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Help Me Establish The GbpUsd After Dinner Club 40 replies

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  • #12,001
  • Nov 22, 2013 11:43am Nov 22, 2013 11:43am
I see a possibility of people changing there positions from short to long next week and this could offer some real good sell on euro for longer time scale.

Here is my pic.
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  • #12,002
  • Nov 22, 2013 11:47am Nov 22, 2013 11:47am
EURUSD 60Min

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The good news : There haven't any 'clear' close over 1.35424 also it 'toped' with the previous broken up tendence line

The bad news: if we scale out to D1 ... we see there are room to get the 1.3638 touched ... just for 'kiss and forget'

Need to wait and see how it develop
  • #12,003
  • Nov 22, 2013 11:51am Nov 22, 2013 11:51am
Quoting Vladimir1987
Hi guys, would really appreciate if someone could mention some literature about money flow since i got interested in the whole market conditions. Thanks vlad
Hi Vlad, try these :
http://store.stockcharts.com/collect...by-john-murphy
  • #12,004
  • Nov 22, 2013 11:53am Nov 22, 2013 11:53am
So ... let's take a look at the MTF Murray Math Graph from the EA ...

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Se wee topping signals ... so think it will drop from here at least to 1.3450 zone
  • #12,005
  • Nov 22, 2013 11:59am Nov 22, 2013 11:59am
Quoting andexQ
{quote} Hi Vlad, try these : http://store.stockcharts.com/collect...by-john-murphy

Thank you for that

cheers
  • #12,006
  • Nov 22, 2013 12:08pm Nov 22, 2013 12:08pm
Quoting Vladimir1987
Hi guys, would really appreciate if someone could mention some literature about money flow since i got interested in the whole market conditions. Thanks vlad

try this - the bible

http://www.cmegroup.com/education/in...e/handbook.pdf
  • #12,007
  • Nov 22, 2013 12:22pm Nov 22, 2013 12:22pm
Quoting PipTrapper
{quote} Yes that area is loaded with sell side stop losses. A perfect target for the SL hunting vultures.
Yes.. If it wants to turn it should do it right here.. I noticed that often rejections from weekly/monthly levels happen at 40 pip distance - current high is exactly that
69
  • #12,008
  • Nov 22, 2013 1:10pm Nov 22, 2013 1:10pm
Quoting milam
{quote} I only long eurcad, nothing more. For EU, I only see long, for short maybe Monday. But that is only me, you know I am a lousy trader.
Closed +80 pips
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Wherever you go, there you are.
  • #12,009
  • Nov 22, 2013 1:20pm Nov 22, 2013 1:20pm
Quoting Likerty
{quote} Yes.. If it wants to turn it should do it right here.. I noticed that often rejections from weekly/monthly levels happen at 40 pip distance - current high is exactly that
Well it seems to be stalling here so it might be looking good for shorts.
Let's see if we get a weekend retail gap.
Those who say it cannot be done should not interrupt those who are doing it
  • #12,010
  • Nov 22, 2013 1:34pm Nov 22, 2013 1:34pm
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Those who say it cannot be done should not interrupt those who are doing it
  • #12,011
  • Nov 22, 2013 2:06pm Nov 22, 2013 2:06pm
MMSMP

levels


3567 would be a nice place for a reversal/retracement
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  • #12,012
  • Nov 22, 2013 2:11pm Nov 22, 2013 2:11pm
Quoting PipTrapper
{image}

Hi PT,

would like to see exactly this :-)


But one other option came to mind:

what, when the drop this week, your wave 1, was in fact the wave C of an ABC-flat down, and we are now in a impulsive wave up?

In this case we might be right now at the end of its wave 3, with wave 4 and 5 to come on Monday, which would carry us towards 3577 at least......
  • #12,013
  • Nov 22, 2013 2:16pm Nov 22, 2013 2:16pm
have a nice WE

Inserted Video
Wherever you go, there you are.
  • #12,014
  • Nov 22, 2013 2:25pm Nov 22, 2013 2:25pm
https://media.dailyfx.com/illustrati...y_Object_1.png




Meanwhile something out of the real trading world:



Statistics from a large retail trader firm (250.000 investors):

73% of retail traders are short EUR/USD. – EUR is rising instead
81% are short GBP/USD – GBP/USD is rising instead
45% are long USD/JPY – USD/JPY is rising
79% are long USD/CHF – USD/CHF is falling instead
78% are short EUR/JPY – EUR/JPY is instead rising
______________________________________________________________
Conclusion: retail traders are principle brokerages best friends as principal brokers are making money of retail traders with their B Book (making money of their own clients being on the wrong side of the trade)


Advice: leave it to professionals to trade your money. Retail traders are losing diminishing their accounts latest after 3-6 months trading WITHOUT experience!
________________________________ Errare humanum est
  • #12,015
  • Nov 22, 2013 2:25pm Nov 22, 2013 2:25pm
Quoting infinitus
{quote} Hi PT, would like to see exactly this :-) But one other option came to mind: what, when the drop this week, your wave 1, was in fact the wave C of an ABC-flat down, and we are now in a impulsive wave up? In this case we might be right now at the end of its wave 3, with wave 4 and 5 to come on Monday, which would carry us towards 3577 at least......
I am good until 1.3630, so no sweat.

Now, seeing as the Aussie and the Euro seem to be inversely correlated the last few days, perhaps the Euro is ready for a short and the Aussie is ready for a long... and in the case of the Aussie, it still has room to do another small leg down after a small bounce as well

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Those who say it cannot be done should not interrupt those who are doing it
  • #12,016
  • Nov 22, 2013 2:28pm Nov 22, 2013 2:28pm
interesting pattern over the past last days:

highs have been made on rather small volume, lows came with high volume
  • #12,017
  • Nov 22, 2013 2:28pm Nov 22, 2013 2:28pm
Quoting MisterTrader
{image} Meanwhile something out of the real trading world: Statistics from a large retail trader firm (250.000 investors): 73% of retail traders are short EUR/USD. – EUR is rising instead 81% are short GBP/USD – GBP/USD is rising instead 45% are long USD/JPY – USD/JPY is rising 79% are long USD/CHF – USD/CHF is falling instead 78% are short EUR/JPY – EUR/JPY is instead rising ______________________________________________________________ Conclusion: retail traders are principle brokerages best friends as principal brokers are making money of retail...

Are these the professional traders you are talking about?

Goldman Sachs Group Inc lost more than $1 billion on currency trades
Those who say it cannot be done should not interrupt those who are doing it
  • #12,018
  • Nov 22, 2013 2:30pm Nov 22, 2013 2:30pm
Quoting infinitus
interesting pattern over the past last days: highs have been made on rather small volume, lows came with high volume
Yes and while some may argue that the high volumes on the drops were related to "panic selling", I say "Well you may be right, but in that case if they were panic selling, that tells me the top is very shaky"
Those who say it cannot be done should not interrupt those who are doing it
  • #12,019
  • Nov 22, 2013 2:34pm Nov 22, 2013 2:34pm
watch GBPAUD

based on currency strength analysis it may be ripe for a drop


I take a small 1/10 short here over weekend @ 3767
  • #12,020
  • Nov 22, 2013 2:36pm Nov 22, 2013 2:36pm
Quoting PipTrapper
{image}
Invisible, Invisible, mercy seat, jdlindsey, andexQ, 2bills, JRissa, mirgi, Didinator

Hi PT,

we see before 1.36xx than a drop like a stone!

NICE WEEKEND TO ALL!

Schickeria!
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