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  • #14,621
  • May 17, 2012 5:21am May 17, 2012 5:21am
Quoting kbmoonshinex
i agree with you.
Nevertheless brave entry
  • #14,622
  • May 17, 2012 5:57am May 17, 2012 5:57am
WS opens in 30 mins, lets see if they spike up the sell later again. Ill calculate levels in 5mins..
  • #14,623
  • May 17, 2012 6:07am May 17, 2012 6:07am
Quoting T@rantula
WS opens in 30 mins, lets see if they spike up the sell later again. Ill calculate levels in 5mins..
2735 is important level. Above i have 2761.

2735 is cross session resistance. 2700 is hourly PP. 2685 2664 2651 are levels to the downside.

2665 has stopped the rally down and tomorrow is Friday. 2625 is very important.
  • #14,624
  • May 17, 2012 6:49am May 17, 2012 6:49am
Perfect rejection from DPP. Thats how they do it, they spike it up and then FOLLOW THE TREND.

Now...we are really close to january low, so the trend may lose steam a bit. We need to see daily close and break of 2650.
  • #14,625
  • May 17, 2012 7:09am May 17, 2012 7:09am
Rejection of S1, potential bullish butterfly pattern, I'm long (heavy) @ 1.2701 , SL 50pts (will bring it to BE asap).

My short trades were closed at BE. i cocked up in the set up (covering) @ S1...

Also just noticed, GOld has risen 300pts today.
This is a short covering countertrade
  • #14,626
  • May 17, 2012 7:12am May 17, 2012 7:12am
Quoting BrunargarFx
rejection of S1, potential bullish butterfly pattern, I'm long (heavy) @ 1.2701 , SL 50pts (will bring it to BE asap).

My short trades were closed at BE. i cocked up in the set up (covering) @ S1...
Im flat atm, will play out at important levels. Was short @ 2712 closed @ 2692.

Would like to see 2761-65 reaction if any...its hard for me to play counter trends in strong bearish market. I prefer to sell the rallies.
  • #14,627
  • May 17, 2012 7:23am May 17, 2012 7:23am
Pullback could be short lived as we did not manage to break 1.273x area. So I have put my SL @BE.
However this PB is long overdue and there was a strong reaction @ 1.2686, just above S1, so well worth a shot.

Quoting T@rantula
Im flat atm, will play out at important levels. Was short @ 2712 closed @ 2692.

Would like to see 2761-65 reaction if any...its hard for me to play counter trends in strong bearish market. I prefer to sell the rallies.
  • #14,628
  • May 17, 2012 7:27am May 17, 2012 7:27am
Quoting BrunargarFx
Pullback could be short lived as we did not manage to break 1.273x area. So I have put my SL @BE.
However this PB is long overdue and there was a strong reaction @ 1.2686, just above S1, so well worth a shot.
They read our thread hahah

Quoting T@rantula
2735 is important level. Above i have 2761.

2735 is cross session resistance. .
  • #14,629
  • May 17, 2012 7:28am May 17, 2012 7:28am
Defo, I have jsut been S/O @ BE
Quoting T@rantula
They read our thread hahah
  • #14,630
  • May 17, 2012 7:33am May 17, 2012 7:33am
Today I'm the king of the loosers. I could have banked a lot but didn't
I lost a bit as well




Quoting BrunargarFx
Defo, I have jsut been S/O @ BE
  • #14,631
  • May 17, 2012 7:34am May 17, 2012 7:34am
Quoting BrunargarFx
Defo, I have jsut been S/O @ BE
They do it sometimes...They know where the stops lie and then they spike it up thus creating a false breakout and a false signal. THis could have been the last push to the upside. Lets see.
  • #14,632
  • May 17, 2012 7:35am May 17, 2012 7:35am
Quoting BrunargarFx
Today I'm the king of the loosers. I could have banked a lot but didn't
I lost a bit as well

Hope its not much m8. What trades were u on?
  • #14,633
  • May 17, 2012 8:01am May 17, 2012 8:01am
No, it's not much (thansk for asking) but considering what I would have gained, I'm crying.

This is where I need to focus more. Covering at selected levels and not letting it run.

I'm careful at countertrading though



Quoting T@rantula
Hope its not much m8. What trades were u on?
  • #14,634
  • May 17, 2012 8:51am May 17, 2012 8:51am
Quoting BrunargarFx
No, it's not much (thansk for asking) but considering what I would have gained, I'm crying.

This is where I need to focus more. Covering at selected levels and not letting it run.

I'm careful at countertrading though
It happens sometimes. Dont despair, there will be much more opportunities. Its important to respect SL, always, as it will save us always and if positioned where it should be it can reverse the loss and put us in profit.

SL is the most important thing when setting up trades, as we -the traders are risk managers after all.
  • #14,635
  • May 17, 2012 9:08am May 17, 2012 9:08am
Yes, that's really the core of it all, risk managers
Quoting T@rantula
It happens sometimes. Dont despair, there will be much more opportunities. Its important to respect SL, always, as it will save us always and if positioned where it should be it can reverse the loss and put us in profit.

SL is the most important thing when setting up trades, as we -the traders are risk managers after all.
  • #14,636
  • May 18, 2012 12:37am May 18, 2012 12:37am
Good morning guys,

nothing new to add as I have covered the analysis last few days...everything goes as planned 2640 has been hit, Ultimate target 2625. Its very important level.

Break of it leads to 2575 and ultimately the target moves to BIG psych level 2500.
  • #14,637
  • May 18, 2012 12:57am May 18, 2012 12:57am
2695 is currently resistance and important for intraday bears. Price has been slowly grinding to the downside this morning and this is the 2nd swing we are in.
  • #14,638
  • May 18, 2012 1:01am May 18, 2012 1:01am
Hi T and all,
Good morning
It went down overnight and without me (I had a short but closed it so that I wouldnt let the trade overnight).

We are way overdue a correction but we are still on a steep slope.
I wouldn't be surprised to see more down today.
However and because it's Friday, the covering may be happening toward the end of afternoon.
I won't short this now but may set up my traps on the way up. will be patiently waiting

Quoting T@rantula
Good morning guys,

nothing new to add as I have covered the analysis last few days...everything goes as planned 2640 has been hit, Ultimate target 2625. Its very important level.

Break of it leads to 2575 and ultimately the target moves to BIG psych level 2500.
  • #14,639
  • May 18, 2012 1:17am May 18, 2012 1:17am
Quoting BrunargarFx
However and because it's Friday, the covering may be happening toward the end of afternoon.
I won't short this now but may set up my traps on the way up. will be patiently waiting
Exactly. Its Friday and EU has reached BIG level ( 2640) without big retracement. If shorts close their positions it might lead again to 2750+.

Still ITS FRIDAY as you say, so the move UP shouldnt be of any surprise.

NO REAL BEARS below 2930 so we still follow the trend.
  • #14,640
  • May 18, 2012 2:38am May 18, 2012 2:38am
Im countering the trend small risk

E: 2690
SL:2674
TP:2720
TP2:2750

Reason. m5 candles, friday profit taking, retracement needed on h4
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