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  • #939,101
  • Nov 26, 2014 1:38pm Nov 26, 2014 1:38pm
Quoting pmmebids
{quote} its a shame when it does not reach and turns around on you. I have added some around these levels and still targeting the lows. tomorrow's reports might give us a push needed, otherwise liquidity will dry up a bit over thanksgiving. edit: draw 200 MA on 1 an hourly..
there is some volatility but we are slightly above where we were last night at this hour.

i am still selling this thing, although short term momentum is to the upside, there are some ST resistances here
Attached Image (click to enlarge)
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on the weekly I certainly did not get an entry, which I would have at 2285 ish. now, that point is void for me

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  • #939,102
  • Nov 26, 2014 2:13pm Nov 26, 2014 2:13pm
could be aggressive towards 2740 confluence area for breakout line retest
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Come with me if you want to live....
  • #939,103
  • Nov 26, 2014 2:44pm Nov 26, 2014 2:44pm
Hellow fellow traders,

I see consolidation for the time being with a high probability of a break down!

I believe this week is crucial to decide the trend of the pair

Good Luck!
Attached Image (click to enlarge)
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  • #939,104
  • Nov 26, 2014 2:50pm Nov 26, 2014 2:50pm
Quoting fxtyrant
Guess what folks!!! im back!!!
Welcome back....
  • #939,105
  • Nov 26, 2014 2:50pm Nov 26, 2014 2:50pm
The green bag still look very firm and solid. Gold has lost it's shine. The big trend is down.
I'm shorting this pair.
  • #939,106
  • Nov 26, 2014 2:57pm Nov 26, 2014 2:57pm
Quoting wimschutz
Howdy all, I am trading the big picture for the first time in my life. Decided to short this pare. How would one know when the trend down on a daily or weekly chart is not valid any more?
Let's see...you are not telling much about your modus operandi but you ask questions...(are you a politician in real life ). What made you go short? What is your RR ratio? How many pips can you afford to lose before you get the burning sensation up the bum?
Why sell the bottoms when you can buy the tops...
  • #939,107
  • Edited 3:28pm Nov 26, 2014 3:17pm | Edited 3:28pm
Quoting JustAndy
{quote} Let's see...you are not telling much about your modus operandi but you ask questions...(are you a politician in real life ). What made you go short? What is your RR ratio? How many pips can you afford to lose before you get the burning sensation up the bum?
Sorry for asking. Not into politics. I am a Mechanical Engineer in real life. The weekly chart made me decide to go short. My RR ratio is 1:2 . Entered just 1 lot size at 1.25052, Short, My stop loss is 75 pips trailing away. If the price go down to 1.2480, I will scale in with another one lot size. Looking at the daily chart for entries. I do not believe any indicators. Using the 50% fib retracement as entry. I used to be a short term scalper. Made good money, Lose good money. Because the demand in my active day job is increasing, I have to look at longer TF. Still not comfortable with it. Lacking experience. LOL!
  • #939,108
  • Nov 26, 2014 3:26pm Nov 26, 2014 3:26pm
Quoting sidali2000
{quote} instead of posting videos here go ahead and show us your account activity! better no !
hmmmm, no. my account is none of your business. show me your iq test results.
those who can, do. those who cant, talk about those who can
  • #939,109
  • Nov 26, 2014 3:29pm Nov 26, 2014 3:29pm
Quoting fxmasterdxb
Hellow fellow traders, I see consolidation for the time being with a high probability of a break down! I believe this week is crucial to decide the trend of the pair Good Luck! {image}
Looking at the daily actually, I see your point too
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 28 KB
Click to Enlarge Name: EURUSDDaily1.png Size: 29 KB
Click to Enlarge Name: EURUSDH4.png Size: 33 KB
Come with me if you want to live....
  • #939,110
  • Nov 26, 2014 3:42pm Nov 26, 2014 3:42pm
Looks like it's stopping at the 1.25063 line, which if you look at the fib retrace for this spot is dead on the 61.8 retracement line, just saying, seems to be a point of interest. I'd look for the reversal of the up trend here.

