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Up and Down with TT

  • #241
  • Sep 20, 2010 12:25pm Sep 20, 2010 12:25pm
Quoting 50d
TT and AMS,
After the formations of the daily pin bars on the majors on friday, i decided to close the GU position for +192 pips as market reopened for this week.
I still believe there are upsides to GU looking at the daily and weekly charts. I will re-enter long as soon as i see a signal to do so... particularly if market did no go lower than 1.5533 today.
Good day to you,

Very well done on that trade

As expected, we did see a thrust up before the move down. The market remains mixed on GU at the moment. It seems we are on a possible reload on the 4hr for a further move up later (8 to 12 hrs from now) - but we are seeing weakness also. We may be forming a bearish thrust on the daily - so mixed.

Would stay out of any longer term position until things clear up a bit.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 29 KB
  • #242
  • Sep 22, 2010 11:11am Sep 22, 2010 11:11am
Quoting TauTrader
Good day to you,

Started loading shorts again on EJ. Target remains @ 106.20. Will add on selected levels as we go.

Regards
Good day to you,

Still adding shorts as we go. I now have 5 positions open on EJ with target 106.20.

Entered @ 111.28
Entered @ 111.35
Entered @ 111.77
Entered @ 112.65
Entered @ 113.20

Well in the red at present. We are still in an upward cycle and another entry will be placed when the turn is shown. That will be the final entry.

Will update again if any changes are made.

Wish you all the best

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ej2.gif Size: 24 KB
  • #243
  • Sep 22, 2010 12:08pm Sep 22, 2010 12:08pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Have to hold nerves until this liquidates TT...seems it's in the making...
Heard on forexlive that German Fin mins saying all involved in sovereign debt may need to take haircuts


Asking investors to digest loss on investment...yeah right, they didn't invested for that...EU might tank 400-500 pips if that's the case.


ta
ams



Quoting TauTrader
Good day to you,

Still adding shorts as we go. I now have 5 positions open on EJ with target 106.20.

Entered @ 111.28
Entered @ 111.35
Entered @ 111.77
Entered @ 112.65
Entered @ 113.20

Well in the red at present. We are still in an upward cycle and another entry will be placed when the turn is shown. That will be the final entry.

Will update again if any changes are made.

Wish you all the best

Regards
  • #244
  • Sep 22, 2010 12:38pm Sep 22, 2010 12:38pm
Quoting ams
Have to hold nerves until this liquidates TT...seems it's in the making...
Heard on forexlive that German Fin mins saying all involved in sovereign debt may need to take haircuts


Asking investors to digest loss on investment...yeah right, they didn't invested for that...EU might tank 400-500 pips if that's the case.


ta
ams
Good day,

Hehe - yip... if you know where it's going, it becomes interesting to note how news is utilised to move things around. The conclusion has to be this - the bigger the position taken, the more needs to be sucked in before a move to liquidate...

1.4520 eur/aud still possible? Would be awesome for a confidence boost if this one works out. Lying in wait for 6 weeks now. Would have taken it, but the roll over costs are extreme to be holding this pair other than intra day.

Anyway - will give it time and see if anything can be salvaged here.

Warm regards
  • #245
  • Sep 22, 2010 12:54pm Sep 22, 2010 12:54pm
Quoting TauTrader
Good day,

Hehe - yip... if you know where it's going, it becomes interesting to note how news is utilised to move things around. The conclusion has to be this - the bigger the position taken, the more needs to be sucked in before a move to liquidate...

1.4520 eur/aud still possible? Would be awesome for a confidence boost if this one works out. Lying in wait for 6 weeks now. Would have taken it, but the roll over costs are extreme to be holding this pair other than intra day.

Anyway - will give it time and see if anything can be salvaged here....
Good day,

Just as an observation....it does look like a classic 1-2-3 setup on the 4hr - may be off to the races...

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB
  • #246
  • Sep 23, 2010 4:04am Sep 23, 2010 4:04am
TT, you continue to amaze me at your trading style. when i grow up, i will like to be like you.
Two persons have affected my trading positively since i started out a year ago.... TT and Stocky Monk.
I cant post on stocky's thread (GU, GJ, EU analysis)... anyone who can should tell him some says a BIG THANK YOU for his explanations and analysis. you guys have inspired me to become better trader.
thank you guys and keep it up.

