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  • #988,261
  • May 12, 2015 1:24am May 12, 2015 1:24am
Quoting hathor
{quote} just edited my previous post
just read. but those NFP, those are situation where liquidity is still available.... but 1 pip, 5 pip trailing is just meh. iimagin being hit 5 pip stop loss and right after the hit it shoots up 40 pips..... seen that shit before....
We live in a finite world with infinite possibilities.
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  • #988,262
  • May 12, 2015 1:30am May 12, 2015 1:30am
Looks like 1150 +- 50 pips is the consolidation level for the next move up. May test previous low from last week...... but i think it will hold.
  • #988,263
  • May 12, 2015 1:34am May 12, 2015 1:34am
Quoting 10cents
Looks like 1150 +- 50 pips is the consolidation level for the next move up. May test previous low from last week...... but i think it will hold.
indeed its a consolidation zone, but don't disregard the fact that H4 looks like a major Shoulder head shoulder formation where we are now forming the Right shoulder .... with us possibly going back below 1.10 to complete the pattern.
We live in a finite world with infinite possibilities.
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  • #988,264
  • May 12, 2015 1:37am May 12, 2015 1:37am
Quoting fxtyrant
{quote} just read. but those NFP, those are situation where liquidity is still available.... but 1 pip, 5 pip trailing is just meh. iimagin being hit 5 pip stop loss and right after the hit it shoots up 40 pips..... seen that shit before....
Yes, but it doesn´t matter if you have a 1 or 5 pips SL, slippage is always there. What we wanted to point out is that any serious ECN broker nowadays will let you do a trailing stop as close to the price as you want. This doesn´t say anything about it being filled without slippage though. Though non-news my 0.3 pips trailings are filled with mostly 0.1 pips slippage in 97% of the cases - that´s what the systems report to me as they log everything.
  • #988,265
  • May 12, 2015 1:38am May 12, 2015 1:38am
Quoting fxtyrant
{quote} calm your horses, Europe open would push this towards 1.12 there are options there that the London boys are smart enough to wash it before letting the EURUSD go down. mark my words. ive been in this game long enough to know 1.12 will trigger for sure. but I cannot guarantee 1.12 is going to be the perfect entry....
Thanks for a tip.
Stop going for the easy buck
  • #988,266
  • May 12, 2015 1:39am May 12, 2015 1:39am
Quoting geektrader
{quote} Yes, but it doesnt matter if you have a 1 or 5 pips SL, slippage is always there. What we wanted to point out is that any serious ECN broker nowadays will let you do a trailing stop as close to the price as you want. This doesnt say anything about it being filled without slippage though. Though non-news my 0.3 pips trailings are filled with mostly 0.1 pips slippage in 97% of the cases - thats what the systems report to me as they log everything.
well as a trader, even the perfect ECN broker who provides you with 0 pip trailing, you as a trader should use that. precisely because of slippage. its just stupid. 0.5millisecond is already enough to kill a market, especially when forex market is so algo driven.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #988,267
  • May 12, 2015 1:40am May 12, 2015 1:40am
FxTyrant M-Series Followers,
EURUSD Pending short @ 1.12 triggered, target at 1.1005.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #988,268
  • May 12, 2015 1:41am May 12, 2015 1:41am
It may meet resistance in 1.1155 - 1.1164 zone for a drift down to 1.1122 zone, after which bounce to 1.1196 is anticipated.
  • #988,269
  • May 12, 2015 1:42am May 12, 2015 1:42am
Quoting fxtyrant
{quote} indeed its a consolidation zone, but don't disregard the fact that H4 looks like a major Shoulder head shoulder formation where we are now forming the Right shoulder .... with us possibly going back below 1.10 to complete the pattern.
I have had instances whereby the consolidation range goes 100 pips each way, especially on larger TF, so 1.10 is a possibility no doubt.

I actually think Euro may just grind up higher and higher. There is a gap at 1.2 yet to be filled...... GBP has a gap below which is getting further and further away, all these large gaps get filled eventually. So ultimately it is a guess of which gap we go for first...... i think the Euro upper gap looks more likely over the next few weeks. The upper Euro gap also coincide with the resistance on the bi weekly chart.
  • #988,270
  • May 12, 2015 1:43am May 12, 2015 1:43am
Quoting 10cents
{quote} I have had instances whereby the consolidation range goes 100 pips each way, especially on larger TF, so 1.10 is a possibility no doubt. I actually think Euro may just grind up higher and higher. There is a gap at 1.2 yet to be filled...... GBP has a gap below which is getting further and further away, all these large gaps get filled eventually. So ultimately it is a guess of which gap we go for first...... i think the Euro upper gap looks more likely over the next few weeks. The upper Euro gap also coincide with the resistance on the bi...
Gaps don't always fill. if you want to talk about gaps. how about USDJPY gap around 98-100?

as for the EURUSD griding higher and higher, I dunno... perhaps... but one thing is for sure this thing is bearish so wtever grind higher is only a correction from the EURUSD fall from 1.4 down to 1.05....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #988,271
  • May 12, 2015 1:49am May 12, 2015 1:49am
Quoting fxtyrant
{quote} Gaps don't always fill. if you want to talk about gaps. how about USDJPY gap around 98-100? as for the EURUSD griding higher and higher, I dunno... perhaps... but one thing is for sure this thing is bearish so wtever grind higher is only a correction from the EURUSD fall from 1.4 down to 1.05....
I am talking about gaps on Daily or higher, not anything below. There are lots of small gaps that don't get filled. All big gaps from years back of data that i can retrieve all got filled eventually, sometimes it goes much lower or higher before coming back to fill the hole.

