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  • #1,241
  • Aug 2, 2012 8:01am Aug 2, 2012 8:01am
Quoting Crassius
2170-75 would be a really nice low to hit -- bottom of the channel and a nice place to complete the B wave
not far and achievable even if we did enourmous ATR
swing it!
  • #1,242
  • Aug 2, 2012 8:03am Aug 2, 2012 8:03am
Quoting TauTrader
Good day to you,

Payday. I am grateful. Closed all.

Regards

top work
  • #1,243
  • Aug 2, 2012 8:03am Aug 2, 2012 8:03am
Quoting daemon_delux
Typical for Draghi. Anyway, charts speak for themselves. My first target from 2360 is 2150 for today.

Trade safe, guys.
I believe I managed to enter at such point that I will be holding it for a longer period at least 1,20 daily has got much more to offer for bears,
swing it!
  • #1,244
  • Aug 2, 2012 8:10am Aug 2, 2012 8:10am
Quoting MaxDoom
top work
Good day to you, sir



Thank you. Appreciated.

Weekly chart for me still shows long... I may look to build a long position as we progress...

Do not see new lows and stuff just yet.

Your gut was correct today. So were many of the members here with general interpretation. Good company to be in.

All the best
  • #1,245
  • Aug 2, 2012 8:18am Aug 2, 2012 8:18am
Quoting TauTrader
Good day to you, sir



Thank you. Appreciated.

Weekly chart for me still shows long... I may look to build a long position as we progress...

Do not see new lows and stuff just yet.

Your gut was correct today. So were many of the members here with general interpretation. Good company to be in.

All the best
ummm interesting for sure - if we had hit 2175 this morning I would have been long for 1.249x right now I think we could go lower first - bank half at 170 pips lets the rest run for now
  • #1,246
  • Aug 2, 2012 8:29am Aug 2, 2012 8:29am
Quoting MaxDoom
ummm interesting for sure - if we had hit 2175 this morning I would have been long for 1.249x right now I think we could go lower first - bank half at 170 pips lets the rest run for now
Good day to you,

Testing my theory on weekly. I am entering a long on weekly @ 1.2177. Because of the large timeframe - I expect drawdown - will manage that until my chart tells me otherwise.

Will see

Regards
  • #1,247
  • Aug 2, 2012 8:30am Aug 2, 2012 8:30am
Quoting MaxDoom
ummm interesting for sure - if we had hit 2175 this morning I would have been long for 1.249x right now I think we could go lower first - bank half at 170 pips lets the rest run for now
And well done on the pips...

Awesome.

All success to you
  • #1,248
  • Aug 2, 2012 8:35am Aug 2, 2012 8:35am
Quoting TauTrader
And well done on the pips...

Awesome.

All success to you

He's finished decided to reverse long for some retrace - very fickle all out of sorts after my short got mullered this morning
  • #1,249
  • Aug 2, 2012 8:36am Aug 2, 2012 8:36am
Quoting TauTrader
Good day to you,

Testing my theory on weekly. I am entering a long on weekly @ 1.2177. Because of the large timeframe - I expect drawdown - will manage that until my chart tells me otherwise.

Will see

Regards

ah just read this - good decision for both of us maybe
  • #1,250
  • Aug 2, 2012 8:44am Aug 2, 2012 8:44am
Quoting MaxDoom
ah just read this - good decision for both of us maybe
Will have to see... plan is to add / then clear weakest entry when /if in profit - slowly chipping away as we go to get to the best possibly entry. I'm on a dangerous timeframe - do not really like it. Too much can go wrong- too far, too quickly.

I guess the worst that can happen is a 300 pip drawdown..

Wish you all the best
  • #1,251
  • Aug 2, 2012 10:04am Aug 2, 2012 10:04am
Inserted Video
swing it!
  • #1,252
  • Aug 2, 2012 10:09am Aug 2, 2012 10:09am
Quoting TauTrader
Will have to see... plan is to add / then clear weakest entry when /if in profit - slowly chipping away as we go to get to the best possibly entry. I'm on a dangerous timeframe - do not really like it. Too much can go wrong- too far, too quickly.

I guess the worst that can happen is a 300 pip drawdown..

Wish you all the best
Good day to you,

So here we go... as expected - drawdown begins...

Now to figure out spacing of buys....this is going to be a very interesting exercise for me. If I disappear for a week or so, you know where i'm at..digging a hole, or digging out.

Regards
  • #1,253
  • Aug 2, 2012 10:13am Aug 2, 2012 10:13am
Quoting TauTrader
Good day to you,

So here we go... as expected - drawdown begins...

Now to figure out spacing of buys....this is going to be a very interesting exercise for me. If I disappear for a week or so, you know where i'm at..digging a hole, or digging out.

