tick tock tick tock who is going to move this market
If you are new to Forex? Say Goodbye to your account!!
- #793,163
- Apr 30, 2013 10:59pm Apr 30, 2013 10:59pm
- Joined Aug 2009 | Status: Trader | 12,448 Posts
May 2012 4hr
for those who believe history might repeat, this is last years "May Selloff"
approx 1000 pips, but not right from May open, she popped 40 odd pips before retracing and setting the open as resist, the 2nd sign of maybe a sell off was the next weeks "gap", again after a resist had formed, this "gap" took nearly 3 months to close, pretty much bull got spanked all month
pa is ironically at a very similar level as this big bomb start point
and again late june to mid july another 600 odd pip spanking
history might not repeat, but if it do, woo hoo go the mighty "Bears"
for those who believe history might repeat, this is last years "May Selloff"
approx 1000 pips, but not right from May open, she popped 40 odd pips before retracing and setting the open as resist, the 2nd sign of maybe a sell off was the next weeks "gap", again after a resist had formed, this "gap" took nearly 3 months to close, pretty much bull got spanked all month
pa is ironically at a very similar level as this big bomb start point
and again late june to mid july another 600 odd pip spanking
history might not repeat, but if it do, woo hoo go the mighty "Bears"
If you are new to Forex? Say Goodbye to your account!!
- #793,164
- Apr 30, 2013 11:03pm Apr 30, 2013 11:03pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
May 2012 4hr for those who believe history might repeat, this is last years "May Selloff" approx 1000 pips, but not right from May open, she popped 40 odd pips before retracing and setting the open as resist, the 2nd sign of maybe a sell off was the next weeks "gap", again after a resist had formed, this "gap" took nearly 3 months to close, pretty much bull got spanked all month
I paid a big price for that.
So now I just look at the chart and not at history.
New voice message: Why are you calling me? If I need you, I'll call you!
- #793,165
- Apr 30, 2013 11:10pm Apr 30, 2013 11:10pm
- | Joined Apr 2013 | Status: SemiPro Trader with good MM | 893 Posts
May 2012 4hr for those who believe history might repeat, this is last years "May Selloff" approx 1000 pips, but not right from May open, she popped 40 odd pips before retracing and setting the open as resist, the 2nd sign of maybe a sell off was the next weeks "gap", again after a resist had formed, this "gap" took nearly 3 months to close, pretty much bull got spanked all month
- #793,166
- Apr 30, 2013 11:19pm Apr 30, 2013 11:19pm
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
{quote} cool! Do you have May 2011 chart?
New voice message: Why are you calling me? If I need you, I'll call you!
Bernard Baruch
- #793,173
- May 1, 2013 12:05am May 1, 2013 12:05am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
{quote} cool! Do you have May 2011 chart?
Again nice dump from open levels 400ish pips absolute spanking, bulls rallied then another 300ish pip spanking
May is not nice time for bulls, they did rally late May, but damage was done, bears had feasted
Killer Im not saying history will repeat, only if it does it seems to favour bears in May.
I didnt make up the saying, its been around a long time, if it works good if it dosnt so be it.
If you expected a decent rise or fall from a given level, surely you were taken out at "that" level or there abouts, if your level failed, and pa went against you, its not the levels fault or pa,s fault, my guess is you stayed rigid and chased pa, yup she would have gobbled your account
It is no different at any other time, you have a level of interest, you wait for pa to show signs your level is good, and you defend it, if pa goes other way,your level failed, and pa took out your stop game over account
safe, on to next level of interest
If you are new to Forex? Say Goodbye to your account!!
- #793,177
- May 1, 2013 12:20am May 1, 2013 12:20am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan 