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  • #677,721
  • Aug 9, 2012 12:27am Aug 9, 2012 12:27am
Quoting Vilkas
We are invited?

If the euro hits zero today for sure

Quoting riskarb
If I may; you hit it on the bear-reversal bar that closed at 75? Nice job.

thanks
  • #677,722
  • Aug 9, 2012 12:28am Aug 9, 2012 12:28am
Quoting MaxDoom
Taken half off - I'll tell the wife to get the party dress out, for tonight we feast....
Hope so!

Forgot about 2360, shouldn't be much of a problem though
Be hopeful in a winning position, and fearful in a losing position.
  • #677,723
  • Aug 9, 2012 12:34am Aug 9, 2012 12:34am
Quoting Rag2RichesFX
I just figured we are going down today and we already have double top at 87/85.

But bulls are putting up a strong fight...

I agree with you that it looks like it's going down (double top, "rolling over", over bought, and number of technical reasons), but the idea of a trap is to get people to do what looks right - but isn't. So if it looks right to go short, then it would a bear trap if anything, right?

For me, still comes down to a question of just how many shorts below 2325 are left over from last Friday and how many more have come in above - best indicator I've found is discussion on forums and this has gone back and forth so much I can't tell. The number was enormous on Friday... now I don't know.

Think I'll just watch for stair-stepping as sign trapping's begun but none yet.. I'd expect the first tread would install at 2385, but it will be confusing because there is a TL system that was refined by the lows on Monday and Tuesday - now it's projection from yesterday's low comes in at about 2357 - probably be a lot of buying there.

Hey...it just bounced at 2358 as I write this.

Anyway, I'm waitin to see what happens at 2385 bear-trap-wise.
  • #677,724
  • Aug 9, 2012 12:34am Aug 9, 2012 12:34am
Quoting MaxDoom
Taken half off - I'll tell the wife to get the party dress out, for tonight we feast....
what's your tp for eu?
Sometimes it's better to be wrong,to learn..
  • #677,725
  • Aug 9, 2012 12:36am Aug 9, 2012 12:36am
Quoting MaxDoom
Taken half off - I'll tell the wife to get the party dress out, for tonight we feast....
Max, do you use always the 15m tf or you switch also to the 5?
"Men who can both be right and sit tight are uncommon."
  • #677,726
  • Aug 9, 2012 12:41am Aug 9, 2012 12:41am
Quoting RWalker
I agree with you that it looks like it's going down (double top, "rolling over", over bought, and number of technical reasons), but the idea of a trap is to get people to do what looks right - but isn't. So if it looks right to go short, then it would a bear trap if anything, right?

For me, still comes down to a question of just how many shorts below 2325 are left over from last Friday and how many more have come in above - best indicator I've found is discussion on forums and this has gone back and forth so much I can't tell. The number...
I agree with you. I don't feel very confident in my shorts right now. But More confident than I would with going long at this level.

Smart play is to be on the sidelines right now, but I'll risk 5-10 pips to make that 50-100 pip move, I hate being sidelined.
Be hopeful in a winning position, and fearful in a losing position.
  • #677,727
  • Aug 9, 2012 12:42am Aug 9, 2012 12:42am
Quoting KiNgEdwarD
what's your tp or eu?
initial target zone is 1.231x to 1.227x based upon a correction of 1.213x - 1.244x run.

the reason I took half off early was:

1) it achieved my minimum daily financial target
2) it was early london and often get an initial run in the opposite direction to the main move of the morning.
3) the Dax had a gap to close and was very close - often that will halt a run a least for a while

I will be looking for a close below the blue circle to give a better confirmation of continuence down and may add at that time
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  • #677,728
  • Aug 9, 2012 12:43am Aug 9, 2012 12:43am
Entered long on EU @ 1.2364.
TP open SL open. Will monitor the trade closely.
  • #677,729
  • Aug 9, 2012 12:44am Aug 9, 2012 12:44am
Quoting Mike8
Max, do you use always the 15m tf or you switch also to the 5?
I start with the daily then hourly for setups. Then I focus on M15 and M5 for entry

