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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #43,981
  • Jul 24, 2012 7:54am Jul 24, 2012 7:54am
Quoting ejiexe
Let buy Euro @ 1.2077 from those who want to sell atleast for decent correction.
I thought about it but I got burnt twice in the past two weeks already trying to catch the euro for a small correction.
If it does move back great... I will short from higher rate.

For now I am patiently waiting...
  • #43,982
  • Jul 24, 2012 8:00am Jul 24, 2012 8:00am
Quoting New Pip
I thought about it but I got burnt twice in the past two weeks already trying to catch the euro for a small correction.
If it does move back great... I will short from higher rate.

For now I am patiently waiting...
Very wise
  • #43,983
  • Jul 24, 2012 8:01am Jul 24, 2012 8:01am
Quoting New Pip
I thought about it but I got burnt twice in the past two weeks already trying to catch the euro for a small correction.
If it does move back great... I will short from higher rate.

For now I am patiently waiting...
Those who say it cannot be done should not interrupt those who are doing it
  • #43,984
  • Jul 24, 2012 8:03am Jul 24, 2012 8:03am
Quoting Ken A
Very wise
Thanks. I had to sober up. I was trying to catch almost every single turning point (at least what I thought was a reversal), but for a newcomer as me it is better to stuck with the current mid-long term trend.
  • #43,985
  • Jul 24, 2012 8:07am Jul 24, 2012 8:07am
Quoting balanced2012
yes Now it is sure it is !!!!
I feel a sarcasm in there . So it seems you dont know of a cycles research. Well, I aint sure if I can describe it in english, but I will give it a shot.

I am pretty sure you have heard sayings like "History reapeats itself", "Historia est magistra vitae", etc. All of these sayings have one common thing. They believe people arent as rational as they think. Modern economic theory considers investor sane individual, who decides only between risk and yield. In my opinion and in opinion of many historicians, this is not true. People tend to be both individuals and part of much higher social scheme. Try to imagine it like an onion. The most inner part, that is you. The peel surrounding you, that is your family. Next peel is your friends, next peel your city, nation, continent, mankind. There are many levels of peels and each of these peels have their own consciousness.

And each of these peels has its own lifetime. Like you are born you evolve and you die, even these high level beeings are born evolve and die. For such high level conscioussness, like the mankind is, this lifetime can be very long and mankind can be united only with very strong idea. Thats what Strauss and Howe explore. The idea, of what is binding mankind together. In their opinion, this idea is either material or theological for past 400 years or so and it is changing every 45 years. So lets say we live in the age of materialistic idea. What binds us together is cash. Then you can examine lower level peels and have a look what drives certain consciousness. Such a living consciousness is for example investor crowd. By knowing what idea drives him, I can know where he is heading.

T
"I know one thing, that I know nothing." Sokrates
  • #43,986
  • Jul 24, 2012 8:07am Jul 24, 2012 8:07am
Quoting New Pip
I thought about it but I got burnt twice in the past two weeks already trying to catch the euro for a small correction.
If it does move back great... I will short from higher rate.

For now I am patiently waiting...

That is not a bad idea though. Good to be PATIENCE and TRADE PLAN. I have my stop loss few pips below yesterday low with good MM. I am sure before the end of the day we are going to receive the news from our leader here for such a decent up move. Atleast, I have been waiting for the opportunity since three weeks ago and if I did'nt take it I will not be happy as Doc and PT told me sometimes ago not to follow the crowd and follow my sense of judgement. I don't want to blame anybody for my decision any longer. Trade well.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #43,987
  • Jul 24, 2012 8:09am Jul 24, 2012 8:09am
Quoting ejiexe
That is not a bad idea though. Good to be PATIENCE and TRADE PLAN. I have my stop loss few pips below yesterday low with good MM. I am sure before the end of the day we are going to receive the news from our leader here for such a decent up move. Atleast, I have been waiting for the opportunity since three weeks ago and if I did'nt take it I will not be happy as Doc and PT told me sometimes ago not to follow the crowd and follow my sense of judgement. I don't want to blame anybody for my decision any longer. Trade well.
Those who say it cannot be done should not interrupt those who are doing it
  • #43,988
  • Jul 24, 2012 8:16am Jul 24, 2012 8:16am
Quoting PipTrapper
Thanks. I also respect your both fundamental and Technical point of view. You are the master of the game
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #43,989
  • Jul 24, 2012 8:21am Jul 24, 2012 8:21am
@ PipTrapper: you are amazing trader!!! all respect for you!!!
i always read your comments and enjoy your charts!!!
best wishes for you bro.
  • #43,990
  • Jul 24, 2012 8:22am Jul 24, 2012 8:22am
Quoting ejiexe
Thanks. I also respect your both fundamental and Technical point of view. You are the master of the game
Perhaps in your eyes and I appreciate the compliment. However, I am no master other than of my own domain. This business (not game) is dominated by many masters in high towers... I'm NOT one of them. I'm just a humble trader who knows by experience that hot surfaces burn fingers
Those who say it cannot be done should not interrupt those who are doing it
  • #43,991
  • Edited 8:26am Jul 24, 2012 8:25am | Edited 8:26am
So yesterdays low has held so far.
Perhaps the US session will push price up again today to allow the boys to fill their ever increasing short positions.
  • #43,992
  • Jul 24, 2012 8:25am Jul 24, 2012 8:25am
let's play the knife catching game!

