Attachments: EURUSD

EURUSD

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#943,621
Dec 13, 2014 6:56am Dec 13, 2014 6:56am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting PhAnTi'

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{quote} Problem is that a lot of traders in here are only focused to be or get short... Because they are being affected by some ''high impact'' members (not to call any names). We should always play the levels as PA suggests, doesnt matter if we go long or short, we want to play the levels to increase r:r ratio. Bears make pips, bulls do, pigs get slaughtered... Thats why trading is so much about timing. We rly have to wait for PA to approach at the key levels to trade well running and high reliable trades. Trading in between might be often a coinflip....

Ignored

two examples regarding the timing topic, just wait for price to approach to the levels.. the key is to have the patience to wait

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Hero calls followed by margin calls...

#943,622
Dec 13, 2014 6:59am Dec 13, 2014 6:59am

Dr.Phoenix
Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts

Quoting PhAnTi'

Disliked

nothing wrong having a green candle on the weekly within a bearish trend. Still as long as below 2600 Im bearish selling the upcoming two supply lvls with stop at 26010. Some more retrace to 252x/256x before wednesday and than the big dip with the needed news. Otherwise I will buy a retest of 2600 after breakout n reverse back down. Anyway next week will be the years last major movements that gonna decide the direction. >2600 or LL?... {image} {image}

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My 2 cents on Monday HOURLY, if there are no surprises. Just interesting.

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Best
D.P.

Hunting High and Low

#943,623
Dec 13, 2014 7:11am Dec 13, 2014 7:11am

palinco
| Membership Revoked | Joined May 2012 | 1,024 Posts

Generally, the view is EU is taking a long next week. Don't forget market makers are greedily hunting to gather the most profit.
The new week will come with surprises. You guys still holding long will be at the reeving side. Remember, this sudden bull for Euro has no significant factor backing it. It started when a good Unemployment data for US was posted two Fridays ago. Last Friday the data were bad for Us but instead of EU flying it suddenly dropped. This is the sign. The highest height for EU for now is 1.24955. It may be dropping to 1.21-1.20 in the coming weeks.
Trade wisely!

#943,624
Dec 13, 2014 7:13am Dec 13, 2014 7:13am

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

Quoting PhAnTi'

Disliked

lol....scam.. {image}

Ignored

They forgot to print a "U" in their name ...

Fix up, trade sharp ...

#943,625
Dec 13, 2014 7:15am Dec 13, 2014 7:15am

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

Quoting PhAnTi'

Disliked

{quote} two examples regarding the timing topic, just wait for price to approach to the levels.. the key is to have the patience to wait {image} {image}

Ignored

Very nice charts, even though they are not E/U charts

Btw, I hope you are still fine after that what ottmanslap lol-guy "did to you" rofl

Fix up, trade sharp ...

#943,626
Dec 13, 2014 7:25am Dec 13, 2014 7:25am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting Hickson

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{quote} Very nice charts, even though they are not E/U charts Btw, I hope you are still fine after that what ottmanslap lol-guy "did to you" rofl

Ignored

he is in best company...^^

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Hero calls followed by margin calls...

#943,627
Dec 13, 2014 7:37am Dec 13, 2014 7:37am

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

Quoting PhAnTi'

Disliked

{quote} he is in best company...^^ {image}

Ignored

Looks like a collection of small egos there

Fix up, trade sharp ...

#943,628
Dec 13, 2014 11:37am Dec 13, 2014 11:37am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,124 Posts

Quoting gatorinla

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closing some shorts, ass covered. some mixed signals.. i will try to enter next week on a break. just in case oil drop has done what a fed ~~cut~~ will. w/o the need o~~f cutting.~~

Ignored

raising

those who can, do. those who cant, talk about those who can

#943,629
Dec 13, 2014 11:39am Dec 13, 2014 11:39am

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,124 Posts

Quoting gatorinla

Disliked

closing some shorts, ass covered. some mixed signals.. i will try to enter next week on a break. just in case oil drop has done what a fed cut will. w/o the need o~~f cutting.~~

Ignored

raising (brain fart lack of sleep)

those who can, do. those who cant, talk about those who can

#943,630
Dec 13, 2014 11:39am Dec 13, 2014 11:39am

rehorst
| Joined Dec 2011 | Status: Trader | 618 Posts

Quoting PhAnTi'

Disliked

{quote} Problem is that a lot of traders in here are only focused to be or get short... Because they are being affected by some ''high impact'' members (not to call any names).

