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  • #597,601
  • Feb 20, 2012 11:58pm Feb 20, 2012 11:58pm
This 4hr candle is looking to finish strong, unless we get a 15 pip dive in the next 2 mins.
I'm just a small fish in a large pond; forever swimming against the tide.
  • #597,602
  • Feb 21, 2012 12:14am Feb 21, 2012 12:14am
Looking for opportunities to short again. Good luck to everyone !
  • #597,603
  • Feb 21, 2012 12:35am Feb 21, 2012 12:35am
Would like to know your thoughts on what we can expect from the Franky open and how it might compare to the open of the London session?
I'm just a small fish in a large pond; forever swimming against the tide.
  • #597,604
  • Feb 21, 2012 12:40am Feb 21, 2012 12:40am
Went short 1,3275...we'll see where this one can go...
COT: The precious data ignored
  • #597,605
  • Feb 21, 2012 12:47am Feb 21, 2012 12:47am
Quoting kuroro001
Went short 1,3275...we'll see where this one can go...
the euro market didnt react the news YET,why short it?
A chart helps those who can read it.
  • #597,606
  • Feb 21, 2012 12:50am Feb 21, 2012 12:50am
Quoting kuroro001
Went short 1,3275...we'll see where this one can go...
You have to realise that price is in up trend, so to short the time that you did, is a risk trade. If price is going to reverse, then really u should wait till completion of 8am 4hr bar to be bear. If you think that the currency will reverse, then the following scenario should play out.

The next 4 hour bar (8am) which opens in 15 min will be bear, then the midday 4hr bar will be the bar in which you enter a short. The worst you could miss out on is 25 pips when the 8am 4hr bar closes just above the 50 figure. More likely the 8am bar will push up to either close above 300, or get rejected by 300.

Look at 9 February as an example. 4am up, 8am down, then 12pm shot up of 3250. If the midnight and 4am bars are nice bars like then and today, rather sit out till midnight.

There's tons of money to be made in Forex if you don't try to pick top or bottom.

I would look at euryen when this happens on eur. If you think that euro is going to sell, but the midnight and 4am bars are strong, look for euryen to close above a figure. In todays case, the 106.00 mark. then I would short the euryen.
  • #597,607
  • Feb 21, 2012 12:54am Feb 21, 2012 12:54am
Quoting spiritbreezer
There's tons of money to be made in Forex if you don't try to pick top or bottom.

and you just wrote this to someone who has 10v's
obviously you are right aboutthis strategy but he may no more then you or he is just drunk and want to play a little bit either way probably basics are not needed to teach in this case

better to ask only WHYYYYYY???
'You must be the change you wish to see in the world' . Gandhi
  • #597,608
  • Feb 21, 2012 12:57am Feb 21, 2012 12:57am
Quoting PipTease
Would like to know your thoughts on what we can expect from the Franky open and how it might compare to the open of the London session?
Four minutes to go!!

Some thoughtful insight please?
I'm just a small fish in a large pond; forever swimming against the tide.
  • #597,609
  • Feb 21, 2012 12:58am Feb 21, 2012 12:58am
would eur shoot up once london market open? as there would be demand for eur right?
or the other way round?
  • #597,610
  • Feb 21, 2012 12:59am Feb 21, 2012 12:59am
Quoting phxmike
and you just wrote this to someone who has 10v's
obviously you are right aboutthis strategy but he may no more then you or he is just drunk and want to play a little bit either way probably basics are not needed to teach in this case

better to ask only WHYYYYYY???

More than likely he's expecting the R levels between 1.33 and 1.333 to hold and get the correction back to 1.313. Before the next leg long.

Alternatively the break of 1.313 would lead to 1.295. And a break of 1.334 would take us into around 1.344.

The long being less likely with the 2-4 day, no retrace move.
  • #597,611
  • Feb 21, 2012 1:04am Feb 21, 2012 1:04am
Quoting kocher
More than likely he's expecting the R levels between 1.33 and 1.333 to hold and get the correction back to 1.313. Before the next leg long.

Alternatively the break of 1.313 would lead to 1.295. And a break of 1.334 would take us into around 1.344.

