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  • #650,641
  • Jun 1, 2012 9:13am Jun 1, 2012 9:13am
This is a post you wished you had read earlier. Enjoy

http://www.forexfactory.com/showthre...14#post5720114

BTW, hope no one got their account wiped?
Don't just beat the markets, leave bruises.
  • #650,642
  • Jun 1, 2012 9:13am Jun 1, 2012 9:13am
For those who trade Gold, there is a butterfly forming, waiting for this hour to end, to see whether the butterfly pattern is breached, if not, short to fib retracements.

http://i49.tinypic.com/25qunh5.png
  • #650,643
  • Jun 1, 2012 9:14am Jun 1, 2012 9:14am
Quoting Hookem28
This morning's news created a great selling opportunity as long as we don't get more QE3 talk from the Fed.
The current Congress will not want another stimulus with the upcoming election.

Not that they have much if any ammo left, but might we see a coordinated action by central banks? On the other hand, a cheap EUR is great for exports.
"The market can remain irrational longer than you can remain solvent"
  • #650,644
  • Jun 1, 2012 9:17am Jun 1, 2012 9:17am
Quoting forextraderx
Wellllll... actually, it kinda goes back to what were were discussing earlier Tight.... about the 1.2300 level having that option on it... and below it... a large amount of stop losses (that would be the stop losses of the option buyer...who was trying to keep price above 1.2300...and created that bounce i mentioned)

So... they were buying large amounts of e/u, to try to keep it up and make a profit at a higher level, to offset the amount they would lose if that 1.2300 level was hit.

And of course, because once 1.2300 was hit... they had no...
its midnight here champ.that to much to read. all im saying. 40 pips movement. on the minute chart went about 10 pips below 1.23, two spikes down. i always use a trailing stop. assume most do. so to get the whole move you had to be shooting high to start with. and not get caught out by your trailing stop or get hit by the peak down to 1.22879. thats what like 15 pips below. i dont know where everyone keeps their stops. my own would be 10 pips below where i expected the worst case

ps i agreed and said i expected a move up. to refresh the sells
  • #650,645
  • Jun 1, 2012 9:20am Jun 1, 2012 9:20am
Oh lordy lordy what should I do now?

I don't have a plan to trade post NFP but I am really not happy ending the day with nothing.

Jesus, SHOW ME THE GREEN PIPS!
  • #650,646
  • Jun 1, 2012 9:24am Jun 1, 2012 9:24am
looks like the 1hr trend line is holding?
  • #650,647
  • Jun 1, 2012 9:25am Jun 1, 2012 9:25am
Quoting Esssex
Chill bro, at least you got 50pips...
damm gbp. i am in loss today after a long time(small loss though)
  • #650,648
  • Jun 1, 2012 9:26am Jun 1, 2012 9:26am
1.24 is my target for going long.
  • #650,649
  • Jun 1, 2012 9:27am Jun 1, 2012 9:27am
Quoting Nachiket
damm gbp. i am in loss today after a long time(small loss though)
hope this is not a trend reversal for u
  • #650,650
  • Jun 1, 2012 9:27am Jun 1, 2012 9:27am
Quoting Esssex
Oh lordy lordy what should I do now?

I don't have a plan to trade post NFP but I am really not happy ending the day with nothing.

Jesus, SHOW ME THE GREEN PIPS!
Do the opposite of what people suggest, using a disciplined entry and exit and you should do fine.
  • #650,651
  • Jun 1, 2012 9:27am Jun 1, 2012 9:27am
Ranging between 1,2425 and 1,2375 for the rest of day ?
COT: The precious data ignored
  • #650,652
  • Jun 1, 2012 9:28am Jun 1, 2012 9:28am
anyone else planned to buy gold
Alternatives are more important than the plan itself
  • #650,653
  • Jun 1, 2012 9:28am Jun 1, 2012 9:28am
The Euro bulls are putting up a fight atleast. But this price action is showing a rejection in my opinion.
  • #650,654
  • Jun 1, 2012 9:28am Jun 1, 2012 9:28am
Quoting Hookem28
Do the opposite of what people suggest, using a disciplined entry and exit and you should do fine.
HAHAHA. Building on the whole scammers on FF theory?

I'll just wait for now, the markets are ranging.
  • #650,655
  • Jun 1, 2012 9:29am Jun 1, 2012 9:29am
Quoting forexings
This is called an idiot bull. Hardly buying to get slapped again next week. How pity
It was an excellent condition for 50+ pips sellers.
If euro wish to rise in longer term bull must stay below 2350 and next week with tight range below 2400 but not lower than 2290.
If bull breaks bearish HTL at upper price there will buildup another new down trend. I wish bull won't give such chance. Let's see what bear/bull can do.
You cannot learn better without losing
  • #650,656
  • Jun 1, 2012 9:29am Jun 1, 2012 9:29am
Green pips to all have a nice weekend!
  • #650,657
  • Jun 1, 2012 9:29am Jun 1, 2012 9:29am
Quoting Z Capitals
hope this is not a trend reversal for u
not much loss. if i trade today i will recover entire loss but i am fed up today with the gbp and also want to relax and get geared up for next week.
  • #650,658
  • Jun 1, 2012 9:29am Jun 1, 2012 9:29am
Quoting tightscalper
its midnight here champ.that to much to read.
I think I feel the same way, and that just about sums it up IMO for now. Anyway... good chatting tight, hope your day was profitable.... and hope mine is come monday.

X
  • #650,659
  • Jun 1, 2012 9:30am Jun 1, 2012 9:30am
Quoting -Melo-
anyone else planned to buy gold
yes
  • #650,660
  • Jun 1, 2012 9:30am Jun 1, 2012 9:30am
Quoting Nachiket
not much loss. if i trade today i will recover entire loss but i am fed up today with the gbp and also want to relax and get geared up for next week.
also have left u a message. have a look at it.
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