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  • #363,341
  • Jan 12, 2011 12:47pm Jan 12, 2011 12:47pm
Quoting Venice
THANK YOU. Overbought and oversold are words that need to be removed from your trading dictionary NOW.

Unless, you like blowing accounts of course...

OK now it ALL makes sense,....thanxs for clearing that up !
  • #363,342
  • Jan 12, 2011 12:49pm Jan 12, 2011 12:49pm
Quoting Magix
whatz up chart plz

kidding
  • #363,343
  • Jan 12, 2011 12:53pm Jan 12, 2011 12:53pm
79.87 to watch on dixy
  • #363,344
  • Jan 12, 2011 12:54pm Jan 12, 2011 12:54pm
just took 76 pip loss,.....
  • #363,345
  • Jan 12, 2011 12:55pm Jan 12, 2011 12:55pm

HI friends

This was my secount trade in live and I got stop . I have a short trade at 1.30770 but market moves strongly and hit my stop . I want to know what was the reason of this strong move ?

There was a 38% fib , 2 pivot levels and overbought STO and because of these things , I put a sell order .

What is the reason ?
Please help me

Thanks
  • #363,346
  • Jan 12, 2011 12:55pm Jan 12, 2011 12:55pm
Quoting kill56
whatz up chart plz

kidding
Trendlines brought to you by Jackson Pollock...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #363,347
  • Jan 12, 2011 12:56pm Jan 12, 2011 12:56pm
USD/CHF falling like a stone, broke the 9675 support level
  • #363,348
  • Jan 12, 2011 12:57pm Jan 12, 2011 12:57pm
Quoting egkid
If this 1h close above 3015 i will wait 3141
Follow the Rhythm
I posted my view for next step and already in position,
Let's C
  • #363,349
  • Jan 12, 2011 1:01pm Jan 12, 2011 1:01pm
Quoting Venice
THANK YOU. Overbought and oversold are words that need to be removed from your trading dictionary NOW.

Unless, you like blowing accounts of course...
meaning is subjective,
best meaning i read about Oversold and Overbought zone means rapid flows of capital,
when bough is high and the price goes up really quick it attracts more sellers than usual,
reverse is also true.

if u are sure for many reasons where the trend is going and u want to jump in, overbought and oversold zones in like H1, H4, D1 time frames are usually the best entries for a trade.
  • #363,350
  • Jan 12, 2011 1:03pm Jan 12, 2011 1:03pm
Quoting acidguy
meaning is subjective,
best meaning i read about Oversold and Overbought zone means rapid flows of capital,
when bough is high and the price goes up really quick it attracts more sellers than usual,
reverse is also true.

if u are sure for so may reasons where trend is going, overbought and oversold zones in big time frames are usually the best entries for a trade.
Price reversal is the best entry for a trade.
  • #363,351
  • Jan 12, 2011 1:04pm Jan 12, 2011 1:04pm
Quoting primzvicious
ehm..
http://cdn.forexfactory.com/attachme...6&d=1294810751


target hit
Verily, in every difficulties there is relief
  • #363,352
  • Jan 12, 2011 1:04pm Jan 12, 2011 1:04pm
Close enough to my final target. All longs closed. Good luck to all still in trades.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #363,353
  • Jan 12, 2011 1:05pm Jan 12, 2011 1:05pm
Quoting Venice
Price reversal is the best entry for a trade.
amen. sometimes - to your account.
  • #363,354
  • Jan 12, 2011 1:07pm Jan 12, 2011 1:07pm
Quoting hno2005

HI friends

This was my secount trade in live and I got stop . I have a short trade at 1.30770 but market moves strongly and hit my stop . I want to know what was the reason of this strong move ?

There was a 38% fib , 2 pivot levels and overbought STO and because of these things , I put a sell order .

