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  • #320,381
  • Nov 5, 2010 3:34pm Nov 5, 2010 3:34pm
Quoting sharteel
I think your problem will be the Volume, maybe. Why ? because, currently, the volume is lowest that yesterday and 1.4030 is strong support.

I think, this candle is not reversal signal. Just a repositionning action.
i was joking about short more i live because MM nothing else
i am not good trader but still on surface
i do realize it's Friday so we can see spike up on Sunday
but i make things simple a bit of fundies in long term and a bit of trendlines and bit of MM and i can live
i do agree with 1,4030 as a strong reversal point but as i said, strong points need strong reaction , maybe because of Friday we do not see that
take care
  • #320,382
  • Nov 5, 2010 3:44pm Nov 5, 2010 3:44pm
Quoting grashid


1. i dun bother up or down for 100-200pips..wtf...i love quite n safe trade
g
that's the right attitude
  • #320,383
  • Edited 4:16pm Nov 5, 2010 4:01pm | Edited 4:16pm
we didnt get to close below 4026. but we did below 4076 and held... take a look at the weekly bodies. we are on the edge... to close to call... mofus are a mofu.. have a good weekend. oh oil is above 87.... watch eu level in after hour markets. usdx closed above weekly lt.. it also touched its normal mapa and is higher atm.. we usually bounce from here after. so far we have.. we usually bounce to a level = to 80.57.. time will tell. still holding my eu short. ..i will close if need be
those who can, do. those who cant, talk about those who can
  • #320,384
  • Edited 4:23pm Nov 5, 2010 4:09pm | Edited 4:23pm
My 1Hr Channel & Pivots for Sunday - Have a good weekend all
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 74 KB
Disclaimer: Check your 1m charts
  • #320,385
  • Nov 5, 2010 4:16pm Nov 5, 2010 4:16pm
Quoting PayTheLimit
What up fool?
Hey bud. Hope you caught a good chunk of the E/U short play. I totally ran outta gas last night and slept through NFP, missed the entire NY session. I saw they rolled out the PIIG's and took some profit, as I expected. We'll see how much mileage is in it this time. Maybe Japan will spice things up. As long as its moving, I won't complain. Probably back to short-term ranging next week. Have a good weekend & we'll catch you then.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #320,386
  • Nov 5, 2010 4:45pm Nov 5, 2010 4:45pm
Quoting mercy seat
http://cdn.forexfactory.com/images/attach/pdf.gif

2010-11-05_European Forex Technicals - USD In Persistent Downtrend.pdf (8.9 KB)




European Forex Technicals: USD In Persistent Downtrend
5 Nov 2010, 08:06

By Francis Bray
A DOW JONES NEWSWIRES COLUMN



Intraday EUR/USD: Bulls remain in control of the near-term following the push above 1.4200, and a retest of Thursday's high at 1.4283 is expected....

http://cdn.forexfactory.com/images/attach/png.gif

2010-11-05_00h00_Simplified Stratos _ EURUSD (NosStratos Dextor).PNG (116.3 KB)

http://cdn.forexfactory.com/images/attach/png.gif

2010-11-05_21h16_ChartStation_EURUSD 240min _ 001.PNG (104.7 KB)



Ok ... we have seen one more time a fake of a rhomb that some might have named a 'diamond formation' ... but so what ? ! ... continuation has been the theme ... and our system did calculate a more than three days uptrend potential (until today) ...

As to be seen in reply to a new member ... we were not soo surprised that it would go higher ...

And this morning ... we were not soo surprised that it would go lower today ...

Moreover ... with good and precise calculations and estimations ... it is not soo difficult to collect more than 20 pips profit (!) per pair on every single day ... und zwar nachhaltig ...

The point is ... you must come to a clue at the beginning of a day or trading session ... as every day has only one or two major moves ... but starring at the charts and screens ... that makes you come to confusing and defensively minded decisions ... makes mad thereof ... therefor just plan your trades and try to arrive at a decision at the beginning of a session ... try to detect typical breakout levels and stop levels that work for you ... and just enter some entry stops linked with profit stops ... and go away ... don't touch it then and don't watch it ... that's all ...


20 minutes left until the last real institutions will be willing to change something ...


Schönes Wochenende


;-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-11-05_00h00_Simplified Stratos _ EURUSD (NosStratos Dextor).PNG Size: 116 KB
Click to Enlarge Name: 2010-11-05_21h16_ChartStation_EURUSD 240min _ 001.PNG Size: 105 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #320,387
  • Nov 5, 2010 4:48pm Nov 5, 2010 4:48pm
Quoting druckenmillr
10,000/pips month

lollllllllllllllllllllllllllllllllll
I've seen the report ... He was about 75,000/year. This is total pips, given that he may add up to 15 times in a single trend. He turns a 100-150 pips trade into a 1000 pips one, twice a week. Mainly trading GBP pairs as far as I've seen.

