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  • #622,361
  • Apr 8, 2012 4:52pm Apr 8, 2012 4:52pm
Quoting kibescorp
"wait" for direction?

You mean wait until the price has moved ALREADY and then regret not having entered into a trade?

There's no such thing as "waiting for direction."

By the time a "direction" is clear, you will have already missed out. Otherwise it would still have yet to happen.

If you could simply "wait for direction," then everyone would be billionaires by now.
alright, do it your way. But if its been consolidating in a 30-40 pip range for the last 36 hours, im not jumping in till it breaks that.
  • #622,362
  • Apr 8, 2012 4:55pm Apr 8, 2012 4:55pm
Quoting KillerWhale
This is the greatest nonsense I have heard in a very long time.
lmao
  • #622,363
  • Apr 8, 2012 4:57pm Apr 8, 2012 4:57pm
Quoting kibescorp
"wait" for direction?

You mean wait until the price has moved ALREADY and then regret not having entered into a trade?

There's no such thing as "waiting for direction."

By the time a "direction" is clear, you will have already missed out. Otherwise it would still have yet to happen.

If you could simply "wait for direction," then everyone would be billionaires by now.

Charts don't tell you where the price is going. Only where it has already gone. Period.
very good point to bring up . more on the direction and the time frame would may be help alot in here .
  • #622,364
  • Apr 8, 2012 4:57pm Apr 8, 2012 4:57pm
Quoting kibescorp
"wait" for direction?

Charts don't tell you where the price is going. Only where it has already gone. Period.
if the charts dont tell us where the price is going, i wonder why we are wasting our time staring at the charts all day long
When life gives you lemons, make lemonade
  • #622,365
  • Apr 8, 2012 5:00pm Apr 8, 2012 5:00pm
Quoting kibescorp
By the time a "direction" is clear, you will have already missed out. Otherwise it would still have yet to happen.
Yeah. Because if you don't get every single pip on a trade you've failed miserably...
  • #622,366
  • Apr 8, 2012 5:02pm Apr 8, 2012 5:02pm
Quoting micho
if the charts dont tell us where the price is going, i wonder why we are wasting our time staring at the charts all day long
Maybe he isn't. He might just be gambling, and flip a coin.
  • #622,367
  • Apr 8, 2012 5:02pm Apr 8, 2012 5:02pm
Quoting kibescorp
"wait" for direction?

You mean wait until the price has moved ALREADY and then regret not having entered into a trade?

There's no such thing as "waiting for direction."

By the time a "direction" is clear, you will have already missed out. Otherwise it would still have yet to happen.

If you could simply "wait for direction," then everyone would be billionaires by now.

Charts don't tell you where the price is going. Only where it has already gone. Period.
I hope that's not true..
  • #622,368
  • Apr 8, 2012 5:06pm Apr 8, 2012 5:06pm
Guys different styles of trading...

Momentum traders will be glued to the screen - they need to see price go so they can join the movement assuming all the ducks are lined up


Support and resistance traders care about the left hand side of the chart. They care about what was done in past because market repeats its self so often.

I got short on Fri at failure of 3100 area. Look at the chart... See the wicks ... Yes , it can trade higher but i bet on lower. Stop placement is obvious to me - just above the highs of the resistance zone from 3100 - 3107

Not betting the farm.. just the same old 2 - 3%. Win some ... lose some...but will be back tomorrow i assure you of that.
  • #622,369
  • Apr 8, 2012 5:14pm Apr 8, 2012 5:14pm
direction is not simple and a lot of times it could be really difficult but if you ve some experience you ll be able to get trade after another and win so what is the chart telling us right now where is it going this is the question for seniors to answer the ones that give everyone shit about their trading
Attached Image (click to enlarge)
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  • #622,370
  • Apr 8, 2012 5:15pm Apr 8, 2012 5:15pm
I'm short at 1.30915, with another sell limit at 1.31030, both with stops at 1.31140. TP 1.3151

I don't think that price can break past 1.311 but we'll see...
  • #622,371
  • Apr 8, 2012 5:17pm Apr 8, 2012 5:17pm
Quoting mediaboy
Guys different styles of trading...

Momentum traders will be glued to the screen - they need to see price go so they can join the movement assuming all the ducks are lined up


Support and resistance traders care about the left hand side of the chart. They care about what was done in past because market repeats its self so often.

I got short on Fri at failure of 3100 area. Look at the chart... See the wicks ... Yes , it can trade higher but i bet on lower. Stop placement is obvious to me - just above the highs of the resistance zone from...
I would guess down on this one too, but you have a support resistance between 1.3100 and 1.3087
  • #622,372
  • Apr 8, 2012 5:28pm Apr 8, 2012 5:28pm
good night every body
  • #622,373
  • Apr 8, 2012 5:32pm Apr 8, 2012 5:32pm
Quoting publicjud
I would guess down on this one too, but you have a support resistance between 1.3100 and 1.3087
Yes correct but i figure some support is in the .3060 and slight below.

One trick I learned is to open the daily chart. Make it a "line chart". Observe the bends in that chart. See where the repeated bends are ... they occur at or near .3060 area of price. I look to scale position assuming not stopped out.

Playing the probabilities that's all. Not using excessive amounts of leverage so I am calm not worried at all about failure. Always have enough to come back tomorrow.
  • #622,374
  • Apr 8, 2012 5:38pm Apr 8, 2012 5:38pm
going up to 1.3210 ? 4hr chart looks a bit optimistic
  • #622,375
  • Apr 8, 2012 5:38pm Apr 8, 2012 5:38pm
(((((Yawn)))))) Waiting for Tokyo to do something.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd5m.jpg Size: 81 KB
Time turns trend. - W.D. Gann
  • #622,376
  • Apr 8, 2012 5:41pm Apr 8, 2012 5:41pm
this is only my view but you could buy of the support and sell resistance buy at a swing low and sell swing high
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 15 KB
  • #622,377
  • Apr 8, 2012 5:43pm Apr 8, 2012 5:43pm
Quoting ForExtraPips
(((((Yawn)))))) Waiting for Tokyo to do something.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #622,378
  • Apr 8, 2012 6:03pm Apr 8, 2012 6:03pm
Meh, still nothing convincing on the long side. 1.30 should provide some resistance.
  • #622,379
  • Apr 8, 2012 6:03pm Apr 8, 2012 6:03pm
It only take 1 hr to erase what Friday's gain.
  • #622,380
  • Apr 8, 2012 6:06pm Apr 8, 2012 6:06pm
Wow, didn't really expect to grab 30 pips so easily
New voice message: Why are you calling me? If I need you, I'll call you!
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