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  • #383,721
  • Feb 10, 2011 6:45am Feb 10, 2011 6:45am
Quoting cloggie
Yup and right now the only setups available are scalps to the top side. The 30 needs to do its thang for a longer trade. Not picking bottoms or anything, just stating the bloomin obvious.

No change in plan yet.
  • #383,722
  • Feb 10, 2011 6:49am Feb 10, 2011 6:49am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting apt
1.3605/10 wasn't challenged, should have gotten out at 1.3613 with touch of descending M15 trendline.

Oh well, +12 pips.

Long @ 1.3633, TP 1.3670/90.
From Long @ 1.3633.

Changing target to 1.3668. Simply because it looks like it's going to touch this area before the hour, and the ascending TL will be lower rather than higher.
  • #383,723
  • Feb 10, 2011 6:49am Feb 10, 2011 6:49am
Quoting Vladimir1987
I have a pivot indi that shows high low of session, must correct now its 115 pips from high to low.

I looked at those atr but didnt help me cause i look at daily range in pips.

Usually we make 115 per day sometimes more sometimes less, its easier for me to not get caught..

OK, I just did not understand where you got the number from. In my opinion 115 is kinda low. In any event good luck, PTL
Look Sharp/Trade Tight
  • #383,724
  • Feb 10, 2011 6:49am Feb 10, 2011 6:49am
Quoting PayTheLimit
OK, I just did not understand where you got the number from. In my opinion 115 is kinda low. In any event good luck, PTL

Last 3 day average is 122
  • #383,725
  • Feb 10, 2011 6:50am Feb 10, 2011 6:50am
Quoting FibbinArchie
Where you getting 02 from?
below is the image.. i have bear view since morning.. i mistakenly take a long and got the loss.. i still prefer to shorting it today till it gave me an hourly close above 3679.. expecting 3602 and 3572 next..
Attached Image
  • #383,726
  • Feb 10, 2011 6:51am Feb 10, 2011 6:51am
The FE's are the long targets as long as price remains above 3610 with 3746 as final TP. Like cloggie said, its a scalping thing for now.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 30 a.gif Size: 15 KB
  • #383,727
  • Feb 10, 2011 6:52am Feb 10, 2011 6:52am
Quoting cloggie
No change in plan yet.
I still have lines on my chart from when you were calling levels last mid November! Still valid ... love it!
  • #383,728
  • Feb 10, 2011 6:52am Feb 10, 2011 6:52am
Quoting PipChick
The FE's are the long targets as long as price remains above 3610 with 3746 as final TP. Like cloggie said, its a scalping thing for now.

This is where most "newer" retailers lose their hard earned profits that took them all week to accumulate in a few hours. Recognising when it is time to scalp and forgetting about longer trades is a very valuable skill that most are lacking.
  • #383,729
  • Feb 10, 2011 6:52am Feb 10, 2011 6:52am
Quoting AllyB
I still have lines on my chart from when you were calling levels last mid November! Still valid ... love it!

Mine have been there for years and never change.
  • #383,730
  • Feb 10, 2011 6:54am Feb 10, 2011 6:54am
Quoting cloggie
This is where most "newer" retailers lose their hard earned profits that took them all week to accumulate in a few hours. Recognising when it is time to scalp and forgetting about longer trades is a very valuable skill that most are lacking.
Right and we are just sitting on the edge as price can teeter either way at the current moment. Pending news may create a fake break also.
  • #383,731
  • Feb 10, 2011 6:54am Feb 10, 2011 6:54am
Quoting cloggie
Last 3 day average is 122
25 day is around 145..
Look Sharp/Trade Tight
  • #383,732
  • Feb 10, 2011 6:55am Feb 10, 2011 6:55am
Quoting paythelimit
25 day is around 145..

3 - 122.7
5 - 144.0
10- 141.0
20- 150.9
  • #383,733
  • Feb 10, 2011 6:56am Feb 10, 2011 6:56am
Quoting PipChick
Right and we are just sitting on the edge as price can teeter either way at the current moment. Pending news may create a fake break also.

That's it. And it is the only reason I am posting here, nothing worth trading, time to spend time doing s'mthing else.
  • #383,734
  • Feb 10, 2011 6:56am Feb 10, 2011 6:56am
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  • #383,735
  • Feb 10, 2011 6:57am Feb 10, 2011 6:57am
Quoting cloggie
3 - 122.7
5 - 144.0
10- 141.0
20- 150.9
I'm an old options guy too, used to always looking at 1 month vol, old habit...
Look Sharp/Trade Tight
  • #383,736
  • Feb 10, 2011 6:58am Feb 10, 2011 6:58am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting Shah22
below is the image.. i have bear view since morning.. i mistakenly take a long and got the loss.. i still prefer to shorting it today till it gave me an hourly close above 3679.. expecting 3602 and 3572 next..
I love Fibonacci methods to trading, but unfortunately Fibonacci Arcs aren't exactly what I would call accurate.
  • #383,737
  • Feb 10, 2011 6:58am Feb 10, 2011 6:58am
Quoting cloggie
That's it. And it is the only reason I am posting here, nothing worth trading, time to spend time doing s'mthing else.
Yep, wait for news to give the go ahead.
  • #383,738
  • Feb 10, 2011 6:58am Feb 10, 2011 6:58am
Quoting apt
I didn't either until recently.

I clear 50% at the first TP, and then await to see a small bounce and continue in my biased direction, at which point I add the 50% to it again, and get more pips out of it.

Or it hits my first TP, and retraces from there, at which point I make a Manual close, and lose a lesser amount of equity.
So...

Scenario TP1 : 50% system winners 1:2
20/40 SL/TP

Scenario TP2: 35% system winners 1:3
20/60

pullback then bounce % of winning
0.5*0.35=17.5% chance of taking off and putting on reaching TP2

based on 100 trades
TP1= 2000 pips

Adding on (assuming you get a 10 pip better entry with spread:525 - 2475= -1950

TP2= 800 pips

Leaves us with 850 pips - spread = 500 ish... = 5 pip per trade...

Off course these numbers arent yours but if you have more details I would be happy:=) always eager to learn more
  • #383,739
  • Feb 10, 2011 6:58am Feb 10, 2011 6:58am
I am seeing weaker equities and Dow futures are down. This pair just left the 61.8 fib confluence, weekly and hourly, behind.

There are going to be a lot of stops to hunt at 1.36 and 1.35...

I'm seriously considering closing all longs if/after this divergence plays out.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd110210w1.gif Size: 16 KB
Gone to a better place
  • #383,740
  • Feb 10, 2011 7:00am Feb 10, 2011 7:00am
Quoting FibbinArchie
http://www.youtube.com/watch?v=yHTanKQDDQo

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Every month or so I pick a subject to dissect and show the retailers that what they believe in is a myth, last few months it was the gap, this month it is volume.

I love the myth though and how so many retailers protect it and believe in it erroneously. Volume is no volume, VSA is just an estimate of liquidity based on pricechange, it is just a presentation of price, if you really break it down, it just shows you PA, it shows the change in ticks, not what those ticks represent or what size orders are behind those ticks.

Various "volume" indicators use different calculations, but they are all estimates of liquidity, not even true liquidity, and have no bearing on volumes.
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