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  • #747,281
  • Jan 17, 2013 5:56am Jan 17, 2013 5:56am
Quoting mm2mm
Double Top forming on 4h?
Hard to say without context to Daily, Weekly.
It could be a mini cup/handle. Need a big reversal candle for this to be confirmed.
A pip is only worth it if you know how much you risked to earn it
  • #747,282
  • Jan 17, 2013 5:57am Jan 17, 2013 5:57am
Just wondering what made you short? ie. What made you decide to pull the trigger, if you have worries about 100 pip move opposite you?
Are you risking alot or a tiny amount only?

Quoting sunilpawar
shorted at 1.3365 s/l over 1.3395

expecting to drop technically...

fundamentally luking strong..

god forbit rises 100 pips more and hits 1.3500 like last thursday move

it will be funny then....

t p over todays low....

i know i am gambling

lets see if it breaks mondays high


EXPERT COMMENTS WELCOME
A pip is only worth it if you know how much you risked to earn it
  • #747,283
  • Jan 17, 2013 5:59am Jan 17, 2013 5:59am
As NY opens expecting Retrace.
I'm short 3363 TP: 3335 SL: 3395
When Scalpers win, I lose and Vice varsa...
  • #747,284
  • Jan 17, 2013 5:59am Jan 17, 2013 5:59am
Quoting sunilpawar
shorted at 1.3365 s/l over 1.3395

expecting to drop technically...

fundamentally luking strong..

god forbit rises 100 pips more and hits 1.3500 like last thursday move

it will be funny then....

t p over todays low....

i know i am gambling

lets see if it breaks mondays high


EXPERT COMMENTS WELCOME
well price action is really on the bull side now, but I am also hoping will go down to erase my current -50pips lol!
Maximizing your potentials!
  • #747,285
  • Jan 17, 2013 6:00am Jan 17, 2013 6:00am
Quoting sunilpawar
shorted at 1.3365 s/l over 1.3395

expecting to drop technically...

fundamentally luking strong..

god forbit rises 100 pips more and hits 1.3500 like last thursday move

it will be funny then....

t p over todays low....

i know i am gambling

lets see if it breaks mondays high


EXPERT COMMENTS WELCOME
Keep it simples ...

Divergences in 5 min and 10 min chart grafics (prices against standard MACD signal for example) are made of giving us early warning of "imminent declines" are in the making machine ...






;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #747,286
  • Jan 17, 2013 6:02am Jan 17, 2013 6:02am
short 1.3370 sl 1.3422 tp1 1.33 tp2 1.3222 tp3 1.3175

  • #747,287
  • Jan 17, 2013 6:05am Jan 17, 2013 6:05am
everyone's having fun? ^^

i got busy and was left out, and been staying aside. enjoy your pips, guys.
  • #747,288
  • Jan 17, 2013 6:06am Jan 17, 2013 6:06am
Quoting brio
well price action is really on the bull side now, but I am also hoping will go down to erase my current -50pips lol!
-50 pips is a lot for an intraday trade

in pips what is your SL & TP from entry price?

50 pips is greater than the noise factor on intraday TFs think about it what does that tell you if you are trading intraday?
  • #747,289
  • Jan 17, 2013 6:11am Jan 17, 2013 6:11am
Took a long in USD/CHF as well. I hope they pay me good this time.
Eur/usd short target extended to 3295
When Scalpers win, I lose and Vice varsa...
  • #747,290
  • Jan 17, 2013 6:11am Jan 17, 2013 6:11am
Quoting MaxDoom
-50 pips is a lot for an intraday trade

in pips what is your SL & TP from entry price?

50 pips is greater than the noise factor on intraday TFs think about it what does that tell you if you are trading intraday?
Max 20 pips per trade for intraday to me.
  • #747,291
  • Jan 17, 2013 6:15am Jan 17, 2013 6:15am
Fight is now between opening xx80 gates or dropping below xx50 and opening bear gates.
  • #747,292
  • Jan 17, 2013 6:16am Jan 17, 2013 6:16am
Long range Daily.
This is what is giving me the 407 I want so badly.

The fib is drawn from the first swing hi move after bear confirmation (roughly 4200).
When I first drew it 38.2% was 407. It changes because of the chart size, but it's the area I'm looking at.

