EurAnalysis | Page 1587 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

EurAnalysis Kindergarten 24 replies

Attachments: EurAnalysis
Exit Attachments

EurAnalysis

  • #31,721
  • May 22, 2012 7:36am May 22, 2012 7:36am
Quoting FXSwissTrader
I got filled @ 102.00.
Excellent
You showed patience. I said "screw it... close enough"
Those who say it cannot be done should not interrupt those who are doing it
  • #31,722
  • May 22, 2012 7:36am May 22, 2012 7:36am
Quoting PipTrapper
Here's some good advice for all the noods lurking this thread.

Patience is the only attribute that is going to make you any money in this business.

You must always plan you trades in advance. Find your targets, set you sights on it, know your exit points (profit and loss) and most importantly, stick to the plan till the end unless changing conditions dictate otherwise.

Money management is probably the most important of all. Never over-leverage yourself. It's all in the entry. Don't enter when it...
Very good advice PT. They should pay heed.
Mark ... Everything you have been told is a LIE
  • #31,723
  • May 22, 2012 7:37am May 22, 2012 7:37am
Quoting PipTrapper
Best of luck to both of us.
Yup to you too .

First attempt at a long term trade (100+ pips). I see why you went short here too, makes a lot of sense
An opportunity lost is not a capital cost.
  • #31,724
  • May 22, 2012 8:11am May 22, 2012 8:11am
Goodluck all on short ej...... keep fingers crossed for intervention
There are no right and wrong decisions......Only timely decisions
  • #31,725
  • May 22, 2012 8:25am May 22, 2012 8:25am
we are not done with this level yet...

Attached Image (click to enlarge)
Click to Enlarge Name: genuinelyFX_2012.05.22_eurusd_h4.jpg Size: 93 KB
charting the euro...
  • #31,726
  • May 22, 2012 8:38am May 22, 2012 8:38am
Quoting PipTrapper
Excellent
You showed patience. I said "screw it... close enough"
Got in @ 101.89 with half lot, looks a bit early but I have PT's hammer with me Personally I think it can spike up to 103 area and that is where I'll add to short.
  • #31,727
  • May 22, 2012 8:40am May 22, 2012 8:40am
Quoting PipTrapper
Best of luck to both of us.
Great minds think alike! Good luck to you guys!
Attached Image (click to enlarge)
Click to Enlarge Name: e.png Size: 34 KB
I have multiple personalities... Bull today Bear tomorrow!
  • #31,728
  • May 22, 2012 8:45am May 22, 2012 8:45am
Quoting PipTrapper
Here's some good advice for all the noods lurking this thread.

Patience is the only attribute that is going to make you any money in this business.

The markets are mainly driven by greed and fear. The key to being patient is finding the fulcrum between fear and greed. This is psychological warfare.

The reason 90 to 95 percent of all retail Forex traders fail to succeed, is fear, greed or both.

You must always plan you trades in advance. Find your targets, set you sights on it, know your exit points (profit and loss) and most importantly, stick...
Damn, found me out!! I cant lurk while invisible anymore!
  • #31,729
  • May 22, 2012 8:47am May 22, 2012 8:47am
Quoting hunter101
Damn, found me out!! I cant lurk while invisible anymore!
So you're the CIA spy?
Those who say it cannot be done should not interrupt those who are doing it
  • #31,730
  • May 22, 2012 8:48am May 22, 2012 8:48am
Quoting PipTrapper
EUR/JPY short triggered at 101.97

Target is around 98.70/98.90 area (300 pips)

Mental stop loss around 103.50 area (150 pips)

E/J H1
Attachment

Reason for you to go short here? 300 TP!?! I would be scared sh@tless to hold something like that (noob here).
  • #31,731
  • May 22, 2012 8:50am May 22, 2012 8:50am
Quoting PipTrapper
So you're the CIA spy?