Ignored

Yep, the wise and experienced traders here calling for a deep dive affected me. That's fine. I'm learning. My trading system involves mostly scalping. Last week I bagged 1.51%. This week I avoided longs and therefore made very little. "To scalp or not to scalp? That is the question." I think, yes, for my personality and Forex experience level.

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#943,631
Dec 13, 2014 12:18pm Dec 13, 2014 12:18pm

janpec1000
Joined Nov 2012 | Status: Trader | 12,211 Posts

Quoting gatorinla

Disliked

{quote} raising (brain fart lack of sleep)

Ignored

You are expecting clear message next week from FED about rate hikes for 2015 Q2+? I dont expect few months ahead such clear message. Might be wrong though.

#943,632
Dec 13, 2014 12:24pm Dec 13, 2014 12:24pm

infinitus
Joined Jun 2010 | Status: zero | 20,603 Posts

Quoting PhAnTi'

Disliked

lol....scam.. {image}

Ignored

#943,633
Dec 13, 2014 12:39pm Dec 13, 2014 12:39pm

janpec1000
Joined Nov 2012 | Status: Trader | 12,211 Posts

Quoting PhAnTi'

Disliked

lol....scam.. {image}

Ignored

Haha only notitced now. Brilliant. I guess thats whats called dynamic fixing.

#943,634
Dec 13, 2014 1:35pm Dec 13, 2014 1:35pm

Pmd1963
| Joined Feb 2014 | Status: Trader | 112 Posts

What is the most likely future direction of the market?

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#943,635
Dec 13, 2014 1:43pm Dec 13, 2014 1:43pm

Aws1962
Joined Jul 2014 | Status: Alive | 310 Posts

EURUSD techs... RSI/stochs rising, bullish engulfing and off large multi year trendline.

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#943,636
Dec 13, 2014 2:30pm Dec 13, 2014 2:30pm

Hickson
Joined Jan 2014 | Status: Less is more ... | 9,059 Posts

Hm, that could become an interesting week with FOMC ahead on Wednesday. Expecting some volatility before the end of the year. Will give my best to be flat or with stops at BE before this mess.

Fix up, trade sharp ...

#943,637
Dec 13, 2014 3:34pm Dec 13, 2014 3:34pm

Pmd1963
| Joined Feb 2014 | Status: Trader | 112 Posts

Quoting Aws1962

Disliked

EURUSD techs... RSI/stochs rising, bullish engulfing and off large multi year trendline. {image}

Ignored

Agree with your technical assessment, although maybe we still have $1.20 as a bottom to this technical picture.

However, the current overall trend is clear, and reversal strategies are low probability trades, so I just don't do it. Used to do it, but my account grew bigger by just trading with the trend. Also, there is a fundamental reason for the current trend: the US economy is recovering and there is a possibility The Fed will tighten. The Euro area economy is heading for a Japanese lost decade (or two or three), and is about to embark on some form of quantitative easing. For the present, the monetary policy paths between EUR and USD could not be more divergent.

Of course, none of us here can predict the future. I am just going with the MOST LIKELY scenario by trading with the trend, which, for the current moment, is well supported by the fundamental outlook. And markets tend to trend for longer than most people think possible. But if it suddenly looks like there is going to be some sort of change to the fundamental outlook, such as The Fed suddenly becoming more dovish, or the ECB becoming more hawkish, or the drastic drop in the price of oil sends unforeseen shock waves through the interrelated markets, or some other black swan event occurs to alter the fundamentals, then I will adjust my trading accordingly.

At any rate, the most important factor in trading is money management, so if we both do that well, then we will both make money in the long run, regardless of our differing opinions. If we get a stronger reversal signal, like another up week, supported by the fundamentals, like a more dovish Fed due to the drop in the price of oil (or any other reason), then I will join you in your bullish position. I just won't be as early to the party. Until then I will trade with the trend, as that is what works best for me. Best of luck.

#943,638
Dec 13, 2014 5:49pm Dec 13, 2014 5:49pm