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  • #287,921
  • Sep 1, 2010 9:29am Sep 1, 2010 9:29am
Quoting longshot_nl
Oh you released something inside me
Cleeaannn oooooh...!

Woah..
  • #287,922
  • Sep 1, 2010 9:36am Sep 1, 2010 9:36am
Quoting frankkn
Woah..

lol.....
  • #287,923
  • Sep 1, 2010 9:39am Sep 1, 2010 9:39am
Man where did all the bears go?!?! One day it's a bearish sentiment the next it's a shuttle take off procedure LOL

Edit:

Of course now that I say this looks like a retrace is underway
Nothing is impossible, with a willing mind!
  • #287,924
  • Sep 1, 2010 9:40am Sep 1, 2010 9:40am
Well, bull is still present but it fails with short timeframe setups, its killing it slowly.

Bears come then...
They think they are smarter than I am.
  • #287,925
  • Sep 1, 2010 9:41am Sep 1, 2010 9:41am
Quoting Trader_V
Man where did all the bears go?!?! One day it's a bearish sentiment the next it's a shuttle take off procedure LOL
I'm still here. I added light at my planned levels on the way up. Heavier on the way down. Tick tock.
  • #287,926
  • Sep 1, 2010 9:44am Sep 1, 2010 9:44am
This is what my charts can look like.
Don't know if this will remain valid.
Have to wait and see.
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  • #287,927
  • Sep 1, 2010 9:45am Sep 1, 2010 9:45am
Quoting PriceVolume
I'm still here. I added light at my planned levels on the way up. Heavier on the way down. Tick tock.
Hi PriceVolume, curious about your strategy.

Light on the way up, heavier on the way down. Would that not be riskier, if you are caught short at the bottom after a retrace? (touchwood, hope it doesnt happens although some told me Hope exist not in forex trading).
  • #287,928
  • Sep 1, 2010 9:48am Sep 1, 2010 9:48am
Quoting FxChi
Shorters are majority right now from buy side liquidity according to Duka: http://www.dukascopy.com/swiss/engli...tch/sentiment/

And I'm pretty sure a lot of retail took shorts at 2800...nice round number even though, technically, 2820 looks stronger to me. I'm also assuming there's locked in traders from around 2700, but that's just my assumption.

In any case, good luck if your short.
dont know it this helps..but i pulled it off my trading system to check the latest long/short positioning..from what it says, there are more shorts in than longs.
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  • #287,929
  • Sep 1, 2010 9:50am Sep 1, 2010 9:50am
Quoting Xismal
Hi PriceVolume, curious about your strategy.

Light on the way up, heavier on the way down. Would that not be riskier, if you are caught short at the bottom after a retrace? (touchwood, hope it doesnt happens although some told me Hope exist not in forex trading).
Not with proper money management. This is a longer term play for me, so I'm using wider stops dictated by daily and weekly charts. As we move downward, I will move trades to BE and and pocket some profit. Only thing that is going to save this pair, or rather I should say reprieve, is QE2. If we get full blown QE2 we go the other way.....and even with QE2, we're likely to see it driven down to get a better entry price.....
  • #287,930
  • Sep 1, 2010 9:53am Sep 1, 2010 9:53am
Quoting PriceVolume
Not with proper money management. This is a longer term play for me, so I'm using wider stops dictated by daily and weekly charts. As we move downward, I will move trades to BE and and pocket some profit. Only thing that is going to save this pair, or rather I should say reprieve, is QE2. If we get full blown QE2 we go the other way.....and even with QE2, we're likely to see it driven down to get a better entry price.....
Thanks for clarifying
  • #287,931
  • Sep 1, 2010 9:54am Sep 1, 2010 9:54am
Quoting longshot_nl
This is what my charts can look like.
Don't know if this will remain valid.
Have to wait and see.
You are going to hate me for this , but I think it would be a massive help to all beginners or even novices, if you'd explain *all* and *every* line in your chart. Just once. Why you drew the line, what does it mean in your theory, perhaps what were the alternatives, what would those alternatives signify and so on.

