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  • #898,341
  • May 15, 2014 7:05pm May 15, 2014 7:05pm
Hi seniors,

I'm new here and this is my first post. I've been following this thread for awhile and I'm here to learn from all you senior folks here.
I believe everyone has their reasons for holding a certain position.
Let me start by sharing my own view on the pair and hope I get kind advice from you

My near-term bias will be long for the next one or two weeks.
Reason 1: The down move from 1.3990 seems to be losing its steam for now. (1st dip= 250pip, 2nd dip= 81pip, 3rd dip=70pip)
Reason 2: 1.3647 seem to have really strong buying strength as it reversed and engulfed the whole of the 3rd dip in one forceful move up.

It seem to me that 1.3647 is possible bottom that's worth betting on, therefore I'm currently holding long position, and have buy orders all over the 1.3647-1.3712 region. Consolidated SL just below 1.364x and TP 1.3810.

Total potential risk = 1% of account balance
  • #898,342
  • May 15, 2014 7:09pm May 15, 2014 7:09pm
Quoting whiteout
{quote} is the same if we talk about trading. including so called "technical analysis". put 10 trader in a room and ask them what's the meaning of "technical analysis" an you will get 10 different reply. ask them what mean "support and resistence" and you will get maybe 4 - 5 different reply. ask them to draw some s/r on a chart and you will get 15 different levels.
Oh wow haven't seen you around in a while!! How have you been?
  • #898,343
  • May 15, 2014 7:09pm May 15, 2014 7:09pm
Quoting Kanzler
{quote} And not a one of them makes a penny of long term profit. They all work out wonderfully in the past. In the future, have fun guessing which of the possible formations will occur. It's impossible to do that consistently. I think the guy who came up with it ended up totally broke and never had any record of a fortune...that speaks volumes right there. {quote} We will. But in either case it won't support EW. You yourself know what kind of track record it's served you, but I won't push you any farther.
So u think eurusd gonna keep falling till where? Whats your prediction based on?
(It's not an advise, use your own head..)
  • #898,344
  • May 15, 2014 7:13pm May 15, 2014 7:13pm
Quoting whiteout
{quote} is the same if we talk about trading. including so called "technical analysis". put 10 trader in a room and ask them what's the meaning of "technical analysis" an you will get 10 different reply. ask them what mean "support and resistence" and you will get maybe 4 - 5 different reply. ask them to draw some s/r on a chart and you will get 15 different levels.
I'd have to say that 9 of them must be pretty dumb then. "Technical analysis" has only one definition. Many different "tools" but one definition. And price determines SR levels. So if all of them are looking at the same TF, there aren't too many choices. I wonder how many answers you'd get to asking what PA is??

That's why I like it. Simple, Clean, Deadly
Ghost Rider - WWTBMD?
  • #898,345
  • May 15, 2014 7:19pm May 15, 2014 7:19pm
Quoting pytaz
{quote} So u think eurusd gonna keep falling till where? Whats your prediction based on?
In the long term, I think we've either made the top already or are very close to it. Short term, rise to 1.3744ish and then fall to the lows again and possibly more. That would be my first trouble area though. What it's based on is my immature understanding (but still modestly profitable) understanding of price action, but that's a whole story in itself.
  • #898,346
  • May 15, 2014 7:55pm May 15, 2014 7:55pm
Quoting JohnIsShort
{quote} Yep. I'm calling a temporarly bottom/euro support, today with a bullish view towards a break of 1.40. Markets are sensing euro weakness/cracks we are seeing a lot of selling pressure and people are taking notice besides that euro is doing remarkly well. Everything that a Euro bear could have hoped for happen today. Everything aligns with their views now lets see if it will really translate to their price targets, I argue that it won't. {quote} Thanks, same thing here on my part
"temporarly bottom/euro support"

what exactly does this mean? if it parks here for 10mins and continues falling, yep temporary bottom, 6hrs yep same 10days yep I was right, even if it parks here for times as above and rallies, yep a "temporary bottom" right again, in fact this statement can not be wrong, either up or down,
normal pa is fluid with temporary "pauses all over the place" every time frame !!

