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  • #588,401
  • Jan 26, 2012 12:19am Jan 26, 2012 12:19am
Sell at 1.3120 and small at 1.3170 sl 1.33 tp 1.3010-1.2910-1.2840 RRR 1:5
Attached Image (click to enlarge)
Click to Enlarge Name: bearish divergence EU 26-01-2012.png Size: 80 KB
"We can't predict the future.But we can create it."
  • #588,402
  • Jan 26, 2012 12:19am Jan 26, 2012 12:19am
Quoting Chicky
Fear and greed, nothing else. Fear of losing a trade, fear that a profitable trade may turn into a loser, fear that market will snatch back gains made,......... and thousand other types of fears. Opposite is true for greed.

Problem of greed is and will be there. But I have a solution that made me a fearless trader. That is, Keep Your Positions Small. If you are not risking much per trade, your trading won't be affected by fears.
I have also experienced this: if my position is small, so is the fear. But the greed lurking inside us keeps pushing us to switch to bigger positions. Resisting that requires discipline and self control.
Better get rich slowly rather than going broke fast.
  • #588,403
  • Jan 26, 2012 12:19am Jan 26, 2012 12:19am
Not sure we will see much movement in the next few hours as market waits for US unemployment number.
  • #588,404
  • Jan 26, 2012 12:23am Jan 26, 2012 12:23am
Quoting Nachiket
anybody wants to join me

I wish it was going to be as easy as that, but this is a complicated area with significant price points to watch.

If 1.3150 gives then we are odds on to see 1.322x.
If 1.3050 gives then we could easily see 1.293x

I closed my short in favour of a small long

So I have pendings now below 1.3090 and above 1.3150.
  • #588,405
  • Jan 26, 2012 12:23am Jan 26, 2012 12:23am
Quoting happytrader
i can't remember who (on ff) told me it's best not to trade at Frankfurt and london open. good advice indeed.

futures and fx are all messed up during those openings.
Depends on your strategy. I look for breakouts so London opening suits me fine. Can be volatile so you need a generous SL.
  • #588,406
  • Jan 26, 2012 12:24am Jan 26, 2012 12:24am
Quoting mohan76
if you want to trade fanky you have to watch dax closely , (on 2nd trade , i got burn too )
lol, you'll make it back soon, don't worry my friend.

ya, my first trade was ... a loss as well. traded at franky open.. lol.

looks like euro is going to break 3120.
  • #588,407
  • Jan 26, 2012 12:25am Jan 26, 2012 12:25am
results @10:30 GMT.

this ride on the downside is meeting some resistances.
  • #588,408
  • Jan 26, 2012 12:27am Jan 26, 2012 12:27am
Quoting MaxDoom
I wish it was going to be as easy as that, but this is a complicated area with significant price points to watch.

If 1.3150 gives then we are odds on to see 1.322x.
If 1.3050 gives then we could easily see 1.293x

I closed my short in favour of a small long

So I have pendings now below 1.3090 and above 1.3150.

ok but why you closed. we could have been in profit. this is just correction.
  • #588,409
  • Jan 26, 2012 12:30am Jan 26, 2012 12:30am
Quoting Nachiket
ok but why you closed. we could have been in profit. this is just correction.

rejection @ 94 again


not strongly convinced of either direction so not going to hold thru drawdown, took a few points and moved on.
  • #588,410
  • Jan 26, 2012 12:34am Jan 26, 2012 12:34am
Quoting MaxDoom
rejection @ 94 again


not strongly convinced of either direction so not going to hold thru drawdown, took a few points and moved on.
but then there was a rejection at 1.3134 also. didn't you watch that and again we are riding down from 1.3127. i suspect some strong hands came into sell @1.3127.
  • #588,411
  • Jan 26, 2012 12:35am Jan 26, 2012 12:35am
Waiting that spike targeting 1.3145/50. But seems pair stucked in range trading on hourly basis.

Break of 55 in early session invalidates short from my point of view.
They think they are smarter than I am.
  • #588,412
  • Jan 26, 2012 12:38am Jan 26, 2012 12:38am
Quoting Z3iz3i
Waiting that spike targeting 1.3145/50. But seems pair stucked in range trading on hourly basis.

Break of 55 in early session invalidates short from my point of view.

completely agree that gives a good setup for 1.322x

and equally a rejection gives a good short opportunity.
  • #588,413
  • Jan 26, 2012 12:42am Jan 26, 2012 12:42am
Quoting Nachiket
but then there was a rejection at 1.3134 also. didn't you watch that and again we are riding down from 1.3127. i suspect some strong hands came into sell @1.3127.

we are in consolidation mode here could still go either way.
  • #588,414
  • Jan 26, 2012 12:46am Jan 26, 2012 12:46am
past few nights around this time there has been a lot of false moves. I've taken a few losses because of it ( breakouts /pattern setups ).

Not enjoying this session as much as I used to.
  • #588,415
  • Jan 26, 2012 12:48am Jan 26, 2012 12:48am
Quoting MidasFX
past few nights around this time there has been a lot of false moves. I've taken a few losses because of it ( breakouts /pattern setups ).

Not enjoying this session as much as I used to.

I completely agree. This is a good setback for starters like me. After all the research and Analysis...BOOM!!! Ouch !
  • #588,416
  • Jan 26, 2012 12:55am Jan 26, 2012 12:55am
Quoting KiwiTrada
whoah this is not good atitude -

Firstly trading is definitely not get rich quick scheme, takes much research, analysis, testing, retesting, stuff you understand work with, stuff you dont understand dump, dont over complicate, be patient, best foundation good mm rr, every trade need be thoroughly assessed, plan your trade, trade you plan, cold, clinical, no emotion, no distraction, get to here you ready to enter your first trade is 5 to 10 000 chart hrs, and microlots you ready to enter your 1st real trade.
Second, I am employer, 103 staff,...


you are the boss...
  • #588,417
  • Jan 26, 2012 12:56am Jan 26, 2012 12:56am
Been long at 3124...going for 3150 range. Think London will go for high around 63 area...and the US market will take it donw. Just my take based on pivots and ADR analysis.We will see....Not a big fan of drawdowns either MaxDoom....but here I am....lol
  • #588,418
  • Jan 26, 2012 12:56am Jan 26, 2012 12:56am
Quoting pips.hunter
entered short at 1.3040 waiting for 1.2952 first
Was achieved +++88 pips
"We can't predict the future.But we can create it."
  • #588,419
  • Jan 26, 2012 12:57am Jan 26, 2012 12:57am
Quoting pips.hunter
Eurusd is going for big correction upward...and it is possible because many traders got stuck with their shorts at 1.2680 ...and they are hoping for downturn ..surely they will add shorts at each rally and price will never fall till their accounts got squeezed and blown away...thats forex..yesterday MIG bank gave short at 1.2680 with sl 1.2850 really big sl ....and i m sure lot of traders made same mistake thats y ppl. earn on other table...btw my long targets are 1.2910-1.2920-1.2965...

all together 150 +++pips
"We can't predict the future.But we can create it."
  • #588,420
  • Jan 26, 2012 12:59am Jan 26, 2012 12:59am
Short Entry 1.3131
Exited trade at 1.3105 with a smaller profit than planned. Looks like the price might go either way with the current wedge shape formation.
'For the market to work, it needs people who think that they can beat it.'
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