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  • #753,741
  • Feb 4, 2013 6:32am Feb 4, 2013 6:32am
this is just sad monday...got stoped at 55
Those who know don't talk. Those who talk don't know.
  • #753,742
  • Feb 4, 2013 6:32am Feb 4, 2013 6:32am
Quoting 1candlepower
yep. 3557 was extended line of scrimmage from latter part of last wednesday. chance of rejection looks good


ok. i'm out. (startin to look like wave 4... though what it's doing there, )
  • #753,743
  • Feb 4, 2013 6:33am Feb 4, 2013 6:33am
going long only if it breaks 3573 first
  • #753,744
  • Feb 4, 2013 6:35am Feb 4, 2013 6:35am
Quoting gatorinla
if not for the boj.. i would be out on a limb saying we are at the top of a new/(old resuming) down trend here. not just a pullback.. with a sub 1876 target. but with boj.. i cant.. it has to develop in the other ways..
3575/76 may be a R with indicated direction above/below at 5est close.. so far the other 2 say bearish.. 3636 41 49 may happen still.. the close after is more indicative.
those who can, do. those who cant, talk about those who can
  • #753,745
  • Feb 4, 2013 6:35am Feb 4, 2013 6:35am
Quoting 4exNinja
Low of the week by tomorrow...as happens so often for EURUSD. Staying on the sidelines for now. If the NYC session nudges things back up I might hop on for a quick long towards 1.3580-1.3612...else I'll hold off until some real market moving news comes out.
"As the technical analyst was explaining to the chairman the significance of these two points, he stated
in very emphatic, almost absolute terms that if the market goes up to resistance, it will stop and reverse;
and if the market goes down to support, it will also stop and reverse. Then he explained that if the
market went down to the price level he calculated as support, his calculations indicated that would also
be the low of the day. As they sat there, the bean market was slowly trending down to the price the
analyst said would be the support, or low, of the day. When it finally got there, the chairman looked
over to the analyst and said, "This is where the market is supposed to stop and go higher, right?"
The analyst responded, "Absolutely! This is the low of the day." "That's bullshit!" the chairman
retorted. "Watch this." He picked up the phone, called one of the clerks handling orders for the soybean
pit, and said, "Sell two million beans (bushels) at the market." Within thirty seconds after he placed the
order, the soybean market dropped ten cents a bushel. The chairman turned to look at the horrified
expression on the analysts face. Calmly, he asked, "Now, where did you say the market was going to
stop? If I can do that, anyone can."
swing it!
  • #753,746
  • Feb 4, 2013 6:39am Feb 4, 2013 6:39am
So all bulls are out now ? Time to go up
  • #753,747
  • Feb 4, 2013 6:45am Feb 4, 2013 6:45am
Hopefully just picked up some cheap longs, eu ej an gj all with tight stops.. Good luck everyone!
Want the lifestyle of the top traders in the world? TAKE RISK.
  • #753,748
  • Feb 4, 2013 6:46am Feb 4, 2013 6:46am
Quoting Fxnewdeal
So all bulls are out now ? Time to go up
That which does not kill us makes us stronger
  • #753,749
  • Feb 4, 2013 6:48am Feb 4, 2013 6:48am
Quoting tomspin
"As the technical analyst was explaining to the chairman the significance of these two points, he stated
in very emphatic, almost absolute terms that if the market goes up to resistance, it will stop and reverse;
and if the market goes down to support, it will also stop and reverse. Then he explained that if the
market went down to the price level he calculated as support, his calculations indicated that would also
be the low of the day. As they sat there, the bean market was slowly trending down to the price the
analyst said would be the...

Hence why I pay a very close attention when someone posted 'HEAVY SHORT'. Could be 1 mini lot or 1,000,000 standard lots
  • #753,750
  • Feb 4, 2013 6:48am Feb 4, 2013 6:48am
Quoting tomspin
"As the technical analyst was explaining to the chairman the significance of these two points, he stated
in very emphatic, almost absolute terms that if the market goes up to resistance, it will stop and reverse;
and if the market goes down to support, it will also stop and reverse. Then he explained that if the
market went down to the price level he calculated as support, his calculations indicated that would also
be the low of the day. As they sat there, the bean market was slowly trending down to the price the
analyst said would be the support,...
hows that soybean market compare to a 4 trillion$ a day Forex market, size wise?
those who can, do. those who cant, talk about those who can
  • #753,751
  • Feb 4, 2013 6:49am Feb 4, 2013 6:49am
Quoting tomspin
"As the technical analyst was explaining to the chairman the significance of these two points, he stated
in very emphatic, almost absolute terms that if the market goes up to resistance, it will stop and reverse;
and if the market goes down to support, it will also stop and reverse. Then he explained that if the
market went down to the price level he calculated as support, his calculations indicated that would also
be the low of the day. As they sat there, the bean market was slowly trending down to the price the
analyst said would be the...
Hehehe, true...there are of course plenty of reasons why the weekly low won't happen on Tuesday. It's just something that happens a lot (read: not always) for the EURUSD. Just like Monday morning (London open) often shows a spike in the "wrong" direction before resuming a trend.

