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  • #621
  • Jul 19, 2012 6:16am Jul 19, 2012 6:16am
testing another short here......

looking for continuing correction of 1.2216 to 1.2324

target zone now 1.225x to 1.222x
Attached Image (click to enlarge)
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  • #622
  • Jul 19, 2012 6:42am Jul 19, 2012 6:42am
Quoting Crassius
I had hopes we could have a group of serious traders actually posting useful stuff. Guess not.
My understanding of the framework of ESM and EFSF after reading through countless of drafts/articles/reports is that it was all covered within the clause, nothing new or groundbreaking.

So I assume traders who have been keeping up with European news and policies would not see this as a strong basis for any positive sentiment or game changer, which would then only leave the conclusion to trading algos.


@Skynet Unfortunately, I haven't been trading for the past week as I was on a holiday so I haven't been monitoring much. I do note though that it has been struggling for up side momentum when checking on my position trades.

I have been hearing from a handful of S&T guys from Asian banks(I'm based in Asia) that Asian traders find the EUR to be well valued and are doing the buying.
  • #623
  • Jul 19, 2012 7:23am Jul 19, 2012 7:23am
Long @ 1.2290 Sl 1.2270 Risk 1% TP @ 1.2334
If there was easy money lying around,no one would be forcing it into your
  • #624
  • Jul 19, 2012 8:16am Jul 19, 2012 8:16am
Quoting MaxDoom
testing another short here......

looking for continuing correction of 1.2216 to 1.2324

target zone now 1.225x to 1.222x

happy days are here again......

target zone reached, now lets see if she will pay a bonus
  • #625
  • Jul 19, 2012 8:44am Jul 19, 2012 8:44am
Quoting FXMindset
Long @ 1.2290 Sl 1.2270 Risk 1% TP @ 1.2334
Stopped 1%

Gain 2%

Total 1 %


Flat - Prefer scenario - Long again
If there was easy money lying around,no one would be forcing it into your
  • #626
  • Jul 19, 2012 8:57am Jul 19, 2012 8:57am
Quoting MaxDoom
testing another short here......

looking for continuing correction of 1.2216 to 1.2324

target zone now 1.225x to 1.222x

Okay so it has managed to reach as far as a 90% correction of the move up from 1.2216 this implies a high probabililty of further downside

so watch out for the hourly lower trend line which also coincides around 1.2216 either a bounce off for more corrective waves or a breach for further downside....
  • #627
  • Jul 19, 2012 10:17am Jul 19, 2012 10:17am
How long can this flag last!!!
Look at the Aussie, unstoppable.
  • #628
  • Jul 19, 2012 11:21am Jul 19, 2012 11:21am
The idea that Tom Spin had was to share and learn together. I think we owe a great big thank ya to Tom and some of the other nice folks here.

My afternoon set up Comments appreciated and suggestions for improvement solicited.

As you can see from my explorer I got off fast earning about 10K and then bam lost 20K Calmed down and with the account 64.5% B I decided to slow down do it right at least the best I can and manage my risk reward and money. So here goes

Got a nice move from my 10K euro demo account today from 93 to 2282

$5900 actual cash set up for afternoon
EURUSD
Supply demand zone formed at 1.2235 to 1.2229 after morning decline with thrust out 60 pips in 1 hour
This zone should be recalled for future.
The shorts could push back again into the zone but with only 4 hours left they may not be so bold. So I am long and trading
Trading 2 10K lots with 25 to 1 leverage
entry average costs 1.2258.5
SL 1.2229 60 pips risk
Target 1.3022 128 pips reward

Set up created with Bollinger Bands P30 Shift 0 SD 2 Median Price
and EMA 20 50 100 periods using typical price

Stochastics Oscillator
%K 20
%D 12
Slowing 3
Price Field Low to High
Simple
Trading Consultants Inc JJG
  • #629
  • Jul 19, 2012 12:07pm Jul 19, 2012 12:07pm
Market did another leg, so I need to look to another possible count, yellow one. The uptrend could be done, but we need to break 1.223 to confirmed. At my view I see more highs...
Attached Image (click to enlarge)
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #630
  • Jul 19, 2012 1:48pm Jul 19, 2012 1:48pm
Go a bit shaky around 2:30 and closed as indicators came back throught the three EMA's However back in trade and will continue. The entry was a bungled effort as my stop was adequate had I simply lefgt it alone. I will learn I hope .... Long 3 10k at 1.2266 with stop at 1.2251 as I print eur 1.2281. Can I leaver it alone
The 10K euro account is long 1 1ook up 7 pips. If you have kind thoughts I would appreciate them.

This indicator process aluded to earlier seems to be working I do not know how to create a script but if soemone will help me I will share nthis process. It works apparentlu at least for currencie LOL

Quoting Turtle Man
The idea that Tom Spin had was to share and learn together. I think we owe a great big thank ya to Tom and some of the other nice folks here.

My afternoon set up Comments appreciated and suggestions for improvement solicited.

