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Price is everything

  • #9,801
  • Feb 22, 2011 3:45pm Feb 22, 2011 3:45pm
Quoting redsword11
if you switch to 30min, you will also see some compression and bull moving into compressed zone
http://i51.tinypic.com/351brb4.gif

Not sure if I see what you see.
  • #9,802
  • Feb 22, 2011 3:47pm Feb 22, 2011 3:47pm
bought cable @ 1.61420 for scalp



rising flag , this flag can go to 1.61777 area
  • #9,803
  • Feb 22, 2011 3:53pm Feb 22, 2011 3:53pm
Quoting tjfxtrader
http://i51.tinypic.com/351brb4.gif

Not sure if I see what you see.

Attached Image (click to enlarge)
Click to Enlarge Name: aud.jpg Size: 73 KB
  • #9,804
  • Feb 22, 2011 4:33pm Feb 22, 2011 4:33pm
Closed everything


aud, kiwi and cable



need to wait a bit - transition
  • #9,805
  • Feb 22, 2011 4:36pm Feb 22, 2011 4:36pm
http://i51.tinypic.com/2afy2js.gif

1.0000 or 0.9800, which comes next?
  • #9,806
  • Feb 22, 2011 5:06pm Feb 22, 2011 5:06pm
http://i52.tinypic.com/243rhuc.gif


Overreaction?
  • #9,807
  • Feb 22, 2011 5:15pm Feb 22, 2011 5:15pm
Quoting tjfxtrader


Overreaction?
Don't think its an overreaction, i mean i lsot quite a bit today... profit got reduced to 67 pips. But thats fine... was my mistake.

Christchurch is Newzealands second biggest city and accountable for 15% of the GDP according to the internet. So im just waiting for this to stabilize
  • #9,808
  • Feb 22, 2011 5:28pm Feb 22, 2011 5:28pm
Quoting Orbital
Don't think its an overreaction, i mean i lsot quite a bit today... profit got reduced to 67 pips. But thats fine... was my mistake.

Christchurch is Newzealands second biggest city and accountable for 15% of the GDP according to the internet. So im just waiting for this to stabilize
http://i52.tinypic.com/30ngdur.gif

Overreaction as in price may retrace 23% - 61% of that big candle's range.
  • #9,809
  • Feb 22, 2011 5:52pm Feb 22, 2011 5:52pm
Its more likely to completely retrace on good news about NZD or AUD. I dont think momentum for NZD has changed on the larger timeframes.

Interesstingly enough seeing that nzdusd and eurusd usually share a common direction correlation, todays move down and up on EU to me looks like the right shoulder is starting to complete, so a further move up is what i expect. it just surged 35 pips in 5 minutes if you check the charts.

So yeah... i dont know
  • #9,810
  • Feb 22, 2011 6:12pm Feb 22, 2011 6:12pm
bought S&P @ 1315.15 STOPS @ 1309.75 TG @ 1325.25
  • #9,811
  • Feb 22, 2011 6:36pm Feb 22, 2011 6:36pm
These are my trades and yes red i finally found a spot to enter gbpnzd short hoping for 300 pips on gbpnzd and for 200 pips on eurnzd (your comments and looking at chart based on kiwi inverse correlation inspired me)

EURUSD was a risky long, so was AUDUSD for that matter but kiwis momentum should hold. Really hoping for this to work out so i can just drink cocktails for the rest of the week

Attached Image (click to enlarge)
Click to Enlarge Name: trades.PNG Size: 15 KB


Will watch trades manually though, because dude.... some really fucked up PA ^^
  • #9,812
  • Feb 22, 2011 6:37pm Feb 22, 2011 6:37pm
Quoting anthoniex
How are they different? Even when the market is running, we still need to wait untill the bar/ candle closes to make a call otherwise we’re jumping the gun/ gambling. When the bar/candle closed that’s already the past, and we make our trading decision based on what happened in the past. It just takes a quicker thinking to do it.

Welcome and your contribution will be appreciated. Thanks.

ant-
What is the reason you need to wait until the bar/candle closes? Bars/candles are arbitrary. Trades happen in real time. My preference is to enter when price is moving and to exit when it stops.
  • #9,813
  • Feb 22, 2011 6:43pm Feb 22, 2011 6:43pm
Maybe a sell on the euro once we hit 3702.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 117 KB
  • #9,814
  • Feb 22, 2011 7:46pm Feb 22, 2011 7:46pm
Quoting Peirce
What is the reason you need to wait until the bar/candle closes? Bars/candles are arbitrary. Trades happen in real time. My preference is to enter when price is moving and to exit when it stops.
I think you are kind of missing the point or havent understood forex completely. Candles never really close, go on a tickchart or on a 10 second chart. Price is always moving, supply and demand and price equilibrium is constantly formed. Thus movement never actually stops. Price is determined by the positions of buyers/bid and sellers/ask. Equilibrium constantly changes but youre not understanding what candlesticks represent. Candlesticks are telling you a story of the relationship between buyers and sellers, where and how far the buyers pushed the price and the equilibrium. On larger timeframes and up to 15M they will show you very precisely (if you know what to look for) where buyers exceed sellers and vice versa. Please remember that these positions on larger timeframes (4hr is where they are the most visible) are usually closely guarded and defended by larger parties (banks, funds etc) due to several factors such as options, and by certain central banks due to key strategic positioning.

If you do not understand this concept, why it works, and why its so remarkable i think you are in the wrong thread, this is a priceaction/supplydemand thread and as you can see it is working very very well for some people.

If you prefer momentum trading which is a discipline in itself that is your right. I will be glad to explain this concept in further detail to you on skype if you wish so because i cant be assed right now when scalping and watching positions.

Wish you all the best.
  • #9,815
  • Feb 22, 2011 7:57pm Feb 22, 2011 7:57pm
Quoting Orbital
I think you are kind of missing the point or havent understood forex completely. Candles never really close, go on a tickchart or on a 10 second chart. Price is always moving, supply and demand and price equilibrium is constantly formed. Thus movement never actually stops. Price is determined by the positions of buyers/bid and sellers/ask. Equilibrium constantly changes but youre not understanding what candlesticks represent. Candlesticks are telling you a story of the relationship between buyers and sellers, where and how far the buyers pushed...
In actuality, we are saying the same thing.

Thanks for your offer.
  • #9,816
  • Feb 22, 2011 8:02pm Feb 22, 2011 8:02pm
Quoting Peirce
What is the reason you need to wait until the bar/candle closes? Bars/candles are arbitrary. Trades happen in real time. My preference is to enter when price is moving and to exit when it stops.
Yes, bars/candles are arbitrary. The reason why I wait for a bar close is just a strategy to get solid confirmation.
On a break-out I do enter before bar/ candle closes but I still analyzed past bar/ candle formation. If the other works for you, great!
  • #9,817
  • Feb 22, 2011 8:57pm Feb 22, 2011 8:57pm
EU
feeling bullish. target around 1.3785
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 38 KB
  • #9,818
  • Feb 23, 2011 1:08am Feb 23, 2011 1:08am
DXY at pivot area.
Attached Image (click to enlarge)
Click to Enlarge Name: USD.jpg Size: 66 KB
  • #9,819
  • Feb 23, 2011 2:45am Feb 23, 2011 2:45am
Quoting redsword11
bought S&P @ 1315.15 STOPS @ 1309.75 TG @ 1325.25

Attached Image (click to enlarge)
Click to Enlarge Name: sp.jpg Size: 56 KB




closed most, moved to BE


slow
  • #9,820
  • Feb 23, 2011 3:22am Feb 23, 2011 3:22am
Attached Image (click to enlarge)
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