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EURUSD

  • #596,261
  • Feb 16, 2012 7:37pm Feb 16, 2012 7:37pm
Quoting Fbps
Can you share or give example of what you mean by your last comment "You would not even need a chart, just know important session closes and price level. Then you know which way to trade"? Thks.
Large traders to not rely on charts to trade, they rely on specific areas of support and resistance. Thus, they do not need a chart to trade. They just need a live quote feed and trade off of these levels.

But to be fair, they use a charts to determine what levels to trade.
  • #596,262
  • Feb 16, 2012 7:37pm Feb 16, 2012 7:37pm
Quoting sidhujag
today may be a 400-500 pip jpy cross move and a 200-300 pip eu day to finally shake out weak shorts.
Reason for your prediction.
  • #596,263
  • Feb 16, 2012 7:37pm Feb 16, 2012 7:37pm
AUD made a higher high, EUR might follow suit or retest....

Moved my SL to BE, got stopped out.....

I am watching AUD at 1.0810 area ...

EUR could be headed to 1.3200.


I am on the sidelines...
PPP - Patience Pays PIPS
  • #596,264
  • Feb 16, 2012 7:40pm Feb 16, 2012 7:40pm
Quoting godwin2002
Reason for your prediction.
intervention and greece news
  • #596,265
  • Feb 16, 2012 7:40pm Feb 16, 2012 7:40pm
Quoting Kowalczyk
Large traders to not rely on charts to trade, they rely on specific areas of support and resistance. Thus, they do not need a chart to trade. They just need a live quote feed and trade off of these levels.

But to be fair, they use a charts to determine what levels to trade.
I like that style of trading. Another 120 pips today by doing it that way.
Time turns trend. - W.D. Gann
  • #596,266
  • Feb 16, 2012 7:50pm Feb 16, 2012 7:50pm
Quoting Kowalczyk
Large traders to not rely on charts to trade, they rely on specific areas of support and resistance. Thus, they do not need a chart to trade. They just need a live quote feed and trade off of these levels.

But to be fair, they use a charts to determine what levels to trade.
Thanks...guess I need to be more accurate in my support and resistance else I'll get eaten up time and time again.
  • #596,267
  • Feb 16, 2012 7:51pm Feb 16, 2012 7:51pm
Quoting Leeson
+62 pips. +114 this week. Finally I am learning to wait for the proper setups... Took me 10k account to learn this...
At least you even use setups. My friend has been trading live (or spread BETTING if you prefer) since November, with little to no prior knowledge of how the market works, without any demo trading whatsoever. He scalps huge amounts per point based on (get this); the daily change in points. +'s and -'s being his rationale for entering a position.

Heres a brief summary of his spread betting career (in Acc Balance):

£17k
£7k
£15k
£21k
£15k
£24k
£32k
£16k
£7.5k
and now...£800

I wern't too harsh on him since I was no better, only it didn't cost me £16k of my hard earnt money to learn the lesson
I'm just a small fish in a large pond; forever swimming against the tide.
  • #596,268
  • Feb 16, 2012 7:56pm Feb 16, 2012 7:56pm
Quoting rustyram
What are your current trades... cammomile and betteridea

Entry ,SL and TP
http://www.forexfactory.com/showthre...08#post5393308

Same feeling that things are pointing up so max TP for a short is around 1.3050.
  • #596,269
  • Feb 16, 2012 8:02pm Feb 16, 2012 8:02pm
Quoting Higuain
Look last 2 pages and try to count how many members here going to short EU at the exact price around 1.3120 makes me believe we are still going north. Maybe I'm wrong but I don't like when there is a situation like "easy money shorting here" just like now
I hope you guys considering my post 8 hours ago. I believe many got SL hit or underwater position if they did that. I have an open position Buy EU at 1.3083 ( opened at 16:48 GMT) SL at 1.3090. TP open.

50% fib retracement completed at 1.2973, be prepared for a new high.
  • #596,270
  • Feb 16, 2012 8:04pm Feb 16, 2012 8:04pm
Quoting Higuain
I hope you guys considering my post 8 hours ago. I believe many got SL hit or underwater position if they did that. I have an open position Buy EU at 1.3083 ( opened at 16:48 GMT) SL at 1.3090. TP open.