They required a GPA of 3.3, sadly i was not near that...
  • #31,732
  • May 22, 2012 8:55am May 22, 2012 8:55am
Quoting hunter101
Reason for you to go short here? 300 TP!?! I would be scared sh@tless to hold something like that (noob here).
PT entered at 23.6% fibo and a MA is there as well (look at chart). is this correct PT. I am noob here too but I am going to stick with plan and hold it, PATIENCE is the key
  • #31,733
  • May 22, 2012 8:58am May 22, 2012 8:58am
tried stop hunting the tight stops looks like. added to shorts at 102.01 (because i sold a tiny amount first time)
An opportunity lost is not a capital cost.
  • #31,734
  • May 22, 2012 9:01am May 22, 2012 9:01am
Quoting hunter101
Reason for you to go short here? 300 TP!?! I would be scared sh@tless to hold something like that (noob here).
You show fear. With the right money management, there is no need to fear.

As for reason, I highlighted that yesterday. 101.90 is a historically strong support/resistance area on a daily candle close basis.

The target is based on the 88.6 fibo retrace (€98.66)

E/J Daily
Attached Image (click to enlarge)
Click to Enlarge Name: ej-d1.gif Size: 47 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #31,735
  • May 22, 2012 9:04am May 22, 2012 9:04am
Quoting The_Genious
PT entered at 23.6% fibo and a MA is there as well (look at chart). is this correct PT. I am noob here too but I am going to stick with plan and hold it, PATIENCE is the key
Yes that is correct. 23.6 fibo and 89 smma(typical) on H1 chart.

ADD: Trade reason based on daily chart. Trade entry based on H1 chart.
Those who say it cannot be done should not interrupt those who are doing it
  • #31,736
  • May 22, 2012 9:08am May 22, 2012 9:08am
Quoting PipTrapper
You show fear. With the right money management, there is no need to fear.

As for reason, I highlighted that yesterday. 101.90 is a historically strong support/resistance area on a daily candle close basis.

The target is based on the 88.6 fibo retrace (€98.66)

E/J Daily
Attachment

PT. You draw your own Fibo or auto indi? Off the daily or hourly?
  • #31,737
  • May 22, 2012 9:10am May 22, 2012 9:10am
Quoting PipTrapper
You show fear. With the right money management, there is no need to fear.

As for reason, I highlighted that yesterday. 101.90 is a historically strong support/resistance area on a daily candle close basis.

The target is based on the 88.6 fibo retrace (€98.66)

E/J Daily
Attachment

Yea, MM is key... Im at 6:1 leverage. I will bring it down to 3 or 2:1.

Since a few big losses, i taken a step back. Get away essentially. BUT i always find time to read this thread (and another). Makes my day

Crazy volatility now, Euro spiking really fast. Big news coming out?
  • #31,738
  • May 22, 2012 9:12am May 22, 2012 9:12am
Quoting FXSwissTrader
PT. You draw your own Fibo or auto indi? Off the daily or hourly?
I always draw my own. Yes I am lazy, but not that lazy

The fibo on the daily is different than the one on the H1 chart. There are always several waves in play at any one time. Larger TFs and smaller TF waves differ greatly but they are all fractal. Right now we are in a small time frame (H1) exhausted uptrend and in a "very much alive and healthy" downtrend on large time frame (D1).
Those who say it cannot be done should not interrupt those who are doing it
  • #31,739
  • May 22, 2012 9:12am May 22, 2012 9:12am
SP and DOW breaking the 200EMA, will euro follow them closely in correlation like yesterday?

Attached Image (click to enlarge)
Click to Enlarge Name: genuinelyFX_2012.05.22_spx&dow_daily.jpg Size: 177 KB
charting the euro...
  • #31,740
  • May 22, 2012 9:13am May 22, 2012 9:13am
Quoting hunter101
Yea, MM is key... Im at 6:1 leverage. I will bring it down to 3 or 2:1.

Since a few big losses, i taken a step back. Get away essentially. BUT i always find time to read this thread (and another). Makes my day

Crazy volatility now, Euro spiking really fast. Big news coming out?
Fear and greed at battle. Fear and Greed always lose. Patience wins
Those who say it cannot be done should not interrupt those who are doing it
148 traders viewing now