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  • #340,961
  • Dec 7, 2010 8:42am Dec 7, 2010 8:42am
Quoting goods
Seeing alot of volume with alot of upper wicks.
Yes it might be a big shark who want to push higher, while another one is selling into it.
The resistance is clearly 1,3410-20 so a squeeze there ? make your bet.
But this week is slow. Same kind of consolidation happened yesterday
COT: The precious data ignored
  • #340,962
  • Dec 7, 2010 8:42am Dec 7, 2010 8:42am
Quoting Driver55
without the intention to influence T@rantula ...
but if you are on the short term... take a look @9742 if we go there
Hey D, thanks for the update. I have just seen ur message.

The PA hit 9755, double bottomed. It went up by the time I got back. Unfortunately i wasnt anywhere near to scale out.

Ill keep the trade going, even if it means a small loss. If it get close to 9810 I will make a further analysis.

9735 still remains a target although scaling out is a valid option if we test 9754 again.
  • #340,963
  • Dec 7, 2010 8:44am Dec 7, 2010 8:44am
Today is EUR/USD somewhat wild :-/
  • #340,964
  • Dec 7, 2010 8:44am Dec 7, 2010 8:44am
Quoting kuroro001
Yes it might be a big shark who want to push higher, while another one is selling into it.
The resistance is clearly 1,3410-20 so a squeeze there ? make your bet.
But this week is slow. Same kind of consolidation happened yesterday

I like the charts you post by the way, was looking at some attachments on your profile. I try to keep just as simple as that. Anything else blurres my vision.

oh by the way that big buyer, from last week lets see what he does this week.
Know when to hold em, Know when to fold em!
  • #340,965
  • Dec 7, 2010 8:46am Dec 7, 2010 8:46am
See chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU update.gif Size: 25 KB
  • #340,966
  • Dec 7, 2010 8:47am Dec 7, 2010 8:47am
To much range.
  • #340,967
  • Dec 7, 2010 8:47am Dec 7, 2010 8:47am
I think it's that time of the year where you can throw your charts in the garbage.
  • #340,968
  • Dec 7, 2010 8:48am Dec 7, 2010 8:48am
just closed my two long trades with around 60pips profit... going to wait for a short set up from now on.
  • #340,969
  • Dec 7, 2010 8:49am Dec 7, 2010 8:49am
Suddenly in December, none of my trading systems are working. No matter which way I trade, the pair moves against me. Is there something about December that I should be aware of?
  • #340,970
  • Dec 7, 2010 8:50am Dec 7, 2010 8:50am
Quoting goods
I like the charts you post by the way, was looking at some attachments on your profile. I try to keep just as simple as that. Anything else blurres my vision.

oh by the way that big buyer, from last week lets see what he does this week.
yes indeed, support resistance and price is what every trader needs
Tarantula and wormboy are fans of PA and good at it.
The more simple it is, the easiest it is.
I keep seeing at chart with load of indis or fancy stuff...its funny, but as long as they make profit

1,3400 seems to be hard to be broken...NY is sleeping again
COT: The precious data ignored
  • #340,971
  • Dec 7, 2010 8:52am Dec 7, 2010 8:52am
Quoting kuroro001
Thanks mate, i really don't look at divergence.
Lets hope it will go above 1,3400 before the divergence plays out.
Anyway its always a good idea to take some profit now
Thanks for the heads up.
Hope you have a profitable day !
All yours kuroro since yesterday. Very well played, especially as you were playing H1. Definitively a lesson on how to sit on a trade. Respect.

I agree that any reversal signal for daily play will be better above 1.340x.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #340,972
  • Dec 7, 2010 8:53am Dec 7, 2010 8:53am
Quoting 2+2=4ex
I think it's that time of the year where you can throw your charts in the garbage.
Quoted for truth
  • #340,973
  • Dec 7, 2010 8:53am Dec 7, 2010 8:53am
Quoting RFMagus1
Suddenly in December, none of my trading systems are working. No matter which way I trade, the pair moves against me. Is there something about December that I should be aware of?

End of Year Closing of Books. Typically, in December of each year, institutional trading houses close out their books for the year to log profit. This can generate extreme volatility in the currency market. If the USD has put in a good year for example, this is the time of year when it will be sold down hard regardless of fundamentals. Potentially very lucrative trading opportunities.

http://news.forexdistrict.com/2009/c...es-for-profit/
  • #340,974
  • Dec 7, 2010 8:53am Dec 7, 2010 8:53am
You know I look at these charts that look like a Pasta Jambalaya and I can't figure out how people actually trade off those - not to pick on anyone but it shows where in their trading career they are. I also had best success sticking to simple PA techniques. But hey; whatever makes people money is good for them - even if it's voodoo.


Quoting kuroro001
yes indeed, support resistance and price is what every trader needs
Tarantula and wormboy are fans of PA and good at it.
The more simple it is, the easiest it is.
I keep seeing at chart with load of indis or fancy stuff...its funny, but as long as they make profit

1,3400 seems to be hard to be broken...NY is sleeping again
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #340,975
  • Dec 7, 2010 8:54am Dec 7, 2010 8:54am
Still trying to undersatand but the big order at 3404 got took off put back on at 3409 now its off again.
And fairly big buy at 3266 now
making green pips large and red pips small this is my goal.
  • #340,976
  • Dec 7, 2010 8:54am Dec 7, 2010 8:54am
Look at those upper wicks against 1.3390. Down we go...again..????
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 27 KB
  • #340,977
  • Dec 7, 2010 8:55am Dec 7, 2010 8:55am
Quoting PipChick
The h1 looks tricky a lot but if you drop to the m5 you can see the moves more clearly which will help with the entries.
yes, i did the opposite of what you did yesterday. 4 shorts, with a 3:1 win-ratio. i have opened a smaller one at 3400 for the sake of it.

those short pips are more to keep me happy atm, my bias will turn if 3440 get broken with confirmation.
  • #340,978
  • Dec 7, 2010 8:56am Dec 7, 2010 8:56am
Quoting Mr Hatch
yes, i did the opposite of what you did yesterday. 4 shorts, with a 3:1 win-ratio. i have opened a smaller one at 3400 for the sake of it.

those short pips are more to keep me happy atm, my bias will turn if 3440 get broken with confirmation.
The range is pretty boring.I will call it a day for a while.
  • #340,979
  • Dec 7, 2010 8:57am Dec 7, 2010 8:57am
I scalp with range bars and suddenly today, I'm getting a shit load of false signals with my EMA crossovers. Down 6% on the day
  • #340,980
  • Dec 7, 2010 8:57am Dec 7, 2010 8:57am
Quoting kuroro001
yes indeed, support resistance and price is what every trader needs
Tarantula and wormboy are fans of PA and good at it.
The more simple it is, the easiest it is.
I keep seeing at chart with load of indis or fancy stuff...its funny, but as long as they make profit

1,3400 seems to be hard to be broken...NY is sleeping again

Yep I like to call it the supply/demand, it reminds me that there are other orders along with mine and others are on the same side as me, and it also helps me realize to think as supply to be selling and demand to be buying.

Support/Resistance I just picture something like a fence, like its just price that is trying to move forward or backwards instead of thinking of it as oh here is where sellers are or here is where buyers are.

And yes I use their posts for confluence as well. Maybe they post something I don't catch. and when they do I can compare analysis.
Know when to hold em, Know when to fold em!
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