EURUSD

anyone noticed the usd/chf spike? news said it's caused by the rise in eur/chf, but check the timing of the two pairs' spike, eur/usd & usd/chf...

Hours are the same...

Your brokers dealing desk might be closed earlier though.

I really am trying to be helpful to you so you can have less stress and earn money. You will not take money out of my pocket if I teach you what to do. As someone else just said maybe 50 out of 35,000 have a real clue of what to do.

Then maybe of the 50, 25 have a style that does not suit you.

Why did I know that the HIGH for the day was probably the HIGH ?

I did not know however a high probability trade is one where you know why you are making the trade and you use Risk Management.

(1) I determined WITHOUT Charts that the Trend this week for EUR/USD was done. My mistake will be my LOSS.

(2) Other's have explained here about the London open so you now know that.

Let us say I was wrong and my entry at 1.3150 went against me then I would ride it to 25 PIPS higher and THEN if still convinced the HIGH would be 1.3200 I probably would short a second position.

My MAXIMUM STOP LOSS is 50 PIPS which I can do since I win 75% of all my trades. If I had shorted a second position at 1.3175 if it got over 1.3200 by 3:30 AM then I lose 50 PIPS times two.

I was WRONG. I lost. However I had determined the trend was down and I was right and took the profits.

I traded the TREND.

I posted earlier that I would not trade again unless it got over 1.3100 again.

WHY WHY WHY

If I did not know for almost for sure. Nothing is 100% sure I would just watch. Maybe watch until we reached 1.3150 again.

Did you notice the SPIKE UP at 11:00 AM on the DOT and more until NOON at least.

It was London booking their profits and closing their shorts and so the price went up on the buying. IT happens EVERY day the same way.

THERE you have an experience edge.

Learn these things and I never would have put $20,000 in without demo trading at least a year. However you did and now move on.

I WIN because I have NO FEAR or GREED and Ego is more or less under control.

Learn your business or get out. 90% lose for any of the reasons mentioned already.

Come back next year and trade wisely.

The best for you in 2011

this is why i don t trade this time of the year. any smart fund with a few millions can make a hit chasing s l

$ index channel

wtf are you talking about . ES has been in a 2 point range all day

plus if you really knew what you are talking about you would know the correlation es to eu has gone , non existent.

the spike was due to rumours of swiss bank intervening in chf , and you were lucky. an up move was evident yes... 30 pip 40 pip maybe but 70 in 5 min is pure luck

Can anyone say manipulation ...

I have just updated my EW count on my blog.

Not that I have a good idea, but maybe this spike is part of wave Z of a wxyxz move. See pic on my blog, which can be accessed through my signature.

This wxyxz move fills the trend channel very nicely. 3138 to 3153 are now targets.

Someone with another explanation?

Haa ...

RECAP TIME :

Longs entered at 1.3082 (during early Asian until European) for an immediate move towards 1.3135 - 1.3142 (minimum) at first ... cross of above 1.3152 - 1.3161 (intraday resistance zone) could lead us towards 1.3191 - 1.3227 then ...

Depends on upside potential tomorrow ... if we will see one more downside move attempts again ... 1.3055 - 1.3032 is level to keep in mind ...

As long as not crossed below 1.3055 - 1.3032 ... which is likely ... we should see further upside attempts ... and we did so ... as expected ...

And we closed it (völlig stressfrei via halbautomatic withebox autopilot Methode) at 1.31308 ....

Was gibt es da noch zu sagen ...

Ende Gelände


;-)

thanks

Stopped out -25 short from that spike, fading it from 1.31184. Up a bit and hoping it returns to the bottop of the previous range.

In the first page of the froum... FF
you should ask it from your broker.
-
hi again.
nice too meet you again all.

thanks malcolm obviously no one expected a 70 pip but sure a reversal according to my volume..

i have paid my dues enough...there are no muppets in here

you would be 2% up and still in your sell trade if you employed my strategy... i rode it up and down... pole pipping lol

dont use SL; its the way to screw town..

I had a SL placed, I thought at 1.3100, however shit happened and it did not take and I walked away to see a 50 pip running loss, i double shorted at 1.3126 and closed all at 1.3095.

fitch downgrade portugal again and someone knew it was going to happen.

LOL! I was short all night, watching sideways action. I finally closed my short at 1.3096 to lock in a smallish profit and get out in front of the US data release. I missed the drop to 1.305x by less than an hour. At least I got some sleep.


... anyone know the odds of another intervention?

i didn't get 70.. but i got 39,, cause of a hard target at 96. but it was only a 1/2 position.

ha ha ha