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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #2,681
  • Oct 14, 2011 7:38am Oct 14, 2011 7:38am
Quoting LearninForex
What do you people think will happen today in the next few hours considering all aspects after its reached 1.3880 now?


I asked from one and got so many people out there to improve my knowledge..sending link, posting definitions, explanations.. my hunger is increasing. Thanks so much all of you.. I am in the good company ! Appreciate it.


LF
You found the right thread. There's a lot of very experienced traders here Like PT, Aaron etc.. and it shows. Tradering only here, no gambling allowed... You can make a pretty good livng transferring gamblers accounts into yours.

I'm learning a lot here myself thanks to those who share.

Where price will go from here is anybodies guess. Will she take out the 1.39 barrier and head for the near term target of 1.3935 a lot a looking at or will she head back toward 1.38 where this latest rally originated?

Me personally, I missed the move so I'm looking for another short term opportunity if price drops so I can go long possibly around the 1.3800, I'm eyeballing it but havn't planned another trade yet. I'm sure somebody has taken it short @ 1.3888 too.

The best you can do is plan your best guess using fundamentals and technicals and manage the money properly. Everyone trades differently using moving averages, othe indicators, Fibbonacci levels, Elliot wave, support and resistance, candlestick and price patterns, fundamentals, news, supply and demand or whatever suits them and they understand best.

Everone trades diferently and on different time frames with different money management strategies and trading strategies. You have to find somethng you like that fits into your day and that makes sense to you. Where one trader is seeing short, another is seeing long.

Definatly read Babypips website, go though the different authors webinars on FXstreet and find what suits you. Trade on demo and learn and try different things.

When you try something you like, try it for at least 30 - 50 trades on demo and see if it works.
I don't care which way the market is going as long as it's going my way
  • #2,682
  • Oct 14, 2011 7:50am Oct 14, 2011 7:50am
Quoting FXMindset
EU Daily Outlook - Pre US Open

Slip little above..might be going up again till 1388 before turn south
my stoploss havent been hit yet
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily White Version.png Size: 33 KB
If there was easy money lying around,no one would be forcing it into your
  • #2,683
  • Oct 14, 2011 7:54am Oct 14, 2011 7:54am
I have been away from trading the last few days which has been good. I am looking forward to the days between now and November 4, 2011.

There are major events about to show themselves in this time period.

NFP and FED meeting and Europe SOLUTION G-20 - November 3 & 4TH

My take is that November 2011 will be a game changer including the SUPER DUPER PANEL of 12 WISE MEN and Women...

What is not being factored in by the market now IMO is the fact that there is NO SOLUTION to the problem in Europe. Either way the USA will be affected and then down goes Dow, Up goes Gold and down goes Euro.

I am just waiting for the elevator to reach the TOP and then ride it down and have fun being right. Ego is good under control.

I have missed posting here and hope to be back next week on a more regular basis.

Take care and have a great weekend.

Thanks again for the best thread on Forex Factory.

A place to call home.
  • #2,684
  • Oct 14, 2011 8:06am Oct 14, 2011 8:06am
Quoting PipKiller
You found the right thread. There's a lot of very experienced traders here Like PT, Aaron etc.. and it shows. Tradering only here, no gambling allowed... You can make a pretty good livng transferring gamblers accounts into yours.

I'm learning a lot here myself thanks to those who share.

Where price will go from here is anybodies guess. Will she take out the 1.39 barrier and head for the near term target of 1.3935 a lot a looking at or will she head back toward 1.38 where this latest rally originated?

Me personally, I missed the move so I'm...

I like your sign off line about John Adams.

It is nice to see your posts here. Take care.
  • #2,685
  • Oct 14, 2011 8:19am Oct 14, 2011 8:19am
My friends,

Each pair related one each other even its cross...
Please take a look the EURJPY Monthly and EURUSD Daily Once again
I dont smart in explain by words,so let the chart speak once again
I'm short EJ @ 107.40 Stop @ 107.90 Just and Adjusted EU Stop @ 13906

For EU I Found another Pattern since Its not quite valid but am keep hold my short till stop out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU Daily White Version.png Size: 34 KB
Click to Enlarge Name: EJ Monthly Zoom Out.png Size: 38 KB
Click to Enlarge Name: EJ Monthly Zoom In.png Size: 35 KB
If there was easy money lying around,no one would be forcing it into your
  • #2,686
  • Oct 14, 2011 8:26am Oct 14, 2011 8:26am
Quoting FXMindset
My friends,

