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  • #40,801
  • Mar 28, 2013 7:54am Mar 28, 2013 7:54am
Quoting Julexo
scalping top
Attachment
Did the same, very high vol with new high is always good for a scalp
COT: The precious data ignored
  • #40,802
  • Mar 28, 2013 8:03am Mar 28, 2013 8:03am
Quoting kuroro001
Did the same, very high vol with new high is always good for a scalp

buyers have to give back for sellers what they got to much
  • #40,803
  • Mar 28, 2013 8:09am Mar 28, 2013 8:09am
I think close of this 4h candle should let us know where PA is going. Notice how PA is stuck at blue BB mid a very strong MA and R1. So next 55mins should give us alot more help in which direction as you can see it can go either way. I am bearish and think we will see 2700 first before a stronger up move.
Attached Image (click to enlarge)
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  • #40,804
  • Mar 28, 2013 8:19am Mar 28, 2013 8:19am
Quoting Bocephus
I think close of this 4h candle should let us know where PA is going. Notice how PA is stuck at blue BB mid a very strong MA and R1. So next 55mins should give us alot more help in which direction as you can see it can go either way. I am bearish and think we will see 2700 first before a stronger up move.
why not, it may be a good time to short !? ....direct to 1.2700 !?
  • #40,805
  • Mar 28, 2013 8:25am Mar 28, 2013 8:25am
2837 = 61.8% Fib?
Wait, or you will be slaughtered!
  • #40,806
  • Mar 28, 2013 8:29am Mar 28, 2013 8:29am
Were is a good place to add to a long? After a break of the 1.2840-2860 area??
  • #40,807
  • Mar 28, 2013 8:40am Mar 28, 2013 8:40am
Quoting Uturn2
2837 = 61.8% Fib?
Yes, I'm looking at the same retracement, but price is very bullish right now.
  • #40,808
  • Mar 28, 2013 8:47am Mar 28, 2013 8:47am
Quoting stevewalker
surely those rules effected FX in US
when you lımıt Lev with 1:50 FX is dead. does not make sense trading with an account balance < ~$50,000
so many US FX traders may stop trading. FIFO is not a big issue it can be handled with 2 accounts

he he forget him. newbie. thats normal.
Smaller leverage such as 50:1 can be a blessing though.

I live in the USS of A so I am forced to these rules because the government is here to protect me unless they are stealing your money ie MFG.

My account is under 50K and I still trade making gains. Sometimes big, sometimes little sometimes none at all that day. My strategy is one of a career as I am in it for the long haul walking to wealth.

For the FIFO that bit me in the butt at first but when my MM software generates a pos size I check to make sure I dont have one at that size and if I do I increase it by 1 unit.

I use the 2nd account to trade the opposite bias (long).

You do what you have to do to make it work. Challenges only make you strong if you rise above them.
Trade smaller than rational because the market is irrational...
  • #40,809
  • Mar 28, 2013 8:59am Mar 28, 2013 8:59am
Quoting Uturn2
2837 = 61.8% Fib?
30m appears to be fading at that level.
Very small Short 2840
Wait, or you will be slaughtered!
  • #40,810
  • Mar 28, 2013 9:04am Mar 28, 2013 9:04am
We might have a top.
The 2H engulfed the body of the previous candle in 3mins flat!
Edit: Added Short

Quoting Uturn2
30m appears to be fading at that level.
Very small Short 2840
Wait, or you will be slaughtered!
  • #40,811
  • Mar 28, 2013 9:17am Mar 28, 2013 9:17am
Quoting Uturn2
30m appears to be fading at that level.
Very small Short 2840

