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  • #596,221
  • Feb 16, 2012 3:41pm Feb 16, 2012 3:41pm
To all experts here,

Many traders have covered their shorts today from the greek deal good news, thus pushing the eur/usd up.

Some may have been buying also.

So how will the price move after this? Will need to wait for another good/bad news?
  • #596,222
  • Feb 16, 2012 3:47pm Feb 16, 2012 3:47pm
went to sleep and woke up to some green pips banked in when 5 of my positions hit TP. My hunch was correct that the Greek Saga still has a bit more leg to it when I loaded up on the last dip.

Still contemplating when to go in now (already doubled my weekly target) or to stay the hell out until next Monday.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #596,223
  • Feb 16, 2012 3:57pm Feb 16, 2012 3:57pm
Quoting turmaz
i ve been shorting since 1.3055 level i dont know what to doooo???
im very scared and em loosing money i shorted again at 1.3150
my heart beat bumping in my chest very hard and with every pip gain im gettin fainted im in big pain

some body help...
plsease...
where it's paining!!
Daytrader
  • #596,224
  • Feb 16, 2012 3:59pm Feb 16, 2012 3:59pm
Quoting sidhujag
Hi Mercy,

you said it should pop up, and in the long run a correction up towards 34xx is expected, but what is your analysis saying about after this popup to 3156.. where is the target before correcting again?
Daily Key ... is MASTER KEY ... and it is the safest way to judge it on a day to day basis ...

Weekly and Monthly is nice as well ...

But it is just another additional kind of a prospective ...

###

Lower timeframes do determine the higher time frames ... and not vice versa ...



And all these mentioned keys ... they are a changing after a day has been done ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #596,225
  • Feb 16, 2012 4:06pm Feb 16, 2012 4:06pm
Was spiked into a hedge just a while ago, as the price spiked above 1.3150. Not that I'm panicking just yet. Would just like it to spike me back OUT of it rather than range before plummeting down again!

I can't see it rallying much further to be honest!

What's the outlook for Friday's session, anyone?
I'm just a small fish in a large pond; forever swimming against the tide.
  • #596,226
  • Feb 16, 2012 4:10pm Feb 16, 2012 4:10pm
Quoting turmaz
i ve been shorting since 1.3055 level i dont know what to doooo???
im very scared and em loosing money i shorted again at 1.3150
my heart beat bumping in my chest very hard and with every pip gain im gettin fainted im in big pain

some body help...
plsease...
Someone get this gentleman a Doctor.

If it's any consolation Sir, we all feel your pain. Good Luck.
I'm just a small fish in a large pond; forever swimming against the tide.
  • #596,227
  • Feb 16, 2012 4:12pm Feb 16, 2012 4:12pm
Quoting rustyram
short EUR at 1.3135
SL at 1.3185

TP at 1.2890

This level is also the .618 retracement of the recent daily chart uptrend.

Once if the price reaches that level, i would enter Long targetting 1.3600

Good luck everybody
you short will probably work for a scalp, your tp is too large given the current market action, check D1 chart, i would tp between 3080 and 3088 on this trade.
  • #596,228
  • Feb 16, 2012 4:14pm Feb 16, 2012 4:14pm
Quoting turmaz
i ve been shorting since 1.3055 level i dont know what to doooo???
im very scared and em loosing money i shorted again at 1.3150
my heart beat bumping in my chest very hard and with every pip gain im gettin fainted im in big pain

some body help...
plsease...
hmmmm... have you ever heard of a stop loss?
  • #596,229
  • Feb 16, 2012 4:19pm Feb 16, 2012 4:19pm
lower high lower low
  • #596,230
  • Feb 16, 2012 4:29pm Feb 16, 2012 4:29pm
Quoting cammomile
hmmmm... have you ever heard of a stop loss?
Need to trade with stop losses imo, especially when shorting non-peak highs. I've tried and am not a big fan of averaging in, but that's me. I like trading a setup and if it gets stopped, trade the next setup. You could always backtest a few.

if it hits 3200, that would surpass the last high on the hourly and is todays R1 pivot, which means we'll probably have a higher retrace low in turn and going higher.

But I am short it with a short term TP of 1.3088, today's main pivot.
  • #596,231
  • Feb 16, 2012 4:31pm Feb 16, 2012 4:31pm
Quoting mahimahi
where it's paining!!
The next hourly support is only at 1.2975.

If it goes below 1.3098, you in for a treat....
Move your SL to BE, you will be safe....

Take a few deep breaths....
PPP - Patience Pays PIPS
  • #596,232
  • Feb 16, 2012 4:33pm Feb 16, 2012 4:33pm
Quoting turmaz
i ve been shorting since 1.3055 level i dont know what to doooo???
im very scared and em loosing money i shorted again at 1.3150
my heart beat bumping in my chest very hard and with every pip gain im gettin fainted im in big pain

some body help...
plsease...


that pain means you are wrong. the only thing to do when you are wrong is stop being wrong.

Cover your short and wait for a better entry point.
  • #596,233
  • Feb 16, 2012 4:35pm Feb 16, 2012 4:35pm
Quoting cammomile
you short will probably work for a scalp, your tp is too large given the current market action, check D1 chart, i would tp between 3080 and 3088 on this trade.
The hourly support is at 1.2970 last low. If the price start to retrace today uptrend, where would the price be supported. ?

