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  • #786,061
  • Apr 10, 2013 4:49pm Apr 10, 2013 4:49pm
Damn guys I was watching bitcoin crash .. it was dope. What a magnificent experience it was. Learned a lot.
It was needed and healthy. Rich kids were speculating too much on it, now with them out of the way its way better.
"You're solid gold, see you in hell"
  • #786,062
  • Apr 10, 2013 4:49pm Apr 10, 2013 4:49pm
Quoting Likerty
I see 78 as last impulse point and 76 as last broken PA level in previous consolidation area. So these are my bull/bear reference points...
also watching bull/bear decision process in tl viewpoint... .eu currently trying to simultaneously respect falling upper tl from this morning and rising "april fool's" tl from yest lo.

she'll have make decision within short time
  • #786,063
  • Apr 10, 2013 4:51pm Apr 10, 2013 4:51pm
Hello everyone... I'm new here in this forum. Hope to learn from you guys. Cheers!
  • #786,064
  • Apr 10, 2013 5:01pm Apr 10, 2013 5:01pm
Bailed on the long @67 for +1 looks weak here
Have an existing long @ 1.3093

Got an existing short @ 1.3052
Trade smaller than rational because the market is irrational...
  • #786,065
  • Edited 5:41pm Apr 10, 2013 5:11pm | Edited 5:41pm
The breakout out levels looks like 1.3072 (long) and 1.3064 (short) for short period trading (M5 chart TP 5pips). Any advise?
  • #786,066
  • Apr 10, 2013 6:10pm Apr 10, 2013 6:10pm
It does not matter where you stand. As long as the bus hits you.
  • #786,067
  • Apr 10, 2013 6:15pm Apr 10, 2013 6:15pm
usd/jpy next big resistance is at 101.548xx.xx mabbe 10 pips "+" or "-"..
  • #786,068
  • Apr 10, 2013 6:18pm Apr 10, 2013 6:18pm
Quoting RonForest
The breakout out levels looks like 1.3072 (long) and 1.3064 (short) for short period trading (M5 chart TP 5pips). Any advise?
The safer short breakout is 52.5 (swing low) on the 5M. Otherwise, it's not really a breakout for the TP that you're after.
Technically it is a "breakout" but for 5 pips, all you are doing is breaking out of one minor level for 1/4 of an average move (20 pips).

Most traders will consider a breakout to give at least 50-100 pips, on a daily candle. That's eight 1H bars or two 4H bars, etc.
So when "breaking out" you really want the price to bust that ass real good... and the only way you can learn to do that is to learn to draw trendlines at the right levels:

a) tops / bottoms (obvious)
b) diagonals / parallels

and then also consider the pip distance between these TLs. EU moves in 19-20 pip moves. Over the last 12-18 months, it's reverted fractals of 50 (ie.25)....
So back to your breakouts of 72 and 64... why don't you set a more ambitious TP of 72 + 10 or 64 - 10. If you read some of the posts, you'll get excellent levels suggested by the magic men and women of EUR FF. Gator's are always good and thought provoking, as are Max Doom's.

Even if you are a 5 pip scalper... having sight of these longer term levels can enhance your scalping strategy.

Forgive my pre bedtime rant.
Green pips to you.
A pip is only worth it if you know how much you risked to earn it
  • #786,069
  • Apr 10, 2013 6:36pm Apr 10, 2013 6:36pm
Ok.. applying the Merlin Breakout system for the 3rd Day running.

10PM to 12AM GMT.
HI = 73.3
LO = 64.7
Current Price 59.2

If at 7am GMT, price < 64.7 by up to a max 60 pips and Price Action suggests strong buying zones (eg. 3000, 3040) then LONG for the day.
If at 7am GMT, price > 73.3 by up to a max 50 pips and Price has retraced, look to LONG
If at 7am GMT, price > 73.3 but not exceeded prev day HI of 122.2 and Price has retraced, look to SHORT

Let's see what happens at Frankie open.

