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  • #4,581
  • Feb 23, 2015 1:25pm Feb 23, 2015 1:25pm
Quoting Ata-Turkoglu
{quote} IMO, 183.20 would be safe but from my 15 min. chart I can see it can go even lower towards 183.03..
I wonder if the previous resistance at 183.6 will now provide support?

Edit: My 1hr MACD shows no sign of divergence yet so we might still creep through 184 although I doubt it.
  • #4,582
  • Feb 23, 2015 1:27pm Feb 23, 2015 1:27pm
Quoting Ata-Turkoglu
{quote} Let's hope you are the early bird and not the early mice..
hehe.. my resistance at 183.999 for now still can hold.. hope can hold longer..
  • #4,583
  • Feb 23, 2015 1:28pm Feb 23, 2015 1:28pm
Quoting anima999
{quote} I wonder if the previous resistance at 183.6 will now provide support? Edit: My 1hr MACD shows no sign of divergence yet so we might still creep through 184 although I doubt it.
Hmmm... well you could be right too, but I see a strong support around 183.40 and will rely on that..
Focus only on what truly matters!
  • #4,584
  • Feb 23, 2015 1:33pm Feb 23, 2015 1:33pm
Quoting Ata-Turkoglu
{quote} Hmmm... well you could be right too, but I see a strong support around 183.40 and will rely on that..
Im thinking of first TP around 183.310-183.155
  • #4,585
  • Feb 23, 2015 1:43pm Feb 23, 2015 1:43pm
Quoting anima999
{quote} I'm waiting for the current hourly candle to close below 184 before shorting.
another few minute h1 to closed..
  • #4,586
  • Feb 23, 2015 1:53pm Feb 23, 2015 1:53pm
Short from 184 s/l 184.6 this is top of the range and has been tested few times if it holds here we will see more down worth a shot the r/r is very good. Selling at 184 is like buying at 176. Will add at 182 and 181 just like did with long from 176 with adds 177 178. Sellers are piling in here as evident from the weekly candles, big resistance level.
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  • #4,587
  • Feb 23, 2015 2:00pm Feb 23, 2015 2:00pm
Quoting thegmann
Short from 184 s/l 184.6 this is top of the range and has been tested few times if it holds here we will see more down worth a shot the r/r is very good. Selling at 184 is like buying at 176. Will add at 182 and 181 just like did with long from 176 with adds 177 178. Sellers are piling in here as evident from the weekly candles, big resistance level. {image} {image}
  • #4,588
  • Feb 23, 2015 2:01pm Feb 23, 2015 2:01pm
Quoting adelle
{quote} another few minute h1 to closed..
Now in short a few pips behind you.

Quoting thegmann
Short from 184 s/l 184.6 this is top of the range and has been tested few times if it holds here we will see more down worth a shot the r/r is very good. Selling at 184 is like buying at 176. Will add at 182 and 181 just like did with long from 176 with adds 177 178. Sellers are piling in here as evident from the weekly candles, big resistance level.
Not sure I'll be in that long as leaving trades overnight makes me nervous.
  • #4,589
  • Feb 23, 2015 2:02pm Feb 23, 2015 2:02pm
Quoting anima999
{quote} Now in short a few pips behind you. {quote} Not sure I'll be in that long as leaving trades overnight makes me nervous.
lower your lot sizes then, its all relative.
  • #4,590
  • Feb 23, 2015 2:04pm Feb 23, 2015 2:04pm
Quoting thegmann
{quote} lower your lot sizes then, its all relative.
I trade pennies as it is. I'm more interested in beer and skittles money than a risking loads to win loads.
  • #4,591
  • Feb 23, 2015 2:15pm Feb 23, 2015 2:15pm
Been unable to connect to the network this entire day due to computer issues. A sell order at 184.050 didn't quite get triggered for me, unfortunately. Managed to get a short at 183.80 for now.

Probably going to add one more on 184 (if it does retest) to complete my regular trading size.
  • #4,592
  • Feb 23, 2015 3:03pm Feb 23, 2015 3:03pm
I see why you are trying shorts with such tight stops.