There are people betting 50 lots on a 10 pips trades, others bet 0.1/0.2 lot on 1000 pips trades ...
Don't just be a sheep : make your own idea of it.
  • #320,388
  • Nov 5, 2010 5:07pm Nov 5, 2010 5:07pm
Quoting gatorinla
we didnt get to close below 4026. but we did below 4076 and held... take a look at the weekly bodies. we are on the edge... to close to call... mofus are a mofu.. have a good weekend. oh oil is above 87.... watch eu level in after hour markets. usdx closed above weekly lt.. it also touched its normal mapa and is higher atm.. we usually bounce from here after. so far we have.. we usually bounce to a level = to 80.57.. time will tell. still holding my eu short. ..i will close if need be
Yes the last 4 weekly candles are very indecisive.
Today's zone = Tomorrow's opportunity!
  • #320,389
  • Nov 5, 2010 5:12pm Nov 5, 2010 5:12pm
Quoting thorr
the price is sitting on the trendline , no strong rejection so i guess we will break down soon
i like the pin bars on the trend line indicating that trend line is strong
i dont see it here
besides usd index going up
so short should not worry to much in my opinion
have a nice weekend

There were no specific selling pressure on this down move, modest volume on a day with indecession and profit taking. I am certain it will push up over the next 2-4 days. Let's hit 44x so we can focus on the real downmove. When we hit the big bears we will know and see volume and momentum picking up. Today was not such a day.
  • #320,390
  • Nov 5, 2010 5:17pm Nov 5, 2010 5:17pm
Can I get a hell yeah! from someone.

Quoting courtt5
I am targeting 1.4035 by close of trading tomorrow
  • #320,391
  • Nov 5, 2010 5:45pm Nov 5, 2010 5:45pm
Quoting enterfx
There were no specific selling pressure on this down move, modest volume on a day with indecession and profit taking. I am certain it will push up over the next 2-4 days. Let's hit 44x so we can focus on the real downmove. When we hit the big bears we will know and see volume and momentum picking up. Today was not such a day.
If 1,4000 gives way then we may have seen top of euro for a while ... 1.3650 1st...

there has been nothing but selling since fomc ...

qe2 is over 1 year , not as large as thought blah blah...now that is over we can get on with greek and irish issues...lol

The red lines indicate sellers. The only thing bothering me is the volume that came in on nfp sell off today BUT that seems to have been absorbed for now. I am expecting an up move into 4100 then want to see if we get sellers up there.

Attached Image (click to enlarge)
Click to Enlarge Name: eu01.jpg Size: 155 KB
Blogging daily now at www.volume.zone
  • #320,392
  • Nov 5, 2010 5:54pm Nov 5, 2010 5:54pm
Quoting malcolmb14
If 1,4000 gives way then we may have seen top of euro for a while ... 1.3650 1st...

there has been nothing but selling since fomc ...

qe2 is over 1 year , not as large as thought blah blah...now that is over we can get on with greek and irish issues...lol

The red lines indicate sellers. The only thing bothering me is the volume that came in on nfp sell off today BUT that seems to have been absorbed for now. I am expecting an up move into 4100 then want to see if we get sellers up there.

Attachment
Sup Malc, closed my short from 4120 Have a pending set for 4128, targeting 3760. I didn't feel like holding over the weekend, plus I see a nice pullback on the cards for a better entry. 50 percent fibs is a strong magnet these last few weeks.
All that is left in FF is just plain garbage. "Cloggie"
  • #320,393
  • Nov 5, 2010 6:01pm Nov 5, 2010 6:01pm
Quoting Honored
I am with you . Glad to see some long term traders. Just coz EU drops 250 pips a day, all forums users start to short this pair as usual lol ....

DO NOT SHORT THIS JUST YET. BEWARE!!!
Totally agree! NOT YET!
  • #320,394
  • Nov 5, 2010 6:17pm Nov 5, 2010 6:17pm
Quoting moz66fx
Totally agree! NOT YET!
so basically you guys lost out on 280 pips today, is that what you are saying? Oh and I do trade longer term than most.
All that is left in FF is just plain garbage. "Cloggie"
  • #320,395
  • Nov 5, 2010 6:17pm Nov 5, 2010 6:17pm
Quoting tonyo524
Sup Malc, closed my short from 4120 Have a pending set for 4128, targeting 3760. I didn't feel like holding over the weekend, plus I see a nice pullback on the cards for a better entry. 50 percent fibs is a strong magnet these last few weeks.
nice Tony ... I still got mine .. with sl set at 25 pip. I like your 3760 target.

Looks like we may get a little bounce.

Have a great weekend !
Blogging daily now at www.volume.zone
  • #320,396
  • Nov 5, 2010 6:30pm Nov 5, 2010 6:30pm
Count and analysis updated on my blog (see signature)


Have all a nice weekend.

