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  • #901,121
  • May 28, 2014 4:00am May 28, 2014 4:00am
Quoting saver0
{quote} I went Long as well. I think it was just the news that brought it down. Let's see how it plays out
I was just expecting around yesterday's high 1.3667 area or lower high @1.3655 zone.

I have now all EU, GU and last AU have buy positions, seems all at fibo extension on small time frame (M5-15). Still in my mind, where is SL???

PROredart is not PRO trader
  • #901,122
  • May 28, 2014 4:02am May 28, 2014 4:02am
Quoting PROredart
{quote} I was just expecting around yesterday's high 1.3667 area or lower high @1.3655 zone. I have now all EU, GU and last AU have buy positions, seems all at fibo extension on small time frame (M5-15). Still in my mind, where is SL???
Yup, I have my TP around @1.3655 as well. Might even be able to trail it higher depending on how it plays up
Focus, Patience, Determination & Order in chaos
  • #901,123
  • May 28, 2014 4:03am May 28, 2014 4:03am
Quoting saver0
{quote} I went Long as well. I think it was just the news that brought it down. Let's see how it plays out
You mean a fart?
Wherever you go, there you are.
  • #901,124
  • May 28, 2014 4:04am May 28, 2014 4:04am
Quoting Rtm
{quote} What time period on you trading on?! 2% per trade is very high if you are trading anything less than 100 pip moves? You get 10 losers streak at 2% that is 20% of account gone, could be just a couple months! EVEN 1% is a lot from trading perspective!!!
I don't understand what time period are you talking about, I started with 104.8$ on last tuesday, was up to 182.22$ yesterday, and had to close trades for upto 120$ last night, am back at 67$ now and only going for 0.01 lots and only go for 1-5$ profit per trade. hope that answers your question
  • #901,125
  • May 28, 2014 4:07am May 28, 2014 4:07am
Quoting Jcandle
{quote} Don't head and shoulder patterns usually occur at the end of a pre existing uptrend hence calling a top with a reversal pattern? That chart looks as if there is a pre existing downtrend in force.
In general it is a reversal pattern but if you assume recovery from 1.3611 low as a flag on bear trend, current development becomes a kind of reversal too... Psychology causing the pattern is more important than the predefined rules i think.
  • #901,126
  • May 28, 2014 4:17am May 28, 2014 4:17am
Quoting Almondeyed
{quote} In general it is a reversal pattern but if you assume recovery from 1.3611 low as a flag on bear trend, current development becomes a kind of reversal too... Psychology causing the pattern is more important than the predefined rules i think.
wrong, he is correct