Regards
Ahhh Tau at least wait for a Non Farm's tommorow mate!
That's brave and I am sure you have a reason but we could close the week under 1,20
swing it!
  • #1,254
  • Aug 2, 2012 10:21am Aug 2, 2012 10:21am
I see a chance to test 1,20 nice rejections above - pretty solid line if you ask me + CCI in the mid's

http://s11.postimage.org/rnizzahyb/euro.gif
photo hosting
swing it!
  • #1,255
  • Edited 10:53am Aug 2, 2012 10:41am | Edited 10:53am
Quoting tomspin
Ahhh Tau at least wait for a Non Farm's tommorow mate!
That's brave and I am sure you have a reason but we could close the week under 1,20
Good day to you, Sir

You have a very valid point. BUT - each time you called me brave, the pips came - so this is encouraging...

Just kidding.

You know - the robustness of a trading system is extremely important. It has to be tested under all conditions. One can not be trading a system that one doubts - right?

It has to be sustainable. It has to function. It has to "reason" with the trader. Losses are a part of trading. Should one think otherwise, that would be wrong.This here is the ultimate. I would not normally engage in the weekly chart, but i am very curious to see how it plays out in the end. Signals should be the same, right?

I think the scope of the move on a weekly chart will kill me rather than being on the wrong side of the move when I reflect.

That said - I have started this and I have to finish it. Whatever the outcome.

Put your trust in an indicator - whut?. I will be frowned upon by the purists.

Indicators lag. PA is the only way to go.... neck out.


All the best!
  • #1,256
  • Aug 2, 2012 10:59am Aug 2, 2012 10:59am
Quoting tomspin
I see a chance to test 1,20 nice rejections above - pretty solid line if you ask me + CCI in the mid's
Evening Tom and gents!

Lately I have had barely time to trade and follow the Forum; though I have been following the Gold, I had to since it is easier to follow, though I have made a little mistake when I used "Gartley"/"Cypher" patterns which haven't fully used my rules, I missed that for some reason (I attend to stick to rules, but I am only human), it cost me several dollars move (6 to be exact). I managed to catch the last double top, a couple of nights ago and it's going down ever since; so far 30 dollars move. I just saw some craziness for all USD involved pairs, all the spikes, I am glad it wasn't too high to reach my SLs. I can't even follow up for the news to see what happened.
Green pips to all, gtg home from Work, it's 7pm and an hour drive back home.
  • #1,257
  • Aug 2, 2012 11:07am Aug 2, 2012 11:07am
Hey Mike

Hope you are well mate. Consider daily charts or H4 if you are busy,
Gold made another really nice top same goes for SP 500.
I think next good buy point could be at 1570,20 if you consider very slow, consolidating daily uptrend
swing it!
  • #1,258
  • Aug 2, 2012 11:08am Aug 2, 2012 11:08am
Quoting TauTrader
Good day to you, Sir

You have a very valid point. BUT - each time you called me brave, the pips came - so this is encouraging...

Just kidding.

You know - the robustness of a trading system is extremely important. It has to be tested under all conditions. One can not be trading a system that one doubts - right?

It has to be sustainable. It has to function. It has to "reason" with the trader. Losses are a part of trading. Should one think otherwise, that would be wrong.This here is the ultimate. I would not normally engage in the weekly...
Good evening Tau,
Before I drive home....
The larger TF you use, the bigger RISK, but signals are the same. On a long term it should pay good, but in FOREX trading you will have to consider the exceptable lost once the trade goes the other way, and of course add some extra pips to SL just to avoid some spikes like today. The target would be several weeks away so waiting for it in a weekly chart would be hard. And of course trusting the indicator!? --> Trust your self!
Myself, in forex I use upto daily, like you mentioned the anticipation in weekly is a killer.
  • #1,259
  • Aug 2, 2012 11:14am Aug 2, 2012 11:14am
Quoting tomspin
Hey Mike

Hope you are well mate. Consider daily charts or H4 if you are busy,
Gold made another really nice top same goes for SP 500.
I think next good buy point could be at 1570,20 if you consider very slow, consolidating daily uptrend
I use 4H charts for now and I don't want to mix my head with extra pairs now, I learned that in many cases better sit aside than be in trade saying I am in.
My TP is 1575; The gold moves nice with R&S Trend moves, though it should be around 1570 like you mentioned, but I used extra 5 bucks to be protected. Lately I had too many misses for my second targets, in many cases it was less than a pip misses for pairs and less than 10 cents for gold.
  • #1,260
  • Aug 2, 2012 11:27am Aug 2, 2012 11:27am
Quoting mikeylp
Good evening Tau,
Before I drive home....
The larger TF you use, the bigger RISK, but signals are the same. On a long term it should pay good, but in FOREX trading you will have to consider the exceptable lost once the trade goes the other way, and of course add some extra pips to SL just to avoid some spikes like today. The target would be several weeks away so waiting for it in a weekly chart would be hard. And of course trusting the indicator!? --> Trust your self!
Myself, in forex I use upto daily, like you mentioned the anticipation in weekly...
Thank you for the post...

Hope you steer clear of accidents posting whilst driving..

Risk/reward.

All the best

Regards
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