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  • #676,881
  • Aug 7, 2012 2:11pm Aug 7, 2012 2:11pm
Quoting attila
Same plan as yesterday..

http://www.forexfactory.com/showthre...49#post5907649

We're below 2409.. That's an h1 level.. What I'm usually looking for when one of these things are broken is a reversal pattern right underneath it.. There is none right now, but there's a lot of silliness going on with the roll now, so it's hard to tell.. If it doesn't do that, then the next down is 2377.. and we'll see what it does there..
1.2377 area makes sense for me.
  • #676,882
  • Aug 7, 2012 2:12pm Aug 7, 2012 2:12pm
Quoting Chicky
This is eur/usd Daily Chart.

I won't be surprised if it goes to 1.2280.

Seems it's making an attempt at 1.2500.

I am going for a 1000 pip move north. It may take a lot of time to get there.
How much (pips) are you risking?
"Men who can both be right and sit tight are uncommon."
  • #676,883
  • Aug 7, 2012 2:13pm Aug 7, 2012 2:13pm
Quoting attila
Same plan as yesterday..

http://www.forexfactory.com/showthre...49#post5907649

We're below 2409.. That's an h1 level.. What I'm usually looking for when one of these things are broken is a reversal pattern right underneath it.. There is none right now, but there's a lot of silliness going on with the roll now, so it's hard to tell.. If it doesn't do that, then the next down is 2377.. and we'll see what it does there..
850 will be a very good indicator for 750 behavior , if it holds a bit - this should mean that 750 has the strength to push it up
"It's the Margin, Stupid."
  • #676,884
  • Aug 7, 2012 2:16pm Aug 7, 2012 2:16pm
Quoting Vachus
850 will be a very good indicator for 750 behavior , if it holds a bit - this should mean that 750 has the strength to push it up
h4 is negative, h1 is undecided.. but h4 still has that darn 2450 open, was missed by several pips (I know, one pip lower than the previous high..) but still.. So, it's kinda down atm. but it can also turn and invalidate everything.. I still have very valid targets higher.. These will only be invalidated by a very strong move down.. 2377 would not cut it..

Either way, just keep an eye on it if it moves back above 2409. That invalidates 2377, but it has to do it as part of a reversal pattern, so it has to happen rather sooner than later..
  • #676,885
  • Aug 7, 2012 2:25pm Aug 7, 2012 2:25pm
2402 is resistance on m15 atm (was played yesterday as well..). 2414 and 2430 above it.. could make it retrace if it gets there..

m15 below here has 2377, same as h1..
  • #676,886
  • Aug 7, 2012 2:26pm Aug 7, 2012 2:26pm
This is eur/usd 15Minutes chart.

Gives a good idea how it may bounce before going up, if it goes up.

However, the best is to keep your positions small enough that they remain unaffected by normal market volatility. But if you decide to carry a big position, may like to take a chance with a tight sl. Those big positions should always be after pa establishes a strong support/resistance to minimize frequent stop-outs. More than a couple of stop-outs eat up all your past and future profits and shake your confidence so much that you may decide not to enter with a big position when time is right.
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The Thief of Wall Street
  • #676,887
  • Aug 7, 2012 2:31pm Aug 7, 2012 2:31pm
Quoting Mike8
How much (pips) are you risking?
500 max.

The trade is so big that I will be able to change the direction based on fundamentals before it goes 500 pips against me. 1.2250 is the nearest level, second is 1.2200 and last is 1.2000 Plus/Minus 50/60 pips.
The Thief of Wall Street
  • #676,888
  • Aug 7, 2012 2:33pm Aug 7, 2012 2:33pm
Quoting Chicky
500 max.

