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  • #668,261
  • Jul 13, 2012 9:08am Jul 13, 2012 9:08am
Quoting almo
Here's my take on where this is going.
If it can keep momentum much higher than this. Based on Weekly and monthly figures there seems to be some heavy support around this levels.
I agree with you on 4H base theory
  • #668,262
  • Jul 13, 2012 9:09am Jul 13, 2012 9:09am
Quoting hakankhan
toward 1.2285.


EURUSD H4 your right, i think
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  • #668,263
  • Jul 13, 2012 9:09am Jul 13, 2012 9:09am
Quoting jonnypants
ok man good luck with that
it strikes me that you're trying to pick the bottom?
wise man said to me many years ago - he who pick bottom get smelly fingers....
Who said anything about a bottom?

EUR going back to parity - that much is a given.


The only thing is - nothing moves in a straight line, and one needs to keep an eye on all the TF's to understand why and when retracements will happen.
  • #668,264
  • Jul 13, 2012 9:11am Jul 13, 2012 9:11am
Quoting jonnypants
ok man good luck with that
it strikes me that you're trying to pick the bottom?
wise man said to me many years ago - he who pick bottom get smelly fingers....
but... using some special tool can do the job ..
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  • #668,265
  • Jul 13, 2012 9:13am Jul 13, 2012 9:13am
Quoting Piters
better go home, have a rest.. the trading is over for the weekend.. If you didnt took long on the breakout.. now is too late..

that buying power accross.. is scary to do anything.. come fresh on monday..

cheers
wise words, piters man hope you well!
seen some of your 'good sh!t' in the useless thread
did u see that bounce in gold!!!???
  • #668,266
  • Jul 13, 2012 9:13am Jul 13, 2012 9:13am
Quoting MackS10
If it can keep momentum much higher than this. Based on Weekly and monthly figures there seems to be some heavy support around this levels.
I agree with you on 4H base theory
ty Mack


@Johnnypants - perhaps you can post a chart with your opposing view? It might shed some light on what your seeing that suggests this is a better time to short than go long.
  • #668,267
  • Jul 13, 2012 9:14am Jul 13, 2012 9:14am
This is what I see on 4h (possible bounce off channel top)
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  • #668,268
  • Jul 13, 2012 9:14am Jul 13, 2012 9:14am
Quoting jonnypants
wise words, piters man hope you well!
seen some of your 'good sh!t' in the useless thread
did u see that bounce in gold!!!???
yes, i closed my gold.. but still running my EUR longs..
  • #668,269
  • Jul 13, 2012 9:17am Jul 13, 2012 9:17am
Quoting Myo
This is what I see on 4h (possible bounce off channel top)
I see that channel top also - that's the only reason I can see that today might just end up being a sideways kind of day.
  • #668,270
  • Jul 13, 2012 9:18am Jul 13, 2012 9:18am
Quoting Piters
better go home, have a rest.. the trading is over for the weekend.. If you didnt took long on the breakout.. now is too late..

that buying power accross.. is scary to do anything.. come fresh on monday..

cheers
I am already at home

I am asking to learn not to earn money. What you are saying is that I should have been waiting for a breakout to enter long? Is this what you mean? Entering short at the resistance and long at the support is not a good idea?
  • #668,271
  • Jul 13, 2012 9:18am Jul 13, 2012 9:18am
Quoting almo
Who said anything about a bottom?

EUR going back to parity - that much is a given.


The only thing is - nothing moves in a straight line, and one needs to keep an eye on all the TF's to understand why and when retracements will happen.
don't bet your house on it - the germans kapitulate and start bailing out/printing and it goes the other way quick ....
but yeah everything retraces, me just trying to work out the best timing, lol
  • #668,272
  • Jul 13, 2012 9:20am Jul 13, 2012 9:20am
If you want to succeed in this game you must realize that nothing...
Nothing is given.
  • #668,273
  • Jul 13, 2012 9:26am Jul 13, 2012 9:26am
Quoting koliva
I am already at home

I am asking to learn not to earn money. What you are saying is that I should have been waiting for a breakout to enter long? Is this what you mean? Entering short at the resistance and long at the support is not a good idea?
there are many ways to skin the cat.. someone is riding the trend, someone wait for breakouts, some are picking the tops/bottoms or counter-trading,

then you have position traders, swing traders and scalpers.. all those are depends of the style they are willing to run trading the FX market, long term, swings or short term [intraday]

I know one thing for sure.. no one can tell you where the market is going.. as NO ONE KNOWS>.

be aware of fortune tellers or fortune cookies shops.. - they know nothing..

what you can earn is a long ride and you need let say 10000 hours spent at least to master any trade..
what you can learn is a feeling to know when and where is the momentum to trigger and look for your trade.. you can learn to see the weakness and market strength ..

anything above/bellow is a just a fortune telling..

happy journey my friend..

P
  • #668,274
  • Jul 13, 2012 9:27am Jul 13, 2012 9:27am
Interesting end of week
Made some pips long but I still have shorts open for next week.
Also took short AUD/USD @ 1.0220
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,275
  • Jul 13, 2012 9:29am Jul 13, 2012 9:29am
Quoting KillerWhale
Interesting end of week
Made some pips long but I still have shorts open for next week.
Also took short AUD/USD @ 1.0220
I wanted to post charts but I am too tired now and too lazy
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,276
  • Jul 13, 2012 9:33am Jul 13, 2012 9:33am
Quoting Piters
there are many ways to skin the cat.. someone is riding the trend, someone wait for breakouts, some are picking the tops/bottoms or counter-trading,

then you have position traders, swing traders and scalpers.. all those are depends of the style they are willing to run trading the FX market, long term, swings or short term [intraday]

I know one thing for sure.. no one can tell yuo where the market is going.. as NO ONE KNOWS>.

be aware of fortune tellers or fortune cookies shops.. - they know nothing..

what you can earn is a long ride and...
Excellent answer! Thank you very much. I appreciated it.
  • #668,277
  • Jul 13, 2012 9:35am Jul 13, 2012 9:35am
Quoting KillerWhale
Interesting end of week
Made some pips long but I still have shorts open for next week.
Also took short AUD/USD @ 1.0220
Sir, the only thing that I beg of you is to explain the technical reason behind this entry. I want to build my strategy and I need a lot of help.
I won't take any position. I just want to know the reason.
  • #668,278
  • Jul 13, 2012 9:42am Jul 13, 2012 9:42am
Quoting koliva
Sir, the only thing that I beg of you is to explain the technical reason behind this entry. I want to build my strategy and I need a lot of help.
Reason is that this up swing was long expected and overdue. It might go higher.
But we're in a down trend and a trend is very difficult to break.
We've seen lower lows several times this week, that tells you we're not done with the down trend.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #668,279
  • Jul 13, 2012 9:47am Jul 13, 2012 9:47am
Quoting KillerWhale
Reason is that this up swing was long expected and overdue. It might go higher.
But we're in a down trend and a trend is very difficult to break.
We've seen lower lows several times this week, that tells you we're not done with the down trend.
At least it broke out of the tight trading range. I suspect that many traders are waiting to reload shorts-I am-though market may stall out for the remainder of the day.
"The market can remain irrational longer than you can remain solvent"
  • #668,280
  • Jul 13, 2012 9:51am Jul 13, 2012 9:51am
Quoting KillerWhale
Reason is that this up swing was long expected and overdue. It might go higher.
But we're in a down trend and a trend is very difficult to break.
We've seen lower lows several times this week, that tells you we're not done with the down trend.
Thank you
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