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  • #925,021
  • Sep 18, 2014 8:27am Sep 18, 2014 8:27am
Now we just need help from Scotland to get a nice pa above 1.2900 tomorrow.
  • #925,022
  • Sep 18, 2014 8:27am Sep 18, 2014 8:27am
Quoting gatorinla
{quote} i was hoping for a little higher. if 2904 allowed.
chickened out of my long @ 1.2899. now short 1.28926. sl 1.2899, tp 1.284
  • #925,023
  • Sep 18, 2014 8:29am Sep 18, 2014 8:29am
Quoting forexguy66
{quote} chickened out of my long @ 1.2899. now short 1.28926. sl 1.2899, tp 1.284
lucky you. when 2904 flexes. it will be a no fly zone like 2802.
those who can, do. those who cant, talk about those who can
  • #925,024
  • Sep 18, 2014 8:32am Sep 18, 2014 8:32am
Quoting Imaywin
Now we just need help from Scotland to get a nice pa above 1.2900 tomorrow.
Exactly, perfect short opportunities above 2920.
Everyone can see the chart, but only a few can actually read it.
  • #925,025
  • Sep 18, 2014 8:38am Sep 18, 2014 8:38am
Quoting MaxDoom
{quote} what makes you think that?
Before we can make a significant move upwards there needs to be consolidation, this hasn't happened, the small retracement from last night doesn't hold enough strength to give support. Worst case scenario this will give an opportunity to sell at a higher price and either breakeven or hold for more profit.
  • #925,026
  • Sep 18, 2014 8:38am Sep 18, 2014 8:38am
Guys be cautious, looks like I closed the trades not much too early.

Upmove risk: 1.2910, 1.293x, 1.295x, 1.297x.

I will be waiting for these values and then decide. If it will be only 1.2896 then I will miss this trade.
  • #925,027
  • Sep 18, 2014 8:42am Sep 18, 2014 8:42am
Quoting CandleStar
Guys be cautious, looks like I closed the trades not much too early. Upmove risk: 1.2910, 1.293x, 1.295x, 1.297x. I will be waiting for these values and then decide. If it will be only 1.2896 then I will miss this trade.
Why is there an upmove risk so high, if you can set a SL of 10 pips, for example.
Everyone can see the chart, but only a few can actually read it.
  • #925,028
  • Sep 18, 2014 8:45am Sep 18, 2014 8:45am
Quoting OnlineAddict
{quote} Exactly, perfect short opportunities above 2920.
Won't short but I will gladly close my speculative long opened today.
  • #925,029
  • Sep 18, 2014 8:45am Sep 18, 2014 8:45am
Quoting CandleStar
Guys be cautious, looks like I closed the trades not much too early. Upmove risk: 1.2910, 1.293x, 1.295x, 1.297x. I will be waiting for these values and then decide. If it will be only 1.2896 then I will miss this trade.
If I get shaken out of this lastest down leg no big deal. I reduced and took some profit off this leg to give me a no-loss trade (stop paid for). if it gets shaken out I get to re-try at a better price if not I've got a successful add into the existing short position. Either way - no worries.
  • #925,030
  • Sep 18, 2014 8:48am Sep 18, 2014 8:48am
IMO the previous high (1.29076 - which was made really fast) is just a trap for placing short SLs...pretty sure most trader thought it's the last high before new low..
And it would be a reasonable step from retailers to put their SL above that...
what do You think?
f(z)=z2+c
  • #925,031
  • Sep 18, 2014 8:49am Sep 18, 2014 8:49am
Quoting hathor
IMO the previous high (1.29076 - which was made really fast) is just a trap for placing short SLs... And it would be a reasonable step from retailers to put their SL above that... what do You think?
If Philly index isn't red, we might not see 2907 anymore today.
Everyone can see the chart, but only a few can actually read it.
  • #925,032
  • Sep 18, 2014 8:50am Sep 18, 2014 8:50am
And there in lies the trap.
  • #925,033
  • Sep 18, 2014 8:54am Sep 18, 2014 8:54am
Quoting OnlineAddict
{quote} If Philly index isn't red, we might not see 2907 anymore today.
Hah...data, news...all for one purpose. To cover the 'illusionists' real moves...
But that not means You can not be right. I'm just tired of this news/data hype...
f(z)=z2+c
  • #925,034
  • Sep 18, 2014 8:55am Sep 18, 2014 8:55am
Quoting hathor
IMO the previous high (1.29076 - which was made really fast) is just a trap for placing short SLs...pretty sure most trader thought it's the last high before new low.. And it would be a reasonable step from retailers to put their SL above that... what do You think?
I would agree with you if I was looking at just price action and not volume but I just don't see anyway for the price to stay above that high now, we'll need a further dip to gather strength. My system and they way I understand the market doesn't support your conclusion. Rather, I think they're trying to trap people into opening buys then dropping it on them.
  • #925,035
  • Sep 18, 2014 8:56am Sep 18, 2014 8:56am
Quoting gatorinla
{quote} i was hoping for a little higher. if 2904 allowed.
I've got 2902...but you're the guru.

Either way I'm short off it.
  • #925,036
  • Sep 18, 2014 9:04am Sep 18, 2014 9:04am
Quoting vaclarush
{quote} Before we can make a significant move upwards there needs to be consolidation, this hasn't happened, the small retracement from last night doesn't hold enough strength to give support. Worst case scenario this will give an opportunity to sell at a higher price and either breakeven or hold for more profit.
I was referring to your statement that there was "excessive volume" what volume information are you using that represents the fx market in eu?
  • #925,037
  • Sep 18, 2014 9:05am Sep 18, 2014 9:05am
Price in a weekly downtrend. Rate decision still pending. Few months to new year. Please raise hand if you think EUR will reverse anytime soon. It is sometimes that simple.
The price will go where it has to go.
  • #925,038
  • Sep 18, 2014 9:07am Sep 18, 2014 9:07am
Quoting gatorinla
a general question. what's the holy grail on a indi with overbought or oversold. what indi says this. and since 3992 w/o a repaint, whats the % of right verse wrong? on the right ones, how big was the move? and on the wrong ones, how big was the move? if one takes the time to honestly evaluate these. much less posting will be here.
still no answer
those who can, do. those who cant, talk about those who can
  • #925,039
  • Sep 18, 2014 9:08am Sep 18, 2014 9:08am
Quoting hathor
{quote} Hah...data, news...all for one purpose. To cover the 'illusionists' real moves... But that not means You can not be right. I'm just tired of this news/data hype...
News are here for better entries...even if Philly was the worst in 5 years and price spiked above 2920, I would still short it.
Everyone can see the chart, but only a few can actually read it.
  • #925,040
  • Sep 18, 2014 9:11am Sep 18, 2014 9:11am
Quoting MaxDoom
{quote} I was referring to your statement that there was "excessive volume" what volume information are you using that represents the fx market in eu?
I understand there's no central exchange to track all volume in the fx market. However, when the big players manipulate the market excessive volume, or the absense of volume can tell us their intentions when taking price action into consideration as well. I use a broker with an interbank feed, like most mt4 brokers have. We're looking for large differences in volume over time, not only one instance and not just minute changes so the vol info doesn't have to be exactly precise. Most retail traders have discounted the importance of volume in the fx market.
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