--- TT, pls ignore all them boys over there at cables thread. people should respect each other here at FF.
  • #247
  • Sep 23, 2010 4:43am Sep 23, 2010 4:43am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
that's true....it's definetly in the making and when it'll happen it'll be quick and dirty 200+ pip drop, question is when....

142 or more is possible before this happens as if the euro has to tank, EA has to be on top to take advantage as euro is doomed to go down and aussie to go up so i'll look to sell rallies on this one


Quoting TauTrader
Good day,

Hehe - yip... if you know where it's going, it becomes interesting to note how news is utilised to move things around. The conclusion has to be this - the bigger the position taken, the more needs to be sucked in before a move to liquidate...

1.4520 eur/aud still possible? Would be awesome for a confidence boost if this one works out. Lying in wait for 6 weeks now. Would have taken it, but the roll over costs are extreme to be holding this pair other than intra day.

Anyway - will give it time and see if anything can be salvaged here....
  • #248
  • Sep 23, 2010 6:50am Sep 23, 2010 6:50am
Quoting 50d
TT, you continue to amaze me at your trading style. when i grow up, i will like to be like you.
Two persons have affected my trading positively since i started out a year ago.... TT and Stocky Monk.
I cant post on stocky's thread (GU, GJ, EU analysis)... anyone who can should tell him some says a BIG THANK YOU for his explanations and analysis. you guys have inspired me to become better trader.
thank you guys and keep it up.

--- TT, pls ignore all them boys over there at cables thread. people should respect each other here at FF.
Good day to you,

I will post your message for Stocky. Yip, he is a very good analyst and knows his stuff. I have a lot of respect for him. However, I am not too sure that I can really add anything to your toolbox. There is a handful of good traders that will teach you a lot more -

But thank you for your post. I do hope you shake the demons and build confidence to consistently trade well. All the best to you.

Regards
  • #249
  • Sep 23, 2010 7:43am Sep 23, 2010 7:43am
Quoting TauTrader
Good day to you,

Still adding shorts as we go. I now have 5 positions open on EJ with target 106.20.

Entered @ 111.28
Entered @ 111.35
Entered @ 111.77
Entered @ 112.65
Entered @ 113.20

Well in the red at present. We are still in an upward cycle and another entry will be placed when the turn is shown. That will be the final entry.

Will update again if any changes are made.

Wish you all the best

Regards
Good day to you,

Closed 2 positions.

Sell @ 113.20 closed now @ 112.43 ( + 77)
Sell @ 112.65 closed now @ 112.45 ( +20)

I believe there will be a move up again at a later stage, where I will add shorts again. Other 3 positions remain open. Target remains 106.20.

Regards
  • #250
  • Sep 23, 2010 7:47am Sep 23, 2010 7:47am
Tau,
We may get a bounce on usd/jpy. I think boj are at this level in the 2nd chart. I can be wrong and often am. lol
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: uj2.gif Size: 30 KB
  • #251
  • Sep 23, 2010 7:57am Sep 23, 2010 7:57am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I guess u r right this time...we should see some more upside..114 me thinks before we tank...so TT did the right thing...

Time to reverse and buy..



Quoting calderone
Tau,
We may get a bounce on usd/jpy. I think boj are at this level in the 2nd chart. I can be wrong and often am. lol
  • #252
  • Sep 23, 2010 7:59am Sep 23, 2010 7:59am
Quoting calderone
Tau,
We may get a bounce on usd/jpy. I think boj are at this level in the 2nd chart. I can be wrong and often am. lol
good day to you,

One would expect defence. You may very well be 100% correct. My 1hr although is still strong bearish. BUT -with this I also see a 2nd phase cycle here that will turn up in due course. Retrace wise.

Looking through the 1hr, 4hr, Daily - it is mixed like puke in a tumble drier.

Your chart, however, makes sense.

thank you for your post.

Trade well!

