RJ is having a bad day so will not trade again until next week.
- #7,261
- Mar 2, 2012 6:36am Mar 2, 2012 6:36am
- Joined Mar 2011 | Status: Trader | 1,886 Posts
- #7,262
- Mar 2, 2012 6:37am Mar 2, 2012 6:37am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
That reminds me of what happened to me yesterday. Much better day today though
Doing what you like is Freedom. Liking what you do is Happiness.
- #7,263
- Mar 2, 2012 6:39am Mar 2, 2012 6:39am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
We all get them at some point.
Doing what you like is Freedom. Liking what you do is Happiness.
- #7,264
- Mar 2, 2012 6:53am Mar 2, 2012 6:53am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
Yeah, days like this happen sometimes......I just got out of sync with the market, so best I don't expose myself to more risk today and I come back fresh next week. At least I lost nothing so it's all good
I agree...It happens to everyone. I must admit that I have neglected the thread account this week and I missed alot of trade opportunities because of other business interests (non forex related) that really will show in the Thread Account Statistics this week. I had one bad trade because of the LTRO gave false signal and cost me a stoploss hit but I did not bounce back and make counter trades with profit to offset because I was busy and missed the entry points. Also 1 hour only gives one few opportunities and if you miss them then you are sidelined for extended periods of time.
So, if you are out of sync....it is good to realize that and not trade because no one every lost money in the market ''not trading''. It is important to only take trades you think will be in your favor and not spend your time chasing after pips because they can always run faster than you.
I intend to make a point of getting back into the focus next week as well.
Evaluator.:nerd:
- #7,266
- Mar 2, 2012 6:56am Mar 2, 2012 6:56am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
I agree...It happens to everyone. I must admit that I have neglected the thread account this week and I missed alot of trade opportunities because of other business interests (non forex related) that really will show in the Thread Account Statistics this week. I had one bad trade because of the LTRO gave false signal and cost me a stoploss hit but I did not bounce back and make counter trades with profit to offset because I was busy and missed the entry points. Also 1 hour only gives one few opportunities and if you miss them then you are sidelined...
Me too Eval.....I will have a chat with Jose Cuervo on the weekend and next week I'll be back to full power again!!!
Doing what you like is Freedom. Liking what you do is Happiness.
- #7,268
- Mar 2, 2012 7:05am Mar 2, 2012 7:05am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
EU weekly candle
Doing what you like is Freedom. Liking what you do is Happiness.
- #7,271
- Mar 2, 2012 7:24am Mar 2, 2012 7:24am
Is somebody on board with USDCAD 1H long ?I took It
PS:yelena please can u comment my FE SL& TP set .Did I drow it corect?
Tnks for you time and good luck at trading
) so hopefully someone else who knows there stuff more will chime in.
- #7,273
- Mar 2, 2012 7:31am Mar 2, 2012 7:31am
- Joined Mar 2011 | Status: Trader | 1,886 Posts
Is somebody on board with USDCAD 1H long ?I took It
PS:yelena please can u comment my FE SL& TP set .Did I drow it corect?
Tnks for you time and good luck at trading
I have tp 1 at 1.618 and tp 2 at 2.618 but how you have them is up to you.
- #7,277
- Mar 2, 2012 7:43am Mar 2, 2012 7:43am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
Interesting developments.
With the failure of any meaningful retracement after the EURUSD broke out of the upchannel at 1.34400 this breakout changed the price action direction. Then as wave 2 basically amounted to a flat (triangle pattern) One can see the formation of a new down channel for the EURUSD. If this is indeed the new developed pattern for the EURUSD; one can look to a pullback to be no higher than 1.32750 before resuming the downward decent as the channel becomes more established.
As of the moment of this posting that will make the bottom of the down channel 1.31500 before any chance of a pullback or consolidation period before the Euros next drop.
However, if this is still a wave 1 with an extended 5 part then we can expect a retacement no higher than the 61.8 fib or 1.33850 before the euro resumes is drop to the next target area of 1.27700 as a powerful Wave 3 drop.
So we are at a decision point for the EURUSD. One road offers a slow and drawn out gradual down channel decent with alot of whipsaw action versus the second possibility where there is a dramatic rally that is followed by an even more dramatic drop.
Only time will tell which path the market decides.....but if we know the parameters then all we have to do is take the Symphonie Signals at the turns and we are in the money!!!!
FREAKY FRIDAY!!!!
Evaluator.:nerd:
With the failure of any meaningful retracement after the EURUSD broke out of the upchannel at 1.34400 this breakout changed the price action direction. Then as wave 2 basically amounted to a flat (triangle pattern) One can see the formation of a new down channel for the EURUSD. If this is indeed the new developed pattern for the EURUSD; one can look to a pullback to be no higher than 1.32750 before resuming the downward decent as the channel becomes more established.
As of the moment of this posting that will make the bottom of the down channel 1.31500 before any chance of a pullback or consolidation period before the Euros next drop.
However, if this is still a wave 1 with an extended 5 part then we can expect a retacement no higher than the 61.8 fib or 1.33850 before the euro resumes is drop to the next target area of 1.27700 as a powerful Wave 3 drop.
So we are at a decision point for the EURUSD. One road offers a slow and drawn out gradual down channel decent with alot of whipsaw action versus the second possibility where there is a dramatic rally that is followed by an even more dramatic drop.
Only time will tell which path the market decides.....but if we know the parameters then all we have to do is take the Symphonie Signals at the turns and we are in the money!!!!
FREAKY FRIDAY!!!!
Evaluator.:nerd:
- #7,278
- Mar 2, 2012 7:46am Mar 2, 2012 7:46am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
sorry. i really have to rest now. im exhausted..... with happiness. i fear i might blow my account. ill respond over the weekend. im really sorry. im just trying to control myself.
Yelena,
You should take the rest of the day off....ENJOY YOURSELF! Go shopping and spend some of your profit as a special reward and just have some fun!
Don't worry about us and the market today...we and it will be here on Monday when you return.
Have some fun....life is short and take the good times and play them to the fullest!!!
Evaluator.:nerd:
- #7,280
- Mar 2, 2012 8:03am Mar 2, 2012 8:03am
- Joined Oct 2007 | Status: Trader | 2,972 Posts
Hi everyone and congratulations Eval on yet another successful week on the thread.
This thread is always a pleasure to be part of and has a lot of intelligent traders on board..
I don't take part as much as I would like as I am only a part time trader and have business commitments so please forgive me..
I would like to thank RJ and Eval...
Seabreeze,
Congratulations to you on your continued wins!!
You are building up a very good track record!!!!!!
Evaluator.:nerd: