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  • #341
  • Sep 30, 2011 8:15am Sep 30, 2011 8:15am
Quoting TheSwede
See you have a live order. On what did you take that on if I may ask?
Please ignore the sell order on the screenshot. It's a demo account and I was trying something out. I was playing the quick break through support.
  • #342
  • Sep 30, 2011 8:25am Sep 30, 2011 8:25am
ok, just curious . Is/Was a pretty good one though

Quoting ukdaytrader
Please ignore the sell order on the screenshot. It's a demo account and I was trying something out. I was playing the quick break through support.
  • #343
  • Sep 30, 2011 8:26am Sep 30, 2011 8:26am
Quoting ukdaytrader
Shorts look set for a fakey fakey, so keep stops tight.

Attachment

Dotted blue line needs to be revisited imo.
From a technical perspective you are 100% correct.
But today is one of those rare times where the fundies trump all the indies.
So, unless we get some breaking news, I stand by my sentiment that it is a risk-off day.
Mind you, I am nimble and I do have trails in place.
Best of luck today.

By the way, welcome to EurAnalysis. Great to have you here and look forward to more posts from you. We all need enlightening from time to time so would be interested to read any comments you may have about the sentiment in this thread.

Cheers

Those who say it cannot be done should not interrupt those who are doing it
  • #344
  • Edited 9:00am Sep 30, 2011 8:36am | Edited 9:00am
[\quote=PipTrapper;5002083]Hey Gopher,

Freaky Friday or not, entry into the sell zone or not, today the fundies will trump all. They may bid up the equity markets today (month and quarter end) but besides bad econ data out of Europe and a whole plethora of other reasons which I outlined in my update, the Troika in Greece are being harassed and not allowed to do their job. Therefore there will be no audit report before market close today. Which means??? That's right, risk aversion before market close. Euro spiral and equities back down to the bottom of the trading range.

In conclusion, my shorts are in place and I'm ready for it. [/quote]


It's GOFER not GOPHER, one gathers pips the other fleas!

IMHO, I don't mess with gaps until open on Sunday because IMF,ECB, EC may sneak in and get audits done in the dead of night, and market could gap either way depending on Greek resolution, or Helicopter Ben could open his mouth, or an earthquake destroy oil refineries, etc.. Therefore, only trades I leave open on weekends are long term small positions that don't draw down margin. I would rather say,"If only I had put that trade in!" than, " I wish I had sat on my hands!".

We may get that weekly close below 1.3420! First one this year, or head fake! Actually number is 1.34279....I had placed support line at 1.34200
For me there is always next week.
Good Luck!
  • #345
  • Sep 30, 2011 8:39am Sep 30, 2011 8:39am
Quoting Gofer Pips
Quoting PipTrapper
Hey Gopher,

Freaky Friday or not, entry into the sell zone or not, today the fundies will trump all. They may bid up the equity markets today (month and quarter end) but besides bad econ data out of Europe and a whole plethora of other reasons which I outlined in my update, the Troika in Greece are being harassed and not allowed to do their job. Therefore there will be no audit report before market close today. Which means??? That's right, risk aversion before market close. Euro spiral and equities back down to the...

It's GOFER not GOPHER, one gathers pips the other fleas!

IMHO, I don't mess with gaps until open on Sunday because IMF,ECB, EC may sneak in and get audits done in the dead of night, and market could gap either way depending on Greek resolution, or Helicopter Ben could open his mouth, or an earthquake destroy oil refineries, etc.. Therefore, only trades I leave open on weekends are long term small positions that don't draw down margin. I would rather say,"If only I had put that trade in!" than, " I wish I had sat on my hands!".

We may get that weekly close below 1.3420! First one this year, or head fake!
For me there is always next week.
Good Luck!
Good point.
Thanks.
I will close my lower positions today and leave my long term ones.
I'm running trails on my trades.
Those who say it cannot be done should not interrupt those who are doing it
  • #346
  • Edited 9:25am Sep 30, 2011 9:14am | Edited 9:25am
Equities bidding up and Euro holding it's losses. Interesting.
Still holding my shorts.

UPDATE: Stopped out one of my shorts at +54pips
Entry 1.3494 exit 1.3440
Will look for re-entry after consolidation.
Remaining shorts 1.3773 and 1.3604
If possible, plan on holding them long term.
.
Attached Image(s) (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #347
  • Sep 30, 2011 9:19am Sep 30, 2011 9:19am
  •  XDorkX
  • | Joined Sep 2011 | Status: I'm Polish & better looking than U | 183 Posts
Good MAE,

Great charts Pip, if she breaks the support next stop 3370ish?
  • #348
  • Sep 30, 2011 9:27am Sep 30, 2011 9:27am
Quoting XDorkX
Good MAE,

Great charts Pip, if she breaks the support next stop 3370ish?
1.3365
Those who say it cannot be done should not interrupt those who are doing it
  • #349
  • Sep 30, 2011 9:28am Sep 30, 2011 9:28am
  •  XDorkX
  • | Joined Sep 2011 | Status: I'm Polish & better looking than U | 183 Posts
Quoting PipTrapper
1.3365
Ahhh. getting closer thank you sir.
  • #350
  • Sep 30, 2011 9:29am Sep 30, 2011 9:29am
Quoting XDorkX
Ahhh. getting closer thank you sir.
My pleasure.
Those who say it cannot be done should not interrupt those who are doing it
  • #351
  • Sep 30, 2011 9:52am Sep 30, 2011 9:52am
I'm done for the day.
I have two short position trades in place
1.3773 and 1.3604
Sell-off should start soon so probably won't get enough of a consolidation for re-entry and I'm not chancing a fake breakout.
Happy weekend everybody

.
Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #352
  • Sep 30, 2011 10:00am Sep 30, 2011 10:00am
Does anyone else trade into the trends? For example, if you end up the wrong way on a trade, say you were long EUR/USD while this trade today surely looks to have a long term down trend. I realize it is probably a dangerous strategy, but when you have a reversal in the CCI on the 5 and 15 minute charts accompanied by increasing resistance, and the line is riding the lower bollinger for those periods, do a quick in and out on the bounce with a larger position to try and average into the trade?

