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Euro/Dollar

  • #1,401
  • Aug 8, 2012 5:41am Aug 8, 2012 5:41am
Quoting FxCba
Good morning

I hate when I'm right, 2nd tgt was 2334
this happens when you apart from your trading plan, ussually set 35 pips SL, but yesterday I don't know way thought price is not going further. Well, lesson learned
Long now 2333 for some pips
One of the good strategies is to enter your trade with smaller position and setting up wider SL, than if it goes in your direction you place rest of your capital which you wanted to place in the first place - always add spread to your SL 2445 would be much better place for SL right above resistance and out of reach of your spread
swing it!
  • #1,402
  • Aug 8, 2012 5:46am Aug 8, 2012 5:46am
Quoting tomspin
One of the good strategies is to enter your trade with smaller position and setting up wider SL, than if it goes in your direction you place rest of your capital which you wanted to place in the first place - always add spread to your SL 2445 would be much better place for SL right above resistance and out of reach of your spread
yep, I know that, just was one of that stupidity days
  • #1,403
  • Aug 8, 2012 5:48am Aug 8, 2012 5:48am
I started new tests for my mid/long term strategy which is based purely on candle patterns and weekly & monthly pivots. I lost a bit at the beggining due to poor SL placement, I will be doing weekly updates and with time I'll share my knowledge so maybe it will help someone in trading.

http://s9.postimage.org/g7pyamgbj/demo.gif
upload picture
swing it!
  • #1,404
  • Aug 8, 2012 6:19am Aug 8, 2012 6:19am
As US cash equities open on Wall Street I'll be watching S&P closely to see if we take back the 1392.10 level and make another run at 1400.

If S&P changes direction... EURUSD will follow
Attached Image
  • #1,405
  • Aug 8, 2012 6:33am Aug 8, 2012 6:33am
I'd like to share my thoughts about recent COT report which came out last friday.

Euro FX
Total number of positions is very balanced for the first time in this section between non commercial & commercial part of the market. Haven't seen it for a while - balanced position suggest bottom

Euro 3 months
Again bulls coming out with full forced overwhelming bears by 100% - again bottom is in the making.

I would imagine that bottom in the market is not done in one week - it must take time so I think as a safe bet we could assume that 1,2500 - 1,2000 is our range.
General situation is bad everywhere as we know but somehow I think that market is more likely to bet on temp solution for EZ than to believe that Ben won't print.
I suck at fundies as I said many times before - COT is very important - it doesn't matter if you use it or not but we failed to break 1.20 and get that 1.1875 that we all want and current wide range is just a confirmation what COT got to say.
I am not trying to be biased it is just my observation and link between PA & what big boys are doing.

http://s14.postimage.org/i7ejz4xz5/cot.gif
photo upload
swing it!
  • #1,406
  • Aug 8, 2012 6:34am Aug 8, 2012 6:34am
Quoting Crassius
As US cash equities open on Wall Street I'll be watching S&P closely to see if we take back the 1392.10 level and make another run at 1400.

If S&P changes direction... EURUSD will follow
yep I think that todays drop was backed by SP
swing it!
  • #1,407
  • Aug 8, 2012 7:02am Aug 8, 2012 7:02am
Does not appear to be the momentum to go lower on EU now

I have reversed to longs on EU and Cable

edit: my target zone on EU started at 1.231x anyway and we have been coming in a little short of the zones the last couple of days.
  • #1,408
  • Aug 8, 2012 7:05am Aug 8, 2012 7:05am
Quoting MaxDoom
Does not appear to be the momentum to go lower on EU now

I have reversed to longs on EU and Cable

edit: my target zone on EU started at 1.231x anyway and we have been coming in a little short of the zones the last couple of days.
true, let's see what 2370 have to offer - weak bears will feel it no doubt about it - mine was stoped, playing with UJ again from 78.45
swing it!
  • #1,409
  • Aug 8, 2012 7:56am Aug 8, 2012 7:56am
Quoting FXMindset
1st Short Stop move @ 1.2371
2nd short added @ 1.2350 Stop @ 1.2370 risk 0.5% TP : Open
1st short closed @ BE
Second short remain
If there was easy money lying around,no one would be forcing it into your
  • #1,410
  • Aug 8, 2012 8:13am Aug 8, 2012 8:13am
Quoting FXMindset
1st short closed @ BE
Second short remain
Second Stop @ 1.2370
If there was easy money lying around,no one would be forcing it into your
  • #1,411
  • Aug 8, 2012 8:30am Aug 8, 2012 8:30am
Quoting MaxDoom
Does not appear to be the momentum to go lower on EU now

I have reversed to longs on EU and Cable
that worked out nicely closed both cable and EU longs

short again now

GU from 1.5663
EU from 1.2366
  • #1,412
  • Aug 8, 2012 8:53am Aug 8, 2012 8:53am
S&P kissing previous trend line from below near the European close. CFD Data

EURUSD trades 1.2362 after putting in 1.2376.
Attached Image
  • #1,413
  • Aug 8, 2012 9:10am Aug 8, 2012 9:10am
Quoting Crassius
S&P kissing previous trend line from below near the European close. CFD Data

EURUSD trades 1.2362 after putting in 1.2376.

yep this time of day potential for a slow retrace across the board.

crude has nudged upto a target zone and pulled back a little so I taken a short there
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  • #1,414
  • Aug 8, 2012 9:15am Aug 8, 2012 9:15am
Quoting MaxDoom
yep this time of day potential for a slow retrace across the board.

crude has nudged upto a target zone and pulled back a little so I taken a short there
Good trading today Max... you were nimble like a dancer. http://www.smileyvault.com/albums/st...ticon-0002.gif
  • #1,415
  • Aug 8, 2012 10:09am Aug 8, 2012 10:09am
Quoting Crassius
Good trading today Max... you were nimble like a dancer. http://www.smileyvault.com/albums/st...ticon-0002.gif

thank you Crassius
  • #1,416
  • Edited 11:59am Aug 8, 2012 11:38am | Edited 11:59am
My plans for GPBNZD ....
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Human
  • #1,417
  • Aug 8, 2012 12:39pm Aug 8, 2012 12:39pm
Hey guys,hope all is well.
50% pullback putting the brakes on any more
up movement so far.
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You can remain irrational longer than you can remain solvent.
  • #1,418
  • Aug 8, 2012 12:52pm Aug 8, 2012 12:52pm
Paul Tudor Jones video,
guessing everone's seen it but just in case..

Inserted Video
You can remain irrational longer than you can remain solvent.
  • #1,419
  • Aug 8, 2012 4:56pm Aug 8, 2012 4:56pm
Thursday D1 Range

Watch how london & NY bring today


GL
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If there was easy money lying around,no one would be forcing it into your
  • #1,420
  • Aug 8, 2012 7:30pm Aug 8, 2012 7:30pm
Quoting jezek5
Paul Tudor Jones video,
guessing everone's seen it but just in case..

Thanks Jezek... Trader junkies watch that film the way poker junkies watch old video of The World Series Of Poker.

From the film, You're risking 10 cents to make 8 bucks? That's not a bad trade!

That's the holy grail they're talking about... that's the secret.
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