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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #63,741
  • Dec 19, 2012 1:28am Dec 19, 2012 1:28am
Quoting PipTrapper
Not quite yet... but very soon.
yeah, TECHNICALLY there's a possible turning point either at 1.3280, 1.3380 or 1.3480 take your pick ....all of them hold a 50% probability

i guess one should just forget fundamentals and trade daily technical analysis bounces. Cause rationality can be flushed down the toilet.
  • #63,742
  • Dec 19, 2012 1:37am Dec 19, 2012 1:37am
Quoting PipTrapper
Not quite yet... but very soon.
PT, how long are you going to be short biased on EU?
I think I'll wait till 1.40
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  • #63,743
  • Dec 19, 2012 2:09am Dec 19, 2012 2:09am
Quoting KillerWhale
PT, how long are you going to be short biased on EU?
I think I'll wait till 1.40
Agree..instead of anticipating a reversal and looking for short on every resistance, won't it be profitable to sail the long trend until it really starts giving reversal patterns..once reversal is confirmed by PA, candle closures, we could enter short on pull backs

just my 2 cents..

am currently long and enjoying the ride so far
  • #63,744
  • Dec 19, 2012 2:10am Dec 19, 2012 2:10am
I hope no one is caught against the trend here

Looks like after we pop 3284 there is room to retrace down about 100 pips before a continuation of the uptrend. However given the squeeze that is on, I won't count on it. If it happens I'll be loading a long there anyhow.
"Don't Panic..."
  • #63,745
  • Dec 19, 2012 2:35am Dec 19, 2012 2:35am
Quoting wingou
Here is my decision based on daily candles :
Short @1.3280 / SL 1.3294

If stopped Short @1.3375 / SL 1.34
Pending short triggered let's pray
  • #63,746
  • Dec 19, 2012 2:46am Dec 19, 2012 2:46am
Quoting wingou
Pending short triggered let's pray
Idiot, this is not the place to pray
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  • #63,747
  • Dec 19, 2012 2:53am Dec 19, 2012 2:53am
Quoting KillerWhale
Idiot, this is not the place to pray
No it's the high from 1st May 2012
  • #63,748
  • Dec 19, 2012 2:57am Dec 19, 2012 2:57am
Quoting wingou
Pending short triggered let's pray
didnt you just get a margin call? did you not learn?
Any prices quoted are futures
  • #63,749
  • Dec 19, 2012 2:59am Dec 19, 2012 2:59am
Quoting redteamgo
didnt you just get a margin call? did you not learn?
I did, SL now at BE..
  • #63,750
  • Dec 19, 2012 3:05am Dec 19, 2012 3:05am
Quoting lumesh
huh, thank god for better than expected euro data...now new buyers can get screwed.

Idiotic market participants will switch short to long now so the algos would have the liquidity to the downside.

oeh, aint market a biaaach
screwed? the prudent buyer waited for the retest of 3230 and didnt just jump in earlier. there is no shame in going with the trend as long as you do it with care.
Any prices quoted are futures
  • #63,751
  • Dec 19, 2012 3:06am Dec 19, 2012 3:06am
Quoting KillerWhale
PT, how long are you going to be short biased on EU?
I think I'll wait till 1.40
Quoting vishalshan
Agree..instead of anticipating a reversal and looking for short on every resistance, won't it be profitable to sail the long trend until it really starts giving reversal patterns..once reversal is confirmed by PA, candle closures, we could enter short on pull backs

just my 2 cents..

am currently long and enjoying the ride so far
I am in fact long the Euro right now and also enjoying the ride... see below

Quoting PipTrapper
My break even point was fast approaching at 1.3270 so I closed my eyes and hit the buy button at 1.3198 with a massive position. Why? Because when you get a powerful breakout like that in the last 2 weeks of December... especially when the majority of retail traders are short, then undoubtedly there is going to be a massive short squeeze. I learned that lesson many years ago. I saw this coming but my short Euro bias put me in denial of the danger. Now the last 5 months of my time are in the garbage but luckily (actually via proper MM, not luck) I have come out of it unscathed... for now.

This long trade is strictly a technical one. My target is 1.34xx, but then one never knows. That's why I set my SL at BE. Now I am looking forward to taking profit on this long position and shorting the top... when it arrives.