Either way, there isn't a clear long signal yet...although on the M15 charts it starts to look as if a (temporary) bottom has been found. Let's see what NYC open brings

EUR equities are taking a bit of a dive too today...

PS: Still not trading...not a big fan of Mondays, especially if there's a general lack of market moving news.
  • #753,752
  • Feb 4, 2013 6:51am Feb 4, 2013 6:51am
Quoting mercy seat
Last Post: Feb 4, 2013 13:14

Currently at 1.35629 ...

Downside looks over and done ...

Should pop up again soon ...







;-|

After this statement we did re-load some chunks @ 1.35560 again ...

Done at 13h31 CET







;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #753,753
  • Feb 4, 2013 6:55am Feb 4, 2013 6:55am
Quoting vlady1974
My positions are all based purely on 1H as the highest TF with entries via 5M and 15M.

What's worrying me is that the weekly hi/lo suggests mid of 564. On the 1H, that's the 100EMA.
Benny's right. The tree needs shakin'.
Quoting vlady1974
My positions are all based purely on 1H as the highest TF with entries via 5M and 15M.

What's worrying me is that the weekly hi/lo suggests mid of 564. On the 1H, that's the 100EMA.
Benny's right. The tree needs shakin'.
I was in a very long meeting whilst I flicked on the smartphone to find I'd been stopped out my positions -25. Poo.
But it's hit the mid level I was watching... 64. So Long 64.4, SL 49.4, TP open.

Shite start... but that's the way it is. Am contemplating whether to trade Mondays at all as per the discussion here last week. Let's see how this week turns out.
A pip is only worth it if you know how much you risked to earn it
  • #753,754
  • Feb 4, 2013 6:56am Feb 4, 2013 6:56am
Quoting gatorinla
hows that soybean market compare to a 4 trillion$ a day Forex market, size wise?
quote was not about comparing markets...you were talking about importance of probabilities lately, didn't you?
swing it!
  • #753,755
  • Feb 4, 2013 7:01am Feb 4, 2013 7:01am
Quoting vlady1974
I was in a very long meeting whilst I flicked on the smartphone to find I'd been stopped out my positions -25. Poo.
But it's hit the mid level I was watching... 64. So Long 64.4, SL 49.4, TP open.

Shite start... but that's the way it is. Am contemplating whether to trade Mondays at all as per the discussion here last week. Let's see how this week turns out.
Don't really know how people can trade whilst doing something else, for me anyway, it just wouldn't work. Do you do it for entertainment or to actually make money?
  • #753,756
  • Feb 4, 2013 7:03am Feb 4, 2013 7:03am
i think eur/usd will go higher towards 1.3750 to finish the last wave . im long with sloss 1.355
  • #753,757
  • Feb 4, 2013 7:05am Feb 4, 2013 7:05am
Quoting tomspin
quote was not about comparing markets...you were talking about importance of probabilities lately, didn't you?
just asking a question
those who can, do. those who cant, talk about those who can
  • #753,758
  • Feb 4, 2013 7:06am Feb 4, 2013 7:06am
Quoting ForExtraPips
I'm looking at 1.3733 and 1.3564.

Just woke up. I knew I should have went short when the market opened yesterday. short now @ 1.3570 sl @ 1.3555 tp @ 1.3641
Time turns trend. - W.D. Gann
  • #753,759
  • Feb 4, 2013 7:08am Feb 4, 2013 7:08am
Quoting cat
Don't really know how people can trade whilst doing something else, for me anyway, it just wouldn't work. Do you do it for entertainment or to actually make money?
EAs make it possible...I take 99% of my trades on a tablet during work breaks

You just need to set up your charts properly and have sensible stop loss programs. I use 2 depending on whether the market is trending or ranging.
  • #753,760
  • Feb 4, 2013 7:08am Feb 4, 2013 7:08am
Quoting cat
Don't really know how people can trade whilst doing something else, for me anyway, it just wouldn't work. Do you do it for entertainment or to actually make money?
Good point cat...

Vlady, I truly think unless you trade weekly with a low leverage and have stops larger than 50+ pips, it will most of the time be painful for you to trade this intraday. At some point, excitement and fear will cause make you take wrong decisions. Think about it mate, conditions change pretty quickly here, some market news may affect the picture intraday and so on. I think you need to revisit the idea of trading this thing depending on a higher time frame... Just saying...
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