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  • #316,141
  • Oct 29, 2010 4:57am Oct 29, 2010 4:57am
when the news release, the price usually don't go with the news. sometimes it goes against news. sometimes first it against news but at finally it follows the news. Why ? Can anyone tell me ? thanks.
  • #316,142
  • Oct 29, 2010 4:58am Oct 29, 2010 4:58am
I made 125 pips on my EU short trade with a 4H chart.
I wish all my trades worked out as well as this one did.

Attached Image
  • #316,143
  • Oct 29, 2010 5:02am Oct 29, 2010 5:02am
Quoting disegnosys
I made 125 pips on my EU short trade with a 4H chart.
I wish all my trades worked out as well as this one did.

Respect!

What risk/reward was that? 1:20 ?
And what is your win %?

I have something similar but with Heiken Ashi entry on 1M exit on 4H...Don't use it now though...
  • #316,144
  • Oct 29, 2010 5:11am Oct 29, 2010 5:11am
taking out 2/3, rest free trade.

bounce - if any - should be contained, pending set-
  • #316,145
  • Oct 29, 2010 5:28am Oct 29, 2010 5:28am
Quoting Mr Hatch
taking out 2/3, rest free trade.

bounce - if any - should be contained, pending set-

Where does everyone get this bounce from? Is because of the rapid bear movt?
  • #316,146
  • Oct 29, 2010 5:33am Oct 29, 2010 5:33am
Intraday support (h4) check Wednesday Europe Session.

I hope it helps

sisse
Quoting Larseg
Where does everyone get this bounce from? Is because of the rapid bear movt?
Pending conversations? PM for a chat...I am mainly in OTM now
  • #316,147
  • Oct 29, 2010 5:36am Oct 29, 2010 5:36am
Quoting Larseg
Is because of the rapid bear movt?
The stronger the SR the bigger the bounce.
Don't just be a sheep : make your own idea of it.
  • #316,148
  • Oct 29, 2010 5:38am Oct 29, 2010 5:38am
Quoting Larseg
Where does everyone get this bounce from? Is because of the rapid bear movt?

Larseg,

I am a new poster here and this is only my 2nd day trading full time (trialling during time off day job). I am by no means an expert but my comment is merely to gain some feedback on my thinking.

My thoughts are that after a nice downtrend price momentum appears to be stalling slightly and possibly finding some resistance just above 1.3800. I would be looking for a Long intraday entry at a break of 13840 with an agressive stop loss as I class this as a risky test of a market bounce. I will also consider a short entry at a break of 1.3800.

However I am cautious that slow momentum is a response to the news release at 1.30pm (Lon). I would be interested on peoples feedback on my thoughts.

Thanks

R
  • #316,149
  • Oct 29, 2010 5:40am Oct 29, 2010 5:40am
Quoting Larseg
Where does everyone get this bounce from? Is because of the rapid bear movt?
look, a move needs a retracement, healthy between 23 and 62%.

the term "bounce" isn't really correct here. I should have said "retracement".

btw:

The Stops Look Like They Are All Done
Major pairs are bouncing after AUD/USD led the crowd lower. AUD/USD took out reported buying interest at 97 cents and traded down to 0.9678 in a stop hunt. EUR/USD made a fresh intraday low at 1.3807 before bouncing back above 1.3820. AUD/USD is up around 35 pips from its low at 0.9713. Of course there is no news just month end flows and stop hunting.
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  • #316,150
  • Oct 29, 2010 5:44am Oct 29, 2010 5:44am
Quoting Larseg
Respect!

What risk/reward was that? 1:20 ?
And what is your win %?

I have something similar but with Heiken Ashi entry on 1M exit on 4H...Don't use it now though...
This was just one of the few perfect trades I've had but most don't work that perfectly.

Well I'm mostly a short term trader with a win % is 85-95%, scalping 5 to 20 pips and once in a while getting 40 to 80 pips.

I look for good S/R levels as price turning points which works on any TF. I really don't use any indicators, I just trade PA. The EMA 50, EMA 200, and BB are just used for guide for directions or possible levels of entry or targets. I mainly trade 2M, 3M, 5M, 10M, and 15M charts for short term trades. My swing trades I use 1H, 4H, and 1D charts but all key levels are deteremined from 1W, 1D, 4H, and 1H charts.

Since the EU range is 100- 150 pips 4h, daily TF are forming a wedge, and setting up for next week's big events, my bias was for looking for a good short because yesterday was long.

One thing I'm learning is win % is not as important as keeping your losses small. This with good money and trade management also makes the difference.

Peace
  • #316,151
  • Oct 29, 2010 5:44am Oct 29, 2010 5:44am
more support 3810/12....
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Look Sharp/Trade Tight
  • #316,152
  • Oct 29, 2010 5:50am Oct 29, 2010 5:50am
if my theory of range getting smaller and smaller 1.38 could be a good dip to buy. it's friday. let's not forget that
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #316,153
  • Oct 29, 2010 5:54am Oct 29, 2010 5:54am
Quoting DMA Trader
if my theory of range getting smaller and smaller 1.38 could be a good dip to buy. it's friday. let's not forget that
Did at 1.3808 but closed it, cannot concentrate that well today, weekends coming and lots of stuff ahead

I would be surprised if price goes through 1.3865/75. Its the target if hourly closes above 1.3828.
They think they are smarter than I am.
  • #316,154
  • Oct 29, 2010 5:54am Oct 29, 2010 5:54am
Quoting DMA Trader
if my theory of range getting smaller and smaller 1.38 could be a good dip to buy. it's friday. let's not forget that

So very true to me.
  • #316,155
  • Oct 29, 2010 5:55am Oct 29, 2010 5:55am
Quoting DMA Trader
77.7 next. . . . .
Ok that level was hit. now pivot area will be 77.4-77.6
my worst case scenario if i can say like that is we are going to stay now between 77.4 - 77.6 or 1.38-1.39

so like i've said before. reduce positions longs and shorts before next week BIG BEN event
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #316,156
  • Oct 29, 2010 5:57am Oct 29, 2010 5:57am
Quoting Z3iz3i
Did at 1.3808 but closed it, cannot concentrate that well today, weekends coming and lots of stuff ahead

I would be surprised if price goes through 1.3865/75. Its the target if hourly closes above 1.3828.
i was waiting to buy at 1.38 like a surgeon. and miss the entry.
greed doesn't help all the time
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #316,157
  • Oct 29, 2010 5:57am Oct 29, 2010 5:57am
change of direction waiting hour close to get more bulls in..
  • #316,158
  • Oct 29, 2010 5:57am Oct 29, 2010 5:57am
Well I had been looking for a bounce/retrace to set up a short, but I notice my 1hr is turning up so I'm off to the sideliness....
Look Sharp/Trade Tight
  • #316,159
  • Oct 29, 2010 5:59am Oct 29, 2010 5:59am
Quoting sisse
Intraday support (h4) check Wednesday Europe Session.

I hope it helps

sisse

I don't really see any resistance before 1.3733 or 1.3700...
But I don't use S&R

But nice call Adding on my shorts now....
  • #316,160
  • Oct 29, 2010 6:01am Oct 29, 2010 6:01am
rest closed +40pips
I SEE YOU !!
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