Be hopeful in a winning position, and fearful in a losing position.
- #689,161
- Sep 7, 2012 4:44am Sep 7, 2012 4:44am
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
- #689,163
- Sep 7, 2012 4:47am Sep 7, 2012 4:47am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
2760 seems a very valid target because it is 50% retrace and it would take out the tight stops
I might just have to short this again if we are going to be double topping here..
It is Friday and there is no point to try to break 92/96 weekly resistance with some secondary German news
Eventually may run stops above 1.27 but i do not see much gain for this week. Now around 100pips.
They think they are smarter than I am.
- #689,164
- Sep 7, 2012 4:48am Sep 7, 2012 4:48am
"For sure" & "must" are words you should ban from your vocabulary while trading forex.
At least i have!
The fragrance remains in the hands of those that gves the rose
- #689,165
- Sep 7, 2012 4:50am Sep 7, 2012 4:50am
- Joined Jul 2012 | Status: CME seat owner | 6,134 Posts
Yea.
It is Friday and there is no point to try to break 92/96 weekly resistance with some secondary German news
Eventually may run stops above 1.27 but i do not see much gain for this week. Now around 100pips.
So perhaps NY will take profit and maybe NFP will be the catalyst
Next week though anything is possible before Ben on the 13th... and we usually see dollar weakest right before FOMC and rate decision
Be hopeful in a winning position, and fearful in a losing position.
- #689,166
- Sep 7, 2012 4:52am Sep 7, 2012 4:52am
- | Joined Jun 2012 | Status: Cogito ergo $um | 1,519 Posts
- #689,167
- Sep 7, 2012 4:52am Sep 7, 2012 4:52am
- | Joined Mar 2012 | Status: Tip of the iceberg | 252 Posts
Yea.
It is Friday and there is no point to try to break 92/96 weekly resistance with some secondary German news
Eventually may run stops above 1.27 but i do not see much gain for this week. Now around 100pips.
There is nothing in the Universe but mathematical points of force.
- #689,168
- Sep 7, 2012 4:52am Sep 7, 2012 4:52am
- | Joined Aug 2012 | Status: Trader | 2,263 Posts
A 1 pip gain is better than a 1 pip loss.
- #689,169
- Sep 7, 2012 4:52am Sep 7, 2012 4:52am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
Even the worst trade can close with profit. Just give it time.
- #689,172
- Sep 7, 2012 4:59am Sep 7, 2012 4:59am
- | Joined Jun 2012 | Status: Cogito ergo $um | 1,519 Posts
- #689,174
- Sep 7, 2012 5:04am Sep 7, 2012 5:04am
- | Joined Dec 2011 | Status: NZ Trader | 1,652 Posts
Even the worst trade can close with profit. Just give it time.
- #689,175
- Sep 7, 2012 5:04am Sep 7, 2012 5:04am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan
- #689,177
- Sep 7, 2012 5:07am Sep 7, 2012 5:07am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
Yeah but no weekly close above these levels, that wouldn't look good would it..
So perhaps NY will take profit and maybe NFP will be the catalyst
Next week though anything is possible before Ben on the 13th... and we usually see dollar weakest right before FOMC and rate decision
Some technical crap follows now,
4hr cycle (gmt+1) closed at 817, 8-9 (gmt+1) hourly close was 716 and that support held for now.
Now 927 should keep price capped from breaking above before NFP.
So, looks like stop run now, then NFP first leg down and then it shoots up.
just possible scenario
They think they are smarter than I am.
