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  • #682,521
  • Aug 21, 2012 11:20am Aug 21, 2012 11:20am
Quoting pip_trader
Yeah, I hope the my cynicism is apparent. I love making money either way, but the market is clouded. To hell with technical or fundamental analysis or anything alike. Today it seems not to matter. It comes down to trading on word of mouth.
ugh....I used to think like this as well.

Fact is - if your unable to see the trend, its likely because your not looking at the higher time frames.

Daily chart signaled the up trend since july 19th low.

Weekly chart also has a pretty clear trend showing from that same week

Monthly trend is a little convoluted, but you can still see that we have been rising.
  • #682,522
  • Aug 21, 2012 11:21am Aug 21, 2012 11:21am
what is showing you buying signals?
  • #682,523
  • Aug 21, 2012 11:23am Aug 21, 2012 11:23am
-500 pips
Kept my shorts thinking it may retrace only to go higher and higher.
Where is the retrace?
That's over 100pip move up without a retrace.
I can't find any relevant news.
I am very upset of myself.
In trading, you have to be defensive and aggressive at the same time
  • #682,524
  • Aug 21, 2012 11:26am Aug 21, 2012 11:26am
[quote=Davit;5945966]-500 pips

i closed out my trade at -.01 pip due to lack of patience after 7 hours of a dormant market. one hour later the market move 120 plus pips.

at least i was short usdchf and pulled in +75 at a higher lot.

always use a stop. always. even if it means missing the +120 run and closing out at BE.
  • #682,525
  • Aug 21, 2012 11:28am Aug 21, 2012 11:28am
Quoting Davit
-500 pips
Kept my shorts thinking it may retrace only to go higher and higher.
Where is the retrace?
That's over 100pip move up without a retrace.
I can't find any relevant news.
I am very upset of myself.
Good, that will be an effective lesson to teach u how to use proper Stop lose - if you hand is cuted and you kept it bleeding , don't be surprise if you die
"It's the Margin, Stupid."
  • #682,526
  • Aug 21, 2012 11:45am Aug 21, 2012 11:45am
Quoting Vachus
Good, that will be an effective lesson to teach u how to use proper Stop lose - if you hand is cuted and you kept it bleeding , don't be surprise if you die

I partly agree...There is a limit for everything...If you dnt shave your beard ever,will it touch the ground..?? certainly not
  • #682,527
  • Aug 21, 2012 11:46am Aug 21, 2012 11:46am
Quoting pip_trader
Yeah, I hope the my cynicism is apparent. I love making money either way, but the market is clouded. To hell with technical or fundamental analysis or anything alike. Today it seems not to matter. It comes down to trading on word of mouth.
thats how it always is... its never easy. Its harder than any other job because first you deal with spread/commision, then your SL's are hunted and positions are actually opposite of what you want (when you buy market sells etc) and then you have to "know" what the big boys are thinking. Today no news major spike.... it has to be because ppl were short with SL's set there. Wonder what actual news will do with FOMC
  • #682,528
  • Aug 21, 2012 11:48am Aug 21, 2012 11:48am
Quoting almo
ugh....I used to think like this as well.

Fact is - if your unable to see the trend, its likely because your not looking at the higher time frames.

Daily chart signaled the up trend since july 19th low.

Weekly chart also has a pretty clear trend showing from that same week

Monthly trend is a little convoluted, but you can still see that we have been rising.
Actually, I do. I am a mechanical trader and do very well. No need to use subjective tech analysis because anyone can make anything out of nothing. Looked at the EUR/USD weekly dating back 2011. Lower highs, lower highs. According to techies, that is bearish. 4 weekly candles from a low does not look like a trend. If anything it may be a short term movement. That's fine. Look further back and if you see any trend it is down.