thanks for the useless information
If you are new to Forex? Say Goodbye to your account!!
  • #898,347
  • May 15, 2014 8:00pm May 15, 2014 8:00pm
Quoting albchr
{quote} I'd have to say that 9 of them must be pretty dumb then. "Technical analysis" has only one definition. Many different "tools" but one definition. And price determines SR levels. So if all of them are looking at the same TF, there aren't too many choices. I wonder how many answers you'd get to asking what PA is?? That's why I like it. Simple, Clean, Deadly
and the others 9 will say the same about you and about each other's. funny isn'it ? i think that s/r are defined by price, history of price, and how all of this are perceived by the partecipants of the market, and some other things, but it doesen't matter. point is that you will get tons of different levels. same goes if you ask to draw some EW to EW traders or whatever you'd like, you will get tons of different ..waves. don't get me wrong, i don't use EW or BB or MA or anythingh else, just price time and - where available - volume. Just don't forget that we are not talking about a science here, and that's why no one could predict where the price will be tomorrow, you can make assumptions, some very reasonable based on the information shown by the chart - yes there are a lot of information into a chart, luckily for me very few people spent time to investigate how to read them - some less reasonable based on..well whatever it is.
just imho

Quoting Kanzler
{quote} Oh wow haven't seen you around in a while!! How have you been?
oh i am fine and i am doing well, less forum bullshit and more trading.
Sometime the horizon disappear. Twitter: @_whiteout
  • #898,348
  • May 15, 2014 8:01pm May 15, 2014 8:01pm
Anyone here watch the indexes? DXY and EUR?
Ghost Rider - WWTBMD?
  • #898,349
  • May 15, 2014 8:08pm May 15, 2014 8:08pm
After the daily close here, especially after the close we have confirmed some major support and price has fallen into a range and will look to target the highs again and this is the perfect opportunity as it still with the trend. Normally when you trade price action and ranges you want to go with the overall direction. Looking at about a medium term trend on the daily we have bulls still intact and after the pin bar today it is a perfect opportunity for a buy stop.
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All posts are my personal opinion
  • #898,350
  • May 15, 2014 8:11pm May 15, 2014 8:11pm
Quoting Forexia
{quote} Nice to see somebody who trades my tf.
hhahaha, just like i said.. that was a bad decision, LOL. Luckily i cut it before it reached my SL, changed it to sell, and set 2 trap under it. [one cancelled (not enough free margin) and another were executed]
  • #898,351
  • May 15, 2014 8:16pm May 15, 2014 8:16pm
After the daily close here, especially after the close we have confirmed some major support and price has fallen into a range and will look to target the highs again and this is the perfect opportunity as it still with the trend. Normally when you trade price action and ranges you want to go with the overall direction. Looking at about a medium term trend on the daily we have bulls still intact and after the pin bar today it is a perfect opportunity for a buy stop.
All posts are my personal opinion
  • #898,352
  • May 15, 2014 8:18pm May 15, 2014 8:18pm
Okay so somehow I double posted and wont let me delete second? Admin help!
All posts are my personal opinion
  • #898,353
  • May 15, 2014 8:20pm May 15, 2014 8:20pm
Quoting whiteout
{quote} and the others 9 will say the same about you and about each other's. funny isn'it ? i think that s/r are defined by price, history of price, and how all of this are perceived by the partecipants of the market, and some other things, but it doesen't matter. point is that you will get tons of different levels. same goes if you ask to draw some EW to EW traders or whatever you'd like, you will get tons of different ..waves. don't get me wrong, i don't use EW or BB or MA or anythingh else, just price time and - where available...
So we are saying the same thing then. I don't much care how "others perceive" it. I know how to. Now sure if you take let's say a Weekly chart, there are major and minor support areas that can be found over say 10 or 20 years back. But the major Pivot Points (some call them flip points I guess) are the ones I focus on. If I want minor ones I'll drop down in time frames for them and find the major ones on them.