Currently i can't spot any gaps around 100 Jpy on the daily, may be different data or stuff i don't know. There is one around 112 - 113 level which coincides with Euro's 1.2 gap.
  • #988,272
  • May 12, 2015 1:50am May 12, 2015 1:50am
Quoting 10cents
{quote} I am talking about gaps on Daily or higher, not anything below. There are lots of small gaps that don't get filled. All big gaps from years back of data that i can retrieve all got filled eventually. Currently i can't spot any gaps around 100 Jpy on the daily, may be different data or stuff i don't know.
yea the USDJPY gaps im referring to could even be seen on the weekly charts.... have a look yourself.

Daily chart USDJPY 31 Oct 2014, close at 112.313, 3 Nov 2014, Open at 112.961, Low at 112.573, Gap there for about 26 pips.....
and another one.
Daily chart USDJPY 29 Aug 2014, close at 104.051, 1 Sep 2014, Open at 104.180, Low at 104.101, Gap there for another 5 pips....

as evidenced the next candle lows never managed to fill the gap of previous candle closes.... so yes my theory stands... not all gaps are filled.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #988,273
  • May 12, 2015 1:54am May 12, 2015 1:54am
Quoting fxtyrant
{quote} well as a trader, even the perfect ECN broker who provides you with 0 pip trailing, you as a trader should use that. precisely because of slippage. its just stupid. 0.5millisecond is already enough to kill a market, especially when forex market is so algo driven.....
Not everyone is a manual mid-term trader, cant accept that? I make my money scalping the market like crazy, all automated. And as long as I make money, I honestly dont care about 0.1 pips slippage on a 0.3 pips trailing stop nor what anyone thinks I should do or not or he thinks is stupid or not - I give a damn about that, OK?
  • #988,274
  • May 12, 2015 1:55am May 12, 2015 1:55am
Quoting fxtyrant
{quote} yea the USDJPY gaps im referring to could even be seen on the weekly charts.... have a look yourself. Daily chart USDJPY 31 Oct 2014, close at 112.313, 3 Nov 2014, Open at 112.961, Low at 112.573, Gap there for about 26 pips.....

Yes there is one at 112 level from the overnight opening. You mentioned 98 - 100, so far no gaps on that lvl from my charts.
  • #988,275
  • May 12, 2015 1:57am May 12, 2015 1:57am
Quoting fxtyrant
{quote} yea the USDJPY gaps im referring to could even be seen on the weekly charts.... have a look yourself. Daily chart USDJPY 31 Oct 2014, close at 112.313, 3 Nov 2014, Open at 112.961, Low at 112.573, Gap there for about 26 pips..... and another one. Daily chart USDJPY 29 Aug 2014, close at 104.051, 1 Sep 2014, Open at 104.180, Low at 104.101, Gap there for another 5 pips.... as evidenced the next candle lows never managed to fill the gap of previous candle closes.... so yes my theory stands... not all gaps are filled.

Look at what you wrote, you were asking me to look at the gap at 98 - 100.

Then you talk about 112, yes there is a gap there.

So are you talking about 98 or 112?
  • #988,276
  • May 12, 2015 1:58am May 12, 2015 1:58am
If you want a healthy free fall then it would be nice to get back @ 50% of the last move first - 1390-1130
  • #988,277
  • May 12, 2015 1:58am May 12, 2015 1:58am
EURUSD has power to touch 1.124x area before drop down
  • #988,278
  • May 12, 2015 1:59am May 12, 2015 1:59am
Quoting fxtyrant
FxTyrant M-Series Followers, EURUSD Pending short @ 1.12 triggered, target at 1.1005.
Hello Fxtyrant,
i am fairly new here, i have never posted a comment but always read all yours. i have been in forex for a little while now but still have a lot to learn. i must first of all thank you for your great advices and your support on this thread. you are one of a few traders if not the only one here who knows what Forex is all about.
i would like to follow you on your Fxbook, i would appreaciate if you can tell me how do go about it? is it possible to see the trades that you take daily?

Best,
  • #988,279
  • May 12, 2015 2:03am May 12, 2015 2:03am
Quoting 10cents
{quote} Yes there is one at 112 level from the overnight opening. You mentioned 98 - 100, so far no gaps on that lvl from my charts.
okay I was spitballing on the 98-100 level,
but I clarified on the same post the 2 gaps I see that never filled... your point?
cuz you said previously that gaps always get filled as supposed to the GBPUSD gap up on Monday.
and also the EURUSD gap down at 1.2....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #988,280
  • May 12, 2015 2:05am May 12, 2015 2:05am
Quoting fxtyrant
FxTyrant M-Series Followers, EURUSD Pending short @ 1.12 triggered, target at 1.1005.
Oh my, it does hit 1.12... #stunned.
 
Btw, hathor, can you recommend me to read any fundamental stuff for beginner, one i can read for free? I keep reading but i dont really understand articles online?
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