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EURUSD

  • #328,601
  • Nov 18, 2010 11:52am Nov 18, 2010 11:52am
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 18_11_2010 holding.jpg Size: 116 KB


Some people call this testing support.
I see it as getting you out of you entries.
Because this has happened so soon after the recent 200 pip drop its a strong sign to me that the downtrend may soon resume.

Unless the more experienced traders can explain what i see as testing obvious short entry points?

The last major high i have as 3750 currently the high 3660 thats a 90 pip drop how close to 3750 would determine how strong the down trend is now?
making green pips large and red pips small this is my goal.
  • #328,602
  • Nov 18, 2010 11:54am Nov 18, 2010 11:54am
should the abc pattern hold in this scenario for bears then we go down
  • #328,603
  • Nov 18, 2010 11:55am Nov 18, 2010 11:55am
Quoting cloggie
Plenty good ones at the "platform Tech" forum. Seen some of Hannover's work, he seems to know what he is doing.
Tks cloggie
The best thing that can happen to you is to find out where you're wrong.
  • #328,604
  • Nov 18, 2010 11:55am Nov 18, 2010 11:55am
interesting price movement on the 1m on eu as well as usdx. very staright line with tiny ranges. is this indicative of anything particular?
  • #328,605
  • Edited 12:08pm Nov 18, 2010 11:55am | Edited 12:08pm
Quoting Decimal
Hi chaps,

I am posting this as a call for help I guess and would be very grateful to receive any direction/proposals for those senior contributors who are willing/prepared to assist me.

..........
Here's your choices:

1) hire a professional trader with a proven track record to trade for you. I only trade my own money. Don't trust anyone that frequents this forum or any other forum with your money. lol.
2) learn how to trade on your own, BUT REDUCE YOUR ACCOUNT and trade pennies or nickels until you can trade profitably, anyone can push a button and buy or sell. It takes thousands of hours of chart time to be a profitable day trader.
3) Continue doing what you're doing and you'll be back here in a few more months asking for advice yet again.

Be realistic about this ... you have no idea what you're doing and you're trading $1000 a pip! That's reckless! Believe me if you can't trade pennies or nickels you can't trade a thousand a pip!
  • #328,606
  • Nov 18, 2010 11:55am Nov 18, 2010 11:55am
Quoting cloggie
3611, remember, up 60 down 30 and it ties in perfectly with earlier trigger.

Does that now mean go long at ~3614 (with TP around ~3660) if it holds?
We're all stories in the end. Just try to make it a good one.
  • #328,607
  • Nov 18, 2010 11:55am Nov 18, 2010 11:55am
SL: 3600 TP : 3670

To be honest regretting it now. (terrible at picking bottoms like this. should wait for pa confirmation)
I should have been shorting from the top was nice trend in motion.


Quoting cagriguler
SL ?
  • #328,608
  • Nov 18, 2010 11:56am Nov 18, 2010 11:56am
Quoting Traderji
Does that now mean go long at ~3614 (with TP around ~3660) if it holds?

I will be closing my short and will let price tell me what to do next.
  • #328,609
  • Nov 18, 2010 11:58am Nov 18, 2010 11:58am
Quoting mfoste1
we never touched the dp at 3517 in asia....we could be headed for that....
Still, the first part of that trade went well , got 25 pips on news trading, the other part stopped again at BE.

3570 needs to break in order to dip down to 3520.
  • #328,610
  • Nov 18, 2010 11:59am Nov 18, 2010 11:59am
Quoting paul1
Attachment

Some people call this testing support.
I see it as getting you out of you entries.
Because this has happened so soon after the recent 200 pip drop its a strong sign to me that the downtrend may soon resume.

Unless the more experienced traders can explain what i see as testing obvious short entry points?

The last major high i have as 3750 currently the high 3660 thats a 90 pip drop how close to 3750 would determine how strong the down trend is now?
Price will almost always come back to restest a support or resistance break, then continue on in the original direction of the break. Why do you think certain levels earn the title of support or resistance in the first place?

A lot of peoples strategies out their only involve playing off of the retest of a break. (Triangle breakouts, S/R etc).
  • #328,611
  • Nov 18, 2010 12:01pm Nov 18, 2010 12:01pm
h1 has huge reversal candle...something is suspicious..hmm
  • #328,612
  • Nov 18, 2010 12:02pm Nov 18, 2010 12:02pm
SL 574
Entry 624
TP 750
Still in this, a little worried but I will hold. I've had my eye on 750 as peak before resuming downtrend and plummetting to 330 and lower!
  • #328,613
  • Nov 18, 2010 12:02pm Nov 18, 2010 12:02pm
Quoting cloggie
Only minor, and if it gives we are looking at 3672, if it holds we jump back to the earlier trigger of 3611.
Sorted.

