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  • #3,141
  • Jun 9, 2011 2:34am Jun 9, 2011 2:34am
Hi all.
Even if I don't trade out the fundamentals
(to pinpoint: I try to follow the pure Price Action in the now...)
I believe it's important not to lose the “Big Picture”.
Today markets are waiting to see if ECB signals July rate hike!
While the ECB is expected to keep interest rates on hold,
ECB President Jean-Claude Trichet is expected to signal a rate hike at next month's meeting.
The Trichet's press conference is at 12.30 GMT.

A)...Yesterday was a South day, at last.
PA is now hesitating... but seems to want to go North.
From 4700 to 4800 it will be a dangerous place to be.
We have “a walled city” around 4850!!!
B) ...The risk is that Trichet fails to mention "strong vigilance" and disappoints the market.
So, ahead of this event, big players could decide to cut long EUR positions.

Therefore, I believe strong and quick moves are likely in both directions. So watch out.
  • #3,142
  • Jun 9, 2011 2:50am Jun 9, 2011 2:50am
Quoting Jupiter
Hi all.
Even if I don't trade out the fundamentals
(to pinpoint: I try to follow the pure Price Action in the now...)
I believe it's important not to lose the “Big Picture”.
Today markets are waiting to see if ECB signals July rate hike!
While the ECB is expected to keep interest rates on hold,
ECB President Jean-Claude Trichet is expected to signal a rate hike at next month's meeting.
The Trichet's press conference is at 12.30 GMT.

A)...Yesterday was a South day, at last.
PA is now hesitating... but seems to want to go North.
From 4700 to 4800...
... just don't marry with your thinking process... it usually feeds the scorpion within just be nimble... go with the flow...

i normally watch price action during big events... i mean news release... that will stir the market crazy for me it's just gambling... because i don't know how to trade news releases... i cannot feel the flow...

like my old man said... when not certain... just stop...

Success consists of going from failure to failure without loss of enthusiam
  • #3,143
  • Jun 9, 2011 3:22am Jun 9, 2011 3:22am
Your ability in feeling the pulse is a “legend” to me.
You are simply great. Sensible and fine.
I, little student, can't manage without points of reference.
No indicators buy/sell, of course. Never.
But simple points of reference as “base” for the reading of the pure Price Action.
I swear... I don't marry anything.
I'm always wrong till the mkt proves I am right.
But...
What do I see now?
A double top on the Middle Pivot Point (4643)
and a support/resistance area at 4630.
Please help me to be a better trader.
This way of reasoning is dangerous?
If I'd understand this one...

Ouch... while writing, I miss the leg down... this is dangerous!
  • #3,144
  • Jun 9, 2011 3:32am Jun 9, 2011 3:32am
Quoting Jupiter
Your ability in feeling the pulse is a “legend” to me.
You are simply great. Sensible and fine.
I, little student, can't manage without points of reference.
No indicators buy/sell, of course. Never.
But simple points of reference as “base” for the reading of the pure Price Action.
I swear... I don't marry anything.
I'm always wrong till the mkt proves I am right.
But...
What do I see now?
A double top on the Middle Pivot Point (4643)
and a support/resistance area at 4630.
Please help me to be a better trader.
This way of reasoning is dangerous?
If...

that's the way soon you will find your inner strength...

.......

long scoutx4625 eu

smells the first trouble... exit all! that's my game plan
Success consists of going from failure to failure without loss of enthusiam
  • #3,145
  • Jun 9, 2011 3:46am Jun 9, 2011 3:46am
squared... 4620... will wait for a little while... cannot feel
Success consists of going from failure to failure without loss of enthusiam
  • #3,146
  • Jun 9, 2011 4:38am Jun 9, 2011 4:38am
You are the expert in pin-bars and shadow...
Would you mind to explain me the meaning of the candles above 4613?
Where are the bulls?
Extinction, maybe?
  • #3,147
  • Jun 9, 2011 4:45am Jun 9, 2011 4:45am
Catching flying missile... risky action.
4614 mine. Long scout in.
  • #3,148
  • Jun 9, 2011 4:52am Jun 9, 2011 4:52am
Not so sure back home at 4620.
  • #3,149
  • Jun 9, 2011 5:36am Jun 9, 2011 5:36am
Quoting Jupiter
You are the expert in pin-bars and shadow...
Would you mind to explain me the meaning of the candles above 4613?
Where are the bulls?
Extinction, maybe?

