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  • #691,101
  • Sep 12, 2012 9:33am Sep 12, 2012 9:33am
Quoting Z3iz3i
To me it looks like we are up for major buying near London close.

Algos will whipsaw -/+10 at 1.29 for a while.

I may be wrong but eurgbp looks so buffed it wont drop.
If metals typically lead the way when dollar moves are dominating the Euro, then we are going down.

Kicking myself for not hedging longs.. oh well, I dont think Silver will see $31s again unless Ben disappoint

Wow I could have got short anywhere...

Silver is such a small paper market it just gets hammered. It almost always leads the way..
Be hopeful in a winning position, and fearful in a losing position.
  • #691,102
  • Sep 12, 2012 9:40am Sep 12, 2012 9:40am
Had to take a Euro break. Scored nicely buy shorting the Aussie via USD and JPY
  • #691,103
  • Sep 12, 2012 9:40am Sep 12, 2012 9:40am
OMFG...

Hope we do not see another Leap Year Massacre in the metals... this much volume is not good for a retracement..

Perhaps just a shakeout before tomorrow.

I was looking to get long at these levels but not on this much sell volume..
Be hopeful in a winning position, and fearful in a losing position.
  • #691,104
  • Sep 12, 2012 9:42am Sep 12, 2012 9:42am
Quoting Rag2RichesFX
You mean the first test after a sharp move, likely not to penetrate?

But when its slowly banging on the door its more likely to fail?

If I understand what you are saying anyway. From my experience watching S/R levels I'd say I have to agree with you
It doesn't really matter if it's the first test or not.. How it goes into it is important.. It needs to build a base of operation as close as possible to the break line. Here's how that worked..

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 47 KB
  • #691,105
  • Sep 12, 2012 9:44am Sep 12, 2012 9:44am
BIG Bear geting ready before QE nightmare day ?
Mohan
  • #691,106
  • Sep 12, 2012 9:44am Sep 12, 2012 9:44am
Quoting Rag2RichesFX
If metals typically lead the way when dollar moves are dominating the Euro, then we are going down.

Kicking myself for not hedging longs.. oh well, I dont think Silver will see $31s again unless Ben disappoint

Wow I could have got short anywhere...

Silver is such a small paper market it just gets hammered. It almost always leads the way..
Yeah, some stops got done. Saw a big spike on oil but a bit too late.
They think they are smarter than I am.
  • #691,107
  • Sep 12, 2012 9:45am Sep 12, 2012 9:45am
Quoting attila
It doesn't really matter if it's the first test or not.. How it goes into it is important.. It needs to build a base of operation as close as possible to the break line. Here's how that worked..

Attachment
However, in this situation, because it was a little far away, probably a lot of traders were left on the side, so I expect a rebound..with a possible crawl back into the box.
  • #691,108
  • Sep 12, 2012 9:48am Sep 12, 2012 9:48am
Quoting Rag2RichesFX
OMFG...

Hope we do not see another Leap Year Massacre in the metals... this much volume is not good for a retracement..

Perhaps just a shakeout before tomorrow.

I was looking to get long at these levels but not on this much sell volume..
Do you play metals futures or against currencies? I wish my broker carried the metal pairs =/
  • #691,109
  • Sep 12, 2012 9:48am Sep 12, 2012 9:48am
Now we've got ourselves this.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 48 KB
  • #691,110
  • Sep 12, 2012 9:51am Sep 12, 2012 9:51am
Quoting attila
However, in this situation, because it was a little far away, probably a lot of traders were left on the side, so I expect a rebound..with a possible crawl back into the box.
Yup thats what seems to playing out so far. Nice one
Be hopeful in a winning position, and fearful in a losing position.
  • #691,111
  • Edited 10:06am Sep 12, 2012 9:53am | Edited 10:06am
Quoting pip_trader
Do you play metals futures or against currencies? I wish my broker carried the metal pairs =/
Against currencies. I can recommend a few broker for XAG and XAU if you want. My broker has 2cent silver spread its really quite nice. Also th ey have some of the deepest liquidity around. PA NEVER freezes or lags even during NFP and spreads don't really widen. This is an ECN broker and I all other non ECN brokers I use have some delay/lag to them. When silver hit $32.45 on my ECN price was still high $32s on a non ECN that I use, for at least 5-10 seconds delay compared to the ECN


They dropped it so hard and so fast, maybe it was just a stop hunt. Hit $32.45 already bounced up to $32.83. Now that I think about it that really should have been an automatic buy the dip scenario, if nothing else than for a scalp. Setup perfectly for it.

Just profit taking/reducing risk/better price levels for tomorrow is all I think it is.

Edit: added/changed
Be hopeful in a winning position, and fearful in a losing position.
  • #691,112
  • Sep 12, 2012 9:57am Sep 12, 2012 9:57am
has the shorter takes the rules of the game?
  • #691,113
  • Sep 12, 2012 9:57am Sep 12, 2012 9:57am
The sideways at the 23.6 made me take the small profit. Then look what happened a few mins later =(
Attached Image (click to enlarge)
Click to Enlarge Name: missedbigone.jpg Size: 120 KB
He who guess is LOST!
  • #691,114
  • Sep 12, 2012 9:59am Sep 12, 2012 9:59am
Quoting Z3iz3i
Yeah, some stops got done. Saw a big spike on oil but a bit too late.
I hope that's all it was. $32.44 containing the move for now. Also happens to coincide be the neckline on gold (1725)
Be hopeful in a winning position, and fearful in a losing position.
  • #691,115
  • Sep 12, 2012 10:03am Sep 12, 2012 10:03am
Quoting Rag2RichesFX
Against currencies. I can recommend a few broker for XAG and XAU if you want. My broker has 2cent silver spread its really quite nice. Also th ey have some of the deepest liquidity around. PA NEVER freezes or lags even during NFP and spreads don't really widen.


They dropped it so hard and so fast, maybe it was just a stop hunt. Hit $32.45 already bounced up to $32.83. Now that I think about it that really should have been an automatic buy the dip scenario, if nothing else than for a scalp. Setup perfectly for it.

I can't buy on this heavy...
Sure. What brokers do you recommend I check out?
  • #691,116
  • Sep 12, 2012 10:11am Sep 12, 2012 10:11am
Quoting pip_trader
Sure. What brokers do you recommend I check out?
pm'd you
Be hopeful in a winning position, and fearful in a losing position.
  • #691,117
  • Sep 12, 2012 10:12am Sep 12, 2012 10:12am
Quoting StopGuessing
The sideways at the 23.6 made me take the small profit. Then look what happened a few mins later =(
You booked a profit...that's all that matters.


Don't deviate from what your doing, as it seems to be working for you. - just my 2 cents.
  • #691,118
  • Sep 12, 2012 10:17am Sep 12, 2012 10:17am
i guess this would be the movement for eu.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 10 KB
  • #691,119
  • Sep 12, 2012 10:21am Sep 12, 2012 10:21am
Quoting attila
However, in this situation, because it was a little far away, probably a lot of traders were left on the side, so I expect a rebound..with a possible crawl back into the box.
By the book.. See? Nothing to fear if one asks the right questions.
  • #691,120
  • Sep 12, 2012 10:24am Sep 12, 2012 10:24am
Silver back to $33....

definitely a stop hunt so they could buy the dip.
Be hopeful in a winning position, and fearful in a losing position.
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