In trading, you have to be defensive and aggressive at the same time
- #1,503
- Jul 5, 2014 3:40pm Jul 5, 2014 3:40pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote}bro i wasn't laughing at you don't take it the wrong way.
Ghost Rider - WWTBMD?
- #1,504
- Jul 5, 2014 3:42pm Jul 5, 2014 3:42pm
- Joined Jan 2014 | Status: Less is more ... | 9,059 Posts
{quote} But then, how mature is "I told you so"??Anyway, unless and until someone I respect, or he himself shows me why I wrong (even via PM), I'll just have to stick with my feelings on this one and I won't engage in any more public posts about it. As always, respect PT
Fix up, trade sharp ...
- #1,505
- Jul 5, 2014 5:08pm Jul 5, 2014 5:08pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} Ok, obviously you do not WANT to read "not saying "I told you so" as quoting the typical response by people who think they know it better, or you like to pick up every word and toss it back to someone if you are in the mood. Also, I have even sent you a chart when you did not believe I was in a trade earlier (which I normally would not do, because I do not think I have to prove everything I say - which I obviously CAN, if I want to and I made an exception for you due to respect.) Then I might ask how reliable someone can be, calling everyone...
You act as though that ONE comment is what I've based my "personal" opinion on. Pretty thin in my book. This has nothing to do with "my mood or what I want" sir. Much like trading, it's what I "see" not what I think.
Yes, I questioned you on a trade you claimed in my corner and asked for some proof. Having never seen a post of upfront analysis or a chart from you putting your views, right or wrong, on the line, I don't see the wrong there. This is after all, an interactive "trading" forum and, I don't know you. After a few more posts from you without it, I explained myself fully to you first, gave you time, and then unsubscribed from you so you could no longer post there. You then finally contacted me via PM with a link to a posted chart with the trade and I not only made a public apology, but welcomed you back to the corner. I do think that would demonstrate both my open mindedness and humility.
From that point on and, after our talks about credibility, I have once again never seen a post from you with your upfront analysis or trades on it. I HAVE however, seen many of your "after the fact" comments to others such as the one I questioned here. You claim it's "your brand of humor". Ok, I can dig that, when it's accompanied by the aforementioned type posts. But they're not, never, ever. Being this is a trading forum, once again I see no wrong in expecting such posts (at least once in a while) from members who seemingly have no problem commenting on other members. The "I told you so" thing was simply the last straw....for me. How others view you is their business. I Make no one "the bad guy" or anything else. We all do that all on our own. Bro...is short for brother. Commonly used here and all over the world as a general term of friendly greeting.
As far as "my friends" here? (which btw, we are not) They may question my involvement in matters like this every so often (honestly, I do myself at times), but they are my friends because they've EARNED my respect and hopefully, I should think, I've earned theirs as well. Integrity really is well respected in this house. Even over trading ability.
So, I've unsubscribed from you and now you from me. I'm comfortable with that and we can now leave it there and each move on respectively. This WILL be my last comments on the subject.
I wish you nothing but the very best going forward.
************************************
Once again Davit and guests here, my apologies for the waste of space with this dribble.
Ghost Rider - WWTBMD?
- #1,506
- Jul 5, 2014 9:00pm Jul 5, 2014 9:00pm
- Joined May 2009 | Status: step into liquid | 3,459 Posts
{quote} Set with my latest candles and wave you will see things lot clearer. I changed WR% to 14 default from 8.I get better signals I want to share something.I spent last 5hours studying this indicator.More I study more I love it. When price fails to break above -20 or below-80 suggests trend is topping out.When it breaks these levels wait for it to come back then enter. Look Yellow boxes H4 also happens to be in inside BB zone {image}
- #1,507
- Jul 6, 2014 12:54am Jul 6, 2014 12:54am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,508
- Jul 6, 2014 4:28am Jul 6, 2014 4:28am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
GU - Weekly
Here's what I'm looking at Davit. Put your BB's back on my chart. Please excuse the Fib clutter but kind of needed here to show the confluence areas.
Horizontals mark the ratio range I see and the basis of my plan to short the retrace. 1.72134 ratio high with a possible stretch to 1.72681. I will likely add shorts to those highs. Back to ratio low 1.69129 where PA will have to be observed for a reversal or continuation of the bull trend.
"As of now" the bull trend seems fully intact. Hence as I have been, I still treat shorts as a CT/retrace trade. But we'll see.
Here's what I'm looking at Davit. Put your BB's back on my chart. Please excuse the Fib clutter but kind of needed here to show the confluence areas.
Horizontals mark the ratio range I see and the basis of my plan to short the retrace. 1.72134 ratio high with a possible stretch to 1.72681. I will likely add shorts to those highs. Back to ratio low 1.69129 where PA will have to be observed for a reversal or continuation of the bull trend.
"As of now" the bull trend seems fully intact. Hence as I have been, I still treat shorts as a CT/retrace trade. But we'll see.
Ghost Rider - WWTBMD?
