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EURUSD

  • #368,781
  • Jan 20, 2011 6:30am Jan 20, 2011 6:30am
Quoting T@rantula
No problem...Buy support sell resistance and always wait for a retest.
except when price breaks through...

  • #368,782
  • Jan 20, 2011 6:31am Jan 20, 2011 6:31am
Let's see.
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  • #368,783
  • Jan 20, 2011 6:32am Jan 20, 2011 6:32am
Quoting FibbinArchie
shake outs occur all the time on all tfs...
my whole body shakes when i enter a trade!
  • #368,784
  • Edited 6:33am Jan 20, 2011 6:32am | Edited 6:33am
here it comess....

<iframe title="YouTube video player" class="youtube-player" type="text/html" width="480" height="390" src="http://www.youtube.com/embed/w8wIXXBOqxE" frameborder="0" allowFullScreen></iframe>

Inserted Video
  • #368,785
  • Jan 20, 2011 6:33am Jan 20, 2011 6:33am
dam it morgan stanley earnings give a push to dam eur strange
  • #368,786
  • Jan 20, 2011 6:34am Jan 20, 2011 6:34am
Quoting qwertymyfx
except when price breaks through...

When price breaks thru resistance its called a BREAKOUT. The breakout can be false-in that case the price will fall back and form a double hammer pattern.

If the breakout is confirmed we wait for BPC pattern. When resistance is broken to the upside it needs to be retested and ONLY then if it continues to rise we can say that a FORMER resistance has become a SUPPORT.
  • #368,787
  • Jan 20, 2011 6:35am Jan 20, 2011 6:35am
Quoting PhAnTi'
well no , he played 3500 lvl as support... he bought above ,not below

IMO good support is anywhere between 1.3400-1.3440 where it bounced from earlier and from where a buy would have a better chance of survival

Its all about probabilities, stops will always be triggered on weak trades


.
Mind over matter..I don't mind and you don't matter.
  • #368,788
  • Jan 20, 2011 6:37am Jan 20, 2011 6:37am
Quoting qwertymyfx
my whole body shakes when i enter a trade!
lol, but seriously why is that? if you're not joking... maybe you are not comfortable with the amount at risk, if so then you need to scale back on lot size...
  • #368,789
  • Jan 20, 2011 6:37am Jan 20, 2011 6:37am
Quoting Mr Hatch
*cough*
r u in?
Did you place your stop loss order? Why not?!? Story of my life...
  • #368,790
  • Jan 20, 2011 6:38am Jan 20, 2011 6:38am
Quoting coyoteuglyxxx
r u in?
3434
  • #368,791
  • Jan 20, 2011 6:38am Jan 20, 2011 6:38am
Quoting FibbinArchie
lol, but seriously why is that? if you're not joking... maybe you are not comfortable with the amount at risk, if so then you need to scale back on lot size...

%1 -2 not more
  • #368,792
  • Jan 20, 2011 6:39am Jan 20, 2011 6:39am
Quoting T@rantula
When price breaks thru resistance its called a BREAKOUT. The breakout can be false-in that case the price will fall back and form a double hammer pattern.

If the breakout is confirmed we wait for BPC pattern. When resistance is broken to the upside it needs to be retested and ONLY then if it continues to rise we can say that a FORMER resistance has become a SUPPORT.
a BPC pattern?
  • #368,793
  • Jan 20, 2011 6:39am Jan 20, 2011 6:39am
Quoting T@rantula
When price breaks thru resistance its called a BREAKOUT. The breakout can be false-in that case the price will fall back and form a double hammer pattern.

If the breakout is confirmed we wait for BPC pattern. When resistance is broken to the upside it needs to be retested and ONLY then if it continues to rise we can say that a FORMER resistance has become a SUPPORT.
Also buying/selling as close to sup/res as possible greatly reduces sl distance and therefore risk, your stop goes where your analysis is invalidated...
  • #368,794
  • Jan 20, 2011 6:39am Jan 20, 2011 6:39am
Quoting qwertymyfx
a BPC pattern?
Break, pull-back, continuation...
  • #368,795
  • Jan 20, 2011 6:40am Jan 20, 2011 6:40am
Quoting qwertymyfx
a BPC pattern?
breakout-pullback-continuation or simply a retest.
  • #368,796
  • Jan 20, 2011 6:40am Jan 20, 2011 6:40am
Quoting FibbinArchie
lol, but seriously why is that? if you're not joking... maybe you are not comfortable with the amount at risk, if so then you need to scale back on lot size...
lol, maybe i should set lots to zero, haha
  • #368,797
  • Jan 20, 2011 6:40am Jan 20, 2011 6:40am
Quoting PayTheLimit
an hourly close over 3510/16 would start a new leg up, thats the level I'm watching...
still....
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Look Sharp/Trade Tight
  • #368,798
  • Jan 20, 2011 6:40am Jan 20, 2011 6:40am
Free trades doing well I see and may retrace a little from this tops now or 3526,39,46 towards 3483 /69 before continue up .chart with indicator though crying hard still following this up , very unwillingly.
lets see . also short usdchf & long eurjpy just added few hr back to see ,though not doing them regularly , well also.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #368,799
  • Jan 20, 2011 6:41am Jan 20, 2011 6:41am
Quoting T@rantula
breakout-pullback-continuation or simply a retest.
cool
  • #368,800
  • Jan 20, 2011 6:41am Jan 20, 2011 6:41am
Quoting qwertymyfx
lol, maybe i should set lots to zero, haha
I take it that you were kidding, but it highlights a serious point to noobs and also to some old bones...
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