Price above 200 and 144EMA says she's bull/up.
Not an EW expert... but I think we're in the 5th wave up.... could be wrong on this count. Anyways, that's the view I had to reconcile with the retrace that started on Monday.
Attached Image
A pip is only worth it if you know how much you risked to earn it
  • #747,293
  • Jan 17, 2013 6:16am Jan 17, 2013 6:16am
Quoting MaxDoom
-50 pips is a lot for an intraday trade

in pips what is your SL & TP from entry price?

50 pips is greater than the noise factor on intraday TFs think about it what does that tell you if you are trading intraday?
MaxDoom, I was too confident of myself that the price would turn soon so I left my SL open. What I later saw was a big loss. The trade is still open as I am hoping it will down soon. Normal day it is 20 pips SL an 30-40 Pips TP. your advice lol!
Maximizing your potentials!
  • #747,294
  • Jan 17, 2013 6:21am Jan 17, 2013 6:21am
Quoting brio
MaxDoom, I was too confident of myself that the price would turn soon so I left my SL open. What I later saw was a big loss. The trade is still open as I am hoping it will down soon. Normal day it is 20 pips SL an 30-40 Pips TP. your advice lol!
Brio, having blown many accounts in my previous efforts I would say this: cut your losses early.
Your risk, besides your -50 now. is 50/50. Can you afford to be right/wrong if you don't clear it out now? If you can, then leave it open. If you are right, then you're lucky. But what if you're wrong? Can you afford -100? If you can't afford it now or ever, cut your loss.

Any other option will be a form of revenge trading which is just as dangerous.
A pip is only worth it if you know how much you risked to earn it
  • #747,295
  • Jan 17, 2013 6:22am Jan 17, 2013 6:22am
Eur/Usd H1 Chart

We can see "Shape of M"

http://i48.tinypic.com/2l8clmd.gif
  • #747,296
  • Jan 17, 2013 6:22am Jan 17, 2013 6:22am
Clear parts of my longs at 1.3375....remaining for 1.3387 and 1.3410-15 then the sky's coming
  • #747,297
  • Jan 17, 2013 6:23am Jan 17, 2013 6:23am
Quoting brio
MaxDoom, I was too confident of myself that the price would turn soon so I left my SL open. What I later saw was a big loss. The trade is still open as I am hoping it will down soon. Normal day it is 20 pips SL an 30-40 Pips TP. your advice lol!
I would suggest that your SL accounts for noise but no more, if noise level is deemed to be say 20 pips then having a 23 pip SL should be the max, otherwise it is telling you that the move is not noise but more likely a directional move and your pain will only get worse 9 out of 10 times.

Identifying noise is the tricky part, but for EU if I want to leave a trade on a trailing and not get stopped by noise I would look at between 15 & 20 pips SL + step 5 no more for intraday unless the SL is in +ve
  • #747,298
  • Jan 17, 2013 6:26am Jan 17, 2013 6:26am
Quoting MaxDoom
not what I would do.

I would consider a break below of the index supportive of further EU EJ upside or a break above the consolidation the opposite.

but currently it appears to be testing the support far more than the upside...
Ok, i always prefer breaks. It can go further than expected.
  • #747,299
  • Jan 17, 2013 6:28am Jan 17, 2013 6:28am
Quoting vlady1974
Long range Daily.
This is what is giving me the 407 I want so badly.

The fib is drawn from the first swing hi move after bear confirmation (roughly 4200).
When I first drew it 38.2% was 407. It changes because of the chart size, but it's the area I'm looking at.

Price above 200 and 144EMA says she's bull/up.
Not an EW expert... but I think we're in the 5th wave up.... could be wrong on this count. Anyways, that's the view I had to reconcile with the retrace that started on Monday.

If Fib drawn on Daily from that swing high you mentioned, down to Julys lows, 1.3407 is 61.8% retracement... Definitely level to watch.

Need one more decent push and we'll be there.
  • #747,300
  • Jan 17, 2013 6:28am Jan 17, 2013 6:28am
Quoting davidsayli
Eur/Usd H1 Chart

We can see "Shape of M"

http://i48.tinypic.com/2l8clmd.gif
Or it could be this.

[edit]
It's forming some pin bars, I'll give you that. But I'll wait for more confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.PNG Size: 61 KB
A pip is only worth it if you know how much you risked to earn it
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