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  • #577,941
  • Dec 27, 2011 5:53am Dec 27, 2011 5:53am
Quoting caonguyen
hi dean1star
why do you chose sell EU?
and how is take profit with stop loss?
regard you
well top rejected and also sell position carries a range of 30 pips, to hold position usually comes back in to follow the trend down for the day, if that makes any sense,
  • #577,942
  • Dec 27, 2011 5:55am Dec 27, 2011 5:55am
took the position at 130 785 which is 30 pips off a 00 line thats 131 so seems a good trade to carry downwards lets see
  • #577,943
  • Dec 27, 2011 5:56am Dec 27, 2011 5:56am
Quoting rattyo
you have plenty of questions, remember these markets are more or less closed.
thank for you...i starting learn forex. foward to receive your help!!! i use google translate..it 's dont correct syntax!!
  • #577,944
  • Dec 27, 2011 6:00am Dec 27, 2011 6:00am
Quoting caonguyen
thank for you...i starting learn forex. foward to receive your help!!! i use google translate..it 's dont correct syntax!!
tough game caonguyen if it helps the turning point in trading is that moment when u blow ur account then u see where u were going wrong.. will shout on the flip side for the next buy looks like down trend is hitting its marc.
  • #577,945
  • Dec 27, 2011 6:00am Dec 27, 2011 6:00am
Quoting mohan76
possible reason could be 80/82 so far holding so he/she expected rejection here. Please read about support and resistant.

check out
http://www.babypips.com/school/
first thank mohan
babypips is very great...
i will alway appear this thread...learn more anything from everyboy
  • #577,946
  • Dec 27, 2011 6:05am Dec 27, 2011 6:05am
Quoting dean1star
tough game caonguyen if it helps the turning point in trading is that moment when u blow ur account then u see where u were going wrong.. will shout on the flip side for the next buy looks like down trend is hitting its marc.
yes...i think forex dont gambling...it can practice hard .. i already use account demo about two month. not yet do for real money!!
regard you
  • #577,947
  • Dec 27, 2011 6:09am Dec 27, 2011 6:09am
practice makes perfect - even if they tbuy back on this trade its still worth holding the position for 30 pips out however lets see ..131 seems to be the max .. however .. u never know ..
  • #577,948
  • Dec 27, 2011 6:18am Dec 27, 2011 6:18am
Quoting dean1star
practice makes perfect - even if they tbuy back on this trade its still worth holding the position for 30 pips out however lets see ..131 seems to be the max .. however .. u never know ..
ok ...i dont understand "tbuy"!! what 's mean? i promise advance english in the next month..i will understand you say what
best regard
  • #577,949
  • Dec 27, 2011 6:21am Dec 27, 2011 6:21am
in this instance to take back what it is they have already given, also remember close to the 00 line if the top is rejected then on the 30 min chart keep an eye on the next candle usually a good marker for a down.. or an up depending on direction .. outta here its still christmas well almost and good luck will keep this trade running now for a few hours or so
  • #577,950
  • Dec 27, 2011 6:37am Dec 27, 2011 6:37am
Quoting dean1star
took the position at 130 785 which is 30 pips off a 00 line thats 131 so seems a good trade to carry downwards lets see
That is an interesting idea. Presumably you have a 30 pip stop. If you go for a 1:1 risk reward which is not my favorite, your target is down at 1.30485. One way of playing this might just be to go for a risk:reward of 2:1 thus you risk 30 pips to make 15 pips. There is a creditable school of thought that does teach this - even though it is not for me. Had you adopted this strategy you would be at your take profit.

For me, this is a difficult market and I am just standing aside in the hope that the New Year might bring some price action to compensate for this lull. I would only be tempted if we saw a rush back to the 1.32000 level followed by proper reversal candle. I missed shorting the earlier trip to that level which is a shame.
  • #577,951
  • Dec 27, 2011 6:40am Dec 27, 2011 6:40am
Different source:

USD is little changed as markets continue to trade in a narrow range. European equities are higher by about 0.5% and the relative strength winner is CHF. US consumer confidence & housing prices are due. Link to latest Premium trades is found below.

