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EurAnalysis Kindergarten 24 replies

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  • #44,341
  • Jul 25, 2012 1:23pm Jul 25, 2012 1:23pm
no disrespect but is that chart you posted for real.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #44,342
  • Jul 25, 2012 1:33pm Jul 25, 2012 1:33pm
Quoting billytt
no disrespect but is that chart you posted for real.
Of course why would you ask that? No offense taken but I am curious why you ask

Did you notice how pretty much every indicator on the chart has a use?

So many people do not realize that you need to draw EVERY TREND LINE (if you are an intraday trader). They all matter. Just look at all the "to the pip" (and if not that within 5 pips most certainly) stop and reversals...

edit: i notice im missing a few trendlines like the ones just formed from the intraday highs today. sorry

here it is again with a few more added that i forgot
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Click to Enlarge Name: eurodollar30mchartjuly24th2012.jpg Size: 369 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #44,343
  • Jul 25, 2012 1:38pm Jul 25, 2012 1:38pm
Quoting Rag2RichesFX
Of course why would you ask that? No offense taken but I am curious why you ask

Did you notice how pretty much every indicator on the chart has a use?

So many people do not realize that you need to draw EVERY TREND LINE (if you are an intraday trader). They all matter. Just look at all the "to the pip" (and if not that within 5 pips most certainly) stop and reversals...
Was it you , who restated yesterday that going long on the EURUSD was maddness ... i remember yesterday something like that and you and couple of people were involved in this asserting almost non questionable fact !!!!!
"It's the Margin, Stupid."
  • #44,344
  • Jul 25, 2012 1:39pm Jul 25, 2012 1:39pm
i am still looking out for new trading ways, but i honestly think there is too much info, but if it works for you good, take care friend.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #44,345
  • Jul 25, 2012 1:39pm Jul 25, 2012 1:39pm

07/25/2012 (Wed)Speigel Online International – 6 hours ago.


Spreading Euro Fire- Economists Warn EU on 'Threshold of Catastrophe'

A panel of respected European economics experts are ringing the alarm bell this week over the euro crisis -- direly calling on all European leaders to move swiftly to deploy the most powerful tools available to halt the currency's downward spiral.

"We believe that as of July 2012, Europe is sleepwalking toward a disaster of incalculable proportions," the New York-based Institute for New Economic Thinking (INET) stated in a report warning leaders they need to move faster and more decisively to save the common currency. Otherwise it could very well disintegrate.

The experts wrote that the crisis is the result of flawed design, construction and implementation of the finance and currency system. In order to rescue it, the economists are calling for a radical restructuring. "The sense of a never-ending crisis, with one domino falling after another, must be reversed," they wrote. <Read more>


http://www.spiegel.de/international/...-a-846327.html
  • #44,346
  • Edited 1:50pm Jul 25, 2012 1:39pm | Edited 1:50pm
Quoting Vachus
Was it you , who restated yesterday that going long on the EURUSD was maddness ... i remember yesterday something like that and you and couple of people were involved in this asserting almost non questionable !!!!!
Feel free to read my 5 posts. I just joined a few days ago I was actual stating how daily didn't close below 150 extension so I thought the bears were giving in temporarily.

Last night I called for 1.2130 top and 1.20 bottom that would be heavily defended (of course just a guess). Wasn't too far off, didn't think the down trends and 4hr MAs would break, and I thought bears were going to front run 1.2160 but that didn't happen.
Be hopeful in a winning position, and fearful in a losing position.
  • #44,347
  • Edited 2:12pm Jul 25, 2012 1:42pm | Edited 2:12pm
Quoting billytt
i am still looking out for new trading ways, but i honestly think there is too much info, but if it works for you good, take care friend.
It can get a bit overwhelming that's for sure. But it's full screen on a 24in monitor so I can actually see it pretty well.

My longer TF charts don't as much information, as of course 30m trendlines don't matter to multiple week/month moves.

IMO the more indicators the better because if they all converge on 1 spot, it gives me a lot more confidence than I would have had with the trade without those extra indicators as support resistance. I just use three EMAs (and their respective exhaustion bands), bollinger bands, fibs, channels/trends, RSI, divergences, and daily/weekly/monthly S/R and pivot levels. It's really not that bad

Many people underestimate bollinger bands as well. 1.2745 downtrend continuation was the daily bollinger band (or maybe 20-30 pips above it, it was close)
Be hopeful in a winning position, and fearful in a losing position.
  • #44,348
  • Jul 25, 2012 1:43pm Jul 25, 2012 1:43pm
Quoting Rag2RichesFX
I would never try and pick a bottom on EURAUD. I have tried too many times in the past only to fail. Don't fight the 4 year down trend!
I never said I was trying to pick a bottom. It's called a TP, sheesh!
check out my blog: forexmademillionaire dot com
  • #44,349
  • Jul 25, 2012 1:46pm Jul 25, 2012 1:46pm
Quoting Rag2RichesFX
I would never try and pick a bottom on EURAUD. I have tried too many times in the past only to fail. Don't fight the 4 year down trend!

But I do believe parity will be reached one day. Might take another QE3 where AUD rallies double what EUR rallies, or maybe not but AUD definitely won't be faded as much after they both rally.

