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  • #913,041
  • Jul 29, 2014 1:40pm Jul 29, 2014 1:40pm
Quoting fahadzaman66
my buy trade is open at 1.3433 so what is next move of eurusd you think it will go up i mean 1.3450 ? what is eurusd trends ?
IMO 3450 is a stretch in this environment. You may get back to break even in which case I would close the trade and start to look for a short entry. But there is sellers around 3470 so it may end up going that high.

All in all you never know and proper MM is the key (such a simple but tough concept for me and i'm sure many others).
  • #913,042
  • Jul 29, 2014 1:56pm Jul 29, 2014 1:56pm
Hikers Vs Holders- http://trendersgame.com/2014/07/29/hikers-vs-holders/
Twitter: @TrendersGame
  • #913,043
  • Jul 29, 2014 2:11pm Jul 29, 2014 2:11pm
Quoting MaxDoom
{quote} might not make it to next month then
i will keep this long. Also keeping ej 13644 as i posted earlierbe on eu noy yet. I will keep it longer
  • #913,044
  • Jul 29, 2014 2:22pm Jul 29, 2014 2:22pm
I do not have anything to do now rather than leaving my longs to be the way they are
The fragrance remains in the hands of those that gves the rose
  • #913,045
  • Jul 29, 2014 2:23pm Jul 29, 2014 2:23pm
[quote=okosodo;7638396]I do not have anything to do now rather than leaving my Shorts to be the way they are
The fragrance remains in the hands of those that gves the rose
  • #913,046
  • Jul 29, 2014 2:39pm Jul 29, 2014 2:39pm
For those if you who love EUR pairs. I have just taken a sell on EUR/CAD. My STOP loss is a close across the last high of the 50 fib level. I'll take profit near 1.4538

Attached Image
Banks scalp, why don't you?
  • #913,047
  • Jul 29, 2014 2:57pm Jul 29, 2014 2:57pm
in the current area it's not good to take any positions unless it's really short time scalping. Going long for a 40-50 pip reverse is just pure speculation...
Just be calm and wait for a real buy or sell signal it will come sooner or later.
My opinion is to hold shorts if you have a good entry above the 1.3450 levels. I wont take any long positions unless a good test of the resistance levels above 1.3450. Also too risky to scalp here imho no real opportunity, but if it's ur style go for it
  • #913,048
  • Jul 29, 2014 3:12pm Jul 29, 2014 3:12pm
Quoting CholiPop
For those if you who love EUR pairs. I have just taken a sell on EUR/CAD. My STOP loss is a close across the last high of the 50 fib level. I'll take profit near 1.4538 {image}
At the end of the 15m candle, the price closed across of my sl. So a loss of 6 pips.
Banks scalp, why don't you?
  • #913,049
  • Jul 29, 2014 3:15pm Jul 29, 2014 3:15pm
Attached Image


Do you see the candle with the ARROW? Well if the price closes under that price I would take a scalp sell. Until then I would buy right now and hold that buy until we have the CLOSE under on the 15m chart.
Banks scalp, why don't you?
  • #913,050
  • Jul 29, 2014 3:18pm Jul 29, 2014 3:18pm
Waiting for a bounce to short ... . Unfortunately, the bounces have been virtually nonexistent since about 1.36. It has been dropping, then consolidating in a narrow range, then dropping again. Ugh.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #913,051
  • Jul 29, 2014 3:22pm Jul 29, 2014 3:22pm
Quoting ZebraSquirl
Waiting for a bounce to short ... . Unfortunately, the bounces have been virtually nonexistent since about 1.36. It has been dropping, then consolidating in a narrow range, then dropping again. Ugh.
You are 100% correct about that. Imagine if we simply followed the simple rules of engulfing on the 1hr tf. You won't be longing, or holding a long position at all if we simply had no bias towards the long side.
Banks scalp, why don't you?
  • #913,052
  • Edited 3:38pm Jul 29, 2014 3:23pm | Edited 3:38pm
Quoting CholiPop
{quote} You are 100% correct about that. Imagine if we simply followed the simple rules of engulfing on the 1hr tf. You won't be longing, or holding a long position at all if we simply had no bias towards the long side.
Fortunately, there are other pairs to trade. EUR/CAD is a more interesting play right now ... .