Each pair related one each other even its cross...
Please take a look the EURJPY Monthly and EURUSD Daily Once again
I dont smart in explain by words,so let the chart speak once again
I'm short EJ @ 107.40 Stop @ 107.90 Just and Adjusted EU Stop @ 13906

For EU I Found another Pattern since Its not quite valid but am keep hold my short till stop out
Thanks for your charts FxMindset. As always the charts speak louder than words

I am very happy to have you as part of this thread. You have brought new insight with simple trend lines and I appreciate that. It goes to show everyone that charts do not have to be lit up with carnival colours to make sense.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #2,687
  • Oct 14, 2011 8:30am Oct 14, 2011 8:30am
Quoting PipTrapper
Thanks for your charts FxMindset. As always the charts speak louder than words

I am very happy to have you as part of this thread. You have brought new insight with simple trend lines and I appreciate that. It goes to show everyone that charts do not have to be lit up with carnival colours to make sense.

Cheers
PT
Hello Piptrapper,

might be not valid yet but am will keep find the valid pattern and share it here for everyone..I am the one that must said thank you for your generous and kindness for allowed me post in here

once again..thanks a lot
If there was easy money lying around,no one would be forcing it into your
  • #2,688
  • Oct 14, 2011 8:30am Oct 14, 2011 8:30am
Great news fellow traders.

I have updated page 1 with a RESOURCES section and I have made some minor changes to rule#3 regarding poster conduct.

Please visit page 1 at your next convenient opportunity to review the changes.

Any and all feedback is welcome.

Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #2,689
  • Oct 14, 2011 8:32am Oct 14, 2011 8:32am
Quoting FXMindset
Would leaving tomorrow morning @ Tokyo Open,So am share the daily outlook progress so far..hopes this help,I wont going Long now..Prepare my short limit @ 13880 and Stop @ 13895

Good Luck all & Trade Safe

This is, without any doubt, one of the best calls I have ever seen in my life. And over it, it have saved my account.
leyendary call, in my point of view.
thank you man
thank you very much
  • #2,690
  • Oct 14, 2011 8:33am Oct 14, 2011 8:33am
Quoting FXMindset
Hello Piptrapper,

might be not valid yet but am will keep find the valid pattern and share it here for everyone..I am the one that must said thank you for your generous and kindness for allowed me post in here

once again..thanks a lot
FxMindset, I have awarded you a voucher for reasons explained in my previous post. You have earned it.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
  • #2,691
  • Oct 14, 2011 8:35am Oct 14, 2011 8:35am
Quoting Hardpike
This is, without any doubt, one of the best calls I have ever seen in my life. And over it, it have saved my account.
leyendary call, in my point of view.
thank you man
thank you very much
I think might be not valid..please set your stop @ BE soon once the position move on your favour..I found another pattern and its still rising wedge. I will post the chart soon if 13893 cant be hold...

Glad can be help..


Once again Thanks
If there was easy money lying around,no one would be forcing it into your
  • #2,692
  • Oct 14, 2011 8:37am Oct 14, 2011 8:37am
Quoting FXMindset
I think might be not valid..please set your stop @ BE soon once the position move on your favour..I found another pattern and its still rising wedge..

Glad can be help..


Once again Thanks
no worries, I already closed all. I used this advice to hedge with high lot to get breath, and closed at the top level. Now i breath much better.

no,no, thank you man! you are amazing

oh and i will follow any update closely :-)
  • #2,693
  • Oct 14, 2011 8:39am Oct 14, 2011 8:39am
Quoting knoholygrail
I like your sign off line about John Adams.

It is nice to see your posts here. Take care.

Thank you. That's one of my favorite all time quotes.

I'm killing the long I put on earlier. It's close too noon on "freaky friday" and I would expect to see a bit of profit taking after this weeks strong rally. Going to take this one down a bit against the short term trend. I could be wrong though, stranger things have happened.

Breakout to the downside of a descending triangle on the 5 and 2, entered short on my scalp setup on a retrace to 1.3865, SL 1.3876 just above where the breakout started, TP 1.3815 possibly take earler @ 1.3845

Let's see what happens, worst she can do is take out my SL for a small loss.

