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  • #692,001
  • Sep 13, 2012 10:29pm Sep 13, 2012 10:29pm
Quoting divak
thanks for this post.
i agree with lots of what u said but what bothers me is that during the recent rally we havent seen much retrace/rebound on resistances...
U can take a look again if you want, there is no serious retrace, nothing more than 50pips...
so i still believe this is pumped, as in many cases Resistances were instantly converted into supports....

EDIT: i would a retrace to 1.2960 as logical if willing to go higher, but i can bet here that i wont happen.
look at the graph now, people just have converted the 1.3007 R into...
just take jan low 1.26 into 1.33, is there any strong retracement? No?

identify the market patterns-> is it momentum trading - > bear run in may, bull run in jan-feb, bull run again in after mid august. maybe u should read up more on market patterns/cycles. so u can zoom out and follows it.

don't think about retracement while trading, retracement is still fight against the trend.

a bull breakout, u add on retrace buy, a bear breakout, u add on retrace sell. u don't think its high u try to sell down, and don't think its low, u try to buy up, this kind of mentality is tiring, u try buying in may how it feel?if it keep dropping from 1.24 into 1.20.

follow live movements.
  • #692,002
  • Sep 13, 2012 10:30pm Sep 13, 2012 10:30pm
divak,

tell me the truth 3150 your s/l or TP
Mohan
  • #692,003
  • Sep 13, 2012 10:31pm Sep 13, 2012 10:31pm
nachiket, it is easier to talk about winning trades and less depressing lol.mike8 has def got his head together regarding trading like a lot of the people here do thats why we talk and share
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #692,004
  • Sep 13, 2012 10:31pm Sep 13, 2012 10:31pm
Glad I bought this on initial breakout on the 7&9, up 225pips at the moment and counting.
All posts are my personal opinion
  • #692,005
  • Sep 13, 2012 10:33pm Sep 13, 2012 10:33pm
Quoting mohan76
divak,

tell me the truth 3150 your s/l or TP
??
i dont get what u mean. I'm short...
  • #692,006
  • Sep 13, 2012 10:37pm Sep 13, 2012 10:37pm
Quoting divak
sorry yes, i was wrong. It's at 78.9 and we are 400 pips up on 6 trading days. It should go higher.
Thanks for correcting me
No problem. Just that I am enlightened to know that RSI readings can show price movement too....
Fall seven times, stand up Eight! #GGMU
  • #692,007
  • Sep 13, 2012 10:38pm Sep 13, 2012 10:38pm
Quoting vickym
No problem. Just that I am enlightened to know that RSI readings can show price movement too....
never said it shows price movement. Its a result of them.
as for all indicators, they tell you about the past, not the future
  • #692,008
  • Sep 13, 2012 10:39pm Sep 13, 2012 10:39pm
Quoting divak
never said it shows price movement. Its a result of them.
as for all indicators, they tell you about the past, not the future
Yep. They lag.
Time turns trend. - W.D. Gann
  • #692,009
  • Sep 13, 2012 10:41pm Sep 13, 2012 10:41pm
Quoting mohan76
thanks guys , so officially 1.30 shown weakness , it will be taken out today or tommorow

once again i m confused with nyse closing time

1.30 Taken out it should do small pull back here , don't forget Europeans missed QE party last night as it was announced after European market closed,

We are now officially above Daily Bull trend from 2010 June 1.3065/80 good place for short
Attached Image (click to enlarge)
Click to Enlarge Name: euro chart.jpg Size: 135 KB
Mohan
  • #692,010
  • Sep 13, 2012 10:43pm Sep 13, 2012 10:43pm
Quoting divak
??
i dont get what u mean. I'm short...
i am asking your really holding shors or long , last time you said moving s/l from 2750 , 31xx, which is pretty much good target for long term trade
Mohan
  • #692,011
  • Sep 13, 2012 10:46pm Sep 13, 2012 10:46pm
Quoting mohan76
i am asking your really holding shors or long , last time you said moving s/l from 2750 , 31xx, which is pretty much good target for long term trade
i have "extended" account, so i have been adding, though its not much as part of my total risk...
I have been neutralizing some positions going up, not cutting...
  • #692,012
  • Sep 13, 2012 10:47pm Sep 13, 2012 10:47pm
Quoting mohan76
1.30 Taken out it should do small pull back here , don't forget Europeans missed QE party last night as it was announced after European market closed,

We are now officially above Daily Bull trend from 2010 June 1.3065/80 good place for short
I agree. How far do you think the pullback will be? Or roughly.
Attached Image (click to enlarge)
Click to Enlarge Name: montlyeu.jpg Size: 74 KB
Time turns trend. - W.D. Gann
  • #692,013
  • Sep 13, 2012 10:47pm Sep 13, 2012 10:47pm
Quoting 5percent
just take jan low 1.26 into 1.33, is there any strong retracement? No?

identify the market patterns-> is it momentum trading - > bear run in may, bull run in jan-feb, bull run again in after mid august. maybe u should read up more on market patterns/cycles. so u can zoom out and follows it.

don't think about retracement while trading, retracement is still fight against the trend.

a bull breakout, u add on retrace buy, a bear breakout, u add on retrace sell. u don't think its high u try to sell down, and don't think its low, u try to buy...
thanks for ur advice
  • #692,014
  • Sep 13, 2012 10:48pm Sep 13, 2012 10:48pm
i havent traded all week due to not being home but i managed to get blackberry up and running. i might have a pop on13000 short and see what happens. i cannot use this pc asa it isnt mine nor safe
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #692,015
  • Sep 13, 2012 10:50pm Sep 13, 2012 10:50pm
Quoting ForExtraPips
I agree. How far do you think the pullback will be? Or roughly.
pull back should be limited to 2980/70 to travel further , if 20 taken out it might limited to 1.3000
Mohan
  • #692,016
  • Sep 13, 2012 10:51pm Sep 13, 2012 10:51pm
Quoting mohan76
pull back should be limited to 2980/70 to travel further , if 20 taken out it might limited to 1.3000
Thanks. Looking to buy the next dip.
Time turns trend. - W.D. Gann
  • #692,017
  • Sep 13, 2012 10:52pm Sep 13, 2012 10:52pm
Quoting divak
i have "extended" account, so i have been adding, though its not much as part of my total risk...
I have been neutralizing some positions going up, not cutting...
Is that to say your hedging?
  • #692,018
  • Sep 13, 2012 10:54pm Sep 13, 2012 10:54pm
20 and taken and cable to took resistant & stop

edit Looks attempt get better 4h close
Mohan
  • #692,019
  • Sep 13, 2012 10:59pm Sep 13, 2012 10:59pm
Is it just me or has the last week or two not traded normally? Completely throwing me off for my trading strategy. Need to find another strategy for this kind of market. Finding a hard time for entry points when there isn't much if any pull back. Or maybe I should just follow the damn trend! lol
  • #692,020
  • Sep 13, 2012 11:02pm Sep 13, 2012 11:02pm
Quoting GumballCGT
Is it just me or has the last week or two not traded normally? Completely throwing me off for my trading strategy. Need to find another strategy for this kind of market. Finding a hard time for entry points when there isn't much if any pull back. Or maybe I should just follow the damn trend! lol


ikep it simple buddy, you/ll get there, take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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