Good night.
A pip is only worth it if you know how much you risked to earn it
  • #786,070
  • Apr 10, 2013 6:46pm Apr 10, 2013 6:46pm
Hi Guys some food for thought,

kiwi daily charts
1. Note the red line, that is the highest this girls ever been, presently tapping previous resistance (arrow) and 3 rising channels printed, each one printing at a lessor degree / angle ,
Right now she is tapping the previous high and utl of the rising channel
2. zoomed in with just prsent channel

I think she is at good levels to start looking for bull weakness, this could be a good medium even long term trade opportunity, with very good r/r
Remembering she is twin sister to aussie and we have good aussie data in 2hrs and again 30 mins later

This dosnt mean she going to drop like a rock, its more about probabilities

Trade safe trade wise
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Kiwi Daily a.png Size: 139 KB
Click to Enlarge Name: Kiwi Daily b.png Size: 117 KB
If you are new to Forex? Say Goodbye to your account!!
  • #786,071
  • Apr 10, 2013 7:25pm Apr 10, 2013 7:25pm
Quoting vlady1974
The safer short breakout is 52.5 (swing low) on the 5M. Otherwise, it's not really a breakout for the TP that you're after. Technically it is a "breakout" but for 5 pips, all you are doing is breaking out of one minor level for 1/4 of an average move (20 pips). Most traders will consider a breakout to give at least 50-100 pips, on a daily candle. That's eight 1H bars or two 4H bars, etc. So when "breaking out" you really want the price to bust that ass real good... and the only way you can learn to do that is to learn to draw trendlines at the...
Thank you so much for your advise. I'm still very new to forex trading. Have great evening...
  • #786,072
  • Apr 10, 2013 7:35pm Apr 10, 2013 7:35pm
feels like a friday after 5 pm est...here... 42 traders viewing now, 13 are members
  • #786,073
  • Apr 10, 2013 7:53pm Apr 10, 2013 7:53pm
morning...


damn, kiwi. I thought abt buying nzd 2 days ago. decided not to, couldn't handle another pair. watching eu, uj, ej, gu, and gj. not just watching, not trading ej for sure
  • #786,074
  • Apr 10, 2013 8:01pm Apr 10, 2013 8:01pm
Quoting ec_creep
morning... damn, kiwi. I thought abt buying nzd 2 days ago. decided not to, couldn't handle another pair. watching eu, uj, ej, gu, and gj. not just watching, not trading ej for sure
hello mr creep, mr kiwi, mr snave, mr mohan, mr ron, still open positions for gu....long way to go now
  • #786,075
  • Apr 10, 2013 8:06pm Apr 10, 2013 8:06pm
Quoting gatorinla
5 is 3040 6 3006 7 2999 8 2988 9 2976 10 3050 gaps bigger after 11 2917 12 2898 13 2878
10 is a typo,, 2950 correct..
3040 is next.. s/l above 3061... mid at 3054... no bulls w/o 3061.9+
those who can, do. those who cant, talk about those who can
  • #786,076
  • Apr 10, 2013 8:08pm Apr 10, 2013 8:08pm
Chinese data released (unshedule)

11:01amCNY
New Loans
1060B890B620B


CNY
M2 Money Supply y/y
15.7%14.8%15.2%
Mohan
  • #786,077
  • Apr 10, 2013 8:10pm Apr 10, 2013 8:10pm
Quoting LeeNoa
hello mr creep, mr kiwi, mr snave, mr mohan, mr ron, still open positions for gu....long way to go now
morning...
not trading gu here, only monitoring that for my gj.
  • #786,078
  • Apr 10, 2013 8:10pm Apr 10, 2013 8:10pm
Quoting mohan76
Chinese data released (unshedule) 11:01amCNY New Loans 1060B890B620B CNY M2 Money Supply y/y 15.7%14.8%15.2%
They trying to push AU
  • #786,079
  • Apr 10, 2013 8:13pm Apr 10, 2013 8:13pm
Quoting ec_creep
morning... damn, kiwi. I thought abt buying nzd 2 days ago. decided not to, couldn't handle another pair. watching eu, uj, ej, gu, and gj. not just watching, not trading ej for sure
mm I tried to short her and got stopped, she really behaving like a teflon tiger, but what goes up have to come down, law of gravity


higher timeframes dailly weekly monthly she is in her upper zone, bro sell high buy low both her and aussie just do a sucker pump after I post, same scenario as eu the other day, sucker drivei into resist ping pong to take out weak shorts and pick up early longs, then fall "maybe" eu seems to be playing out now, mmm got to be patient bro see if they follow eu and swissy

fuk ff just changed china and aussie release times , bbl bro
If you are new to Forex? Say Goodbye to your account!!
  • #786,080
  • Apr 10, 2013 8:14pm Apr 10, 2013 8:14pm
Quoting LeeNoa
hello mr creep, mr kiwi, mr snave, mr mohan, mr ron, still open positions for gu....long way to go now
good morning LeeNoa,
i am waiting for aussie data to take my trade, next time just call mohan , tag "mr" create distance
Mohan
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