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  • #281,161
  • Aug 12, 2010 2:51pm Aug 12, 2010 2:51pm
Quoting lillelise
long 1.2825 tp 1.2900
Better wait for Asia?

I just shorted that little bump at 1.2831-35-38 3x standard lots.

Always fun, when one kind of knows looking at PA that it cant push it further up, too much resistance and lacking volume.
They think they are smarter than I am.
  • #281,162
  • Aug 12, 2010 2:54pm Aug 12, 2010 2:54pm
Quoting wannaberich
yet it didn't

not good, not good
Cheers dear, I really like it when I get a reply - any reply. Makes me feel part of the 'team'.

You're right, it wasn't a good end of day before rollover. However I could have lost nearly 60 pips (points/whatevers) but instead I copped for 11.95. Not at all brilliant but I lived to continue trading and learning for another day. Hope your day was better :-)
  • #281,163
  • Aug 12, 2010 2:57pm Aug 12, 2010 2:57pm
Quoting csmmuthu
Sorry for my ignorance but what is BE?
Now at last I can help someone :-)
BE = Break Even (basically your starting point, n' if poss, move your SL 1-2 points better than that to allow for slippage.

Cool!!
  • #281,164
  • Aug 12, 2010 2:59pm Aug 12, 2010 2:59pm
Quoting wannaberich
Market doesn't do what we want or need

go lowering your sl as we go down to minimize the damage just in case the bull want to close the day above 40. above 80 seems like a very good place to put it at right now. but that's 100 pips from your entry. shouldn't you have gotten out before? that's loss denial. loosing is part of the business. just keep the losses short and the profits rolling (never forgetting that bank the pips regularly). find a sl adequate to your trading style and stick to it. accept the loss.

just my opinion.
...
It's a good opinion, and habit, Wannaberich, lol
  • #281,165
  • Aug 12, 2010 3:03pm Aug 12, 2010 3:03pm
Attached Image (click to enlarge)
Click to Enlarge Name: chart2646.png Size: 170 KB
Blogging daily now at www.volume.zone
  • #281,166
  • Edited 3:07pm Aug 12, 2010 3:05pm | Edited 3:07pm
1.2775 area. As long as we're below the 200 MA on the 4 hour, we are either going to break for a another leg down, or more likely short term chop sideways into the weekend.

I don't need to play the chop. Which failing some new data, is what we're going to do till close Friday.

News could break us definitively below the 1.2777 level 38.2% Fib for a visit to the 50% Fib, but I think we've had such a run, sideways is more likely till fresher heads prevail come Monday.
  • #281,167
  • Aug 12, 2010 3:17pm Aug 12, 2010 3:17pm
Hi Wannaberich,
What do you think about this?

Quoting wannaberich
i like the way you talk. your finger deaf? LOL

green pips man. keep posting your images. really fun!
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  • #281,168
  • Aug 12, 2010 3:17pm Aug 12, 2010 3:17pm
Quoting mfoste1
ohh yea...went to the HOF game on sunday, its close to my house.
football is a metaphor ... 2828.. is a big number. 3340 (we didn't touch it) is a big number. bulls don't want a few closes below 2828 bears do.
those who can, do. those who cant, talk about those who can
  • #281,169
  • Aug 12, 2010 3:19pm Aug 12, 2010 3:19pm
Quoting Lorna
Now at last I can help someone :-)
BE = Break Even (basically your starting point, n' if poss, move your SL 1-2 points better than that to allow for slippage.

Cool!!
I think BE = Buy entry But well it gives the same meaning.
  • #281,170
  • Aug 12, 2010 3:22pm Aug 12, 2010 3:22pm
I have a short posision, target point 1.2790.

Tempted to set it at 1.2750, S1 piviot and some resistance line. But have been trading 37 out of the last 40 hours, so need some sleep soon.

Think we will go further down before weekend?
  • #281,171
  • Aug 12, 2010 3:24pm Aug 12, 2010 3:24pm
Quoting gatorinla
football is a metaphor ... 2828.. is a big number. 3340 (we didn't touch it) is a big number. bulls don't want a few closes below 2828 bears do.

lol i though you were talkin about football for a second
  • #281,172
  • Aug 12, 2010 3:26pm Aug 12, 2010 3:26pm
Quoting Sunsi
I have a short posision, target point 1.2790.
Think we will go further down before weekend?

saw a lot of volume today ... not sure what to make of it but maybe some form of profit taking ...almost thinking we may see up move to test 1.3000 area.

