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  • #21
  • Nov 4, 2014 8:39pm Nov 4, 2014 8:39pm
EUR-USD - The fractal short @2580 which by the way was a bounce off from another level, looks very inviting but remember, currencies after 12:00 PM EST are literally stalled. Unless you go bracket trading, chances are you trade will carry on to the Asia Session. If you're trading with a market maker, the spread can kill your trade, especially on the stops.
Peace
  • #22
  • Nov 4, 2014 8:51pm Nov 4, 2014 8:51pm
Quoting feb2865
{quote} No I didn't trade that was just some sort of example on how I should trade if I were on EUR/USD. The only trade I have in currencies running now is on yen since October 30 - kinda swing trade. You were short before the bull run?
Yes was short before it at 25. Was expecting bouncing around between 15-35 at the most but didn't see bull set up at all. Holding atm.
Enter Signature
  • #23
  • Nov 4, 2014 8:55pm Nov 4, 2014 8:55pm
Quoting feb2865
EUR-USD - The fractal short @2580 which by the way was a bounce off from another level, looks very inviting but remember, currencies after 12:00 PM EST are literally stalled. Unless you go bracket trading, chances are you trade will carry on to the Asia Session. If you're trading with a market maker, the spread can kill your trade, especially on the stops.
Have also been learning this in the last few weeks. It also seems anything after 10 AM EST is suspect. Unless perhaps your trade is supported by H4 trend. Best is Euro/London sessions up till 10 AM EST NY (at least for my day trading style).
Enter Signature
  • #24
  • Nov 4, 2014 9:15pm Nov 4, 2014 9:15pm
Quoting san99
{quote} Yes was short before it at 25. Was expecting bouncing around between 15-35 at the most but didn't see bull set up at all. Holding atm.
You got in front of a freight train brother!. The bears got killed big time. Market's value is sometimes embedded on price. Market is perceiving 1.2500 is too close to 1.18 which is a price we haven't see since the euro inception in 1999. This is more like institutional thinking than anything else. If you see the charts, look at the arrow and see some sort of spinning top (candlestick) It tells me that the market was looking for short but institutional money got away with it(long). I had a funny feeling that will happen. By the way, the market rejected 1.2500 about a month ago. I have no idea what the market will do tomorrow, but that's the kind of thinking every trader should develop. You want to swim with the sharks, then think like a shark.

If the market breaks the 1.2500 level, oh boy. We could have 1.200 or something close by the end of the year. Some hedge fundies closing shop. If the report on Friday comes bullish, then we might have another story.
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Peace
  • #25
  • Nov 4, 2014 9:50pm Nov 4, 2014 9:50pm
chart is showing some strength on Eurusd .... Buy breakout , or Buy on retracement ... based on your market experience , which one is the most appropriate ?
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #26
  • Edited Nov 5, 2014 2:21am Nov 4, 2014 11:24pm | Edited Nov 5, 2014 2:21am
Dear Feb2865!

Nice to see you again!
Hope you feel good!!!

I think - with constantly fixed 2 pips spread on eur/usd pair it is possible to bracket trade this pair during "dead time".
... and a quick question - by trading "ping pong" during "dead time" are we still looking for fractals for entering the trade? Or entering is based on something else?

Take care!
  • #27
  • Nov 5, 2014 2:46am Nov 5, 2014 2:46am
Quoting landsat
chart is showing some strength on Eurusd .... Buy breakout , or Buy on retracement ... based on your market experience , which one is the most appropriate ?
Market is coming back to 1.2500 area, if I were you, I will sit on my hands. If anyone play the fractal yesterday, I will be collecting profits now
Peace
  • #28
  • Nov 5, 2014 2:57am Nov 5, 2014 2:57am
Quoting dim4ik42
Dear Feb2865! Nice to see you again! Hope you feel good!!! I think - with constantly fixed 2 pips spread on eur/usd pair it is possible to bracket trade this pair during "dead time". ... and a quick question - by trading "ping pong" during "dead time" are we still looking for fractals for entering the trade? Or entering is based on something else? Take care!
Hey Dim!, nice to see you buddy!. Last year was really rough health wise. Now I am a lot better, well you know how it is. I am alive hehehehehe. I'll be around here as long as health permits.

