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  • #597,601
  • Feb 20, 2012 9:58pm Feb 20, 2012 9:58pm
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 20, 2012 10:14pm Feb 20, 2012 10:14pm
Looking for opportunities to short again. Good luck to everyone !
  • #597,603
  • Feb 20, 2012 10:35pm Feb 20, 2012 10:35pm
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 20, 2012 10:40pm Feb 20, 2012 10:40pm
Went short 1,3275...we'll see where this one can go...
COT: The precious data ignored
  • #597,605
  • Feb 20, 2012 10:47pm Feb 20, 2012 10:47pm
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 20, 2012 10:50pm Feb 20, 2012 10:50pm
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 20, 2012 10:54pm Feb 20, 2012 10:54pm
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 20, 2012 10:57pm Feb 20, 2012 10:57pm
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 20, 2012 10:58pm Feb 20, 2012 10:58pm
would eur shoot up once london market open? as there would be demand for eur right?
or the other way round?
  • #597,610
  • Feb 20, 2012 10:59pm Feb 20, 2012 10:59pm
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 20, 2012 11:04pm Feb 20, 2012 11:04pm
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 20, 2012 11:07pm Feb 20, 2012 11:07pm
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 20, 2012 11:14pm Feb 20, 2012 11:14pm
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 20, 2012 11:15pm Feb 20, 2012 11:15pm
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 20, 2012 11:20pm Feb 20, 2012 11:20pm
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 20, 2012 11:22pm Feb 20, 2012 11:22pm
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 20, 2012 11:23pm Feb 20, 2012 11:23pm
It's really looking like it wants to break through, eh. If it does, lookout.
  • #597,618
  • Feb 20, 2012 11:26pm Feb 20, 2012 11:26pm
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 20, 2012 11:26pm Feb 20, 2012 11:26pm
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 20, 2012 11:32pm Feb 20, 2012 11:32pm
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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