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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #19,081
  • Jan 12, 2012 8:48am Jan 12, 2012 8:48am
Quoting theIEguy9_09
Imo easiest short trades on the 5min chart....look for possible high or turn point....to short...green candle followed by red candle....now put a trendline on the low wick of the red candle and if price passes the bottom of your trendline go short...my targets are typically 5pips but you can do whatever floats your boat.
Not sure I get it. Where's the second point of your trendline at?
I observe your reality but live my own.
  • #19,082
  • Jan 12, 2012 8:49am Jan 12, 2012 8:49am
Ok price trading in my in-decision zone with the [email protected]'s wait and see what happens...new 1hr bar coming shortly
  • #19,083
  • Jan 12, 2012 8:50am Jan 12, 2012 8:50am
Quoting Cgb
Not sure I get it. Where's the second point of your trendline at?
3 candle set up...after long wait for green,red, put a trendline at the low wick on the second (red) candle....look at the opposite on 5min chart....red,green.....
  • #19,084
  • Jan 12, 2012 8:52am Jan 12, 2012 8:52am
Quoting Cgb
Not sure I get it. Where's the second point of your trendline at?
Also, if you're scalping for 5 pips? What's do you set your stop loss at? Also, what's your spread on the EUR/USD?

Thanks.
I observe your reality but live my own.
  • #19,085
  • Jan 12, 2012 8:53am Jan 12, 2012 8:53am
Quoting theIEguy9_09
3 candle set up...after long wait for green,red, put a trendline at the low wick on the second (red) candle....look at the opposite on 5min chart....red,green.....
I observe your reality but live my own.
  • #19,086
  • Jan 12, 2012 8:53am Jan 12, 2012 8:53am
Quoting Cgb
Also, if you're scalping for 5 pips? What's do you set your stop loss at? Also, what's your spread on the EUR/USD?

Thanks.
Not scalping....trading....scalpers are randomly clicking buy and sell hoping for profits...every move I make is timed and calculated according to plan....pm me further questions
  • #19,087
  • Jan 12, 2012 8:56am Jan 12, 2012 8:56am
Quoting Cgb
Took same trade at 1.2774 ... Looks like it was the wrong one
I had a Stop at 1.28059 and I also scale in my positions so I put on a second trade at 1.2791 and I am out now with a profit and I put in another trade short at 1.27994 at 9:36 AM and I took a $99.00 profit there and now I am FREE to short again being all in cash. I might short if it does not go over 1.2825

If it goes over I will consider a new Trade Plan.

I hope this clarifies my trading style.
  • #19,088
  • Jan 12, 2012 8:56am Jan 12, 2012 8:56am
Wait for the bulls to finish....price hitting desirable areas of my supply zone.
  • #19,089
  • Jan 12, 2012 9:01am Jan 12, 2012 9:01am
If you do not know about this please ask The Swede...

We had movement because of this and more short covering. Scalping is good however not to get 5 PIPS. I do this however I have a Trade Plan with Stops and Limit Out.

Europe Goes home at 11:30 AM EST and more certain at NOON.

Option Expiry is over now. Business Inventories Up at 10:00 AM EST

Dow is Flat and Draghi sees Stabilization in Eurozone. Yeah Right !!!
  • #19,090
  • Jan 12, 2012 9:02am Jan 12, 2012 9:02am
Short @ 1.2820
  • #19,091
  • Jan 12, 2012 9:03am Jan 12, 2012 9:03am
Quoting rekon67
Short @ 1.2820
Attached Image
  • #19,092
  • Jan 12, 2012 9:04am Jan 12, 2012 9:04am
Quoting knoholygrail
I had a Stop at 1.28059 and I also scale in my positions so I put on a second trade at 1.2791 and I am out now with a profit and I put in another trade short at 1.27994 at 9:36 AM and I took a $99.00 profit there and now I am FREE to short again being all in cash. I might short if it does not go over 1.2825

If it goes over I will consider a new Trade Plan.

I hope this clarifies my trading style.
Not that I'm doubting you but I don't get it... You took a short at 1.2774 with a stop at 1.2805, you added to your short at 9:36 with 1.27994, price continued to go up and you got stopped out at 1.2805 ... With a profit of $99? Please explain that to me...

Were you long instead?
I observe your reality but live my own.
  • #19,093
  • Jan 12, 2012 9:05am Jan 12, 2012 9:05am
Quoting rekon67
nah... bulls are aiming high ..
  • #19,094
  • Jan 12, 2012 9:05am Jan 12, 2012 9:05am
Quoting rekon67
It was a perfect entry and trade if you exited.....price dipped 20pips from high
  • #19,095
  • Jan 12, 2012 9:07am Jan 12, 2012 9:07am
No reason for short am personaly atm,the correction just begin Imo
If there was easy money lying around,no one would be forcing it into your
  • #19,096
  • Jan 12, 2012 9:10am Jan 12, 2012 9:10am
Quoting Cgb
Not that I'm doubting you but I don't get it... You took a short at 1.2774 with a stop at 1.2805, you added to your short at 9:36 with 1.27994, price continued to go up and you got stopped out at 1.2805 ... With a profit of $99? Please explain that to me...

Were you long instead?
I shorted at 9:28 AM at 1.2791 and closed it at 9:42 AM at 1.27857 for $53.00 US and my other position was PUT on at 1.27994 at 9:36 AM and I closed it at 9:41 AM at 1.27895.

I get in very fast and out because I know certain things are ahead like Option Expiry at 10:00 AM EST and Business Inventory at 10:00 AM EST and other factors. I hope you understand now.
  • #19,097
  • Jan 12, 2012 9:14am Jan 12, 2012 9:14am
Over bought yet ? Or Fx is right?
  • #19,098
  • Jan 12, 2012 9:17am Jan 12, 2012 9:17am
Quoting theIEguy9_09
Wait for the bulls to finish....price hitting desirable areas of my supply zone.
After I said that....18pip dip...another high hit and another 25pip dip....all I would of wanted was 5pips....good day folks...I need a nap...we are in my in-decision zone with the high@2839
  • #19,099
  • Jan 12, 2012 9:19am Jan 12, 2012 9:19am
Quoting rekon67
Over bought yet ? Or Fx is right?
Looks good atm...wht do u say?
Attached Image (click to enlarge)
Click to Enlarge Name: EU.PNG Size: 21 KB
  • #19,100
  • Jan 12, 2012 9:21am Jan 12, 2012 9:21am
Quoting rekon67
Over bought yet ? Or Fx is right?
With that last move up, everything is pretty much out of balance now so it should go into a consolidation period. Many times this period will move price in the opposite direction from where it peaked, but not always a lot. Because of this consolidation it will relieve some of the over bought pressure. Also becuse it's out of balance this is more than likely the extent of any corrective move up for the time being.
Mark ... Everything you have been told is a LIE
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