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  • #683,641
  • Aug 23, 2012 10:59am Aug 23, 2012 10:59am
Quoting mohan76
that was London close , next 30m (1h/4h) most important

edit : yep no point of taking long here , i will take my long tomorrow , today short on top with tight s/l
Yep, short eurusd after cable has done last test of today against 1.5900.
They think they are smarter than I am.
  • #683,642
  • Aug 23, 2012 11:00am Aug 23, 2012 11:00am
Quoting divak
its gonna be funny in 2 weeks when Fed wont announce a QE3....

EDIT ; please save this post for my posterity lol
dollar has put in a bottom with price action, which suggest the market agrees.
  • #683,643
  • Aug 23, 2012 11:01am Aug 23, 2012 11:01am
another topping formation 30mins 1h....
another bull trap or bear fight back?
Patience, Emotion Control and Discipline.
  • #683,644
  • Aug 23, 2012 11:02am Aug 23, 2012 11:02am
Yet of course this was done by scalping, using high leverage.
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He who guess is LOST!
  • #683,645
  • Aug 23, 2012 11:02am Aug 23, 2012 11:02am
Quoting Vachus
Unfortunately, it took me five consecutive short loses to get an idea of what's happening ... ( Don't worry, it wasn't big loses - just my biggest profit from the last trade , which ironically was Long EUR )

BTW , what happened to your Pending Long at 1.24800 - did you have bigger stop loses ? i was thinking about you and your order when it hited the 800 yesterday and unfortunately retraced a bit ! I hope it didn't trigger your SL
Unfortunatey it did, taking a 25 pip SL . I should have waited until after FOMC....I gotta remember next time to respect those meetings!
  • #683,646
  • Aug 23, 2012 11:03am Aug 23, 2012 11:03am
Wow, I just went out for some sun, washed some dishes, threw out some trash, and then brushed my teeth ... and the price is exactly the same as when I left.
  • #683,647
  • Aug 23, 2012 11:06am Aug 23, 2012 11:06am
Quoting divak
then what is moving that up? the expected spanish request for aid on SEPTEMBER 12TH?????????
traders swinging large lines are painting the tape(advertising by buying small lots) increasing prices to encourage retail traders to jump on board for quick profits.

once the price reaches as far as can be pushed these same traders will dump all their holdings as quickly as possible at high prices, sending the price lower and likely below the 1.20 level to new lows.

less technical description is this is a SUCKER RALLY.
  • #683,648
  • Aug 23, 2012 11:07am Aug 23, 2012 11:07am
Quoting almo
Unfortunatey it did, taking a 25 pip SL . I should have waited until after FOMC....I gotta remember next time to respect those meetings!
It was really crazy man , only who had a long position at least under 1.24300 could have survived what happened yesterday ! Movement in all direction 50 up and 50 down ... don't even remind me , it was hell yesterday ! sorry to hear what happened and the lose , but at least you were right ! Congratulation on that
"It's the Margin, Stupid."
  • #683,649
  • Aug 23, 2012 11:10am Aug 23, 2012 11:10am
Quoting PolishTrader
Unfortunately I'm not familiar with gartley/butterly formations (I mean I heard about them and know that they focus on fibonacci relations but that's all).

I've just presented couple of technics (retracements,extensions,supply/demand,pivots and you can add Elliot waves to the mix if you switch to lower timeframes) which coincidentally overlap around 85/95 area.
to that you could also add the 79% retracement which convergences with the 38% like you said
  • #683,650
  • Aug 23, 2012 11:10am Aug 23, 2012 11:10am
ALERT ALERT

Prepare your shorts, the sun is burning, and the water is cool!!!!
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  • #683,651
  • Aug 23, 2012 11:10am Aug 23, 2012 11:10am
The r1 1.2573 HAS BEEN a rock solid support since we have last broken it. Consider another pop up for the scalpers.
He who guess is LOST!
  • #683,652
  • Aug 23, 2012 11:11am Aug 23, 2012 11:11am
Quoting todstars2
traders swinging large lines are painting the tape(advertising by buying small lots) increasing prices to encourage retail traders to jump on board for quick profits.

