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EURUSD

  • #347,021
  • Dec 16, 2010 4:51am Dec 16, 2010 4:51am
Quoting suthmo
Yeah disregard that I'm tired Well I was looking at a 4 hour chart and thinking It was hourly. So now I'm thinking it might happen over two days. I'm very tired now I'm trying to work it out before I crash.
Oh man, I don't like trading when tired, sometimes I can end up making bad and emotional decisions
Trends, breakouts, price action.
  • #347,022
  • Dec 16, 2010 4:52am Dec 16, 2010 4:52am
Quoting Texaspips
unless good news comes out of the Europe ... then
I cannot imagine anythng good enough coming out of Europe to turn this around that much.

The only thing I can see would be if there were moderately good news from the US which would increase risk appetite and thus move the EU up. I do not really consider this likely since the US economy seems to be getting progressively worse despite the lame and misguided attempts to turn things around.
  • #347,023
  • Dec 16, 2010 4:56am Dec 16, 2010 4:56am
Quoting Texaspips
I do a 50% value hedge when I scalp against the trend.
could you explain what this means further, thanks in advance PTL
Look Sharp/Trade Tight
  • #347,024
  • Dec 16, 2010 4:57am Dec 16, 2010 4:57am
Quoting PayTheLimit
could you explain what this means further, thanks in advance PTL
I think that if he has 1 lot short then he open 0.5 lots longs to close it in short time.
I also do that.
  • #347,025
  • Dec 16, 2010 4:58am Dec 16, 2010 4:58am
lol, Spain bonds don't look like they are going according to plan.

Just speculating here, but I think this summit is going to be a joke, Portugal, Belgium, Spain, etc. are in line for the Guillotine!
In a world of Bulls & Bears ... I'm a Motha Fkn T-Rex
  • #347,026
  • Dec 16, 2010 4:59am Dec 16, 2010 4:59am
Quoting Texaspips
lol, Spain bonds don't look like they are going according to plan.

Just speculating here, but I think this summit is going to be a joke, Portugal, Belgium, Spain, etc. are in line for the Guillotine!
yu-huu. and I am short against my own country. Ashamed but rich!!
  • #347,027
  • Dec 16, 2010 5:00am Dec 16, 2010 5:00am
Quoting Texaspips
lol, Spain bonds don't look like they are going according to plan.

Just speculating here, but I think this summit is going to be a joke, Portugal, Belgium, Spain, etc. are in line for the Guillotine!
Let's not speculate that far yet Unless you can not let it get in the way of your trading too much

edit: although admittedly, i do so myself at times
Trends, breakouts, price action.
  • #347,028
  • Dec 16, 2010 5:00am Dec 16, 2010 5:00am
Quoting aizazk
wouldn't that be the bearish pennant?
Don't know much about those but it does look a lot like consolidation before another down attack.

And breaking out of its lower side sure does smell of bear continuation


risking 1.3285-1.33 to get 1.2980 is decent r:r imo


.
Mind over matter..I don't mind and you don't matter.
  • #347,029
  • Dec 16, 2010 5:00am Dec 16, 2010 5:00am
Quoting JuliusCeasar
Yap

support is being broken on the regular

Attachment
I am also short however please note that support has been broken for the wedge but not for the channel!
Attached Image
  • #347,030
  • Dec 16, 2010 5:01am Dec 16, 2010 5:01am
Does anyone here been around long enought to recall an old FF thread with funny user submitted pictures, done in the LOLCATs fashion?

Having trouble finding it again...
Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #347,031
  • Dec 16, 2010 5:02am Dec 16, 2010 5:02am
Attached Image (click to enlarge)
Click to Enlarge Name: dec 16 valid eu for long i.gif Size: 45 KB
if posible for long and the tp at 1.3500 .
bakare
  • #347,032
  • Dec 16, 2010 5:03am Dec 16, 2010 5:03am
Going to be more or less a straight drop from here to 3030 at 5pmGMT Then bounce back to 3190 area 8pm 9pm. Friday looks like it could take us to 2800.
Founder of Sutherland Wave Principle
  • #347,033
  • Dec 16, 2010 5:05am Dec 16, 2010 5:05am
Quoting suthmo
Going to be more or less a straight drop from here to 3030 at 5pmGMT Then bounce back to 3190 area 8pm 9pm. Friday looks like it could take us to 2800.
From your lips to god's ear.

Kaching, kaching....
  • #347,034
  • Dec 16, 2010 5:08am Dec 16, 2010 5:08am
Quoting PayTheLimit
could you explain what this means further, thanks in advance PTL
Sure, If it doesn't make sense just tell me and i will reply with an image.

In my first account, I will open a full lot with the flow of the trend.

In my 2cd account, at 50% of the value of my first account {1/2 lot} I will scalp both up & down.

In EUR/USD, if it was at 1.3500 then I will open a full lot with the down trend, lets say it reaches support at 1.3450 and starts to go north, I will open a 1/2 lot with my 2cd account to scalp up while hedged with a full lot on my main account with the down trend.

so while I have short from 1.3500, with a stop loss at around 1.3525 or whatever, I will be scalp the range below 1.3500 at 50% of the value of my first account.

Does that make sense?

the spread is 2x, but that isn't a big deal when playing highs & lows/ S&R correctly.
In a world of Bulls & Bears ... I'm a Motha Fkn T-Rex
  • #347,035
  • Dec 16, 2010 5:10am Dec 16, 2010 5:10am
Quoting JuliusCeasar
Don't know much about those but it does look a lot like consolidation before another down attack.

And breaking out of its lower side sure does smell of bear continuation


risking 1.3285-1.33 to get 1.2980 is decent r:r imo


.
random google search should help here: http://www.trending123.com/patterns/...h_pennant.html
Trends, breakouts, price action.
  • #347,036
  • Dec 16, 2010 5:11am Dec 16, 2010 5:11am
Hello frnds. I am from India, today i have bcom a member of this website. i find this forum very usefull, i m demo trading . some times i make money. but i lose money bcos of over trading. I hope all of u will help me in forex trading. Thank You very much.
  • #347,037
  • Dec 16, 2010 5:12am Dec 16, 2010 5:12am
Quoting suthmo
Going to be more or less a straight drop from here to 3030 at 5pmGMT Then bounce back to 3190 area 8pm 9pm. Friday looks like it could take us to 2800.
everything is possible in fx, but really don't see this happening.
1.32 levels are not selling opportunities imho and with all this bearishness here it probably will rise.....
Don't be a hero. Don't have an ego. Always question yourself
  • #347,038
  • Dec 16, 2010 5:12am Dec 16, 2010 5:12am
Quoting Martingale
yu-huu. and I am short against my own country. Ashamed but rich!!
you still have soccer ~
In a world of Bulls & Bears ... I'm a Motha Fkn T-Rex
  • #347,039
  • Dec 16, 2010 5:14am Dec 16, 2010 5:14am
Quoting USD-Bear
everything is possible in fx, but really don't see this happening.
1.32 levels are not selling opportunities imho and with all this bearishness here it probably will rise.....
As soon as the Euro Summit Attendees come out and say 'we are dumb', then it will drop. But if they don't say that, then I am waiting until the 1.3180-1.3150 area, after that, i think we will go down one leg at a time in increments of past strong support.
In a world of Bulls & Bears ... I'm a Motha Fkn T-Rex
  • #347,040
  • Dec 16, 2010 5:14am Dec 16, 2010 5:14am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
http://i56.tinypic.com/2mw8foi.png

Price has fallen below 1H EMA.

Going to bed, this is going down but not going to wait for it. TP @ 1.3100
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porto14