Regards
  • #253
  • Sep 23, 2010 8:04am Sep 23, 2010 8:04am
Quoting ams
I guess u r right this time...we should see some more upside..114 me thinks before we tank...so TT did the right thing...

Time to reverse and buy..
Good day,

The EJ move down was bearish divergence playing out. BUT - things are slowly showing weakness overall ( according to my gazillion indicators).

I want a last move up to load this baby... you know... greedy. Then hold and pray.

Hehe

Regards
  • #254
  • Sep 23, 2010 8:07am Sep 23, 2010 8:07am
Quoting TauTrader
good day to you,

One would expect defence. You may very well be 100% correct. My 1hr although is still strong bearish. BUT -with this I also see a 2nd phase cycle here that will turn up in due course. Retrace wise.

Looking through the 1hr, 4hr, Daily - it is mixed like puke in a tumble drier.

Your chart, however, makes sense.

thank you for your post.

Trade well!

Regards
I can't be sure. My news feed said something about some meetings and polital events that could affect rates. I could see 87's in the long term but this silly area could be violated for the bears to enjoy.

Tempted to put a resting order slightly higher.
  • #255
  • Sep 23, 2010 8:09am Sep 23, 2010 8:09am
Quoting ams
I guess u r right this time...we should see some more upside..114 me thinks before we tank...so TT did the right thing...

Time to reverse and buy..
I think market manipulation can really throw your techs into a tizzy. Usd/Jpy may chop and drop or BOJ may stuff a 3 inch candle through our bums! lol
  • #256
  • Sep 23, 2010 8:09am Sep 23, 2010 8:09am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I am fully expecting 114 to be touched...
nothing in the way of this baby it seems..see chart and I think you are on the same lines too :-)






Quoting TauTrader
Good day,

The EJ move down was bearish divergence playing out. BUT - things are slowly showing weakness overall ( according to my gazillion indicators).

I want a last move up to load this baby... you know... greedy. Then hold and pray.

Hehe

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 15 KB
  • #257
  • Sep 23, 2010 8:11am Sep 23, 2010 8:11am
Quoting calderone
I think market manipulation can really throw your techs into a tizzy. Usd/Jpy may chop and drop or BOJ may stuff a 3 inch candle through our bums! lol
Since it is Japan... make that a 3 inch Candle Stick ( with pattern)

Enjoyed that...

See you in the trenches

Regards
  • #258
  • Sep 23, 2010 8:16am Sep 23, 2010 8:16am
Quoting ams
I am fully expecting 114 to be touched...
nothing in the way of this baby it seems..see chart and I think you are on the same lines too :-)
Nice chart.

Yip, there must be fat stops there. Common sense dictates a run past those 114.00 levels - sucking in some fresh longs along the way... then BAM! - eat my dust......

Catch me if you can stuff..

thanks for the post!

Regards
  • #259
  • Sep 23, 2010 8:17am Sep 23, 2010 8:17am
Hello everyone and Tau.

I think we will test the 38.2 fib on LFXJPY and 61.8 fib on UJ.

Maybe JPY needs some retrace ??????

Its just my thought .I may be wrong also .
Adding longs as we drop with good mm should be the plan .

Good luck to all.
Attached Image(s) (click to enlarge)
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  • #260
  • Sep 23, 2010 8:30am Sep 23, 2010 8:30am
Quoting honeybhi
Hello everyone and Tau.

I think we will test the 38.2 fib on LFXJPY and 61.8 fib on UJ.

Maybe JPY needs some retrace ??????

Its just my thought .I may be wrong also .
Adding longs as we drop with good mm should be the plan .

Good luck to all.
Good day to you, Sir

Refreshing to see a "different poster" adding info...I got tired of my own posts.

Thank you for taking the time to contribute your view. I am in agreement with the fact that a retrace was/is needed - based on pure technicals. You basically are saying the same as Calderone. AMS also recons there is merit in both your views - we thus have concensus.

My daily whispered that a move back up on UJ is very,very possible. No probable. Again, this is just Bearish divergence currently playing out - I think you are good to go..

All the best in your efforts!

Regards and thank you again for your post.
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