why short
why high risk trade
why reveese trade
why high risk trade
why reveese trade
Exit: all longs, adding shorts
- #34,223
- Feb 12, 2013 5:12am Feb 12, 2013 5:12am
- Joined Oct 2012 | Status: private | 2,606 Posts
just do it
- #34,230
- Feb 12, 2013 5:23am Feb 12, 2013 5:23am
- | Membership Revoked | Joined Dec 2012 | 1,215 Posts
- #34,233
- Feb 12, 2013 5:26am Feb 12, 2013 5:26am
- Joined Oct 2012 | Status: private | 2,606 Posts
just do it
- #34,238
- Feb 12, 2013 5:37am Feb 12, 2013 5:37am
- | Commercial User | Joined Jan 2013 | 1,169 Posts
Nice PA action on the Euro. 
Let me post a chart update for what we could/need to see in the Euro:
http://www.forexfactory.com/attachme...1&d=1360668613
The Scenario 2b indicated in the morning (check my prev post) is playing out. The 1.3451 threshold is now gone. We have two other important levels above current price that could now be violated on the upside (and there is now a good probability they will).
First is the 1.3510 level and then is the 1.3580 level.
The violation on the upside of the 1.3510 level would confirm the support area at 1.3360 also on the daily timeframe. In that case any retest of the 1.3360 should probably hold.
If the 1.3510 level is violated on the upside we could still get a retrace (that would be the entry/or an add for the big guys on this move higher), We could retrace into the 1.3450 (will be more precise on the actual area in the coming days).
The violation on the upside of the 1.3580 level would confirm the swing target in the 1.3870 area, which is where I will remove my swing longs.
PS: I am going to record a video every evening for the next day. Will also post a chart in the Euro-related threads. Check the "Euro/Dollar" thread for updates, that will be the first thread where I will post chart.
Please let me have your thoughts.
Have a great, great, green, green day
Let me post a chart update for what we could/need to see in the Euro:
http://www.forexfactory.com/attachme...1&d=1360668613
The Scenario 2b indicated in the morning (check my prev post) is playing out. The 1.3451 threshold is now gone. We have two other important levels above current price that could now be violated on the upside (and there is now a good probability they will).
First is the 1.3510 level and then is the 1.3580 level.
The violation on the upside of the 1.3510 level would confirm the support area at 1.3360 also on the daily timeframe. In that case any retest of the 1.3360 should probably hold.
If the 1.3510 level is violated on the upside we could still get a retrace (that would be the entry/or an add for the big guys on this move higher), We could retrace into the 1.3450 (will be more precise on the actual area in the coming days).
The violation on the upside of the 1.3580 level would confirm the swing target in the 1.3870 area, which is where I will remove my swing longs.
PS: I am going to record a video every evening for the next day. Will also post a chart in the Euro-related threads. Check the "Euro/Dollar" thread for updates, that will be the first thread where I will post chart.
Please let me have your thoughts.
Have a great, great, green, green day
"markets traded by programs/HFT offer a significant trading edge..."
- #34,240
- Feb 12, 2013 5:44am Feb 12, 2013 5:44am
- Joined Dec 2010 | Status: Trader | 18,740 Posts
you can use anything as long as it works
One can't use everything for trading because of time limitations. So it is important to use what gives most edge and still allows to do qualitative analysis. ATM I don't use anything but price .. however this is 2nd time in short time, when my desired entry price doesn't get reached and trendline works as support/resistance.
Do you guys think these turning points could have something to do with trendlines? or it is just a coincidence.