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  • #796,901
  • May 12, 2013 4:35pm May 12, 2013 4:35pm
Quoting wtk
First of all , Hello everyone. I'm new on this market and this is a little bit strange for me. Last week i did a huge mistake. I've started trade for my first time , and i trade on euro/usd. Of course i didn't know all the information and that was a wrong ideea. I buyed at 1.32304 and now it's 1.29890.. my account is gooing down because of my bad experience on this. So give me an advice.. What to do? Sell this even it's a big loss? it's a risk to loss everything ?? i don't now what to do.. Thank you and have a wonderful day.
who knows!?
month chart could be a good buy now!
  • #796,902
  • Edited 4:47pm May 12, 2013 4:35pm | Edited 4:47pm
Quoting Cornelis
Short on the open with a 100pip SL and prfit target of 100 to 300 pips
GL. Am buying the foker despite 5 pips spread. I see 100 pips short likely, but not much more. 200 pips short would be attempting to break lows, which would be very dangerous.

Edit: 3,9 pips now. I could use Tokyo.
"I know one thing, that I know nothing." Sokrates
  • #796,903
  • May 12, 2013 4:51pm May 12, 2013 4:51pm
Quoting Tom_D_Trader
{quote} GL. Am buying the foker despite 5 pips spread. I see 100 pips short likely, but not much more. 200 pips short would be attempting to break lows, which would be very dangerous. Edit: 3,9 pips now. I could use Tokyo.
I actualy ust noticed a much better uptrend setup, wil post it now. So will probably change my mind. Depending on where My daily bar closes today
  • #796,904
  • May 12, 2013 5:04pm May 12, 2013 5:04pm
The reason why I prefer the up trend over the downtrend even though my first method is bearish.

My setup conditions are :

40 day moving avg must be greater than 5 days ago - Check
The LL of the last 10 days is higher than the LL of the past 35 days - Check
My 3 day MA bassed on the low has turned down any time in the last 5 days - Check
My HH of the last 3 days must be less than the HH of the past 10 days - Check

My ADX must be greater than 16000 - Check

Ill be going long at HH3 + 1% with 100 pip SL or the previous days low wichever is less.

All my setup conditions for Bull is met.

Hoping to take 300 pips + if this plays out.

Id like to hear your comments...
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  • #796,905
  • May 12, 2013 5:09pm May 12, 2013 5:09pm
Quoting KillerWhale
{quote} Don't understand all this bull talk. Support after support was broken Friday. But it's not my problem, I'll be trading mostly yen pairs this week.
Yep I agree, although I would have preferred a higher open today, bulls have taken a bashing, traders were looking for the sky, man their accounts must be hurting, and yet still we have shooting to the sky dreams

agreed some prs @ their supports some just below, problem is momentum is still with the bears, so my guess if these supports dont hold, we may have another nasty week for the bulls, actually maybe a big big big surprise in store

data day starts tomorrow, I have not much desire t trade today
If you are new to Forex? Say Goodbye to your account!!
  • #796,906
  • May 12, 2013 5:15pm May 12, 2013 5:15pm
My goal is still 1.2750
New voice message: Why are you calling me? If I need you, I'll call you!
  • #796,907
  • May 12, 2013 5:16pm May 12, 2013 5:16pm
Quoting Cornelis
Id like to hear your comments... {image}
Well, I was honestly really looking forward for that bullish setup, as all my charts are saying short.

Anyway, thats just a normal technical setup. If you backtested it and it works, why not? I dont actually understand to condition of 3 days HH beeing lower than 10 days HH. Lower high isnt actually bullish. Never tested ADX, so cant say anything to it. Regarding MAs, you can use almost all of them. MAs are the most usefull and simple indicator developed, as all they do is smoothing the market. So why not to use them in trade setup huh? I dont do that though.

Would like to help, but I actually aint that much into technical setups.

