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  • #316,161
  • Oct 29, 2010 6:03am Oct 29, 2010 6:03am
Quoting Mr Hatch
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....
I understand the retracement but with Fibo it looks like it has just penetrated through the whole thing....

But I like your view on AUD
  • #316,162
  • Oct 29, 2010 6:04am Oct 29, 2010 6:04am
i hope the future wont show us that 3810 was good long term long entry for those who missed 3730s .

i am out any how .
I SEE YOU !!
  • #316,163
  • Oct 29, 2010 6:05am Oct 29, 2010 6:05am
Quoting T@rantula
Trending on 5m TF. Well...Friday. U all know what I think of Friday trading.

Nontheless I have opened a trade selling EU with t/p around 3845. Small lot size due to Friday. Also watchout for AUDJPY. Nice shorting opportunities there.
I have just came back. Nice to see T/P is hit. Friday t/p
  • #316,164
  • Oct 29, 2010 6:05am Oct 29, 2010 6:05am
I cant believe we back at 1.3800 after seeing all the selling absorbed

At london close above 1.3900.Evn though 13900 seemed quite weak

All i can say with some degree of certainty is some big dogs expect this to go to 1.4000.
Strong 1.3800 buying level and lots of selling absorbed at 1.3930 from that i got to believe big dogs believe 1.4000 is on the cards.

Maybe this sell off got something to do with month end .and pomo day in us.

A not saying today but its the evidence i see and i got to say i saw.1.5 billion selling absorbed at london close in 233 trades thats not some bloke at home in his front room lol.
making green pips large and red pips small this is my goal.
  • #316,165
  • Oct 29, 2010 6:06am Oct 29, 2010 6:06am
Quoting Reesy
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....

Welcome aboard, have you traded stocks or something else before?

Thoughts look ok I reckon
  • #316,166
  • Oct 29, 2010 6:07am Oct 29, 2010 6:07am
Quoting Larseg
I understand the retracement but with Fibo it looks like it has just penetrated through the whole thing....

But I like your view on AUD
m
Attached Image
  • #316,167
  • Oct 29, 2010 6:08am Oct 29, 2010 6:08am
stoped at 38% im out
  • #316,168
  • Oct 29, 2010 6:09am Oct 29, 2010 6:09am
How to make a short skeeze? Easy, place some whispers on the wire and enjoy


Market News Int.
EURO-DOLLAR: mixed reports on Portugal, some suggesting budget details
agreed, others close to agreement, possibly as soon as today. However,
this talk has acted to provide euro with a boost, exrtending
euro-dollar's recovery off $1.3806 to $1.3860. Euro-sterling moves back
above stg0.8700, while euro-yen edges back toward Y112.00.


Bullshit. There's no agreement or any new or comment regarding this.
  • #316,169
  • Oct 29, 2010 6:11am Oct 29, 2010 6:11am
3859/61 looks even more important to me now....
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 17 KB
Look Sharp/Trade Tight
  • #316,170
  • Oct 29, 2010 6:11am Oct 29, 2010 6:11am
Quoting disegnosys
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...

Your right, as I said I have one trading model which I developed (don't use it now, but still profitable to use it though) However, this trading model is a reversal from how I killed my first account... extreme risk/reward...

These days I find it annoying and mentally disturbing to trade such a way, I settle for a lower risk reward and set & forget...
  • #316,171
  • Oct 29, 2010 6:11am Oct 29, 2010 6:11am
Quoting paul1
I cant believe we back at 1.3800 after seeing all the selling absorbed

At london close above 1.3900.Evn though 13900 seemed quite weak

All i can say with some degree of certainty is some big dogs expect this to go to 1.4000.
Strong 1.3800 buying level and lots of selling absorbed at 1.3930 from that i got to believe big dogs believe 1.4000 is on the cards.

Maybe this sell off got something to do with month end .and pomo day in us.

A not saying today but its the evidence i see and i got to say i saw.1.5 billion...
I SEE YOU !!
  • #316,172
  • Oct 29, 2010 6:13am Oct 29, 2010 6:13am
Quoting Larseg
Welcome aboard, have you traded stocks or something else before?

Thoughts look ok I reckon


Thanks, yeah i've traded stocks before and started learnng FX about a yr ago, trading in my free time. I'm considering going FT some time next year so just testing the water at the moment. I trade mainly off price action/ S/R off 5 min charts. Looking to consistently achieve an average of +20 per day before I consider going full time.
  • #316,173
  • Oct 29, 2010 6:13am Oct 29, 2010 6:13am
Quoting j_d
How to make a short skeeze? Easy, place some whispers on the wire and enjoy


Market News Int.
EURO-DOLLAR: mixed reports on Portugal, some suggesting budget details
agreed, others close to agreement, possibly as soon as today. However,
this talk has acted to provide euro with a boost, exrtending
euro-dollar's recovery off $1.3806 to $1.3860. Euro-sterling moves back
above stg0.8700, while euro-yen edges back toward Y112.00.


Bullshit. There's no agreement or any new or...
you are talking bullshit here. german media are full of the agreements.
Attached Image
  • #316,174
  • Oct 29, 2010 6:14am Oct 29, 2010 6:14am
Quoting T@rantula
I have just came back. Nice to see T/P is hit. Friday t/p

Evening mate,

have you bought that tarantula yet?

Inserted Video
  • #316,175
  • Oct 29, 2010 6:17am Oct 29, 2010 6:17am
Have a good and well deserved weekend.

See you guys Monday


Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #316,176
  • Oct 29, 2010 6:19am Oct 29, 2010 6:19am
Quoting DMA Trader
Have a good and well deserved weekend.

See you guys Monday


you, too.
  • #316,177
  • Oct 29, 2010 6:19am Oct 29, 2010 6:19am
Attached Image (click to enlarge)
Click to Enlarge Name: euuu.PNG Size: 24 KB


in case the price manages to close (4H) below 1.3855, we may see another retest of 1.3805 which happens to be a support level. the pair is going to face resistance at 1.3874. A breach will send the price to 1.3924
  • #316,178
  • Oct 29, 2010 6:21am Oct 29, 2010 6:21am
im not willing to sell here because of the hour close need to see some top development..

i got this on my charts fibs and one tl
Attached Image
  • #316,179
  • Oct 29, 2010 6:22am Oct 29, 2010 6:22am
http://i54.tinypic.com/2u70wgl.jpgM15 200ma is around 1.3846.

possible support should candle close above.
400 pips remaining.
  • #316,180
  • Oct 29, 2010 6:23am Oct 29, 2010 6:23am
well if they get going above 3860, I have some minor resistance 3871/73, with heavier resistance 3879/81....
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 17 KB
Look Sharp/Trade Tight
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