Just curious, why is it lucky for you that others don't learn to read them? Is not 5+ trillion a day <<(very rough estimation there) enough to go around?
Ghost Rider - WWTBMD?
  • #898,354
  • May 15, 2014 8:21pm May 15, 2014 8:21pm
Quoting whiteout
{quote} and the others 9 will say the same about you and about each other's. funny isn'it ? i think that s/r are defined by price, history of price, and how all of this are perceived by the partecipants of the market, and some other things, but it doesen't matter. point is that you will get tons of different levels. same goes if you ask to draw some EW to EW traders or whatever you'd like, you will get tons of different ..waves. don't get me wrong, i don't use EW or BB or MA or anythingh else, just price time and - where available - volume. Just...
Yes noticed you had been absent some time in both places which was why I was so surprised to see you just pop up here. It sounds like you're doing well, take care.
  • #898,355
  • May 15, 2014 8:21pm May 15, 2014 8:21pm
Quoting albchr
{quote} So we are saying the same thing then. I don't much care how "others perceive" it. I know how to. Now sure if you take let's say a Weekly chart, there are major and minor support areas that can be found over say 10 or 20 years back. But the major Pivot Points (some call them flip points I guess) are the ones I focus on. If I want minor ones I'll drop down in time frames for them and find the major ones on them. Just curious, why is it lucky for you that others don't learn to read them? Is not 5+ trillion a day <<(very rough estimation...
If everybody has it mastered like him and a few others, no it wouldn't be. There's a lot of bullshitters on the forum but he's not one of them.
  • #898,356
  • May 15, 2014 8:25pm May 15, 2014 8:25pm
Quoting Kanzler
{quote} If everybody has it mastered like him and a few others, no it wouldn't be. There's a lot of bullshitters on the forum but he's not one of them.
I'm not assuming he is mate. I was just curious is all. I don't know him, he doesn't know me. No offense intended. Other than that, it seems we agree.
Ghost Rider - WWTBMD?
  • #898,357
  • May 15, 2014 8:34pm May 15, 2014 8:34pm
Quoting Kanzler
{quote} In the long term, I think we've either made the top already or are very close to it. Short term, rise to 1.3744ish and then fall to the lows again and possibly more. That would be my first trouble area though. What it's based on is my immature understanding (but still modestly profitable) understanding of price action, but that's a whole story in itself.
I see, the most important its profitable
I though we reached top 1.3966 already, before falling till 1.3672, but after it beats previous top (1.3966) last thursday, i had change my mind, now i am almost sure it should beat the previous top 1.3993, or atleast touch it, after that we should get big eurusd fall, firstival to 1.3, even to the 1.2 Like i said it still valid until beats 1.3643
(It's not an advise, use your own head..)
  • #898,358
  • May 15, 2014 8:35pm May 15, 2014 8:35pm
Anyone here
Ndz/u going 60 free some ++
  • #898,359
  • May 15, 2014 8:48pm May 15, 2014 8:48pm
Quoting albchr
{quote} Just curious, why is it lucky for you that others don't learn to read them? Is not 5+ trillion a day <<(very rough estimation there) enough to go around?
i would be very very very cautious with estimates when it comes to the size and the composition of the fx market, but even if is a huge market, fx like all the other markets* is still a zero sum game, is money that goes from the pocket of somone to the pocket of somone else, so if you wonna gain someone else should lose, can't work in another way.

*i am oversimplifying too much, but ehi 4 a.m here
Sometime the horizon disappear. Twitter: @_whiteout
  • #898,360
  • May 15, 2014 8:58pm May 15, 2014 8:58pm
Quoting egkid
Anyone here Ndz/u going 60 free some ++
whats the plan?
those who can, do. those who cant, talk about those who can
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