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  • #1,541
  • Mar 18, 2013 10:37am Mar 18, 2013 10:37am
Quoting Olarion1975
Good decision, seems if the high is holding. Let's see.
It will probably get on up there. The real resistance will be the Friday low. The vote on the theft of the Cyprus citizen's savings was moved to tomorrow so it may go up until then.
  • #1,542
  • Mar 18, 2013 11:13am Mar 18, 2013 11:13am
Quoting Seneca pilot
It will probably get on up there. The real resistance will be the Friday low. The vote on the theft of the Cyprus citizen's savings was moved to tomorrow so it may go up until then.
You were damn right, awesome!
Closed one half at 1/1, second half running with stop at BE...
  • #1,543
  • Mar 18, 2013 11:32am Mar 18, 2013 11:32am
Quoting snail69
Daily Open (DO) trade - EJ - Seneca style, in confluence with S4 pivot, may or may not hit yesterday low, but confluence of Friday DO and 75 level is there.

I look also for candlestick patterns around levels.

Those set ups are quite regular.

PS: Tantum, obviously Seneca does not mind posting trades within scope of his teachings. So I post...
This is what I actually teach but do what works for you.
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  • #1,544
  • Mar 18, 2013 11:46am Mar 18, 2013 11:46am
Am baby sitting it.
  • #1,545
  • Mar 18, 2013 11:49am Mar 18, 2013 11:49am
Quoting Seneca pilot
This is what I actually teach but do what works for you.
EJ daily open would have been a loser for me but not traded because EU is in the driver seat as of last week. EJ missed the low by a few pips as it went up with EU after EU bounced off lows.
  • #1,546
  • Mar 18, 2013 11:50am Mar 18, 2013 11:50am
Quoting Seneca pilot
This is what I actually teach but do what works for you.
Cool you have sunday plotted so that you can get the previous day low. Some of us have to start on Monday, like today 18th, so our previous low is on friday.
  • #1,547
  • Mar 18, 2013 11:50am Mar 18, 2013 11:50am
Quoting square1
Am baby sitting it.
Nothing to babysit now once 1/1 is met just move stop to BE and let it rip. You never know this could go up all week and you could end up with a 200+pip runner.
  • #1,548
  • Mar 18, 2013 11:54am Mar 18, 2013 11:54am
Quoting square1
Cool you have sunday plotted so that you can get the previous day low. Some of us have to start on Monday, like today 18th, so our previous low is on friday.
I think you and I talked about this before. I view the weekend trade as an extension of Friday. That was my low for the purposes of the daily trades. The Friday low may prove to be resistance here but this is an unusual situation. Normally the prices will overlap somewhat.
  • #1,549
  • Mar 18, 2013 11:59am Mar 18, 2013 11:59am
Quoting square1
Cool you have sunday plotted so that you can get the previous day low. Some of us have to start on Monday, like today 18th, so our previous low is on friday.
That trade triggered at Seven AM your time. Were you sleeping in?
  • #1,550
  • Mar 18, 2013 12:01pm Mar 18, 2013 12:01pm
Quoting Seneca pilot
I think you and I talked about this before. I view the weekend trade as an extension of Friday. That was my low for the purposes of the daily trades. The Friday low may prove to be resistance here but this is an unusual situation. Normally the prices will overlap somewhat.
Yep. I see the Friday low has even been bypassed to the upside.

Edit: Sorry, Friday low is way up. I was looking at previous week low.
  • #1,551
  • Mar 18, 2013 12:08pm Mar 18, 2013 12:08pm
Quoting square1
Yep. I see the Friday low has even been bypassed to the upside.