People need to actually read and analyze my posts. If not - awesome - but don't comment on them. Actually think about it. The market moves on chatter. The Euro was ranging the last week and just now moved +116 pips when Lockhart said no QE3. It is that simple. The market hopes the economic contagion is resolved. The does not make me a bull or bear. It makes me a trader.
  • #682,529
  • Aug 21, 2012 11:48am Aug 21, 2012 11:48am
Quoting Vachus
If someone can help me : I'm looking for the Gold chart , that's quoted now at 1,640.20 ..

I already tried to locate it but not any luck
XAUUSD should be in your trading platform if you can trade other instruments besides FX.
Over thinking over analyzing separates the body from the mind.
  • #682,530
  • Aug 21, 2012 11:49am Aug 21, 2012 11:49am
looks it's want make green hourly again
Mohan
  • #682,531
  • Aug 21, 2012 12:03pm Aug 21, 2012 12:03pm
Quoting 3stepsahead
XAUUSD should be in your trading platform if you can trade other instruments besides FX.
I found it , i did not know its name - that was the problem
"It's the Margin, Stupid."
  • #682,532
  • Aug 21, 2012 12:22pm Aug 21, 2012 12:22pm
EURUSD has broken above the important resistance zone of 1.2440. Looks like EURUSD is going to follow scenario #1.

http://www.forexfactory.com/showthre...84#post5939284

Quoting ForexMGames
O sleeping EURUSD beauty! When are you waking up? Which direction are you going? Are you going out with Mr Bull or the Mr Bear?

http://i49.tinypic.com/foiowg.jpg

This slumber of yours is causing many traders to be sleepy and not watch EURUSD attentively. At the point of maximum drowsiness, EURUSD will break out. And when it does, it may go onto a fast and furious trending mode.

So here are my 2 scenario analysis for the bulls and bears.

Scenario #1 (Mr Bull)
For the bulls to prevail, this has to happen.

http://i45.tinypic.com/29utvtx.png


Scenario...
  • #682,533
  • Aug 21, 2012 12:22pm Aug 21, 2012 12:22pm
Quoting Stonar901
i dont think so we have to test 1st 2323 if it breaks below then on the 4hrs 2300 if we mainated an hour close under that its bearish specially that the eur/jpy is looking for that as well
wanted to tell you this yesterday....

there's no such thing as "have to" in trading.
  • #682,534
  • Aug 21, 2012 12:27pm Aug 21, 2012 12:27pm
Quoting pkimnyc
wanted to tell you this yesterday....

there's no such thing as "have to" in trading.
It's binary. Either it does or does not.
  • #682,535
  • Aug 21, 2012 12:46pm Aug 21, 2012 12:46pm
tmr will be a nice retracement day
  • #682,536
  • Aug 21, 2012 12:48pm Aug 21, 2012 12:48pm
Going back to the drawing board for....

anyone on vacation???
Daytrader
  • #682,537
  • Aug 21, 2012 1:01pm Aug 21, 2012 1:01pm
Quoting mahimahi
Going back to the drawing board for....

anyone on vacation???
Moves are done for the day. Nothing to see or talk about.
  • #682,538
  • Aug 21, 2012 1:08pm Aug 21, 2012 1:08pm
short to 2427 and there long to 2520
  • #682,539
  • Aug 21, 2012 1:27pm Aug 21, 2012 1:27pm
Quoting Davit
-500 pips
Kept my shorts thinking it may retrace only to go higher and higher.
Where is the retrace?
That's over 100pip move up without a retrace.
I can't find any relevant news.
I am very upset of myself.
theres too much optimism thats why. I didnt enter for that kind of trade yesterday because we had 2 rallies.
Alternatives are more important than the plan itself
  • #682,540
  • Aug 21, 2012 1:28pm Aug 21, 2012 1:28pm
Quoting ForexMGames
EURUSD has broken above the important resistance zone of 1.2440. Looks like EURUSD is going to follow scenario #1.

http://www.forexfactory.com/showthre...84#post5939284
hmmm, interesting insights. it shud retrace downwards a bit or may be asian session will see it move further north.
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