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  • #10,281
  • Feb 14, 2013 12:58pm Feb 14, 2013 12:58pm
If you can not see it on the 1 hr. Look at the 15 min, it doesn´t bite.
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Cut your Losers short and let your Winners run.
  • #10,282
  • Feb 14, 2013 2:46pm Feb 14, 2013 2:46pm
Quoting dee50
The earlier 123 was more relevant. Zoom Out (chart 2). Support level at 123.70ish. 89% fib. Confluence of 78% fib & 161.8% FEE of earlier 123. But so what. You made nice pips anyway. +70ish pips?
Thanks Dee for your answer. 80 now and counting Small lot but green pips are green peps. Cheers
  • #10,283
  • Feb 14, 2013 2:56pm Feb 14, 2013 2:56pm
Quoting tonny47
told myself earlier that i dont want to try to catch falling knife but still got long eurusd an hour ago. tdi is oversold and crossed. decent euro move down, and major support from 21-24 january 2013. lets see how this one plays out
UPDATE: just closed it for +25 pips profit. originally aimed for higher profit but keep on checking my charts way too often to focus on something else
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  • #10,284
  • Feb 14, 2013 3:02pm Feb 14, 2013 3:02pm
Quoting gigicualex
Thanks Dee for your answer. 80 now and counting Small lot but green pips are green peps. Cheers
hey buddy, would you mind sharing your other trades? what other trades did you take other than the 50 pip loss to end up positive 80?
  • #10,285
  • Feb 14, 2013 3:51pm Feb 14, 2013 3:51pm
Quoting mierzyk
Phx62,

Feb 11th (Monday) and Feb 12th (Tuesday) were one of these days that turn the world around. If I had traded them, I would have lost pleny of pips. I'd be very grateful, if you would comment and share your view on at least some of below analyses.

Thankyou!


http://img9.imageshack.us/img9/6856/eupuzzle.jpg


TUESDAY:

Thurstaday and Friday are bearish days that created lower lows and higher lows. Friday's drop was quick and massive. Part of Monday is captured on the screen.


I. Then there is bar (1) (Frankfurt Open)....
I. The Frankfurt session is seldom a good area to assess price action of the EU....there are way too many reversals and fake outs.....Bar 1 gave no clear indication of direction....there were long wicks on both ends of that candle and at bar 2, green crossed over red and yellow indicating bias for a long trade. The only time I enter at LO is when there is a continuation of trend from the Asian/Frankfurt sessions.......so no entry on that bar.
II. Your assessment of bar 2 is correct and I would have probably entered at the open of bar 3 and would have been stopped out at BE on bar 4. I enter all EU trades with a 40 or 50 pip SL and a 40 or 50 pip TP depending on the ADR at the time.
III. I would only be looking at long trades based on the TDI....the MBL is sloping up and green is over red BUT all the lines are hanging out around the 50 line....no clear entry there......Bars 1, 2, 4, 5 & 6 all have wicks at both ends of the candles........that tells you that there is no clear direction or trend.....the bears and the bulls are still battling to determine direction of price....

IV. The LO bar set the low of the London session.....you would have no way of knowing that until a couple more bars printed but by bar C it was evident that price would probably continue long for 3 to 8 candles.....so I would be looking for long trades.....MBL sloping up with green over red over yellow BUT the TDI is still hanging around the 50 line.....long bias but no entry on bars A or B........once bar C changed color and the green TDI moved up sharply, I would have entered a trade once price crossed over the resistance line at 1.3393 or cleared the top of bar B......my TP would have been at the 200EMA or daily resistance area around 1.3455......
V. I never enter trades on the NYO bar......I wait for the 2nd or 3rd candle depending on news.....again I would only be looking for long trades here based on the TDI and price action during the London session....I would expect price to retest the 200 EMA and might have entered on bar H, once price cleared the high of bar G....could have gotten 20 to 40 pips there based on whether you expected price to break through the 200 and resistance or be rejected by the 200 again.......
Hope this helps........
  • #10,286
  • Feb 14, 2013 4:08pm Feb 14, 2013 4:08pm
EJ H1 trades the last 2 days.......
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  • #10,287
  • Feb 14, 2013 4:44pm Feb 14, 2013 4:44pm
Quoting Phx62
Hope this helps........
You wouldn't belive how much. Thankyou.
Remember I'm a newbie!
  • #10,288
  • Feb 14, 2013 9:56pm Feb 14, 2013 9:56pm
Quoting Phx62
I. The Frankfurt session is seldom a good area to assess price action of the EU....there are way too many reversals and fake outs.....Bar 1 gave no clear indication of direction....there were long wicks on both ends of that candle and at bar 2, green crossed over red and yellow indicating bias for a long trade. The only time I enter at LO is when there is a continuation of trend from the Asian/Frankfurt sessions.......so no entry on that bar.
[color=#0000ff]II. Your assessment of bar 2 is correct and I would have probably...
Helps me too

