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  • #14,421
  • May 7, 2012 2:58am May 7, 2012 2:58am
Quoting Chika Kure
Nice entry T.
Looking at cable and AU - could be fall from here.
Would like to short EU from DP lets say.
3026 is very important. I will short below DPP too but need swing down confirmation.
  • #14,422
  • May 7, 2012 3:03am May 7, 2012 3:03am
Scalped 6 pips short on cable - from 61423. Maybe to jumpy to close.
Also short on AU from 1.01636.
  • #14,423
  • May 7, 2012 3:14am May 7, 2012 3:14am
This is how i usually short.

I will wait for the first pullback when TL or MA tl is broken then enter on 2nd swing.

Thats what i also do when uptrend is started.

For short entries I will wait for the 2nd swing. ( blue elipse)

Blindly shorting it ( shorting the top/bottom) can give u more pips but its more riskier and i rarely do it.

Attached Image (click to enlarge)
Click to Enlarge Name: eu2.png Size: 15 KB
  • #14,424
  • May 7, 2012 3:29am May 7, 2012 3:29am
Quoting T@rantula

Blindly shorting it ( shorting the top/bottom) can give u more pips but its more riskier and i rarely do it.
Yes - more chance on pullback. Nice picture. For cable I had double top on M5 on DP... but on AU I should wait longer.
  • #14,425
  • May 7, 2012 3:52am May 7, 2012 3:52am
3026 still holds.
  • #14,426
  • May 7, 2012 4:09am May 7, 2012 4:09am
Now i will go short ( already closed long @ 3020)

E:3005
SL:3030
TP:2955
  • #14,427
  • May 7, 2012 4:58am May 7, 2012 4:58am
Quoting T@rantula
Now i will go short ( already closed long @ 3020)

E:3005
SL:3030
TP:2955
3026 still being tested, but im not comfortable as it broke 3026 by a 5th decimal. Closing it at 26 and will play BO the upside on the smaller Tfs.

Continuation to 3050 expected.
  • #14,428
  • May 7, 2012 5:05am May 7, 2012 5:05am
Quoting T@rantula
3026 still being tested, but im not comfortable as it broke 3026 by a 5th decimal. Closing it at 26 and will play BO the upside on the smaller Tfs.

Continuation to 3050 expected.
REACTION, always!

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 70 KB
  • #14,429
  • May 7, 2012 5:17am May 7, 2012 5:17am
Quoting T@rantula

Continuation to 3050 expected.
3042 scaling out stops at BE ( 3026), final target 3080.
  • #14,430
  • May 7, 2012 6:05am May 7, 2012 6:05am
Quoting T@rantula
3042 scaling out stops at BE ( 3026), final target 3080.
Stopped at BE. Flat till NY.
  • #14,431
  • May 7, 2012 7:14am May 7, 2012 7:14am
I will watch the development of PA. if it jumps from here, I will short it just below 3085 with 15 pip stop.
  • #14,432
  • May 7, 2012 7:20am May 7, 2012 7:20am
Quoting T@rantula
I will watch the development of PA. if it jumps from here, I will short it just below 3085 with 15 pip stop.
If it atempts to fill a gap - then short?
  • #14,433
  • May 7, 2012 7:28am May 7, 2012 7:28am
After Cash Rate change, pair is going down. Now at same level where price was consolidating on Friday after drop. Two doji candles and nice bearish divergence also on H1.

Short: 1.01875
SL: 1.02100
Attached Image (click to enlarge)
Click to Enlarge Name: au-short.gif Size: 21 KB
  • #14,434
  • May 7, 2012 7:32am May 7, 2012 7:32am
Quoting Chika Kure
If it atempts to fill a gap - then short?
yes
  • #14,435
  • May 7, 2012 7:35am May 7, 2012 7:35am
Quoting Chika Kure
After Cash Rate change, pair is going down. Now at same level where price was consolidating on Friday after drop. Two doji candles and nice bearish divergence also on H1.

Short: 1.01875
SL: 1.02100
AUssie did some PB so from a technical standpoint the trade should be valid.
  • #14,436
  • May 7, 2012 11:40am May 7, 2012 11:40am
Well, just got back, and no need to turn on platform, cos I see here:
http://www.forex-markets.com/quotes.htm
that I got stopped on AU.
  • #14,437
  • May 8, 2012 2:54am May 8, 2012 2:54am
This is how we stand today.

EU is bearish while below 3075 and target remains 2950. If it jumps above 3075 3130 and 3150 are targets. London projected top is 3063, while low is 3001. 3032 is median point.

So 3075 is intraday resistance. Bears currently have the advantage and sell on PBs is advised.
  • #14,438
  • May 8, 2012 3:12am May 8, 2012 3:12am
Quoting T@rantula
Bears currently have the advantage and sell on PBs is advised.
Sold on PB to DP, @ 30267

ADDON:
So far so good, chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu-08-05-2012.gif Size: 83 KB
  • #14,439
  • May 8, 2012 3:24am May 8, 2012 3:24am
Quoting Chika Kure
Sold on PB to DP, @ 30267

ADDON:
So far so good, chart:


Pay attention to 3032 and median point, scale out just in case..
  • #14,440
  • May 8, 2012 3:35am May 8, 2012 3:35am
More momentum in dead cow atm... Should have taken 10 pips, but was thinking that trade have more potential. Still holding, but I dont like PA at all.

ADDON:
Closed that mofo on BE. Reason: Zero momentum.
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