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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #35,121
  • Jun 8, 2012 2:50am Jun 8, 2012 2:50am
Quoting FXSwissTrader
Morning all.

Holy crap batman. What a drop. I'm in 1.2610.
Good morning my good friend. Good to see you hung in there
Don't forget to take partial profit now. No sense being greedy

I am also still in from 1.2587 and 1.2562

Happy green pips to you.
Those who say it cannot be done should not interrupt those who are doing it
  • #35,122
  • Jun 8, 2012 2:50am Jun 8, 2012 2:50am
Quoting FXe
Don't worry. It will go down till 1.24150, then back to 1.24550 and down to 1.2300 to form nice HS on 4H.

That is what i see on 4H
I personally don't see price going to 1.2000 without testing 1.26 again or even higher to 1.27 before the final drop to 1.20 so let watch out
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #35,123
  • Jun 8, 2012 2:52am Jun 8, 2012 2:52am
Quoting ejiexe
I personally don't see price going to 1.2000 without testing 1.26 again or even higher to 1.27 before the final drop to 1.20 so let watch out
let me know yesterday we test what level then
If there was easy money lying around,no one would be forcing it into your
  • #35,124
  • Jun 8, 2012 2:55am Jun 8, 2012 2:55am
Quoting PipTrapper
Good morning my good friend. Good to see you hung in there
Don't forget to take partial profit now. No sense being greedy

I am also still in from 1.2587 and 1.2562

Happy green pips to you.
Morning PT. Don't worry, not greedy here buddy. If we don't break bottom of MML @ 1.2481, I'll take partial and move the rest to trailing sl.


You got two positions in yesterday? wow.
  • #35,125
  • Jun 8, 2012 2:55am Jun 8, 2012 2:55am
Quoting PipTrapper
It's Friday. It's risk-off.

Also there is a big fight at current levels because the bears are chewing through the pending market bids. The fact that it has not popped back up yet is a good sign. I don't think it's oversold. There is no oversold in a bear market. Once the Asians are done buying their Euros at current levels, this puppy will start falling again.
Yeah, I guess I should re enter somewhere, now that everything really looks down.

I'm not paying attention to the big picture very well, I could probably hold a short, go to bed, and wake up to low 1.24 area

Screw it, I already made decent amount and I'm tired, setting sell limit for 2477 and going to bed We'll see what happens.

Gnight and good luck.
An opportunity lost is not a capital cost.
  • #35,126
  • Jun 8, 2012 2:56am Jun 8, 2012 2:56am
Quoting BrunargarFx
I have 1.2518 atm
I'd like to see it to reload otherwise I'll add on break of 1.248
It's very heavy right now so it could break down fast and furious
Better to wait for break of 1.2465 if you want to scale in more.

E/U H1
Attached Image (click to enlarge)
Click to Enlarge Name: eu-h1.gif Size: 48 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #35,127
  • Jun 8, 2012 3:02am Jun 8, 2012 3:02am
Quoting PipTrapper
Better to wait for break of 1.2465 if you want to scale in more.
Was going to set mine to that after you said it, but that 1m candle already triggered 77
An opportunity lost is not a capital cost.
  • #35,128
  • Jun 8, 2012 3:03am Jun 8, 2012 3:03am
Green pips to all today - hope the bear has been good to all of you. Certainly for me, nothing like a good Friday.
  • #35,129
  • Jun 8, 2012 3:03am Jun 8, 2012 3:03am
Quoting BFSGcapital
Was going to set mine to that after you said it, but that 1m candle already triggered 77
Okay we're good now
Those who say it cannot be done should not interrupt those who are doing it
  • #35,130
  • Jun 8, 2012 3:05am Jun 8, 2012 3:05am
Quoting FXMindset
let me know yesterday we test what level then
We tested 1.262x and it bounced hard bcos that level was critical. It was only tested twice after it was broken. If Eu will move from there down to 1.200 then there will be a stop hurt to take out those who have move to BE or those who have lock in some pips. And if it is not then it will break it up when next it was tested. That is just my own view. Though we still have bad news from Eu for now.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #35,131
  • Jun 8, 2012 3:06am Jun 8, 2012 3:06am
Hello traders,

I am new in this thread. So many good traders in here and so many great analysis, i thought i put in my 2 cents as well.

Trade pair is Eur/usd only.

