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  • #1,721
  • Aug 17, 2012 3:25am Aug 17, 2012 3:25am
I think we may range between 70 and 40 until data release and then expect a break from that box, if so I would set buy limit @ 2380 and sell stop @ 2330 so price can catch up in case of a breakout.
swing it!
  • #1,722
  • Edited 4:08am Aug 17, 2012 3:43am | Edited 4:08am
Quoting FXMindset
D1 - Up formation
W1 - Down formation :nerd:

Be Carefully...
After His Target UPWARD finish, He will go DOWN !

Remember, Today is FRIDAY. Everything will be Happen...
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-08-16_EU in W1 Chart.png Size: 35 KB
Always looking the GREAT, never left GOOD Point...
  • #1,723
  • Aug 17, 2012 3:50am Aug 17, 2012 3:50am
Somebody send me a lap dance... its 4 o'clock in the morning on a Friday after a long week... and I need to stay awake.
Attached Image
  • #1,724
  • Aug 17, 2012 4:02am Aug 17, 2012 4:02am
Quoting Crassius
Somebody send me a lap dance... its 4 o'clock in the morning on a Friday after a long week... and I need to stay awake.
Good black coffee will do the trick mate
Like your post from last night about talking somebody out of his trading plan - sometimes we keep forgeting that it is "every man for himself" business model and it is very important to set plan beforehand and stay with it no matter what.
I am 10 pips away from the trigger.
swing it!
  • #1,725
  • Aug 17, 2012 4:06am Aug 17, 2012 4:06am
I had some sell limits layered in from 1.2373 to 1.2395 at the start of the day... ( 1.5 hours before European cash equities open )

I got a fill on one at 1.2373 and stopped out in the green at 1.2353 after cranking down the stop.

Currently flat, Euro wants higher... I have canceled all sells, and left a buy at 1.2405.
  • #1,726
  • Aug 17, 2012 4:08am Aug 17, 2012 4:08am
watch out the D1 Strong resistance @ 1.2287
If there was easy money lying around,no one would be forcing it into your
  • #1,727
  • Aug 17, 2012 4:15am Aug 17, 2012 4:15am
Quoting FXMindset
watch out the D1 Strong resistance @ 1.2287
Yep... lots of supply layered in the market up to the 1.2400.... but there are also some sizable buy orders just above 1.2400....

I'm just gonna stay out of the zone of contention between 1.2375 and 1.2400 as its Friday, and I need to close all orders by European equity close... just 6 hours away.

If price gets the happy dance and eats through all that supply, breaks the big fig, it'll have some serious 'Mo to carry it toward 2440ish....

else... I stay flat and go into the weekend with my profits intact.
  • #1,728
  • Aug 17, 2012 4:16am Aug 17, 2012 4:16am
I have noticed double bottom on H4 from 2265 level where initial rally started 10/08/12 and yesterdays low off the H4 trendline, if true we should see 2470/80
swing it!
  • #1,729
  • Aug 17, 2012 4:27am Aug 17, 2012 4:27am
Quoting tomspin
I have noticed double bottom on H4 from 2265 level where initial rally started 10/08/12 and yesterdays low off the H4 trendline, if true we should see 2470/80
If we break 2440ish high, that is a line in the sand for long term shorts that are hoping for one more leg down... break that and we go higher fast... but that's a long way from where we started today... we have to keep ATR in mind every day.... R2 is 2445 and its FRIDAY which trades like a shortened day, cause it is for many who don't hold positions over a weekend.
  • #1,730
  • Aug 17, 2012 4:38am Aug 17, 2012 4:38am
Quoting Crassius
If we break 2440ish high, that is a line in the sand for long term shorts that are hoping for one more leg down... break that and we go higher fast... but that's a long way from where we started today... we have to keep ATR in mind every day.... R2 is 2445 and its FRIDAY which trades like a shortened day, cause it is for many who don't hold positions over a weekend.

Agree, such a break would certainly open 26xx for us, very poorly executed limit on my side, I jumped too fast, I am bullish for now but as you said it is friday so atm not feeling comfy with that entry - will go trought it during weekend to see where I made mistake, ahhh rookie rookie mistake.
I just basically place limit under res which FXM pointed out - risky thing to do however heard that buying top is not neccessarly a bad thing - meaning look for opportunity where others don't see it.
I would imagine 2450/60 is full of stops from previous leg at 2440 right?
heh or I want to see it that way
swing it!
  • #1,731
  • Aug 17, 2012 4:46am Aug 17, 2012 4:46am
Quoting tomspin
Agree, such a break would certainly open 26xx for us, very poorly executed limit on my side, I jumped too fast, I am bullish for now but as you said it is friday so atm not feeling comfy with that entry - will go trought it during weekend to see where I made mistake, ahhh rookie rookie mistake.
I just basically place limit under res which FXM pointed out - risky thing to do however heard that buying top is not neccessarly a bad thing - meaning look for opportunity where others don't see it.
I would imagine 2450/60 is full of stops from previous...
Yeah.. there will be huge stops above 2440ish...