Weekly candle will have a hidden divergence soon.
First bearish one on the RSI 2 in a loooong time

i would prefer to wait though, as could do 186xx first

Quoting anima999
{quote} I trade pennies as it is. I'm more interested in beer and skittles money than a risking loads to win loads.
day trading is for guaranteed income, once you get good enough (baby money)

weekly swing pyramids is for getting rich. Risk 10% to make 100%+++

(start baby account, $5000 max, first stop loss $500)
Be hopeful in a winning position, and fearful in a losing position.
  • #4,593
  • Feb 23, 2015 3:25pm Feb 23, 2015 3:25pm
Quoting Rag2RichesFX
I see why you are trying shorts with such tight stops. Weekly candle will have a hidden divergence soon. First bearish one on the RSI 2 in a loooong time i would prefer to wait though, as could do 186xx first {quote} day trading is for guaranteed income, once you get good enough (baby money) weekly swing pyramids is for getting rich. Risk 10% to make 100%+++ (start baby account, $5000 max, first stop loss $500)
10 % Risk ... I don't know, sounds like too much. Should be good enough with less if you have as much as 5 k to put at risk.
Fix up, trade sharp ...
  • #4,594
  • Feb 23, 2015 3:28pm Feb 23, 2015 3:28pm
I go for 10:1 at minimum. Start with very small money, less than 5% of total investment money)

Si is your first stop loss is actually 0.5% (10% of 5%)

it's all about not being afraid to scale higher in the most scalable industry on the planet.

$500 profit $5000
$1000 profit $10000
$2000 profit $20000

you get the point

could be done in 3 weekly swing trades... Like 2-3 months of PA
Be hopeful in a winning position, and fearful in a losing position.
  • #4,595
  • Feb 23, 2015 3:29pm Feb 23, 2015 3:29pm
Quoting Rag2RichesFX
I see why you are trying shorts with such tight stops. Weekly candle will have a hidden divergence soon. First bearish one on the RSI 2 in a loooong time i would prefer to wait though, as could do 186xx first {quote} day trading is for guaranteed income, once you get good enough (baby money) weekly swing pyramids is for getting rich. Risk 10% to make 100%+++ (start baby account, $5000 max, first stop loss $500)
I'm risking £0.1 per pip...very small stuff. Its my first live acount and only 3 weeks old. Prior to that I had 9 months demo.
  • #4,596
  • Feb 23, 2015 3:32pm Feb 23, 2015 3:32pm
Quoting anima999
{quote} I'm risking 0.1 per pip...very small stuff. Its my first live acount and only 3 weeks old. Prior to that I had 9 months demo.
Its not easy the learning curve for most is 2-5 years until profitability.
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Be hopeful in a winning position, and fearful in a losing position.
  • #4,597
  • Feb 23, 2015 3:33pm Feb 23, 2015 3:33pm
Truly, Buffet is on his death bed (ok that's a bad joke) still soaking in profits... Japanese driving equities to the moon.
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Be hopeful in a winning position, and fearful in a losing position.
  • #4,598
  • Feb 23, 2015 3:45pm Feb 23, 2015 3:45pm
While I wait for those mega trades to come along I may as well trade intraday.
  • #4,599
  • Feb 23, 2015 8:45pm Feb 23, 2015 8:45pm
At 183.8 it should, if bullish, continue up to 184.2/3 as part of a bullish triangle (or even a little higher towards 184.4/8 if in a rising channel), with a later fall back into 183 (rising channel) /182 (bullish triangle) before up towards 185 or beyond

Failure to do these things, or a loss again of 183.2 suggests it continues to be an illusion or at least a broader consolidation mess.
  • #4,600
  • Edited 9:21pm Feb 23, 2015 9:09pm | Edited 9:21pm
10:00am EST is when Yellen speaks.

Given her tendency to be dovish, and the rate hikes being expected soon for the dollar, any perceived hesitation may very well trigger the correction many of us are looking for. If not, and her sentiments go hawkish, we may not see another significant correction until 186.

If she does the usual and say nothing of importance, then flip a coin and watch how price reacts at current support/resistances (which were made plainly clear last week; you can see it with your naked eye.)

The Greece-Eurozone scene is largely over; time to shift our attention to usual matters like Russia, oil, nikkei, etc.

Also watching eur/usd. I expect maybe one more bullish move (maybe, maybe not) followed by a resumption of retesting 1.10. Now that the Greek hysteria is over, in the coming months (1~3 months) there's nowhere to go but down....unless things go awry with something major like the U.S. rate hiking predictions. Don't know about expecting massive profits in a swing trade short, but there's room to be had to easily snag up to a hundred pips or so.

Current positions: One short at 184, SL is confirmed break above with 184 being retested as support (absolute stop at 185). Took profit on my 183.80 with 10 pips in profit when price decided to go back up following NY session.
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