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  • #763,281
  • Feb 25, 2013 4:40am Feb 25, 2013 4:40am
Quoting math_GB
I missed the entry @124.32 Ride it mate...! I am not sure about 125.00 but a new high seems to be in order
i missed 124.19 entry cos was with my dog
looking for investors . pm me
  • #763,282
  • Feb 25, 2013 4:41am Feb 25, 2013 4:41am
Booked another +11 on this UP .. KB joining you on 124,20
  • #763,283
  • Feb 25, 2013 4:43am Feb 25, 2013 4:43am
If E/U is not breaking 1.3264, E/J probably won't touch 125.00 because U/J is capped at 94.00 for now.
  • #763,284
  • Feb 25, 2013 4:43am Feb 25, 2013 4:43am
Quoting kbmoonshinex
i missed 124.19 entry cos was with my dog
I still can't clear the picture of attila's dog on my mind mate, please do not mention"dog" again today...
  • #763,285
  • Feb 25, 2013 4:46am Feb 25, 2013 4:46am
Quoting Cjh
Put a SL on that? Whats your TP?
target +15 pips and im out.
  • #763,286
  • Feb 25, 2013 4:46am Feb 25, 2013 4:46am
Quoting Ken A
If E/U is not breaking 1.3264, E/J probably won't touch 125.00 because U/J is capped at 94.00 for now.
i will say short @ 1.3285 !?
  • #763,287
  • Feb 25, 2013 4:46am Feb 25, 2013 4:46am
Quoting SilberSimon
Booked another +11 on this UP .. KB joining you on 124,20
you can try with your own risk bro, me shorted for some pips. 124.56.
looking for investors . pm me
  • #763,288
  • Feb 25, 2013 4:50am Feb 25, 2013 4:50am
Doesn't get much nicer than this..
Attached Image (click to enlarge)
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Want the lifestyle of the top traders in the world? TAKE RISK.
  • #763,289
  • Feb 25, 2013 4:53am Feb 25, 2013 4:53am
Quoting Miguel.N
i will say short @ 1.3285 !?
It's going higher probably 1.3287.
  • #763,290
  • Feb 25, 2013 4:55am Feb 25, 2013 4:55am
Quoting Ken A
It's going higher probably 1.3287.
in my view 285 it's already very high, will see !?
  • #763,291
  • Feb 25, 2013 4:56am Feb 25, 2013 4:56am
Your short looks good as EUR/USD stopped .. will enter on the long side again when setup seem good.
For now i have the wrong broker with a lot of spread - so i see in the past too much gamble will result in a loose.

Quoting kbmoonshinex
you can try with your own risk bro, me shorted for some pips. 124.56.
  • #763,292
  • Feb 25, 2013 4:56am Feb 25, 2013 4:56am
Quoting math_GB
I need to eat your brain for something. I am sure I am not the only one who wonders the answer to the following question so many can benefit your expertise.

- We had a pretty significant gap with EJ last night as we all know.
- There is the "golden rule" - is there is - that all gaps are filled at some point, may it be when the liquidity arrives to the market or traders notice that the new price level is not in conjuction with a correlated asset class or any other reason.
- Sometimes it takes months to close that gap if there were a fundamental...

It is my experience that there are different types of gaps and my view that the golden rule in your quote has been hideously altered by Chinese whispers.

I would say that the quoted rule of always is wrong - if a gap is generated and closed in a timely manner than sure the gap is closed, if however, the price moves right off say gap 6000 to 6030 but price proceeds to 6100 before returning to 6000, is that gap closing or is that 6100 rejection, profit taking, new shorts?

You will notice the numbers I used... deliberate because I believe that gaps are more reliable in the equity markets than anywhere else.
In FX, my view is that there are part of the noise and far less reliable as a price direction.

You need to consider this, if you see a gap say the ej - what was it about 200 pips up gap? then who is going to be trading it for closure?
In theory the bigger players were already long and will be profit taking or looking forward to further gains, if not are they really likely to be entering new large shorts against that kind of move?
I would suggest that they would only do so if the risk was right, and a gap is not part of a risk calculation is it? but should the price land or approach a major S&R point after a gap what would they do then, same as always I would expect.
Another words whilst it may appear that gaps get closed in FX I think it is simply a by product of the trading going on and not a reason for large positions to be entered.

So even if you see a price gap closing - is that what is really happening - I would say not, look deeper

As for one for the most reliable gaps to trade - well when is a gap not a gap - stat-arb trading across equities and sectors. You are monitoring say all the oil shares in the FTSE then Shell gaps up (does not even need to be a price gap - but a statistical gap, means sq. deviations etc) then you trade the "gap" by selling shell and buying the bottom one(s) until the statistical gap is closed.......... This is the most common form of gap trading that I know and there does not even need to be a price gap - and has been traded since the 1950's
  • #763,293
  • Feb 25, 2013 4:57am Feb 25, 2013 4:57am
Quoting SilberSimon
Booked another +11 on this UP .. KB joining you on 124,20
Morning,

What is this based on?
  • #763,294
  • Feb 25, 2013 4:59am Feb 25, 2013 4:59am
with the world watching the Greek elections and no other fundamental data untill Weidmann's speech in a few hours Euro is headed for 1.3325/50 levels. Once the Greek results come out and Berlusconi looks like he might get back in with a coalition and we hit the tredn line from highs of 31st Jan then we'll continue on the downward channel. Easy.
  • #763,295
  • Feb 25, 2013 5:02am Feb 25, 2013 5:02am
Quoting MaxDoom
.... This is the most common form of gap trading that I know and there does not even need to be a price gap - and has been traded since the 1950's
So basically, in the current market sell E/U and buy E/J till they "meet"?
Learning - pip by pip
  • #763,296
  • Feb 25, 2013 5:02am Feb 25, 2013 5:02am
German Dax is UP / EUR is UP / we have bottomed @ 124.00 so far .. so risk can be handeld well for me

Quoting Freshpips
Morning,

What is this based on?
  • #763,297
  • Feb 25, 2013 5:06am Feb 25, 2013 5:06am
Well done mate


Quoting kbmoonshinex
you can try with your own risk bro, me shorted for some pips. 124.56.
  • #763,298
  • Feb 25, 2013 5:06am Feb 25, 2013 5:06am
Quoting MaxDoom
It is my experience that there are different types of gaps and my view that the golden rule in your quote has been hideously altered by Chinese whispers.

I would say that the quoted rule of always is wrong - if a gap is generated and closed in a timely manner than sure the gap is closed, if however, the price moves right off say gap 6000 to 6030 but price proceeds to 6100 before returning to 6000, is that gap closing or is that 6100 rejection, profit taking, new shorts?

You will notice the numbers I used... deliberate because I believe that...
Great response... I guess, it is a stupid idea to take any trade just because there is a gap and will be filled at some point. Market dynamics and large positions effect the price level and one can't simplify it by so called "rules".

Thanks mate...
  • #763,299
  • Feb 25, 2013 5:07am Feb 25, 2013 5:07am
Quoting SilberSimon
Well done mate
80 pips allready scalped eurjpy only. today
looking for investors . pm me
  • #763,300
  • Feb 25, 2013 5:11am Feb 25, 2013 5:11am
Quoting kbmoonshinex
80 pips allready scalped eurjpy only. today
Don't say it too LOUD. You will be crucified - again.
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