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  • #271,621
  • Jul 15, 2010 6:33am Jul 15, 2010 6:33am
Quoting Nene
I wa sleeping when this occoured, but had I been awake I would have loaded a bunch on top of my exsisting long at this point. Tweezers off a trendline support, That doesnt happen everyday.

That's excatly why i've taken a long this morning ...i love these setups
COT: The precious data ignored
  • #271,622
  • Jul 15, 2010 6:36am Jul 15, 2010 6:36am
Quoting kuroro001
yeh hehe ,who said forex was hard

I'd love another bounce off 1,2790-12800 to take another long !!!
I have one from 1.2805, SL @ BE just to be sure not losing money... another BUY STOP @ 1.2855 TP for both is 1.2945... let's see how it goes...
  • #271,623
  • Jul 15, 2010 6:38am Jul 15, 2010 6:38am
Its just strange how everyone is long these days...
  • #271,624
  • Jul 15, 2010 6:40am Jul 15, 2010 6:40am
Quoting T@rantula
Its just strange how everyone is long these days...
Why? - or you think some of us just sayin they are on the LONG side? I just can't get your point, sorry!
  • #271,625
  • Jul 15, 2010 6:44am Jul 15, 2010 6:44am
Quoting Atomanti
Why? - or you think some of us just sayin they are on the LONG side? I just can't get your point, sorry!
I think that might be a reference to all the long doubters earlier
  • #271,626
  • Jul 15, 2010 6:49am Jul 15, 2010 6:49am
Depends on your perspective (timeframe). In your charts is catching a top but for somebody else may only be the first clear weekly retrace in a 10 months very clear downtrend....

sisse

Quoting Atomanti
Well said! Do not try to catch the TOP of the upward move, because you can easily burn yourself... Yeah, sure sometimes you can catch it, but mostly you are going to lose money.

10 losing trades with 2-3 winning trades is not really a good sign for your accounts...

I know what I'm talking about, because I tried to catch the TOP in the last few weeks, because I was listening for other's comments a bit more... that is the worst thing you can do... just trade what you see and what is in your strategy. Remember to leave your SL where it is, do not...
Pending conversations? PM for a chat...I am mainly in OTM now
  • #271,627
  • Jul 15, 2010 6:50am Jul 15, 2010 6:50am
Quoting T@rantula
Its just strange how everyone is long these days...
I am not, still holding 3 lots average 1.2550 hedged with 3 other at 1.2582.

Waiting to find a top on this to short it and pray it gets down some day to 1.25...
  • #271,628
  • Jul 15, 2010 6:50am Jul 15, 2010 6:50am
There's also a negative hidden one on the daily rsi 5/21 - 6/17. If the rsi TL holds, that would point us to a 1.744 target. But it could take weeks. I would not trade that for now.

Quoting T@rantula
We still have bullish divergences @ h4 so we can make it higher
  • #271,629
  • Jul 15, 2010 6:51am Jul 15, 2010 6:51am
Quoting beyond
I think that might be a reference to all the long doubters earlier
Yeah... few weeks ago you could see bearish trend on every TF... lot of things have been changed since then... some confusing moves has been done... only thing I can see that since the inverted shampoo has been confirmed, there is no downside movement on daily TF... what can you do? Go for long? -maybe

SUM: I don't think it is pointless to change your mind alongside the trend...

Cheers!
  • #271,630
  • Jul 15, 2010 6:51am Jul 15, 2010 6:51am
closed out short at 1.2810. waiting for another set-up.
  • #271,631
  • Jul 15, 2010 6:53am Jul 15, 2010 6:53am
Quoting Atlast
closed out short at 1.2710. waiting for another set-up.

Don't you mean 1.2810?
  • #271,632
  • Jul 15, 2010 6:54am Jul 15, 2010 6:54am
Could someone please look at this 4hr chart of AUD and confirm if it is a massive inverted head and shoulders formation? If so, isnt think considered extremely bullish? Thanks so much.
Attached Image (click to enlarge)
Click to Enlarge Name: hs.gif Size: 18 KB
  • #271,633
  • Jul 15, 2010 6:56am Jul 15, 2010 6:56am
Quoting starlogic21
Don't you mean 1.2810?
yes, thanks for the correction. I just corrected the post.
  • #271,634
  • Jul 15, 2010 6:58am Jul 15, 2010 6:58am
Quoting usapgapro
Could someone please look at this 4hr chart of AUD and confirm if it is a massive inverted head and shoulders formation? If so, isnt think considered extremely bullish? Thanks so much.
Nope... you should look for inverted H&S at the bottom of downtrend and usually on bigger TFs... If it would be an inv. shampoo then the TP's already taken...

Take care!
  • #271,635
  • Jul 15, 2010 6:59am Jul 15, 2010 6:59am
Quoting beyond
I think that might be a reference to all the long doubters earlier
Aw no...

For everything I say I have a proof. Even if I am not correct in my analysis I have a solid evidence to cover it, why did I do i it like that.

I dont judge people who are not correct in their analysis. Give me the proof for longs/shorts etc...why did u do that, what made u make that entry...even if u r not right its ok. Because my opinion is that every good trader can make a mistake but needs to have a proof for that mistake.

I appreciate people who make a mistake..But in making the mistake they should have had a chart or written analysis which explains why did they make such an entry
  • #271,636
  • Jul 15, 2010 6:59am Jul 15, 2010 6:59am
Quoting Atlast
yes, thanks for the correction. I just corrected the post.
sorry...I didn't see that in time!
  • #271,637
  • Jul 15, 2010 7:00am Jul 15, 2010 7:00am
Quoting Leeson
I am not, still holding 3 lots average 1.2550 hedged with 3 other at 1.2582.

Waiting to find a top on this to short it and pray it gets down some day to 1.25...
Hedging can be good...
  • #271,638
  • Jul 15, 2010 7:01am Jul 15, 2010 7:01am
Quoting usapgapro
Could someone please look at this 4hr chart of AUD and confirm if it is a massive inverted head and shoulders formation? If so, isnt think considered extremely bullish? Thanks so much.
Which HS do you choose... blue or red?
Attached Image (click to enlarge)
Click to Enlarge Name: hs.gif Size: 21 KB
  • #271,639
  • Jul 15, 2010 7:04am Jul 15, 2010 7:04am
Quoting attila
There's also a negative hidden one on the daily rsi 5/21 - 6/17. If the rsi TL holds, that would point us to a 1.744 target. But it could take weeks. I would not trade that for now.
Dont make entries @ the point of divergence...Divergence needs a time to develop..There are many sorts of divergence which can be negated by contra divergence and u need to know corellations between them. For intraday,momentum and obv are the strongest. Divergence is good to give as a hint of upcoming TREND CONTINUATION or TREND REVERSAL so they act as a direction or a road sign.
  • #271,640
  • Jul 15, 2010 7:04am Jul 15, 2010 7:04am
Red.... Is what is scaring me the most.
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