Attachments: EURUSD

EURUSD

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#645,461
May 21, 2012 2:31pm May 21, 2012 2:31pm

2046
Joined Jul 2010 | Status: Trader | 1,407 Posts

Quoting tomspin

Disliked

Gold is a commodity ergo nice indicator for strenth of the dollar I like to read about it here, there is a thread for it but very quite.

Last high also breached 1.2800 big psychological level and failed to hold above it, now it make even more sense to me to hold that short.
Gotta run
Green pips to all

http://s13.postimage.org/5fw3tsho7/euro.gif
picture hosting

Ignored

hey tomspin,

nice chart, could have worked out well.. unfortunately the advice to put the SL to BE comes too late. 27735 showed clear support and this bullrun is not over with 2820 that close.

#645,462
May 21, 2012 2:32pm May 21, 2012 2:32pm

solsys
| Joined May 2012 | Status: Trader | 167 Posts

Closed my longs @ 1.28088, banked 42 pips.

it's 3:40am in Asia, excruciating wait that nearly hit my stop loss earlier.

There should be more upside but that's for tomorrow.

Goodnight!

#645,463
May 21, 2012 2:38pm May 21, 2012 2:38pm

Fly2
| Joined Nov 2008 | Status: Everyone Breaks Even. | 2,296 Posts

Quoting solsys

Disliked

Closed my longs @ 1.28088, banked 42 pips.

it's 3:40am in Asia, excruciating wait that nearly hit my stop loss earlier.

There should be more upside but that's for tomorrow.

Goodnight!

Ignored

Why close them all? Why not close most and leave one BE? If it keeps running long its more you collect.If not you are still ahead with the others you closed.

#645,464
May 21, 2012 2:39pm May 21, 2012 2:39pm

Johnny Bravo
| Joined Jan 2012 | Status: Trader | 379 Posts

just as i said...long from 1.27550 will test 1.27890, a clear break above it will test 1.28104...Target REACHED

There are two opinions in this world, Mine and the wrong one...

#645,465
May 21, 2012 2:43pm May 21, 2012 2:43pm

solsys
| Joined May 2012 | Status: Trader | 167 Posts

Quoting Fly2

Disliked

Why close them all? Why not close most and leave one BE? If it keeps running long its more you collect.If not you are still ahead with the others you closed.

Ignored

It's easier to sleep and we might see retracement back to support 1.2760 in Asia, I will rather not risk it.

Better to bank the pips as I still have my day job plus my wife and a newborn to take care of as well.

#645,466
May 21, 2012 2:44pm May 21, 2012 2:44pm

solsys
| Joined May 2012 | Status: Trader | 167 Posts

Quoting Johnny Bravo

Disliked

just as i said...long from 1.27550 will test 1.27890, a clear break above it will test 1.28104...Target REACHED

Ignored

*clap clap* glad our patience paid off. Hope everyone made money.

#645,467
May 21, 2012 2:46pm May 21, 2012 2:46pm

todstars2
| Joined Dec 2011 | Status: Trader | 1,121 Posts

1.26251 from january 2012 is the pivot point we are bouncing off of.

i would venture with the strong bounce off this number its time to look for a good long entry now with 2 points under us worth of support.

#645,468
May 21, 2012 2:47pm May 21, 2012 2:47pm

Fly2
| Joined Nov 2008 | Status: Everyone Breaks Even. | 2,296 Posts

Quoting solsys

Disliked

It's easier to sleep and we might see retracement back to support 1.2760 in Asia, I will rather not risk it.

Better to bank the pips as I still have my day job plus my wife and a newborn to take care of as well.

Ignored

thats what I'm saying is that there is no risk.If you had 5 lots on it and closed 4.You have 1 remaining at BE.There is no risk.You still win regardless and if price were to move up another 100-200 pips you will kick yourself tomorrow.I myself like to let winning trades run but thats me

#645,469
May 21, 2012 2:48pm May 21, 2012 2:48pm

Johnny Bravo
| Joined Jan 2012 | Status: Trader | 379 Posts

Quoting solsys

Disliked

*clap clap* glad our patience paid off. Hope everyone made money.

Ignored

thanx for the applause bro...
see you all at 6:00am...its no trading zone for me now

There are two opinions in this world, Mine and the wrong one...

