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EURUSD

  • #471,381
  • Jun 24, 2011 5:19am Jun 24, 2011 5:19am
bye bye EU...lol....
Patience, Emotion Control and Discipline.
  • #471,382
  • Jun 24, 2011 5:19am Jun 24, 2011 5:19am
Quoting Motiv
We are close to 1.42,1.40 today?
wait for hourly close
  • #471,383
  • Jun 24, 2011 5:20am Jun 24, 2011 5:20am
UK Financial Policy Committee: Euro zone debt crisis poses “most material and immediate threat”

Written by Gerry Davies
June 24, 2011 at 09:32 GMT

 

  1. Calls for banks to improve disclosure of sovereign, bank sector exposure on permanent basis
  2. Small UK banks, not in EU stress tests, should also disclose sovereign debt exposure
  3. Banks should use strong earnings to build up capital to shield against future stresses

LOL
BYE BYE GREECE!

Attached Image
  • #471,384
  • Jun 24, 2011 5:20am Jun 24, 2011 5:20am
Quoting TzarPips
How you doing?

lets just say I've been lucky...
Look Sharp/Trade Tight
  • #471,385
  • Jun 24, 2011 5:20am Jun 24, 2011 5:20am
Shares in Italian banks Intesa (ISP IM), Unicredit (UCG IM) suspended from trading, indicated down more than 3%
Well bank problems in Italy.
  • #471,386
  • Jun 24, 2011 5:22am Jun 24, 2011 5:22am
Out for -60...reversed now, it looks strong
COT: The precious data ignored
  • #471,387
  • Jun 24, 2011 5:23am Jun 24, 2011 5:23am
Quoting sisse
Hey Hatch, How r you doing? I hope your trading is going good...

What do you mean mate with ordinary fib-tool? I opened your chart but needs a little bit of context to understand your point (I don't get what you are trying to show, plus I don't know what the other guy dustbin levels whatever means .)?

There is more than 40 levels in that M5 chart, is that Fib + Mofus + Gator view?

In any case flat here across markets, having a boring lunch...

sisse
Hi Sisse,

doing obscenely good lately again.

You already know about the dustbin trade(r)s, don't you? Basically, they're employing st-charts and looking for respect/rejection of levels that are 20 pips apart. 20 pips for each level on the fib-tool means each level is 100% apart from each other. I look for consolidations that set the boundaries of levels for the future, always. What you can do on m5 with 20 pip-levels, you can as well do on H1 for 50 pip-levels and on H4 for ~120 pip-levels.
The dustbin traders take small profits between 12 and 20 pips, I choose an entry based on higher tf, like 4220 today for a valid long entry on the break to the upside(!). After that, I just move my SL around and mostly take (partial) profits on the next level. If one of the defined levels break, market always considers the next available level as its target. The level it has to break can be considered the mid in a gator-sense, yes... but his technique is way too sophisticated.
The profit taking depends a bit on the movement itself. You know, e/u like to move 2 steps forward, one step back when trending, so I take partial profits, move my SL, eventually add small portions again.

The initial thought came to my mind watching Gleneagles daily results on a trending day... he stated something like 5x12 (just an example), while we moved 140 pips in one direction... I just thought, wtf, why not grab more of that?

It's a really simple but effective strategy.
  • #471,388
  • Jun 24, 2011 5:23am Jun 24, 2011 5:23am
Some ruling party member in Greece are undecided about fiscal reform legislation

Lots of bad news in same time in eurozone,very strange
  • #471,389
  • Jun 24, 2011 5:24am Jun 24, 2011 5:24am
Quoting PayTheLimit
lets just say I've been lucky...
ptl, how about 4138 today ?
Hero calls followed by margin calls...
  • #471,390
  • Jun 24, 2011 5:25am Jun 24, 2011 5:25am
Let's do a sell off and take 500pips in a lovely friday in Portugal around 40ºc today
  • #471,391
  • Jun 24, 2011 5:25am Jun 24, 2011 5:25am
another monthly to monthly, 2bars this time...
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Look Sharp/Trade Tight
  • #471,392
  • Jun 24, 2011 5:26am Jun 24, 2011 5:26am
Quoting PhAnTi'
ptl, how about 4138 today ?
lol...4118.4 or 4396.7....lol
Look Sharp/Trade Tight
  • #471,393
  • Jun 24, 2011 5:26am Jun 24, 2011 5:26am
2x15 1x30 2x15
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  • #471,394
  • Jun 24, 2011 5:28am Jun 24, 2011 5:28am
Quoting Motiv
Let's do a sell off and take 500pips in a lovely friday in Portugal around 40ºc today
500 lol ^^

highest been given was ~ 600 a day ...guess around 1994, ask ptl ^^
Hero calls followed by margin calls...
  • #471,395
  • Jun 24, 2011 5:28am Jun 24, 2011 5:28am
Quoting Mr Hatch
Hi Sisse,

doing obscenely good lately again.

You already know about the dustbin trade(r)s, don't you? Basically, they're employing st-charts and looking for respect/rejection of levels that are 20 pips apart. 20 pips for each level on the fib-tool means each level is 100% apart from each other. I look for consolidations that set the boundaries of levels for the future, always. What you can do on m5 with 20 pip-levels, you can as well do on H1 for 50 pip-levels and on H4 for ~120 pip-levels.
The dustbin traders take small profits between 12...
hey there, great and simple stuff!

do you pair it with any indicator for additional direction?
  • #471,396
  • Jun 24, 2011 5:28am Jun 24, 2011 5:28am
Italian Banks shares going down... FTSE MIB went from +1.3 to -2 in matter of minutes... Still unclear why... Gonzalez-Paramo speaking now...
  • #471,397
  • Jun 24, 2011 5:28am Jun 24, 2011 5:28am
what a day, up 100 pips down 80 pips, I see more action after 1230gmt
Lets Soar The Sky
  • #471,398
  • Jun 24, 2011 5:28am Jun 24, 2011 5:28am
Quoting Piters
rofl.. yes mate.
Do your job the best you can,,,
I'm fine.. Plenty pips this week..
But will look for shorts below DPP or LTL

Cheers and GL

[Chart]
Nasty moves up and down... lol back to 1.421x. without the minimum noise in weekly and daily roll ....below M15 traders having their party alone, reversal there having the strength and holding as in above H1 charts.... well done to all bears.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #471,399
  • Jun 24, 2011 5:31am Jun 24, 2011 5:31am
Quoting PhAnTi'
500 lol ^^

highest been given was ~ 600 a day ...guess around 1994, ask ptl ^^
Just kidding 500 is only a number, 100 will be enough
  • #471,400
  • Jun 24, 2011 5:31am Jun 24, 2011 5:31am
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Hero calls followed by margin calls...
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