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  • #401,341
  • Mar 4, 2011 11:40am Mar 4, 2011 11:40am
Here is the current retracement (green highlight is the lvl we are looking to go long when we get a swing low) Red is where short was confirmed.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1 retrace.gif Size: 21 KB
  • #401,342
  • Mar 4, 2011 11:44am Mar 4, 2011 11:44am
Quoting PhAnTi'

Tja PhAnTi !

Da kannste gar nix anderes machen als warten. Ich gehe ab einer bestimmten Uhrzeit an einem Freitag keine neuen Engagements mehr ein.

That is fact since many many years as a matter of principle ... don't start fresh trades on a late FRIDAY ...

So my RESTRUNNERS will be cashed (in profit as nearly always) either if 1.3997 will be crossed again ... or with a timely limit order ... that means take profit at closing of 19:00 Uhr CET ...

My platform do allow many various types of such things ...

Das ganze Geschehen ist unter dem Begriff 'Seitwärtskonsolidierungs-Aktionen' abzuhaken ... und an einem Freitag lasse ich einen darauf ...

As we are not forced to do it ... bunte Chart-Grafik anbei ...



ding ding dong



;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-03-04_18h40_ EURUSD _ min030 _ (200) candle + PP + ST1.PNG Size: 33 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #401,343
  • Mar 4, 2011 11:44am Mar 4, 2011 11:44am
Quoting ForexTreeGuy
working out side means I'm away when whether is nice would welcome any suggested reading on the topic. Keeping us in the Lupe as you have really helps.

Like everything else when it comes to trading in general and FX especially, what is worth reading and studying is not published or publicly available. It is just a matter of opening a demo account and try out different strategies to see how it works out. Pay very close attention to the fundamentals as that is always what gives you the opportunity for the good position trades.

There is nothing you can beg, borrow or steal to make money in this business. It all needs to be self taught and researched.
  • #401,344
  • Mar 4, 2011 11:45am Mar 4, 2011 11:45am
Quoting fldash
Thank you sir. Been doing this since just before London close...

You got it, keep an eye out for the inevitable rally at the end and don't get caught on the wrong side of it.
  • #401,345
  • Mar 4, 2011 11:46am Mar 4, 2011 11:46am
Quoting cloggie

There is nothing you can beg, borrow or steal to make money in this business. It all needs to be self taught and researched.
Yeah, unless you are a CB, then you just take & use reserves & keep profits.
  • #401,346
  • Mar 4, 2011 11:48am Mar 4, 2011 11:48am
Quoting Texas.Rich
Yeah, unless you are a CB, then you just take & use reserves & keep profits.

CB's in general are not speculators and have different reasons and mandates to enter and exit the markets. But even they get it wrong more often then not. Spot is just too liquid for any one player to have the upperhand, that is what drew me to this in the first place. Keeping a close eye on the fundies will at least tell you what the intermediate/ longer term trend is and why. Look at the last 2 weeks, this has been a pure fundamental play and fairly easy to judge. Until we get a proper trigger and short is still a counter trend. We need an exhaustion of appetite and a change of fundamentals to change the trend, as is always the case in FX, Newton's first law of motion applies more often then you think and most retailers tend to ignore that. Always look for a reason to continue and not a reason for a reversal unless we have a change in landscape, techies on their own cannot change a trend, we need a collective change of bias and for that you need a fundie trigger.
  • #401,347
  • Mar 4, 2011 11:50am Mar 4, 2011 11:50am
Quoting samdani786
Its not a Gartley. Its a BUTTERFLY. I spotted it last year and shorting it since then . See attached.
I don't trade these type of patterns but aren't you supposed to wait for them to complete otherwise they are not valid? And also once they complete that is where to enter.
  • #401,348
  • Mar 4, 2011 11:50am Mar 4, 2011 11:50am
Quoting cloggie
CB's in general are not speculators and have different reasons and mandates to enter and exit the markets. But even they get it wrong more often then not. Spot is just too liquid for any one player to have the upperhand, that is what drew me to this in the first place. Keeping a close tap on the fundies will at least tell you what the intermediate/ longer term trend is and why.

Tell that to the RBA...
  • #401,349
  • Mar 4, 2011 11:51am Mar 4, 2011 11:51am
Quoting cloggie
CB's in general are not speculators and have different reasons and mandates to enter and exit the markets. But even they get it wrong more often then not. Spot is just too liquid for any one player to have the upperhand, that is what drew me to this in the first place. Keeping a close tap on the fundies will at least tell you what the intermediate/ longer term trend is and why.
Well as far as fundies, I personally think one of the problems for traders is that once a 'correlation' is set, they don't consider that the correlation can change over time, rather it be weeks or decades.

