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  • #896,421
  • May 9, 2014 3:15am May 9, 2014 3:15am
Quoting Qipips
{quote} 1.3797-3807 is a good entry for long. amo
A ways from the current price, especially considering what it would take for us to move down to that level. Then again I scalp so I look at charts a bit differently from everyone else.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #896,422
  • May 9, 2014 3:17am May 9, 2014 3:17am
Euro yet to attract any buyers and i think it could go lower till offers come in... 1.3830 proved to be a good SR level, now of course turned Resistance.

We could see a bounce first before another dip but ultimately the way it is now we are back right where we were 2 weeks ago, all in all these current levels in the medium term should still be seen as good RR to go long.

I am still holding my long position from yesterday at 1.3885 (a small starting position) and would look to add if we get closer to the 1.38 levels (this being a larger increment on my position size).

As always, we will need a swing first meaning that price will make a low, then bounce and then retrace and then swing higher or vice versa if we are indeed to continue the current bearish momentum.

My emergency stops will be placed at 1.3749 being just under the daily Boll down and my 89 MA where also confluence comes in with a bullish trend line on the daily. A break below this level will then negate my bullish view for the ST and MT and i will look to start building positions SHORT with target of 1.35/1.3450

I took a long position on OIL from 100.50 where we had a Swing to go higher and have just exited 2/3 of my position with stops set at BE+10

GBP news out in 15 mins, lets see how that affects the day.

Other than that thats me done and i will come back on Monday to see where price is and regroup.

Good luck and many green pips to you ALL!
Cheers!!
  • #896,423
  • May 9, 2014 3:22am May 9, 2014 3:22am
Let's see if the gbp news effects the EUR/USD EUR/JPY AND EUR/CAD PAIRS. Those three pairs have been moving tick for tick with one another since London pre-market.
Keep your Pip-drawdown low. That is the key to using high equity + high lev
  • #896,424
  • May 9, 2014 3:28am May 9, 2014 3:28am
Quoting PipsMaster23
Euro yet to attract any buyers and i think it could go lower till offers come in... 1.3830 proved to be a good SR level, now of course turned Resistance. We could see a bounce first before another dip but ultimately the way it is now we are back right where we were 2 weeks ago, all in all these current levels in the medium term should still be seen as good RR to go long. I am still holding my long position from yesterday at 1.3885 (a small starting position) and would look to add if we get closer to the 1.38 levels (this being a larger increment...
you don't see a huge daily candle 170 pips red engulf ????
are you kidding ???
meet you guys at 3700-3725
  • #896,425
  • May 9, 2014 3:31am May 9, 2014 3:31am
Quoting julia2011
it's bearish day 1.3833-25
when i mentioned this
price was 3950
again see you all at 3700, maybe 368x
  • #896,426
  • May 9, 2014 3:31am May 9, 2014 3:31am
Quoting julia2011
meet you guys at 3700-3725
What's the timeframe for your target?
  • #896,427
  • May 9, 2014 3:33am May 9, 2014 3:33am
Quoting julia2011
{quote} you don't see a huge daily candle 170 pips red engulf ???? are you kidding ??? meet you guys at 3700-3725
I see only 1.3333
Where is all bulls? 1.44 lovers
Thanks Draghi now I believe I catch TOP
I think noone in EU interested euro over 1.4
Once scalper always scalper
  • #896,428
  • May 9, 2014 3:39am May 9, 2014 3:39am
Quoting julia2011
{quote} you don't see a huge daily candle 170 pips red engulf ???? are you kidding ??? meet you guys at 3700-3725
Yes i do, however price made a fresh high before falling, so my take is we need, should have a bounce creating a swing to either come back down (being a failure swing or a swing to go higher).

Good luck to you as it seems you entered short at very good levels, i did not and i don't like the idea of getting in short where price is currently trading.