Attilla said it right earlier - if you enter on a higher tf you have to expect greater drawdown.
  • #677,730
  • Aug 9, 2012 12:45am Aug 9, 2012 12:45am
Quoting MaxDoom
initial target zone is 1.231x to 1.227x based upon a correction of 1.213x - 1.244x run.

the reason I took half off early was:

1) it achieved my minimum daily financial target
2) it was early london and often get an initial run in the opposite direction to the main move of the morning.
3) the Dax had a gap to close and was very close - often that will halt a run a least for a while

I will be looking for a close below the blue circle to give a better confirmation of continuence down and may add at that time
i have a short position from 65 ,tp 2335 without sl
Sometimes it's better to be wrong,to learn..
  • #677,731
  • Aug 9, 2012 12:47am Aug 9, 2012 12:47am
Quoting navhin
Entered long on EU @ 1.2364.
TP open SL open. Will monitor the trade closely.
If I may ask, what made you go long at this level?
Fall seven times, stand up Eight! #GGMU
  • #677,732
  • Aug 9, 2012 12:48am Aug 9, 2012 12:48am
Quoting KiNgEdwarD
i have a short position from 65 ,tp 2335 without sl

will you never learn - use a SL

put it above a support level. in this case 80 should do it.
  • #677,733
  • Aug 9, 2012 12:49am Aug 9, 2012 12:49am
Quoting KiNgEdwarD
i have a short position from 65 ,tp 2335 without sl
agree the same position
  • #677,734
  • Aug 9, 2012 12:52am Aug 9, 2012 12:52am
Quoting MaxDoom
will you never learn - use a SL

put it above a support level. in this case 80 should do it.
make 86 sl fisrt then removed,now again 86=today's high
Sometimes it's better to be wrong,to learn..
  • #677,735
  • Aug 9, 2012 12:53am Aug 9, 2012 12:53am
entered short from 1.2384 and looking for the tp 1.2280-70 area. also aiming long from there
Read the chart... Fundies are catalyst...
  • #677,736
  • Aug 9, 2012 12:54am Aug 9, 2012 12:54am
Quoting Ticker
agree the same position
i have a sl @ 2386 now,not same now i guess
Sometimes it's better to be wrong,to learn..
  • #677,737
  • Aug 9, 2012 12:54am Aug 9, 2012 12:54am
Quoting KiNgEdwarD
i have a short position from 65 ,tp 2335 without sl
Oh mate, never trade without sl and if you're wondering why, here's what happened with swissy only a few days ago:
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  • #677,738
  • Aug 9, 2012 12:55am Aug 9, 2012 12:55am
Quoting MaxDoom
initial target zone is 1.231x to 1.227x based upon a correction of 1.213x - 1.244x run.

the reason I took half off early was:

1) it achieved my minimum daily financial target
2) it was early london and often get an initial run in the opposite direction to the main move of the morning.
3) the Dax had a gap to close and was very close - often that will halt a run a least for a while

I will be looking for a close below the blue circle to give a better confirmation of continuence down and may add at that time
Took half and still have 15 lots? Plus more lots on DAX?

Respect
Be hopeful in a winning position, and fearful in a losing position.
  • #677,739
  • Aug 9, 2012 12:55am Aug 9, 2012 12:55am
be carefull !!! i am not trading rigth now. will wait the direction.
if 45 pips down i am selling
if 45 pips up i am buying
  • #677,740
  • Aug 9, 2012 12:56am Aug 9, 2012 12:56am
Quoting vickym
If I may ask, what made you go long at this level?
1.2360 has minor support. For the past hour, i can c that bull is giving fight to bear at the current level. Just to take up some pips.

Nothing much here at the moment.
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