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  • #315,581
  • Oct 28, 2010 8:50am Oct 28, 2010 8:50am
Quoting wormboy
okay final trades were taken out @3834 for the 100. Nice little bull run since the last drop to 3733 yesterday taking out the subltl along the way. Current price is facing resistance at the W1 pvp. If price continues to surge, 4025 will be the next target. Else, we drop back to yesterday's support to retest. No weakness in sight yet, so taking short here atm is a bit of a gamble imo.

good luck to all.

btw, malcolm nailed it with 3900 test today. nice one mate
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #315,582
  • Oct 28, 2010 8:52am Oct 28, 2010 8:52am
Quoting dbfusion
was hoping for extra 4 pips to short with full position but PA and targets for this up move have been met . if it went more i would add but it didn't .
so I stuck with that half position .

I don't think you will see higher easily .

ofcorse this is the market and its forex and anything can happen . specially when we fight the trend .

I don't hope for more than 3860 and i am out .

its extreme up no weak signals whatsoever .
only on 5m chart ! and up target achivement on hourly !

so 30-40 pips down and I am out , this thing can range...
Yup, i understand. I am just looking the signal from behaviour of stocks because its driving force today.

Even at the top dips are bought and i dont see yet any powerful seller around.
They think they are smarter than I am.
  • #315,583
  • Oct 28, 2010 8:54am Oct 28, 2010 8:54am
Quoting goods
Well I am going to confess something because this will only help me to realize about myself and my trading style.

Learning from your mistakes is good
It's made even better when you realise your friends in FF care enough to respond to your little realisation rant. Happy and successful trading
  • #315,584
  • Oct 28, 2010 8:54am Oct 28, 2010 8:54am
Quoting DMA Trader
Still looking for 392... Let's smash through this little ol 39...
  • #315,585
  • Oct 28, 2010 8:55am Oct 28, 2010 8:55am
Bulls looking to paint the 1hr/4hr close, cant say I blame them...
Look Sharp/Trade Tight
  • #315,586
  • Oct 28, 2010 8:57am Oct 28, 2010 8:57am
Quoting goods
Well I am going to confess something because this will only help me to realize about myself and my trading style....
Excellent post
  • #315,587
  • Oct 28, 2010 8:59am Oct 28, 2010 8:59am
Quoting TradeForexFx
Hi Venice,

Really appreciate it if you could tell us more about how you use stochs. With as much info as possible.

Thanks

TF
Hi Venice,

In this huge thread you might have missed my request for more on your stoch based trading methods. Therefor reposting request.

Thanks

TF
  • #315,588
  • Oct 28, 2010 9:01am Oct 28, 2010 9:01am
4hr close..
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 26 KB
Look Sharp/Trade Tight
  • #315,589
  • Oct 28, 2010 9:01am Oct 28, 2010 9:01am
A spike to 3903 and a close below 3898 of the 4h candle (in 2 hours) would yield a ABCD to 3556 which would be a 38.2 of the whole up move since 24 aug..
  • #315,590
  • Oct 28, 2010 9:03am Oct 28, 2010 9:03am
Quoting goods
Well I am going to confess something because this will only help me to realize about myself and my trading style....
Thank you goods! I thought I was the only one here having problems with this trade... and YES this past 2 weeks have helped me to learn better PA, gave a tough lesson in discipline and money management and if I come out of this alive I will be the most disciplined trader ever- No more than 2%-3% of my trading capital in one single trade ever again!
I still believe that the EUR will rally 'til the end of the year though....the only thing that may worry is ELECTIONS next week....any thoughts?
  • #315,591
  • Oct 28, 2010 9:04am Oct 28, 2010 9:04am
Quoting TradeForexFx
Hi Venice,

In this huge thread you might have missed my request for more on your stoch based trading methods. Therefor reposting request.

Thanks

TF
Hi Trade, I did. I was in a bad mood yesterday too when I wrote my reply to Tarantula so it may have seemed a little more aggressive in tone then what it really should have been, for that I apologize if anyone got taken up on that.

