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  • #14,601
  • May 17, 2012 1:49am May 17, 2012 1:49am
Quoting T@rantula
H
Bullish- 2752 2757 2762 2768 2771 (LPH)
Bearish- 2732 2727 2721 2716 2713 (LPL)

Levels are clustered due to narrrow accumulation in Asia.
Again break thru LPH 2771 or LPL 2713 should print new levels and point out some intraday trend.
Have u noticed where EU bounced from? LPL has been tested.
  • #14,602
  • May 17, 2012 1:50am May 17, 2012 1:50am
Hi T.
I am of the same opinion as you with the same targets.

It looks pretty heavy for a retracement to take place. Besides, you need a trigger for short covering and given the situation with the EZ, it's not very conducive.

We had a move up overnight but barely tested the low, i'm waiting for a level to go S (may be on break of 1.2712 - let say 1.2707 or higher if we retest the highs).
Of course this is just my opinion and coudl be all wrong


Quoting T@rantula
I agree that EU needs to have some retracement. But im not very convinced in longs. From Daily perspective if any retracement happens stops should be just above 2935 but it seems EU is targeting 2640/20 and if that level breaks 1.2550 is next.

Current situation in Greece is very unnerving for investors so the short selling is very justified.

However nice to see another view..just pay attention to MM.
  • #14,603
  • May 17, 2012 2:02am May 17, 2012 2:02am
to the pip - now it's 1.2714
and this morning we had the 1.275 level tested 3 times (before going down)
Quoting T@rantula
Have u noticed where EU bounced from? LPL has been tested.
  • #14,604
  • May 17, 2012 2:04am May 17, 2012 2:04am
YESSS...
Hopefully it won't go back up too soon
  • #14,605
  • May 17, 2012 2:13am May 17, 2012 2:13am
Sells as close to 2745 are justified. Any stops should b placed just above.
  • #14,606
  • May 17, 2012 2:14am May 17, 2012 2:14am
Quoting BrunargarFx
YESSS...
Hopefully it won't go back up too soon
Same mind Mr.B!
  • #14,607
  • May 17, 2012 2:21am May 17, 2012 2:21am
I am in S: on retest @ 1.2719. I don't wanna see 1.2745 any time soon.
SL: 1.2755 - I know, larger than usual but I don't wanna be S/O and good R:R

Quoting T@rantula
Sells as close to 2745 are justified. Any stops should b placed just above.
  • #14,608
  • May 17, 2012 2:28am May 17, 2012 2:28am
Quoting BrunargarFx
I am in S: on retest @ 1.2719. I don't wanna see 1.2745 any time soon.
SL: 1.2755 - I know, larger than usual but I don't wanna be S/O and good R:R
LOL exactly the same position... Excellent one..


Follow the trend....When scalping...scale out@ important levels then put rest on BE. It can turn to intraday.

Slope is down, channel is down, river is down. Just go with the flow...

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  • #14,609
  • May 17, 2012 2:30am May 17, 2012 2:30am
Actually I'm getting a possible short squeeze on M1 so I moved my SL to BE. Looks like the downmove will be slow but we need to gather pace now for continuation


Quoting BrunargarFx
I am in S: on retest @ 1.2719. I don't wanna see 1.2745 any time soon.
SL: 1.2755 - I know, larger than usual but I don't wanna be S/O and good R:R
  • #14,610
  • May 17, 2012 2:32am May 17, 2012 2:32am
Quoting BrunargarFx
Actually I'm getting a possible short squeeze on M1 so I moved my SL to BE. Looks like the downmove will be slow but we need to gather pace now for continuation
Quoting T@rantula
Sells as close to 2745 are justified. Any stops should b placed just above.
This is where we currently are. Those who sold close to 2745 are in even better position, trend is our friend...always...
  • #14,611
  • May 17, 2012 2:37am May 17, 2012 2:37am
The problem with squeeze is that most of the banks are having holiday today. Better movement can be expected later in EU/US session.
  • #14,612
  • May 17, 2012 2:54am May 17, 2012 2:54am
yes, definitely.

At least we have broken the 1.2713 level and not the 1.275 one. To me, this shows where the market wants to go.
Besides and as mentionned earlier, no particular news / fundies to support the bulls atm
Let's wait and see what NY will bring us

Quoting T@rantula
The problem with squeeze is that most of the banks are having holiday today. Better movement can be expected later in EU/US session.
  • #14,613
  • May 17, 2012 2:59am May 17, 2012 2:59am
Quoting BrunargarFx
yes, definitely.

At least we have broken the 1.2713 level and not the 1.275 one. To me, this shows where the market wants to go.
Exactly and 2750 is where INTRADAY stops are ( slightly above). Daily TF stops are presumably @ 2940 and there is NO mid term bulls below 2940.
  • #14,614
  • May 17, 2012 3:19am May 17, 2012 3:19am
That's more like it

"TIMBER"!
  • #14,615
  • May 17, 2012 3:28am May 17, 2012 3:28am
Long 2693.. stop 2680.. off time and pivots.. and quad and pivot on USDx
  • #14,616
  • May 17, 2012 3:45am May 17, 2012 3:45am
Quoting danc
Long 2693.. stop 2680.. off time and pivots.. and quad and pivot on USDx
2 dngerous me.. out no damage
  • #14,617
  • May 17, 2012 5:06am May 17, 2012 5:06am
hello. i go long. stop 2590. tp 2980. everything in chart
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looking for investors . pm me
  • #14,618
  • May 17, 2012 5:09am May 17, 2012 5:09am
I need to explain why "TREND IS OUR FRIEND". Will do it soon on he thread. Tactical trading is only possible within the trend, and I always advise to follow the trend.

That will save and earn you money. Neglect what other "traders" and "threads" are saying and pay attention here. A lot of good traders post and join the conversation and saying it again: ALWAYS follow the trend, even during the range.. will make an article about it.
  • #14,619
  • May 17, 2012 5:13am May 17, 2012 5:13am
Quoting kbmoonshinex
hello. i go long. stop 2590. tp 2980. everything in chart
Inner trendline can be drawn even lower. But ok..IMO position trading goes with smaller poundage and its not my style to make money with it.

Intraday trading is harder but its more fruitful.
  • #14,620
  • May 17, 2012 5:19am May 17, 2012 5:19am
Quoting T@rantula
Inner trendline can be drawn even lower. But ok..IMO position trading goes with smaller poundage and its not my style to make money with it.

Intraday trading is harder but its more fruitful.
i agree with you that intraday trading is more powerfull than position trading.
looking for investors . pm me
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