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  • #562,841
  • Nov 16, 2011 11:20am Nov 16, 2011 11:20am
Quoting tashkent
obvious, sure. but its just a retracement, i suppose...
38.2%
Quant Hedge Fund CEO
  • #562,842
  • Nov 16, 2011 11:21am Nov 16, 2011 11:21am
Quoting Geppy
It definitely could get that high and test the upper boundary of the downtrend channel. I would advise still watching the PA at 1.3650 very closely.

The good news is... this seems to be a nice, slow grind retracement. None of this fundamental puppy surprise crap that will shoot it up super quick, and just as quick back down. In other words, you should have plenty of time to decide if PA continues through 1.3650 or stalls out and drops again. I'll be doing the same, just without a long on
Thanks, I'm watching the PA the whole way up, will manually take profit if I have to, and will intently be watching 1.3650. Btw, I trade my charts naked as well too, indicator free, just s/r, fibos on the larger time frames and trend lines.
Yay! Pips for everyone!
  • #562,843
  • Nov 16, 2011 11:21am Nov 16, 2011 11:21am
Quoting stevefx
Sold that one..
I'm out for 28, hit my target. Need some sleep. Safe trades.
  • #562,844
  • Nov 16, 2011 11:22am Nov 16, 2011 11:22am
Quoting stevefx
I'm out for 28, hit my target. Need some sleep. Safe trades.
Cheers Steve, good night!
Quant Hedge Fund CEO
  • #562,845
  • Nov 16, 2011 11:22am Nov 16, 2011 11:22am
Quoting FXMastermind
Covered for 30, oversold + oscillators turning + bottom of that rising channel not properly penetrated...

Saw the same thing got in @ 46 only took 23 pips. Nice way to end my day.


Not quite where Geppy and Cloggie are at using SR+fibs, but use oscillators on 5 &15 charts to confirm for scalps like this.
  • #562,846
  • Nov 16, 2011 11:23am Nov 16, 2011 11:23am
Quoting FXMastermind
Covered for 30, oversold + oscillators turning + bottom of that rising channel not properly penetrated...
you are doing good. it was nice short scalping.
As Above, So Below
  • #562,847
  • Nov 16, 2011 11:25am Nov 16, 2011 11:25am
Quoting tashkent
you are doing good. it was nice short scalping.
Not as good as Barbie, but doing my best!

Thanks a lot, I appreciate it...
Quant Hedge Fund CEO
  • #562,848
  • Nov 16, 2011 11:27am Nov 16, 2011 11:27am
Quoting njfx
Saw the same thing got in @ 46 only took 23 pips. Nice way to end my day.


Not quite where Geppy and Cloggie are at using SR+fibs, but use oscillators on 5 &15 charts to confirm for scalps like this.
This one was confirmed by SR, fibs, pivs, oscillators AND HUGE divergences...

I mean - what else could you possibly want ?

Gratz, well done, 23 pips is a great result from this move, you donīt always have to catch the top and bottom...

Quant Hedge Fund CEO
  • #562,849
  • Nov 16, 2011 11:30am Nov 16, 2011 11:30am
I believe an H&S pattern has formed on the 5min chart?....
Enter Signature
  • #562,850
  • Nov 16, 2011 11:35am Nov 16, 2011 11:35am
Does anyone else use the 1min and 4hour charts on Scalping, i have found them to work ok for me but there are days i find myself pulling my hair out. Anyone got any suggestions?
  • #562,851
  • Nov 16, 2011 11:40am Nov 16, 2011 11:40am
I've looked at this "Goldman trade", the one that was reported here on the news reel.
Here's a link to those news sources and a couple of charts to take a look at this trade.


Goldman Issues 1.40 Price Target On EURUSD

http://www.zerohedge.com/news/goldma...-target-eurusd

11/11/2011 10:43 -0500

-----------------------------------

EUR-USD Rollercoaster Goes Down As The Goldman Stop Losses Are Triggered

http://www.forexfactory.com/news.php...highlight=stop

Posted Nov 15, 2011 9:07pm

------------------------------------

So, about 4 or 5 days it took.