IMO the most important part of Fundies is to be 'up-to-date' and have some sort of data base, if a trader doesn't know any databases then they should just use basic excel datasheets.
  • #401,350
  • Mar 4, 2011 11:53am Mar 4, 2011 11:53am
Quoting cloggie
techies on their own cannot change a trend, we need a collective change of bias and for that you need a fundie trigger.
I really don't know about this, to tell you the truth, because techies are nothing more then the strongest collective position among all traders. So that is hard to say ...
  • #401,351
  • Mar 4, 2011 11:56am Mar 4, 2011 11:56am
Quoting Texas.Rich
Has the IMF {even though completely funded by the U.S. for the most part} taken any stance on the 'future' loans to any Euro Nations?
they unlike the fed, can only spend what congress funds the imf.. so i doubt they get funding for a euro bailout.
those who can, do. those who cant, talk about those who can
  • #401,352
  • Mar 4, 2011 11:57am Mar 4, 2011 11:57am
Quoting cloggie
That is the two edged sword. It is keeping the spreads from widening this week. As soon as the rate hike is priced in we will see the spreads widening again as the focus is back on Portugal. The FI boys will want to force Portugal to a bailout before the rate hike materialises as they will get paid twice. Trichet is not helping the periphery here at all but he has no choice as his mandate is purely inflationary. I am sure they had discussions on what it would cost to bailout the peripherry versus allowing inflation to get out of control. The focus...
Great insight...
  • #401,353
  • Mar 4, 2011 11:57am Mar 4, 2011 11:57am
Nice USDCHF chart work, samdani786.
Quoting samdani786
Its not a Gartley. Its a BUTTERFLY. I spotted it last year and shorting it since then . See attached.
  • #401,354
  • Mar 4, 2011 11:59am Mar 4, 2011 11:59am
Quoting gatorinla
they unlike the fed, can only spend what congress funds the imf.. so i doubt they get funding for a euro bailout.
yes, but you have to remember how much gold they have and are hedged against with a loan. If the 'right' strings are pulled ... money will come from there, that is what they are there for {technically speaking} ... just didn't know if there was any talk of them loaning out more cash.
  • #401,355
  • Mar 4, 2011 12:00pm Mar 4, 2011 12:00pm
Dinner time here. I am off. See you guys next time during big news events to count the WTF's and see the muppets post charts of how they saw all along that the ECB was contemplating a rate hike in their charts. The entertainment here knows no ends.


  • #401,356
  • Mar 4, 2011 12:00pm Mar 4, 2011 12:00pm
Hi everyone!
I am having an argument with my broker about his server errors and failure to provide correct quotes. Can anyone post a 15M and 1H chart for XAUUSD covering March.01.2011. Please...
  • #401,357
  • Mar 4, 2011 12:01pm Mar 4, 2011 12:01pm
e/u should make a correction of yesterdays move - so my next target is at least 1.3920-30
Pecunia non olet
  • #401,358
  • Mar 4, 2011 12:03pm Mar 4, 2011 12:03pm
Quoting Radik
Hi everyone!
I am having an argument with my broker about his server errors and failure to provide correct quotes. Can anyone post a 15M and 1H chart for XAUUSD covering March.01.2011. Please...
15m
Attached Image (click to enlarge)
Click to Enlarge Name: xau.gif Size: 18 KB
  • #401,359
  • Mar 4, 2011 12:04pm Mar 4, 2011 12:04pm
Quoting cloggie
I am waiting patiently for the right trigger too. Only a matter of time.

Here is daily for the Spain 5 yr for comparison and you can easily see the trouble Portugal is in. The second is the overlay. Going to be interesting to watch the spreads Bunds/SP/Port next week.

The last few weeks have been good fundie weeks to trade.
Italy needs 301 billon Euro in 2011 -- BUNGA BUNGA

Spain needs 136 billion Euro in 2011

Europe zone needs 1300 billion Euro in 2011

USA need 2200 billion Euro in 2011


Will be interesting - Euro to 1.20 or below this year
  • #401,360
  • Mar 4, 2011 12:05pm Mar 4, 2011 12:05pm
Quoting wm-eu
e/u should make a correction of yesterdays move - so my next target is at least 1.3920-30

I doubt ... lolz.... look at the way it bounce back up...
Seem like very strong demand ...

from 1.396X area ... this from today
1.395X area ... from yesterday

Unless Profits taking before the day end....
We won't see any major drop
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Yaruki