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EurAnalysis Kindergarten 24 replies

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  • #12,021
  • Nov 25, 2011 5:08am Nov 25, 2011 5:08am
Quoting michaelnew
Now, that I entered a short at 1.3248, I can seriously bet it will finally reverse and head up. All my longs are closed, of course...
got to learn to short on a swing high that is showing signs of weakness and buy on a swing low that is showing signs of strength.
Kill the ego, or it will kill the mission.
  • #12,022
  • Nov 25, 2011 5:10am Nov 25, 2011 5:10am
Quoting PipTrapper
Thanksgiving was yesterday. Today is Black Friday. If today is good for anything, it should be good for the USD
My understanding is that the thanksgiving rally can be either Wednesday or Friday and that black friday was a time of excessive consumerism.
Kill the ego, or it will kill the mission.
  • #12,023
  • Nov 25, 2011 5:11am Nov 25, 2011 5:11am
Quoting AaronWard
Tom I like your artwork...
Thx man, I am glad you liked it.

Anyway, I aint entering any shorts as well. I am still afraid of US holliday intervention + short squeeze + profit taking + friday. So I am just sitting and enjoying my shorts from far above getting more and more green pips.

T
"I know one thing, that I know nothing." Sokrates
  • #12,024
  • Nov 25, 2011 5:11am Nov 25, 2011 5:11am
Quoting AaronWard
got to learn to short on a swing high that is showing signs of weakness and buy on a swing low that is showing signs of strength.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,025
  • Nov 25, 2011 5:13am Nov 25, 2011 5:13am
Quoting Tom_D_Trader
Thx man, I am glad you liked it.

Anyway, I aint entering any shorts as well. I am still afraid of US holliday intervention + short squeeze + profit taking + friday. So I am just sitting and enjoying my shorts from far above getting more and more green pips.

T
depending on how today goes, I may place my traditional small short just before market close for a weekend gap down.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,026
  • Nov 25, 2011 5:15am Nov 25, 2011 5:15am
Quoting michaelnew
he he, what did I just tell you, heading up. Took some time to feel my short and now she's of course running away from it. Shaping markets in the opposite direction is such a funny thing to do on a Friday...
Don't worry. You are trading with the trend.. down. Patience.
Since you allowed 4 buy orders to take you for a scuba lesson of a lifetime, I am sure you can bear to be a bit underwater until this small corrective pullback to 1.3255 completes.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,027
  • Nov 25, 2011 5:17am Nov 25, 2011 5:17am
Quoting PipTrapper
Don't worry. You are trading with the trend.. down. Patience.
Since you allowed 4 buy orders to take you for a scuba lesson of a lifetime, I am sure you can bear to be a bit underwater until this small corrective pullback to 1.3255 completes.
thanks, I really appreciate it And that was a hell of a lesson, indeed. And there were more than 4 longs, by the way 4 longs would have been just a snorkeling, instead, I went all the way down to the Marianas Trench
  • #12,028
  • Nov 25, 2011 5:17am Nov 25, 2011 5:17am
Rekon,

I'm assuming you got your order filled. What is your profit target & why? or do you watch the market to decide?
  • #12,029
  • Nov 25, 2011 5:24am Nov 25, 2011 5:24am
Quoting conexer
Rekon,

I'm assuming you got your order filled. What is your profit target & why? or do you watch the market to decide?
For Friday Closing my target is retrace back to 1.33xx.

Why ? It is already I stated on the post I made earlier today ..because of Friday Position Closing on a bearish Market and all.
  • #12,030
  • Nov 25, 2011 5:25am Nov 25, 2011 5:25am
Opinion on sale,
My 1 cent, will sit on my hands at these levels, letting it ride.
Will wait to see if the very obvious 1.3145 support holds or breaks.

Very informative posts everybody.
  • #12,031
  • Nov 25, 2011 5:30am Nov 25, 2011 5:30am
Quoting foto
Very informative posts everybody.
Hahaha
"I know one thing, that I know nothing." Sokrates
  • #12,032
  • Nov 25, 2011 5:33am Nov 25, 2011 5:33am
Quoting rekon67
For Friday Closing my target is retrace back to 1.33xx.

Why ? It is already I stated on the post I made earlier today ..because of Friday Position Closing on a bearish Market and all.
I see it now
  • #12,033
  • Nov 25, 2011 5:38am Nov 25, 2011 5:38am
Ah 3197,8 is so close. That is the daily close of 3rd Oct. Heavy support. Below is only 3146,2 low at 4th Oct and down there lurks oblivion.

Edit: I think I may book one position in there.
"I know one thing, that I know nothing." Sokrates
  • #12,034
  • Nov 25, 2011 5:40am Nov 25, 2011 5:40am
I like that, oblivion. Today is field day for the bear it seems.

EDIT: The pullbacks look more violent now, interesting.

Quoting Tom_D_Trader
Ah 3197,8 is so close. That is the daily close of 3rd Oct. Heavy support. Below is only 3146,2 low at 4th Oct and down there lurks oblivion.

Edit: I think I may book one position in there.
  • #12,035
  • Nov 25, 2011 5:48am Nov 25, 2011 5:48am
Quoting jeff_b
I like that, oblivion. Today is field day for the bear it seems.

EDIT: The pullbacks look more violent now, interesting.
At these levels many bears will be locking in profits. Not surprisingly. I doubt the bulls are ready to risk getting burned though.

ADD: I've got my barbecue all set up with a brand new burner though. I'll be eating steaks this weekend
Those who say it cannot be done should not interrupt those who are doing it
  • #12,036
  • Nov 25, 2011 5:49am Nov 25, 2011 5:49am
Tom,
If nothing else, in a market move such as we are experiencing the market internals are fully exposed.
For future reference how price appears and the pattern of action is worth logging away in the deepest recesses of the mind.

If you see it, do you know it, that is a question that can be answered for years to come. It has to be lived thru first, so what a great learning experience this particular move has provided.

So far it has been a really relentless Bear. The power of the move, just this seemingly endless selling pressure does paint a picture worth remembering.
  • #12,037
  • Nov 25, 2011 5:58am Nov 25, 2011 5:58am
Quoting foto
So far it has been a really relentless Bear. The power of the move, just this seemingly endless selling pressure does paint a picture worth remembering.
foto,
I believe this is just the beginning. No, I am not suggesting this is a Lehman type crash but the characteristics are very similar to the calm before that big storm of 2008... creeping ever so slowly towards the cliff edge.
Yep Aaron got it right. It is spooky.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,038
  • Nov 25, 2011 6:01am Nov 25, 2011 6:01am
15 minute chart suggests weakening selling pressure to sideways market now, bears on hold, minor bull scalps possible
  • #12,039
  • Nov 25, 2011 6:05am Nov 25, 2011 6:05am
that is for today, closed that short at BE, don't like what I see at all (not to mention I don't like how I traded this week). Logging out of the markets for the weekend, have a good one

Enjoy your barbecue PT
  • #12,040
  • Nov 25, 2011 6:07am Nov 25, 2011 6:07am
Quoting michaelnew
that is for today, closed that short at BE, don't like what I see at all (not to mention I don't like how I traded this week). Logging out of the markets for the weekend, have a good one

Enjoy your barbecue PT
Thanks Michael. Enjoy your weekend
Those who say it cannot be done should not interrupt those who are doing it
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