My TP which is at 1.2890 which is also .618 retracement of the daily recent uptrend.

If this is the start of the new uptrend, then price has to pullback to .618%

Then i will establish long term LONG EUR at 1.2980 area with target as 1.3600
PPP - Patience Pays PIPS
  • #596,234
  • Feb 16, 2012 4:47pm Feb 16, 2012 4:47pm
None should short before Asia opens, pretty little gain or none
I am buying mode.

If price does not drop through 1.3120 or stays above 40/45 before open, it will test MOST likely Wed Asian market close at 64.

Those orders are there yet but if price cracks, it is soon at 1.32. A bit above at 1.32117 comes Nov 2011 low, would look shorts there. Otherwise if 64 blocks and no stops get triggered above, would short there.

Target would be through 20 to 1.3065 aroundbouts.
They think they are smarter than I am.
  • #596,235
  • Feb 16, 2012 4:55pm Feb 16, 2012 4:55pm
Entry 1.3150 area .... SL 1.3230 area .... Target 1.3055 area .... RR 1.2

1.297 may be the bottom of the current corrective down move or the pullback of the previous daily up trend swing from 1.26

Price may move higher fast because Feb 20 is likely day the minister's agree on bailout terms and release.

First support area of 1.3100 seem too little of a retracement but price may goes sideways between 1.3100 - 1.3150 or thereabouts. It is Friday and everyone waiting for Greece.

1.3110 is a good price to put stop @ BE. Don't hold over weekend.

Going to check price every hour - waiting for a cluster of 1H bars around 3150 and maybe another wick or two before jumping in.
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  • #596,236
  • Feb 16, 2012 4:57pm Feb 16, 2012 4:57pm
Quoting rustyram
The hourly support is at 1.2970 last low. If the price start to retrace today uptrend, where would the price be supported. ?

My TP which is at 1.2890 which is also .618 retracement of the daily recent uptrend.

If this is the start of the new uptrend, then price has to pullback to .618%

Then i will establish long term LONG EUR at 1.2980 area with target as 1.3600
with all due respect, the entry is not consistent with tp. you are shorting h1 swing high with the tp at d1 fib ret level. besides, there are many levels between your entry and your tp. what if the price reverses at a higher level, which is more likely due to today's price action and the news supporting it?
  • #596,237
  • Feb 16, 2012 5:00pm Feb 16, 2012 5:00pm
Quoting Z3iz3i
None should short before Asia opens, pretty little gain or none
I am buying mode.

If price does not drop through 1.3120 or stays above 40/45 before open, it will test MOST likely Wed Asian market close at 64.

Those orders are there yet but if price cracks, it is soon at 1.32. A bit above at 1.32117 comes Nov 2011 low, would look shorts there. Otherwise if 64 blocks and no stops get triggered above, would short there.

Target would be through 20 to 1.3065 aroundbouts.

Agree. Looking at those shooting star pattens wanted to short, however still hesitate, as IMO the rally wa not finished to the point. Personally looking for 68, but the difference is peanut. Now I rather tending to have some short term long until 60-65. But again hesitate. Put some alarms and waiting sitting on my hands.
  • #596,238
  • Feb 16, 2012 5:08pm Feb 16, 2012 5:08pm
Quoting cammomile
with all due respect, the entry is not consistent with tp. you are shorting h1 swing high with the tp at d1 fib ret level. besides, there are many levels between your entry and your tp. what if the price reverses at a higher level, which is more likely due to today's price action and the news supporting it?
Only yesterday, 1.3030 low was taken out and market made a new low.

So far today, yes we had a good rally, but that is not enough to be bullish.
The market still did not take out the previous low high on the 1h charts, which is at 1.3185, so this means it is still bearish.

If it makes a high higher than 1.3185, then i will turn bullish.

We have to wait and see....

BTW, My target 1.2980 is 1H 1.618 of the of the down move in 1H charts, and that alligns with daily retracement levels.

We will have to wait and see, if EUR takes out 1.3185 or 1.2975.....

Because monday is a big day, i am thinking the market should get to 1.2890 by friday or worst case monday.

Then when the final big news comes out on Monday, the new uptrend will begin target 1.3600 and higher...
PPP - Patience Pays PIPS
  • #596,239
  • Feb 16, 2012 5:08pm Feb 16, 2012 5:08pm
US500 overbought, must go down, so EU too
  • #596,240
  • Feb 16, 2012 5:19pm Feb 16, 2012 5:19pm
Quoting Z3iz3i
None should short before Asia opens, pretty little gain or none
I am buying mode.

If price does not drop through 1.3120 or stays above 40/45 before open, it will test MOST likely Wed Asian market close at 64.

Those orders are there yet but if price cracks, it is soon at 1.32. A bit above at 1.32117 comes Nov 2011 low, would look shorts there. Otherwise if 64 blocks and no stops get triggered above, would short there.

Target would be through 20 to 1.3065 aroundbouts.
Hi, I m using ajpivots indicator to find out support and resistance, but it works with h1 chart only, if you have any indicator which works with D1 chart as well, Please let me know or please mention the name. I am very new in this world and I am really hoping help from the experience traders like you.

Thanks
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