What exactly are you looking for? I can tell you that I use very low settings on the stochastic (causes more whipsaws, but better entries), coupled with the Boulinger Bands. The very last peice of information is PA. I will only trade a cross on stochastic if the current candle stick's price is higher then the last candlesticks close. Stochastics work best in a ranging environment, so I take every trade in a range. If there is trends, I look to enter with the trend.
  • #315,592
  • Oct 28, 2010 9:04am Oct 28, 2010 9:04am
was hoping for extra 4 pips got extra 9 pips

shorting again another half position @ 3905

now good bye my old target and looking for 3870 !

or give this guy the 20 pips i took earlier , which i rarely do !!!
I SEE YOU !!
  • #315,593
  • Oct 28, 2010 9:06am Oct 28, 2010 9:06am
Quoting Lorna

Learning from your mistakes is good
It's made even better when you realise your friends in FF care enough to respond to your little realisation rant. Happy and successful trading
Yes I appreciate and I am trying to filter out the weak attempts by others and I am no more guilty than they are there are alot of great people here. I dont go here asking for where price is going to go because that I believe is the wrong reason to read this forum. Everyone here sees things differently, if people cant make a decision for themselves they need to re-evaluate trading.
Know when to hold em, Know when to fold em!
  • #315,594
  • Oct 28, 2010 9:06am Oct 28, 2010 9:06am
Here is my 2 day chart update

As you can see supply is getting lower. And if today is one day to respect
we should closely watch 1.392 area of course not on 1Min chart rather on larget TF

First supply zone was near 1.4 than lower (1.392) but you can also see that demand come before last low. that's why yesterday wasn't such a panic thay for longer time frames.

Now.

The range will get smaller as we approach the BB QE NFP moment aka next week. so don't get fooled.

DMA
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 85 KB
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #315,595
  • Oct 28, 2010 9:06am Oct 28, 2010 9:06am
sounds like you really want to be going long ?

Quoting dbfusion
was hoping for extra 4 pips got extra 9 pips

shorting again another half position @ 3905

now good bye my old target and looking for 3870 !

or give this guy the 20 pips i took earlier , which i rarely do !!!
  • #315,596
  • Oct 28, 2010 9:10am Oct 28, 2010 9:10am
if break above 392 then 395 realistic target?
  • #315,597
  • Oct 28, 2010 9:11am Oct 28, 2010 9:11am
Quoting DrLobo
sounds like you really want to be going long ?


i like it when euro is high

good for my savings
I SEE YOU !!
  • #315,598
  • Oct 28, 2010 9:11am Oct 28, 2010 9:11am
Quoting dbfusion
was hoping for extra 4 pips got extra 9 pips

shorting again another half position @ 3905

now good bye my old target and looking for 3870 !

or give this guy the 20 pips i took earlier , which i rarely do !!!
Guys... read goods post from earlier. Stop trying to pick tops and bottoms!

Trading with the trend will make you correct far more than that elusive actual top or bottom.

I will gladly take a loss on trend reversal, because if the trend reverses and I take one loss... chances are, I will have plenty of opportunity to go short...
  • #315,599
  • Oct 28, 2010 9:12am Oct 28, 2010 9:12am
Just closed my EUR/USD long at 1.3900, I have a feeling price may begin to fall back down, but overall not a bad day up about 57.4 pips, still have my short on U/J open which is up 38 pips and growing. Overall not a bad day, I think I am guaranteed 100 pips for the day. If I could have stuck around on my computer I would have done some fancy take profit strategy. I am still kind of working on that.

Shame I missed a G/U oppurtunity that was huge swing up. I think about 100 pips maybe, it just happened to fast, and I didn't get a good chance to enter(window was small, before my rules say it's too late to enter).

No losses so far this week, made a great trade on Tuesday, but again missed some more oppurtunities. Well I am going to keep practising, and soon enough I'll be trading for real. Once I get a bit more confident in my strategy I'd love to post charts.

Good Luck.
Thanks.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #315,600
  • Oct 28, 2010 9:13am Oct 28, 2010 9:13am
It's so close I can taste it
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