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  • #597,961
  • Feb 21, 2012 7:06pm Feb 21, 2012 7:06pm
Quoting PipTease

p.s. We're not supposed to see the traps, not until it's happened. Wouldn't be much of a trap otherwise.
agree, vigilance can give some early alarm
Mohan
  • #597,962
  • Feb 21, 2012 7:14pm Feb 21, 2012 7:14pm
Quoting mohan76
agree, vigilance can give some early alarm
One thing worth noting is that 32 is hard enough to crack as is 65 on the A/U. Am I right in thinking that it's this positive correlation that's keeping the Eur as high as it is. It seems the Aud is fighting just as hard to reach 1.10 without dropping too far back...and there's been much said about the Aud getting there this week!
I'm just a small fish in a large pond; forever swimming against the tide.
  • #597,963
  • Feb 21, 2012 7:21pm Feb 21, 2012 7:21pm
Crazy long term traders hunting continuing.
100 pips range is a paradise for scalpers
You cannot learn better without losing
  • #597,964
  • Feb 21, 2012 7:22pm Feb 21, 2012 7:22pm
Quoting PipTease
As am I

I decided to hedge my shorts towards the end of London session as I weren't too sure where we were headed with this...


Why hedge? Pay extra spread? Why not close and reopen when you want to? Makes no sense...
  • #597,965
  • Feb 21, 2012 7:22pm Feb 21, 2012 7:22pm
Quoting m.valan
Attachment

can any one explain the Eliott wave formation here?? which wave are we in now?
End of 4
  • #597,966
  • Feb 21, 2012 7:30pm Feb 21, 2012 7:30pm
Quoting southbeach
Hi, I do believe eur/usd if forming head and shoulders. plz comment if this is correct or not.
Yes, you are right.
  • #597,967
  • Edited 9:58pm Feb 21, 2012 7:55pm | Edited 9:58pm
IT'S FOR FUN.....
  • #597,968
  • Feb 21, 2012 7:59pm Feb 21, 2012 7:59pm
Next TP is 1,3152
  • #597,969
  • Feb 21, 2012 8:02pm Feb 21, 2012 8:02pm
fundamentally it should be bullish , will be looking to long at the 1.3190. i will wait for bearish to go at least 100pipps from top before i decide my position.
  • #597,970
  • Feb 21, 2012 8:05pm Feb 21, 2012 8:05pm
Quoting tankokjian
fundamentally it should be bullish , will be looking to long at the 1.3190. i will wait for bearish to go at least 100pipps from top before i decide my position.


Fundamentally it should be super bearish, like EU @ 1.24 or so
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  • #597,971
  • Feb 21, 2012 8:11pm Feb 21, 2012 8:11pm
Quoting PipTease
Technical's aren't always right. But as I said it's just a hunch.
However, I don't think the Bulls are done yet!

you may be right that the struggle between bulls and bears is not over yet , peace
With due respect to all (who might have a different viewpoint).
  • #597,972
  • Feb 21, 2012 8:25pm Feb 21, 2012 8:25pm
man this is so irritating - can't go up, can't go down either....
  • #597,973
  • Feb 21, 2012 8:34pm Feb 21, 2012 8:34pm
Maybe I should get drunk tonight during London.
Usually I make more money when I'm drunk.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #597,974
  • Feb 21, 2012 8:34pm Feb 21, 2012 8:34pm
Quoting Sixpack73
man this is so irritating - can't go up, can't go down either....
Price sure does like to bounce off the 50, 100, and 200 EMA. Finally going up.
Time turns trend. - W.D. Gann
  • #597,975
  • Feb 21, 2012 8:36pm Feb 21, 2012 8:36pm
Quoting Sixpack73
man this is so irritating - can't go up, can't go down either....
It's like watching paint dry.
  • #597,976
  • Feb 21, 2012 8:37pm Feb 21, 2012 8:37pm
Quoting KillerWhale
Maybe I should get drunk tonight during London.
Usually I make more money when I'm drunk.
when did you count your earning ? while your in boost or next day ?
Mohan
  • #597,977
  • Feb 21, 2012 8:37pm Feb 21, 2012 8:37pm
Quoting ForExtraPips
Price sure does like to bounce off the 50, 100, and 200 EMA. Finally going up.
Nevermind. Still bouncing. Time for another shot.
Time turns trend. - W.D. Gann
  • #597,978
  • Feb 21, 2012 8:46pm Feb 21, 2012 8:46pm
Quoting mohan76
when did you count your earning ? while your in boost or next day ?
Really a few times I made so much that next day I was wondering........... Damn how did I do that
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  • #597,979
  • Feb 21, 2012 8:46pm Feb 21, 2012 8:46pm
Quoting iulli
Why hedge? Pay extra spread? Why not close and reopen when you want to? Makes no sense...
You're not actually paying any extra since you pay the spread on entry AND exit of each trade regardless.

IF price goes anywhere near Feb high, I can take a short back down (making up to 40 pips before my hedge and maybe more thereafter) closing the hedge on the way BACK DOWN.
Obviously, the key factors here a) Eur must rally b) hit resistance c) continue a strong enough downtrend.

Alot of if's and but's but all possible.

And I know this didn't answer your question 'cause I can always start over etc, it's just that I'm too competitive to allow another set of losing trades appear on my end of month report
I'm just a small fish in a large pond; forever swimming against the tide.
  • #597,980
  • Feb 21, 2012 8:47pm Feb 21, 2012 8:47pm
Solid base with greater than 2 week spread between supports indicated by arrows.

Exceed required 3% minimum from downtrend breakout at 1.325ish

This could be good support for going long again if not already in.

Wary of 66% Correction possibilty(previous downturn took us to 50% exactly) though back to tentative uptrend line since the price action is heavily extended to the upside.
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