If you wish, I volunteer to transform it to some useful format (from text) and re-post.
  • #287,932
  • Sep 1, 2010 9:58am Sep 1, 2010 9:58am
Quoting zaphy
You are going to hate me for this , but I think it would be a massive help to all beginners or even novices, if you'd explain *all* and *every* line in your chart. Just once. Why you drew the line, what does it mean in your theory, perhaps what were the alternatives, what would those alternatives signify and so on.

If you wish, I volunteer to transform it to some useful format (from text) and re-post.
I second this....
  • #287,933
  • Sep 1, 2010 10:01am Sep 1, 2010 10:01am
Quoting zaphy
You are going to hate me for this , but I think it would be a massive help to all beginners or even novices, if you'd explain *all* and *every* line in your chart. Just once. Why you drew the line, what does it mean in your theory, perhaps what were the alternatives, what would those alternatives signify and so on.

If you wish, I volunteer to transform it to some useful format (from text) and re-post.
I hate you now.!
just kidding.
well... the lines what they mean are resistance lines.
I draw the grid like that at fixed intervals and the price seems to obey the grid until now that is..
I see more grids of different angles but it takes some time to draw.
This thumbs up are confluince points.
Those are points where more resistance lines come together.
Those points are 2 way magnets.
Once hit it can loose its power and the price either goes the other way or not.. If not get out of the way or get hurt.
So you can place trades with tight stops there so high RRR.
  • #287,934
  • Sep 1, 2010 10:07am Sep 1, 2010 10:07am
Pay attention to PA around 2790....
  • #287,935
  • Sep 1, 2010 10:07am Sep 1, 2010 10:07am
Ok here is my analysis of EU.

EU would probably reach 2939 before NFP. As we can see on the h4 it is a MAJOR reversal point 4/8 and on a DAILY EMA RSI crosses definitely point upwards and we are pushing above 4/8 ..After the report we should see...If it breaks above 2939 expect 3062 and 3184 and maybe one more push towards 35xx. There will be some corrections but according to my analysis this could be it.



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  • #287,936
  • Sep 1, 2010 10:07am Sep 1, 2010 10:07am
Quoting Xismal
Hi PriceVolume, curious about your strategy.

Light on the way up, heavier on the way down. Would that not be riskier, if you are caught short at the bottom after a retrace? (touchwood, hope it doesnt happens although some told me Hope exist not in forex trading).

Not to speak for Pricevolume but...

It looks like he's fading the run up to catch a ride down. Slowly adding to the position as it moves against you at strategic levels then as it moves back in your favor your cost averaging on the way up pays off on the way back down.
Nothing is impossible, with a willing mind!
  • #287,937
  • Sep 1, 2010 10:09am Sep 1, 2010 10:09am
its much better that to stay out from the market.. let it cool down..patience here again
  • #287,938
  • Sep 1, 2010 10:12am Sep 1, 2010 10:12am
Quoting Trader_V
Not to speak for Pricevolume but...

It looks like he's fading the run up to catch a ride down. Slowly adding to the position as it moves against you at strategic levels then as it moves back in your favor your cost averaging on the way up pays off on the way back down.
Yes, but not "Averaging Down" where some trying to increase lot size on the way up to achieve a higher average entry. All of the places I planned to short at were on my chart before this move. We've been expecting it, but we definately got overshoot....
  • #287,939
  • Sep 1, 2010 10:13am Sep 1, 2010 10:13am
Quoting Trader_V
Not to speak for Pricevolume but...

It looks like he's fading the run up to catch a ride down. Slowly adding to the position as it moves against you at strategic levels then as it moves back in your favor your cost averaging on the way up pays off on the way back down.
Thanks, appreciate that explanation too.
  • #287,940
  • Sep 1, 2010 10:13am Sep 1, 2010 10:13am
Quoting zaphy
You are going to hate me for this , but I think it would be a massive help to all beginners or even novices, if you'd explain *all* and *every* line in your chart. Just once. Why you drew the line, what does it mean in your theory, perhaps what were the alternatives, what would those alternatives signify and so on.

If you wish, I volunteer to transform it to some useful format (from text) and re-post.
lol, it would be a massive help to you if he didn't explain it. Imo, no one, beginner or advanced should be analyzing charts like that...its unnecessary.

Look to draw trendlines that matter.. instead of looking for every possible trendline on a chart.
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