Risk 11 pips
Profit 20 or 50 pips
R/R 1.8:1 or 4.5:1
Lot sized to 1% risk capitol

Attached Image

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Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: 2 trade 2.jpg Size: 128 KB
I don't care which way the market is going as long as it's going my way
  • #2,694
  • Oct 14, 2011 8:42am Oct 14, 2011 8:42am
Quoting PipTrapper
FxMindset, I have awarded you a voucher for reasons explained in my previous post. You have earned it.
Cheers
PT
a Thousand Thanks my friend...I am would focus EU analysis in this thread
If there was easy money lying around,no one would be forcing it into your
  • #2,695
  • Oct 14, 2011 8:50am Oct 14, 2011 8:50am
I just woke up and wow... have you seen the US retail sales and core retail sales numers? I'm really surprised... back to bullish. The best numbers I've seen this year.

Core Retail Sales m/m 0.6% 0.2% expected... you gotta check past data to understand my point (it usually gains 0.1% or max. 0.2%)

Retail Sales m/m 1.1% 0.5% expected (normally gains 0.2%

This year, we never got such good data coming from the US... Bullish now... Back to fake hope...

But remember that the market is still really sensible. If we get some bad important data it's going to craash again. The AU Monetary Policy Meeting Minutes could be the one giving us a heads up. The ECB is NOW providing price stability... before, they used to be our friends, saying ____ about the EZ, but now they are in action (which helps the Risk appetite sentiment). Therefore, bad data, crash...

Pbh
  • #2,696
  • Oct 14, 2011 8:53am Oct 14, 2011 8:53am
Quoting drtorque
long at 3745
SL 3715

lets see what next..
moving my SL to 3840..
  • #2,697
  • Oct 14, 2011 8:57am Oct 14, 2011 8:57am
EU Said to Consider One-Time 50% Greek Writedown

Germany and France still have a way to go on Greek debt solution

Japanese government official says Japan to unveil new steps against strong JPY as early as next week

Why The Euro Is Going Much Lower, Or The Mother Of All Compression Trades

.
Those who say it cannot be done should not interrupt those who are doing it
  • #2,698
  • Oct 14, 2011 9:10am Oct 14, 2011 9:10am
Quoting PipTrapper
EU Said to Consider One-Time 50% Greek Writedown

Germany and France still have a way to go on Greek debt solution

Japanese government official says Japan to unveil new steps against strong JPY as early as next week

[url="http://www.zerohedge.com/news/why-euro-going-much-lower-or-mother-all-compression-trades"]Why...
PT in the final article what do they mean by compression trade? Also in this quote do they mean we should be shorting the euro before the end of the day? "we encourage readers with a capacity to enact said compression trade to boldly go where no weak EUR short covering hands have dared go in the past 5 days"
  • #2,699
  • Oct 14, 2011 9:16am Oct 14, 2011 9:16am
Quoting PipTrapper
EU Said to Consider One-Time 50% Greek Writedown

Germany and France still have a way to go on Greek debt solution

Japanese government official says Japan to unveil new steps against strong JPY as early as next week

[url="http://www.zerohedge.com/news/why-euro-going-much-lower-or-mother-all-compression-trades"]Why...
TY PT, You

Stock rally this morning petering out too
I don't care which way the market is going as long as it's going my way
  • #2,700
  • Edited 10:30am Oct 14, 2011 9:31am | Edited 10:30am
Update on my last trade.

She bounced like a dead cat @ 1.3845 and made it to 1.3842 and curently lower. I'm holding on for my lower target near 1.3815. I may trail the trade on the 5 minute and close out the trade if it closes above the 20ema mean line of the bollinger bands.

SL moved 2 pips below entry for BE @ 1.3863

Note that the levels you see on this 5 min chart may not make sense as they were actually drawn on the 2 minute chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 trade 2 update 1.jpg Size: 126 KB



Final update.

She closed just above the 20 ema base line after a slow grind along the line. I closed the trade +13.5 pips. Just over 1:1 R/R with 11 risked. I like to use the 20 ema to trail trades to maximize profit on very short term trades. You can do the same thing with a trend line but you can also move the trend line wherever you want "hoping" for more pips as price turns against you. The 20 ema keeps you honest as long as you are mentally able to pull the trigger and take what the market gives you and not "HOPE" for more only to lose it all.

That ladies and gentlemen or whatever you preffer to call yourself LOL is how I scalp. No need for a 100 pip SL hoping to make 5 or 10 pips.

As they say, Bulls make money, Bears make money PIIGS(sorry couldn't help myself) get slaughtered.
Attached Image (click to enlarge)
Click to Enlarge Name: 5 trade 2 final.jpg Size: 129 KB



And on that note, I'm done for the day. Have a great weekend.

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I don't care which way the market is going as long as it's going my way
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