The only fundamental news out of Europe this morning was Swiss UBS consumption indicator that fell in November to 0.81 from previous 0.9. The Franc sold on the news but quickly recovered its losses and is currently trading stronger against the EUR and the USD as well. EURCHF trades right above 1.22 support while USDCHF trades near 0.9330.

An interesting development came yesterday when China and Japan unveiled a currency deal that allows their companies to exchange Chinese currency Yuan directly into Japanese Yen without having to use USD in the process. This step will cut costs between two major Asian economies, boost trade and strengthen Yuan's global role. It will also allow Japanese firms to raise a debt that is denominated in Chinese Yuan (CNY). CNY closed today at 6.3223 against the USD, slightly lower compared to Monday's 6.3198.

Pressure on periphery bonds is reappearing again as Italian 10 year yield moved back above 7% and reached 7.14% high. Italian-German spread reached 5.20% high before pulling back to 5.14%.
Beauty awakens the soul to act. Dante Alighieri
  • #577,952
  • Dec 27, 2011 6:50am Dec 27, 2011 6:50am
Quoting ChristopherM
That is an interesting idea. Presumably you have a 30 pip stop. If you go for a 1:1 risk reward which is not my favorite, your target is down at 1.30485. One way of playing this might just be to go for a risk:reward of 2:1 thus you risk 30 pips to make 15 pips. There is a creditable school of thought that does teach this - even though it is not for me. Had you adopted this strategy you would be at your take profit.

For me, this is a difficult market and I am just standing aside in the hope that the New Year might bring some price action to compensate...
seems to work in most market conditions, and ur right could take profit at first target but playing a slightly longer game here if that makes sense, 30 min chart usually worth keeping an eye on around the 00's that said always carry 30 pips to be against you just in case..
  • #577,953
  • Dec 27, 2011 7:47am Dec 27, 2011 7:47am
Boring market...
  • #577,954
  • Dec 27, 2011 7:48am Dec 27, 2011 7:48am
Quoting rattyo
you have plenty of questions, remember these markets are more or less closed.
Ahh ... no no no ...

It's not closing time ...





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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #577,955
  • Dec 27, 2011 7:51am Dec 27, 2011 7:51am
It appears to me that from the lack of volume and thin market conditions that the normal PA of EU that moves in beats of 20 to 40 that EU is currently moving in beats of 5 to 10. The currant range is 3060 to 3070 with 3055 and 3075 on the outside edge. With a small NY volume coming in and London going out we might see a small break of either top side or bottom by 20 Pips or so. 3090 or 3030? A target of 3100 is not out of the question. Does anyone see anything simular or have other ideas? I am not one to like to trade these thin conditions except to scalp 3 or 4 pips here and there. Risk is greater than reward however.
  • #577,956
  • Dec 27, 2011 8:03am Dec 27, 2011 8:03am
will be broken by 4pm. good take up of italian bonds,shorters closing posistions and by jan 4th 1.34000. get in whilst you can.
  • #577,957
  • Dec 27, 2011 8:12am Dec 27, 2011 8:12am
As most participatiants did try to trade it to the downside the major risk is set for a limited breakout pattern to the upside ...

2011-12-27 _ (14h55 CET) EUR-USD _ 060min _ 001 candlestick 300-507-30

We can do some waiting games ...

There is still some minor Elliott projection at around 1.2990 which has not been ideally taken out until now ...




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Attached Image (click to enlarge)
Click to Enlarge Name: 2011-12-27 _ (14h55 CET) EUR-USD _ 060min _ 001 candlestick 300-507-30.GIF Size: 46 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #577,958
  • Dec 27, 2011 8:13am Dec 27, 2011 8:13am
Guys , currency market is dead at the moment but here is a friendly advise .... BUY the gold !!!!!!!! At 1597.00 !!!!!!!! Target 1606.00 !!!
Human
  • #577,959
  • Dec 27, 2011 8:19am Dec 27, 2011 8:19am
last year between christmas and ny there was heavy trading at least in the eur/usd.

why is there such a big difference? i also remember a lot more volatility from former years between the holidays...
  • #577,960
  • Dec 27, 2011 8:38am Dec 27, 2011 8:38am
come 3pm GMT it will start.subdued on italian bond auction but us 3pm news should kick start the forward momentum.
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