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  • #910,781
  • Jul 16, 2014 5:40am Jul 16, 2014 5:40am
Quoting Rockerzeus
{quote} As i said for small retracement, i am already short above 1.39.
you are fine. You know what you are doing. I am sure it would bounce. good luck.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #910,782
  • Jul 16, 2014 5:42am Jul 16, 2014 5:42am
Quoting Vachus
The only thing i'm thinking about buying is EURAUD ... but still thinking
Doing some serious thinking, currently ...
"It's the Margin, Stupid."
  • #910,783
  • Jul 16, 2014 5:45am Jul 16, 2014 5:45am
Waiting for the bounce back signal to be stable. At this point of time, my account will dry up if i attempt any long or short.
zzz
  • #910,784
  • Jul 16, 2014 5:45am Jul 16, 2014 5:45am
Also the 1.3500 was the lowest EU went on the latest rate chance from ECB weeks ago. Not only it servers the key technical level on the chart, but also it servers a hug physiological level for EU. A meaningful break below 1.3500 would be huge as far as I concern.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #910,785
  • Jul 16, 2014 5:47am Jul 16, 2014 5:47am
Levels shown weeks ago...

Where does price stop?

3 levels without retrace, going for a 4th. My guess is this may retrace at least 1 or 2 levels from around 1.3513, if not more. Maybe 1.3502-ish.

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If one had followed the downward setup (which I didn't to my shame), he would be now very comfortable with an hypothetical 1st target (100%) achieved for 68 pips against 7.5, perhaps a 2nd (125%) for 100 pips against another 7.5 and going for an easy 3rd one at 150% which is located right at the 1.3513 level line. It had taken an extra order for 7.5 pips to achieve BE for every order, for example.

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I usually take trades between levels depending on how do the candles look like (ending, shape and size). I'm still studying this with a small real account and two demo accounts, trying to find my own take on all this.

My goal is to find precise points for setups which offer very tight S/L's. This would create huge risk/reward and easy BE's. Interaction between my levels and the points where price actually stops helps a lot.
Visit my Drumming & Percussion Blog - DrumsCult com
  • #910,786
  • Jul 16, 2014 5:47am Jul 16, 2014 5:47am
Quoting daddybom
Waiting for the bounce back signal to be stable. At this point of time, my account will dry up if i attempt any long or short. zzz
If you are thinking this way, I truly believe you should withdraw all your funds from your broker account and come back fresh after a few weeks. This shit is addictive, you won't be able to sit on your hands long enough and screw it up.

Oh yeah, been there done that...
  • #910,787
  • Jul 16, 2014 5:49am Jul 16, 2014 5:49am
Quoting math_GB
{quote} What is he talking about...? Who is YELLEN...? I feel offended when I think about the Turkish meaning of "Yellen"... And him repeating it gives me a stomachburn...
Yes its funny when you think about meaning in Turkish. My Mom walking around and asking " Yellen, yellendimi ne oldu?"
  • #910,788
  • Jul 16, 2014 5:49am Jul 16, 2014 5:49am
Quoting MaxDoom
{quote} good to see you, where have you been?
been starting my own buisness a call center here in Egypt but am back finally to forex again
  • #910,789
  • Jul 16, 2014 5:50am Jul 16, 2014 5:50am
Quoting Rockerzeus
{quote} Yes its funny when you think about meaning in Turkish. My Mom walking around and asking " Yellen, yellendimi ne oldu?"
Hahahah
  • #910,790
  • Jul 16, 2014 5:52am Jul 16, 2014 5:52am
Long nzd/usd 0.8696 1st tp 0.8734 sl 0.8680
  • #910,791
  • Jul 16, 2014 5:56am Jul 16, 2014 5:56am
Bullish butterfly on the hourly, may see a 30-40 pip bounce here
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Pride always comes before destruction.... -Proverbs 16:18
  • #910,792
  • Jul 16, 2014 5:58am Jul 16, 2014 5:58am
Quoting Goodvalley
Levels shown weeks ago... Where does price stop? 3 levels without retrace, going for a 4th. My guess is this may retrace at least 1 or 2 levels from around 1.3513, if not more. Maybe 1.3502-ish. {image} If one had followed the downward setup (which I didn't to my shame), he would be now very comfortable with an hypothetical 1st target (100%) achieved for 68 pips against 7.5, perhaps a 2nd (125%) for 100 pips against another 7.5 and going for an easy 3rd one at 150% which is located right at the 1.3513 level line. It had taken an extra order...
Another method indicate it as well. Reverse RSI shows that 1.3514 is where RSI(7) will be around 25.
  • #910,793
  • Jul 16, 2014 5:59am Jul 16, 2014 5:59am
Quoting math_GB
{quote} If you are thinking this way, I truly believe you should withdraw all your funds from your broker account and come back fresh after a few weeks. This shit is addictive, you won't be able to sit on your hands long enough and screw it up. Oh yeah, been there done that...
So true.
Wherever you go, there you are.
  • #910,794
  • Jul 16, 2014 6:01am Jul 16, 2014 6:01am
The current open M15 candle is doing damage to the recovery (very small) we had off of Middle s 2 daily pivot 1.35319 An engulf of that candle on the 15m candle would be a nice scalp buy. Until then sit on your hands and hold your shorts.
Banks scalp, why don't you?
  • #910,795
  • Jul 16, 2014 6:03am Jul 16, 2014 6:03am
Quoting Rockerzeus
{quote} Another method indicate it as well. Reverse RSI shows that 1.3514 is where RSI(7) will be around 25.
I agree with you on this point . But i will wait for the price to reach 1.3540 to open my position .
  • #910,796
  • Jul 16, 2014 6:03am Jul 16, 2014 6:03am
Quoting janpec1000
{quote} Hey dude nice Renko charts, or is it bar charts. Mind sharing your indie or link, just curious to check it out.
Renko is the only way to go for me. Took me a year and some big losses to figure that out! Cleans up the market noise nicely(no sideways price action and makes it easier to id support/res).

