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  • #272,401
  • Jul 16, 2010 9:18am Jul 16, 2010 9:18am
Quoting forexings
reversal could possible from here
pretty unlikely.........strong bear numbers for the US economy-----core cpi rose, bad consumer expectations, long term purchases went wayyy down....

a lot of longs liquidated @ 3000 as well as protected opts that exp today.

maybe a bounce though....
  • #272,402
  • Jul 16, 2010 9:20am Jul 16, 2010 9:20am
Quoting Redeemed1
That was a brawl!
Next will focus on stress tests. I think it might be bad as I saw info (but can't remember the source) that 11 big boys are in serious trouble. If any of you have the source please post..
I think it's being leaked to ease the pain when the data comes.
the Eurozone is conducting the tests to restore confidence in the markets and not to shake things up. I'm sure the tests will be toothless and results will state that all problems are manageable. The markets reaction will depend on if they believe the tests to be stringent enough. The market is already behaving relatively pessimistic during this earnings season and we are about to get into the the thick of it which means more volatility.
  • #272,403
  • Jul 16, 2010 9:21am Jul 16, 2010 9:21am
Still waiting fir sell signal
Attached Image (click to enlarge)
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  • #272,404
  • Jul 16, 2010 9:23am Jul 16, 2010 9:23am
pop quiz

it is possible finish another shoulder today
  • #272,405
  • Jul 16, 2010 9:29am Jul 16, 2010 9:29am
Guys, closed all my shorts out at 1.2922, maybe a little early, but good profit earned.
100% trades in profit today, better than yesterday and as good as day before, and day before, ...... what can I say,
wonder how many thought it would not reverse.
I took a break from the screen when the price hit near the high to avoid any stupid mistakes of exiting my positions.
  • #272,406
  • Jul 16, 2010 9:34am Jul 16, 2010 9:34am
im in 120% in profit, should I closed now or wait for the market to drop further more...any idea if the market keep going south?
  • #272,407
  • Jul 16, 2010 9:37am Jul 16, 2010 9:37am
Quoting husmas609
im in 120% in profit, should I closed now or wait for the market to drop further more...any idea if the market keep going south?
If this was med-term-high(1,300), it can goes deeper...
That 1,300 looked as killing crazy long buyers... Before south...
After possible break of 1,2890 ............. 1,2860, lets see - fibo 50%...
  • #272,408
  • Jul 16, 2010 9:37am Jul 16, 2010 9:37am
Quoting husmas609
im in 120% in profit, should I closed now or wait for the market to drop further more...any idea if the market keep going south?
Profit is always good
  • #272,409
  • Jul 16, 2010 9:42am Jul 16, 2010 9:42am
Quoting Redeemed1
Profit is always good
Hello. Priority is well-done trade...
  • #272,410
  • Jul 16, 2010 9:44am Jul 16, 2010 9:44am
Quoting rebelheart
Still waiting fir sell signal


http://cdn.forexfactory.com/attachme...1&d=1279290044


what is the timeframe you use in this pic?

thx
  • #272,411
  • Jul 16, 2010 9:50am Jul 16, 2010 9:50am
Quoting Fana
If this was med-term-high(1,300), it can goes deeper...
That 1,300 looked as killing crazy long buyers... Before south...
After possible break of 1,2890 ............. 1,2860, lets see - fibo 50%...
I'll stick to my tp at 1.2897

Quoting Redeemed1
Profit is always good
thanks mate...yeah profit always good...loosing even a small amount is really hurt for me
but the market seems to getting slower now...what happened?
  • #272,412
  • Jul 16, 2010 9:51am Jul 16, 2010 9:51am
Busted my first account trying to short the tops. Lesson learned. 5000€ down the sewer. I will be back, now going back to demo trading for the next 3 months... GL everybody.
  • #272,413
  • Jul 16, 2010 9:51am Jul 16, 2010 9:51am
Quoting husmas609
im in 120% in profit, should I closed now or wait for the market to drop further more...any idea if the market keep going south?
when I posted my positions closed, it took me a few minutes to write as I was going to post some charts, but decided against it. You have to manage your profits as you planned not make it up as you go along. You can move targets depending on price action, and other factors, but rather than take advice on up or down, better to ask about specific levels or trend direction.
  • #272,414
  • Jul 16, 2010 9:54am Jul 16, 2010 9:54am
I'm still red in the eur shorts but tokk a 250 pips profit on cad and eur jpy. Now I have the confidence that 1.30 will be a tough dude to knock. If that happens my 1.2550 shorts will be happy.
  • #272,415
  • Jul 16, 2010 9:56am Jul 16, 2010 9:56am
Quoting Santana33
I'm still red in the eur shorts but tokk a 250 pips profit on cad and eur jpy. Now I have the confidence that 1.30 will be a tough dude to knock. If that happens my 1.2550 shorts will be happy.
Hello Santana33, this is more likely "hope", than trading...
  • #272,416
  • Jul 16, 2010 9:58am Jul 16, 2010 9:58am
Quoting Santana33
I'm still red in the eur shorts but tokk a 250 pips profit on cad and eur jpy. Now I have the confidence that 1.30 will be a tough dude to knock. If that happens my 1.2550 shorts will be happy.
I also took a short @1.2595 2 weeks back. It's on a dec contract so i'm not to worried about it.

Keep hedging your long term shorts and ride the bull trend up every opportunity you can get. I'm short @1.2996 now and waiting till the 1.27's
  • #272,417
  • Jul 16, 2010 9:59am Jul 16, 2010 9:59am
Busted my first account trying to short the tops. Lesson learned. 5000€ down the sewer. I will be back, now going back to demo trading for the next 3 months... GL everybody.


Sincerely sorry to hear such terrible news. We've all been there.. I myself have been there atleast 4 times losing over 20,000.... But you will learn and come back much stronger. Words of wisdom.. learn MACD DIVERGENCE: normal and hidden.... Learn HRCP (highly reversal candle patterns. Those two things have changed my trading to 100's of pips a month without fear..... Good luck
  • #272,418
  • Jul 16, 2010 10:00am Jul 16, 2010 10:00am
Doesnt anyone look at the Daily in here? Check it out, or just give it a glance.

Jim

Quoting Masrim
S&P nearing 61.8 fibo support again. Let's see if it holds this time.
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  • #272,419
  • Jul 16, 2010 10:01am Jul 16, 2010 10:01am
Quoting PIPMunch
I also took a short @1.2595 2 weeks back. It's on a dec contract so i'm not to worried about it.

Keep hedging your long term shorts and ride the bull trend up every opportunity you can get. I'm short @1.2996 now and waiting till the 1.27's
Yes my bad, I couldnt believe what was happening at the moment, in any case if this continue I will ride the bull beyond 1.30 with the double than south.

Now it seems 1.2930 it's giving fight, the dxy is weak that is not helping bears.
  • #272,420
  • Jul 16, 2010 10:02am Jul 16, 2010 10:02am
Do you think the 1.3000 level coincides with the 61.8 Fib level is just a coincidence? I think not. We could get a retest of 1.3000 but you never know.

Quoting Nene
Doesnt anyone look at the Daily in here? Check it out, or just give it a glance.

Jim
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