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High velocity trading

  • #701
  • Sep 30, 2011 2:21am Sep 30, 2011 2:21am
right now going against the dollar is pretty much committing suicide guys!
  • #702
  • Sep 30, 2011 2:26am Sep 30, 2011 2:26am
EUUD.. short this as per hoz line and thumb....
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  • #703
  • Sep 30, 2011 2:29am Sep 30, 2011 2:29am
Short this at trendline break
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  • #704
  • Sep 30, 2011 2:30am Sep 30, 2011 2:30am
Quoting danc
AudJPY... weekly.... May be worth watching..
It's interesting to watch it YES, however right now is not the time to make any decision. Currently MS1 was rejected and SUP turned RES on daily charts.

We can still do more downside before a rebound can be expected. Besides new monthly levels are coming out soon, so I'll stand aside.

Pretty much JPY is not moving at all right now, and AUD looks like it will trade lower due to dollar strength. All that meaning that we can't go LONG, unless some fundumental changes occur.

http://img196.imageshack.us/img196/4...d130092011.png
  • #705
  • Sep 30, 2011 2:33am Sep 30, 2011 2:33am
Dan good stuff, right now a little retrace is up, still the dollar is just playing mind games. So long it's above 78.20 shorts should be good. Still need to watch this space closely!
  • #706
  • Sep 30, 2011 2:34am Sep 30, 2011 2:34am
M30 candle on EU/AU and dollar looks like a retrace will be up, but one M30 candle generally is not enough to make/break the move.
  • #707
  • Sep 30, 2011 2:35am Sep 30, 2011 2:35am
RR...After your comments last nite..moved further out in my time frames..on DXY... and crosses i was trading,, 4 hrs on EUUD.. Cable and Dragon... and saw bearish pattens on the three crosses..bullish dxy..
  • #708
  • Sep 30, 2011 2:35am Sep 30, 2011 2:35am
Quoting ruffryders
M30 candle on EU/AU and dollar looks like a retrace will be up, but one M30 candle generally is not enough to make/break the move.
This BTW is an important rule IMOP.

Unless M30 candle is @ psych level (50 or 00). I'd discount M30 reversal if it's too close to TL break and not near the psych level.
  • #709
  • Sep 30, 2011 2:39am Sep 30, 2011 2:39am
this is a common pattern. After TL break PA will seek to retest it before going further down. It's tiring (psychologically) but that's like an almost 90% guarantee that PA will play mind tricks on us.
  • #710
  • Sep 30, 2011 2:41am Sep 30, 2011 2:41am
Quoting ruffryders
http://img190.imageshack.us/img190/5...ak30092011.png

GOLD M5. Considering short selling upon TL break (if any!)
M5 TL still holding, meaning no shorts are taken (yet). Still watching this space closely. It's the BRENT that is causing trouble now it wants to retrace.
  • #711
  • Sep 30, 2011 2:52am Sep 30, 2011 2:52am
Reversal lesson that can help identify valid/invalid reversals.

http://img593.imageshack.us/img593/9...3030092011.png

Lets review this M30 EU chart. @ 3600 we see a valid red candle reversal touching the level and then PA goes straight down. We also (if we plot TL) have a TL touch confluence. This was a valid M30 reversal candle and a signal to enter SHORT.

Right now. We got 3500 M30 candle reversal right now. Again I would discount this as invalid reversal. Why? Because it's too close to the TL break point (see previous charts).

Still price action chose to reverse right now. Which obviously is not a good sign for the shorts. Mine got squeezed out. Looking for re-entry anyway.

So the lesson here is this - looking for reversal M30 candles at psych levels (50 and 00) and tech confluence (WP/R/S level and/or TL rejection-touch) will get your greater entries and better R/R management.
  • #712
  • Sep 30, 2011 2:54am Sep 30, 2011 2:54am
http://img191.imageshack.us/img191/1...3030092011.png

This BRENT M30 green candle @ sup level that's what is causing trouble right now.
  • #713
  • Sep 30, 2011 3:26am Sep 30, 2011 3:26am
taking an EJ long here (90) with SL @ 25 pips. TP open right now.
  • #714
  • Sep 30, 2011 3:31am Sep 30, 2011 3:31am
Quoting ruffryders
taking an EJ long here (90) with SL @ 25 pips. TP open right now.
Reason for the trade: USDJPY going higher, EJ tl confluence + dbl bott @ M30 + Above WP
  • #715
  • Edited 4:00am Sep 30, 2011 3:46am | Edited 4:00am
Quoting ruffryders
Reason for the trade: USDJPY going higher, EJ tl confluence + dbl bott @ M30 + Above WP
come on guys, noone trading today? This is a good HQ setup which should deliver good pips.
  • #716
  • Sep 30, 2011 3:54am Sep 30, 2011 3:54am
Quoting ruffryders
come on guys, noone trading today? This is a good HQ setup which should delivery good pips.
Ok I guess it's just me and the gold vault then.

http://sprocketink.com/wp-content/up...rline-dive.jpg
  • #717
  • Sep 30, 2011 4:15am Sep 30, 2011 4:15am
ej you are long?
  • #718
  • Sep 30, 2011 4:17am Sep 30, 2011 4:17am
Quoting stevebalmmer
ej you are long?
yeah currently LONG since 90. We are building a base above previous highs of 85 so I'm not concerned about this pullback.
  • #719
  • Sep 30, 2011 4:22am Sep 30, 2011 4:22am
brent tf 30 is at a short range,
gold and silber must go down to0.
  • #720
  • Sep 30, 2011 4:25am Sep 30, 2011 4:25am
Quoting ruffryders
M5 TL still holding, meaning no shorts are taken (yet). Still watching this space closely. It's the BRENT that is causing trouble now it wants to retrace.
GOLD no TL break means no SHORT right now.
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