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EURUSD

  • #789,261
  • Apr 17, 2013 7:35pm Apr 17, 2013 7:35pm
going below thick kumo/cloud would mean 3022 on 5M. yes please.
----- Dragonfly out in the sun you know what I mean, don't you know
  • #789,262
  • Apr 17, 2013 7:36pm Apr 17, 2013 7:36pm
Quoting msetai
@vlady1974 at what point do you think im toast? i have set my tp to +2
Remind me where's your entry? I thought it was short at 30?
A pip is only worth it if you know how much you risked to earn it
  • #789,263
  • Apr 17, 2013 7:41pm Apr 17, 2013 7:41pm
Quoting msetai
@vlady1974 at what point do you think im toast? i have set my tp to +2
Either your SL or your TP first. If you're not sure, just close the trade at what you think will minimise loss based on current price.
A pip is only worth it if you know how much you risked to earn it
  • #789,264
  • Apr 17, 2013 7:41pm Apr 17, 2013 7:41pm
Quoting vlady1974
Remind me where's your entry? I thought it was short at 30?
lol yes it is but been in for at least 5 hours
  • #789,265
  • Apr 17, 2013 7:46pm Apr 17, 2013 7:46pm
Quoting msetai
lol yes it is but been in for at least 5 hours
Ok.. Then you must decide. Are you comfortable leaving it in, but risking your SL? Or are you willing to pay a fee and get your money out and get in later at a better price?

EDIT:
4H PP Is 30, R1 is 50.... Think about that, 20 pip premium on a short as opposed to waiting, which is free.
A pip is only worth it if you know how much you risked to earn it
  • #789,266
  • Apr 17, 2013 7:48pm Apr 17, 2013 7:48pm
Quoting vlady1974
Ok.. Then you must decide. Are you comfortable leaving it in, but risking your SL? Or are you willing to pay a fee and get your money out and get in later at a better price?
i think the latter, so i will try to exit at +1 or +2 then re-enter

if it doesnt hit my +1 or +2 that would just be really
  • #789,267
  • Apr 17, 2013 7:50pm Apr 17, 2013 7:50pm
Quoting vlady1974
Think about that, 20 pip premium on a short as opposed to waiting, which is free.
what do u mean by 20 pip premium?
  • #789,268
  • Apr 17, 2013 7:52pm Apr 17, 2013 7:52pm
Quoting msetai
i think the latter, so i will try to exit at +1 or +2 then re-enter if it doesnt hit my +1 or +2 that would just be really
My observation on your response is that you are hesitating on a 1 pip vs 2 pip profit, when you are clearly risk averse. I would just get out NOW. what happens to you if price just shot up to 55? Will you have the guts to pull the trigger and exit manually or will you wait until your -60 SL is hit?
A pip is only worth it if you know how much you risked to earn it
  • #789,269
  • Apr 17, 2013 7:58pm Apr 17, 2013 7:58pm
Quoting msetai
what do u mean by 20 pip premium?
The pivot point on 4H is 30. The R1 is 50. That's a 20 pip difference. You got in early, but you want to short it expecting price to go lower. Price has bottomed at 30, but your already in. Lots of views I've read show downside, but starting from 40 to 60.... 50 is in the middle. So if price did go up to 50, you are 20 pips under water. You are paying a premium. Google it if you don't understand.

If I wanted to short, and there was sentiment at 50, I would wait until 50 is hit then confirm an entry. Waiting is free vs paying a premium.
A pip is only worth it if you know how much you risked to earn it
  • #789,270
  • Apr 17, 2013 8:03pm Apr 17, 2013 8:03pm
Quoting vlady1974
The pivot point on 4H is 30. The R1 is 50. That's a 20 pip difference. You got in early, but you want to short it expecting price to go lower. Price has bottomed at 30, but your already in. Lots of views I've read show downside, but starting from 40 to 60.... 50 is in the middle. So if price did go up to 50, you are 20 pips under water. You are paying a premium. Google it if you don't understand. If I wanted to short, and there was sentiment at 50, I would wait until 50 is hit then confirm an entry. Waiting is free vs paying a premium.
got it, that makes perfect sense, im out at +2

thanks for all your help and insight man
  • #789,271
  • Apr 17, 2013 8:07pm Apr 17, 2013 8:07pm
Quoting sophiaphia
going below thick kumo/cloud would mean 3022 on 5M. yes please.