The long being less likely with the 2-4 day, no retrace move.

yes i think i know in what he trusts, 3320 level is holding, reverse before further gain blabla.. but even though it was too early to go short unless he know something...
that's what i meant
'You must be the change you wish to see in the world' . Gandhi
  • #597,612
  • Feb 21, 2012 1:07am Feb 21, 2012 1:07am
Quoting phxmike
yes i think i know in what he trusts, 3320 level is holding, reverse before further gain blabla.. but even though it was too early to go short unless he know something...
that's what i meant
Well, a short anywhere between here and 1.33-1.332 is potential for very good R:R. I'm personally giving up potential RR to see a LH LL on a small time frame, and some 1h wick at an R level. In doing so I can potentially save/make a few extra pips, but can also miss the move.

Getting in now/earlier for a good R:R setup ensures you are there for the move. Some times you loose a bit extra though.
  • #597,613
  • Feb 21, 2012 1:14am Feb 21, 2012 1:14am
am I seeing a clear broadening formation in daily?? price is most busslish toward the last higher high leg.... as we see...

I am seeing a big bearish development...anyone here supporting me ?
  • #597,614
  • Feb 21, 2012 1:15am Feb 21, 2012 1:15am
I personally think that there's a pretty strong underlying downtrend behind this obvious bullish Greece/USDX material. The influence could already fade already here @ 328. I understand why Kuroro took the trade, especially if he is hedging with multiple positions. Perhaps he went to sleep and took the best possible spot before that...
  • #597,615
  • Feb 21, 2012 1:20am Feb 21, 2012 1:20am
Quoting phxmike
and you just wrote this to someone who has 10v's
obviously you are right aboutthis strategy but he may no more then you or he is just drunk and want to play a little bit either way probably basics are not needed to teach in this case

better to ask only WHYYYYYY???
That's what I thought too. Believe me, he can take care of himself
New voice message: Why are you calling me? If I need you, I'll call you!
  • #597,616
  • Feb 21, 2012 1:22am Feb 21, 2012 1:22am
Quoting phxmike
yes i think i know in what he trusts, 3320 level is holding, reverse before further gain blabla.. but even though it was too early to go short unless he know something...
that's what i meant
Everyone have their own S&R for many different reasons, is defendable level, check sync prs the dropping like rocks, agree never try pick top bottom etc, but rr is acceptable, just is my 2 cents, possible 200 - 250 pips, would be nice kiwi aussie eu
If you are new to Forex? Say Goodbye to your account!!
  • #597,617
  • Feb 21, 2012 1:23am Feb 21, 2012 1:23am
It's really looking like it wants to break through, eh. If it does, lookout.
  • #597,618
  • Feb 21, 2012 1:26am Feb 21, 2012 1:26am
is today going to be equity sell off day or it need some bad news

edit :

Kiwi how is life , your present here adding strength to my bearish view
Mohan
  • #597,619
  • Feb 21, 2012 1:26am Feb 21, 2012 1:26am
Quoting voltagetoe
I personally think that there's a pretty strong underlying downtrend behind this obvious bullish Greece/USDX material. The influence could already fade already here @ 328. I understand why Kuroro took the trade, especially if he is hedging with multiple positions. Perhaps he went to sleep and took the best possible spot before that...

well after a few minutes he seemed to be right for any reason but saying that before going to sleep the best position is this ... hmm i strongly disagree
if you dont know what will happen (and you never know!) then before sleep the best is to go flat and do nothing
dont forget rule number one: to survive and only the second is to make profit

by the way i think he was simply gambling that london boys will start with a profit taking.. and they did....
'You must be the change you wish to see in the world' . Gandhi
  • #597,620
  • Feb 21, 2012 1:32am Feb 21, 2012 1:32am
Quoting phxmike
well after a few minutes he seemed to be right for any reason but saying that before going to sleep the best position is this ... hmm i strongly disagree
if you dont know what will happen (and you never know!) then before sleep the best is to go flat and do nothing
dont forget rule number one: to survive and only the second is to make profit

by the way i think he was simply gambling that london boys will start with a profit taking.. and they did....
It not easy to be all in all profitable with overnight trades but it is possible. Not a problem if you don't have to impress clients.
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