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  • #786,901
  • Apr 12, 2013 7:03am Apr 12, 2013 7:03am
Quoting EuroTrader
I work only on daily and hour frame ... we will have a bull next week
Oh I know... but I mis-timed it.. Thought it would start today because Asia low wasn't tested..... but then it was at 7AM.
But yes, I'm BULL looking for 3190 for BEAR
A pip is only worth it if you know how much you risked to earn it
  • #786,902
  • Apr 12, 2013 7:04am Apr 12, 2013 7:04am
Quoting vlady1974
LOL... The Weekly Bull not dead. Today's Bull Yes...
Weekly bull needs to close above ,303 to become monthly bull. This is critical point. So, if todays bull is dead, we may enter chop zone, or even resume monthly bear. Dont like that.

edit: lol my BE served as support . Lucky it wasnt in place.
"I know one thing, that I know nothing." Sokrates
  • #786,903
  • Apr 12, 2013 7:06am Apr 12, 2013 7:06am
Quoting vlady1974
3000s are definitely possible now. It's a 120 pip drop which is actually not a surprise. I read it wrong though... and I will never place a trade before 7am GMT anymore! {image}
crazy Friday, with frankie being backed by london..
naah, mate, tokyo played it nicely today did not get the whole move, nvm..

are you expecting a retrace to 3080 1st?
  • #786,904
  • Apr 12, 2013 7:06am Apr 12, 2013 7:06am
Quoting Tom_D_Trader
Weekly bull needs to close above ,303 to become monthly bull. This is critical point. So, if todays bull is dead, we may enter chop zone, or even resume monthly bear. Dont like that.
5mn bulls are well alive!

Thanks for them we may head high above 1,3110

But the news could mess everything up

ps : i don't like the fact price didn't go below 45 after the 70 rejection
COT: The precious data ignored
  • #786,905
  • Apr 12, 2013 7:07am Apr 12, 2013 7:07am
Quoting vlady1974
Oh I know... but I mis-timed it.. Thought it would start today because Asia low wasn't tested..... but then it was at 7AM. But yes, I'm BULL looking for 3190 for BEAR
If USA open in correction we will have extra down because they will want to protect all their week gain.
Attached Image (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 385 KB
  • #786,906
  • Apr 12, 2013 7:08am Apr 12, 2013 7:08am
would this be a horrible area to scalp short it?
  • #786,907
  • Apr 12, 2013 7:09am Apr 12, 2013 7:09am
Quoting Tom_D_Trader
Weekly bull needs to close above ,303 to become monthly bull. This is critical point. So, if todays bull is dead, we may enter chop zone, or even resume monthly bear. Dont like that.
You'r right there. I think this is what was throwing me and few others off..... the 3000 is at the H/S type pattern on the weekly that makes for an ambiguous area. It's possible to argue for continuation of Weekly Bear or New Weekly Bull @ 3000ish.
A pip is only worth it if you know how much you risked to earn it
  • #786,908
  • Apr 12, 2013 7:10am Apr 12, 2013 7:10am
Quoting msetai
would this be a horrible area to scalp short it?
if you are a scalper then you should already know the answer to that. Scalping is the hardest thing you can do, so if you don't know don't do it.
  • #786,909
  • Apr 12, 2013 7:11am Apr 12, 2013 7:11am
Quoting msetai
would this be a horrible area to scalp short it?
don't short unless you think bad retail is coming.
"You're solid gold, see you in hell"
  • #786,910
  • Apr 12, 2013 7:11am Apr 12, 2013 7:11am
Quoting kuroro001
5mn bulls are well alive!
God bless m5 .

Yeah, m5 and m1 look like we may be picking speed up, but it is really pain.

edit:
Quoting kuroro001
ps : i don't like the fact price didn't go below 45 after the 70 rejection
why dont you like that?
"I know one thing, that I know nothing." Sokrates
  • #786,911
  • Apr 12, 2013 7:13am Apr 12, 2013 7:13am
Quoting SugarPink
don't short unless you think bad retail is coming.
that makes no sense at all - the data is US data so if it is bad and the market alters because of it the chances are the EU will go up not down
  • #786,912
  • Apr 12, 2013 7:13am Apr 12, 2013 7:13am
Quoting MaxDoom
if you are a scalper then you should already know the answer to that. Scalping is the hardest thing you can do, so if you don't know don't do it.
reason i was asking was because of all the news coming out in the us today
  • #786,913
  • Apr 12, 2013 7:15am Apr 12, 2013 7:15am
Quoting Tom_D_Trader
God bless m5 . Yeah, m5 and m1 look like we may be picking speed up, but it is really pain. edit: why dont you like that?
Failed to move higher sadly.

Possibly a new low before going up. I'll wait for another 5mn bullish setup
COT: The precious data ignored
  • #786,914
  • Apr 12, 2013 7:15am Apr 12, 2013 7:15am
Quoting msetai
would this be a horrible area to scalp short it?
It's triangulating so it's a good breakout pattern if you're scalping.
Here's the 5M view
Attached Image
A pip is only worth it if you know how much you risked to earn it
  • #786,915
  • Apr 12, 2013 7:17am Apr 12, 2013 7:17am
Long @ 60

Reason
10M 5 x 15 and PA popped above

10M RSI3 over 50

30M PA not near HSR or Fibs

No SL TP open to what Ms Market gives. usually exit when PA drops below 5 SMA with an eye on RSI3 going under 50
Trade smaller than rational because the market is irrational...
  • #786,916
  • Apr 12, 2013 7:17am Apr 12, 2013 7:17am
Quoting vlady1974
It's triangulating so it's a good breakout pattern if you're scalping. Here's the 5M view {image}
yes this is what i was seeing as well, but can't decide if getting in before news is bad or good idea today, since there is so much coming out in the next 4 hours....
  • #786,917
  • Apr 12, 2013 7:17am Apr 12, 2013 7:17am
Quoting Tom_D_Trader
. edit: why dont you like that?
Because that's the way eurusd works to me...based on swings.

It went up when it was bought at 43-45, i was expecting big boys to clean that area before a potential reversal.
COT: The precious data ignored
  • #786,918
  • Apr 12, 2013 7:17am Apr 12, 2013 7:17am
gold getting dumped ...... 1534 may be its on its way to gator 1509
Mohan
  • #786,919
  • Apr 12, 2013 7:18am Apr 12, 2013 7:18am
Quoting EuroTrader
If USA open in correction we will have extra down because they will want to protect all their week gain. {image}
I took that view mid morning here in London. Frankly I was trying to find the right justification for a trade to hedge my longs.
So if US opens in this move and NYC continues it, then I'll have IN-MONEY options expiring just ready for dinner tonight!
A pip is only worth it if you know how much you risked to earn it
  • #786,920
  • Apr 12, 2013 7:19am Apr 12, 2013 7:19am
Quoting MaxDoom
that makes no sense at all - the data is US data so if it is bad and the market alters because of it the chances are the EU will go up not down
AMEN it is a bad policy to trade the news on what you think the news might be.

It just bad to trade on what you think. I trade on what I see.

I believe in FA but execute trades based on TA

News is a catalyst
Trade smaller than rational because the market is irrational...
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