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  • #871,001
  • Jan 20, 2014 7:49am Jan 20, 2014 7:49am
Quoting 110101
To me the EU chart is screaming short {image}
agree...
Attached Image (click to enlarge)
Click to Enlarge Name: ss.PNG Size: 65 KB
fokyou forexfactory
  • #871,002
  • Jan 20, 2014 7:49am Jan 20, 2014 7:49am
Quoting 110101
To me the EU chart is screaming short, I'll take a bite once it sets up today ahead of the german news. I do not think they'll turn it around. I always use a stoploss so if it does i won't let it run 100 pips + against me. So patiently waiting. Another thing that throws doubt in my mind is U/J. JPY has been showing signs of strength and I for whatever reason cannot see UJ trade above 105(many say we'll see 110) I don't know. But anyway here's my chart for EU, no trade yet. {image}

If it does not cross 1.3682 before the german news I would sell it as well. for now stay away. it will chop you both sides
  • #871,003
  • Jan 20, 2014 7:53am Jan 20, 2014 7:53am
Quoting DNTme
{quote} agree... {image}



DNT, I've embraced the 53!! Thanks, always wanted an avatar, with your research skills, IGOTIT!!!
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #871,004
  • Jan 20, 2014 7:53am Jan 20, 2014 7:53am
Quoting giveachance
{quote} If it does not cross 1.3682 before the german news I would sell it as well. for now stay away. it will chop you both sides
you should say: I STAY AWAY...

maybe others have other view on this
fokyou forexfactory
  • #871,005
  • Jan 20, 2014 7:55am Jan 20, 2014 7:55am
Quoting DNTme
{quote} you should say: I STAY AWAY... maybe others have other view on this
yes agree. I will stay away. thanks
  • #871,006
  • Jan 20, 2014 7:55am Jan 20, 2014 7:55am
Quoting 110101
{quote} DNT, I've embraced the 53!! Thanks, always wanted an avatar, with your research skills, IGOTIT!!!
fokyou forexfactory
  • #871,007
  • Jan 20, 2014 7:55am Jan 20, 2014 7:55am
About the news from Germany,
Checked the last 6 months for the ZEW Survey data and despite them all being quite positive (reached expectations or over by just few points) the EUR dropped by 50-70 pips vs the Green.
If the ZEW for EU is not better than 75 pts and for Ger below 70 I take it as a 50+ drop in E/U
Just my own view...
  • #871,008
  • Jan 20, 2014 7:57am Jan 20, 2014 7:57am
Quoting 110101
To me the EU chart is screaming short, I'll take a bite once it sets up today ahead of the german news. I do not think they'll turn it around. I always use a stoploss so if it does i won't let it run 100 pips + against me. So patiently waiting. Another thing that throws doubt in my mind is U/J. JPY has been showing signs of strength and I for whatever reason cannot see UJ trade above 105(many say we'll see 110) I don't know. But anyway here's my chart for EU, no trade yet. {image}
I'd be careful shorting right now this is a pretty decent bounce off of trendline support on the daily. My bias is down but we may get a good pullback from this level
  • #871,009
  • Jan 20, 2014 8:02am Jan 20, 2014 8:02am
Quoting smikester
{quote} Well Griffo these are my rules. I never make an opinion on a daily candle until it has closed - even within an hour of the close. Secondly, I am aware that different feeds provide different candles - the main ones to look at being GMT and EST, in my opinion. I hope this helps.
It helps a lot What sort of confirmation would you be looking at to make you think it is a reversal? a bullish hour candle after the daily close? 4 hour candle?

I have a trend line going up drawn on EU. This has been broken, but seems to be on its way back up to it. I was going to wait and see if it can break above it again and close to look into long positions, or hit it and bounce back below it for short positions. Of course trend lines aren't everything and i'd look at what news is coming up and also relevant support/resistance.

Cheers
  • #871,010
  • Jan 20, 2014 8:10am Jan 20, 2014 8:10am
Bunch of crazy vol candles up inside 1.357x...we could head there

If strongly broken untouched 1.359x then
COT: The precious data ignored
  • #871,011
  • Jan 20, 2014 8:11am Jan 20, 2014 8:11am
offtopic...but G/A is just nice today
Attached Image (click to enlarge)
Click to Enlarge Name: ga.PNG Size: 46 KB
fokyou forexfactory
  • #871,012
  • Jan 20, 2014 8:16am Jan 20, 2014 8:16am
Quoting DNTme
offtopic...but G/A is just nice today {image}
Had a GU with nice target but after BE my SL was hit,
Happen all the time
Attached Image (click to enlarge)
Click to Enlarge Name: pound.jpg Size: 16 KB
swing it!
  • #871,013
  • Jan 20, 2014 8:17am Jan 20, 2014 8:17am
How many millions do i need to have to trade without spread?
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #871,014
  • Jan 20, 2014 8:18am Jan 20, 2014 8:18am
http://www.telegraph.co.uk/news/good...ugh-walls.html
Patience is a virtue...
  • #871,015
  • Jan 20, 2014 8:21am Jan 20, 2014 8:21am
Quoting 110101
How many millions do i need to have to trade without spread?
You can't....you'll have to pay your broker by any means
COT: The precious data ignored
  • #871,016
  • Jan 20, 2014 8:22am Jan 20, 2014 8:22am
Quoting tomspin
{quote} Had a GU with nice target but after BE my SL was hit, Happen all the time {image}
what a pity...maybe you should work on when to put BE or so...
nevermind, next time...
fokyou forexfactory
  • #871,017
  • Jan 20, 2014 8:36am Jan 20, 2014 8:36am
Quoting 110101
How many millions do i need to have to trade without spread?
5 millions ..
"It's the Margin, Stupid."
  • #871,018
  • Jan 20, 2014 8:37am Jan 20, 2014 8:37am
Quoting Vachus
{quote} 5 millions ..

psshh, im only 5 millions short, in no time! lol
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #871,019
  • Jan 20, 2014 8:39am Jan 20, 2014 8:39am
Quoting Vachus
{quote} 5 millions ..
..and what if you have 5 mio..?
explain please
fokyou forexfactory
  • #871,020
  • Jan 20, 2014 8:40am Jan 20, 2014 8:40am
Quoting Griffo
{quote} It helps a lot What sort of confirmation would you be looking at to make you think it is a reversal? a bullish hour candle after the daily close? 4 hour candle? I have a trend line going up drawn on EU. This has been broken, but seems to be on its way back up to it. I was going to wait and see if it can break above it again and close to look into long positions, or hit it and bounce back below it for short positions. Of course trend lines aren't everything and i'd look at what news is com alsing up ando relevant support/resistance. Cheers...
Haha! How long have you got? I don't use trend lines much. I develop a sentiment, based on technical analysis on higher time frames like daily, weekly and even monthly. For example, if the 200 dma is pointing down and the price is trading below there, we should be looking for shorts, right? Well, not necessarily. We need to enter short after a pull back so like you hear these guys saying "I'm looking at 1.xxxx to enter short". It could be a fib level like we have now on the hourly Eur/Usd and especially if it coincides with a low from last week. These sort of make good pivot points. Then look at price action on the hourly, M15 or even M5 to reduce your risk. Professionals hate enduring drawdown and they will look at these time frames for price action. Because these time frames are universal and not affected by GMT or EST the price action read out may have more influence. That's sort of what I look for and I have a low win rate, usually less than 50% because I ditch anything that looks dodgy quite early but I will hold a position if it's going my way and I'll hold for days or even weeks, to get a high R : R

There. That's about 0.1% of it...
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