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  • #338,761
  • Dec 3, 2010 9:00am Dec 3, 2010 9:00am
Quoting cloggie
That's not a break, that's a test and a fake.

Chef, how do you know when is a fake and not a break? Of course before it happened .
  • #338,762
  • Dec 3, 2010 9:00am Dec 3, 2010 9:00am
Quoting paul1
please expand i'am sat on edge of seat .
Tuesday morning at 10am Tokyo time. Daily candlestick. Place straddle orders 15 pips above candlestick and 15 pips below candlestick. SL 20 pips, TP 40pips. Try it on Tuesday and PM me if you make it.
  • #338,763
  • Dec 3, 2010 9:01am Dec 3, 2010 9:01am
No new hourly low during this hour and usdx may have find a bottom for today.
Compressed bar with extremely high vol...buyers are lurking around here.
Wait and see
COT: The precious data ignored
  • #338,764
  • Dec 3, 2010 9:03am Dec 3, 2010 9:03am
pa right on 200 ema decision point. a close above the 200 ema (yellow line) waiting for the daily close to see how things look. otherwise we will see this pair drop like its hot
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd daily.gif Size: 19 KB
  • #338,765
  • Dec 3, 2010 9:03am Dec 3, 2010 9:03am
posted this a couple days ago, this is exactly where price stalled today. Perhaps party over. I will not gamble buying this high or selling right now, I will let eu tell me if this is the case then make my decision later, I sure as hell woudl not hold any trades over the weekend unless you want to gamble like a slot machine.

All the news and media marked this move perfectly, now risk should go back into eu downside...

There will be alot of pips to be made if this is the way it will play out, no reason to wait for confirmation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
Click to Enlarge Name: eu_daily.gif Size: 27 KB
Know when to hold em, Know when to fold em!
  • #338,766
  • Dec 3, 2010 9:04am Dec 3, 2010 9:04am
Still favor shorts on top off this range... we could go trough it like yesterday(max. 65 pips, but very unlikely)...
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (30 Min) 3-12-2010.jpg Size: 132 KB
  • #338,767
  • Dec 3, 2010 9:05am Dec 3, 2010 9:05am
Bearish Gartley on 15 min
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd butterfly 15min.gif Size: 27 KB
  • #338,768
  • Dec 3, 2010 9:09am Dec 3, 2010 9:09am
Quoting Fazpips
Tuesday morning at 10am Tokyo time. Daily candlestick. Place straddle orders 15 pips above candlestick and 15 pips below candlestick. SL 20 pips, TP 40pips. Try it on Tuesday and PM me if you make it.
I have read about this second day of week strategy .I cant remember were though.
Could you point me in the direction so I may read it again.
I would like to know why and how it works.
making green pips large and red pips small this is my goal.
  • #338,769
  • Dec 3, 2010 9:09am Dec 3, 2010 9:09am
I went short at 1.3320 after closing my long winning position 60pips... it will soon hit my SL that will break it even for me... after all that??!!!! grrr... it better start coming down...
  • #338,770
  • Dec 3, 2010 9:11am Dec 3, 2010 9:11am
Quoting grashid
http://www.forexfactory.com/showpost...stcount=336984

I will observe as per mentioned Phase 1 area: 1.32-1.33,
then Phase 2 at 1.35-1.36.

This week close above 1.3350 and next week close above 1.3450....may have tendency for a medium term reversal to bullshit move....
Then perhaps to visit back to at least 1.4080 area is there....for my food to min 1.27-1.26 area...later

Here is the same chart as posted b4 and I believe NFP would drive it even higher and broke this Phase 1 Resistance for testing to Phase...
I like grashidīs mid therm view, i also see a recovery to 35/36 due to more ecb bond buying and a potential yearsend gold and stockmarket rally (even nfp was that bad) , before the real mess begins in 2011 with other PIIGS. I donīt think it will end with Portugal and Spain. What about the eastern countries, if i remember correctly Hungary was close to a national bankruptcy a few years back (correct me if iīm wrong iīm not sure),
and what about Esti, Latvia, Lietuva, Slovenia and so on...
Gator or cloggie, do you have an opnion about the east europe countries?
I think we can see the lows of 2010 again in 2011, but as a daytrader i take it day by day. Happy trading to all.
  • #338,771
  • Dec 3, 2010 9:11am Dec 3, 2010 9:11am
Quoting EuroTrader
Chef, how do you know when is a fake and not a break? Of course before it happened .
I would like to see you leak some info about this as well LOL.