http://www.babypips.com/school/middl...shoulders.html
If you are new to Forex? Say Goodbye to your account!!
  • #901,127
  • May 28, 2014 4:34am May 28, 2014 4:34am
Quoting milam
{quote} You mean a fart?
Haha yes, hope so.. hope it wasn't diarrhea
Focus, Patience, Determination & Order in chaos
  • #901,128
  • May 28, 2014 4:38am May 28, 2014 4:38am
Quoting KiwiTrada
{quote} wrong, he is correct http://www.babypips.com/school/middl...shoulders.html
I like this forum because of the freedom of opinion. I do not correct people because of any particular reason and usually do not correct people because well honestly its just job security, but when it comes to something so basic knowledge like a Head and shoulders pattern i just have to chime in for the rest of us with a shred of integrity.
Taking responsibility means believing that your outcomes are self-generated
  • #901,129
  • May 28, 2014 4:42am May 28, 2014 4:42am
Quoting saver0
{quote} Haha yes, hope so.. hope it wasn't diarrhea
Wherever you go, there you are.
  • #901,130
  • May 28, 2014 4:44am May 28, 2014 4:44am
Quoting saver0
{quote} Haha yes, hope so.. hope it wasn't diarrhea
All indicators are green for a long trade for me. Here is my trade. I have a pending Long about 20pips down just in case it shoots down for whatever reason. I'm expecting a 23% Fib retracement, at least. It looks to me like a bottom has been established for the bulls to take it to this Fib level
Attached Image (click to enlarge)
Click to Enlarge Name: screen.png Size: 25 KB
Focus, Patience, Determination & Order in chaos
  • #901,131
  • May 28, 2014 4:50am May 28, 2014 4:50am
looking at gold, had a down day, but still into the range......maybe she could go back up.....me think
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 96 KB
Wherever you go, there you are.
  • #901,132
  • May 28, 2014 5:08am May 28, 2014 5:08am
Quoting Jcandle
{quote} I like this forum because of the freedom of opinion. I do not correct people because of any particular reason and usually do not correct people because well honestly its just job security, but when it comes to something so basic knowledge like a Head and shoulders pattern i just have to chime in for the rest of us with a shred of integrity.
I didnt correct anyone about anything, I just pointed to another interpretation of a particular pattern, problem with most patterns is misinterpretation or personal perspective
not quite sure how to take your post, so will just leave it there
If you are new to Forex? Say Goodbye to your account!!
  • #901,133
  • May 28, 2014 5:10am May 28, 2014 5:10am
Quoting milam
looking at gold, had a down day, but still into the range......maybe she could go back up.....me think {image}
Good call, I just looked at the chart as well. Bullish harmonic pattern on both H4 and daily
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 87 KB
"Don't get caught trading wheat in the corn pit"
  • #901,134
  • May 28, 2014 5:20am May 28, 2014 5:20am
Quoting KiwiTrada
{quote} I didnt correct anyone about anything, I just pointed to another interpretation of a particular pattern, problem with most patterns is misinterpretation or personal perspective not quite sure how to take your post, so will just leave it there
I was actually thanking you for the backup since i really did not give enough evidence to prove my point because I'm not a fan of newbies etc etc..
Taking responsibility means believing that your outcomes are self-generated
  • #901,135
  • May 28, 2014 5:21am May 28, 2014 5:21am
Quoting saver0
{quote} All indicators are green for a long trade for me. Here is my trade. I have a pending Long about 20pips down just in case it shoots down for whatever reason. I'm expecting a 23% Fib retracement, at least. It looks to me like a bottom has been established for the bulls to take it to this Fib level {image}
Looking at the same here m8 long @ 3618
Heed the lessons of failure.
  • #901,136
  • May 28, 2014 5:21am May 28, 2014 5:21am
Quoting saver0
{quote} Yea, I just don't like the word gambler because in most cultures it has the negative connotation. Gamblers gamble away the money, play the house and always lose kind of meaning . Gamblers most of the time play knowing that they will lose just because of the addiction. My point is that even business is a gamble. Any kind of investment is a gamble. There is no guarantee. You could open up a nice grocery store in an ideal community and have done all the analysis, and the next day, Walmart could start building one of their stores right across...
the risk of anything with a unknown outcome is gambling. some take issue with their dad being called a motherfucker too. its all the same
those who can, do. those who cant, talk about those who can
  • #901,137
  • Edited 5:51am May 28, 2014 5:23am | Edited 5:51am
Eu is technically in to walk up the stairways. The Numbers to watch is 1.3655/60 thereafter 3735
Keep the Lights on then you can catch the rise from the dark.
  • #901,138
  • May 28, 2014 5:23am May 28, 2014 5:23am
Eu is technically in to walk up the stairways. The Numbers to watch is 1.3655/60 thereafter 3735
Keep the Lights on then you can catch the rise from the dark.
  • #901,139
  • May 28, 2014 5:25am May 28, 2014 5:25am
Quoting WillyWonka
{quote} Good call, I just looked at the chart as well. Bullish harmonic pattern on both H4 and daily {image}
Thanks for sharing, I placed a buy stop order just above the low of the previous low (the 24/4) with a SL just below today's low...
Wherever you go, there you are.
  • #901,140
  • May 28, 2014 5:28am May 28, 2014 5:28am
Quoting gatorinla
{quote} the risk of anything with a unknown outcome is gambling. some take issue with their dad being called a motherfucker too. its all the same
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