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Trading EURUSD only

  • #43,301
  • Apr 22, 2013 7:44am Apr 22, 2013 7:44am
Chart Levels


http://www.forexfactory.com/attachme...1&d=1366641832
Trade smaller than rational because the market is irrational...
  • #43,302
  • Apr 22, 2013 7:46am Apr 22, 2013 7:46am
Quoting sypherBG
Cmon bulls have some faith in euro, look at this nice data coming out and push that pair to 1.32 so I can fall asleep happy tonight.
LOL
Trade smaller than rational because the market is irrational...
  • #43,303
  • Apr 22, 2013 7:50am Apr 22, 2013 7:50am
Quoting EuroTraderJD
{quote} I do have another short @1.2990 so I will rejoin the bear party there or higher than 1.3050. Have a long @48.
It will get their my friend. I think this is the return of the eurusd to continue going down in the bigger picture. Hell for all I know I might throw some more ammo in the party and add another short with you at 1.3.

By the way Thanks for the Vouch my friend....
Know when to hold em, Know when to fold em!
  • #43,304
  • Apr 22, 2013 8:00am Apr 22, 2013 8:00am
External Risks to E/U remain

The euro is overvalued against the dollar, James Wood-Collins, CEO of Record Currency Management said. The "existential risks" to the euro from the debt crisis have not disappeared and, if anything, the lack of fiscal and banking union is likely to hamper the euro's prospects, Wood said. Expectations of an ECB rate cut have been growing since the April meeting when Draghi said the bank stood "ready to act" to boost growth in the euro zone.
Trade smaller than rational because the market is irrational...
  • #43,305
  • Apr 22, 2013 8:03am Apr 22, 2013 8:03am
Quoting goods
{quote} It will get their my friend. I think this is the return of the eurusd to continue going down in the bigger picture. Hell for all I know I might throw some more ammo in the party and add another short with you at 1.3. By the way Thanks for the Vouch my friend....
Yes it looks like it might. I dont sweat it anymore where the price might go.... I just react. It sure beats analysis paralysis..

You are welcome bro you deserved it for posting truth and common sense.
Trade smaller than rational because the market is irrational...
  • #43,306
  • Apr 22, 2013 8:17am Apr 22, 2013 8:17am
Quoting EuroTraderJD
{quote} Yes it looks like it might. I dont sweat it anymore where the price might go.... I just react. It sure beats analysis paralysis.. You are welcome bro you deserved it for posting truth and common sense.
haha so true it does beat analysis paralysis. It is so much ore simple than that. I just do what the market does.. KISS (Keep it stupid simple)...
Know when to hold em, Know when to fold em!
  • #43,307
  • Apr 22, 2013 8:18am Apr 22, 2013 8:18am
I've had enough ... closed that long -46 pips ... that is a BAD start of the week ... entered short @ 1.30260 and if it goes to 1.31250 now I'll ... I'll ... I'll turn off my PC
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,308
  • Apr 22, 2013 8:18am Apr 22, 2013 8:18am
Quoting goods
{quote} KISS (Keep it simple stupid )...
AMEN more golden advice.
Trade smaller than rational because the market is irrational...
  • #43,309
  • Apr 22, 2013 8:26am Apr 22, 2013 8:26am
What already? ITALY PRESIDENT NAPOLITANO THREATENS TO RESIGN IF POLITICIANS FAIL TO MEET RESPONSIBILITIES ON REFORMS. Needs his nap
Trade smaller than rational because the market is irrational...
  • #43,310
  • Apr 22, 2013 8:26am Apr 22, 2013 8:26am
Quoting sypherBG
I've had enough ... closed that long -46 pips ... that is a BAD start of the week ... entered short @ 1.30260 and if it goes to 1.31250 now I'll ... I'll ... I'll turn off my PC
Ok Sypher, I want to help you out. What is your trading plan, and post me a picture of what your system looks like and tell me about it. Lets start off from the root of the concern.
Know when to hold em, Know when to fold em!
  • #43,311
  • Apr 22, 2013 8:30am Apr 22, 2013 8:30am
Quoting EuroTraderJD
{quote} AMEN more golden advice.
gotta say: very nice falling channel formed by high from friday and today's local around 0310 est... utl and ltl very well respected. another factor: have one of those days with no really bad news; too many people thinking same thing for variety of reasons, that it has to turn around. not what happens, most cases.
  • #43,312
  • Apr 22, 2013 8:30am Apr 22, 2013 8:30am
EUR Tech trader I follow

