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EURUSD

  • #783,121
  • Apr 4, 2013 9:33pm Apr 4, 2013 9:33pm
NFP (Not Freaking Possible)
Trade smaller than rational because the market is irrational...
  • #783,122
  • Apr 4, 2013 9:41pm Apr 4, 2013 9:41pm
took a few small shorts on the gbp @ 1.5225...st target is 1.4926 area ( maybe more, larger target still 1.43xx). i will add more if we get near 1.5250... and close above 1.5260... atm it looks like a decent r/r... for 300 pips r more
those who can, do. those who cant, talk about those who can
  • #783,123
  • Apr 4, 2013 9:44pm Apr 4, 2013 9:44pm
Quoting gatorinla
took a few small shorts on the gbp 1.5225...st target is 1.4926 area ( maybe more, larger target still 1.43xx). i will add more if we get near 1.5250... and close above 1.5260... atm it looks like a decent r/r

very solid trade, that 1.526 looks very solid (again)
Money never sleeps...
  • #783,124
  • Apr 4, 2013 9:51pm Apr 4, 2013 9:51pm
Well after getting hammered last night I can be thankful the week is almost over. Time for a couple of beers.
  • #783,125
  • Apr 4, 2013 9:55pm Apr 4, 2013 9:55pm
gator,

I have a question for you. Two sentences - which one is true and why?

1.) TA works, because if many people act on the same pattern, it becomes a self-fulfilling prophecy.

2.) TA can never work, because if many people act on the same pattern, any kind of edge is instantly lost.

Taken on their own, each sentence makes perfect sense to me, but together they mystify me. Whatīs your take?

edit: for the sake of the argument letīs say this is about retail chartism only, no quant-stuff.
  • #783,126
  • Apr 4, 2013 9:57pm Apr 4, 2013 9:57pm
Quoting gatorinla
2876 broke.. so a entry at 2813ish could be a long with agreement and a pullback,, still a chop zone 2777.5/2876 plus a = distance above 2876 (100 pips).. 2909 is a ypp.
the eu current top is half way to 3009 min target (no shorts for me until).. many times we pull back to 2810, but with that flag. we may not pullback.
if we are going to get the indicated gbp bear and the eu bull... the eg long has X 2 potential $$$$....
those who can, do. those who cant, talk about those who can
  • #783,127
  • Apr 4, 2013 10:09pm Apr 4, 2013 10:09pm
Quoting gatorinla
the eu current top is half way to 3009 min target (no shorts for me until).. many times we pull back to 2810, but with that flag. we may not pullback. if we are going to get the indicated gbp bear and the eu bull... the eg long has X 2 potential $$$$....
the eg is already indicating higher... on its own merits... the arrow is a target.. but a -300 on the gu, along with current eu levels to 3009 is +80 more pips.. so that's about 380 pips, converted into eg pips. makes that arrow short of what the others indicate. so the arrow looks conservative.
Attached Image (click to enlarge)
Click to Enlarge Name: yen.PNG Size: 20 KB
those who can, do. those who cant, talk about those who can
  • #783,128
  • Apr 4, 2013 10:18pm Apr 4, 2013 10:18pm
I find it weird when I have like a weird, creepy feeling a price might be changing directions but I can't prove it. In any case, the price finally crossed a trendline and surpassed a resistance level. Now, we'll see if the Euro forms new lower highs. This could possibly confirm a change in direction, or simply mark a large retracement.
  • #783,129
  • Apr 4, 2013 10:25pm Apr 4, 2013 10:25pm
Usdjpy rejection price.....how long usdjpy going.....
  • #783,130
  • Apr 4, 2013 10:30pm Apr 4, 2013 10:30pm
Quoting vimalcharan
Usdjpy rejection price.....how long usdjpy going.....
Ha, the last time USD/JPY took off like a rocket, it made a very tight consolidation phase (we've just seen that happen again) then the price finally started making larger and larger retracements. I have no idea how markets will react to the US data coming out in the morning but we have a weekend coming up so I'm being cautious. I can't wait until next week.
  • #783,131
  • Apr 4, 2013 10:32pm Apr 4, 2013 10:32pm
Quoting Myo
gator, I have a question for you. Two sentences - which one is true and why? 1.) TA works, because if many people act on the same pattern, it becomes a self-fulfilling prophecy. 2.) TA can never work, because if many people act on the same pattern, any kind of edge is instantly lost. Taken on their own, each sentence makes perfect sense to me, but together they mystify me. Whatīs your take? edit: for the sake of the argument letīs say this is about retail chartism only, no quant-stuff.
my little brain can only hold so much. so i just trade what i see as happening more times then not. it works more then it doesn't. with central bank news it decreases. many times in a BS move the mofu will stop a new/old trend trying to form in its tracks. Sunday we did not close the month below 2777.5.. but we still were bearish (below 2909).. just less strong bearish. the bulls have a test at 2974.5 ... the target above it at 3009 may not happen (it does happen most times).. or it may just be a 26 pip wick and close below 2974.5.. i dont know... central bank interference does not show up on a chart till after the fact.
those who can, do. those who cant, talk about those who can
  • #783,132
  • Apr 4, 2013 10:39pm Apr 4, 2013 10:39pm
[quote=gatorinla;6576295]my little brain can only hold so much. so i just trade what i see as happening more times then not. it works more then it doesn't. with central bank news it decreases. many times in a BS move the mofu will stop a new/old trend trying to form in its tracks. Sunday we did not close the month below 2777.5.. but we still were bearish (below 2909).. just less strong bearish. the bulls have a test at 2974.5 ... the target above it at 3009 may not happen (it does happen most times).. or it may just be a 26 pip wick and close below 2974.5.. i dont know... central bank interference does not show up on a chart till after the fact.[/quote]