small long from 1.20835, already closely trailing my stop, i hate gap talk but...think we can fill the gap? ideally looking to TP around 1.215 and then switch back to shorting with a SL around 1.219 in case we want to visit the weekly pivot @ 1.218

http://sf.curbed.com/uploads/2008_06_knife-thrower.jpg
  • #43,993
  • Jul 24, 2012 8:28am Jul 24, 2012 8:28am
Quoting ejiexe
That is not a bad idea though. Good to be PATIENCE and TRADE PLAN. I have my stop loss few pips below yesterday low with good MM. I am sure before the end of the day we are going to receive the news from our leader here for such a decent up move. Atleast, I have been waiting for the opportunity since three weeks ago and if I did'nt take it I will not be happy as Doc and PT told me sometimes ago not to follow the crowd and follow my sense of judgement. I don't want to blame anybody for my decision any longer. Trade well.
Very wise too

But I have had my share with this pair. I earned a nice little swap around $ 3 ~ 4 K (don't remember the exact figures) for one month but this didn't cover my lost (try to forget) for trading counter trend

Because of that I got short term memory loss
  • #43,994
  • Jul 24, 2012 8:35am Jul 24, 2012 8:35am
Hi everyone,

I would like to ask a question about fib. PT posted E/U Daily saying if it clears 161.8 the next would be 261.8%. Am i right to say for fib retracement, as long as if it breaks one level, it will always find the next? And if it bounces of the level, it will head for the next level in the opposite direction?>
  • #43,995
  • Jul 24, 2012 8:45am Jul 24, 2012 8:45am
Quoting ProfitsOnly
Hi everyone,

I would like to ask a question about fib. PT posted E/U Daily saying if it clears 161.8 the next would be 261.8%. Am i right to say for fib retracement, as long as if it breaks one level, it will always find the next? And if it bounces of the level, it will head for the next level in the opposite direction?>
Nothing is ever certain, but the thoughts are that if levels break, then the target is the next level. But it doesn't always happen. Nothing in trading is a certainty. Use it perhaps to give weight to other situations you may see.
  • #43,996
  • Jul 24, 2012 8:49am Jul 24, 2012 8:49am
Quoting ejiexe
Thanks. I also respect your both fundamental and Technical point of view. You are the master of the game
I am staying aside, not trading today doing some stupid must-to-do-house-jobs but I must drop a line here.
Guys, there's nothing wrong in counter-trend-trading.
I love this, it suits my style and personality.
It all depends on what time frame you are making you setups, where is your target and stop.
As in technical analysis there are Long-Term and Short-Term views, the same is with fundamentals. And many traders forget about it all the time.
My fundamental view for EURUSD for TODAY ( I repeat: FOR TODAY) is slightly bullish.
Troika is to negotiate another “deal” for Greece, and I don't care that Greeks will not be able to meet those requirements in September, because now I am sitting on 1H time frame and it can push the price higher.
Why should I be technicaly on 1H, and taking fundamentals from 1W charts.
I’ll be looking on SHORT signals between 1.2160-1.2200

ps. falling knives stories are plain bulsht
if done properly (SL and TP) it can be very profitable
Cheeerrrrrsss.....
Read Charts - Not Papers
  • #43,997
  • Jul 24, 2012 8:52am Jul 24, 2012 8:52am
Quoting neuron
let's play the knife catching game!

small long from 1.20835, already closely trailing my stop, i hate gap talk but...think we can fill the gap? ideally looking to TP around 1.215 and then switch back to shorting with a SL around 1.219 in case we want to visit the weekly pivot @ 1.218
Great,

Just 1 question, my weekly pivot is rather around 1.2209, why yours ais about 1.2180 ?

Thanks,
  • #43,998
  • Jul 24, 2012 8:56am Jul 24, 2012 8:56am
Quoting halkins
ps. falling knives stories are plain bulsht
Ok, catch it. GL
"I know one thing, that I know nothing." Sokrates
  • #43,999
  • Jul 24, 2012 9:04am Jul 24, 2012 9:04am
Quoting tomlee
.. why yours ais about 1.2180 ?
Coz he doesnt count Sunday data.
"I know one thing, that I know nothing." Sokrates
  • #44,000
  • Jul 24, 2012 9:05am Jul 24, 2012 9:05am
Quoting tomlee
Great,

Just 1 question, my weekly pivot is rather around 1.2209, why yours ais about 1.2180 ?

Thanks,
pls piptrapper am also new to forex and my pivot is 1.2109.. would like to know too how u always arrive at ur own pivot.Been following your posts for weeks and have this question bout the pivot.tanks tomlee for ur post.
Life is beautiful the way you dress it.
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