DislikedIt appears to not be my day....
I will shortly be licking my wounds and waiting for tomorrow.
EUR short added @ 1.2092Ignored
- #82
- Jul 24, 2012 8:14am Jul 24, 2012 8:14am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
We miss 100% of the shots we don't take
- #87
- Jul 24, 2012 10:49am Jul 24, 2012 10:49am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
We miss 100% of the shots we don't take
- #90
- Jul 25, 2012 2:00am Jul 25, 2012 2:00am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
We miss 100% of the shots we don't take
- #91
- Jul 25, 2012 2:02am Jul 25, 2012 2:02am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
We miss 100% of the shots we don't take
- #93
- Jul 25, 2012 3:15am Jul 25, 2012 3:15am
- | Joined May 2008 | Status: Trader | 1,413 Posts
Morning All,
I said I would try and post graphs and analysis, so here goes.
The pictures below give a very good representation of what I think of the initial 7:50 - 8:10 move FAKE (please note that this is not always the case, I will not always take a fake).
You can see how I have drawn a box around recent price action, I have played a bounce of the lower edge (this applies to both GBP & EUR). I have set my SL below what I believe to be a relevant point(the choice of these will come to you through hours of chart watching).
The price (break) then continued to drop, I allow myself one more entry per pair, this has to be very close to SL as this minimizes loss if the break should continue.
As you can see there was a huge spike this morning which meant we got more bank for our buck, this isn't normally the case, I would however expect the price to turn and move up. At which point I would take my profits on each trade somewhere between 12-20 pips (this is determined by the power of the move up and proximity to any other levels i think could turn price back down).
I do not have a predetermined long/short bias as I believe this clouds your view. I am only in for 12 or so pips which can be gained in either circumstances, given the right conditions.
cheers all, hope this helps.
G/L
I said I would try and post graphs and analysis, so here goes.
The pictures below give a very good representation of what I think of the initial 7:50 - 8:10 move FAKE (please note that this is not always the case, I will not always take a fake).
You can see how I have drawn a box around recent price action, I have played a bounce of the lower edge (this applies to both GBP & EUR). I have set my SL below what I believe to be a relevant point(the choice of these will come to you through hours of chart watching).
The price (break) then continued to drop, I allow myself one more entry per pair, this has to be very close to SL as this minimizes loss if the break should continue.
As you can see there was a huge spike this morning which meant we got more bank for our buck, this isn't normally the case, I would however expect the price to turn and move up. At which point I would take my profits on each trade somewhere between 12-20 pips (this is determined by the power of the move up and proximity to any other levels i think could turn price back down).
I do not have a predetermined long/short bias as I believe this clouds your view. I am only in for 12 or so pips which can be gained in either circumstances, given the right conditions.
cheers all, hope this helps.
G/L
- #96
- Jul 25, 2012 4:14am Jul 25, 2012 4:14am
- | Joined May 2008 | Status: Trader | 1,413 Posts
Good morning Dayboy!
Thanks for the charts!
Dont let some senior EURUSD thread members disturb your contribution
Don't worry I won't, I accept that everyone has different views and let them crack on with it.
To All,
That is me done for the day, I have analyzed my entries and written up my trades.
G/L all
P.S. feel free to comment I will be no doubt popping back in at various points in the day
- #100
- Edited 1:49am Jul 26, 2012 1:49am | Edited 1:49am
- Joined Jan 2012 | Status: Is still the ginger ninja | 2,495 Posts
We miss 100% of the shots we don't take