50% fib retracement completed at 1.2973, be prepared for a new high.
when everyone is saying short you know what to do same goes for long. Seems like retailers still shorting tops so move may be jus tgetting started
  • #596,271
  • Feb 16, 2012 8:05pm Feb 16, 2012 8:05pm
Earlier this morning, most people were short while I was long. Now, I think that I am the only one short.
  • #596,272
  • Feb 16, 2012 8:10pm Feb 16, 2012 8:10pm
Quoting sidhujag
when everyone is saying short you know what to do same goes for long. Seems like retailers still shorting tops so move may be jus tgetting started
Yup
What is your entry price?
Market sentiment is one of the best "indicator" for me, 10 peoples short & 1 long equal to heading north. Since mine already risk free (SL BE) so let's ride the wave.
  • #596,273
  • Feb 16, 2012 8:13pm Feb 16, 2012 8:13pm
Quoting Higuain
Yup
What is your entry price?
Market sentiment is one of the best "indicator" for me, 10 peoples short & 1 long equal to heading north. Since mine already risk free (SL BE) so let's ride the wave.
long at 3025
  • #596,274
  • Feb 16, 2012 8:14pm Feb 16, 2012 8:14pm
Quoting Kowalczyk
Earlier this morning, most people were short while I was long. Now, I think that I am the only one short.
You are not alone. i short as well and now -35pips. SL is 1.3160
  • #596,275
  • Feb 16, 2012 8:14pm Feb 16, 2012 8:14pm
Quoting sidhujag
long at 3025
Super sweet entry. Congratulations for your +100 pip so far. Cheers.
  • #596,276
  • Feb 16, 2012 8:16pm Feb 16, 2012 8:16pm
Yay! How's everyone's losses today?
  • #596,277
  • Feb 16, 2012 8:23pm Feb 16, 2012 8:23pm
EUR Waves updated.

Still EUR daily trend is UP , process of making higher low.
In 4H timeframe EUR is still in retracement mode
That means we should see a 60 M - ABC waves

we are in the process of forming 60 M wave B, which generally retraces to former wave 4 of 15 min, which is at 1.3190, the upmove should stall at 1.3180 - 1.3205 area. It might meet the 60 min downtrend line at this area.
If it gives a bearish signs at this area, i will go short.

Then EUR should head right back to 1.2890, to complete the down move.

Then EUR should begin its daily/4H uptrend towards 1.3600 and above.

This is my EUR complete analysis with exact price points and reversals....

Only time will tell........i would like to know what others think of this analysis
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-60-M-2-16-12.JPG Size: 42 KB
PPP - Patience Pays PIPS
  • #596,278
  • Feb 16, 2012 8:41pm Feb 16, 2012 8:41pm
Quoting rustyram
EUR Waves updated.

Still EUR daily trend is UP , process of making higher low.
In 4H timeframe EUR is still in retracement mode
That means we should see a 60 M - ABC waves

we are in the process of forming 60 M wave B, which generally retraces to former wave 4 of 15 min, which is at 1.3190, the upmove should stall at 1.3180 - 1.3205 area. It might meet the 60 min downtrend line at this area.
If it gives a bearish signs at this area, i will go short.

Then EUR should head right back to 1.2890, to complete the down move.

Then EUR should begin...
Hi,

What price can I take short entry? Thanks
  • #596,279
  • Feb 16, 2012 8:45pm Feb 16, 2012 8:45pm
Quoting midnightpip
Hi,

What price can I take short entry? Thanks
1.35000
  • #596,280
  • Feb 16, 2012 8:47pm Feb 16, 2012 8:47pm
Quoting midnightpip
Hi,

What price can I take short entry? Thanks
I am looking for 1.3180 - 1.3205 area, if it also meets that downtrend line at this area, and forms a 60 Min bearish candle at this area, then i am going short, with a SL for 15 Pips above that high.

If the price closes above the down trendline and if it shoots passed 1.3210, then i will start thinking long.
PPP - Patience Pays PIPS
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