I thought it would be retest of new level of support but so you know fast it is fake.
Good day, I'm okay. Bad day, I'm okay. What's the difference?
  • #338,772
  • Dec 3, 2010 9:11am Dec 3, 2010 9:11am
Four hour chanell breached should be running out of steam soon
Attached Image (click to enlarge)
Click to Enlarge Name: eu sell.gif Size: 21 KB
  • #338,773
  • Dec 3, 2010 9:12am Dec 3, 2010 9:12am
Quoting kuroro001
No new hourly low during this hour and usdx may have find a bottom for today.
Compressed bar with extremely high vol...buyers are lurking around here.
Wait and see

I have the faint feeling Buyer are lurking!

This is the line in the sand --- and has been fantastic fun but in the spirit of looking back I hear the Budweiser song -- distant background -- here comes the king $
  • #338,774
  • Dec 3, 2010 9:12am Dec 3, 2010 9:12am
Quoting Fazpips
Tuesday morning at 10am Tokyo time. Daily candlestick. Place straddle orders 15 pips above candlestick and 15 pips below candlestick. SL 20 pips, TP 40pips. Try it on Tuesday and PM me if you make it.
40 pips>? for all that stress. i make 40 pips on a daily basis what is so special? please break it down???
  • #338,775
  • Dec 3, 2010 9:15am Dec 3, 2010 9:15am

Inserted Video
  • #338,776
  • Dec 3, 2010 9:19am Dec 3, 2010 9:19am
Quoting aiyoyo
I would like to see you leak some info about this as well LOL.

I thought it would be retest of new level of support but so you know fast it is fake.

I have spend lots of time studying ranges and tops/bottoms, there is no short answer, you need to dedicate serious time to reading the price. I am usually pretty spot on calling tops and ranges early, I do get it wrong at times, yesterday was case in point when Weber opened his gob and the fundies overruled the techs. Technically it is not that hard to call the tests and fakes, just study previous ranges and see how price forms in patterns and interacts with levels.

I gave a play by play earlier in the morning calling the top when plenty here were buying it, go back over my posts and see how my intermediate levels correspond to the price on lower TF's

Right now we have a rising support forming on the lower TF's at 3320-3328

Noobie traders underestimate the importance of identifying ranges early, the market spend most of its time in a range and your focus should be on how, where, when and why they form, the trend is easy, they are the part that join up the ranges.

I never spend much time on looking at the "trend", I just look at the ranges and trade the succesful breaks, that takes care of the trend. I never worry about targets either, I just look for the next range and when I find it the top of it is my TP.

On the same token, I rarely worry about stops either as the break of the range assures me that we are on the way to the next one, the only time I use stops is when there are fundies in play or when the next range is not obvious in which case I use a TS and let price take me wherever she does.
  • #338,777
  • Dec 3, 2010 9:21am Dec 3, 2010 9:21am
Looking forward for this next week onward:-
http://www.forexfactory.com/showpost...&postcount=585

See you all again next week
  • #338,778
  • Dec 3, 2010 9:21am Dec 3, 2010 9:21am
I'am currently applying the contrarian approach to dieting.
Like traders most dieters fail.


My body mass index (BMI) is too high.
I hate excersize.
I love fatty food.
I have taken up stretching exersizes .
If i can grow 18 inches i will be perfect height for my weight.
making green pips large and red pips small this is my goal.
  • #338,779
  • Dec 3, 2010 9:22am Dec 3, 2010 9:22am
Quoting johnnyrei
who's shorting? Guys - don't be silly. Wait for Tuesday's correction, please! It's for your own good.
i did, but have a very valid point there.
  • #338,780
  • Dec 3, 2010 9:22am Dec 3, 2010 9:22am
Quoting goods
Yea this will be a new mental barrier for me to get past keeping my account positive but I know i can do it....
Thanks man. This is inspiring for new people like myself. Looking forward to follow some of the tips, to write it down, read it every day - stick to the plan.

PB
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