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  • #4,901
  • Aug 8, 2012 10:59pm Aug 8, 2012 10:59pm
Quoting jeff_b
Honest question: why are you guys shorting this pair when the data came out all green & it broke the raising channel?

They like to bet against the trend and believe that the terms "overbought" and "oversold" have any meaning at all in Forex.

They also believe in the "buy the rumour, sell the fact" bullcrap.

I, on the other hand, am about to add to my GBP/AUD short.
  • #4,902
  • Aug 8, 2012 10:59pm Aug 8, 2012 10:59pm
Quoting jeff_b
Honest question: why are you guys shorting this pair when the data came out all green & it broke the raising channel? I see at least 1.064 with a retracement to 1.058 sometime today. I'm on the sideline, the EU fundamentals are not good so I don't want to go long but at the same time, this pair is bullish until 1.08. That's my view, critics welcome.
because we want a better spot to long this pair*

*terms and conditions apply

I see the potential of her going to 1.0650 and 1.0716, but I wouldn't go long on her at this point for sure, if she does go to those points from here without some "decent" retracement, then...tough luck, I'm not getting the piece of the pie from her
  • #4,903
  • Aug 8, 2012 11:01pm Aug 8, 2012 11:01pm
Exactly why I play EURAUD, its much more predictable whether or not USD is going up or down.
Be hopeful in a winning position, and fearful in a losing position.
  • #4,904
  • Aug 8, 2012 11:05pm Aug 8, 2012 11:05pm
Quoting kibescorp
They like to bet against the trend and believe that the terms "overbought" and "oversold" have any meaning at all in Forex.

They also believe in the "buy the rumour, sell the fact" bullcrap.

I, on the other hand, am about to add to my GBP/AUD short.

I'm under the impression that there's too much supply of AUD, that's why I'm bearish across the AUD pairs.
Play the players, not the cards.
  • #4,905
  • Aug 8, 2012 11:06pm Aug 8, 2012 11:06pm
Quoting kibescorp
They like to bet against the trend and believe that the terms "overbought" and "oversold" have any meaning at all in Forex.

They also believe in the "buy the rumour, sell the fact" bullcrap.

I, on the other hand, am about to add to my GBP/AUD short.
naah, there's no such thing as overbought in a bull market, and likewise oversold in a bear market
  • #4,906
  • Aug 8, 2012 11:13pm Aug 8, 2012 11:13pm
Quoting irfandbl
naah, there's no such thing as overbought in a bull market, and likewise oversold in a bear market
Yes there certainly is! These are some of the lowest risk trades, there most definitely is an overbought and oversold. This is one of the main indicators contratrend traders look for. Structure supply/demand is needed as well but when they both match up the odds are heavily in your favori. Even trend traders who are trying to find great spots to take profit only to get back in after the pullback, look for overbought and oversold.

Does not mean it will not go higher/lower, just means a pullback is needed before trend continues...
Be hopeful in a winning position, and fearful in a losing position.
  • #4,907
  • Aug 8, 2012 11:17pm Aug 8, 2012 11:17pm
Quoting jeff_b
Honest question: why are you guys shorting this pair when the data came out all green & it broke the raising channel? I see at least 1.064 with a retracement to 1.058 sometime today. I'm on the sideline, the EU fundamentals are not good so I don't want to go long but at the same time, this pair is bullish until 1.08. That's my view, critics welcome.
If the Forex market is as rational as your thinking, we would all be millionaires already.
daddybearforex. com
  • #4,908
  • Aug 8, 2012 11:19pm Aug 8, 2012 11:19pm
Quoting Rag2RichesFX
Yes there certainly is! These are some of the lowest risk trades, there most definitely is an overbought and oversold.

Does not mean it will not go higher/lower, just means a pullback is needed before trend continues...
agree, what I meant by there's no such thing as overbought and oversold was it doesn't mean that it would not go higher/lower, but a "decent" pullback is needed, hence I'm not adding longs at these point as I stated before

I'm an Aussie bull, but I don't mind taking any shorts if possible (I'm no idealist), hence I'm a bullear
  • #4,909
  • Aug 8, 2012 11:21pm Aug 8, 2012 11:21pm
Put the bears in their cages getting ready for bile extraction. )
  • #4,910
  • Aug 8, 2012 11:21pm Aug 8, 2012 11:21pm
Quoting kibescorp
They like to bet against the trend and believe that the terms "overbought" and "oversold" have any meaning at all in Forex.

They also believe in the "buy the rumour, sell the fact" bullcrap.

I, on the other hand, am about to add to my GBP/AUD short.
Welcome kibescorp! I guess this is the first time you are here. There are some good traders in our thread. They might see something you did not see. If the Forex market always follows what you are thinking, it would be very easy to make money in this market. -DB-
daddybearforex. com
  • #4,911
  • Aug 8, 2012 11:25pm Aug 8, 2012 11:25pm
Papa, I think it's time to call in those lurkers for today
  • #4,912
  • Aug 8, 2012 11:26pm Aug 8, 2012 11:26pm
Quoting forexmy
Put the bears in their cages getting ready for bile extraction. )
You see, Forex market changes second by second. May be you have to watch your bile outside bears' cage.
daddybearforex. com
  • #4,913
  • Aug 8, 2012 11:30pm Aug 8, 2012 11:30pm
Quoting irfandbl
Papa, I think it's time to call in those lurkers for today
O.K. Attention all lurkers! Please come to join us.
Attached Image
daddybearforex. com
  • #4,914
  • Aug 8, 2012 11:30pm Aug 8, 2012 11:30pm
1.0602 - 10617 area is a very thick one, going to be tough to break IMO
  • #4,915
  • Aug 8, 2012 11:34pm Aug 8, 2012 11:34pm
Sup yaaallll.

Yep, I'm thinking bull fake-out. Looking for conviction to short.
  • #4,916
  • Aug 8, 2012 11:37pm Aug 8, 2012 11:37pm
Quoting SemperOorah
Sup yaaallll.

Yep, I'm thinking bull fake-out. Looking for conviction to short.
Welcome SemperOorah! So, you are short. How short are you?
daddybearforex. com
  • #4,917
  • Aug 8, 2012 11:37pm Aug 8, 2012 11:37pm
Dat 15m pinbar.
Play the players, not the cards.
  • #4,918
  • Aug 8, 2012 11:37pm Aug 8, 2012 11:37pm
Quoting SemperOorah
Sup yaaallll.

Yep, I'm thinking bull fake-out. Looking for conviction to short.
what's up buddy, once DaddyBear said "there's always a firework before the party's over"
  • #4,919
  • Aug 8, 2012 11:39pm Aug 8, 2012 11:39pm
Quoting GnarlyPips
Dat 15m pinbar.
Are you talking about the shooting star?
daddybearforex. com
  • #4,920
  • Aug 8, 2012 11:42pm Aug 8, 2012 11:42pm
Quoting DaddyBear
Welcome SemperOorah! So, you are short. How short are you?
Just got off the sideline and took a small position on 1.0600. Market loves nice round numbers right? I can't lose.
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