Kind regards, Markus
  • #320,397
  • Nov 5, 2010 6:47pm Nov 5, 2010 6:47pm
Quoting TradeForexFx
Hatch, I value your comments and comments from other successful traders. My simple mind however fails to understand why you as well as others tell me that what I say is not possible. Perhaps this is the reason I am from the...
hi there,

first, i didn't say it's not possible. it's hard, as soon as any emotion comes into play.

i just recently read a very good book about the psychological pressure of trading, and the very first question that was raised, was: "are you a farmer or a hunter?"
this market offers opportunities for both, farmers and hunters, but it clearly prefers the farmers. let me put it briefly, farmers are those guys who think a bit longer termish about everything concerning their lifes, investments, just everything. our whole society is based on the conception of longer term farming, created by farmers.
the hunter himself is a person that can excel in extraordinary situations, making some awesome trades, just to put everything at stake in the next situation. for a farmer, the security of being well-positioned in a relatively safe place (outside a mofu for example) is much more important than a quick gain. the hunter is sitting in front of his screen in relative silence, watching, waiting for an opportunity to pick those 20 pips you just mentioned and leave with his prey.
which kind of trader (human being) are you?

i can tell you about myself, that i have experienced both sides now, as i just swapped from hunting to farming... okay, for now, i wasn't completely successful to suppress the "hunting-gene" inside me... with awful consequences to my account!

what you ask for is a personal experience about yourself. when you are able to sit on your hands, until market allows you to position your trade in a safe place, you will succeed in this business and then you can forget about the daily target, because of the movements just this single pair makes even during relatively calm sessions. become able to succeed for 3 days, make it 4... sit on your hands or use a relatively tight stop and you will have that "daily average", roughly.

don't put any pressure on yourself, never! i made any of the following mistakes, and i am trading live with real hard earned money for nearly a year now:
- i followed signals without understanding them (bad choice)
- i tried to go all in as a revenge-trade (very bad choice even if you succeed. the best you could do is to succeed and immediately shrink your positions down again, but human psyche plays tricks on you by telling you, "you are the greatest, you succeeded once, and it will happen again...")
- i called tops and bottoms to myself
- i took care for every single statement made by others

as a result i quintupled my account, and lost more than 60% of it again. i went through anger, despair and swore every curse on this market, just to realize that it was me in the end. always...

the best advise was once given by gator as a side-statement somewhere. he said, "double your account by risking only 0.01% per trade - if you succeed, you can start to earn money by trading." hard exercise.

in the course of the past year i had a lot of time to look at bad trades and find out a lot about myself. i am far from finished... and that's just the aspect of personality. when it comes to a trading plan, a system, i am still "developing" a fixed set of tools that i can use to my advantage.

i have found (but unfortunately don't have the link to it now) a posting made by fx-petra, where she stated that she is of the opinion - here i quote from memory - a trader must be able to answer the questions about the requirements for an entry, the rules of money management, the strategy to exit or change a trade. only if you can answer these questions for every trade you take, you can be considered a trader.

she's right. anything else will not succeed in the long run.

that's my opinion.
  • #320,398
  • Nov 5, 2010 7:52pm Nov 5, 2010 7:52pm
Quoting Honored
I am with you . Glad to see some long term traders. Just coz EU drops 250 pips a day, all forums users start to short this pair as usual lol ....

DO NOT SHORT THIS JUST YET. BEWARE!!!
Agreed, bought last night at 4200, again at 4130 and again at 4070... All targeting 4500. Let's hope we don't gap down too much! And that boj behave!!!
@pawpaw1000 on Twitter
  • #320,399
  • Nov 5, 2010 8:03pm Nov 5, 2010 8:03pm
Quoting Mr Hatch
hi there,

first, i didn't say it's not possible. it's hard, as soon as any emotion comes into play.

i just recently read a very good book about the psychological pressure of trading, and the very first question that was raised, was: "are you a farmer or a hunter?"
this market offers opportunities for both, farmers and hunters, but it clearly prefers the farmers. let me put it briefly, farmers are those guys who think a bit longer termish about everything concerning their lifes, investments, just everything. our whole society is based on the...

wow...bible of trading in one post...

so easy in words...

and so increbile hard to achieve in real...

why..?

greed/scare factor determine all?
  • #320,400
  • Nov 5, 2010 8:08pm Nov 5, 2010 8:08pm
Quoting pawpaw1000
Agreed, bought last night at 4200, again at 4130 and again at 4070... All targeting 4500. Let's hope we don't gap down too much! And that boj behave!!!
Good luck with these trades.

And for your earlier post, technical was pointing down once 1,4185 was broken.
We will probably hit 1,4000 to clear some stops and catch some buyers. I don't know if it will bounce from there or not.

Btw i am curious to know where is your stop ?

Cheers
COT: The precious data ignored
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