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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #35,741
  • Jun 11, 2012 8:45pm Jun 11, 2012 8:45pm
Quoting 100PipsADay
I agree. If it doesn't fit my personality I probably won't pursue this type of trading style. But can't hurt to learn the concepts.

Yes, SwissTrader brings a lot of value to this thread and has been very helpful to me whenever I have questions.
For sure... Always keep learning and studying. Lots of
Vet guys on here from the TA and FA sides to really
Get some
Great info from for lots of different trading styles.

I'm takin it one day at a time right now. Since with so much CB activity and global political turmoil it's a bit
Scary holding positions for too long in my book.

Lookin forward to this summer though... The calm before the US election storm... Lol
  • #35,742
  • Jun 11, 2012 8:47pm Jun 11, 2012 8:47pm
Won't be going long here, but if the market takes us up to the 2620's again I'll try another short - not sure what the catalyst will be though.

At the moment it's over a 100 pips from anywhere that I'd buy or sell, so no mans land, I'll let it work itself out.

Logically though, traders were sellers yesterday and nothing has changed fundamentally so they should be willing to sell again at those levels IMO.
"Don't Panic..."
  • #35,743
  • Jun 11, 2012 8:48pm Jun 11, 2012 8:48pm
I'm waiting for a 38.2% retrace of the drop (1.2533) to add shorts

The DXY is turning down and maybe it'll find support near 82.5 (23.6% daily) then go back up? if that's the case the short trip down should provide an opportunity to re short the euro
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  • #35,744
  • Jun 11, 2012 9:14pm Jun 11, 2012 9:14pm
Quoting 100PipsADay
I agree. If it doesn't fit my personality I probably won't pursue this type of trading style. But can't hurt to learn the concepts.

Yes, SwissTrader brings a lot of value to this thread and has been very helpful to me whenever I have questions.
... See his recent posts #35182 & #35185 with divergence tips for me ...especially the CCI divergence indicator I found particularly helpful as it actually draws both the classical and hidden bullish & bearish divergences right onto the live chart for you!
Attached File(s)
File Type: mq4 CCI_Divergence_V1.1.mq4   12 KB | 237 downloads
File Type: mq4 FX5_MACD_Divergence_V1.1.mq4   12 KB | 249 downloads
File Type: mq4 Stochastic_Divergence V2(2).mq4   6 KB | 197 downloads
File Type: mq4 Symphonie Autorefresh_v3.0.mq4   2 KB | 226 downloads
The spoken word is your master, the unspoken word your slave.
  • #35,745
  • Jun 11, 2012 9:31pm Jun 11, 2012 9:31pm
Quoting CommercialB
... See his recent posts #35182 & #35185 with divergence tips for me ...especially the CCI divergence indicator I found particularly helpful as it actually draws both the classical and hidden bullish & bearish divergences right onto the live chart for you!
Thanks CommercialB.

I actually downloaded those indicators when he posted them!

He's been helping me to understand it better, also, the BabyPips section of "Divergence Trading" helped me out as well.

I also found a Divergence Trading document. Haven't read through it just yet, but I'll be getting to it later on this evening. Now that I think of it, I don't even remember where I downloaded the document from! LOL

I'll post it in case anybody is interested.
Attached File(s)
File Type: pdf DivergenceA.pdf   1.1 MB | 774 downloads
  • #35,746
  • Jun 11, 2012 9:38pm Jun 11, 2012 9:38pm
Quoting CommercialB
... See his recent posts #35182 & #35185 with divergence tips for me ...especially the CCI divergence indicator I found particularly helpful as it actually draws both the classical and hidden bullish & bearish divergences right onto the live chart for you!
Wow.... This saves me so much time!

Thanks!
An opportunity lost is not a capital cost.
  • #35,747
  • Jun 11, 2012 9:44pm Jun 11, 2012 9:44pm
Quoting 100PipsADay
Thanks CommercialB.

I actually downloaded those indicators when he posted them!

He's been helping me to understand it better, also, the BabyPips section of "Divergence Trading" helped me out as well.

I also found a Divergence Trading document. Haven't read through it just yet, but I'll be getting to it later on this evening. Now that I think of it, I don't even remember where I downloaded the document from! LOL

I'll post it in case anybody is interested.
Hey cool pdf..looks good and even comes with it's own video clip! ...will check it out later. I was also trawling through Babypips for divergence too but when it came to "seeing" it on live charts it just wasn't happening for me ... a bit easier now with that CCi indicator.
Gotta go, safe trading all.
The spoken word is your master, the unspoken word your slave.
  • #35,748
  • Jun 11, 2012 10:59pm Jun 11, 2012 10:59pm
Quoting 100PipsADay
Thanks CommercialB.

I actually downloaded those indicators when he posted them!

He's been helping me to understand it better, also, the BabyPips section of "Divergence Trading" helped me out as well.