Short @67

Short came close to the recent range lows by 1.3000 today. A scraggly looking topping formation is threatened with daily Slow Stochs having rolled over and the upper 21-day Bolli rejecting recent range highs. A break below the 21-DMA, last by 1.2970, would signal a slide toward the lower 21-day Bolli just below our target.
Trade smaller than rational because the market is irrational...
  • #43,313
  • Apr 22, 2013 8:31am Apr 22, 2013 8:31am
Quoting 1candlepower
{quote} gotta say: very nice falling channel formed by high from friday and today's local around 0310 est... utl and ltl very well respected. another factor: have one of those days with no really bad news; too many people thinking same thing for variety of reasons, that it has to turn around. not what happens, most cases.
AGREED on the channel.

Herd mentality for sure
Trade smaller than rational because the market is irrational...
  • #43,314
  • Apr 22, 2013 8:40am Apr 22, 2013 8:40am
My long @48 is starting to smile.

Glad I didnt use a SL.

30M PA may provide demand zone at 43 so We will see if it turns to green pips on a blast through

Also glad that I followed the MM Price Saturation Zone and didnt add another short on top of the one I have @1.2990. Even though the indos at the time said Ms Market is going down. She ALWAYS laughs at what I think and sometimes plays tricks on the indos.

MM is the only constant...
Trade smaller than rational because the market is irrational...
  • #43,315
  • Apr 22, 2013 8:46am Apr 22, 2013 8:46am
THINKING about a short here. Even though indos go with long.

HSR @50 is tough cookie and indos are always backward looking.
Trade smaller than rational because the market is irrational...
  • #43,316
  • Apr 22, 2013 8:49am Apr 22, 2013 8:49am
If I had enough pips locked in, I would put on a new short here at 3048 but no can do right now.
Know when to hold em, Know when to fold em!
  • #43,317
  • Apr 22, 2013 9:08am Apr 22, 2013 9:08am
EURUSD Bullish Engulfing Hourly Chart

http://www.myfxideas.com/wp-content/...fingHourly.gif

Resistance: 1.3056 strong / 1.3091 moderate / 1.3131 minor
Support: 1.3015 moderate / 1.2981 minor / 1.2940 minor

Market bias for EURUSD is bearish with prices under a strong resistance at 1.3056. Hourly candlesticks however have a mid level reversal pattern, Bullish Engulfing. Look for a close above the Pivot Point, 1.3056, for a run to 1.3091 with stop losses just below the patterns low. Break of 1.3091 could lead to a market rally for 1.3131.
Trade smaller than rational because the market is irrational...
  • #43,318
  • Apr 22, 2013 9:10am Apr 22, 2013 9:10am
Quoting goods
If I had enough pips locked in, I would put on a new short here at 3048 but no can do right now.
I am waiting too bro.

Watching the 1M chart for precise entry along with RSI3 got to have 2. PA is above the 5SMA and usually that is a NO NO to go short.

50 is tough here
Trade smaller than rational because the market is irrational...
  • #43,319
  • Apr 22, 2013 9:18am Apr 22, 2013 9:18am
Attached Image (click to enlarge)
Click to Enlarge Name: goods.jpg Size: 245 KB


goods I use MA crossings (used to be 16 & 48, but recently I switched them to 5 & 15), + RSI and stochastic.
When slow line (MA15) goes bellow fast line (MA5) and RSI is above 50 the system raises a Buy signal, I check with stoch and if they are in same direction I will consider this as entry point If what I see on higher time frames can be also read as Up movement. If I read overall downtrend I will wait for the reversed version of the described above and will sell ... If I see it is ranging from here to there more than twice today I sell when its high and buy when its low....what else ... oh yes CCI is also used as indicator ... if it goes from above 100 to lower levels I usually see it as a sell, and if it climbs from bellow -100 I read it as buy signal.

Thank you for helping me on this one buddy.
Mind you, my first name is Bad. ..."Nunc Id Vides, Nunc Ne Vides"...
  • #43,320
  • Apr 22, 2013 9:28am Apr 22, 2013 9:28am
Short @46

Reason:

PA dropped below 5 SMA RSI3 under 50

Also HSR at 50 is tough.

Still have long @48 so Ms Market can pip me either way....
Trade smaller than rational because the market is irrational...
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