I am new at this, but it has helped mitigate my losses to this point when I am wrong on the larger trend, obviously you can't let the trade out of your sight and be willing to take your lumps and get out when needed, but is this a viable strategy or insanity?

For example overnight I left a short position on CAD/USD, which I have noted trades opposite the EUR/USD pair largely. So as I was well down on the CAD/USD, rather than add to that position, I went long EUR/USD when the chart was hitting the lower bollinger band indicator, the CCI was below -100 and the %R on the Williams was -80. I would enter with a smallish position, willing to enter a second larger long position if that failed. I am only trading a .65 pip entry, then a 1 pip second order and 1.5 third, selling each of the larger orders if I recovered half my original position, and then just keep doing that until the whole thing is in profit as a whole, but not really the initial trade.
  • #353
  • Sep 30, 2011 10:02am Sep 30, 2011 10:02am
Had a busy morning didn't get to look at the charts but happy to see euro down and my trades from yesterday with you guys 1.3625 and 1.3597 up nicely.

My next main target for profit is 1.3050 now. A overlapping .618 and .382 fib.

I'm going to try and post a pic not sure how to do it well, I am new on here. But what I am trying to show is the big monthly candle piercing and going well below my 12ma which historically doesnt happen alot but when it does I catch alot of pips because it shows the direction long term I need to be trading. And this is why I am very bearish on Euro along with Aud,Nzd ... You can tell from the history when the USD get's in bull mode it really goes fast, so next week I'll look for more short oppertunities.

Have a good weekend everyone. (hope the pic shows up)
Attached Image (click to enlarge)
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  • #354
  • Sep 30, 2011 10:11am Sep 30, 2011 10:11am
my stop sells were triggered, so just taken profit from 3425 area.
Piptrader, you were right on the money working like a support level..

im looking for reentry to short, wanna goto weekend short.

just went long from 3430's... tight stop. target 3470's maybe
  • #355
  • Sep 30, 2011 10:17am Sep 30, 2011 10:17am
Quoting drtorque
my stop sells were triggered, so just taken profit from 3425 area.
Piptrader, you were right on the money working like a support level..

im looking for reentry to short, wanna goto weekend short.
Probably best to wait till Europe closes at around 11:30am. Then give it 15 mins and after that wait till it has retraced back up enough to a resistance line or falling trend line, On price action confirmation, that would be a good place to take a short. But do not take a short below 1.3485/95 area

Cheers
Those who say it cannot be done should not interrupt those who are doing it
  • #356
  • Sep 30, 2011 10:24am Sep 30, 2011 10:24am
Quoting PipTrapper
Probably best to wait till Europe closes at around 11:30am. Then give it 15 mins and after that wait till it has retraced back up enough to a resistance line or falling trend line, On price action confirmation, that would be a good place to take a short. But do not take a short below 1.3485/95 area

Cheers
is this the new painted area of yours? you have to teach how you come w/those man. very cool approach. loved it.

itll reach 3470, im curios now whether itll even break it up. how i wish. a cool correction.
  • #357
  • Sep 30, 2011 10:24am Sep 30, 2011 10:24am
Quoting drtorque
my stop sells were triggered, so just taken profit from 3425 area.
Piptrader, you were right on the money working like a support level..

im looking for reentry to short, wanna goto weekend short.

just went long from 3430's... tight stop. target 3470's maybe

I am looking at the 1.3475-80 area to add another short probibly just a quicky to see what it does. hopefully it spikes up there very well could go higher.
  • #358
  • Sep 30, 2011 10:25am Sep 30, 2011 10:25am
Quoting PipPipPip
Good evening all. Wow, price failedtomake another high. If supply and support gives way, my returns will just be exponential. keep it comin baby
250+pips.
  • #359
  • Sep 30, 2011 10:59am Sep 30, 2011 10:59am
In moments like this one, I really hate proxy in my work that prohibits me from using MT But I guess I'll just chill out and try to find best position to get (partially) out of market when I come back from work. And perhaps I'll leave some shorts open - even the strongest EZ magic won't break the Euros fall curse. The effects can only be delayed... So in longer term I hope I get another monthly bearish candle. After all, when you sit away from MT 10 hours a day and sleep at least 6, then you are forced to try longer term moves.
  • #360
  • Edited 11:22am Sep 30, 2011 11:04am | Edited 11:22am
Quoting Gaara
I am looking at the 1.3475-80 area to add another short probibly just a quicky to see what it does. hopefully it spikes up there very well could go higher.
Quoting drtorque
is this the new painted area of yours? you have to teach how you come w/those man. very cool approach. loved it.

itll reach 3470, im curios now whether itll even break it up. how i wish. a cool correction.
Patience guys, if it does not go there, don't trade. If you miss these few crumbs, remember the market bakes a new loaf every day.

Here's my tentative chart for next week with new sell zone.
It may not be accurate. Depends on sentiment on Monday. I may have to change it to a buy zone instead of sell zone but for now this is it.

I placed a sell limit order at 1.3494. See if it gets me triggered tonight.

.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: liveeurochart.jpg Size: 188 KB
Those who say it cannot be done should not interrupt those who are doing it
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