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Trade What You See - Almost Naked Trading

  • #721
  • Oct 5, 2010 7:37pm Oct 5, 2010 7:37pm
Quoting lawgirl21
I'm still short this pair. Down 60 pips, but I am curious about it, so will keep it.
I think you will be ok, LG.

Based upon the Monthly chart using the Reflex Pincer Method (just made that one up), the PPMs (Professional Price Manipulators, for those of you that don't know) are still trying to Flea Market off their long holdings since their last pump up for a breakout failed miserably.

They'll pull the rug out from under this, soon enough.
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  • #722
  • Oct 5, 2010 7:39pm Oct 5, 2010 7:39pm
Quoting lawgirl21
Chart
If price doesnt drop like a rock soon, I would agree that the level you plotted would be reached. In saying that, I just closed my short EU from 1.3850 for +12.2. We will need it to break this top weekly channel first as it seems like a strong one, before reaching your plotted resistance (in my opinion)
  • #723
  • Oct 5, 2010 7:42pm Oct 5, 2010 7:42pm
Quoting traderathome
Reflex Pincer Method
I like it haha..
  • #724
  • Oct 5, 2010 7:43pm Oct 5, 2010 7:43pm
Quoting lawgirl21
They say it's a zero sum game. Do you see it going up to the next resistence level, I have marked around 1.4180?
Traded commodities and futures for years and yes...that is a zero sum game. Have never really understood if the 4x market is a zero sum outcome though. When you consider all the banks and what not that trade 4x to insure their interest rates...?

I'm looking at the 3925 level, not sure the asian session can nudge it up to 4180. Perhaps, but they need to get started if they are going to pull that off. I really didn't want to see it go below the 3839 level...where it's at right now, next support is around 3825. Have a total exit plan in place at 3818.
Listen to the whispers.... You may learn something
  • #725
  • Oct 5, 2010 7:47pm Oct 5, 2010 7:47pm
Quoting Scrutch
Traded commodities and futures for years and yes...that is a zero sum game. Have never really understood if the 4x market is a zero sum outcome though. When you consider all the banks and what not that trade 4x to insure their interest rates...?

I'm looking at the 3925 level, not sure the asian session can nudge it up to 4180. Perhaps, but they need to get started if they are going to pull that off. I really didn't want to see it go below the 3839 level...where it's at right now, next support is around 3825. Have a total exit plan in place at...

I am short on both pairs, as indicated in my post #685 and #686
  • #726
  • Oct 5, 2010 7:47pm Oct 5, 2010 7:47pm
Quoting traderathome
I think you will be ok, LG.

Based upon the Monthly chart using the Reflex Pincer Method (just made that one up), the PPMs (Professional Price Manipulators, for those of you that don't know) are still trying to Flea Market off their long holdings since their last pump up for a breakout failed miserably.

They'll pull the rug out from under this, soon enough.
That is a very impressive chart, TAH. I totally agree with you..
  • #727
  • Oct 5, 2010 7:50pm Oct 5, 2010 7:50pm
Quoting pierre23
If price doesnt drop like a rock soon, I would agree that the level you plotted would be reached. In saying that, I just closed my short EU from 1.3850 for +12.2. We will need it to break this top weekly channel first as it seems like a strong one, before reaching your plotted resistance (in my opinion)
I don't think it is going to reach that resistance level anytime soon.
  • #728
  • Oct 5, 2010 7:56pm Oct 5, 2010 7:56pm
Quoting lawgirl21
I don't think it is going to reach that resistance level anytime soon.
In the right conditions I wouldn't be surprised to see it reach it in a few weeks. But this isn't a position trading thread so I suppose you could say 'not anytime soon'..
  • #729
  • Oct 5, 2010 8:20pm Oct 5, 2010 8:20pm
Since I am over 4 hours into my new trading day, I am going to look for an H1 Breakout trade. The scan for confirming TFs is the same as for 3 taps so and this could work as a 3 tap trade also.
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  • #730
  • Edited 9:02pm Oct 5, 2010 8:27pm | Edited 9:02pm
We have already been thru the W and D charts on this. H4 looks to be setting up for the short. Headlines indicate nothing of high impact anytime soon, but a medium impact release comes within 3 hours, and another within 8. Based on this, why would the market movers make an earlier move down? Most likely, they won't. They'll use the intervening time to shed longs and soak up shorts. But on the H4 chart, that is only a couple of blips away. The current candle is fresh. It might not be until the end of the next H4 that we begin, in the early part of the London session.
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  • #731
  • Oct 5, 2010 8:58pm Oct 5, 2010 8:58pm
Sorry, may be getting a little off topic here.. but any trading the EU small trading range? +10 and +12 taking two shorts between this ~18pip range.. May be just about to pop as it seems to be picking up momentum, in that case keep an eye out for a breakout

