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  • #328,681
  • Nov 18, 2010 2:08pm Nov 18, 2010 2:08pm
Quoting cloggie
You got it. My bias for next week is still up.

Are you riding up front first class too?

BTW 5 min candle closed above this highest pullback channel.
Know when to hold em, Know when to fold em!
  • #328,682
  • Nov 18, 2010 2:10pm Nov 18, 2010 2:10pm
Quoting goods
Are you riding up front first class too?

I am a day trader, I take it as it comes, that allows me larger lots, smaller stops and larger r:r's. I hate leaving unnecessary money on the table. Plenty of 100 pip runners to be found on an intraday basis and a few 30-50 pippers on top of that with the occasional smaller trade and I am all set.
  • #328,683
  • Nov 18, 2010 2:11pm Nov 18, 2010 2:11pm
Quoting Pipmysterio
Just look at how the Euro had been trading lately. When a trend is in play it averages 2cent a day. 1.42 will come so quick that majority of traders will not catch it. After we move above 1.38 this baby will climb up really fast.
Alot of big major players are targeting this area if you can find and read the bank reports
Know when to hold em, Know when to fold em!
  • #328,684
  • Nov 18, 2010 2:11pm Nov 18, 2010 2:11pm
1.42 will no doubt happen but this bull run is just a pullback. we're going down to 300ish before the trend turns, then it'll hit 1.42. Bears to take control next week.
At least I think so anyway.
  • #328,685
  • Nov 18, 2010 2:12pm Nov 18, 2010 2:12pm
Quoting goods
Alot of big major players are targeting this area if you can find and read the bank reports

The big buns are shooting for 1.44, just a matter of finding the next top in the next few days and see how the buyers interact before I make a longer term prognosis. If a major top forms before 1.42 we are retracing back down again. We have a good bottom to work of from.
  • #328,686
  • Nov 18, 2010 2:14pm Nov 18, 2010 2:14pm
Inverse Head and Shoulders - M30

http://fxdd.autochartist.com/aclite/...60_550_2.0.png
  • #328,687
  • Nov 18, 2010 2:15pm Nov 18, 2010 2:15pm
Quoting cloggie
Add Cloggie to your iggy list.
Added Cloggie to my iggy list




Quoting cloggie
The big buns are shooting for 1.44, just a matter of finding the next top in the next few days and see how the buyers interact before I make a longer term prognosis. If a major top forms before 1.42 we are retracing back down again. We have a good bottom to work of from.
HAHA j/K about the iggy list.

Hey I welcome 1.44
Know when to hold em, Know when to fold em!
  • #328,688
  • Edited 2:33pm Nov 18, 2010 2:28pm | Edited 2:33pm
Hi to all,

I was thinking that I post my own technical analysis on EU. The trade was actually entered a little too late but I believe there is still enough air up.
Am a noob so don't put too much weight in it but I would appreciate feedback.

Am actually trading that postion right now. Wish me luck!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.gif Size: 30 KB
  • #328,689
  • Nov 18, 2010 2:33pm Nov 18, 2010 2:33pm
Quoting Guitarfx
1.42 will no doubt happen but this bull run is just a pullback. we're going down to 300ish before the trend turns, then it'll hit 1.42. Bears to take control next week.
At least I think so anyway.
LOL. Euro is bullish and has always been bullish since July 12th. Regardless of all the news that is coming out of Europe, the euro still remains bullish. Take the short-side and let see what happens by the end of November. Place ur bet.
Prices are never too high to begin buying or too low to begin selling.
  • #328,690
  • Nov 18, 2010 2:42pm Nov 18, 2010 2:42pm
Quoting Guitarfx
1.42 will no doubt happen but this bull run is just a pullback. we're going down to 300ish before the trend turns, then it'll hit 1.42. Bears to take control next week.
At least I think so anyway.

ALternate view. There is too much space in this V to be a pullback
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 45 KB
Know when to hold em, Know when to fold em!
  • #328,691
  • Nov 18, 2010 2:44pm Nov 18, 2010 2:44pm
Quoting Pipmysterio
LOL. Euro is bullish and has always been bullish since July 12th. Regardless of all the news that is coming out of Europe, the euro still remains bullish. Take the short-side and let see what happens by the end of November. Place ur bet.
Quite right but the bearish retrace is still in place. they are just giving bulls a quick go before further descent. Then longterm bullish trend will resume and with a vengenge. Expect to flirt with 1.5!!!
  • #328,692
  • Nov 18, 2010 2:47pm Nov 18, 2010 2:47pm
Quoting Pipmysterio
LOL. Euro is bullish and has always been bullish since July 12th. Regardless of all the news that is coming out of Europe, the euro still remains bullish. Take the short-side and let see what happens by the end of November. Place ur bet.
I'm not sure how it was always bulish. Have you looked at longer TF's?
  • #328,693
  • Nov 18, 2010 2:47pm Nov 18, 2010 2:47pm
Quoting Decimal
Well thanks guys for such a wide range of advise on what I should and shouldnt do. I was a little suspect about making a genuine post on this site.

The essence/intention of my request was:

"How do I safely make 20 pips a day using a simple model, that is easy enough for my 13 year old son to operate safely."