yes it did it. 3022 now, through the thick kumo/cloud. All signals come from 15M and confirm on the 5M.
----- Dragonfly out in the sun you know what I mean, don't you know
  • #789,272
  • Apr 17, 2013 8:12pm Apr 17, 2013 8:12pm
A fall below 200 MA suggests a top is in place...

 

  1. Normally hawkish ECB Weidman's comments has taken away bullish plank for EUR
  2. Weidman left door open for interest rate cut if upcoming data warrants it
  3. Previously EUR bid vs JPY and USD due to aggressive BOJ and Fed easing policy
  4. Support for EUR/USD at 1.2915/25 and break below would suggest top in place
  5. The 61.8 of the 1.2740/1.3202 move at 1.2915 and 200-day MA at 1.2925
  6. EUR/USD direction in Asia to be dictated by EUR/JPY flows

Trade smaller than rational because the market is irrational...
  • #789,273
  • Apr 17, 2013 8:31pm Apr 17, 2013 8:31pm
anyone notice / interested gold is doing another dump
If you are new to Forex? Say Goodbye to your account!!
  • #789,274
  • Apr 17, 2013 8:37pm Apr 17, 2013 8:37pm
Quoting KiwiTrada
anyone notice / interested gold is doing another dump
Yea buddy its on sale.

This is a post I made when another trader asked me about the buy levels in gold.

Here are those buy numbers from Stewart. I just got back and I had to do some digging to find the right newsletter and line item. The "chimps" are the Banksters

16. A range pgen between $1000-$2000, with a focus on $1923, $1800, $1577, $1432, $1305, $1266/$1225, $1105, and $1033, is exactly how the chimps would handle themselves in this market, if they were in your position now.
Trade smaller than rational because the market is irrational...
  • #789,275
  • Apr 17, 2013 8:43pm Apr 17, 2013 8:43pm
Interesting quote..."A gold top foreshadows a stock market drop; a stock market drop signals an economic descent, and an economic descent signifies the end of the sick status quo..."
Trade smaller than rational because the market is irrational...
  • #789,276
  • Apr 17, 2013 8:53pm Apr 17, 2013 8:53pm
Quoting KiwiTrada
anyone notice / interested gold is doing another dump
i just loged in and my broker gave sweet surprise

pending Long @ 1356.04 executed @ 1346.13
Mohan
  • #789,277
  • Apr 17, 2013 9:11pm Apr 17, 2013 9:11pm
Quoting mohan76
i just loged in and my broker gave sweet surprise pending Long @ 1356.04 executed @ 1346.13
GL bro

Gold like food is the ultimate asset. After 5000 years it has never gone to $0 unlike fiat and Nortel ect...

IMO gold revaluation will be used to satisfy the CDS derivative problem. Not QE. I think this is why CBs are buying/stealing what they can even if they have to force the weak hands out.

Got physical? I do...
Trade smaller than rational because the market is irrational...
  • #789,278
  • Apr 17, 2013 9:12pm Apr 17, 2013 9:12pm
Quoting KiwiTrada
anyone notice / interested gold is doing another dump

what abt gbp mate? looks like nice base formation has happened
  • #789,279
  • Apr 17, 2013 9:13pm Apr 17, 2013 9:13pm
Quoting mohan76
i just loged in and my broker gave sweet surprise pending Long @ 1356.04 executed @ 1346.13

so you mean u went in loss??
  • #789,280
  • Apr 17, 2013 9:14pm Apr 17, 2013 9:14pm
Quoting forex4india1
so you mean u went in loss??
executed @ 1346.13 now 1357.45 looks like a + to me
Trade smaller than rational because the market is irrational...
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