The trade is so big that I will be able to change the direction based on fundamentals before it goes 500 pips against me. 1.2250 is the nearest level, second is 1.2200 and last is 1.2000 Plus/Minus 50/60 pips.
Interesting.
"Men who can both be right and sit tight are uncommon."
  • #676,889
  • Aug 7, 2012 2:34pm Aug 7, 2012 2:34pm
One of the worrisome aspects for longs is the sp hitting 1400 after a long run up... It's currently retracing from there..
  • #676,890
  • Aug 7, 2012 2:36pm Aug 7, 2012 2:36pm
Quoting Mike8
Interesting.
One or two such trades a year are more than enough to generate good profit plus you know why you are short or long.
The Thief of Wall Street
  • #676,891
  • Aug 7, 2012 2:42pm Aug 7, 2012 2:42pm
the correction should be coming to an end but it needs a final push to the upside and that will be the first leg of a complex correction so i will be looking to sell at 1.2460 sloss above 1.25 and final target 1.222
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  • #676,892
  • Aug 7, 2012 2:43pm Aug 7, 2012 2:43pm
Quoting Chicky
One or two such trades a year are more than enough to generate good profit plus you know why you are short or long.
Make sense, myself I will be developing a long time method soon along with my short term one.
"Men who can both be right and sit tight are uncommon."
  • #676,893
  • Aug 7, 2012 2:44pm Aug 7, 2012 2:44pm
Quoting Rag2RichesFX
Serious?? Any explanation to go with why you are looking for that much?

That would be more of a reversal, not a retrace.
US unemployment and Europe's commitment to save the Union at WHATEVER cost. Let's see. I can speculate the future direction based on only what is currently going on. When future will start proving me wrong, will change the direction accordingly. Big swing trades are low risk and have many advantages.
The Thief of Wall Street
  • #676,894
  • Aug 7, 2012 2:46pm Aug 7, 2012 2:46pm
Quoting Mike8
Make sense, myself I will be developing a long time method soon along with my short term one.
I think one needs nothing but money management and little bit of economics knlowlege to play longer term.

Go with fundamentals as and when they start changing.
The Thief of Wall Street
  • #676,895
  • Aug 7, 2012 2:46pm Aug 7, 2012 2:46pm
Quoting nawafasad1
the correction should be coming to an end but it needs a final push to the upside and that will be the first leg of a complex correction so i will be looking to sell at 1.2460 sloss above 1.25 and final target 1.222
Nice bottom buying there.
"Men who can both be right and sit tight are uncommon."
  • #676,896
  • Aug 7, 2012 2:52pm Aug 7, 2012 2:52pm
Quoting Chicky
I think one needs nothing but money management and little bit of economics knlowlege to play longer term.

Go with fundamentals as and when they start changing.
I don't believe they are changing (for U.S. getting worse yes, but is that enough to over power EZ issues without intervention?)

It's just a much needed correction (imo)

Long at 2100 with stops below 1600 or even 1875 would have made more sense to me.

Good luck to you though.

You did say you have been drinking today right ?
Be hopeful in a winning position, and fearful in a losing position.
  • #676,897
  • Aug 7, 2012 2:53pm Aug 7, 2012 2:53pm
Quoting Chicky
US unemployment and Europe's commitment to save the Union at WHATEVER cost. Let's see. I can speculate the future direction based on only what is currently going on. When future will start proving me wrong, will change the direction accordingly. Big swing trades are low risk and have many advantages.
Yes, sentiment is strong on the up side.

It is very noticeable in the resilience not to go down on a very bad day release and to go very much up on a just insignificant positive day release.
"Men who can both be right and sit tight are uncommon."
  • #676,898
  • Aug 7, 2012 2:55pm Aug 7, 2012 2:55pm
Quoting Mike8
Nice bottom buying there.
thank you i hope we ll get the top in the asian session to close them longs and go short all the best to all traders
  • #676,899
  • Aug 7, 2012 2:56pm Aug 7, 2012 2:56pm
Quoting Rag2RichesFX
I don't believe they are changing.

Unemployment has been bad for a while now that hasn't stopped the dollar bull. It's just a much needed correction.

Long at 2100 with stops below 1600 or even 1875 would have made more sense to me.

Good luck to you though.

You did say you have been drinking today right ?
Now I have to start sniffing too.
The Thief of Wall Street
  • #676,900
  • Aug 7, 2012 3:24pm Aug 7, 2012 3:24pm
Bro, I think you got your move down on nzdusd.
"Men who can both be right and sit tight are uncommon."
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