I now regret issuing the personal history aspect, as this seems to draw a conclusion of "I dont know what I am doing". Which is a little unfair I think, given the edited information I presented.

So I am doubtful that there is not...
What? Every single trade you take has risk associated with it. Their is no safe and sound, their is only an edge. An edge that makes you more right then wrong. If you do not have this edge, accompanied by a set strategy that you place and execute consistently every time, you are doing nothing but gambling, and you are apt to get it right 50% of the time.

Good luck.
  • #328,694
  • Nov 18, 2010 2:49pm Nov 18, 2010 2:49pm
Quoting cloggie
Been gone for an hour and as I thought nothing has changed, afternoon NY sessions after a day like this are usually so thin on volume that I wonder why I even bother.
after 2 pm the ny session is completely dead on volume...wonder why they refer to it was the second busiest session
  • #328,695
  • Nov 18, 2010 2:49pm Nov 18, 2010 2:49pm
Quoting Venice
What? Every single trade you take has risk associated with it. Their is no safe and sound Good luck.
Hey Venice hope you been well. Yes there are trades but risk can be defined in many ways, its the Control that people need to have that defines their nature of risk. Out of control = complete risk, proper Money management = controle (safer risk)

Know when to hold em, Know when to fold em!
  • #328,696
  • Nov 18, 2010 2:49pm Nov 18, 2010 2:49pm
Quoting cloggie
The big buns are shooting for 1.44, just a matter of finding the next top in the next few days and see how the buyers interact before I make a longer term prognosis. If a major top forms before 1.42 we are retracing back down again. We have a good bottom to work of from.
What evidence have you got about big buns shooting for 1.44.?
Can i ask what level do you see as a strong bottom to work off.?
I'am little confused would i be correct in believing you do not have a long term bias beyond the next 20 pips?
You give a lot of good advice,but one minute the muppets are long and couple hours later muppets are short.
If you are scalping that would explain.
making green pips large and red pips small this is my goal.
  • #328,697
  • Nov 18, 2010 2:52pm Nov 18, 2010 2:52pm
Quoting alex.fx
I'm not sure how it was always bulish. Have you looked at longer TF's?
Take a look at the monthly and weekly chart. It has been a bull since July 12th. At least according to my system.

Also take a look at the COT report since July 2010. I hope u know how to read it. U need to read it as a speculator not a hedger.

Caution;
I'm not a day trader so we might be on a different page.
I only come and take the money when I get a signal.
Prices are never too high to begin buying or too low to begin selling.
  • #328,698
  • Nov 18, 2010 2:54pm Nov 18, 2010 2:54pm
Quoting goods
Hey Venice hope you been well. Yes there are trades but risk can be defined in many ways, its the Control that people need to have that defines their nature of risk. Out of control = complete risk, proper Money management = controle (safer risk)


I agree. With every trade I make, I decide I want to risk x amount, and let's face it, it never really comes to that high of an amount because if I see price is moving against me, no point in holding on. Let it go at the next rally/selloff.

I also remove risk as trades move along, especially the longer term ones.

With each passing resistance/support level, a little more risk is pulled off the table since a reversal is eminent. Never gurenteed, but it will happen, whether now or later.

I have been well, hope the same for you <-- this is me today.
  • #328,699
  • Nov 18, 2010 2:56pm Nov 18, 2010 2:56pm
If you are looking at a chart and the chart is not telling you where price is going [ie. bull, bear] and it is not painfully obvious, you should not be placing bets. If you think it is more then that, you are dead wrong.

Some of us do like the wager now and then though, just don't confuse it with thinking you were right and you chose the right direction because that 50% chance fell in your favor.
  • #328,700
  • Nov 18, 2010 2:56pm Nov 18, 2010 2:56pm
Quoting paul1
What evidence have you got about big buns shooting for 1.44.?
Can i ask what level do you see as a strong bottom to work off.?
I'am little confused would i be correct in believing you do not have a long term bias beyond the next 20 pips?
You give a lot of good advice,but one minute the muppets are long and couple hours later muppets are short.
If you are scalping that would explain.

I don't scalp, I look for the 100 pip trades, some of which can lead to longer ones, I am not sure why you are confused about my long term view, purely speculative of course, it is 1.44. However there are 1,000's of tradeable pips between here and there.

My daily goal on fibre is to get more pips then the ADR is, I tend to shoot for 200-300 a day on fibre out of multiple trades in both directions. I don't scalp I trade the intraday SR levels that give me high probability trades. On a halfway decent day you can find a handful of 40-50 pip trades and 1 100 pip one. I am a full time intraday trader and mainly trade the Franky open till the mid afternoon NY session, then briefly look at the Midnight London roll and the SY/TY open for good limit orders overnight.

I trade other crosses at the same time, but tend not to discuss them here as this is the fibre thread, trade wise fibre generates about 40-60% of my daily profits.

As to the bottom, I have discussed 3450 plenty of times in the last week and the significance of it, we came of a solid top and now need to find another one, if a solid top gets formed before 1.42 then 1.44 is out of the question, so far we have not seen the top here, we have only had one test of 3670 so that is not significant, 3670 is not going to hold us from going higher.
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