Edit: Sorry, Friday low is way up. I was looking at previous week low.
Not yet I have Friday low at 1.30099.
  • #1,552
  • Mar 18, 2013 12:08pm Mar 18, 2013 12:08pm
Quoting Seneca pilot
That trade triggered at Seven AM your time. Were you sleeping in?
I rechecked on the H4, it was midnight.
  • #1,553
  • Mar 18, 2013 12:17pm Mar 18, 2013 12:17pm
Quoting Seneca pilot
Not yet I have Friday low at 1.30099.
Not a big difference. Mine i have it at 1.29986 and it has already bounced off that level.
  • #1,554
  • Mar 18, 2013 12:18pm Mar 18, 2013 12:18pm
Quoting square1
I rechecked on the H4, it was midnight.
Did you move already?
  • #1,555
  • Mar 18, 2013 12:24pm Mar 18, 2013 12:24pm
Quoting Seneca pilot
Did you move already?
Not yet. Here is my H4 chart.
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  • #1,556
  • Mar 18, 2013 12:26pm Mar 18, 2013 12:26pm
Quoting Seneca pilot
Nothing to babysit now once 1/1 is met just move stop to BE and let it rip. You never know this could go up all week and you could end up with a 200+pip runner.
Seneca, do you move your stop now to BE at 1/1 also for the "normal" level trades or only for the range breakout?
  • #1,557
  • Mar 18, 2013 12:27pm Mar 18, 2013 12:27pm
Quoting square1
Not a big difference. Mine i have it at 1.29960 and it has already bounced off that level.
Your level appears to be from Thursday's US afternoon/pre-Asia session. This area was the low after London close. Might want to check to just verify, because 13 pips is more than just broker differences.

I think you said OANDA is your feed and per my OANDA feed it's only pipette's off of SP's.

EDIT: Didn't see your chart in my above response. You're working off of different times than SP
  • #1,558
  • Mar 18, 2013 12:37pm Mar 18, 2013 12:37pm
Quoting TantumVerum
Your level appears to be from Thursday's US afternoon/pre-Asia session. This area was the low after London close. Might want to check to just verify, because 13 pips is more than just broker differences.

I think you said OANDA is your feed and per my OANDA feed it's only pipette's off of SP's.

EDIT: Didn't see your chart in my above response. You're working off of difference times than SP
Yep. With me am in East Africa. My Time Zone is GMT+3, I use FxPro for my feed and Oanda for demo.
  • #1,559
  • Mar 18, 2013 12:52pm Mar 18, 2013 12:52pm
Quoting Olarion1975
Seneca, do you move your stop now to BE at 1/1 also for the "normal" level trades or only for the range breakout?
Only the opening range breakout. I am all in and all out on the normal levels trades. Look for anything between 1.5/1 and 3+/1 profits on those but no runners.
  • #1,560
  • Mar 18, 2013 2:33pm Mar 18, 2013 2:33pm
Quoting Seneca pilot
I also heard in the news this weekend that there is rumor that Greece is considering the same type of confiscation of savings. If this type of thing grows across the EU watch out below on all markets. Get long private banking countries because anyone with means will be hiding their money from these socialist policies.
Across the EU all private bank savings of upto 100k Euros (80k GBP) per person, per institution, are protected with governmental/EU insurance scheme. There is no consensus anywhere to change that. This particular idea of taking a percentage of Cypriot bank savers deposits has apparently been largely proposed jointly by the ECB and Cypriot Government because 'Cyprus's banking structure [is] different from others in the eurozone, with fewer private bondholders, there [has] to be a tax on ordinary savers.' Now neither could be said to be socialist institutions - the Cypriot government is a Conservative party (close to US Republican). This is anyway the opposite of a socialist act as ordinary savers are being hit not benefited.

But there is a concern that if this is implemented in Cyprus (a tiny economy) it could cause a run on the banks in Spain for example where the economy is also seriously struggling and where investers may get the jitters despite there being no current proposal or mechanism by which similar could be imposed on Spanish savers. The damage to EU saver confidence is the danger not that this will be repeated elsewhere. Either way you are right, Offshore banking will be where the money goes plus maybe metals?
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