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  • #393,641
  • Feb 22, 2011 5:21pm Feb 22, 2011 5:21pm
7th profitable trade this week ive put on 8 trades 7/8 pretty good
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Ambition
  • #393,642
  • Feb 22, 2011 5:24pm Feb 22, 2011 5:24pm
Quoting talentfx
7th profitable trade this week ive put on 8 trades 7/8 pretty good
Golf Clap
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #393,643
  • Feb 22, 2011 5:26pm Feb 22, 2011 5:26pm
eurusd is currently moving inside a 216 pips wide ascending channel. last week suggested more upside. daily suggests more upside (current cap ~1.3757 = good short opp.)
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #393,644
  • Feb 22, 2011 5:26pm Feb 22, 2011 5:26pm
H8..
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  • #393,645
  • Feb 22, 2011 5:26pm Feb 22, 2011 5:26pm
If I had to throw a chip down right now, not sure I'd buy these little blue bars yet. With bid sizes like 15,069,818 (sic) and offers of 1, it doesn't look like either the Soros' or the Bank of China is behind it right now...
  • #393,646
  • Feb 22, 2011 5:27pm Feb 22, 2011 5:27pm
Quoting Magix
Golf Clap
If you have to worry about that, I think I'd change country clubs.
  • #393,647
  • Feb 22, 2011 5:29pm Feb 22, 2011 5:29pm
Quoting OldQuant
If I had to throw a chip down right now, not sure I'd buy these little blue bars yet. With bid sizes like 15,069,818 (sic) and offers of 1, it doesn't look like either the Soros' or the Bank of China is behind it right now...
15m Chart just zigged...yesterdays daily roll on deck, if we don't create get a new chart top, the 30 is engaged to sell off...

This is a terrible time to be trading...I closed my previous shorts and took a quickie to resistance...

Now...Ima wait...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #393,648
  • Feb 22, 2011 5:30pm Feb 22, 2011 5:30pm
6:30 (GMT - 7 ) Good morning.
  • #393,649
  • Feb 22, 2011 5:30pm Feb 22, 2011 5:30pm
i think it will have to go down first before it will go up for 1.4 thats only an opinion so pls dont get nasty and start swearing
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  • #393,650
  • Feb 22, 2011 5:30pm Feb 22, 2011 5:30pm
I'm long 3670 for the hell of it... already have SL has my buy point... want to see if it runs
  • #393,651
  • Feb 22, 2011 5:33pm Feb 22, 2011 5:33pm
leaving all technical analysis aside,it seems euro is somewhat range bound from the start of the year,there were plenty of opportunities for it to go 1.40,but amount of bears is drying all the supply,whenever it tries to come close to 1.40 .so in my opinion someone is just waiting for the green light to come,as for now Europe faces high unemployment,high petrol prices,hikes in mortgage rates and family's switching to the basic needs only,in other words any euro rally above1.40 gonna be just a corner stone for the rally down in months to come.Otherwise any recovery gonna be pushed even further away.
Just my thoughts for this quiet time of the night
  • #393,652
  • Feb 22, 2011 5:34pm Feb 22, 2011 5:34pm
Quoting Magix
15m Chart just zigged...yesterdays daily roll on deck, if we don't create get a new chart top, the 30 is engaged to sell off...

This is a terrible time to be trading...I closed my previous shorts and took a quickie to resistance...

Now...Ima wait...
And Ima lettle long. But the evening's guests have arrived, so I'm off to pretend I'm nice and interested.
  • #393,653
  • Feb 22, 2011 5:36pm Feb 22, 2011 5:36pm
Quoting nawafasad1
i think it will have to go down first before it will go up for 1.4 thats only an opinion so pls dont get nasty and start swearing
If Asian session, London session and NY session couldn't beat the chart top...why conceivably would it happen now?

I'm agreeing with the selling side...from there...I think we gotta wait n see...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #393,654
  • Feb 22, 2011 5:37pm Feb 22, 2011 5:37pm
Quoting infinitus
Hello Sandy,

very good, very good. Sometimes one need to be remembered on all these rules :-)

But: the rule states: "usually" EWP p. 88 :-)

And keep in mind: in Forex sometimes you see strange behavior which you can not see in trading stocks or indices.