1.3790 is the 61.8% fib level on daily from 4th April low to yesterdays high, for me that's an attractive level to long!
Cheers!!
  • #896,429
  • May 9, 2014 3:43am May 9, 2014 3:43am
Quoting freemen
{quote} I see only 1.3333 Where is all bulls? 1.44 lovers Thanks Draghi now I believe I catch TOP I think noone in EU interested euro over 1.4
bulll checking in just hitting some nice support areas here for pullback up to 3920.
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All posts are my personal opinion
  • #896,430
  • May 9, 2014 3:47am May 9, 2014 3:47am
Quoting PipsMaster23
{quote} Yes i do, however price made a fresh high before falling, so my take is we need, should have a bounce creating a swing to either come back down (being a failure swing or a swing to go higher). Good luck to you as it seems you entered short at very good levels, i did not and i don't like the idea of getting in short where price is currently trading. 1.3790 is the 61.8% fib level on daily from 4th April low to yesterdays high, for me that's an attractive level to long!
nicely done
All posts are my personal opinion
  • #896,431
  • May 9, 2014 3:50am May 9, 2014 3:50am
Just stay short on Eurusd on any rally. Don't be deceived by good euro economical data.
  • #896,432
  • May 9, 2014 3:56am May 9, 2014 3:56am
Quoting PipsMaster23
{quote} Yes i do, however price made a fresh high before falling, so my take is we need, should have a bounce creating a swing to either come back down (being a failure swing or a swing to go higher). Good luck to you as it seems you entered short at very good levels, i did not and i don't like the idea of getting in short where price is currently trading. 1.3790 is the 61.8% fib level on daily from 4th April low to yesterdays high, for me that's an attractive level to long!
Why take a trade at 1.3880, and adding 1.3800? Especially if you know we are going to hit 1.3800...why not adding bigger there? Instead of being in a 80 pips DD
COT: The precious data ignored
  • #896,433
  • May 9, 2014 3:59am May 9, 2014 3:59am
Barclays: EURUSD reached our targets in the 1.3970/1.40 area before reversing sharply lower on Thursday. The close below 1.3860 suggests further downside. Given the extent of the reversal, we would prefer to fade upticks against 1.3900 and look for a move towards targets near 1.3790/1.3775. Read more Market Talk
  • #896,434
  • May 9, 2014 4:01am May 9, 2014 4:01am
Quoting Tint
Barclays: EURUSD reached our targets in the 1.3970/1.40 area before reversing sharply lower on Thursday. The close below 1.3860 suggests further downside. Given the extent of the reversal, we would prefer to fade upticks against 1.3900 and look for a move towards targets near 1.3790/1.3775. Read more Market Talk
I guess everybody can see 13790 and 13775 so avoid.
  • #896,435
  • May 9, 2014 4:09am May 9, 2014 4:09am
Quoting kuroro001
{quote} Why take a trade at 1.3880, and adding 1.3800? Especially if you know we are going to hit 1.3800...why not adding bigger there? Instead of being in a 80 pips DD
Good question... i took the 1.3880 as it was 38.2% fibo retrace albeit a small entry initial starting position and this level was support, now price coming towards 1.3790/1.38 being 61.8% i will reenter with a slightly larger increment on my position which can also be seen a scale in trade. Keep in mind that no matter what i will never risk more than 1.25% of my account and this will include a max of 3 trades in order to max out that risk. For example initial opening position will have 0.3% risk, 2nd will hold 0.45% and finally a 3rd position will hold 0.5% risk (totaling 1.25% Max risk).

I found that this has worked very well for me over the years, helping me that if my first position is wrong i can usually scale myself out inflicting minimum damage and most times still come out with a profit. I also do the same when positions go in my favor, therefore building a positions using the same technique but entering the 2nd and 3rd with swings to go higher. As i may use my entry with a Strong support or resistance level, a breakout or an if reach strategy aligned with the trend.
Cheers!!
  • #896,436
  • May 9, 2014 4:42am May 9, 2014 4:42am
I'm starting my weekend early, it has been an exhausting one, a way or another ... i'm really interested to see, how far the Dollar momentum will push things! ( Currently, headlines are for the ECB to act hardly and swiftly on monetary easing - NOT AN EXPENSIVE EURO. So, sellers have a convection. Lets see how far can they go?!
"It's the Margin, Stupid."
  • #896,437
  • May 9, 2014 4:49am May 9, 2014 4:49am
Quoting kuroro001
{quote} Why take a trade at 1.3880, and adding 1.3800? Especially if you know we are going to hit 1.3800...why not adding bigger there? Instead of being in a 80 pips DD
every trader has a diff strategy. I don't understand your logic sometimes. you wait for weeks to take a trade. even you would have made excuse in yesterday's fall for not taking a trade. I was in 400 pips loss on 5 kiwi shorts and closed all of them in 600 pips profit. so its all about how much balls u have.
  • #896,438
  • May 9, 2014 4:56am May 9, 2014 4:56am
[quote=freemen;7458893]{quote} I see only 1.3333 Where is all bulls? 1.44 lovers


EUR still likely to hit above 1.40 thi year .
But 1.35 first I think ....
  • #896,439
  • May 9, 2014 5:08am May 9, 2014 5:08am
[quote=yanitsa;7459138]
Quoting freemen
{quote} I see only 1.3333 Where is all bulls? 1.44 lovers EUR still likely to hit above 1.40 thi year . But 1.35 first I think ....
I agree with you, because Draghi’s dropped yesterday an unexpected bombshell that the governing council is comfortable with acting next time, speculating on an easing policy in June.
Want to learn more: HTO Trading
  • #896,440
  • May 9, 2014 5:11am May 9, 2014 5:11am
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