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  • #922,961
  • Sep 11, 2014 8:38am Sep 11, 2014 8:38am
Quoting NoCoolNick
Okay, short 2938, SL 2944 tp 2918 (for now) Edit: have a pending short at 2951 just in case.
Why did you choose 2951?
used to be undecided but nowadays can't make my mind up
  • #922,962
  • Sep 11, 2014 8:39am Sep 11, 2014 8:39am
Quoting Pharm0r
{quote} I did- and I shorted. Thanks for your help.

i am sure u are scalping short on lower tf...if you look at usdidx you will not try short ....pro always look for buy opportunity at support or move with the breakout we are still in consolidation while daily forming swing support lower low....for me thats not a good sell
MY OPINION NOT FINANCIAL ADVISE
  • #922,963
  • Sep 11, 2014 8:41am Sep 11, 2014 8:41am
Quoting Imaywin
{quote} After 2 months and a half of relentless selling ?
true, but what has changed......

May 8th signaled a fundamental shift... the market is finding a new level, it would go there instantly apart from the big players want to trade it down to offload and get in position at various points.... when the market moves to a new level based on such a fundamental shift, normal TA does not apply (seeing that, oversold for ever and reverse patterns failing), retraces are smaller (seeing that). just like you I do not know where that level will end up, I have my ideas but nobody knows, what I do know is that it is safer to short the retraces until proven otherwise....

a good example of this is the bull run 2000 to 2008 (see monthly) only one significant retrace between 0.85xx and 1.60xx how many pips is that....

I am not against you , I just have a different view and method
  • #922,964
  • Sep 11, 2014 8:42am Sep 11, 2014 8:42am
Quoting NoCoolNick
{quote} Why?
Bears seem to be non existent with a wide open run to 2957 Daily R1 ... Would make a bull horny for the run up....
plus I have to shorts...lol and I feel if I voice it ...I going to be wrong
I'll pick up the crumbs don't need the whole pie
  • #922,965
  • Sep 11, 2014 8:43am Sep 11, 2014 8:43am
Quoting Imaywin
{quote} No it is serious tip.
What we see is consolidation, at best (if you are bullish), nothing more and nothing less. If we had hit the bottom tuesday we would most likely have been way above 1.3000 by now. Right now we are building a bearish pattern for coninuation down as the bulls are still not moving in and lifting this to the skies.. This week we will most likely make a new record in the number of red candle weeks in a row as this will be 9 weeks. If we take into account the low ATR right now and adjust it to the levels 2008-2013 the move down until now would be like over 3000 pips, that is bearish.. only a major demandzone/support will stop this train.
I don't even have a cool signature
  • #922,966
  • Sep 11, 2014 8:43am Sep 11, 2014 8:43am
Quoting donfriday
{quote} i am sure u are scalping short on lower tf...if you look at usdidx you will not try short ....pro always look for buy opportunity at support or move with the breakout we are still in consolidation while daily forming swing support lower low....for me thats not a good sell
Thank you

I'll add that to my advice drawer
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  • #922,967
  • Sep 11, 2014 8:44am Sep 11, 2014 8:44am
Quoting MaxDoom
{quote} true, but what has changed...... May 8th signaled a fundamental shift... the market is finding a new level, it would go there instantly apart from the big players want to trade it down to offload and get in position at various points.... when the market moves to a new level based on such a fundamental shift, normal TA does not apply (seeing that, oversold for ever and reverse patterns failing), retraces are smaller (seeing that). just like you I do not know where that level will end up, I have my ideas but nobody knows, what...
Great explanation Max.
I was trying to explain this to someone the other day but they couldn't understand that things had shifted...er..fundamentally. Their comment was that it was "unreasonable" for the market not to retrace... which was a fair enough comment under normal circumstances but since the goal posts have shifted, then the normal patterns just aren't working as before.
A pip is only worth it if you know how much you risked to earn it
  • #922,968
  • Sep 11, 2014 8:45am Sep 11, 2014 8:45am
Quoting NoCoolNick
{quote} What we see is consolidation, at best (if you are bullish), nothing more and nothing less. If we had hit the bottom tuesday we would most likely have been way above 1.3000 by now. Right now we are building a bearish pattern for coninuation down as the bulls are still not moving in and lifting this to the skies.. This week we will most likely make a new record in the number of red candle weeks in a row as this will be 9 weeks. If we take into account the low ATR right now and adjust it to the levels 2008-2013 the move down until now would...
Actually we are on a major support zone. But only few people seem to see it.
  • #922,969
  • Sep 11, 2014 8:47am Sep 11, 2014 8:47am
This'll sink down deeply...may be 2860/50 today!!
When Scalpers win, I lose and Vice varsa...
  • #922,970
  • Sep 11, 2014 8:51am Sep 11, 2014 8:51am
Quoting Goldflake
This'll sink down deeply...may be 2860/50 today!!
Why?
Forex is a losers game.
  • #922,971
  • Sep 11, 2014 8:51am Sep 11, 2014 8:51am
Didn't many mentioned Patience? Today is the day full of news, market will give an indication by the end of the day and tomorrow. Wiser here will wait until next week.
The Thief of Wall Street
  • #922,972
  • Sep 11, 2014 8:54am Sep 11, 2014 8:54am
Quoting MaxDoom
{quote} I just have a different view and method
oh no you dont....thats out of the question, dont you know that there is only one way to skin a cat....
Look Sharp/Trade Tight
  • #922,973
  • Sep 11, 2014 8:54am Sep 11, 2014 8:54am
Quoting mrcreosote
{quote} Why did you choose 2951?
Various reasons.. Upper trendline in a bearish triangle.. connecting the tops after the ECB rate cut, and the lows..
100 FIB expansion target of the 2896 low today and the high 2938 ish and the previous low at 2910 ish.. And some other fiblevels
AND that xx50 is a common psychic level that could help.
I don't even have a cool signature
  • #922,974
  • Sep 11, 2014 8:55am Sep 11, 2014 8:55am
Quoting trader121
{quote} Why?
Draghi speach could maybe contribute to that ...
  • #922,975
  • Sep 11, 2014 8:55am Sep 11, 2014 8:55am
Quoting Imaywin
{quote} Actually we are on a major support zone. But only few people seem to see it.
Exactly.. and if only a few see it... how many do not? If only a few is buying and many more is selling, what happens then?
I don't even have a cool signature
  • #922,976
  • Sep 11, 2014 8:55am Sep 11, 2014 8:55am
Quoting Pharm0r
{quote} Thank you I'll add that to my advice drawer {image}

dont worry you will look for that advice from your dustbin after you have burn it
MY OPINION NOT FINANCIAL ADVISE
  • #922,977
  • Sep 11, 2014 8:56am Sep 11, 2014 8:56am
I only see two solutions to go ahead:

1.2990 or higher
1.2850 or deeper

With Draghi ahead I would wonder to see something significant until then or even London tomorrow.
  • #922,978
  • Sep 11, 2014 8:57am Sep 11, 2014 8:57am
i like that triple top on H1 at 2950.
  • #922,979
  • Sep 11, 2014 8:58am Sep 11, 2014 8:58am
Quoting NoCoolNick
{quote} Exactly.. and if only a few see it... how many do not? If only a few is buying and many more is selling, what happens then?
Price falls.

Edit: I think you could rephrase it. Only few are buying at 2950...many more are buying at lower prices, and there are many sellers willing to sell.
A pip is only worth it if you know how much you risked to earn it
  • #922,980
  • Sep 11, 2014 8:59am Sep 11, 2014 8:59am
Just look at cable..euro will join cable..
When Scalpers win, I lose and Vice varsa...
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