Daily bullish engulfing on E/U. Let's see if she will close below 1.2060 (the low and beginning of last weeks retracement, more important than Friday's close, which had already broken that very slightly up trending...
Whilst one might consider the last 4 years as a down trend, most of 2009 encompassed a ~2700 pip rally and similarly, 2010 a ~3000 pip rally...http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #44,350
  • Jul 25, 2012 1:49pm Jul 25, 2012 1:49pm
Quoting Rag2RichesFX
Feel free to read my 5 posts. I just joined a few days ago

Last night I called for 1.2130 top and 1.20 bottom. Wasn't too far off, didn't think the down trends and 4hr MAs would break, and I thought bears were going to front run 1.2160 but that didn't happen.
Actually it did happen and they were very consistent about it. Had they not been, the Euro would have shot up to 1.2360

There was a big battle today between the bears and the ones calling it quits for the summer (covering their shorts) and all that was aggravated by the idiots who believed Nowotny and his ESM banking license verbal diarrhea. It all happened over a 4 hour span, and then it all sputtered out.

Let's see what tomorrow has in store.
Those who say it cannot be done should not interrupt those who are doing it
  • #44,351
  • Jul 25, 2012 2:02pm Jul 25, 2012 2:02pm
i was long very early this morning on e/u g/u a/u and e/g then got out. i must say i normally only trade one pair at a time but i took the pips then went out
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #44,352
  • Jul 25, 2012 2:04pm Jul 25, 2012 2:04pm
Quoting PipTrapper
Actually it did happen and they were very consistent about it. Had they not been, the Euro would have shot up to 1.2360

There was a big battle today between the bears and the ones calling it quits for the summer (covering their shorts) and all that was aggravated by the idiots who believed Nowotny and his ESM banking license verbal diarrhea. It all happened over a 4 hour span, and then it all sputtered out.

Let's see what tomorrow has in store.
Would be believe me , if i told u i placed a Long at 1.205 and i was calculating that the Euro will spike up at least twice before it come back again and penterate the 1.20 ! ( i thought each bounce will be 30 or 25 at least , then take short as cover ) However, by the time i entered the forum and i started reading, doubts started worring me and i made a mistake to listen to other people and not sticking to my plans... i closed the trade at 1.207 and decided not to risk it anymore.

lesson learnt
"It's the Margin, Stupid."
  • #44,353
  • Jul 25, 2012 2:08pm Jul 25, 2012 2:08pm
"If I go I'm taking you all with me."
Attached Image
  • #44,354
  • Jul 25, 2012 2:08pm Jul 25, 2012 2:08pm
Quoting billytt
i was long very early this morning on e/u g/u a/u and e/g then got out. i must say i normally only trade one pair at a time but i took the pips then went out
Today was positional trading not scalping. Positional trading have a very losse stop loses because of market volatility. If u secure a profit , you cash it out and reenter....

I think Pip trader had his stop loses at 1.21650 - if i'm not wrong
"It's the Margin, Stupid."
  • #44,355
  • Jul 25, 2012 2:21pm Jul 25, 2012 2:21pm
hi bud, hope your ok.here is a chart from this morning,No1 was the trade Nos 2 + 3 were not traded as they cancelled each other out and thats a long story. the actual directional cross over was triggered off the 14 day but i also use the 2 day and a filter.
Attached Image (click to enlarge)
Click to Enlarge Name: 25072012.PNG Size: 36 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #44,356
  • Jul 25, 2012 2:25pm Jul 25, 2012 2:25pm
Quoting Vachus
Today was positional trading not scalping. Positional trading have a very losse stop loses because of market volatility. If u secure a profit , you cash it out and reenter....

I think Pip trader had his stop loses at 1.21650 - if i'm not wrong
Wrong. I don't have stop losses in the general vicinity. Stop losses are magnets to the masters in the high towers.
My stop losses are only in place to safeguard against black swan events wiping out my capital... Usually at BE
Those who say it cannot be done should not interrupt those who are doing it
  • #44,357
  • Jul 25, 2012 2:27pm Jul 25, 2012 2:27pm
i think i understand what you mean, i myself do not understand whether it was scalp/positional trading or what. i just traded my triggers and caught approx 90 pips on the up.take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #44,358
  • Jul 25, 2012 2:56pm Jul 25, 2012 2:56pm
Quoting PipTrapper
Wrong. I don't have stop losses in the general vicinity. Stop losses are magnets to the masters in the high towers.
My stop losses are only in place to safeguard against black swan events wiping out my capital... Usually at BE

"It's the Margin, Stupid."
  • #44,359
  • Jul 25, 2012 3:05pm Jul 25, 2012 3:05pm
Quoting drzakir123
yes sure ur right and one of my profit target hit with 105 green pips in the kitty while i was having fun with the beauties.

now i am so high that i am feeling like a man who just cross the minefield blindfolded and still alive.i think i was lucky and dangerous.

add.my buy limit orders triggered are from yesterday,not today
I give you this for not listening to the crowd.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #44,360
  • Jul 25, 2012 3:54pm Jul 25, 2012 3:54pm
Quoting PipTrapper
Actually it did happen and they were very consistent about it. Had they not been, the Euro would have shot up to 1.2360

There was a big battle today between the bears and the ones calling it quits for the summer (covering their shorts) and all that was aggravated by the idiots who believed Nowotny and his ESM banking license verbal diarrhea. It all happened over a 4 hour span, and then it all sputtered out.

Let's see what tomorrow has in store.
I agree with the big battle today. I didn't trade today or even watch the PA but I see what you mean. The bears did hit it hard many times before 1.2160.

What I meant by front running was a top and reversal and maybe we would consolidate and close above 1.21. What I meant is that it was too obvious (2160) so they were going to give it the hammer before it reached there.

At any rate, as far as tech resistance goes, here's my 1hr and 4hr chart.

Won't be very active for a week or two, take care and good luck everyone. It's good to join a thread like this where others can discuss and help me with their opinions and I can try to do the same for them with mine.

Too much perspective never hurt anyone.
Attached Image (click to enlarge)
Click to Enlarge Name: eurodollar1hrchartjuly25th2012.jpg Size: 420 KB
Be hopeful in a winning position, and fearful in a losing position.
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