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  • #894,661
  • May 2, 2014 9:41am May 2, 2014 9:41am
Quoting Citiboy
5 yr bond and 10 yr bond volume at the highs since the taper scare... that says something. must be huge sellers... and huge buyers. price barely moved on the day.
protection, not a usd flee. do we really need the fed to buy with so much demand?
those who can, do. those who cant, talk about those who can
  • #894,662
  • May 2, 2014 9:42am May 2, 2014 9:42am
Missed the non-farm as haven't been trading E/U lately, however spotted price had paused at the 61% fib retrace, so as i'm Euro bullish, i went long. Checked back not long after and price had pumped up rapidly. Thought to myself sweet but wtf, then realised it was non-farm day! Price rebounded almost as quickly as it had dropped. Surprising speed.
It'll be alright on the night
  • #894,663
  • May 2, 2014 9:45am May 2, 2014 9:45am
Quoting attila
{quote} I guess you are a little bit screwed there... No respect for the market... She will put you where you belong...
ok budd. i can always learn from my mistakes and admit them. congrats to anyone who has been on the right path. u r not the one to say where i belong though, budd!
  • #894,664
  • May 2, 2014 9:49am May 2, 2014 9:49am
Interesting day and done for the week. I bought today's E/U lows to make 1% and flat.

Have a nice weekend traders

Attached Image
  • #894,665
  • May 2, 2014 9:51am May 2, 2014 9:51am
who could have thought of this at the beginning of the day
Attached Image (click to enlarge)
Click to Enlarge Name: wtfture.PNG Size: 25 KB
Get Rich or Die Tryin
  • #894,666
  • May 2, 2014 9:53am May 2, 2014 9:53am
Quoting rbetancor
{quote} Hope you are doing scalps of seconds ... and for 1-5 pips ... if not ... thx ... we need more blood ...
I am. That is all there is..
  • #894,667
  • May 2, 2014 9:56am May 2, 2014 9:56am
Quoting hoom
who could have thought of this at the beginning of the day {image}
Twitter: @TrendersGame
  • #894,668
  • May 2, 2014 10:02am May 2, 2014 10:02am
Quoting attila
{quote} I gave up talking to them long time ago. It's better this way... for everyone.
now I wonder if you have seen the movie called (Idiocracy) ? That kind depicts the whole American sentiment of average people and education in its satirical way
Past glory means nothing on the battlefield
  • #894,669
  • May 2, 2014 10:02am May 2, 2014 10:02am
Shorting Eu

Right here.

Hammer down the next few north

regards
  • #894,670
  • May 2, 2014 10:04am May 2, 2014 10:04am
Quoting hoom
who could have thought of this at the beginning of the day {image}
I know it looks a bit crazy considering how fast it moves down then straight back up again but it was a perfect retrace to a typical 61.8% zone .. if the down move was happening over a few hours of grind and NFP brought us back up it would look a lot "nicer" but the price points are the same regardless.

I'll get a chart to show what I mean ..

Swing low (which took out a LOT of stops from the last few weeks of range, and brought in a lot of short trades)

Take the low to high for fib, then expect some noise around here I add a +-10% to my fib for this very reason

Bull trap, early breakout and the grind down .. classic trap before a big data release, and inflicting pain on those that tried to buy a continuation of the big move up

News/data release spikes, look for signs of continuation .. there are none .. signs of buying at a retracement point from the big move up earlier though.

Now we wait and see where it goes next, continues on up is my guess.


edit: note, I know I know it all looks nice in hindsight, this isn't meant to be a "I told you so!" or hindsight trade, I am just trying to clarify how what looks like a crazy day could really just be following regular market structure.



fyi: At this point if you were looking for a fairly typical 90 pip+- trade for a long continuation it would take us up to the 1.39 level, and lines up nicely with a 127.2 target
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15 nfp retrace.png Size: 73 KB
  • #894,671
  • May 2, 2014 10:05am May 2, 2014 10:05am
Quoting ffleo
{quote} when you talk among your neighbors or co-workers, they do not understand you. they do not know what you are talking about. all they care about is to watch TV at night.
So fucking true. Most of the general public have no interest in matters which are actually very important to their lives, so remain dumb.
It'll be alright on the night
  • #894,672
  • May 2, 2014 10:13am May 2, 2014 10:13am
Quoting TauTrader
Shorting Eu Right here. Hammer down the next few north regards
Heloo....

Hello.......

Waiting for all the clever dudes.

Scalping short here.
  • #894,673
  • May 2, 2014 10:22am May 2, 2014 10:22am
NFP - 60 pip range ...
  • #894,674
  • May 2, 2014 10:26am May 2, 2014 10:26am
Quoting Gaviscon3
{quote} So fucking true. Most of the general public have no interest in matters which are actually very important to their lives, so remain dumb.
I remember talking to an ex-colleague (i quit) about stocks. Sound fella but his attitude was reflective of most people. We'd talk about stocks he owned and at that point one of his holdings had been down for the last few months. He would say "it'll go up". They most likely would because of QE but i'd ask him, what makes you think that? "They always do". But why do you think that particularly share will go up? "It will". I dunno mate investors are getting jittery over the board's lack of transparency. "They'll go up". Always amazed me.
It'll be alright on the night
  • #894,675
  • May 2, 2014 10:27am May 2, 2014 10:27am
Quoting TauTrader
Shorting Eu Right here. Hammer down the next few north regards
I'm in too. Tought it wasn't going for 1.38665+ because of short term resistance there, but it did.
TP at 1.386.
  • #894,676
  • May 2, 2014 10:41am May 2, 2014 10:41am
Quoting TauTrader
{quote} Heloo.... Hello....... Waiting for all the clever dudes. Scalping short here.
Its tough for once lol. imo the market will open lower for the eur/usd since we are at peak weekly but that's about it its market without direction
Past glory means nothing on the battlefield
  • #894,677
  • Edited 10:55am May 2, 2014 10:41am | Edited 10:55am
Quoting hoom
who could have thought of this at the beginning of the day {image}
look at the history, 2 out of 3 times this happens...
today there was a big expectation about the NFP and the Big Bull that was gonna to unleash in the USD

where is the Bull??? ....

Bad Eurozone News, - Up Euro
QE eurozone - Up Euro
Awesome USA News - Up Euro
A War in EU Backyard - Up Euro
Negative Euro Rates - Up Euro
European Countries Defaulting - Up Euro

Wtf....
  • #894,678
  • May 2, 2014 10:49am May 2, 2014 10:49am
Quoting hoom
who could have thought of this at the beginning of the day {image}
Me ... 48h ago ... you could search for the graphs ...
  • #894,679
  • May 2, 2014 10:57am May 2, 2014 10:57am
what!!!!!!1the market retraced this much and i wasnt in it...so fucking pissed at my self right now...well i guess the most important rule in forex is NEVER LOOSE MONEY..i have aboslutely no idea where the market is heading to next.AM gona have to wait till next week to find out i guess..have a nice weekend fellas
  • #894,680
  • May 2, 2014 10:58am May 2, 2014 10:58am
Quoting Citiboy
5 yr bond and 10 yr bond volume at the highs since the taper scare... that says something. must be huge sellers... and huge buyers. price barely moved on the day.
Citiboy, I wondering if you take partial profits on your shorts building a higher overall cost average? I understand your reasons and agree for being short but this type of price action has been going on for a long time so it seems to me that you either need to take quick partials on your LARGE shorts or build smaller shorts that can have a stop loss greater than today's 40 pip stop you put on with the added short in the 1.3830's.
just curious
Without a trade plan, say bye bye to your account & hello to frustration.
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