Can't send you an indi because EAs and indis are programmed to work together etc... M3 chart is a renko that adjusts to the speed of the market. It plays like an M5 to M15. I use this as my entry chart. Went to the linear shorter time frame chart because it is easier to identify entry triggers (head and shoulder, double top etc...) than Candles. Candles are great but sometimes messy.

The M8 chart is my MAP plays like an H1 to H4 depending on speed of market. I also consider standard daily candles.

The great part is support and resistance is self regulated. Appears and disappears based on price action. If interested I can post a few screen shots of my charts.

As far as a future long trade, waiting for a set-up on the GU. May take a day or so.

Have a great day!
  • #910,797
  • Jul 16, 2014 6:05am Jul 16, 2014 6:05am
Quoting MaxDoom
{quote} ouch ouch ouch ouch ouch
internal or external?
those who can, do. those who cant, talk about those who can
  • #910,798
  • Jul 16, 2014 6:06am Jul 16, 2014 6:06am
this the 5m tf

The blue uptrendline is the major one drawn on the weekly.......Not sure what will happen here......As a bull I would like price to break it just to make a false BO......we see.....time knows better...
Attached Image
Wherever you go, there you are.
  • #910,799
  • Jul 16, 2014 6:06am Jul 16, 2014 6:06am
Quoting FXSayWhat
Also the 1.3500 was the lowest EU went on the latest rate chance from ECB weeks ago. Not only it servers the key technical level on the chart, but also it servers a hug physiological level for EU. A meaningful break below 1.3500 would be huge as far as I concern.
Yes, I agree, 3500 is a level on my charts too. We'll see..
  • #910,800
  • Edited 6:37am Jul 16, 2014 6:15am | Edited 6:37am
Quoting gatorinla
{quote} lets see..void at 3701. possible a better long at 3527/3502. not a trade recommendation. just a cheaper price, using current pa.. if 3502 is broken then 3589 may be a good place to start looking for a short..of course after the bounce.. ..
it should have some more gas in the tank st.. at least 3527.5

disclaimer, on the break of 3502 the more conservative may be able to wait for 373x/4x. if when a bounce would happen as always is speculation. st bears do have a valid 3451 set up (its in yesterdays chart). above 3502 bulls have a valid one to 373x also.. and on the break of 3502, there is a bear norm in the same area. in normal times i would just sit back and wait for 373x or more, since both bears and bulls like this area. its not normal times, but i will be cautious.

r/r wise bears have to break 3502.. bulls will try to prevent this.. the mids for 3451 are on that chart and above 3502.. i have no way of knowing if or when we break or not break 3502.. i may be 100% wrong.. if i was and i am bearish.. a bounce in this area is not unexpected. if 3502 is unbroken 3589 seems better, and even here bulls have a valid setup to 373x. if 3502 is broken then the other places are in the same 37xx area,..how long after 3502 i dont know.. i did have some support at 3493 and 86 area,,
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those who can, do. those who cant, talk about those who can
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