Dislikedya looking the same on H4 too.. but the strange thing for me is that, there is no reason to rise cable like that from those down levels..Ignored
- #678,885
- Edited 7:48pm Aug 10, 2012 7:19pm | Edited 7:48pm
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Only thing that made this a good day was closing shorts in the 60s right before the squeeze.
I wanted to get offline right before then too, luckily I did not.
Here is todays results.
Really getting offline now as I am 100% flat. Lots of good scalping opportunities still but I am too tired to keep going
Could be a big bull trap, my guess is we end the week around 2287 though.
Showing weekly close just @ 2288 on my ECN broker, 2287 on my non ECN. (can anyone confirm this??)
We seem to close around 2287 a lot of the weeks lately....
2240s was 50% fib of 2040 to 2445, no surprise we bounced there.
Good news for bulls I guess.
I have no idea what will happen next. Could shoot up just as easily as it could go test that channel line and fail.
For the bulls, I simply will post this chart. We are bearish on all time frames (except maybe the 15m but its rolling over)and my favorite 4HR. Going to be tough to be hard to go higher from this point, we need to go lower first IMO.
Not only has the hopium died and fundamentals taken over again, but so have the technicals.
I will be looking for shorts only next week most likely. Maybe a long at the trend line to see how it reacts.
But you need to realize, it's the EURO, and nothing is going to change from U.S. unemployment getting worse. We need a change in monetary policy for a sustained move higher.
At the same time, this is the most neutral I have been in a long time. Like I said technically I think bulls and bears both have a strong case, fundamentally bears win of course.
The trend is your friend, and right now, all trends point to down (well, except for this bull channel i guess).
There is a bull divergence on 4hr, that helps the bulls as well. I am very neutral so will be nimble with short entries next week.
Hope you all get something out of my charts. My spreads change to normal spreads (around 1.5-2.0) during the last few minutes of the day.
Weekly results are +1.4% main account, +28% on small account
Have a great weekend
E/U 4HR
E/U 1m-4HR
Be hopeful in a winning position, and fearful in a losing position.
- #678,888
- Aug 10, 2012 7:59pm Aug 10, 2012 7:59pm
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
Weekly results are +1.4% main account,
Great result.
"Men who can both be right and sit tight are uncommon."
- #678,889
- Edited 9:01pm Aug 10, 2012 8:51pm | Edited 9:01pm
- | Joined Jan 2011 | Status: Trader | 274 Posts
5%
This for me pure fantasy, kids stuff. I just do not understand it, sorry.
Life is not like that, there is always a price to pay. I know dreaming is free of charge but....
FROM: RAGS: I think he is using horrible MM unless he considers that a small amount of his trading capital
A lot of it could be dumb luck but just because I have few posts doesn't necessarily mean I'm a newb. I'm a NewB to forex not to technical analysis. I don't follow strategies and I don't try and find indicators that are supposed to be the holy grail of trading. Markets are unpredictable and don't really pay too much attention to theories when I'm just trying to capture market infrequencies in brief time periods. I am only entering when the probability of price hitting my target is high. My biggest advice is learn P/A, it's all you need. I don't just enter trades to enter them, they're measured and usually set a with a risk threshold of when to sell, whether it's a stop order or my finger, the level is there.
Attached you'll see three of my largest and most profitable trades and can see that my risk/reward ratio is very appealing. My biggest loss has been 229 dollars a trade and when calculated against the biggest runs the ratio is around 1:3-4, I don't see how bad my money management could be....
anyways, I'll see you guys next week. I pulled out 3 grand and will be aiming for another 3-4%, anything more and its all gravy baby.
http://img.photobucket.com/albums/v6...0at64725PM.png
Oh and I posted the picture of my account because I don't talk in terms of pips I talk in terms of dollars, as long as I'm in the green and my targets are hit pips mean nothing to me.
good day!
- #678,890
- Aug 10, 2012 9:17pm Aug 10, 2012 9:17pm
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
"Men who can both be right and sit tight are uncommon."
- #678,892
- Aug 10, 2012 9:36pm Aug 10, 2012 9:36pm
- Joined Dec 2011 | Status: Trader | 4,013 Posts
up or down can you share your graph
- #678,894
- Aug 10, 2012 9:53pm Aug 10, 2012 9:53pm
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
A chart helps those who can read it.
- #678,896
- Aug 10, 2012 10:09pm Aug 10, 2012 10:09pm
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
where will we go ? who can tells ?
"Men who can both be right and sit tight are uncommon."
- #678,900
- Aug 11, 2012 12:42am Aug 11, 2012 12:42am
- Joined Mar 2010 | Status: Trader | 42,434 Posts
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts