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EURUSD

  • #383,461
  • Feb 9, 2011 8:16pm Feb 9, 2011 8:16pm
EU: resistantline and channel
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  • #383,462
  • Feb 9, 2011 8:17pm Feb 9, 2011 8:17pm
Quoting FibbinArchie
Yeah I'd gathered that, fat lady ain't singing yet tho' that's three or four attempts at this level now, it may hold...
MACD not the best tool by no means for Asia but look at the M30 and M60(1H) It points Way down south. I keep hoping for those unexpected Asian Spikes. HAHA It is riding at minus 25-20 now. Praying support holds. Not sure if I want to stick around to see this one a winner. Just a smaller loser and sure not going to average my way down at this point. And to think as I was reading the poor guys post earlier on here how he lost a week's worth of trading and all the time I had a day under water and didn't even know it. Well, I am going to watch close over the next couple hours and see what happens. I may cut it and not lose sleep over it and just make my 25 PIPS back tomorrow. Many Green PIPS to you Fibbin Archie!
  • #383,463
  • Feb 9, 2011 8:19pm Feb 9, 2011 8:19pm
Quoting thorr
Thanks Magix,

I like your entry, might be a perfect one
But is it just short term trade ( 30-50 pips ) or r u looking for 100 or more ?
If so when are you moving sl ? after 50 , maybe 100 pips move in your favor?
I trade a bit longer time frames but i am curious about your style of managing the trade. I am counting on the third weekly doji candle or maybe more
I am more and more bullish on USD even agains AUD, we will see.
take care
I took profits on my AUDUSD this morning during NY/London Crossover...

Chart posted here.
http://www.forexfactory.com/showpost...postcount=1048

I am feeling a little USD bull as well, but even with the turn of things, took profit on a couple cable shorts this morning as well.

I am running a few positions on EU short right now, just because of the levels and my entries, yeah, and of course because of my bias.

I don't do a lot of longer term positions, most playing the quick n dirties, but I like the sets and with the Chinese New Year over, I think we are going to see an assumption of some trend, and feeling like it should be to bring a little more value to the USD...

Check out the weekly USD chart posted here...
http://www.forexfactory.com/showpost...postcount=1003

I think it might be telling the tale of a support for bottom UTL...

Perhaps just a reactionary line, but even that gotta be worth a few bones.

Stop by my thread for my chart sets, I post fairly regular on anything from the dailies down to the 1m/5m charts for possibilities.

Again, sorry for the delay in my reply, it's wing night...60 of those bad boys and a couple pints of beer to get ready for Frankie and London...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,464
  • Feb 9, 2011 8:20pm Feb 9, 2011 8:20pm
How's it going Piptaker...I'm in the same boat as you..except my was self inflicted,,... I think I'm going to let it go down to 1.3700 and an get out, then see how far it goes down before getting back in for a long ...



Quoting Piptaker
YEA THANKS!...
  • #383,465
  • Feb 9, 2011 8:20pm Feb 9, 2011 8:20pm
Quoting Piptaker
MACD not the best tool by no means for Asia but look at the M30 and M60(1H) It points Way down south....
Cheers PT, same to you...
  • #383,466
  • Feb 9, 2011 8:33pm Feb 9, 2011 8:33pm
5m Support Zone...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,467
  • Feb 9, 2011 8:35pm Feb 9, 2011 8:35pm
Longs in play, but for how long?

H4 stochs crossing south, topside resistance...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,468
  • Feb 9, 2011 8:45pm Feb 9, 2011 8:45pm
Quoting Magix
Longs in play, but for how long?

H4 stochs crossing south, topside resistance...
This is my point about stoch, go back two cycle peaks and look at the screaming mess at the 80 over bought line on your H4 chart...
  • #383,469
  • Feb 9, 2011 8:48pm Feb 9, 2011 8:48pm
Re the question on AUD data the bureau said the recent floods had played havoc with getting reliable data out of Queensland, I guess that's why the aussie got all confused.
  • #383,470
  • Feb 9, 2011 8:54pm Feb 9, 2011 8:54pm
Quoting FibbinArchie
This is my point about stoch, go back two cycle peaks and look at the screaming mess at the 80 over bought line on your H4 chart...
Yup.

As a sole indicator, not altogether the best choice.