Real men aren't afraid to buy high... you just have to be choosey...

You buy high when there is going to be strong momentum right at your buy area because some key level just broke... that causes a lot of stops to pop, and gooses price rapidly away from your entry.... (momentum) you need that if you're going to buy high... this gives some room away from your entry for the trade to work...

If you buy high right into the bottom of existing supply, you just get knocked back, get underwater and struggle from there... you want to buy high just above where all the sellers have given up and suddenly pull their supply.
  • #1,732
  • Aug 17, 2012 6:51am Aug 17, 2012 6:51am
Just thinking out loud.... I'm focussed on a GU trade - so not trading EU

Regards
Attached Image (click to enlarge)
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  • #1,733
  • Edited 7:30am Aug 17, 2012 7:10am | Edited 7:30am
Quoting Tsar
W1 - Down formation :nerd:

Be Carefully...
After His Target UPWARD finish, He will go DOWN !

Remember, Today is FRIDAY. Everything will be Happen...
Quoting Tsar
BULLISH really too Strongest...
No Brake and No Delay, Potential go 1.2385 or Higher 1.2400+
His Upward Not finish @ Price 1.2381 go DOWN
Watch in Price 1.2331 or Lower 1.2317 got Potential BREAK in there...

PINBAR mode ON !
Always looking the GREAT, never left GOOD Point...
  • #1,734
  • Aug 17, 2012 7:11am Aug 17, 2012 7:11am
Quoting tomspin
I have doubts sometimes...

http://www.youtube.com/watch?v=SRw0K05z6as
Good day to you,

OK - I understand...

And you are not wrong.

Well,well,well

All success
  • #1,735
  • Aug 17, 2012 7:12am Aug 17, 2012 7:12am
Quoting Tsar
His Upward Not finish @ Price 1.2381 go DOWN
Watch in Price 1.2331 got Potential BREAK in there...

PINBALL mode ON
Good day to you, sir

1.2260?

Regards
  • #1,736
  • Aug 17, 2012 7:14am Aug 17, 2012 7:14am
I know what you wants playing Mr.Friday


Btw,Morning Gays...Morning Sir Tau ^.^
If there was easy money lying around,no one would be forcing it into your
  • #1,737
  • Aug 17, 2012 7:18am Aug 17, 2012 7:18am
Reports Merkel is considering alteration of Greek bailout terms getting a bid in DAX and EURUSD
  • #1,738
  • Aug 17, 2012 7:18am Aug 17, 2012 7:18am
Quoting TauTrader
Good day to you, sir

1.2260?

Regards
Too LOWEST Bro... Analysis with PRICE ACTION.
MA 200 (GOLD Colour MA) is 1.2321 in Previous my Post.

See CABLE Now...
She moved UPWARD again
Always looking the GREAT, never left GOOD Point...
  • #1,739
  • Aug 17, 2012 7:18am Aug 17, 2012 7:18am
Quoting Crassius
I had some sell limits layered in from 1.2373 to 1.2395 at the start of the day... ( 1.5 hours before European cash equities open )

I got a fill on one at 1.2373 and stopped out in the green at 1.2353 after cranking down the stop.

Currently flat, Euro wants higher... I have canceled all sells, and left a buy at 1.2405.
Good day to you, sir

I must say.. I do admire your trading skills.

Very well done on your short earlier. I need to take a leaf from your book and get my discipline sorted out. Discipline is the only single thing that will hamper my progress...

Gotta become a sniper.

Thank you for your posts. Appreciated.

Have a good week-end.

All success to you

Regards
  • #1,740
  • Aug 17, 2012 7:26am Aug 17, 2012 7:26am
Quoting Tsar
Too LOWEST Bro...
MA 200 (GOLD Colour MA) is 1.2321 in Previous my Post.

See CABLE Now...
She moved UPWARD again
Good day,

OK. I understand.

Yes - GU moved up again.. because that is part of the function.

Never a free ride. Hard work only. If she did not go higher before NY - I would become concerned. I do not want to go into an argument with you... I respect you too much, sir.

My opinion - MA's are formed by price. Price determine their position on your chart. The dog wags the tail. The tail does not wag the dog.

Make sense?

Anyway - you are far more experienced than I am... I take cognisance of your post and will make a mental note.

Appreciate the time you take to engage me.

All the best to you

Regards
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