#645,470
May 21, 2012 2:48pm May 21, 2012 2:48pm

todstars2
| Joined Dec 2011 | Status: Trader | 1,121 Posts

the tandem trade I posted a few days back suggest the same with aud moving up right along with eur off this point.

Quoting todstars2

Disliked

Closest low point is 1.26251.

using a tandem trade combining the eur/usd with the aud/usd as an average we are in a solid downtrend as noted by the extreme lows recorded over the last 5 days.

-------------- EUR---- AUD
5/14 2.27700 1.28155 .99545
5/15 2.26418 1.27213 .99205
5/16 2.25499 1.26806 .98693
5/17 2.25437 1.26613 .98824
5/18 2.24365 1.26419 .97946

2.24861 is the turning point for the average.

Ignored

#645,471
May 21, 2012 2:49pm May 21, 2012 2:49pm

Fly2
| Joined Nov 2008 | Status: Everyone Breaks Even. | 2,296 Posts

Glad I took the Aud long as well

#645,472
May 21, 2012 2:51pm May 21, 2012 2:51pm

todstars2
| Joined Dec 2011 | Status: Trader | 1,121 Posts

moves well with the eur/usd pair

Quoting Fly2

Disliked

Glad I took the Aud long as well

Ignored

#645,473
May 21, 2012 2:57pm May 21, 2012 2:57pm

kuroro001
Joined Jul 2007 | Status: Trader | 17,796 Posts

1,284x and 1,288x next.
With this recent PA, it seems it may go straight to 1,288x and overshoot to 1,292x

COT: The precious data ignored

#645,474
May 21, 2012 2:57pm May 21, 2012 2:57pm

solsys
| Joined May 2012 | Status: Trader | 167 Posts

Quoting Fly2

Disliked

thats what I'm saying is that there is no risk.If you had 5 lots on it and closed 4.You have 1 remaining at BE.There is no risk.You still win regardless and if price were to move up another 100-200 pips you will kick yourself tomorrow.I myself like to let winning trades run but thats me

Ignored

Agree with you. I have kicked myself a few times before but have scalped ranges that makes them up as well. Better to bank and close before market takes them away. I used to be greedy while investing in equities and didn't take a profit of USD120k. Thereafter, I saw the market taking them away with Japan's earthquake last year. I stopped trading for a good 6-9mths thereafter. Now I'm just looking to achieve consistency and prudence with focus purely on FX trading, i.e. money management or squirreling money away for safety sake.

Also because it's easier for me to close my trades as my broker will need me to either close individual open trades separately OR close all of them at one shot.......

P.S: I'm using IGmarkets.

Maybe one day my strategy will change with another broker.... Not sure what else is good out there though. Will hear out good advice.

#645,475
May 21, 2012 3:01pm May 21, 2012 3:01pm

Fly2
| Joined Nov 2008 | Status: Everyone Breaks Even. | 2,296 Posts

Quoting solsys

Disliked

Agree with you. I have kicked myself a few times before but have scalped ranges that makes them up as well. Better to bank and close before market takes them away. I used to be greedy while investing in equities and didn't take a profit of USD120k. Thereafter, I saw the market taking them away with Japan's earthquake last year. I stopped trading for a good 6-9mths thereafter. Now I'm just looking to achieve consistency and prudence with focus purely on FX trading, i.e. money management or squirreling money away for safety sake.

Also because it's...

Ignored

Not familiar with them IG--anyway best of luck.Consistency is good.Shows you are making the right decisions.Greed is hard to overcome and lots of patience is needed in this game.

#645,476
May 21, 2012 3:09pm May 21, 2012 3:09pm

tomspin
| Joined Dec 2011 | Status: Trader | 2,927 Posts

Quoting 2046

Disliked

hey tomspin,

nice chart, could have worked out well.. unfortunately the advice to put the SL to BE comes too late. 27735 showed clear support and this bullrun is not over with 2820 that close.

Ignored

Cheers for kind words,

I am at my ladys laptop so I cannot have a full view what went wrong. Stocks pushing euro higher I quess. I was actually 10+ at some point I could've set it at BE but I didn't think NYSE will go for a killing spree.
-10 no biggie
I had my reasons with that trade and I am very happy that I was right today again.
I am building confidence with my trading, it took me a year of hard work to understood and be confident about when to enter. Still have a lot of homework to do especially about exits and how the market moves - and really looking forward to it as I love trading since day one.
Thanks again mate
Kind regards

swing it!