aint that the truth, especially for us mere mortals, my kingdom for a microphone carrying fly

any thoughts on aussie gator, been ranging since year open, bo should be nice move
If you are new to Forex? Say Goodbye to your account!!
  • #783,133
  • Apr 4, 2013 10:43pm Apr 4, 2013 10:43pm
Quoting MaxDoom
thought you might like to see how that retrace all worked out in the end (see chart) So the M5 ABC did become wA on the larger TF - this also allowed me to reset the targets. The correction did end between 23% & 50% and also at my revised target zone {image}
Thanks for the chart. Which means wC is completed I suppose? Are we considered on a new TS - TE?
  • #783,134
  • Apr 4, 2013 11:02pm Apr 4, 2013 11:02pm
Quoting KiwiTrada
my little brain can only hold so much. so i just trade what i see as happening more times then not. it works more then it doesn't. with central bank news it decreases. many times in a BS move the mofu will stop a new/old trend trying to form in its tracks. Sunday we did not close the month below 2777.5.. but we still were bearish (below 2909).. just less strong bearish. the bulls have a test at 2974.5 ... the target above it at 3009 may not happen (it does happen most times).. or it may just be a 26 pip wick and close below 2974.5.. i dont know......
that why i dont know if 2810 will happen like norm... another phenomenon is we made a lower low. (indicating lower) then we broke 2876... then went -50% to the current high.. sometimes on news spikes, this is all you get. it resumes to the target before news. anyway that one was 27008 with the mid at the low 2744... opposite of the 27008 is 2964.8... the mid of it at 2920.8... its acting as support for the flag..
those who can, do. those who cant, talk about those who can
  • #783,135
  • Apr 4, 2013 11:13pm Apr 4, 2013 11:13pm
Quoting KiwiTrada
my little brain can only hold so much. so i just trade what i see as happening more times then not. it works more then it doesn't. with central bank news it decreases. many times in a BS move the mofu will stop a new/old trend trying to form in its tracks. Sunday we did not close the month below 2777.5.. but we still were bearish (below 2909).. just less strong bearish. the bulls have a test at 2974.5 ... the target above it at 3009 may not happen (it does happen most times).. or it may just be a 26 pip wick and close below 2974.5.. i dont know......
Yes agreed. this boj move has screwed the eur/jpy charts big time and it even screwed 20% of my account yesterday. damm i was doing so well till wednesday until the tsunami named kurodasan came.


what do you think of aud/usd? it was behaving nicely till an insane 50 pip rally came overnight in us session
  • #783,136
  • Apr 4, 2013 11:30pm Apr 4, 2013 11:30pm
Quoting KiwiTrada
my little brain can only hold so much. so i just trade what i see as happening more times then not. it works more then it doesn't. with central bank news it decreases. many times in a BS move the mofu will stop a new/old trend trying to form in its tracks. Sunday we did not close the month below 2777.5.. but we still were bearish (below 2909).. just less strong bearish. the bulls have a test at 2974.5 ... the target above it at 3009 may not happen (it does happen most times).. or it may just be a 26 pip wick and close below 2974.5.. i dont know......
here is one.. look for a reason near 1.0440, but not over1.0500 ... when/if able lock in b.e.... target .0272/3...or let run to .9695 mid at .9921
Attached Image
those who can, do. those who cant, talk about those who can
  • #783,137
  • Apr 4, 2013 11:34pm Apr 4, 2013 11:34pm
damn, playing with EU is just like watching gay-porn
  • #783,138
  • Apr 4, 2013 11:37pm Apr 4, 2013 11:37pm
Quoting fifaman2009
damn, playing with EU is just like watching gay-porn
how often do you do that?
those who can, do. those who cant, talk about those who can
  • #783,139
  • Apr 4, 2013 11:37pm Apr 4, 2013 11:37pm
Quoting gatorinla
here is one.. look for a reason near 1.0440, but not over1.0500 ... when/if able lock in b.e.... target .0272/3...or let run to .9695 mid at .9921 {image}
Yen rise suddenly causing a spike in aussie. damm i was short @1.0406
  • #783,140
  • Apr 4, 2013 11:37pm Apr 4, 2013 11:37pm
Quoting fifaman2009
damn, playing with EU is just like watching gay-porn
And you know that how?
Not all sins are created equal
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