Agreed!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,471
  • Feb 9, 2011 9:00pm Feb 9, 2011 9:00pm
Quoting Magix
Yup.

As a sole indicator, not altogether the best choice.

Agreed!
of course, that's not to say that it doesn't have it's uses...
  • #383,472
  • Feb 9, 2011 9:00pm Feb 9, 2011 9:00pm
It's long until it's short and it's not necessarily short. If you're out right now, it's best to be on the side lines until long or short is confirmed again. (this is a 4 hour perspective).
  • #383,473
  • Feb 9, 2011 9:04pm Feb 9, 2011 9:04pm
Looks like ABC up just entered long target 3790
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  • #383,474
  • Feb 9, 2011 9:07pm Feb 9, 2011 9:07pm
Quoting FibbinArchie
of course, that's not to say that it doesn't have it's uses...
If ya take some snapshots of charts now, a pile of different indicators and moving averages and check back in a week, see how much is the same and how much has changed...

We are in a fairly strong uptrend for EU...there is no question.

Todays open, higher then yesterday and we are green on the week...

Would I suggest that everybody hop on the short train? Cripes no...

I have a fairly specific play set, and this one happens to be playing outside of the criteria, but did happen to come at an opportune time...

I posted my topside targets this morning, when price hit, I took profit and reversed my standings...due to a bullish bias on USD.

I don't wanna lose on any trade, but that doesn't mean that I am not going to...

Given all the best sets and all the best patience in the world, you get a better chance at success, not 100%...

Win some, Lose some...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,475
  • Feb 9, 2011 9:08pm Feb 9, 2011 9:08pm
Quoting petehnm
How's it going Piptaker...I'm in the same boat as you..except my was self inflicted,,... I think I'm going to let it go down to 1.3700 and an get out, then see how far it goes down before getting back in for a long ...

It ran me back up to -16 Pips so I bailed and cut my looses at around -16. I will just try to make it up tomorrow. That was totally unexpected so now I have sold after 6 hours it will now go even higher for you. HAHA Happy trading and many PIPS to you! Good Luck With Your Trade.
  • #383,476
  • Feb 9, 2011 9:11pm Feb 9, 2011 9:11pm
Speaking of indicators this RSI/ATR combination indicator gave a buy signal on H1 at 3706, but didn't take it as I didn't like the way price had drifted into the level...
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  • #383,477
  • Feb 9, 2011 9:14pm Feb 9, 2011 9:14pm
Morning All,

In front of me market is in bear mode today.. 5m, 15m and 30m are indicate towards down but only 1h pointing it up towards 3756..but there are less chances to go there.. i prefer to short it today rather than to go long.. the resistance above is now heldon 3722, 3740 and 3756 while supports are at 3691, 3675 and 3655.. I just place a short at 3715 with sl 13 pips.. target 3680 first..
  • #383,478
  • Feb 9, 2011 9:18pm Feb 9, 2011 9:18pm
Quoting Magix
If ya take some snapshots of charts now, a pile of different indicators and moving averages and check back in a week, see how much is the same and how much has changed...

We are in a fairly strong uptrend for EU...there is no question.

Todays open, higher then yesterday and we are green on the week...

Would I suggest that everybody hop on the short train?...
and play your edge...

if that requires stoch to be in alignment then so be it...

However I would just say that I would disregard any signals against trend (not sure that there is a trend on H4 atm, looks to be consolidating somewhat).

And I will just say that purely from a personal perspective, I generally only ever look at stoch if I have a position under water and I am looking for reasons not to kill it...

My two cents...
  • #383,479
  • Feb 9, 2011 9:19pm Feb 9, 2011 9:19pm
Quoting FibbinArchie
Speaking of indicators this RSI/ATR combination indicator gave a buy signal on H1 at 3706, but didn't take it as I didn't like the way price had drifted into the level...
Can be an issue if you are a system trader and have doubts about the system...

Might just be a matter of gaining a little more confidence.

I don't hammer a button every time I see a trigger, I still cherry pick the hell out of my trades..

Call it a feel of sorts...again, not always right, but often enough to keep the wolves away from the door...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #383,480
  • Feb 9, 2011 9:20pm Feb 9, 2011 9:20pm
talking about indicators, anybody using DSS?
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