i'm no expert my friend and i didn't really get your question... remember we might be using different broker... or different closing period...

it might be a long wicked candle to you but might be appearing different to me...

that is why... to pulse and feel price action is king... if i can see pin bar... or any long wicked candles... that is to me a sign of exhaustion... a rejection... and need to focus more... waiting and looking for further confirmation of my current sentiment based on the current and previous feel of the market's action and gyration...
Success consists of going from failure to failure without loss of enthusiam
  • #3,150
  • Jun 9, 2011 5:38am Jun 9, 2011 5:38am
Quoting Jupiter
Catching flying missile... risky action.
4614 mine. Long scout in.

... just don't catch falling knives... dangerous!

i'm still flat... just waiting!
Success consists of going from failure to failure without loss of enthusiam
  • #3,151
  • Jun 9, 2011 5:54am Jun 9, 2011 5:54am
i think i found the candle you're refering to...

Attached Image (click to enlarge)
Click to Enlarge Name: 9 6.jpg Size: 112 KB


......

if that's the candle of your reference to make your long entry... i wonder why you did such call...

don't get me wrong... i too have this delima once in awhile...

but with this example... bears is very strong... and very intact...

you see the rejections at 1.4645 area... it was holding since yesterday...
after seeng the second rejection... where infact a failed breakout too... that's the time you should follow the flow and deploy your scout... on or before the candle close...

you see the pull back... to me... it is just feeding the bears... notice how bears run everytime bulls try to regain position...

and another pullback... and again the same story... bears are strong and intact...

to me... not until i can see a clean breakout through trendline... and see higher swing high... (not just new high) then it will be a good time to scout...

......

but looking at 4 hourly... and hourly... just touched a strong resistance and bound for correction now... so if i will be dancing... i will be dancing with bears... but not just yet... i don't have the feel...

i'm so annoyed with my website... still fixing it...

currently flat!

just be nimble... there are million ways to skin a cat
Success consists of going from failure to failure without loss of enthusiam
  • #3,152
  • Jun 9, 2011 5:57am Jun 9, 2011 5:57am
hey jups, you skype me tomorrow... then i can show you my chart and probably can give you a little bit of enlightenment on my entries

be carefull... too much news release is not healthy for a slow guy like me...

ciao!
Success consists of going from failure to failure without loss of enthusiam
  • #3,153
  • Jun 9, 2011 6:02am Jun 9, 2011 6:02am
I found out a great teacher!!!
And so kind...
PS: I sent you a PM.
  • #3,154
  • Edited 6:31am Jun 9, 2011 6:09am | Edited 6:31am
Quoting dongsky
hey jups, you skype me tomorrow... then i can show you my chart and probably can give you a little bit of enlightenment on my entries

be carefull... too much news release is not healthy for a slow guy like me...

ciao!
Can i join too? I would like to learn entries from you
every time after you post a chart, i wonder how you say so.. really like your interpretation and so amazed every time..

edit:
Sorry just realized that i am having day off today.. I may doing my day job in UK session..
  • #3,155
  • Jun 10, 2011 4:05am Jun 10, 2011 4:05am
Morning, Sir.
  • #3,156
  • Jun 10, 2011 4:07am Jun 10, 2011 4:07am
i've been ridding the short since 6 hours ago... but now i flipped and i'm long

Attached Image (click to enlarge)
Click to Enlarge Name: 10 6.jpg Size: 104 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 10 6 a.jpg Size: 106 KB
Success consists of going from failure to failure without loss of enthusiam
  • #3,157
  • Jun 10, 2011 4:07am Jun 10, 2011 4:07am
Going North. But it's hard.
  • #3,158
  • Jun 10, 2011 4:08am Jun 10, 2011 4:08am
...now i'm squared... 4485
need to run errands... no more milk for my pooridge !
Success consists of going from failure to failure without loss of enthusiam
  • #3,159
  • Jun 10, 2011 4:10am Jun 10, 2011 4:10am
Quoting Jupiter
Going North. But it's hard.
what made you say it's hard don't be rigid... just go with flow... if wrong then cut loose but if in rescue mode... don't hesitate just do it...

nimble...

wild price action sometimes happens during fridays... liquidations that is...
Success consists of going from failure to failure without loss of enthusiam
  • #3,160
  • Jun 10, 2011 4:10am Jun 10, 2011 4:10am
Have a nice walk.
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