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Flag trading the trend

  • #3,561
  • Apr 18, 2011 8:11am Apr 18, 2011 8:11am
Quoting Joel
Like, what happened????
Geez, was preparing for it and seeya!
  • #3,562
  • Apr 18, 2011 8:11am Apr 18, 2011 8:11am
You are at the possible extreme ATR for the day and some big banks decided to get out. Other big banks are driving the price up so as to suck us little guys in then they will take profit. Be careful you are being set up. Cherokee
  • #3,563
  • Apr 18, 2011 8:18am Apr 18, 2011 8:18am
Quoting Cherokee
You are at the possible extreme ATR for the day and some big banks decided to get out. Other big banks are driving the price up so as to suck us little guys in then they will take profit. Be careful you are being set up. Cherokee
++++++++++++++++++++++++++++++++

ATR, good point. But something had to happen to cause this sudden move.

Was looking to me like a 5th wave going down, so I liked the trade from that perspective.
  • #3,564
  • Apr 18, 2011 8:18am Apr 18, 2011 8:18am
Oh , thats easy, call Forex customer service....I'm sure they'll give you a refund. Be sure and bring your receipt......
Quoting diamonddbw
++++++++++++++++++++++++++++++++

Not sure. Chances are somebody shot off their mouth.

A good trade gone bad. Fortunately I had already moved my stop down from the extreme, but still negative. I want my money back! Who do I see?
  • #3,565
  • Apr 18, 2011 8:19am Apr 18, 2011 8:19am
So what does this mean for the rest of the session? Any takers on thinking they know where it is going from here?
  • #3,566
  • Apr 18, 2011 8:23am Apr 18, 2011 8:23am
Hey Flaggers,

Standard and Poors affirmed current rating but announced a possible downgrade in US credit rating by 2013. That would be a huge hit to the US economic recovery.

Jon
  • #3,567
  • Apr 18, 2011 8:24am Apr 18, 2011 8:24am
Well now we have 3 candles down retracement and all the suckers that jumped in long are losing their shirts. This is called "understanding the order flow" or how the big money works. I am just beginning to understand it. Cherokee
  • #3,568
  • Apr 18, 2011 8:25am Apr 18, 2011 8:25am
Where's the calvary when you need em?
  • #3,569
  • Apr 18, 2011 8:25am Apr 18, 2011 8:25am
what happened here any real news to this spike no rumors please
  • #3,570
  • Apr 18, 2011 8:26am Apr 18, 2011 8:26am
S and P cut USA rating
  • #3,571
  • Apr 18, 2011 8:30am Apr 18, 2011 8:30am
Quoting jrushing
S and P cut USA rating
http://talking-forex.com/headlines/50026 Rating on US: outlook revised to negative from stable
  • #3,572
  • Apr 18, 2011 8:30am Apr 18, 2011 8:30am
Quoting Divergence
what happened here any real news to this spike no rumors please
So after a spike like that what is your overall assessment/sentiment about trading out the rest of the session? Or do you wait for a while to let the market settle out in a direction again? Or do you disregard the spike in your assessment?
  • #3,573
  • Apr 18, 2011 8:32am Apr 18, 2011 8:32am
You don't need an announcement. The big money decided to make the market move. Wait for it to calm down. Look at London market this morning. It calmed down after a big move. Don't try to play in this market till it calms down and starts to look like our basic pullback system around the ma. Cherokee
  • #3,574
  • Apr 18, 2011 8:33am Apr 18, 2011 8:33am
news flash:: Joel of forex factory put on a 1 trillion dollar order to buy euro forex market in a flux thinking he is trying to corner the markets. 5 major countries are in talks as to making joel there king we will see how this news unfolds!!!
  • #3,575
  • Apr 18, 2011 8:33am Apr 18, 2011 8:33am
Quoting Rcwso
So after a spike like that what is your overall assessment/sentiment about trading out the rest of the session? Or do you wait for a while to let the market settle out in a direction again? Or do you disregard the spike in your assessment?
Rcwso, when you're not sure, stay out of the market. It's much better than forcing trades and losing money.
  • #3,576
  • Apr 18, 2011 8:33am Apr 18, 2011 8:33am
Quoting Cherokee
You are at the possible extreme ATR for the day and some big banks decided to get out. Other big banks are driving the price up so as to suck us little guys in then they will take profit. Be careful you are being set up. Cherokee
What's ATR?
  • #3,577
  • Apr 18, 2011 8:35am Apr 18, 2011 8:35am
Quoting Divergence
news flash:: Joel of forex factory put on a 1 trillion dollar order to buy euro forex market in a flux thinking he is trying to corner the markets. 5 major countries are in talks as to making joel there king we will see how this news unfolds!!!
Divergence, are you sure it was Joel? I thought you closed out your $100000 per pip orders.
  • #3,578
  • Apr 18, 2011 8:36am Apr 18, 2011 8:36am
Hail King Joel
  • #3,579
  • Apr 18, 2011 8:36am Apr 18, 2011 8:36am
Div. I'd like you to be my minister of finance..........Good pay and perks.....
Quoting Divergence
news flash:: Joel of forex factory put on a 1 trillion dollar order to buy euro forex market in a flux thinking he is trying to corner the markets. 5 major countries are in talks as to making joel there king we will see how this news unfolds!!!
  • #3,580
  • Apr 18, 2011 8:38am Apr 18, 2011 8:38am
i accept the position on behalf of my people long live the king!
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