edit: Ahhh I think i know why the images I'm posting are shitty quality.. the max dimensions allowed is 1500x1500... mine are bigger because of my screen so FF reduces the dimensions and image quality..
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  • #732
  • Oct 5, 2010 9:09pm Oct 5, 2010 9:09pm
Quoting pierre23
Sorry, may be getting a little off topic here.. but any trading the EU small trading range? +10 and +12 taking two shorts between this ~18pip range.. May be just about to pop as it seems to be picking up momentum, in that case keep an eye out for a breakout

edit: Ahhh I think i know why the images I'm posting are shitty quality.. the max dimensions allowed is 1500x1500... mine are bigger because of my screen so FF reduces the dimensions and image quality..
Ok, so you need to use a Blackberry....download the pics from it. FF should enlarge so we can see the pixels in the wicks
  • #733
  • Oct 5, 2010 9:19pm Oct 5, 2010 9:19pm
Quoting pierre23
Sorry, may be getting a little off topic here.. but any trading the EU small trading range? +10 and +12 taking two shorts between this ~18pip range.. May be just about to pop as it seems to be picking up momentum, in that case keep an eye out for a breakout

edit: Ahhh I think i know why the images I'm posting are shitty quality.. the max dimensions allowed is 1500x1500... mine are bigger because of my screen so FF reduces the dimensions and image quality..
I know we get restless waiting for set-ups. That's one reason I like the H1 breakout, seems faster, whether it is or not. This is a difficult market week to date. I don't think many positive pips have been posted thus far.

Aren't you up over 70 pips on EURUSD? Keeping pips, I have found, is the hardest thing about this business.
  • #734
  • Oct 5, 2010 9:42pm Oct 5, 2010 9:42pm
I'm short

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Failure is the mother of success: learn from 'her'
  • #735
  • Oct 5, 2010 9:43pm Oct 5, 2010 9:43pm
Quoting traderathome
We have already been thru the W and D charts on this. H4 looks to be setting up for the short. Headlines indicate nothing of high impact anytime soon, but a medium impact release comes within 3 hours, and another within 8. Based on this, why would the market movers make an earlier move down? Most likely, they won't. They'll use the intervening time to shed longs and soak up shorts. But on the H4 chart, that is only a couple of blips away. The current candle is fresh. It might not be until the end of the next H4 that we begin, in the early part of...
I wonder were he got these fancy indicators with the news and stuff



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
  • #736
  • Oct 5, 2010 9:49pm Oct 5, 2010 9:49pm
Quoting fxtsun
I wonder were he got these fancy indicators with the news and stuff



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
I think he is looking at the FF calendar.
  • #737
  • Oct 5, 2010 10:01pm Oct 5, 2010 10:01pm
Quoting traderathome
Ok, so you need to use a Blackberry....download the pics from it. FF should enlarge so we can see the pixels in the wicks
lol yeh might have to
  • #738
  • Oct 5, 2010 10:10pm Oct 5, 2010 10:10pm
Quoting lawgirl21
I know we get restless waiting for set-ups. That's one reason I like the H1 breakout, seems faster, whether it is or not. This is a difficult market week to date. I don't think many positive pips have been posted thus far.

Aren't you up over 70 pips on EURUSD? Keeping pips, I have found, is the hardest thing about this business.
That's true. yes I'm up just trading the EU. And I couldnt agree more about your last sentence.
  • #739
  • Oct 5, 2010 10:12pm Oct 5, 2010 10:12pm
Quoting fxtsun
I wonder were he got these fancy indicators with the news and stuff



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
There's an indicator floating around somewhere which reads the data straight from FF's calander and onto your chart
  • #740
  • Oct 5, 2010 10:21pm Oct 5, 2010 10:21pm
Quoting pierre23
There's an indicator floating around somewhere which reads the data straight from FF's calander and onto your chart
Thank you, will look for it.



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
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