Just can't bring myself to go long EUR/USD at this level; I don't see anything to support that, even as a day trade. It is now below every 200 period MA from 5 minutes on up to the daily, and you don't see that very often. Hate to be a Debbie Downer for the longs ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #913,053
  • Jul 29, 2014 3:39pm Jul 29, 2014 3:39pm
I have just closed my E/C scalp sell.
Attached Image (click to enlarge)
Click to Enlarge Name: selling.PNG Size: 164 KB
Banks scalp, why don't you?
  • #913,054
  • Jul 29, 2014 3:58pm Jul 29, 2014 3:58pm
Quoting FXSayWhat
{quote} Hey gatorinla, the FOMC 2-day meetings has alreay started and the statement won't be released till tomorrow. Tonight we will only have German Prelim CPI m/m on the news look, but i doubt it would make huge impact on the 1.3400 level since US ADP, US GDP Q2 forecast and FOMC minutes will too be released within the next 24 hours. I am not a big fan of such huge volatility, good luck.
not real concerned about it. news can go either way. then it can go the other way. its not a sin to be s/o. its the cost of doing business. the cost is cheap comparably to having one run. mickey D's throws away millions of hamburgers a year. it the cost of doing business.
those who can, do. those who cant, talk about those who can
  • #913,055
  • Jul 29, 2014 4:01pm Jul 29, 2014 4:01pm
Quoting ZebraSquirl
Waiting for a bounce to short ... . Unfortunately, the bounces have been virtually nonexistent since about 1.36. It has been dropping, then consolidating in a narrow range, then dropping again. Ugh.
Trade what you see and not what you want. I lost a few trades while not following that rule.
  • #913,056
  • Jul 29, 2014 5:10pm Jul 29, 2014 5:10pm
Quoting ZebraSquirl
{quote} Fortunately, there are other pairs to trade. EUR/CAD is a more interesting play right now ... . Just can't bring myself to go long EUR/USD at this level; I don't see anything to support that, even as a day trade. It is now below every 200 period MA from 5 minutes on up to the daily, and you don't see that very often. Hate to be a Debbie Downer for the longs ... .
Well said.
Banks scalp, why don't you?
  • #913,057
  • Jul 29, 2014 5:28pm Jul 29, 2014 5:28pm
Quoting gatorinla
{quote} not real concerned about it. news can go either way. then it can go the other way. its not a sin to be s/o. its the cost of doing business. the cost is cheap comparably to having one run. mickey D's throws away millions of hamburgers a year. it the cost of doing business.
Yeah the downside of having trade decision made rely on news event and fundamental factors is sometimes you would have up and downs regardless how correctly the analysis is. We can only overcome these downfalls with experience and money management skills.

There are many factors come into the play to determine how the price moves (technical, fundamental, market emotions and so on), but the bottom line is that it is the fundamental that moves the market in mid to long term, not the technical, not the market emotions. Choosing the correct approach and analysis toward fundamental would surely win edge over our trades in mid-term and long-term.

Just give two quick example, EU was struggling at its 1.3600 for more than 6 weeks and UJ was between its 101 and 103 for over 21 weeks, most the 1H> indictors were turned into garbage. So what broke the ice? It was the ECB rate cut that broke the EU 1.3600 support. Later EU again had trouble breaking 1.3470 – 1.3500 zone, what broke it? 1. ECB monetary policy 2. USD yield 3. US Manufacturing at its 4-year peak 4. 8-year low jobless 5. And today consumer confident at it 7-year high. 2-7 are all pointing to a solid QE exit in Oct. and possibly a earlier USD rate hike in 2015 while UJ went pass 102.00 with strong confident last night.

I guess what I am saying here is compare to you, I personally wouldn’t not concerned on these factors, I would (and suggest everyone to) use every bit of information available to gain edge over the trades.

As for me, in the next a few days, I would still pay very close attention on these major news while staying out of the volatility just to minimize my potential risk (or you called business cost). When dealing with these news, I favorite liquidity over volatility, and i would having many opportunities to make more approachable calls next week after dust settles down.

I appreciated you brought out the Mickey D example, I found it quite insightful, thank you.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #913,058
  • Jul 29, 2014 5:42pm Jul 29, 2014 5:42pm
Quoting FXSayWhat
{quote} {quote} {quote} {quote} {quote} For those who are still holding long, or waiting for a rebound, from technically perspective, i would say the 1.3400 level could be your last resort hope of rebounding. From the 1.3400 down, it would be a deep hole. As you can see, EU is moving further away from its July 2012 up trends on the weekly chart and also touch down on its 200 SMA at the 1.3400 level. {image} {quote} EU will continue receive major news from USD on top of the two better than expected news in this week. US Consumer confident number...
Well todays, again, weak bull action made go deeper in the charts. All the 34xx levels didnt produce any sign resistance. So i was actually starting to rethink my strategy and remove my tp on the shorts, cancel my buy limits in the 3380 area and just observe price. Todays news didnt kick volatility in the mix so.. we are just sinking lower with minor bumps along the way giving us a lot of room on the downside. Maybe 33xx wont give any correction at all?! BUT i do see a massive and long bullish divergence on 4h, this does keep me on my toes. I do agree that we are probably looking at a deeper dive in the current trend as we are going to break 3400! Its not easy but price only tell the story and that is that l
I don't even have a cool signature
  • #913,059
  • Jul 29, 2014 7:31pm Jul 29, 2014 7:31pm
Quoting Magicmen
{quote} I want to see 1.3397
If today is a regular day, it's possible. but not today, not until the FOMC tomorrow.

It's very unlikely EU go under 1.3403 before FOMC minutes.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #913,060
  • Jul 29, 2014 8:06pm Jul 29, 2014 8:06pm
Quoting KiwiTrada
{quote} yes always keep an eye on weekly, gu is above previous highs which puts her in a major battle zone, for now focusing on daily and that channel, because there is massive fresh ai below it, but the weekly prvious highs could build as new support, mainly why mentioned to be cautious either way, nfp week, generally destroys e & u pa so been riding kiwi aussie shorts and uc longs, they have stalled at resistance and uj also stalled at resistance, I would imagine eu traders been going crazy,2 weeks ago she ranged east all week, , most of last...
woke up surprise surprise another plop and immediately roll east
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