Attachments: EURUSD

EURUSD

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#817,901
Jul 24, 2013 10:47pm Jul 24, 2013 10:47pm

milam
| Membership Revoked | Joined Jul 2013 | 4,068 Posts

Quoting Xhale

Disliked

Doesn't get much easier than this {image}

Ignored

Wherever you go, there you are.

#817,902
Jul 24, 2013 10:48pm Jul 24, 2013 10:48pm

Ambar
| Joined May 2013 | Status: Trader | 373 Posts

Quoting Delta1One

Disliked

{quote} Well..changed my mind....I'll now set my game plan on short if unexpected channel break down side, target1 1.3069, target2 1.2998, but long till target1 1.3293 & target2 1.3339....immediate logical move is uptrend as suggested by channel & economic releases...would be perfect to catch now up then down from peak pullback after expected news releases... Cyclic overdue vs Fundamentals...we'll see the outcome.

Ignored

Upwards,It needs to cross 1.3216 with a condle close, there is a resistance as TekanH4 AND kIJUNH1, are making a double border.

#817,903
Jul 24, 2013 10:52pm Jul 24, 2013 10:52pm

hadox
| Joined Nov 2011 | Status: attitude is everything.. | 1,492 Posts

Quoting Ambar

Disliked

{quote} Upwards,It needs to cross 1.3216 with a condle close, there is a resistance as TekanH4 AND kIJUNH1, are making a double border.

Ignored

1.322x got rejected for now, bears lurking.. 1.318x , 1.314x and 1.311x could be bear targets.. ifo could give a clue later..

gl trading

Patience is a virtue...

#817,904
Jul 24, 2013 11:13pm Jul 24, 2013 11:13pm

Silat50
| Joined Oct 2012 | Status: Trader | 523 Posts

Quoting ffleo

Disliked

{quote} weekly chart has one week in each bar. one needs to trade over several bars, that means if one trades weekly chart one needs to hold a position for several weeks. for intraday trading, the maximum time frame to trade is 4 hours; use daily chart only to guage the trend.

Ignored

I dont agree 100% ffleo. I have gone over my trading log this year, and on my trading that I do on 60 min charts, where nothing looks over extended in any way, I find if I dont look for something "off kilter: ,not just direction going on, then I often lose, as many times the 60 min and 8sma are just moving smoothlessly together back and forth and yet on the daily, the instrument is so overbought/oversold, it cant possibly move any more in that direction...........and 90% of the time, it doesnt! In fact I think for any intra day trader(although 60 min is often 2-3 day holds) should always be seeing if they would take the same trade by looking at at least 30 bars back on the daily. Thats how you get rid of the illusion the smaller fish paint on the charts whose "big" buying IS big...for a few 5 min bars, thats about all. -)

Right now Im long the Euro and especially eur/jpy but I think the euro is being manipulated and when the US stock market corrects, we could see 6 or 7 solid red daily bars on our charts. The bears havent had their day in the sun in a loooong time. Nothing stays flat and choppy forever.

#817,905
Jul 24, 2013 11:15pm Jul 24, 2013 11:15pm

Silat50
| Joined Oct 2012 | Status: Trader | 523 Posts

Quoting hadox

Disliked

{quote} 1.322x got rejected for now, bears lurking.. 1.318x , 1.314x and 1.311x could be bear targets.. ifo could give a clue later.. gl trading

Ignored

Everyone always uses terms like "bears lurking." But with only 11 banks controlling over 80% of the volume, I just think its going to go where the demand is and all the games in between that are done by the traders trying to make their bonuses, the big banks are making a fortune on transaction fees, spreads and God knows what else is hidden in there.

#817,906
Jul 24, 2013 11:21pm Jul 24, 2013 11:21pm

hadox
| Joined Nov 2011 | Status: attitude is everything.. | 1,492 Posts

Quoting Silat50

Disliked

{quote} Everyone always uses terms like "bears lurking." But with only 11 banks controlling over 80% of the volume, I just think its going to go where the demand is and all the games in between that are done by the traders trying to make their bonuses, the big banks are making a fortune on transaction fees, spreads and God knows what else is hidden in there.

Ignored

so tell me, where's the demand then?

Patience is a virtue...

#817,907
Jul 24, 2013 11:40pm Jul 24, 2013 11:40pm

ffleo
| Membership Revoked | Joined May 2013 | 7,946 Posts

Quoting Silat50

Disliked

{quote} I dont agree 100% ffleo. I have gone over my trading log this year, and on my trading that I do on 60 min charts, where nothing looks over extended in any way, I find if I dont look for something "off kilter: ,not just direction going on, then I often lose, as many times the 60 min and 8sma are just moving smoothlessly together back and forth and yet on the daily, the instrument is so overbought/oversold, it cant possibly move any more in that direction...........and 90% of the time, it doesnt! In fact I think for any intra day trader(although...

Ignored

it seems that you do not fully understand my statement. i said that a trade should last several bars no matter what time frame you base your trade on. if you base your trade on weekly chart, keep your trade for several weeks. if you trade on an hourly chart, keep your trade for several hours.

ignore wackos and psychos, including myself. But I can't add myself to iggy

#817,908
Jul 24, 2013 11:43pm Jul 24, 2013 11:43pm

ffleo
| Membership Revoked | Joined May 2013 | 7,946 Posts

Quoting Silat50

Disliked

{quote} I dont agree 100% ffleo. I have gone over my trading log this year, and on my trading that I do on 60 min charts, where nothing looks over extended in any way, I find if I dont look for something "off kilter: ,not just direction going on, then I often lose, as many times the 60 min and 8sma are just moving smoothlessly together back and forth and yet on the daily, the instrument is so overbought/oversold, it cant possibly move any more in that direction...........and 90% of the time, it doesnt! In fact I think for any intra day trader(although...

Ignored

also there is no such thing called overbought or oversold in trading. give up on that misconception and it will do you good.

ignore wackos and psychos, including myself. But I can't add myself to iggy

#817,909
Jul 25, 2013 12:21am Jul 25, 2013 12:21am

Scalptastic
| Membership Revoked | Joined Jul 2013 | 252 Posts

I think break below 1.3150 will turn the trend bearish. I still expect move around 1.3300. Quiet markets tend to chase the most vulnerable stops, usually those of the most recently established positions.

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