Caveat: I love these caveats. I want to make sure that anyone reading my post fully understands that I am still a USD bull and a Euro Bear. I don't have much faith in my long E/U position at 1.3198 and that is why it is locked at BE. This sucker may have already reached a top. Macro-economic fundamentals do not support this move... not even in one's wildest imaginations.
Those who say it cannot be done should not interrupt those who are doing it
  • #63,752
  • Dec 19, 2012 3:08am Dec 19, 2012 3:08am
Quoting redteamgo
screwed? the prudent buyer waited for the retest of 3230 and didnt just jump in earlier. there is no shame in going with the trend as long as you do it with care.
I guess I'm not that prudent then coz I jumped in before the pop at 1.3198
Those who say it cannot be done should not interrupt those who are doing it
  • #63,753
  • Dec 19, 2012 3:12am Dec 19, 2012 3:12am
Quoting PipTrapper
I guess I'm not that prudent then coz I jumped in before the pop at 1.3198
PT... you're testing me, you know i'm referencing the latest move today
Any prices quoted are futures
  • #63,754
  • Dec 19, 2012 3:13am Dec 19, 2012 3:13am
Quoting PipTrapper
I am in fact long the Euro right now and also enjoying the ride... see below
Double hooray for you.
Sorry I missed your post about going long.

PT: Congrats
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  • #63,755
  • Dec 19, 2012 3:16am Dec 19, 2012 3:16am
Quoting KillerWhale
Double hooray for you.
Sorry I missed your post about going long.

PT: Congrats
But I must say, I don't understand this crazyness about the Euro.
It's a shit currency
New voice message: Why are you calling me? If I need you, I'll call you!
  • #63,756
  • Dec 19, 2012 3:17am Dec 19, 2012 3:17am
Quoting PipTrapper
I am in fact long the Euro right now and also enjoying the ride... see below
my bad..didn't see ur detailed post before

Green pips to all
  • #63,757
  • Dec 19, 2012 3:25am Dec 19, 2012 3:25am
Quoting KillerWhale
But I must say, I don't understand this crazyness about the Euro.
It's a shit currency
I don't think anybody understands it, but it is what it is. Markets are irrational, all correlations are broken and the world is upside down.
At the end of the day, one can still make money from it by trading against logic. It's hard to jump on a train that is heading towards a collapsed bridge, but as long as one jumps off before it gets there, then that works just fine.

I can't believe I'm actually saying that coz it goes against my trading style. ;rofl:
Those who say it cannot be done should not interrupt those who are doing it
  • #63,758
  • Dec 19, 2012 3:44am Dec 19, 2012 3:44am
Quoting PipTrapper
I don't think anybody understands it, but it is what it is. Markets are irrational, all correlations are broken and the world is upside down.
At the end of the day, one can still make money from it by trading against logic. It's hard to jump on a train that is heading towards a collapsed bridge, but as long as one jumps off before it gets there, then that works just fine.

I can't believe I'm actually saying that coz it goes against my trading style. ;rofl:
As a bull i cant jump now either. I ust think how hard was for pt to push the buy button with almost 2 years just pressing sell
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #63,759
  • Dec 19, 2012 3:46am Dec 19, 2012 3:46am
Quoting PipTrapper
I don't think anybody understands it, but it is what it is. Markets are irrational, all correlations are broken and the world is upside down.
At the end of the day, one can still make money from it by trading against logic. It's hard to jump on a train that is heading towards a collapsed bridge, but as long as one jumps off before it gets there, then that works just fine.

I can't believe I'm actually saying that coz it goes against my trading style. ;rofl:
Your Hedge is a good way to stay in the game till "reason" again prevails, if there is such a thing in Forex.

I´m adding to my short every 100 pips, bringing my average entry price higher. An advantage of leaving yourself plenty of room in your account in case you are temporarily wrong.

I feel the turn is near. Here is an article that is worth reading:

http://www.marketwatch.com/story/bet..._story_popular
Observation is the path to discovery.
  • #63,760
  • Dec 19, 2012 3:51am Dec 19, 2012 3:51am
Quoting Alorente
Your Hedge is a good way to stay in the game till "reason" again prevails, if there is such a thing in Forex.

I´m adding to my short every 100 pips, bringing my average entry price higher. An advantage of leaving yourself plenty of room in your account in case you are temporarily wrong.

I feel the turn is near. Here is an article that is worth reading:

http://www.marketwatch.com/story/bet..._story_popular
consider to add double shorts the next 100 pips )))
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