Wanderer, you were 9 pips out.
  • #328,614
  • Nov 18, 2010 12:03pm Nov 18, 2010 12:03pm
Quoting Decimal
Hi chaps,

I am posting this as a call for help I guess and would be very grateful to receive any direction/proposals for those senior contributors who are willing/prepared to assist me.

My general personal history, is that I am English, 40, married, kids, live in Spain and want to earn my living trading forex. I started this journey in February this year and foolishly deposited £250,000 in a Oanda account and made a few stupid mistakes like trading cable into news announcements at £1K a pip. As found very quickly spreads widen and direction...
WARNING: You are about to get a rush of 10v members PM you about managing your money.

You deposited $250K in Oanda? Why didn't you open an account with a bank and get a free Reuters terminal and institutional spreads which are 0-0.5/pips?

Let me guess, when you made the $10M trade you bought the entire $10M worth at one handle instead of distributing the trade out to multiple prices.

When you trade with any retail broker you are essentially on a demo account, the only difference is that the broker is liable for any profits, it is still a closed-loop game. In reality no one will buy $10M in one handle. I am sure when you executed the trade, oanda decided to put it on hold and then started buying it as it was going lower and lower. essentially front-running your trade.

With that much initial deposit you are better off trading futures.
  • #328,615
  • Nov 18, 2010 12:05pm Nov 18, 2010 12:05pm
Quoting akhtergroup
WARNING: You are about to get a rush of 10v members PM you about managing your money.

That's is probably not far from the truth.
  • #328,616
  • Nov 18, 2010 12:07pm Nov 18, 2010 12:07pm
Quoting cloggie
And when was the last time we saw a 400 pip day? Just a bit of cannon fodder really. I do like these little nuggets from signal providers, make the options large enough and you are never wrong.
LOL yes. I hate their analysis. So meaningless and wrong. What does that tell u??? ABSOLUTELY NOTHING!!!!

Their options are so large and never get filled. Its so stupid and meaningless.

F..k them. I do my own analysis and post it here. For free!
  • #328,617
  • Nov 18, 2010 12:08pm Nov 18, 2010 12:08pm
Quoting Pipwanderer
h1 has huge reversal candle...something is suspicious..hmm
I think that was just closing some positions and reload.
That hour is way too obvious if you look at the pattern of decline.

Smells like kind of bear trap.
They think they are smarter than I am.
  • #328,618
  • Nov 18, 2010 12:09pm Nov 18, 2010 12:09pm
Quoting Decimal
Hi chaps,

I am posting this as a call for help I guess and would be very grateful to receive any direction/proposals for those senior contributors who are willing/prepared to assist me.

My general personal history, is that I am English, 40, married, kids, live in Spain and want to earn my living trading forex. I started this journey in February this year and foolishly deposited £250,000 in a Oanda account and made a few stupid mistakes like trading cable into news announcements at £1K a pip. As found very quickly spreads widen and...

immediately STOP trading real capital....you have no clue what your doing....hire a proven coach.

1.go to a demo

2.trade it for 6 months

3.when you can be consistently profitable for a 6 month period, then deposit 20k, then leave this forum and never come back again( you will see why, its your benefit)...leave oanda and go to a bank for a real trading account....

4. when you can be consistently profitable for another 6 months add 40k

5. when you can be consistently profitable for another 6 mo, add full amount....

have a separate bank account where you net 50% of all gains form the account. Reinvest the other 50%....enjoy!
  • #328,619
  • Nov 18, 2010 12:11pm Nov 18, 2010 12:11pm
Quoting mfoste1
immediately STOP trading real capital....you have no clue what your doing....hire a proven coach.

1.go to a demo

2.trade it for 6 months

3.when you can be consistently profitable for a 6 month period, then deposit 20k, then leave this forum and never come back again( you will see why, its your benefit)...leave oanda and go to a bank for a real trading account....

4. when you can be consistently profitable for another 6 months add 40k

5. when you can be consistently profitable for another 6 mo, add full amount....

have a separate bank account...

Oh and Decimal ignore each and every offer for "mentoring" services or training, no trader in the world that is truly worth learning from will offer to help you out.

You are now a public cash cow, and loads of people want a piece of you.
  • #328,620
  • Nov 18, 2010 12:11pm Nov 18, 2010 12:11pm
Quoting cloggie
Sorted.

Wanderer, you were 9 pips out.
i didnt jump in ...i have all the patience in the world...learning from some mistakes...still learning too
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