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  • #405,321
  • Mar 11, 2011 11:14am Mar 11, 2011 11:14am
200 ema above pa m30 will it hold.
  • #405,322
  • Mar 11, 2011 11:15am Mar 11, 2011 11:15am
Officially I gave up today .....
not gonna add any losing positions ....
damn AUD/USD .......
160 PIPS raise .... so amazing ....
only - 30 PIPS ... but damn ...
  • #405,323
  • Mar 11, 2011 11:15am Mar 11, 2011 11:15am
Quoting Pipwanderer
200 ema above pa m30 will it hold.

No, ask yourself how easy will it be to blow through it. What is it with you guys in the last couple of days, daring each other to keep picking tops and bottoms.
  • #405,324
  • Mar 11, 2011 11:15am Mar 11, 2011 11:15am
''Fisher: oil trade has now nothing to do with supply and demand levels''

Hero calls followed by margin calls...
  • #405,325
  • Mar 11, 2011 11:16am Mar 11, 2011 11:16am
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #405,326
  • Mar 11, 2011 11:16am Mar 11, 2011 11:16am
h8....
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  • #405,327
  • Mar 11, 2011 11:17am Mar 11, 2011 11:17am
I understand cloggie, but I have to learn when the trend is changing... we were all down all the time so I was trying to find reasons to stay short... but now it's reversed and I dropped pips...
  • #405,328
  • Mar 11, 2011 11:18am Mar 11, 2011 11:18am
yeah man, we need a reverse psychology class, because every step of the way we are asking all the wrong question and that always puts people on the wrong side of the trade (me included, more often than would like to admit).

Quoting cloggie
No, ask yourself how easy will it be to blow through it. What is it with you guys in the last couple of days, daring each other to keep picking tops and bottoms.
  • #405,329
  • Mar 11, 2011 11:18am Mar 11, 2011 11:18am
Quoting cloggie
What are you expecting with the quake in Japan. You keep trying to pick tops here? Just go with the flow, like I have said all week, never ever look for a reason to reverse, keep looking for reasons to stay in.
Hi Cloggie,
I know it may sounds silly but why does Japan made it go so high?

Cheers.
  • #405,330
  • Mar 11, 2011 11:19am Mar 11, 2011 11:19am
Quoting fldash
I understand cloggie, but I have to learn when the trend is changing... we were all down all the time so I was trying to find reasons to stay short... but now it's reversed and I dropped pips...

I closed my longer term trade yesterday at 3790 for a reason and fully expected a bit of a bounce, technically we were due for one, apoplogies to the casualties in Japan, but the quake just exaggerated the correction and the fundies and techs been pulling in the same direction all day long.

Days like this are the easiest to trade, everybody and his brother is in the same d@rn trade, just follow the crowd.
  • #405,331
  • Mar 11, 2011 11:20am Mar 11, 2011 11:20am
Next time when there's a quake ...
I'm gonna buy XAU/USD ... (Gold Baby) ....
  • #405,332
  • Mar 11, 2011 11:22am Mar 11, 2011 11:22am
Quoting aarontdang
Next time when there's a quake ...
I'm gonna buy XAU/USD ... (Gold Baby) ....

All depends where the quake is and how it affects global trade. Right now the Nikei futures are dropping, Japan sovereign debt is going up, Yen is being repatriated, the US is the most affected, due to carry trade so Yen up, dollar down, just follow the herd.

Right now keep an eye on 85, if that goes 3915 next, if it holds see how far down it goes, find your lower trigger and see if it holds as support, if it does reload, the one to watch below here is 3850.

Always look for if-then-if's (Gator is brilliant at it), there are loads of obvious levels with no-mans land in between, that space needs to get filled. The higher the TF, the larger the no-mans land, find what suits you and what you like and trade the triggers.

If you are comfortable in CT scalps and have a good record doing so, then the if-then-ifs can be used to scalp a few here and there on the dips, if you are cr@p at it (as most here are) just ignore the dips and use them to load up till the next level.

Leave your normal thought processes at the door of your trading room, price in motion is a heck of a lot harder to reverse then you think it is. A fundie/tech trade like today would need Billions to turn around, it took 100 of Bns to get going, where do you think that money is coming from this time of the day, especially on a friday.

Just imagine how many Yen need to come home to pay for today.
  • #405,333
  • Mar 11, 2011 11:23am Mar 11, 2011 11:23am
Quoting samdani786
nice job
  • #405,334
  • Mar 11, 2011 11:23am Mar 11, 2011 11:23am
Quoting cloggie
All depends where the quake is and how it affects global trade. Right now the Nikei futures are dropping, Japan sovereign debt is going up, Yen is being repatriated, the US is the most affected, due to carry trade so Yen up, dollar down, just follow the herd.

Right now keep an eye on 85, if that goes 3915 next, if it holds see how far down it goes, find your lower trigger and see if it holds as support, if it does reload, the one to watch below here is 3850
Alright. Thanks for the answer
  • #405,335
  • Mar 11, 2011 11:25am Mar 11, 2011 11:25am
Break out
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  • #405,336
  • Mar 11, 2011 11:26am Mar 11, 2011 11:26am
omg - what for a day in the e/u

first this more than 80 pips crash and this a 120 pips rally...
Pecunia non olet
  • #405,337
  • Mar 11, 2011 11:27am Mar 11, 2011 11:27am
Quoting cloggie
What are you expecting with the quake in Japan. You keep trying to pick tops here? Just go with the flow, like I have said all week, never ever look for a reason to reverse, keep looking for reasons to stay in.
Yup. We go long until we go short. Not a moment before. Just glancing over the charts, the last opportunity for a decent short after the DPP bounce last night, was the break of 3790. After that play, it's been long ever since.
  • #405,338
  • Mar 11, 2011 11:28am Mar 11, 2011 11:28am
Yes in a time of crisis people most obviously move to the safe currency which is the Dol.... oh wait...
  • #405,339
  • Mar 11, 2011 11:30am Mar 11, 2011 11:30am
Quoting Orbital
Yes in a time of crisis people most obviously move to the safe currency which is the Dol.... oh wait...

The "funny" bit in all of this is that the Yen is a safe haven currency as it is so predictable, loads of algos will be taking flight to it, that exaggerates the fundie and techie trigger, that's why we see such a drop today.
  • #405,340
  • Mar 11, 2011 11:30am Mar 11, 2011 11:30am
Looks like range is done for a typical Friday by 12pm EST - 7 pips short of S1 but nailed R1 10 minutes.
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