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  • #800,701
  • May 23, 2013 8:17am May 23, 2013 8:17am
Quoting kuroro001
{quote} Bulls want to squeeze up that's for sure.Classic. But we have a lot of sellers up there..
It bothers me the price is at the top of the session just before NY open..Can also go up for the day, no question..
  • #800,702
  • May 23, 2013 8:17am May 23, 2013 8:17am
Quoting Pip Anon
{quote} This is what I think: whether he is ultimately "right" or not is irrelevant. Being early is the same as being wrong. Calling 1.33 at 1.3 or 1.32 then watching it drop to 1.279, then maybe going to 1.33 eventually is not a solid call.

But you'll see that often... those guys usually disappear having important matters to do before they re-appear with a bunch of soldiers thanking them for their supreme calls months earlier.
  • #800,703
  • May 23, 2013 8:18am May 23, 2013 8:18am
Quoting attila
{quote} It bothers me the price is at the top of the session just before NY open..Can also go up for the day, no question..

Just wait for London close, NY never got the chance at the bottom.
  • #800,704
  • May 23, 2013 8:19am May 23, 2013 8:19am
stop bitching and go watch the weather dear Tom
  • #800,705
  • May 23, 2013 8:20am May 23, 2013 8:20am
And based on yesterday, let the US Markets be perceived as back risk / weak. And the perception that the QE trapdoor is going to pulled. Same with dollar: Huge move, time for pullback: Retracement of most of it's move of yesterday already)
This is only temporary to buy this pair, strength perception. Then resume normal programming.
----- Dragonfly out in the sun you know what I mean, don't you know
  • #800,706
  • May 23, 2013 8:20am May 23, 2013 8:20am
Maybe he is simply trading the yearly / 5 year chart?
  • #800,707
  • May 23, 2013 8:22am May 23, 2013 8:22am
Quoting Pip Anon
{quote} This is what I think: whether he is ultimately "right" or not is irrelevant. Being early is the same as being wrong. Calling 1.33 at 1.3 or 1.32 then watching it drop to 1.279, then maybe going to 1.33 eventually is not a solid call.
400 pip drawdown... Yeah, that kind of trading can be problematic long term. But it also depends on his trade size.
  • #800,708
  • May 23, 2013 8:23am May 23, 2013 8:23am
Quoting fxmasterboy
stop bitching and go watch the weather dear Tom
OK I will
swing it!
  • #800,709
  • May 23, 2013 8:23am May 23, 2013 8:23am
Quoting Mr Hatch
close > 2926.9 needed for 3010.2 (gator's 3097). 2915.6 is both the mid of yesterday's action and towards mentioned target.
..May also need a close over 55...if 29 ever gets taken out...
  • #800,710
  • May 23, 2013 8:23am May 23, 2013 8:23am
Quoting Mr Hatch
{quote} But you'll see that often... those guys usually disappear having important matters to do before they re-appear with a bunch of soldiers thanking them for their supreme calls months earlier.
Lol. For instance, on the 16th I made a target for Aussie to reach .98 and then down to .9665 and it did. If it shot up to .99, 1.02, 1.05 then to .9665 not really all that successful. If he was like "hey, after it hit 1.28 we'll see 1.3, that a pretty good call.
When the facts change I change my mind, what do you do sir
  • #800,711
  • May 23, 2013 8:24am May 23, 2013 8:24am
Quoting Pip Anon
{quote} This is what I think: whether he is ultimately "right" or not is irrelevant. Being early is the same as being wrong. Calling 1.33 at 1.3 or 1.32 then watching it drop to 1.279, then maybe going to 1.33 eventually is not a solid call.
Well you are right. But you have to understand there things that I have no possible control. Like Draghi exactly words that he will use. A QE end article out of the nothing on WallStreetJornal. hmm things like that.
"You're solid gold, see you in hell"
  • #800,712
  • May 23, 2013 8:25am May 23, 2013 8:25am
Quoting SpacyTrader
{quote} 400 pip drawdown... Yeah, that kind of trading can be problematic long term. But it also depends on his trade size.
I disagree. A wrong call is a wrong call. All trade size has to do is whether or not he gets a margin call. What is the point of holding a a few .1 around 1.32-1.3 and waiting months until a target is reached?

Let this come to fruition!
When the facts change I change my mind, what do you do sir
  • #800,713
  • May 23, 2013 8:27am May 23, 2013 8:27am
Quoting SugarPink
{quote}Well you are right. But you have to understand there things that I have no possible control. Like Draghi exactly words that he will use. A QE end article out of the nothing on WallStreetJornal. hmm things like that.
Exactly. Cut your losses and reevaluate. You have to be able to adapt to the markets. FX is financial Darwinism. I want you to have green pips friend.
When the facts change I change my mind, what do you do sir
  • #800,714
  • May 23, 2013 8:28am May 23, 2013 8:28am
Daily

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  • #800,715
  • May 23, 2013 8:30am May 23, 2013 8:30am
last week was an end to a time cycle and this month is the start of a new one. looking at weekly we are still inside last weeks range.
what im getting at is the breakout of last weeks range will be of HUGE importance for the coming months even years
  • #800,716
  • May 23, 2013 8:30am May 23, 2013 8:30am
Quoting RsX
{quote} SP, what's your specific "proven-wrong" level ?
..and also curious (if you don't mind) what was/were the entry level(s), when you positioned long towards the 1.33 target? Somewheres 1.30 ?
Patience, persistence and probabilities.
  • #800,717
  • May 23, 2013 8:30am May 23, 2013 8:30am
Quoting Mr Hatch
{quote} Just wait for London close, NY never got the chance at the bottom.

I'm always watching where NY opens in relation to Lo Hi/Lo. In general NY wants the closest H/Lo. I would close that short but we had that Daily TL I posted.. Maybe that'll cap it.
  • #800,718
  • May 23, 2013 8:30am May 23, 2013 8:30am
50% fib from the 1.3000 high yesterday. Lets see if it closes in there and moves lower. If not I miscalculated what price action overnight.
  • #800,719
  • May 23, 2013 8:32am May 23, 2013 8:32am
Quoting Pip Anon
{quote} I disagree. A wrong call is a wrong call. All trade size has to do is whether or not he gets a margin call. What is the point of holding a a few .1 around 1.32-1.3 and waiting months until a target is reached? Let this come to fruition!
True. It would have been better to trade down from 1.32 all this time. The question then is if he would be better of taking a loss now and then or holding small positions in draw-down for months before closing in profit. That depends on his strategy. If he can reliably determine the long term trend he can survive such drawdowns.
  • #800,720
  • May 23, 2013 8:33am May 23, 2013 8:33am
Quoting RsX
{quote} ..and also curious (if you don't mind) what was/were the entry level(s), when you positioned long towards the 1.33 target? Somewheres 1.30 ?
When the people who are making this market stop accumulating longs and distribute them.
It was at 1.31
"You're solid gold, see you in hell"
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