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  • #709,621
  • Oct 18, 2012 8:16pm Oct 18, 2012 8:16pm
Quoting attila
one of my shorts has the same tp as yours.
Cool. It's 50 pips down. I might move sl up to 3095 or something and open a sell limit at 87.
There is nothing in the Universe but mathematical points of force.
  • #709,622
  • Oct 18, 2012 8:20pm Oct 18, 2012 8:20pm
Quoting kiranitoot
Cool. It's 50 pips down. I might move sl up to 3095 or something and open a sell limit at 87.
stupid thing can also turn. 3070 is not resolved.
  • #709,623
  • Oct 18, 2012 8:21pm Oct 18, 2012 8:21pm
Quoting 666Doom
its going down to 3065..
u will seee...
i wasn't desperate,it took time though but it got there,where i wanted,i believe it may go up from here...
That was 2 days ago i said that,it had to do what it had to do what it had to do.....
it can start another leg up now maybe.. lets see..
  • #709,624
  • Oct 18, 2012 8:23pm Oct 18, 2012 8:23pm
I feel like it's going to be another sideways for a few days.
  • #709,625
  • Oct 18, 2012 8:24pm Oct 18, 2012 8:24pm
Hey guys been a long time lurker and decided to start posting. I'm young and stupid, well less stupid than when I started trading about 2 yrs ago haha. Starting to take things a little more serious now.

Long eu 3072

TP:3092
SL:3049
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #709,626
  • Oct 18, 2012 8:24pm Oct 18, 2012 8:24pm
Quoting attila
stupid thing can also turn. 3070 is not resolved.
True. That's why I had a 10 pip sl but let's see how it goes. I have it down on daily and H4 while up on hourly.
If hourly closes below 55, then we'll be going down. Up on the other hand is 30-40 pips away to break..
There is nothing in the Universe but mathematical points of force.
  • #709,627
  • Oct 18, 2012 8:29pm Oct 18, 2012 8:29pm
here's the problem... it's stuck between these two lines.. the one above is 73. 70 shows on the higher TF..

Attached Image
  • #709,628
  • Edited 8:36pm Oct 18, 2012 8:33pm | Edited 8:36pm
And here's a daily view that I just drew up. 1.3287 is an area I'll keep an eye on, if and when price gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: dailyview.jpg Size: 99 KB
Time turns trend. - W.D. Gann
  • #709,629
  • Oct 18, 2012 8:33pm Oct 18, 2012 8:33pm
I made a projection about a double top forming 2 days ago when the bulls where numberous. I used technical analysis to make that call.

One thing that a lot of technical traders forget is the power of fundamentals. To support my claim I looked at the fundamental factors that could effect price this week (this month for that matter).

1) Spanish Bailout/EU Summit - Since the summit would have major effects on price if some spectacular occurrence were to happen I focused on the issues of the day for the EU, since they are major drivers of risk trends. The main issue discussed was a possible extension of loans to the spanish people. Since Rajoy had already ruled out making a decision for at least a "few weeks" it was clear Merkel would say something to the effect of "Spain and the ESM will still have to work out the terms of the loan"...yadda, yadda, yadda...which is what actually happened.

Diagnosis - risk aversion

2) Chinese GDP - China being another major playing in global risk trends was the focus of my decision. Since it has been known for some time that China's economy, although growing, has been growing slower and slower supporting expectations of a moderate GDP growth or at least growth as expected by the market.

Diagnosis - risk aversion

3) Current price movements - Although risk had been heating up the past few days, price alone did not break nor even come close to the recent high made a few weeks ago. Nothing to back it up so movement was mere speculation and hope (The Bulls).

Diagnosis - risk aversion

4) The Unexpected - Clearly no one saw the Google earnings report coming unless you truly can see the future or you are an incredibly connected inside trader. Google says somebody jumped the gun.... Looking for a major screw up in timing....Google it! (pun intended)

Diagnosis -risk aversion

All my ducks in a row, and 1 gander to boot...made the call and the extra point is good!
  • #709,630
  • Oct 18, 2012 8:35pm Oct 18, 2012 8:35pm
Quoting ForExtraPips
1.2991 anyone?
me....
I have similar target for short...
Patience, Emotion Control and Discipline.
  • #709,631
  • Oct 18, 2012 8:36pm Oct 18, 2012 8:36pm
Quoting ForExtraPips
And here's a daily view that I just drew up. 1.3287 is an area I'll keep an eye on, if and when price gets there.
I see a young double top over there and possibly a HnS also.
There is nothing in the Universe but mathematical points of force.
  • #709,632
  • Oct 18, 2012 8:36pm Oct 18, 2012 8:36pm
Everyone on FF must trade huge lots for quick pips....wow wish I were you guys! I can only play for intraday plays.