T
"I know one thing, that I know nothing." Sokrates
  • #796,908
  • May 12, 2013 5:21pm May 12, 2013 5:21pm
Quoting darimik
{quote} chazzle, long time no speak. I am surrounded by arsenal and man utd fans, but I havent picked a team . given that ive been to an arsenal game, I am leaning towards that how are you? how is the pip chase going ?
going ok mate - re-sharpened the scalpel. You're in London, better go with the Gunners - hope you're good
  • #796,909
  • May 12, 2013 5:23pm May 12, 2013 5:23pm
Quoting KiwiTrada
problem is momentum is still with the bears,
Y, gotta hate that. Anyway, remember me talking about that 2010 cycle which behaved simmilar and was 5 waves? Before the wave fith occured and brought us to 1,49, we had a minitrend down of about 120%. Looked like a break down. And then wave fith occured. If this was simmilar case, we could see break of the lows down to 1,265, followed by surge up to 1,4. It is just mumbo jumbo anyway, but interesting stats.
"I know one thing, that I know nothing." Sokrates
  • #796,910
  • May 12, 2013 5:28pm May 12, 2013 5:28pm
Talking bout that blue circle.
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"I know one thing, that I know nothing." Sokrates
  • #796,911
  • May 12, 2013 5:48pm May 12, 2013 5:48pm
Ok, I have seen enough. Seems Weekly candle is facked and we are gonna have bearish start of the week, since all technical traders will be short. Combined with Yen rally, well, doesnt seem like I am going to have a good week.

Cya @ LO,

T
"I know one thing, that I know nothing." Sokrates
  • #796,912
  • May 12, 2013 5:54pm May 12, 2013 5:54pm
Well, I think eur/usd, gold, aud/usd and especially gbp/usd will go up this week. On gbp/usd also is channel at bottom on daily, so... with little sl. you can slack a lot risk/reward 1:3, 1:6...
  • #796,913
  • May 12, 2013 6:01pm May 12, 2013 6:01pm
Strong Divergence on 1h TF
  • #796,914
  • May 12, 2013 6:02pm May 12, 2013 6:02pm
Exactly.
  • #796,915
  • May 12, 2013 6:16pm May 12, 2013 6:16pm
I saw on Daily too, but this seems to be a very strong trend! who knows...
  • #796,916
  • Edited 6:50pm May 12, 2013 6:39pm | Edited 6:50pm
Quoting dsncorp
Strong Divergence on 1h TF
Higher time frames always prevail, NO divergence on the 4 hour and daily.
Friday the bullish channel was broken downwards, it tried to re-enter the channel but was rejected,
Daily has lower lows, lower highs.

This is a model picture for bears at the moment.

Besides that, the bearish rising wedge from last weeks is not finished yet.
It will be finished @ 1.2750.

Last Friday we broke 2 trend line supports and 4 horizontal supports.
MACD, Stock and QQE and Momentum, all pointing down,

And there are still people saying it's bullish.
Attached Image
New voice message: Why are you calling me? If I need you, I'll call you!
  • #796,917
  • May 12, 2013 6:41pm May 12, 2013 6:41pm
Quoting KillerWhale
{quote} Higher time frames always prevail, NO divergence on the 4 hour and daily. Friday the bullish channel was broken downwards, it tried to re-enter the channel but was rejected, Daily has lower lows, lower highs. This is a model picture for bears at the moment. Besides that, the bearish rising wedge from last weeks is not finished yet. It will be finished @ 1.2750. Last Friday we broke 2 trend line supports and 3 horizontal supports. MACD, Sock and QQE, all pointing down, And there are still people saying it's bullish. {image}
So I'd like to ask the bulls:

What in the above chart is bullish?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #796,918
  • May 12, 2013 6:42pm May 12, 2013 6:42pm
EJ M15

trying a counter ...
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  • #796,919
  • May 12, 2013 6:47pm May 12, 2013 6:47pm
Quoting KillerWhale
{quote} So I'd like to ask the bulls: What in the above chart is bullish?
I can't find a single thing!
New voice message: Why are you calling me? If I need you, I'll call you!
  • #796,920
  • May 12, 2013 6:50pm May 12, 2013 6:50pm
Quoting KillerWhale
{quote} Higher time frames always prevail, NO divergence on the 4 hour and daily. Friday the bullish channel was broken downwards, it tried to re-enter the channel but was rejected, Daily has lower lows, lower highs. This is a model picture for bears at the moment. Besides that, the bearish rising wedge from last weeks is not finished yet. It will be finished @ 1.2750. Last Friday we broke 2 trend line supports and 3 horizontal supports. MACD, Stock and QQE, all pointing down, And there are still people saying it's bullish. {image}
You're right.

USD seems to be strengthening,

taking Aussie under parity just now,

USD/JPY over 1.02

EURUSD under 1.30

Will be an interesting 3 months

eyeing 1.25 with H&S on EUR/USD
Even the worst trade can close with profit. Just give it time.
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