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  • #797,321
  • May 14, 2013 12:48am May 14, 2013 12:48am
Quoting The_Roman
Watch out...1.3030 is very strong resistance. check it out on H4 and D1.
Thank you.
.1 lot ; I'm a minnow swimming with the sharks...
  • #797,322
  • May 14, 2013 12:50am May 14, 2013 12:50am
Quoting nathaniel
{quote} approaching 3003 minor support. wonder if it will hold
Trying to break minor support.. hmmm let's see
  • #797,323
  • May 14, 2013 1:01am May 14, 2013 1:01am
Quoting nathaniel
{quote} Trying to break minor support.. hmmm let's see
bro I dont know how long you have been trading, but to call 3003 which is effectively 1.3000 a minor support, mmm open up a weekly chart you will see it has been excellent support and pretty good resist back to 2004, it is actually a really strong level for lots of reasons
If you are new to Forex? Say Goodbye to your account!!
  • #797,324
  • May 14, 2013 1:02am May 14, 2013 1:02am
Quoting The_Roman
Watch out...1.3030 is very strong resistance. check it out on H4 and D1.
i think strong resistant would be 1.3050
Everything in the world has its own rhytms
  • #797,325
  • May 14, 2013 1:08am May 14, 2013 1:08am
Quoting KiwiTrada
{quote} bro I dont know how long you have been trading, but to call 3003 which is effectively 1.3000 a minor support, mmm open up a weekly chart you will see it has been excellent support and pretty good resist back to 2004, it is actually a really strong level for lots of reasons
Agreed. guess i said minor cos i was looking at it based on h1 only
  • #797,326
  • May 14, 2013 1:28am May 14, 2013 1:28am
Quoting KiwiTrada
{quote} bro I dont know how long you have been trading, but to call 3003 which is effectively 1.3000 a minor support, mmm open up a weekly chart you will see it has been excellent support and pretty good resist back to 2004, it is actually a really strong level for lots of reasons

when your hulk bear wake up all the support turn into minor support
waiting zew , might take few scalping before
Mohan
  • #797,327
  • May 14, 2013 1:29am May 14, 2013 1:29am
Quoting Murdetrain
{quote} Based my trading on the news reports, and bearish outlook that people were forecasting. I mean all the releases(retail, etc.) were in favor of USD but I guess not :/
Trading on news report ? Wrong !
Trading news works on long term (but you have to be good), trading intraday news will make you lose more than not.
And bearish outlook people were forecasting....which people ? If it's from here, forget about it, most of us are wrong. If it's from websites, forget it most of them are wrong.

Stick to your chart.

And for you position nobody knows if it is heading back to your area. It's up to you to close it or let it open with the hope of another move down.

GL
COT: The precious data ignored
  • #797,328
  • May 14, 2013 1:35am May 14, 2013 1:35am
Hi

Totally agree with kuroro001!

Have a nice day
  • #797,329
  • May 14, 2013 1:36am May 14, 2013 1:36am
No serious drop that will form a downtrend will go witouth retesting previsious lvls. So my money is on retested 1.303 and go down again.
  • #797,330
  • May 14, 2013 1:45am May 14, 2013 1:45am
Quoting kuroro001
{quote} Trading on news report ? Wrong ! Trading news works on long term (but you have to be good), trading intraday news will make you lose more than not.
just him, or does that apply to everyone?
  • #797,331
  • May 14, 2013 1:49am May 14, 2013 1:49am
Quoting chazzle
{quote} just him, or does that apply to everyone?
Trading news with EU is a tricky stuff, with the yen it's another story.

It's my own opinion, it's not an advice to stop as i don't really mind what others are doing, but to me it implies everyone.

Now if you can prove me trading intradays news work, without looking at a chart (too easy if you look at levels) i'll change my opinion.

I only believe what i see
COT: The precious data ignored
  • #797,332
  • May 14, 2013 1:51am May 14, 2013 1:51am
Quoting kuroro001
{quote} Trading on news report ? Wrong ! Trading news works on long term (but you have to be good), trading intraday news will make you lose more than not. And bearish outlook people were forecasting....which people ? If it's from here, forget about it, most of us are wrong. If it's from websites, forget it most of them are wrong. Stick to your chart. And for you position nobody knows if it is heading back to your area. It's up to you to close it or let it open with the hope of another move down. GL
Initial impulse after the news can be very tradable, but numbers must be unexpected...I'm always looking for highs and lows in data of the past 12 months, and if these are reached and especially if direction coincides with technicals...
69
  • #797,333
  • May 14, 2013 1:51am May 14, 2013 1:51am
Stops above 1.3016 and 1.3019 has been taken. IMO it is building to go down. I am waiting for SHORT signal with target below 1.2935.
  • #797,334
  • May 14, 2013 1:55am May 14, 2013 1:55am
Quoting mohan76
{quote} when your hulk bear wake up all the support turn into minor support waiting zew , might take few scalping before

haha I dont have my hulkbear on this system, but I do have this on the "May Bear Train"

Gave plenty waring all April, now just enjoying my train ride

Yes Zew always give some movement, be back in 2hrs
Attached Image (click to enlarge)
Click to Enlarge Name: Aussie May 2013.png Size: 32 KB
If you are new to Forex? Say Goodbye to your account!!
  • #797,335
  • May 14, 2013 1:55am May 14, 2013 1:55am
Quoting Likerty
{quote} Initial impulse after the news can be very tradable, but numbers must be unexpected...I'm always looking for highs and lows in data of the past 12 months, and if these are reached and especially if direction coincides with technicals...
Way too dangerous to trade solely based on news.

Otherwise wouldn't it be too easy ? A good NFP/Retail sales/etc. would always go in the same direction, but it's not the case.

That's only me anyway, i'd rather stick to the chart than to a news that it already leaked, known by everybody, and here to manipulate the price.

Yesterday good retail sales is good example on how tricky it is to trade news
COT: The precious data ignored
  • #797,336
  • May 14, 2013 1:55am May 14, 2013 1:55am
Quoting SugarPink
{quote} Dealers are still long they must switch short
Would you be so kind to elaborate on this? Has this info derived from a COT Report?
  • #797,337
  • May 14, 2013 1:57am May 14, 2013 1:57am
It now keeps retest 1.2998 ~ 1.3000 and doesn't break to low.
Will it break now or retest the high 1.3030 now ??

Please advise
  • #797,338
  • May 14, 2013 1:57am May 14, 2013 1:57am
Quoting KiwiTrada
{quote} haha I dont have my hulkbear on this system, but I do have this on the "May Bear Train" Gave plenty waring all April, now just enjoying my train ride Yes Zew always give some movement, be back in 2hrs {image}
oops forgot train now I post will probably bounce, but damage has been done, PB,ed and micro managing,
Attached Image (click to enlarge)
Click to Enlarge Name: May Bear Train.png Size: 517 KB
If you are new to Forex? Say Goodbye to your account!!
  • #797,339
  • May 14, 2013 1:59am May 14, 2013 1:59am
Quoting kewell
It now keeps retest 1.2998 ~ 1.3000 and doesn't break to low. Will it break now or retest the high 1.3030 now ?? Please advise
I will look for reverse from any up move from 1.3005 to 1.3026 to go short.
  • #797,340
  • May 14, 2013 2:01am May 14, 2013 2:01am
Quoting KiwiTrada
{quote} oops forgot train now I post will probably bounce, but damage has been done, PB,ed and micro managing, {image}

i couldn't hold on to my sort , my finger always going after buy button , next year i will take holiday may be visit u

ps: as usual on bull side
Mohan
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