once the price reaches as far as can be pushed these same traders will dump all their holdings as quickly as possible at high prices, sending the price lower and likely below the 1.20 level to new lows.

less technical description is this is a SUCKER RALLY.
my opinion too.... people are lifting this. QE3 is just a BS, Europe hopes another BS. Nothing has changed since last week, no spanish aid till 12 september, no greek decision till October as Juncker and others said...

Pure trap
  • #683,653
  • Aug 23, 2012 11:12am Aug 23, 2012 11:12am
Quoting xandi
ALERT ALERT
what level is it? ur line is bit thick...
  • #683,654
  • Aug 23, 2012 11:14am Aug 23, 2012 11:14am
Quoting Vachus
It was really crazy man , only who had a long position at least under 1.24300 could have survived what happened yesterday ! Movement in all direction 50 up and 50 down ... don't even remind me , it was hell yesterday ! sorry to hear what happened and the lose , but at least you were right ! Congratulation on that
Ty Vachus
  • #683,655
  • Aug 23, 2012 11:16am Aug 23, 2012 11:16am
Quoting divak
my opinion too.... people are lifting this. QE3 is just a BS, Europe hopes another BS. Nothing has changed since last week, no spanish aid till 12 september, no greek decision till October as Juncker and others said...

Pure trap
Call it what you may. Yet wouldnt that mean you should stop basing your orders on current events / lack there of? Why not focus on the price action, which doesnt involve trading bias. So many people are upset about the recent movements of EUR. Yet why would SMARTMONEY allow eur to stay flat, when they can spike it and cause everyone to panic.
He who guess is LOST!
  • #683,656
  • Aug 23, 2012 11:16am Aug 23, 2012 11:16am
why ppl are shorting when we r above 1.2440...
qe3 may happen, and draghi will soon come on wires to keep his promise for euro etc etc, i wouldnt short if u r not a scalper till we break 1.2440 to downside.
  • #683,657
  • Aug 23, 2012 11:18am Aug 23, 2012 11:18am
Quoting divak
what level is it? ur line is bit thick...
there are no exactly levelīs on forex, even more in weekly analysis...you must see that this "area" wich was in the past strong support(already broken) is now a strong Resistance. This is the back to basics on forex, this is "the RULE"!

Watch out, as many many times before announced.
  • #683,658
  • Aug 23, 2012 11:18am Aug 23, 2012 11:18am
Quoting StopGuessing
Call it what you may. Yet wouldnt that mean you should stop basing your orders on current events / lack there of? Why not focus on the price action, which doesnt involve trading bias. So many people are upset about the recent movements of EUR. Yet why would SMARTMONEY allow eur to stay flat, when they can spike it and cause everyone to panic.
sure, but the way each passing resistance is stubbornly defended as a new support is crazy.

I haven't such seen a perfect ladder upwards for long. So, either a group of big guys are lifting, kicking shorts or is ECB intervening on the market????
Draghi said EUR will go to 1.30....
After all Swiss Central Bank intervenes on CHF... so why not?
  • #683,659
  • Aug 23, 2012 11:18am Aug 23, 2012 11:18am
Quoting letscry
why ppl are shorting when we r above 1.2440...
qe3 may happen, and draghi will soon come on wires to keep his promise for euro etc etc, i wouldnt short if u r not a scalper till we break 1.2440 to downside.
If your going to buy on draghi news, you will be trapped there. This seems like a preloaded move on something up coming. Remember buy on rumor sell on news.
He who guess is LOST!
  • #683,660
  • Aug 23, 2012 11:19am Aug 23, 2012 11:19am
Now its turned from a 30 pip ranging battle to 10 pip ranging battle.

Love this low liquidity.
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