DislikedClose above last highest close in the same timeframe. Thats how trend is born. It may continue, but not necessarily, because higher timeframe will dump it, which happens pretty often. Right now, I am watching H4 close below 2277. 1 and half hour to go.
TIgnored
- #47,002
- Aug 9, 2012 11:39am Aug 9, 2012 11:39am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Damn, I was rich few minutes ago.
Those who say it cannot be done should not interrupt those who are doing it
- #47,003
- Aug 9, 2012 11:40am Aug 9, 2012 11:40am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #47,004
- Aug 9, 2012 11:41am Aug 9, 2012 11:41am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #47,005
- Aug 9, 2012 11:42am Aug 9, 2012 11:42am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
Tom. You must learn to take partial profit ..
.T
"I know one thing, that I know nothing." Sokrates
- #47,006
- Aug 9, 2012 11:48am Aug 9, 2012 11:48am
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
... but eventually you will learn to take it when it is at the max and then scale in to top up your leverage after a pullback hits resistance.
"I know one thing, that I know nothing." Sokrates
- #47,007
- Aug 9, 2012 11:57am Aug 9, 2012 11:57am
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Hello guys. Sorry I was out since very early this morning. Probably didn't realize I was gone again. 
Went with wife on a day trip to Geneva. 
Just walked in the door to see I banked 100 pips 
from yesterday's open position @ 1.2375. Hope everyone had a great day, and didn't fall for the bull trap.
Went with wife on a day trip to Geneva. Just walked in the door to see I banked 100 pips from yesterday's open position @ 1.2375. Hope everyone had a great day, and didn't fall for the bull trap. - #47,008
- Aug 9, 2012 11:58am Aug 9, 2012 11:58am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Hello guys. Sorry I was out since very early this morning. Probably didn't realize I was gone again.
Glad you came home to a big smile.
Hope Geneva was just as exciting for you.
Those who say it cannot be done should not interrupt those who are doing it
- #47,009
- Aug 9, 2012 12:00pm Aug 9, 2012 12:00pm
Hello guys. Sorry I was out since very early this morning. Probably didn't realize I was gone again.
hope you enjoyed the day in Geneva.
Btw, your ema's strategy is really great, tried the 15 min tf and they work fantastic. Thanks
- #47,010
- Aug 9, 2012 12:01pm Aug 9, 2012 12:01pm
- Joined Jul 2009 | Status: Winter is coming. Ask Kondratieff. | 8,196 Posts
"I know one thing, that I know nothing." Sokrates
- #47,011
- Aug 9, 2012 12:04pm Aug 9, 2012 12:04pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
omg h1 break
End of day consolidation/profit taking
I mentioned a few times that this is a day trader's market until the real pros return in September. There is also very little follow through as a result.
At least that is my take on it anyway. I could be wrong, but by what I am seeing, I am not
Those who say it cannot be done should not interrupt those who are doing it
- #47,013
- Aug 9, 2012 12:06pm Aug 9, 2012 12:06pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Who are you?
Glad you came home to a big smile.
Hope Geneva was just as exciting for you.
Can you give me a recap on how or why we fell today? Was it something newsworthy or reality hitting in?
- #47,014
- Aug 9, 2012 12:08pm Aug 9, 2012 12:08pm
Hello guys. Sorry I was out since very early this morning. Probably didn't realize I was gone again.
- #47,015
- Aug 9, 2012 12:09pm Aug 9, 2012 12:09pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
Hey Swissy, it's nice to be away and bank pips at the same time
hope you enjoyed the day in Geneva.
Btw, your ema's strategy is really great, tried the 15 min tf and they work fantastic. Thanks
You could also use the other EMA's I posted yesterday on the 5Min TF, to zero in on price a little closer.
- #47,016
- Aug 9, 2012 12:12pm Aug 9, 2012 12:12pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
It's going to test 1.2300/10
End of day consolidation/profit taking
I mentioned a few times that this is a day trader's market until the real pros return in September. There is also very little follow through as a result.
At least that is my take on it anyway. I could be wrong, but by what I am seeing, I am not
You're dead on PT.
Great opportunity for scalping/day trading. Take your profit at end of extreme daily trading range, wait for retrace and see where PA wants to go tonight/tomorrow and get back in.
- #47,017
- Aug 9, 2012 12:14pm Aug 9, 2012 12:14pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
i did! hello
- #47,018
- Aug 9, 2012 12:17pm Aug 9, 2012 12:17pm
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
I love Geneva. It was very relaxing day trip. Wish I had a tablet so I could have checked in the thread to see what was going on.
Can you give me a recap on how or why we fell today? Was it something newsworthy or reality hitting in?
First the reality brought price down to 1.2325 support. Then former ECB chief Issing went on a rampage about how Germany cannot be blackmailed and that ECB purchasing bonds of troubled EZ countries violates EU treaties. Basically the same crap I've been saying for months, but nobody listens to me. It took Issing to read EurAnalysis and repeat my words to the media in order to compel the market to push price below support to 1.2265
I guess I owe him a big thank you.. friggin plagiarist
..."Within our mandate ECB ready to do whatever it takes to preserve the euro... and believe me it will be enough"
It's easy to see from the above statement that the market will take that as a huge promise to intervene. However, the market is known for reading stuff between the lines when such "between the line stuff" doesn't exist. My view on this statement is that the "Whatever it takes" bit is very much tied to the "Within our mandate" bit. It is not within the ECB's mandate to finance or contribute towards financing government debt. Doing so will be a violation of treaties and subject to litigation from those states opposed to such action... not to mention the negative impact such a move will have on the ECB's credibility as an institution....
Those who say it cannot be done should not interrupt those who are doing it
- #47,019
- Aug 9, 2012 12:23pm Aug 9, 2012 12:23pm
Thanks buddy. I'm glad the EMA's are helpful to you.
- #47,020
- Aug 9, 2012 12:23pm Aug 9, 2012 12:23pm
- Joined Dec 2011 | Status: Don't put all ur eggs in one basket | 3,453 Posts
A little bit of both.
First the reality brought price down to 1.2325 support. Then former ECB chief Issing went on a rampage about how Germany cannot be blackmailed and that ECB purchasing bonds of troubled EZ countries violates EU treaties. Basically the same crap I've been saying for months, but nobody listens to me. It took Issing to read EurAnalysis and repeat my words to the media in order to compel the market to push price below support to 1.2265
I guess I owe him a big thank you.. friggin plagiarist
Well, we all knew the Germans are against it. I don't know how many more times or how many other ways the market needs to hear it to realize it.