- #1,509
- Jul 6, 2014 10:22am Jul 6, 2014 10:22am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,510
- Jul 6, 2014 11:26am Jul 6, 2014 11:26am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} Hi Chris I think price hit upper channel and hopefully its heading lower channel at 6915'sh which you also pointed out on your fib Should price break upper channel it could go lot further up. Fundamentally GU bulls are overplayed.What ever Carney said its basically in the price now.We are not going to see Interest rate increase until end of the year. I wished I was not aggressive on my shorts....live and learn. regards {image}
Hang in there buddy. As HDA would say, a trade is not lost until it's over.
Ghost Rider - WWTBMD?
- #1,512
- Jul 10, 2014 9:36am Jul 10, 2014 9:36am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,513
- Jul 10, 2014 9:38am Jul 10, 2014 9:38am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,514
- Jul 10, 2014 9:55am Jul 10, 2014 9:55am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,515
- Jul 10, 2014 12:04pm Jul 10, 2014 12:04pm
7120 level held since June 30th Tough nut to crack {image}
We differ in our view of price-driving fundamental factors and we have different readings on the technicals because (I believe) of the time frames we're looking at. When I look at longer-term charts I see USD, Yen, and Euro as being relatively range-bound with bearish, bullish, and neutral biases respectively. Kiwi, Aussie, Loonie, and Pound, not coincidentally the currencies with the greatest rate of return, are all bullish having broken out of their respective consolidation ranges with respect to USD. I think their respective breakout levels should be viewed as strong support/resistance that should be bought/sold until they are breached at which point they can be sold/bought upon retesting from the other side. Cable specifically broke the monthly range between roughly 1.705 and 1.706 with supportive 1.70 right below it so I am still buy-only for this pair.
Here's another look at the USD Index, sitting right on top of support but it is still clearly (to my way of thinking) bearish so I'm not interested in going long USD until it hits support followed by a supportive candle, particularly not against high-yielding pairs like the Kiwi. I take last night's poor Chinese data barely moving the Kiwi down as yet more proof of ongoing Kiwi strength.
USD Index weekly chart
You can always make money tomorrow provided you don't lose it today.
- #1,516
- Edited 5:10am Jul 15, 2014 4:57am | Edited 5:10am
My long entry target for GBP/USD at 1.70625 and my EUR/GBP short entry target of 0.798 were right on ...maybe a little too exact -- I should probably be more generous with my entry targets in the future as happened with my EUR/NZD short at the same time. My entry range was between 1.55 and 1.551 plus 0.0005 for "overshoot" for EUR/NZD but I hadn't given any consideration to "undershoot" in this case because I'd expected a "double tap" to give me a second chance in all three cases but given the reactions at their respective levels it doesn't look like that will happen. It's always irksome to miss out on an entry at the top/bottom of a continuation range.
It's a bit premature with US Retail Sales and Fed Chair Yellen speaking in the next few hours, but EUR/USD looks to me like it's about to bottom and reverse again (ignore the thick green descending trendline)* with resistance between 1.3665 and 1.37. If it breaks above the descending RSI resistance line I'm thinking 1.385-1.3875 would be the likely target zone. Similarly, the USD Index is testing descending RSI support on the 8-hour chart and a rejection would confirm continued USD weakness though price-wise I'd rather see the rejection from 10,440 (it's at 10,420 now, rejected from 10,430 earlier) which would likely coincide with daily RSI hitting 50, but we'll see what happens after Yellen speaks.
EUR/USD daily chart
*Note: The thick green descending line is the monthly trend line from the 2008 high, but NetDania charts are not accurate enough to determine if we're currently just above or just below the line. Similarly, EUR/USD is either just above or right at the thin green rising weekly support line meaning either EUR/USD is currently at the end of a years-long wedge or it's already broken out to the upside. If it's still within the wedge it could break out either way.
It's a bit premature with US Retail Sales and Fed Chair Yellen speaking in the next few hours, but EUR/USD looks to me like it's about to bottom and reverse again (ignore the thick green descending trendline)* with resistance between 1.3665 and 1.37. If it breaks above the descending RSI resistance line I'm thinking 1.385-1.3875 would be the likely target zone. Similarly, the USD Index is testing descending RSI support on the 8-hour chart and a rejection would confirm continued USD weakness though price-wise I'd rather see the rejection from 10,440 (it's at 10,420 now, rejected from 10,430 earlier) which would likely coincide with daily RSI hitting 50, but we'll see what happens after Yellen speaks.
EUR/USD daily chart
*Note: The thick green descending line is the monthly trend line from the 2008 high, but NetDania charts are not accurate enough to determine if we're currently just above or just below the line. Similarly, EUR/USD is either just above or right at the thin green rising weekly support line meaning either EUR/USD is currently at the end of a years-long wedge or it's already broken out to the upside. If it's still within the wedge it could break out either way.
You can always make money tomorrow provided you don't lose it today.
- #1,517
- Jul 16, 2014 12:04pm Jul 16, 2014 12:04pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,518
- Jul 16, 2014 12:05pm Jul 16, 2014 12:05pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #1,519
- Jul 16, 2014 12:10pm Jul 16, 2014 12:10pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time