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  • #669,501
  • Jul 18, 2012 6:05pm Jul 18, 2012 6:05pm
Quoting John Gray
London/NY opening on Friday,

Anybody seeing a large retracement due on the EU?

You mean like a hallucination?
  • #669,502
  • Jul 18, 2012 6:06pm Jul 18, 2012 6:06pm
We usually (won't say always) have bizarre moves at NY open on Friday.

+ we are very low. Anybody can see that if you look back at larget time frames.
Even the worst trade can close with profit. Just give it time.
  • #669,503
  • Jul 18, 2012 6:09pm Jul 18, 2012 6:09pm
Quoting John Gray
We usually (won't say always) have bizarre moves at NY open on Friday.

+ we are very low. Anybody can see that if you look back at larget time frames.

Might depend on the number of bears that showed up for dinner in the last 3 hours.
  • #669,504
  • Jul 18, 2012 6:11pm Jul 18, 2012 6:11pm
Quoting RWalker
Might depend on the number of bears that showed up for dinner in the last 3 hours.

If there weren't many, might go down a ways.
  • #669,505
  • Jul 18, 2012 6:14pm Jul 18, 2012 6:14pm
Quoting KillerWhale
If you want a safe "set and forget" way to add a couple of $100 per week to your trading result, there is a very easy way to do that..

Since the Eur/Chf is stabilized just above @1.20, just put in a pending buy of a few standard lots @ 1.2008 with a target of 1.2014.
I do it with 2.5 standard lots and every time it hits it is $150.
With virtually NO RISK
Pretty good idea. Thanks Killer Whale!
Even the worst trade can close with profit. Just give it time.
  • #669,506
  • Jul 18, 2012 6:23pm Jul 18, 2012 6:23pm
Quoting John Gray
Pretty good idea. Thanks Killer Whale!

John Gray, that was posted by Killer a few days ago... so, I assume you have tried this, found it works and are just now thanking Killer.

If you have tried it, maybe you can answer a question I've had about that for some time: FXCM is one of the feeds I trade from, and their price feed indicates that what you describe would actually work. But, those little spikes at the end of nearly every day don't exist with Oanda or Interactive.

I do not have an account with FXCM. May I know which broker you have tried this with?
  • #669,507
  • Jul 18, 2012 7:31pm Jul 18, 2012 7:31pm
this analys is is a product of lot thinking and some beer, so therefor cheers.
Attached Image (click to enlarge)
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What does the world cost? A shit, so sell it!
  • #669,508
  • Jul 18, 2012 7:36pm Jul 18, 2012 7:36pm
Quoting KillerWhale
If you want a safe "set and forget" way to add a couple of $100 per week to your trading result, there is a very easy way to do that..

Since the Eur/Chf is stabilized just above @1.20, just put in a pending buy of a few standard lots @ 1.2008 with a target of 1.2014.
I do it with 2.5 standard lots and every time it hits it is $150.
With virtually NO RISK
This may be a good strategy (thought of that aswell), but my concern is that there may be a small chance of a huuuuuge loss.

Imagine something very bad / black swan, whatever, would happen to europe/eur. Eur sells off rapidly in case of this event and eur/chf stops get triggered. SNB can't sell francs fast enough. eur/chf goes below the magical 1.20, just where i assume most traders have their SL. Flash crash. Huge gap, price slippage since i assume many SL right below 1.20. You could even lose more than your initial investment, cause broker can't execute your SL. After most got stopped out, market is very illiquid and drops even more, causing more and more stops. 1.19/1.18? Maybe even more. Some minutes/hours/days later SNB steps in again and buys back cheaply on illiquid market, paralized/confused traders.


That's my idea of what could happen. Chance of this event may be slim, but i feel they are rising. And if it happens, it happens big. I would not want to be in a buy position then, especially a big leveraged one aiming for big profit with very few pips.

