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  • #735,421
  • Dec 19, 2012 12:26am Dec 19, 2012 12:26am
Quoting MaxDoom
as do many on here...

but like you say there is no sign of it yet

look at the PA on the hourly since 7th December all you have is lift - consolidate - repeat

no retraces yet

so whilst, it could retrace from here, you are shorting against a strong upward move when there are no signs worthy of of short, not sure how that risk adds up v probability of outcome
Not great Max I know. I was hoping to see a much stronger retrace, didn't happen. Again. I put my SL 30 pips above but to be honest between here and 1.3275 I see no levels which could bother the move to the upside. However, I have the "stupid" idea of taking profits for the lucky ones who started building their longs from 1.2700s and if there will be some profit taking, it won't be in the last hours of friday. Obviously I can't long here, it is a little late for that so my only option was to short it even tough I am not very comfortable with it.
  • #735,422
  • Dec 19, 2012 12:28am Dec 19, 2012 12:28am
Quoting gatorinla
kev.. if u lurk
kenf 3216.8 is the target. the mid is rarely missed
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those who can, do. those who cant, talk about those who can
  • #735,423
  • Dec 19, 2012 12:30am Dec 19, 2012 12:30am
Quoting math_GB
Not great Max I know. I was hoping to see a much stronger retrace, didn't happen. Again. I put my SL 30 pips above but to be honest between here and 1.3275 I see no levels which could bother the move to the upside. However, I have the "stupid" idea of taking profits for the lucky ones who started building their longs from 1.2700s and if there will be some profit taking, it won't be in the last hours of friday. Obviously I can't long here, it is a little late for that so my only option was to short it even tough I am not very comfortable...

you don't have to be in a trade... better to have 1 trade a day of high probability than many average/low probability trades.

still now that you are in don't give it much slack

looks like it is going to test the last consolidation level now stretches down to 3220
  • #735,424
  • Dec 19, 2012 12:31am Dec 19, 2012 12:31am
Quoting MaxDoom
as do many on here...

but like you say there is no sign of it yet

look at the PA on the hourly since 7th December all you have is lift - consolidate - repeat over 300 pips worth

no retraces yet

so whilst, it could retrace from here, you are shorting against a strong upward move when there are no signs worthy of a short, not sure how that risk adds up v probability of outcome
Yet GBPUSD is close to a recent nice high 1.6310,
also people long EURUSD will have to start thinking abt consolidating their trades before christmas.... either they take profit, or they hedge their position, in both situation they must sell something.
  • #735,425
  • Dec 19, 2012 12:32am Dec 19, 2012 12:32am
Quoting yelena
it couldn't reach R1 when it had all of asia.... so the retracement may have already begun.

but knowing franky(!!!!) it is possible to snip R1 first then drop it. whatever downward action will be, it's just a retracement.
*nods
i am relying 3220 to hold
  • #735,426
  • Dec 19, 2012 12:32am Dec 19, 2012 12:32am
Quoting MaxDoom
you don't have to be in a trade... better to have 1 trade a day of high probability than many average/low probability trades.

still now that you are in don't give it much slack

looks like it is going to test the last consolidation level now down to 3220
I won't mate, I do appreciate you taking care of us-newbess early in the mornings. I wished you could do that all day but you have other jobs to do Robbing your brokers...!
  • #735,427
  • Dec 19, 2012 12:33am Dec 19, 2012 12:33am
Quoting Daytrader74
I'm in profit on my long now

Not anymore.....
The great majority are rarely capable of thinking independently.
  • #735,428
  • Dec 19, 2012 12:34am Dec 19, 2012 12:34am
Quoting math_GB
I won't mate, I do appreciate you taking care of us-newbess early in the mornings. I wished you could do that all day but you have other jobs to do Robbing your brokers...!

Ah, you made it in this morning then.
The great majority are rarely capable of thinking independently.
  • #735,429
  • Dec 19, 2012 12:35am Dec 19, 2012 12:35am
Quoting fxnav
Ah, you made it in this morning then.
Yes mate my average cost is @1.3235. I don't suggest this pos to anyone however, it is not comforting... yet...
  • #735,430
  • Dec 19, 2012 12:36am Dec 19, 2012 12:36am
Quoting MaxDoom
you don't have to be in a trade... better to have 1 trade a day of high probability than many average/low probability trades.

still now that you are in don't give it much slack

looks like it is going to test the last consolidation level now stretches down to 3220
Pearls. Pearls. Trouble is gambling is exciting and waiting is boring.
Gone to a better place
  • #735,431
  • Dec 19, 2012 12:36am Dec 19, 2012 12:36am
GBPUSD is on its own...
even EURUSD retracing a few pips....
  • #735,432
  • Dec 19, 2012 12:38am Dec 19, 2012 12:38am
Quoting divak
GBPUSD is on its own...
even EURUSD retracing a few pips....
what to do some one taking profit/selling EG
Mohan
  • #735,433
  • Dec 19, 2012 12:40am Dec 19, 2012 12:40am
Quoting divak
GBPUSD is on its own...
even EURUSD retracing a few pips....
Cable might break the year high! The Euro has just broken more recent highs and might drop to retest them.
Gone to a better place
  • #735,434
  • Dec 19, 2012 12:41am Dec 19, 2012 12:41am
Quoting mohan76
what to do some one taking profit/selling EG
some people rebalancing between GBPUSD and AUDUSD
  • #735,435
  • Dec 19, 2012 12:41am Dec 19, 2012 12:41am
Quoting gatorinla
kenf 3216.8 is the target. the mid is rarely missed
Gator do you have an indicator which produces those levels or do you do them yourself?
  • #735,436
  • Dec 19, 2012 12:43am Dec 19, 2012 12:43am
Quoting smikester
Cable might break the year high! The Euro has just broken more recent highs and might drop to retest them.
why not! i wouldnt be surprised considering the steroids-based behaviour of the past days. I'll wait for the drugs to stop their effect then

EDIT : GBPUSD wants R1 daily. So its as stubborn as a 5y old kid, it will go.
  • #735,437
  • Dec 19, 2012 12:43am Dec 19, 2012 12:43am
Quoting Jah
Gator do you have an indicator which produces those levels or do you do them yourself?
he do it manually
Mohan
  • #735,438
  • Dec 19, 2012 12:45am Dec 19, 2012 12:45am
i hope we get a disappointing IFO number... would be logical as many economists think germany will go back in recession in 2013
  • #735,439
  • Dec 19, 2012 12:46am Dec 19, 2012 12:46am
Quoting divak
Yet GBPUSD is close to a recent nice high 1.6310,
also people long EURUSD will have to start thinking abt consolidating their trades before Christmas.... either they take profit, or they hedge their position, in both situation they must sell something.
Yes some people will cover their positions for the break but there is no way I can tell who or how many or when so I can only wait for real signs in the prices to guide me.

Yes GU is approaching tough resistance, but if you scale out on the larger time frame it is correcting and I have a target up in the sky @ 1.777x so if that high point gives I would be looking for long opportunities, but that again depends on your trading style and TF

everybody must trade their own way, I am merely pointing some things out and for every buyer there has to be a seller
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  • #735,440
  • Dec 19, 2012 12:47am Dec 19, 2012 12:47am
Quoting mohan76
he do it manually
no shortcuts eh ;p
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