oooppppsss...what a speeche by trichet..look..market down from 2749 to 2744..what a big drop as i expected 
- #286,823
- Aug 27, 2010 12:05pm Aug 27, 2010 12:05pm
Here is my Chart in M30, and as you can see we are in UPtrend in Intraday and the Current TLDW as broken. A close day above 1,2730/35 put us in a UPTREND in Medium/Long Term, This is my oppinion, obvious i could be wrong
Also looking at the chart now it seems like I was right in my prediction as we are closing in on the trendline lows.
- #286,824
- Aug 27, 2010 12:07pm Aug 27, 2010 12:07pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
- #286,826
- Aug 27, 2010 12:09pm Aug 27, 2010 12:09pm
Thanks for the advice. I set a TP at 1.2712. Seems a bit ambitious but my reasons for doing so:
1) 4HR timeframe, the middle bollinger band has acted as support for the past few bars.
2) I have a daily pivot around that level 1.2710/12.
3) Potential weekend squaring-off of LONG positions.
Would definitely take your advice and observe PA around 1.2748/50 as well as 1.2730 as those were breakout levels.
Currently Trichet is speaking and liquidity in the market has spiked to 17%>average according to FF's feature (the whole day it has been...
....I would not say it is safe but I think your outlook could be pretty alright for reaching the target, considering we are seeing a lot of big spikes both up and down.
- #286,827
- Aug 27, 2010 12:09pm Aug 27, 2010 12:09pm
[quote=sopel;3982959]error ? 25 pip hedge as seat belt. EU droping, div showed on EJ.
I'm already +450 today (more than wanted on oil +200).
I can afford even for loss
Come on Trichet...push it down
You profited 450 pips today? How?
25 pip hedge as seat belt. EU droping, div showed on EJ. I'm already +450 today (more than wanted
on oil +200).I can afford even for loss
Come on Trichet...push it down
You profited 450 pips today? How?
- #286,828
- Aug 27, 2010 12:09pm Aug 27, 2010 12:09pm
- Joined Mar 2010 | Status: Technical Fundamentalist | 11,563 Posts
If I may give you my opinion on . I would only highlight your timeframes. A 15min and Daily chart don't complement each other very well in terms of TP.
It's going to be very hard to spot a daily target with a 15 min setup. While is easier to (in your words) "observe price action" in a 15 mins chart with a daily setup, just looking at PA with a 15 mins and waiting for a TP according to that with only a 15 mins setup will be very hard (you will leave lots over the table).
A easy option to start exploring better TP is knowing the timeframe you are trading. In this case it seems that you have a potential daily setup but you are only taking it from a 15min fade point of view... why don't you setup only 2 targets a 15 mins target (scalp/short term or whatever) and the long term based on the daily chart.
I think you may having problems because, according to your charts, your are taking a fade of the 25% daily retrace but your TP are only based on very tiny intraday levels .... in other words, for example if your entry is in the daily and you are using fib (i think) and channels make the TP to the bottom channel (thats what you are showing us in your charts).
If your entry is based on the 15 mins, your are trading INSIDE BARS, late friday, so be prepare for a lot of noise and the targets shouldn't exceed (according to your chart) the big bar and according to your fibs TP should be the closest fib line before the low of that big bar....
This is just an example ... my point is TIMEFRAMES and TP.
I hope it helps .... good luck
sisse
It's going to be very hard to spot a daily target with a 15 min setup. While is easier to (in your words) "observe price action" in a 15 mins chart with a daily setup, just looking at PA with a 15 mins and waiting for a TP according to that with only a 15 mins setup will be very hard (you will leave lots over the table).
A easy option to start exploring better TP is knowing the timeframe you are trading. In this case it seems that you have a potential daily setup but you are only taking it from a 15min fade point of view... why don't you setup only 2 targets a 15 mins target (scalp/short term or whatever) and the long term based on the daily chart.
I think you may having problems because, according to your charts, your are taking a fade of the 25% daily retrace but your TP are only based on very tiny intraday levels .... in other words, for example if your entry is in the daily and you are using fib (i think) and channels make the TP to the bottom channel (thats what you are showing us in your charts).
If your entry is based on the 15 mins, your are trading INSIDE BARS, late friday, so be prepare for a lot of noise and the targets shouldn't exceed (according to your chart) the big bar and according to your fibs TP should be the closest fib line before the low of that big bar....
This is just an example ... my point is TIMEFRAMES and TP.
I hope it helps .... good luck
sisse
Was busy trying to crop my screenshots and also removing some lines from my chart.
Shorted at 1.27655, SL locked-in at 62 (BE +3.5) since this is a short-term counter-trend trade.
TP yet to input, although 1.2748, 1.2728, 1.2716 are potential targets. Will probably observe PA first (feeling slightly greedy)
Reason for trade:
1) 1.2762/4 has been some line to me (yesterday's high) on Daily timeframe.
2) Some upper long wicks seen on 15 mins timeframe.
Chances of being stopped out is high but since SL already locked-in...
Pending conversations? PM for a chat...I am mainly in OTM now
- #286,834
- Aug 27, 2010 12:24pm Aug 27, 2010 12:24pm
- | Joined Aug 2010 | Status: Trader | 1,133 Posts
I am eagerly waiting for the comments of Trichet. This guy is making me impatient.
Anyone here who know how I can get an update?
- #286,835
- Aug 27, 2010 12:33pm Aug 27, 2010 12:33pm
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
- #286,836
- Aug 27, 2010 12:34pm Aug 27, 2010 12:34pm
- Joined Nov 2008 | Status: fx indices commodities | 4,145 Posts
Hi There. Its more or less where it was this morning for the London Session Open.
They have done nothing with this apart from take shorts out for 2 days solid. It was far too oversold. Everyone and there brother and pet dog were short.
Its come from 13332-12586=746 points in 3 weeks.
In the spirit of things I've jazzed my chart colours up too.
My shorts are still in tact as I had my stoploss in the right place 128,50 and the monthly pivot was not even breached at 12783.
They have done nothing with this apart from take shorts out for 2 days solid. It was far too oversold. Everyone and there brother and pet dog were short.
Its come from 13332-12586=746 points in 3 weeks.
In the spirit of things I've jazzed my chart colours up too.
My shorts are still in tact as I had my stoploss in the right place 128,50 and the monthly pivot was not even breached at 12783.
rat
- #286,839
- Aug 27, 2010 12:41pm Aug 27, 2010 12:41pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #286,840
- Aug 27, 2010 12:44pm Aug 27, 2010 12:44pm
- Joined Aug 2010 | Status: Chaos is a ladder | 1,268 Posts
"To hold, you must first open your hand. Let go." - Lao Tzu