And that includes a weekend. Because, this trade was apparently entered on a late Friday rally.
Not the way I would trade. In fact, this trade was so 'tarded, that I do not believe they even took the trade.
They were probably short the whole time.

Here, the Daily chart doesn't look too great to me. But, GS thought that this particular trade was so great that they would announce it for all to see.

Next, the 8 Hour chart. There is just no way that I would go on a forum and make a loud attempt to show off my trading skills with a setup like that.

GS = BS.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EuroChartDay.JPG Size: 64 KB
Click to Enlarge Name: EuroChart8Hr.JPG Size: 65 KB
  • #562,852
  • Nov 16, 2011 11:50am Nov 16, 2011 11:50am
Thx for those who long this.

Ok I am cocky, but I dont care as long as I am profitable.

edit: I am glad I am not alone.
Quoting stevefx
Sold that one..
1 more edit: We could use a marubozu H1 now, couldnt we?

Gz.

T.
Attached Image (click to enlarge)
Click to Enlarge Name: m1.gif Size: 27 KB
"I know one thing, that I know nothing." Sokrates
  • #562,853
  • Nov 16, 2011 11:52am Nov 16, 2011 11:52am
Quoting Mrgreener
I believe an H&S pattern has formed on the 5min chart?....
I see the same on 1 min and 5 min chart. But if you take a look at the 4 hour chart, it shows an H&S too, and seems bearish to my, while those 2 other shows bullish. I'm not good at analysis, but I would rather choose to short and not long. But this is my view, maybe the other people see it other way.
Bear the bull's consequence...
  • #562,854
  • Nov 16, 2011 11:56am Nov 16, 2011 11:56am
Quoting Tom_D_Trader
Thx for those who long this.

Ok I am cocky, but I dont care as long as I am profitable.

.

No need to worry Tommy D. Barbie is going to find a job as a broker's stooge spamming threads to drive the noobies in the wrong direction, if he isn't already and the invincible kid who is so darn consistent that he has blown up 35 accounts in a row, is really busy bottling his ineptitude to flog to GS, that should keep him in jellybabies for life......

I don't think that they allow jellybabies in the rubber room, I just didn't have the heart to tell him.....
  • #562,855
  • Nov 16, 2011 11:58am Nov 16, 2011 11:58am
My little turdpokingstick has gotten some good use today......
  • #562,856
  • Nov 16, 2011 11:59am Nov 16, 2011 11:59am
Quoting Tom_D_Trader
Thx for those who long this.

Ok I am cocky, but I dont care as long as I am profitable.

edit: I am glad I am not alone.


1 more edit: We could use a marubozu H1 now, couldnt we?

Gz.

T.
From curiosity, what's your TP ?
  • #562,857
  • Nov 16, 2011 12:00pm Nov 16, 2011 12:00pm
EU tries to form a higher low trend line on hourly chart so i will attempt to long it at 3482 level with 30 pips s/l (this is very risky so i will only trade 0.01 lot).
I also believe any bounce toward to 3650-3700 level is a good opportunity to short for the rest of this month.
  • #562,858
  • Nov 16, 2011 12:05pm Nov 16, 2011 12:05pm
based on H8 chart there is possibiltey of going to 1.36. The bear is not aggresive
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 24 KB
  • #562,859
  • Nov 16, 2011 12:06pm Nov 16, 2011 12:06pm
Quoting Yuchen
I think 3604 is another small resistence before 3650. It is 50% fibonachi retracement for this week's range and it is also 20 MA for 4H chart (I usually analyze it by 1H, 4H and daily chart).
Like I said... each fib retracement zone should be watched carefully.
check out my blog: forexmademillionaire dot com
  • #562,860
  • Nov 16, 2011 12:06pm Nov 16, 2011 12:06pm
Quoting catalicu
From curiosity, what's your TP ?
3495 is first level, but I am swing trader, so I am just building short positions for a downfall. It depends on PA. If it is going to shoot up from there, I am booking at BE and targeting new high. If it breaks down, I am going to open port.
"I know one thing, that I know nothing." Sokrates
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