Don't want to paint the devil on the wall, but that's a reason I stay away from it. I wish all the best to the people doing it though. Just keep that in mind
  • #669,509
  • Jul 18, 2012 7:41pm Jul 18, 2012 7:41pm
guys so last night Austria downgrade rumor was pure rumor to mislead us ?
Mohan
  • #669,510
  • Jul 18, 2012 7:44pm Jul 18, 2012 7:44pm
Ok guys, small advice from me. Close your shorts, high chance of upmove. Goodnight!
  • #669,511
  • Jul 18, 2012 7:45pm Jul 18, 2012 7:45pm
Good day to you all. Another day in paradise. Win or loose.
"Men who can both be right and sit tight are uncommon."
  • #669,512
  • Edited 9:17pm Jul 18, 2012 8:31pm | Edited 9:17pm
KIWI ,

what your take on aussie , does she finished for this week or eying on 420 ?
Mohan
  • #669,513
  • Jul 18, 2012 8:35pm Jul 18, 2012 8:35pm
Some fairly clean trendline behavior lately - break of an internal TL is yet another reason to believe that E/U is headed up... maybe to 2400 (almost):

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  • #669,514
  • Jul 18, 2012 8:53pm Jul 18, 2012 8:53pm
Quoting RWalker
John Gray, that was posted by Killer a few days ago... so, I assume you have tried this, found it works and are just now thanking Killer.

If you have tried it, maybe you can answer a question I've had about that for some time: FXCM is one of the feeds I trade from, and their price feed indicates that what you describe would actually work. But, those little spikes at the end of nearly every day don't exist with Oanda or Interactive.

I do not have an account with FXCM. May I know which broker you have tried this with?
Are you referring to the large movements over the weekend that platforms don't pick up as the market is closed? I use MT4 and FXCM Trading Station


Also, why wouldn't some platforms not pick up on spikes??
Even the worst trade can close with profit. Just give it time.
  • #669,515
  • Jul 18, 2012 8:56pm Jul 18, 2012 8:56pm
From last two week I am looking for a good trade only two days left. If week end closing will 1.2200 or higher ,Than I will go long for nice 400-600 pips till 18 AUG.
just live a life, don't be hard.
  • #669,516
  • Jul 18, 2012 9:00pm Jul 18, 2012 9:00pm
That is.
Attached Image (click to enlarge)
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just live a life, don't be hard.
  • #669,517
  • Jul 18, 2012 9:03pm Jul 18, 2012 9:03pm
Quoting shaukat113
That is.
Are you saying we will go up to your .22 fib resistance level, then fall back to your .78 support?
Even the worst trade can close with profit. Just give it time.
  • #669,518
  • Jul 18, 2012 9:04pm Jul 18, 2012 9:04pm
Quoting John Gray
Are you referring to the large movements over the weekend that platforms don't pick up as the market is closed? I use MT4 and FXCM Trading Station


Also, why wouldn't some platforms not pick up on spikes??

The actual price levels in EUR/CHF are a little weird and vary from one broker to another because of the constant SNB intervention. But, I looked at it more from a TANSTAFL point of view: FXCM is showing a spike on my feed from Televent for Monday that goes from 1.1994 to 1.2010 in a couple minutes.

That's just too good to be true! If it weren't, you could risk a few lots for 5 minutes and pick up cool thousand! There must be a catch (spread blowout, insane slippage, etc).

I never bothered to look into it - seemed too good to be true. - thought you might have tried it.
  • #669,519
  • Jul 18, 2012 9:20pm Jul 18, 2012 9:20pm
Quoting RWalker
Price just retraced to 3rd tread (@75) to complete 4th tread of stairway... ready to make 5th tread?

Looks like 2287 will be the bottom of the 5th stair tread of the bear trap - either that or we just broke out into open air (no ceiling).
  • #669,520
  • Jul 18, 2012 10:07pm Jul 18, 2012 10:07pm
Quoting RWalker
The actual price levels in EUR/CHF are a little weird and vary from one broker to another because of the constant SNB intervention. But, I looked at it more from a TANSTAFL point of view: FXCM is showing a spike on my feed from Televent for Monday that goes from 1.1994 to 1.2010 in a couple minutes.

That's just too good to be true! If it weren't, you could risk a few lots for 5 minutes and pick up cool thousand! There must be a catch (spread blowout, insane slippage, etc).

I never bothered to look into it - seemed too good to be true. - thought...
it's must be broker local stop run , during that time spread goes ultra wide none of the long pending get loaded , is it happen during roll overtime ?
Mohan
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