But however: your variant is valid too and should be kept in mind.

Wave degree on my chart may be, at this point, one degree to high.


For wave code of my labeling see the legend of colors on my blog.



Do you only trade / EW analyse Forex or indices too?


Keep up the good work....
Hi Markus,

I do not trade other than the forex. I've only been live trading for about a month and demo trading for a month before that. I've been researching getting into forex for about 6 months. Needless to say I quickly burned my trading account down by 35% as of last week, making all the mistakes of a newbie - things I already knew - before putting the brakes on and exercising more discipline re: money management and patience. So as of today I've recovered the trading account back from 35% down to about 26% down.

EW is something I've been interested in on and off for 5 years or so but never really applied it. I'm still learning to analyse in real time.

I'm currently considering both EW and trend following for trade decisions - mainly EW. Have subscribed to a TF forex advisory (very cheap) and to EWI forex intraday (very expensive) so largely getting wave anaylsis from them. However, the counts that you and freelancer have been submitting to make for good alternatives alongside the EWI stuff.

I think EW might work better for me than TF since my time zone means that the main sessions are when I should be asleep.

I think the biggest trading lesson I've learned this week came from a video clip by Jim Martens - it is better to run tighter stop losses and reposition if stopped out than it is to run larger stop losses. That way, you don't get stuck in a losing trade for a long time, even if you're right, and you'll end up with better entry prices when the PA catches up with your analysis.

Currently long term USD bullish in line with EWI and Prechter.


Best regards


Sandy
  • #393,655
  • Feb 22, 2011 5:38pm Feb 22, 2011 5:38pm
Quoting OldQuant
And Ima lettle long. But the evening's guests have arrived, so I'm off to pretend I'm nice and interested.
lol..

It ain't gunna start moving with my help right now...I got about 3 more hours before I will get really excited about anything....

Take em where ya find em...

Ya can't go broke, taking profit.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #393,656
  • Feb 22, 2011 5:40pm Feb 22, 2011 5:40pm
Quoting Magix
If Asian session, London session and NY session couldn't beat the chart top...why conceivably would it happen now?

I'm agreeing with the selling side...from there...I think we gotta wait n see...
that was for malcolme call of 1.4 and iwas looking at daily tframe as there s a trend line in the way and res 1.3860 to overcome but on intraday im a seller to 1.36 where i m looking to buy to get to 1.3740
  • #393,657
  • Feb 22, 2011 5:42pm Feb 22, 2011 5:42pm
Quoting Sandy A.
Hi Markus,

I do not trade other than the forex. I've only been live trading for about a month and demo trading for a month before that. I've been researching getting into forex for about 6 months. Needless to say I quickly burned my trading account down by 35% as of last week, making all the mistakes of a newbie - things I already knew - before putting the brakes on and exercising more discipline re: money management and patience. So as of today I've recovered the trading account back from 35% down to about 26% down today.

EW is something...
definately a different game with real money on the line huh?stick with it it may take more than one account gl
Ambition
  • #393,658
  • Feb 22, 2011 5:44pm Feb 22, 2011 5:44pm
Quoting nawafasad1
that was for malcolme call of 1.4 and iwas looking at daily tframe as there s a trend line in the way and res 1.3860 to overcome but on intraday im a seller to 1.36 where i m looking to buy to get to 1.3740
I was agreeing with you on possible sales right now and am quite appreciative that you took time to post a chart with your analysis.

Keep doing what you are doing my friend...this place needs a lot more people like you!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #393,659
  • Feb 22, 2011 5:44pm Feb 22, 2011 5:44pm
Quoting talentfx
definately a different game with real money on the line huh?stick with it it may take more than one account gl
I'm not sure... is it the emotional tie to the money, or the fact that the market doesn't see a small man waiting to get destroyed on the books in a demo account...
  • #393,660
  • Feb 22, 2011 5:45pm Feb 22, 2011 5:45pm
Im sticking to my Thursday prediction. Looks like a usual beginning of the week for US market. And $VIX is above 20, plus Merkel is not gonna let Euro drop anywhere.
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