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  • #651,021
  • Jun 4, 2012 4:42am Jun 4, 2012 4:42am
The reason why someone could sell here, and why kiwi sold over here is relatively simple. If you'd have traded the past few days, you would've noticed that 1.2428-30 is a pretty good S/R zone, it failed to cope with it a few days ago (both as support an resistance) and is taken in account (historically) as a minor S/R zone.

If you do the math on that, and add the low volumes of today in the equation, you'd see that the chances are pretty slim it will cross it.

There's a logic in everything, and if it does cross it ... hey, it's 15 pips. If it doesn't, i might be a fall during NY tonight, and it would reach to 1.2360-80 ... now hey, that's 65-85 pips. At a R:R of at least 4, I'm comfortable with a loss.
Please, just slap me around if I'm being silly ...
  • #651,022
  • Jun 4, 2012 4:45am Jun 4, 2012 4:45am
Quoting Esssex
@KiwiTrada Nice position! Good entry and SL.

@daemon_delux you got that right. Everything is fundie driven today and in fact the whole of last week.

I suspect the ECB is buying up Spanish bonds as well as BOJ intervening with the JPY. Price movements are pretty weird if I must say.
BOJ intervening? you kidding JPY has fallen 6 pips in last 2 hrs.

DON'T TALK SHIT PLS.
  • #651,023
  • Jun 4, 2012 4:46am Jun 4, 2012 4:46am
Another short from 2427, TP 1.2360, SL 1.2435. Tight Sl's, as usual, maybe a position building to lower areas.

LE : stopped out, 18 pips total. A loss I can handle.
Please, just slap me around if I'm being silly ...
  • #651,024
  • Jun 4, 2012 4:46am Jun 4, 2012 4:46am
Quoting Nachiket
BOJ intervening? you kidding JPY has fallen 6 pips in last 2 hrs.

DON'T TALK SHIT PLS.
as far as ecb is concerned I can't comment on it.
  • #651,025
  • Jun 4, 2012 4:48am Jun 4, 2012 4:48am
Today is LONG, guys! Target 1.25
Only under 1.23 will open for short trades....

Regards
  • #651,026
  • Jun 4, 2012 4:49am Jun 4, 2012 4:49am
Quoting fxkiller
view
  • #651,027
  • Jun 4, 2012 4:52am Jun 4, 2012 4:52am
Quoting Nachiket
BOJ intervening? you kidding JPY has fallen 6 pips in last 2 hrs.

DON'T TALK SHIT PLS.


You obviously have no idea of the range they are trying to keep the JPY at do you?
  • #651,028
  • Jun 4, 2012 4:53am Jun 4, 2012 4:53am
Quoting Esssex


You obviously have no idea of the range they are trying to keep the JPY at do you?

I am seeing my charts and they tell me its flat. also eur/jpy is in 30 pip range.

DON'T TELL ME YOUR SHIRAKAWA's secretary to know everything.
  • #651,029
  • Jun 4, 2012 4:55am Jun 4, 2012 4:55am
Quoting nicogaglia
Today is LONG, guys! Target 1.25
Only under 1.23 will open for short trades....

Regards

and any reason to be bullish other than the PA for last 15 mins,

ECB would be a fool to buy spanish bonds rite now. they are going to junk slowly.
  • #651,030
  • Jun 4, 2012 5:00am Jun 4, 2012 5:00am
Quoting rattyo
Possibly 4 steps ahead ?
Rule #6

The 10 Rules
1. Never Let a Winner Turn Into a Loser
2. Logic Wins, Impulse Kills
3. Never Risk More Than 2% per Trade
4. Trigger Fundamentally, Enter and Exit Technically
5. Always Pair Strong With Weak
6. Being Right but Being Early Simply Means That You Are Wrong
7. Know the Difference Between Scaling In and Adding to a Loser
8. What is Mathematically Optimal Is Psychologically Impossible
9. Risk Can Be Predetermined, but Reward Is Unpredictable
10. No Excuses, Ever

http://www.investopedia.com/universi...#ixzz1wojSCs9r
Daily Target: 20 pips
  • #651,031
  • Jun 4, 2012 5:01am Jun 4, 2012 5:01am
Nachiket is now on my ignore list. Empty vessels make the most noise.
  • #651,032
  • Jun 4, 2012 5:01am Jun 4, 2012 5:01am
e/u in my view :
Attached Image (click to enlarge)
Click to Enlarge Name: cvbeu.PNG Size: 47 KB
More on my Blog...
  • #651,033
  • Jun 4, 2012 5:04am Jun 4, 2012 5:04am
Quoting daemon_delux
Another short from 2427, TP 1.2360, SL 1.2435. Tight Sl's, as usual, maybe a position building to lower areas.

LE : stopped out, 18 pips total. A loss I can handle.
My fingers are also itchy to add more shorts in this area, should have made my first shorting position this morning a bit smaller, thought it would break faster...
Just waiting now and watching it bounce the R again and again and...
  • #651,034
  • Jun 4, 2012 5:05am Jun 4, 2012 5:05am
Quoting Esssex
Nachiket is now on my ignore list. Empty vessels make the most noise.
empty accounts talk shit most of the times.

ECB buying spanish bonds from whom? you?
  • #651,035
  • Jun 4, 2012 5:07am Jun 4, 2012 5:07am
Quoting daemon_delux
Oh, and technicals guy ... you know you have 3 shooting stars one after another on the M30, right?

Technicals are shit for today's markets, they come in handy when fundies are not the basics. if the euro and the dollar had the same power, then yes, technicals ... else, fundies all the way.
Well my friend shooting stars, doji's engulfing patterns works only at the resistance or support and those three you have mentioned formed in no man's land between 12435 & 12385 which is daily pivot point on my chart.
Btw my gold was stoped out.
I keep one idea in my mind - all fundamentals have their reflection in candles but sudden news can always revers any of those patterns - simple
swing it!
  • #651,036
  • Jun 4, 2012 5:16am Jun 4, 2012 5:16am
Quoting BFSGcapital
i have a few different scalps. micro scalp high confidence, 3-5 pip target and s/l, 1.5x leverage

mini scalp, target 7-10 pips, 3-5 pip s/l, 2x leverage

mini scalp high confidence, target 7-10 pips, 3-5 pip s/l 3x leverage

scalp high confidence, target 15-20 pips, s/l 7-10 pips, 4x leverage



if price action is in favor of the scalp, i'll let it run for more than the take profit. meaning if i scalp the peak, and it looks like its going to roll over and run for 40-100 pips, i'll let it.

edit: such as this trade for instance, we...
Great to know your trading method, I use only direction of the market for 5-20pips target and stop loss -20pips per transaction.
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #651,037
  • Jun 4, 2012 5:16am Jun 4, 2012 5:16am
Quoting fxkiller
Thanks for the chart Killer!
  • #651,038
  • Jun 4, 2012 5:17am Jun 4, 2012 5:17am
not bcoz of ecb buying spanish bonds
  • #651,039
  • Jun 4, 2012 5:35am Jun 4, 2012 5:35am
Quoting Nachiket
not bcoz of ecb buying spanish bonds
hi nachiket

pls check ur PM
  • #651,040
  • Jun 4, 2012 5:40am Jun 4, 2012 5:40am
I'm waiting scalp short from 1.2440, target 5-20pips & stop 1.2460
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
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