Maybe when my accounts grow up they can be like you guys!
  • #709,633
  • Oct 18, 2012 8:37pm Oct 18, 2012 8:37pm
Quoting johncen
me....
I have similar target for short...
Time turns trend. - W.D. Gann
  • #709,634
  • Oct 18, 2012 8:38pm Oct 18, 2012 8:38pm
Quoting kiranitoot
I see a young double top over there and possibly a HnS also.
Good eye.
Time turns trend. - W.D. Gann
  • #709,635
  • Oct 18, 2012 8:43pm Oct 18, 2012 8:43pm
Quoting d4amenace
I made a projection about a double top forming 2 days ago when the bulls where numberous. I used technical analysis to make that call.

One thing that a lot of technical traders forget is the power of fundamentals. To support my claim I looked at the fundamental factors that could effect price this week (this month for that matter).

1) Spanish Bailout/EU Summit - Since the summit would have major effects on price if some spectacular occurrence were to happen I focused on the issues of the day for the EU, since they are major drivers of risk...
Just a little FYI here. If a trader draws a properly drawn chart, (yes, define "properly" drawn), then the chart will tell them when and where something will happen. So, after they see a potential reversal point, with a properly drawn chart, then they can glance over at the calendar and say, "Oh, such and such is being released at this precise time, while everybody else is hammering it out, on if the data says this, price will do that, blah, blah, blah. The trader with the properly drawn chart will already know when and where price will go. Just something to keep in mind. But, by all means, if fundies alone is making you pips, the more power to you.
Time turns trend. - W.D. Gann
  • #709,636
  • Oct 18, 2012 8:44pm Oct 18, 2012 8:44pm
Quoting ForExtraPips
Good eye.
One more. I also think it's a duplicate. See the middle W and the little one at the end.
Possible scenario isn't it?
There is nothing in the Universe but mathematical points of force.
  • #709,637
  • Oct 18, 2012 8:45pm Oct 18, 2012 8:45pm
Quoting ForExtraPips
Just a little FYI here. If a trader draws a properly drawn chart, (yes, define "properly" drawn), then the chart will tell them when and where something will happen. So, after they see a potential reversal point, with a properly drawn chart, then they can glance over at the calendar and say, "Oh, such and such is being released at this precise time, while everybody else is hammering it out, on if the data says this, price will do that, blah, blah, blah. The trader with the properly drawn price will already know when and where price will go....

Nope, primarily a tech trader...big chart guy. Just wanted to point out how important it is to keep fundamentals in mind as part of any good technical setup.....being game-changers and what not.
  • #709,638
  • Oct 18, 2012 8:45pm Oct 18, 2012 8:45pm
Quoting kiranitoot
One more. I also think it's a duplicate. See the middle W and the little one at the end.
Possible scenario isn't it?
Yes. Keyword. "Possible."
Time turns trend. - W.D. Gann
  • #709,639
  • Oct 18, 2012 8:46pm Oct 18, 2012 8:46pm
Quoting d4amenace
Nope, primarily a tech trader...big chart guy. Just wanted to point out how important it is to keep fundamentals in mind as part of any good technical setup.....being game-changers and what not.
I'll have to admit, though, if I was trading based on sentiment alone, in the month of May, I would have made a killing.
Time turns trend. - W.D. Gann
  • #709,640
  • Oct 18, 2012 8:51pm Oct 18, 2012 8:51pm
Quoting ForExtraPips
Yes. Keyword. "Possible."
Used your picture here. It's also possible to go somewhere around 3150-70.. XD
Attached Image (click to enlarge)
Click to Enlarge Name: attachment.jpg Size: 277 KB
There is nothing in the Universe but mathematical points of force.
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