I also found a Divergence Trading document. Haven't read through it just yet, but I'll be getting to it later on this evening. Now that I think of it, I don't even remember where I downloaded the document from! LOL

I'll post it in case anybody is interested.
Try Using RSI, Try 8,13,18, and 21
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #35,749
  • Jun 11, 2012 11:33pm Jun 11, 2012 11:33pm
idk but this is funny lol

http://www.reuters.com/video/2012/06...Channel=117849

Daniel
  • #35,750
  • Jun 11, 2012 11:39pm Jun 11, 2012 11:39pm
Scalped the 5m bearish divergence at 2504. Hoping we get to 38.2 fibo (2530) for more shorts but if not, at least I'm short again.
An opportunity lost is not a capital cost.
  • #35,751
  • Jun 12, 2012 12:00am Jun 12, 2012 12:00am
@PT and others , whats wrong with this setup? :|
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redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #35,752
  • Jun 12, 2012 12:08am Jun 12, 2012 12:08am
Quoting TheSwede
Not good, Sweden lost. Congrats Ukraine on a well played match. I guess we now have to beat England and France. Hmm not likely.

Edit: Maybe I should cheer for Greece instead?
Oh come on Swede. You can't expect to win Eurovision and Euro 2012 in the same year
Those who say it cannot be done should not interrupt those who are doing it
  • #35,753
  • Jun 12, 2012 12:08am Jun 12, 2012 12:08am
Quoting changbachang
@PT and others , whats wrong with this setup? :|
I guess after a 200 pip movement down without a real retrace, most people who want to be short are already short.

Unless some new information comes out to keep it going, some people are going to cover and try and enter higher.

Divergences don't really guarantee anything as far as I know (I don't use them though).
"Don't Panic..."
  • #35,754
  • Jun 12, 2012 12:11am Jun 12, 2012 12:11am
Quoting Halifax
I guess after a 200 pip movement down without a real retrace, most people who want to be short are already short.

Unless some new information comes out to keep it going, some people are going to cover and try and enter higher.

Divergences don't really guarantee anything as far as I know (I don't use them though).
noted.. lets read and hear what others think too.. :|
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #35,755
  • Jun 12, 2012 12:12am Jun 12, 2012 12:12am
Quoting fxsport
...

Now, can someone PLEASE explain to me why, on this thread, so many people insist on taking long positions in a bear market? I just really don't understand why people can't understand the adage of

The trend is your friend?
Excellent question
Those who say it cannot be done should not interrupt those who are doing it
  • #35,756
  • Jun 12, 2012 12:16am Jun 12, 2012 12:16am
Who is insisting on going long? Except for the low risk long ofr 2440 area after a 200 pip down move (basically a guaranteed retrace is coming off a support area that large)

Closed half of 2x from 2504 at 2494 (+0.1%), letting other half ride until BE or more down
An opportunity lost is not a capital cost.
  • #35,757
  • Jun 12, 2012 12:21am Jun 12, 2012 12:21am
Quoting fxsport

Now, can someone PLEASE explain to me why, on this thread, so many people insist on taking long positions in a bear market? I just really don't understand why people can't understand the adage of

The trend is your friend?
Forex volume is IIRC more than 90% speculative. For speculators to make a profit they have to close shorts, equivalent to buying, you just have to be really fussy about where you go long because only the strongest supports hold in a downtrend where people are taking profit.

If things just went straight down no one would make a profit

I've gone long in this downtrend because the retracements often aren't big enough to hit my sell limits so long at strong support is an option.
"Don't Panic..."
  • #35,758
  • Jun 12, 2012 12:28am Jun 12, 2012 12:28am
Quoting changbachang
@PT and others , whats wrong with this setup? :|
The number one problem I see with your setup is that you opened a short position at the low and used an SL below known resistance. It is as if you were begging the market to take your money.

My preferred method is to short at the high and use an SL above know resistance with a target at next known support in such a way that the risk/reward ratio is at least 1:2
Those who say it cannot be done should not interrupt those who are doing it
  • #35,759
  • Jun 12, 2012 12:31am Jun 12, 2012 12:31am
Quoting Luis Carlos
Mr. Fushikawa. I am still long until break 1.2440
Cancelled my long order as daily close 50% below,I dont want mess with pure daily Candle,Now am waiting the confirmation for short
If there was easy money lying around,no one would be forcing it into your
  • #35,760
  • Jun 12, 2012 12:32am Jun 12, 2012 12:32am
Quoting changbachang
@PT and others , whats wrong with this setup? :|
I don't just look for divergences, I look for divergences + overbought RSI + resistance, such as we got on 2504

Divergence + not overbought/oversold RSI (under 70 or above 30) = meaningless really

Where you shorted, we were heavily over sold intra day.
An opportunity lost is not a capital cost.
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