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  • #258,481
  • Jun 15, 2010 3:18pm Jun 15, 2010 3:18pm
I was thinking I want everyone to be on the other side of the market.....but a little weight on the see saw maybe fine........

Quoting Naseri13
Looking to sell
added some sells 1.2346 for my risk reward

lets see
  • #258,482
  • Jun 15, 2010 3:21pm Jun 15, 2010 3:21pm
Quoting Masrim
Ok so what do we see for the upcoming week? I think the Dow is key to watch once again! From what I see, if present risk sentiment remains in force and nothing really exceptional happens, the Dow can rally as high as 10420 from a technical point of view, where some heavy resistance lies, in the upcoming week. As a consequence I would expect the euro to edge higher by approximately 150 pips, as is calculated for the usual correlation, thus coming at slightly above 1.22 at some point of the week. If that happens, further continuation of the short...
TP 1 on my EU strategy hit @ 10400 dow
  • #258,483
  • Jun 15, 2010 3:23pm Jun 15, 2010 3:23pm
Quoting grandpost
I dont know whats happening does that mean exit trade....or is it I did my share of work and have to leave the rest to god......


If i was god i'd take your pips just to teach you to manage your own trades...
FUBAR...
  • #258,484
  • Jun 15, 2010 3:24pm Jun 15, 2010 3:24pm
Quoting kuroro001
Economics ain't usefull.. even economists don't understand it, lifelessons is in my guess way better
I'll read it
economics revolves around decision making, from the smallest factor in the economy(the consumer) to the largest(central banks).....saying that economics isnt useful is a very naive statement.
  • #258,485
  • Jun 15, 2010 3:26pm Jun 15, 2010 3:26pm
For some reason I really do like your sense of humor......I think I have the markets cornered but I don't have the courage to hold my positions.....so i am trying to drive my risk up as much as I can......


Quoting ak4x


If i was god i'd take your pips just to teach you to manage your own trades...
  • #258,486
  • Jun 15, 2010 3:26pm Jun 15, 2010 3:26pm
Quoting kuroro001
Economics ain't usefull.. even economists don't understand it, lifelessons is in my guess way better
I'll read it
yeah, right We dont need those. Why do we need to learn anything at all. Its just a matter of TIME from sitting at screen and become proficient in economics

lol....
  • #258,487
  • Jun 15, 2010 3:28pm Jun 15, 2010 3:28pm
2345 is a tough nut to crack
  • #258,488
  • Jun 15, 2010 3:31pm Jun 15, 2010 3:31pm
Quoting Masrim
TP 1 on my EU strategy hit @ 10400 dow
Now time for ACT II, let's see which scenario plays out, we should know soon. So far the strat has been a pretty good reference, only it's 100 pips off in EU, but to my profit
  • #258,489
  • Jun 15, 2010 3:36pm Jun 15, 2010 3:36pm
Quoting grandpost
I think I have the markets cornered but I don't have the courage to hold my positions.....so i am trying to drive my risk up as much as I can......
Go for it dude... there's always room for another account meltdown a'rd here.

Btw... about that "courage" comment... That's Baloney. Proper risk management doesn't require "courage", just a decent set of trade conditions.

Here's the thing, you've got at least one well known and respected trader a'rd these threads (geppyq) that vouched for you and that within the last couple days (no idea who that other guy is)... Yet you consistently come across like a Nutjob.

What gives?
FUBAR...
  • #258,490
  • Jun 15, 2010 3:36pm Jun 15, 2010 3:36pm
Quoting ak4x
The short time frames you're referring to (altho you didn't state it...) makes a weak case for any significant Top formation imo... it would take at least a decent drop and retest on the Hourly minimum and 4hr or daily to get my attention.

Intra-day and intra-session formations get you intra-day moves... they're tradeable sure, but those can get gobbled up pretty fast by INTERDAY moves.... just keep your perspective when you start discussing Reversal Formations... it does matter.

Btw... I AM short from 2342/2344, just nor for the reason it's...

you are right, I referred to the 5M timeframe. But the hourly also failed to close above 12350. When the hourly close above 12350 I'll probably close my short...
  • #258,491
  • Jun 15, 2010 3:40pm Jun 15, 2010 3:40pm
Will it Bounce or break and clear the 2326/27ish QP... ?