What is the reason ?
Please help me

Thanks
fib pivot levels indys & all that crap are mathematicaly provided .....sometimes they work sometimes they dont .......2 forces command every market: supply & demand ( suport & resistance on charts ) everything else is to be honest most of the times pure crap .Focus more on money menagment tecniques & way to spot good levels(s/r) rather then to beleve in stochastic & macd or rsi Ob or Os which can be very deceving.....market can be overbought for very long time ..vice versa for oversold.......put that mathematicaly things on side & u will have chaotic midle east bazzar where everyone wants to make money ^^...I hope this will help you.Best wishes in future trading
  • #363,355
  • Jan 12, 2011 1:07pm Jan 12, 2011 1:07pm
Quoting hno2005

HI friends

This was my secount trade in live and I got stop . I have a short trade at 1.30770 but market moves strongly and hit my stop . I want to know what was the reason of this strong move ?

There was a 38% fib , 2 pivot levels and overbought STO and because of these things , I put a sell order .

What is the reason ?
Please help me

Thanks
- The Euro's been bought/accumulated for days; the bottom's held. When there's minimal movement as there has been for days now, when she rips, she goes based on pent up demand. VSA showed accumulation days ago - all the lows were bought. VSA'ers have been pointing to it for days. While a minor component of VSA is looking at the stopping volume, in this case it was not difficult - I've marked the buying on the chart.
- Weakening USD - you can see this by having USDJPY, USDCHF up on your trading screens
- A "successful" Portuguese Bond auction; we've entered the space of pricing in Spain's expected success tomorrow - if that does happen, expect another rip up

And, when there is a trend underway, don't test it by putting real money on the table and going short with "it has to stop somewhere here" - it doesn't have to do anything. Wait for the pair to retest a recent high, or break a channel/trend line, and the chance of a short will have much greater success. Sounds like you got knocked out of the trade - sorry that happened. Chances are, it will revisit 1.3044 in the next 24 hours.
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  • #363,356
  • Jan 12, 2011 1:15pm Jan 12, 2011 1:15pm
Quoting desi99
USD/CHF falling like a stone, broke the 9675 support level
Desi99: The USD/CHF is off limits until after fridays meeting. Long story short, The Swiss national bank had intervened in the market some time back to try and stop the rapid appreciation of the franc, that attempt failed and they suffered huge losses.

Since then, they have turned the matter over to the Swiss government and on friday, a meeting has been called for almost everyone in the country to come tgether and form a think tank to come up with a way to slow the rapid appreciation of the franc.

A strong swiss hurts swiss exports. Europe is the Swiss largest buyer and if the swiss currency is strong it makes their products very expensive for EUROPE to purchase and that will hurt the swiss economy.

By now the world knows about the EU crisis - so the swiss is working feverishly to try and protect their export sector.

They do not have a problem with a strong swiss, its just the rapid pace at which it is happening.

Nothing much is expected to come from the meeting but we just have to wait and see.
  • #363,357
  • Jan 12, 2011 1:16pm Jan 12, 2011 1:16pm
I would not short other than momentum sells when weakness is detected.
Just did my scalp from highs.

EUR lags behind stocks though, "supposed" to come down a bit.
They think they are smarter than I am.
  • #363,358
  • Jan 12, 2011 1:16pm Jan 12, 2011 1:16pm
Quoting cloggie
Up 120 pips, not seeing anything out there right now that tells me to cover here.

Quoting cloggie
still holding onto my position trade and have added to it on that last dip averaging 2922 now .

Up 200 pips now, still not seeing anything to make me close the trade.

Keep following the muppets here, I will be laughing all the way to the bank. See y'all later I need a serious muppet break.
  • #363,359
  • Jan 12, 2011 1:19pm Jan 12, 2011 1:19pm
Quoting redsword11
Attachment

Attachment


l will not trade EU long or short


dx approaching level

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reaction @ intraday level
  • #363,360
  • Jan 12, 2011 1:19pm Jan 12, 2011 1:19pm
will any thoughts about the red sexy book just came out by br mowsitong
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