In dead time, just pure S/R will do the trick. You can fine-tune it and go down to 1 minute charts looking for fractals, but not necessary. It's good to know market makers are keeping the spread constant. It's about time don't you think brother?
Peace
  • #29
  • Nov 5, 2014 3:10am Nov 5, 2014 3:10am
EUR/USD needs to show for real that is wanting to break the 1.2500 level. Otherwise I won't touch that pair. Don't forget a couple of days ago, bears got killed big time. Don't plat the market sucker's game. Institutional trading is hunting like a hungry shark around that level , trust me.
Peace
  • #30
  • Nov 5, 2014 5:10am Nov 5, 2014 5:10am
New trade on AUD/JPY. 1 hour charts.

That could be my last trade for the year...maybe.

I already squeezed the hell out of it. I am lowering my load to 5 contracts - If I lose, won't be a big deal.
Just in case, I trade currency futures - symbol AJY, same charts as you guys have in MT4 or whatever market maker you're trading with.
Attached Image (click to enlarge)
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Peace
  • #31
  • Nov 5, 2014 5:41am Nov 5, 2014 5:41am
feb

thank's for the answers ... i'm reading your post from previous thread ... i like the way you look at charts. its refreshing , even if im using almost (only one ema 20) naked chart .

Take care Feb ,

Landsat
Logic will take you from A to B Imagination will take you anywhere (A.E)
  • #32
  • Nov 5, 2014 6:10am Nov 5, 2014 6:10am
Market is bouncing off 1.2500 but too early to tell. Trade Balance @8:30 let's see if we have a push...if reports moves the market on a bull side we will have a elegantly screwed day across the board. I am looking at indices, oh boy...same story.
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Peace
  • #33
  • Nov 5, 2014 6:34am Nov 5, 2014 6:34am
This is how you trade.

The charts are just for illustration purpose only. Trade Balance is coming up, I won't advice to trade now.

You have the red line @1.2500 - obviously the market has been hovering around that price for long right?

Put your [email protected] well somewhere around that level. Avoid placing stops @ 1.2500 why? Many stops are parked in there. You need to be away from the heat zone, otherwise your stop will get hit and who knows? maybe the market resumes back to your target and you'll be banging your head against the wall...it happens..

Stop Loss (cover) @1.2505 17 pips

[email protected] -

Target @1.2453 35 pips

2:1 R/R..

That's it.....

That's applicable at any time frame, doesn't matter...Rinse, wash and repeat..

why 35 pips instead of 34? You need to pay the landlord remember? yes, your beloved broker will charge you no matter what...
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Peace
  • #34
  • Nov 5, 2014 6:38am Nov 5, 2014 6:38am
Sorry is ISM manufacturing Index...my bad....anyway, the market is on halt.
Peace
  • #35
  • Nov 5, 2014 9:05am Nov 5, 2014 9:05am
My current yen trade - depending on this week I'll trail my stop to the red line. Entry was on Oct 30 2014.
Attached Image (click to enlarge)
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Peace
  • #36
  • Nov 5, 2014 9:25am Nov 5, 2014 9:25am
Market bounced off 1.2500 area on 5 minutes charts...Notice the last candle is pushing up creating a wick, tells me either stops getting hit or institutional money is hunting stops. Futures is pushing downwards. I believe the market is calling short but there's not enough agreement. It's 10:18 AM EST chances are EUR/USD will get halted. I have my eyes on futures just in case. Bouncing off 1.2500 would be a nice trade short. I am not trading EUR/USD by the way. I have my hands full on the yen and futures. Too much cash parked at the yen , can't do it.
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Peace
  • #37
  • Nov 5, 2014 9:29am Nov 5, 2014 9:29am
My AUD/JPY trade looking good but I am still cautious - There's some support holding. - look at the arrows. This trade is a bonus for me if I win.
Attached Image (click to enlarge)
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Peace
  • #38
  • Nov 5, 2014 9:36am Nov 5, 2014 9:36am
Sorry my entry on AUD/JPY was @ 99.30 short I forgot I went market an I got a better price. I normally don't do market orders but hey, sometimes you just can't miss the bus. Market orders works both ways - sometimes you get a bad price and sometimes you get a "price improvement" In this case, I went in with 5 contracts - time&sales was around 50 contracts traded so really work in my favor. I was able to get a quick fill. Well, that's mumbo-jumbo talking on future's language...anyway, let's see if the market breaks support in anger hahahahaahaha that will be sweet.
Peace
  • #39
  • Nov 5, 2014 11:08am Nov 5, 2014 11:08am
Prepare for next Asian section
Attached Image (click to enlarge)
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BullShit BearShit
  • #40
  • Nov 5, 2014 11:46am Nov 5, 2014 11:46am
Quoting etrade360
Prepare for next Asian section {image}
Good call! I shorted [email protected] - let's see what happens...
Peace
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