Very nice end of 5th wave as we enter supply zone.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #40,812
  • Mar 28, 2013 9:26am Mar 28, 2013 9:26am
Quoting Mr. Scott
Very nice end of 5th wave as we enter supply zone.
Thanks Scott.
Today looks weird,
but think it is just part of the correction.
I'm looking South to ~1.2700?
Cheers mate!
Attached Image (click to enlarge)
Click to Enlarge Name: 130328_1H[1]EURUSD.png Size: 33 KB
Wait, or you will be slaughtered!
  • #40,813
  • Mar 28, 2013 9:43am Mar 28, 2013 9:43am
Quoting Uturn2
30m appears to be fading at that level.
Very small Short 2840
I took the same trade at 2838 on the second wave. May be a good chance

Cheers
  • #40,814
  • Mar 28, 2013 9:49am Mar 28, 2013 9:49am
Quoting Uturn2
Thanks Scott.
Today looks weird,
but think it is just part of the correction.
I'm looking South to ~1.2700?
Cheers mate!

Edit:
Bon Jovi Hallelujah
Not EU,
pls don't tell Steve
Wait, or you will be slaughtered!
  • #40,815
  • Mar 28, 2013 9:53am Mar 28, 2013 9:53am
Looking south too Uturn2, very tempted to sell into this long weekend, especially if the day closes below 2828, but gonna wait for better price if i get it back up to the 40's.

See you guys tomrrow maybe, sunday evening for sure.. peace
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  • #40,816
  • Mar 28, 2013 9:56am Mar 28, 2013 9:56am
Quoting Lucrativ
Looking south too Uturn2, very tempted to sell into this long weekend, especially if the day closes below 2828, but gonna wait for better price if i get it back up to the 40's.

See you guys tomrrow maybe, sunday evening for sure.. peace
Wait, or you will be slaughtered!
  • #40,817
  • Mar 28, 2013 9:57am Mar 28, 2013 9:57am
Quoting Uturn2
Thanks Scott.
Today looks weird,
but think it is just part of the correction.
I'm looking South to ~1.2700?
Cheers mate!
We will see my friend. Looks like it wants up first but I like the trade. Do see 1.2666 as inevitable, just a matter of how. Would expect "weird" pa as liquidity dries up with the Holidays. Will check, but doubt I will do much over next couple of days. Tends to be too frustrating. But the waves were there today as per wave 3 earlier today.

All the best to you and the family for the weekend, as well as my friends here at this thread.

Cheers,
Scott
Attached Image (click to enlarge)
Click to Enlarge Name: eurh1.jpg Size: 68 KB
The world you desire can be won. It exists.. it is real.. it is possible..
  • #40,818
  • Mar 28, 2013 10:00am Mar 28, 2013 10:00am
Hey mok,
Is it dropping out of the Fib Channel.
I don't have the same charts as you.
Ignore the wave counting..............
It looks like it may be forming a ZZ [Long]?
Attached Image (click to enlarge)
Click to Enlarge Name: 130328_5m[1]EURUSD.png Size: 38 KB
Wait, or you will be slaughtered!
  • #40,819
  • Mar 28, 2013 10:03am Mar 28, 2013 10:03am
Thanks Scott,
All the Very Best to you and yours mate!

Quoting Mr. Scott
We will see my friend. Looks like it wants up first but I like the trade. Do see 1.2666 as inevitable, just a matter of how. Would expect "weird" pa as liquidity dries up with the Holidays. Will check, but doubt I will do much over next couple of days. Tends to be too frustrating. But the waves were there today as per wave 3 earlier today.

All the best to you and the family for the weekend, as well as my friends here at this thread.

Cheers,
Scott
Wait, or you will be slaughtered!
  • #40,820
  • Mar 28, 2013 10:10am Mar 28, 2013 10:10am
Quoting Uturn2
Hey mok,
Is it dropping out of the Fib Channel.
I don't have the same charts as you.
Ignore the wave counting..............
It looks like it may be forming a ZZ [Long]?
Hey

Currently under 5 and 15min channel-lines.
According to channels next stop sould be around 2995-2803, but this week we have had a lot of reversals and moves in the middle of the channels without touching the other channel-line.
If we could break 2813, then i think we might go to that area with one 5min candle.
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