ADD: Besides that static S/R level, every Lower BB i have on every TF under 1hr is sitting a'rd 2320 to 2326. Could be a stall and drift here till we get asia in to play, but I hope not. A Break and Clear to the downside would be a nice confirmation on some other things I'm looking at, and why I'm short.

shorts from 2342 and 2344.
FUBAR...
  • #258,492
  • Jun 15, 2010 3:46pm Jun 15, 2010 3:46pm
Quoting grandpost
For some reason I really do like your sense of humor......I think I have the markets cornered but I don't have the courage to hold my positions.....so i am trying to drive my risk up as much as I can......
this guy thought he had the markets cornered as well.....didnt turn out too favorable for him(hes as broke as me now!). As soon as you get cocky and think youve got the solution, the markets will humble you.....

http://gawker.com/302379/hedge-funde...on-wall-street
  • #258,493
  • Jun 15, 2010 3:49pm Jun 15, 2010 3:49pm
[quote=mfoste1;3804368]As soon as you get cocky and think youve got the solution, the markets will humble you.....
quote]

the surest thing in forex...
  • #258,494
  • Jun 15, 2010 3:52pm Jun 15, 2010 3:52pm
I'm waiting for the PSAR on the 5min chart to start opening to the upside then I'll take another 0.2 lot positions of short on this thing from around 1.2347 resistance line.

If EUR is to break this 1.235x resistance line it would mean some big player coming in to boost it, so far it has touched it 3 times and the fourth is coming up, so I think its imminent to see 1.2347/50 again before a downfall or a break out (DOUBT IT) takes place.

Anyone think my analysis is flawed please let me know,
  • #258,495
  • Jun 15, 2010 3:54pm Jun 15, 2010 3:54pm
Quoting lambergino
I'm waiting for the PSAR on the 5min chart to start opening to the upside then I'll take another 0.2 lot positions of short on this thing from around 1.2347 resistance line.

If EUR is to break this 1.235x resistance line it would mean some big player coming in to boost it, so far it has touched it 3 times and the fourth is coming up, so I think its imminent to see 1.2347/50 again before a downfall or a break out (DOUBT IT) takes place.

Anyone think my analysis is flawed please let me know,
not necessarily......markets can be quite volatile during periods of low liquidity.
  • #258,496
  • Jun 15, 2010 3:57pm Jun 15, 2010 3:57pm
Quoting mfoste1
economics revolves around decision making, from the smallest factor in the economy(the consumer) to the largest(central banks).....saying that economics isnt useful is a very naive statement.

In what we do (trading currencies) i don't think we do need to understand economics...
I've studied economics for years and if you apply it to the trading activities, in my opinion it's totally useless. News figures are totally useless, etc..
So yes it's usefull if you want to understand how this dumb world works, but otherwise for the trading activities it's garbage.
COT: The precious data ignored
  • #258,497
  • Jun 15, 2010 3:58pm Jun 15, 2010 3:58pm
Why not touch the PivotD R3 Line at 1.2483,...or the upper Line of Bollinger Band at 1.2435/50 daily chart.
Wait that daily CCI(14) is buliding a peak tomorrow or the day after and focus the trading with M5/M15.
  • #258,498
  • Jun 15, 2010 3:59pm Jun 15, 2010 3:59pm
Quoting sed34
2345 is a tough nut to crack

Don't worry, I went short which means it won't be long before it heads to newer highs.
  • #258,499
  • Jun 15, 2010 4:02pm Jun 15, 2010 4:02pm
Economists are not taught speculation and forecasting. They are schollars of facts.

There's a saying, that when economist sees a real world action taken in finance, he will look if it can be explained by current theorems.
  • #258,500
  • Jun 15, 2010 4:04pm Jun 15, 2010 4:04pm
Quoting kuroro001
In what we do (trading currencies) i don't think we do need to understand economics...
I've studied economics for years and if you apply it to the trading activities, in my opinion it's totally useless. News figures are totally useless, etc..
So yes it's usefull if you want to understand how this dumb world works, but otherwise for the trading activities it's garbage.
monetary policies exercised by CBs directly effects fx rates......cmon dude

trading news and media is different than trading economic trends est by CBs

if you cannot understand and do not pay attention to economics, you'll have a very tough time in understanding what drives traders to push the bid or offer.....
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