As you can see from my explorer I got off fast earning about 10K and then bam lost 20K Calmed down and with the account 64.5% B I decided to slow down do it right at least the best I can and manage my risk reward and money. So here goes

Got a nice move from my 10K euro demo account today from 93 to 2282

$5900 actual...
Attached Image (click to enlarge)
Click to Enlarge Name: study the day chart 7 19 2012 930 chart 2.gif Size: 27 KB
Attached Image
Trading Consultants Inc JJG
  • #631
  • Jul 20, 2012 12:25am Jul 20, 2012 12:25am
Quoting Turtle Man
Go a bit shaky around 2:30 and closed as indicators came back throught the three EMA's However back in trade and will continue. The entry was a bungled effort as my stop was adequate had I simply lefgt it alone. I will learn I hope .... Long 3 10k at 1.2266 with stop at 1.2251 as I print eur 1.2281. Can I leaver it alone
The 10K euro account is long 1 1ook up 7 pips. If you have kind thoughts I would appreciate them.

This indicator process aluded to earlier seems to be working I do not know how to create a script but if soemone will help...
While we are making higher lows, we're also jamming at a resistance level around 1.2320. I personally think we're looking for a "turtle soup" style short here. The 1Hr chart is looking really awkward over the last week or so. Honestly, I'm staying flat for now. We could explode out of either side.

My gut feeling, though, is that we are forming an ascending triangle, and that we are going to see an explosive move lower. The higher lows don't mean much when we can't break 1.2320.
  • #632
  • Jul 20, 2012 2:05am Jul 20, 2012 2:05am
Yes I am hapy to trade in either direction depending upon what unfolds, but my overall bias is still short, why?

Daily made a recent descent from 1.328x to 1.228x and then a nice clean ABC correction into the target zone ending around 45% - see chart

Since then the price has move down again taking out the low of 1.228x and thereby voiding the possibility that it is still correcting that descenmt 1.328x to 1.228x.

So we are technically in a new down trend since 18th Jun and from 1.274x. Such trends normally consist of at least a 5 wave pattern and you can see on the daily chart it has made what could be Wave 1, 2, 3 and is possibly on wave 4.

You can also see this in more detail on the H4 chart where you can also see that the current action since the low 1.216x has been very corrective in nature.

So my thoughts remain to the down side especially if that lower trend line gives.

targets zones are 1.211x to 1.206x then 1.199x to 1.196x.

Does this mean it can't go up - of course not I am just considering probability. The biggest upside risk I see to these technical patterns is the current retrace (potential wave 4) has only extended to about 30% and may need to go a little further yet to 1.236x zone.

The plan becomes invalid if price exceeds 1.241x
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSD-sbH4.png Size: 47 KB
  • #633
  • Jul 20, 2012 2:33am Jul 20, 2012 2:33am
Morning Gays,

Prefer short today
If there was easy money lying around,no one would be forcing it into your
  • #634
  • Jul 20, 2012 2:39am Jul 20, 2012 2:39am
Quoting FXMindset
Morning Gays,

Prefer short today

always good to have a fellow conspirtor along for the ride
  • #635
  • Jul 20, 2012 2:41am Jul 20, 2012 2:41am
Short on crude at 92.35 looking for some proper retrace
  • #636
  • Jul 20, 2012 2:44am Jul 20, 2012 2:44am
Quoting MaxDoom
always good to have a fellow conspirtor along for the ride
If there was easy money lying around,no one would be forcing it into your
  • #637
  • Jul 20, 2012 4:12am Jul 20, 2012 4:12am
good day to you,

Can not see us close above 1.2287 today. Pressure down at the moment.

Regards
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  • #638
  • Jul 20, 2012 4:35am Jul 20, 2012 4:35am
good day to you,

If I could venture a "guess"... it would possibly entail a rise over the next 4hrs or so to be dropped again in NY session.

This is just opinion - and opinion means diddly squat.

Regards
  • #639
  • Jul 20, 2012 4:37am Jul 20, 2012 4:37am
Quoting TauTrader
good day to you,

If I could venture a "guess"... it would possibly entail a rise over the next 4hrs or so to be dropped again in NY session.

This is just opinion - and opinion means diddly squat.

Regards


not so sure myself it seems all the up moves are short lived today
  • #640
  • Jul 20, 2012 4:40am Jul 20, 2012 4:40am
hello peoples, i am bias short, have been long time, but need consider all different angles, I have simple daily chart,

is show me enought to be cautious,
I have my postions well above these levels, and presently playing the tiny bear flag hard to the right , but I am very wary of the support a, to the left, and also 2131ish, this is the alltime mid this girl, so although I 1st waiting the flag to fruit and then attack 2131, I am doing with much caution, these supports deserve respect, but I am wanting the bears to smash them, will be nasty either way, smash support or reject it, happy pip hunting peoples

if support holds, I may reconsider my loyalty bear to bull
Attached Image (click to enlarge)
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