Thanks
I Have Learned to Take Some Losses to Make Profits
  • #10,289
  • Feb 15, 2013 7:26am Feb 15, 2013 7:26am
what did just happened? is it just me or eurjpy had just moved about 70 pips up in a split of second!?! i was looking at the chart at the time when i actually saw the price shoot up. literally a second. but then i checked 1 min chart and the move took several minutes according to that so thinking if my chart just froze or what not... anybody else had the same issue?
  • #10,290
  • Feb 15, 2013 7:30am Feb 15, 2013 7:30am
Quoting tonny47
what did just happened? is it just me or eurjpy had just moved about 70 pips up in a split of second!?! i was looking at the chart at the time when i actually saw the price shoot up. literally a second. but then i checked 1 min chart and the move took several minutes according to that so thinking if my chart just froze or what not... anybody else had the same issue?
look at H4... technical support.
Only need G20 meeting to open and SM move.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,291
  • Feb 15, 2013 7:39am Feb 15, 2013 7:39am
got long eurjpy at london open - really silly decision! right after a bearish candle! then reentered again long with small stop so in total lost on that trading idea about 45 pips.
there is one more trade on the chart which shows as break even - thats just me accidentally entering trade, got out immediately for 2 pip loss
then finally i got long again and took about 65 pips. so i am net +18 pips for a day.

the eurjpy taken based on major support - zoom out daily charts and you will see what i mean

also was long euro but got stopped out at break even - moved my stop quickly since the spike on eurjpy freaked me out.
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  • #10,292
  • Feb 15, 2013 7:42am Feb 15, 2013 7:42am
hi emmanuel i noticed the support
what i meant was whether it was just me or it really happened in one second (the 70-pip move) and i mean second. but now i assume it was just something wrong with my charts

EDIT: sorry what do you mean by SM move?
Quoting emmanuel7788
look at H4... technical support.
Only need G20 meeting to open and SM move.
  • #10,293
  • Feb 15, 2013 8:02am Feb 15, 2013 8:02am
Additionally, the 4h EJ just completed a nearly perfect bullish ab-cd
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  • #10,294
  • Feb 15, 2013 8:10am Feb 15, 2013 8:10am
Quoting tonny47
hi emmanuel i noticed the support
what i meant was whether it was just me or it really happened in one second (the 70-pip move) and i mean second. but now i assume it was just something wrong with my charts

EDIT: sorry what do you mean by SM move?
big move ...70pips not unusual considering the recent high volatility of this pair. This is how Smart Money moves the market
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #10,295
  • Feb 15, 2013 8:14am Feb 15, 2013 8:14am
Quoting emmanuel7788
big move ...70pips not unusual considering the recent high volatility of this pair. This is how Smart Money moves the market


i wish my money was smart enough to catch more of that move
  • #10,296
  • Feb 15, 2013 8:17am Feb 15, 2013 8:17am
nice! i see you caught about 100 pips on it! do you only trade 4 hour charts? how is that working out for you?

Quoting illlili
Additionally, the 4h EJ just completed a nearly perfect bullish ab-cd
  • #10,297
  • Feb 15, 2013 8:20am Feb 15, 2013 8:20am
hey Dee, nice trade! werent you scared that price will go to retest 1.3300 level? and where was your SL?

Quoting dee50
EU + 50pips. Divergence at Major S&R level 89% Fib, 1Hr TDI not yet crossed but 15 min Yes
  • #10,298
  • Feb 15, 2013 8:26am Feb 15, 2013 8:26am
signal and close position with TMS system

enjoy
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  • #10,299
  • Feb 15, 2013 8:27am Feb 15, 2013 8:27am
Quoting tonny47
hey Dee, nice trade! werent you scared that price will go to retest 1.3300 level? and where was your SL?
Divergence on 4hr 1hr and 15 min. TDI at the 32 level on the 1hr and 15 min and 5 min. 10 pip SL, move to B/E at 10pips in profit. All of this tempered any doubts about the 1.3300. If the news had been negative I would simply have closed the trade.
Cut your Losers short and let your Winners run.
  • #10,300
  • Feb 15, 2013 8:30am Feb 15, 2013 8:30am
next
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