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  • #403,441
  • Mar 9, 2011 10:04am Mar 9, 2011 10:04am
Quoting T@rantula
tweezers bottom vs support and 3 bullies. STO o/s on h1, channel bottom.

Good confluence
T - question for you .

for the most part, do you get your signals off timeframes greater than 30M, and then look for confirmation and entry levels using lower tf's and s/r levels?

cheers & thx
  • #403,442
  • Mar 9, 2011 10:05am Mar 9, 2011 10:05am
hey hash heads


who give the fiber the blue thing
  • #403,443
  • Mar 9, 2011 10:08am Mar 9, 2011 10:08am
Quoting Redeemed1
I have learned that in EUR/USD, it can stay in an "overbought" range as long as it feels like it. Many new traders see this as an opportunity to short leading to pain and suffering. This pair can go through periods where nothing makes sense at first glance. IMO it is most important to understand risk-on vs risk off bias and then apply it to fundamentals. USD is no longer the "rock" it used to be until the FED stops devaluing it...in turn this pair is one of the more unreliable pairs until one understands its PA. 1.43 is easily attainable with...
I agree 100%. I remember back in 2009 I used to think the same, how the euro was so overvalued and should come down and that sucker went all the way up to 1.50+ wiping me out. Of course, it did come down eventually but for all the good that did to me.

My point being, be careful with preconceptions and assumed notions.
  • #403,444
  • Mar 9, 2011 10:09am Mar 9, 2011 10:09am
Quoting T@rantula
Yes yes. Steve is one of my favourite . He has a great insight into candles and candlestick formations.

Great guy he is indeed.

Thanks
got the mans book ancient candlestick charting techniques ,seems full of insight how to intrerpret candles properly,thou cant get force myself to spend time reading it properly :/
  • #403,445
  • Mar 9, 2011 10:10am Mar 9, 2011 10:10am
Quoting gatorinla
st a target #1 3935.9 we didn't touch it yet.. #2 3957/61
the last move down from 3940 had a bear target at 3889.5.. we didn't touch it either. but when so close we usually do.. a dt just below 2940 (touch 3935.9). then 3889.5.. is plausible.
those who can, do. those who cant, talk about those who can
  • #403,446
  • Mar 9, 2011 10:12am Mar 9, 2011 10:12am
Quoting Vladimir1987
Hi,

Had an ugly day but still in the mood hehe

Well i think weekly highs will be visited from last month or at least 4080.

Have a bad entry but think this will work out with a stop below 3890.
Im in at 3927 like i said a bad entry.

Had a short in the morning and left the pc and got s/o for -50. Got to get them back..
Majority of retailers going long right now, contrarian indicator alert
  • #403,447
  • Mar 9, 2011 10:13am Mar 9, 2011 10:13am
Quoting gatorinla
the last move down from 3940 had a bear target at 3889.5.. we didn't touch it either. but when so close we usually do.. a dt just below 2940 (touch 3935.9). then 3889.5.. is plausible.

i will be happy with 91


dam i still love london
  • #403,448
  • Mar 9, 2011 10:16am Mar 9, 2011 10:16am
eu on the channel yet ...
http://021.img98.net/out.php/i162393_eu05.gif
  • #403,449
  • Mar 9, 2011 10:17am Mar 9, 2011 10:17am
Quoting kill56
i will be happy with 91


dam i still love london
both are protected.
those who can, do. those who cant, talk about those who can
  • #403,450
  • Mar 9, 2011 10:19am Mar 9, 2011 10:19am
Quoting AllyB
t sure can suck living in the good ole USA
you can say that again. add the CFTC Gestapo and we are royally fu*ked.
  • #403,451
  • Mar 9, 2011 10:20am Mar 9, 2011 10:20am
Quoting Tenshi28
I agree 100%. I remember back in 2009 I used to think the same, how the euro was so overvalued and should come down and that sucker went all the way up to 1.50+ wiping me out. Of course, it did come down eventually but for all the good that did to me.

My point being, be careful with preconceptions and assumed notions.
I was in the same boat as you. I was fooled into thinking that the markets have to make logical sense.
  • #403,452
  • Mar 9, 2011 10:23am Mar 9, 2011 10:23am
Quoting jaylovin
agree... first real support here 1.3861 area imo - i am long until above 1.41 or until move below 1.3839 ... stops in place BE + 10pips....

we may even see 1.42.. if we reach there i will short this mother through the floor...

Closed all my shorts for an extra + 60 PIPS ....

Total : + 130 PIPS for today ...

+ 430 PIPS since Sunday
  • #403,453
  • Mar 9, 2011 10:27am Mar 9, 2011 10:27am
Quoting Redeemed1
I was in the same boat as you. I was fooled into thinking that the markets have to make logical sense.
The markets do make logical sense, but not in the sense that most people have about them.

Price is continually attracted to supply and demand levels. As soon as a level breaks or holds, play to the next level and close it out, wait for the next move. Rinse Repeat. Take your losses when you are wrong.
  • #403,454
  • Mar 9, 2011 10:30am Mar 9, 2011 10:30am
Quoting aarontdang
Closed all my shorts for an extra + 60 PIPS ....

Total : + 130 PIPS for today ...

+ 430 PIPS since Sunday
good work...

more green pips to you
  • #403,455
  • Mar 9, 2011 10:30am Mar 9, 2011 10:30am
So far so good. No ass handing yet. I'm guessing my true test will come with a bad day.
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  • #403,456
  • Mar 9, 2011 10:30am Mar 9, 2011 10:30am
Quoting Redeemed1
I was in the same boat as you. I was fooled into thinking that the markets have to make logical sense.
Precisely. I would say that should probably be rule number 1 of trading: never assume markets will make any sense.
  • #403,457
  • Mar 9, 2011 10:32am Mar 9, 2011 10:32am
Quoting Venice
The markets do make logical sense, but not in the sense that most people have about them.

Price is continually attracted to supply and demand levels. As soon as a level breaks or holds, play to the next level and close it out, wait for the next move. Rinse Repeat. Take your losses when you are wrong.
Yeah that's all great and good on paper but then you have price reacting in opposite ways to the same events and you realize there's a lot more than meets the eye.
  • #403,458
  • Mar 9, 2011 10:33am Mar 9, 2011 10:33am
Quoting jaylovin
good work...

more green pips to you

See ... 1.39 Broke ... damn
shoulda hold my short longer ...
but oh well.... i'll wait for some retrace later on
tonite ....+130 PIPS for today ... sound good already
not trying to be greedy .. and let the market take it back
  • #403,459
  • Mar 9, 2011 10:34am Mar 9, 2011 10:34am
Quoting aarontdang
See ... 1.39 Broke ... damn
shoulda hold my short longer ...
but oh well.... i'll wait for some retrace later on
tonite ....+130 PIPS for today ... sound good already
not trying to be greedy .. and let the market take it back
i never said it wouldn't break... but i also don't call this a 'break' .... not yet..
  • #403,460
  • Mar 9, 2011 10:35am Mar 9, 2011 10:35am
Quoting Tenshi28
Yeah that's all great and good on paper but then you have price reacting in opposite ways to the same events and you realize there's a lot more than meets the eye.
On paper, really? Funny, price seems to act this way just about every single time I trade it.

Supply and Demand, that's all there is to it. Don't need to overcomplicate things. A level is either going to hold or it is going to be blown through... watch the charts, play the reaction and trade to the next level.
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