My analysis is for position traders. I use daily time frame for direction and 4 hr for entry. Here are 2 charts .. (daily and 4 hr)

I think the charts are self explanatory to state i am bullish on this pair :-)

i am expecting the 4hr to go to a max of S3 as a retracement and then buying from that area for the whole of next week depending on a 30 pips stop loss (if it does not get hit) else my count is wrong and then back to the drawing board again. :-) good Luck !!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily EW.JPG Size: 65 KB
Click to Enlarge Name: 4 HR VIEW.JPG Size: 107 KB
STING
  • #35,132
  • Jun 8, 2012 3:07am Jun 8, 2012 3:07am
Quoting PipTrapper
Good morning my good friend. Good to see you hung in there
Don't forget to take partial profit now. No sense being greedy

I am also still in from 1.2587 and 1.2562

Happy green pips to you.
Hey PT,
I want to ask you how you manage taking partial profit. For me i seperate my position in partions, for example instead of 0.5 lot i open 5 mini lots and close one order in every important level. Is there a better way to manage it?
  • #35,133
  • Jun 8, 2012 3:08am Jun 8, 2012 3:08am
2 EU source and 1 German source saying Spain is expected to make aid request for it's banks tomorrow.
  • #35,134
  • Jun 8, 2012 3:08am Jun 8, 2012 3:08am
Now i'm waiting for 1.24350
  • #35,135
  • Jun 8, 2012 3:10am Jun 8, 2012 3:10am
Good day!! Had an EU short early in the week, dont know why i entered it. I kicked myself for it, as i saw it up go against me 120 pips. Glad i kept it (bad MM if you ask me), but added more shorts to it (3 total). I tried the martingale strategy that PT described a few weeks ago, did it work? Yes, but at an emotional cost. Im back to the drawing board now, going to keep those 3 shorts open for a bit (also have an EJ short since 99.95, basic S/R strat i employ).

Prob will close at the end of the day, as i cant be near my laptop while working... Hopefully i can break even this month, its been nearly 6 months since i was BE with my account!! Once i do break even, i will double my account, a present for myself if i ever get back to neutral or positive heh.

One key thing i learned.. Try to not be 'emotional,' it will bread good and bad emotions while trading.... Robot essentially.. But its hard, since humans have feelings.
  • #35,136
  • Jun 8, 2012 3:11am Jun 8, 2012 3:11am
Quoting ejiexe
We tested 1.262x and it bounced hard bcos that level was critical. It was only tested twice after it was broken. If Eu will move from there down to 1.200 then there will be a stop hurt to take out those who have move to BE or those who have lock in some pips. And if it is not then it will break it up when next it was tested. That is just my own view. Though we still have bad news from Eu for now.
I hear what you're saying, but you must never argue with a bullet train. It doesn't matter if it is bear or bull. Today is risk off.

Of course 1.20 is out of reach for today when you use rational thinking. A more likely closing target for today is 1.2415 to 1.2445. However, nothing says it cannot go further. It's Friday, it's major risk-off and the weak shorts have already been eliminated.

AS for a rebound, yes absolutely, but 1.2620 is history now. Any rebound will most likely be well capped by 1.2525 now.
Those who say it cannot be done should not interrupt those who are doing it
  • #35,137
  • Jun 8, 2012 3:14am Jun 8, 2012 3:14am
Quoting mka_78
Hey PT,
I want to ask you how you manage taking partial profit. For me i seperate my position in partions, for example instead of 0.5 lot i open 5 mini lots and close one order in every important level. Is there a better way to manage it?
My platform allows me to close partial. For example if I have 0.5 lots, I can close 0.1 lots and the original trade becomes 0.4 lots
Those who say it cannot be done should not interrupt those who are doing it
  • #35,138
  • Jun 8, 2012 3:20am Jun 8, 2012 3:20am
Quoting PipTrapper
My platform allows me to close partial. For example if I have 0.5 lots, I can close 0.1 lots and the original trade becomes 0.4 lots
interesting
does that depend on MT4 platform or the broker?
  • #35,139
  • Jun 8, 2012 3:21am Jun 8, 2012 3:21am
Quoting PipTrapper
My platform allows me to close partial. For example if I have 0.5 lots, I can close 0.1 lots and the original trade becomes 0.4 lots

for that i had to call at the broker and ask to let me trade with minilots from 0.1 to 1.0. and after that my broker setup mone over there and that it ..!!! so call the broker and talk with it ... i use mt4..so i think P.T. the same dontu u? P.T. ??
  • #35,140
  • Jun 8, 2012 3:24am Jun 8, 2012 3:24am
Quoting mka_78
interesting
does that depend on MT4 platform or the broker?
Quoting aurel_79
for that i had to call at the broker and ask to let me trade with minilots from 0.1 to 1.0. and after that my broker setup mone over there and that it ..!!! so call the broker and talk with it ... i use mt4..so i think P.T. the same dontu u? P.T. ??
It's a broker thing. With my broker the minimum partial close is 0.1 lots (1 mini lot). If your platform will not allow you to partial close, call your broker. If your broker will not support partial close, then you have to use multiple position when you take a trade and then close each one at each target level.
Those who say it cannot be done should not interrupt those who are doing it
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