Looking for break out 1.2850 in asia / london or a doji form on 30 min at 1,2800 for longs
Blogging daily now at www.volume.zone
  • #281,173
  • Aug 12, 2010 3:26pm Aug 12, 2010 3:26pm
Quoting Crassius
1.2775 area. As long as we're below the 200 MA on the 4 hour, we are either going to break for a another leg down, or more likely short term chop sideways into the weekend.

I don't need to play the chop. Which failing some new data, is what we're going to do till close Friday.

News could break us definitively below the 1.2777 level 38.2% Fib for a visit to the 50% Fib, but I think we've had such a run, sideways is more likely till fresher heads prevail come Monday.
nah we have German GDP tomorrow morning (expecting to post the largest growth quarter btw) and then later U.S. Consumer Confidence and CPI and Retail Sales. There will be a lot of movement tomorrow. One way or the other.
  • #281,174
  • Aug 12, 2010 3:27pm Aug 12, 2010 3:27pm
Quoting malcolmb14
saw a lot of volume today ... not sure what to make of it but maybe some form of profit taking ...almost thinking we may see up move to test 1.3000 area.

Looking for break out 1.2850 in asia / london or a doji form on 30 min at 1,2800 for longs
May I ask what is your reason for thinking we could head back to 1.3000 area?
  • #281,175
  • Aug 12, 2010 3:27pm Aug 12, 2010 3:27pm
Quoting mfoste1
lol i though you were talkin about football for a second
could be a blood bath here. names will disappear
those who can, do. those who cant, talk about those who can
  • #281,176
  • Aug 12, 2010 3:28pm Aug 12, 2010 3:28pm
Quoting malcolmb14
saw a lot of volume today ... not sure what to make of it but maybe some form of profit taking ...almost thinking we may see up move to test 1.3000 area.

Looking for break out 1.2850 in asia / london or a doji form on 30 min at 1,2800 for longs
Whats the source of your volume? Futures?
  • #281,177
  • Aug 12, 2010 3:32pm Aug 12, 2010 3:32pm
Quoting gatorinla
could be a blood bath here. names will disappear

The monthly pivot @ 2779 right were we bounced.......i have that as a pretty big number in my math....its a big mid.....math says once we cross it next 2215
  • #281,178
  • Aug 12, 2010 3:37pm Aug 12, 2010 3:37pm
Quoting Larry Exum
Could a few of you enlighten me as to why, since the FOMC was BAD for the US, and the subsequent, news out such as the US Unemployment claims which was also worse than expected would cause the EUR/USD to Decline. If the US economy is the worst one of this pair, WHY IS THE EURO declining and the USD improving? I do not understand news days... They have hurt my feelings this week, and my account.
okay i am a newbie so i dont really know what i am talking about but : the usa is a big hitter on the world stage if things are economicly going wrong there then the assuption is the worlds ecconomically fucked.

pardon my french.


if the world is screwd you need to find a place to stash your cash

you are not bothered about the rate of return that you will get for your cash , you just want to know that it is safe :

thus you buy dollars .

why this is the way it is is cant comment but news means the dow drops and people buy dollars :
  • #281,179
  • Aug 12, 2010 3:38pm Aug 12, 2010 3:38pm
Quoting Maxsmart
nah we have German GDP tomorrow morning (expecting to post the largest growth quarter btw) and then later U.S. Consumer Confidence and CPI and Retail Sales. There will be a lot of movement tomorrow. One way or the other.
News is what is needed. We're in equilibrium around the 200 MA on the 4 hr waiting for some reason to move in which direction.

Funny thing about news is not what it is or what it's predicted to be, its what the market interprets it to be....

I don't know what the news will be, and more importantly I don't know how it will interpreted, but I do know a definitive break of that 1.2777 38.2% Fib will either be another leg down, or a short lived probe down and then back above it.

My reasoning is I can set a sell order here with a tight stop out if we get the probing action, or I'll be in for the next leg down.

I don't at this moment see a definitive place to set a long entry, so I'm sticking with that sell stop entry, but won't be surprised if doesn't get hit, or gets hit for a small loss.
  • #281,180
  • Aug 12, 2010 3:43pm Aug 12, 2010 3:43pm
I don't really care as long as we pick a direction and run that way

I have sell orders down at 1.2773 and buys up at 1.2885 and a small GU long open
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