Is this correct for the fib or someone seeing something else? I'm not a technical trader so the charts and points are new to me. This is on the daily chart,
Attached Image (click to enlarge)
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  • #939,111
  • Nov 26, 2014 3:52pm Nov 26, 2014 3:52pm
Quoting Eda
Looks like it's stopping at the 1.25063 line, which if you look at the fib retrace for this spot is dead on the 61.8 retracement line, just saying, seems to be a point of interest. I'd look for the reversal of the up trend here. Is this correct for the fib or someone seeing something else? I'm not a technical trader so the charts and points are new to me. This is on the daily chart, {image}
Price is bouncing off the 70.7 retracement and not the 61.8, this one was broken already, also imo you should add 78.6 Ret to your Fib tool..
Cheers.
We watch the charts from every angle so you don't have to!!
  • #939,112
  • Nov 26, 2014 4:04pm Nov 26, 2014 4:04pm
Are you sure you're looking at the daily chart, on the hourly the plot for the 61.8 is a bit off 71 is correct but it would seem like its about to raise off the 61.8 then,
  • #939,113
  • Edited 4:34pm Nov 26, 2014 4:10pm | Edited 4:34pm
Quoting Eda
Are you sure you're looking at the daily chart, on the hourly the plot for the 61.8 is a bit off 71 is correct but it would seem like its about to raise off the 61.8 then,
All my charts show that .618 is broken, price bounced off .707 and your chart shows precisely that, just because price hasn't closed above doesn't mean the area isn't broken and that is what many people don't see.
Plus, it's easier to analyse Tfs separately, in this case because you have a single swing visible on H4 almost all tfs have the same fib numbers but most times you have several swings making it difficult to pick the right swing to measure up and apply the respective fibs.
Anyway your analysis is good, was just a technical detail.
We watch the charts from every angle so you don't have to!!
  • #939,114
  • Nov 26, 2014 4:21pm Nov 26, 2014 4:21pm
And the major trend, while it is still in tack, will always be you're friend!
  • #939,115
  • Nov 26, 2014 4:33pm Nov 26, 2014 4:33pm
Quoting wimschutz
Howdy all, I am trading the big picture for the first time in my life. Decided to short this pare. How would one know when the trend down on a daily or weekly chart is not valid any more?
I, welcome onboard in the asylum.

I think that if you post your chart members would be able to help you?

Max

GN8
Don't be smart. Be rich.
  • #939,116
  • Nov 26, 2014 4:38pm Nov 26, 2014 4:38pm
Quoting maximinus
{quote} I, welcome onboard in the asylum. I think that if you post your chart members would be able to help you? Max GN8
I will do that in future. Thx Maximinus!
  • #939,117
  • Nov 26, 2014 6:49pm Nov 26, 2014 6:49pm
Lowered my tp for short from 1.247x to 1.2460. London closed at a higher level, indicating high probability of my shorts to be stopped out, therefore removed them (sls).

Since it is customary (sometimes obligatory) to post a chart, here is one:
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The Thief of Wall Street
  • #939,118
  • Nov 26, 2014 6:54pm Nov 26, 2014 6:54pm
Whats interesting is eu is close below the 2507 yesterday and lack of demand to pass it. Probably today got lower high (252x) due to thanksgiving day means low volatility and gonna test 2487. B
ad eu data could make 249x - 250x as 4h supply zone to breach 2487, direct to 2442
  • #939,119
  • Nov 26, 2014 7:26pm Nov 26, 2014 7:26pm
Quoting Sants
Whats interesting is eu is close below the 2507 yesterday and lack of demand to pass it. Probably today got lower high (252x) due to thanksgiving day means low volatility and gonna test 2487. B ad eu data could make 249x - 250x as 4h supply zone to breach 2487, direct to 2442
If it goes to 1.2442, I will buy you a coffee.
The Thief of Wall Street
  • #939,120
  • Nov 26, 2014 9:24pm Nov 26, 2014 9:24pm
Quoting Chicky
{quote} If it goes to 1.2442, I will buy you a coffee.
I still believe it will go to 2438 even down to 2320 before 1-Dec

Not to mention, 2581 is possible today.
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