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  • #995,141
  • Edited 6:45pm May 31, 2015 6:16pm | Edited 6:45pm
Quoting xandi
{quote} yap..im selling it too...1st tp 1.0933 ps: if 1.0930 is broken, price can go test the bottom {image}
but...I have in mind that:
this is only a correction to the large directional bullish move we have seen frombeggining of april to 18th may...
so I just am expecting that this corrective move has not terminated until it checks again the previous bottom and who knows creating a new low..wave pros from FF, whats your opinion? Infinitus, Skyhok? the corrective move is terminated in 1-2-3 zigzag? can be....lets see, for me, if it goes lower than 1.0930,its the first step that this corrective move is not terminated...

thanks in advance, bros
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  • #995,142
  • May 31, 2015 6:18pm May 31, 2015 6:18pm
Quoting fxtyrant
still in my short trades. expecting to take profit this week.
Its amazing what a 2 week training course in Forex can do for a muppet (me)

I think we both know whats happening right now
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  • #995,143
  • May 31, 2015 6:20pm May 31, 2015 6:20pm
1.094x could be the next stop
Dangdut is a music of my country
  • #995,144
  • May 31, 2015 6:22pm May 31, 2015 6:22pm
Quoting fxtyrant
{quote} Great traders are even better to not have to handle loss but to manage drawdown so that they can turn a losing situation into a winning one. like i have demonstrated time and time again. its almost impossible to be great an both Entry and Exit of a trade. but if you can master 1 either Entry or Exit. then you can still walk away profitable. Master: Entry benefits. Great with entering trades with minimal drawdowns, but could potentially miss out on pips as they fail to realise when to take profit or close a trade in profit. often closing...
well said tyrant, I agree.
  • #995,145
  • May 31, 2015 6:24pm May 31, 2015 6:24pm
Quoting taru
Managing drawdowns. Despite trading with the long-term trend, I saw almost all of my trades slip into drawdown till either they hit stoploss or I closed them manually. And invariably the market, after shaking me off, would resume the trend. This proved I was right with my entries but wrong with managing the trades. The internet is awash with free advice about never to trade without a stop loss and how to use a risk based hard stop loss, so I tried increasing the stop loss distance, reduce risk and a combination of both, to no great avail. Then a...
Excellent post Taru, fully agree on this.
  • #995,146
  • May 31, 2015 6:32pm May 31, 2015 6:32pm
Quoting xandi
{quote} yap..im selling it too...1st tp 1.0933 ps: if 1.0930 is broken, price can go test the bottom {image}
short closed...take care asia traders, going to sleep
  • #995,147
  • May 31, 2015 6:35pm May 31, 2015 6:35pm
Tped EU short @ 35pip+ from last week's trade...
  • #995,148
  • May 31, 2015 6:39pm May 31, 2015 6:39pm
Quoting mkvy
{quote} Its amazing what a 2 week training course in Forex can do for a muppet (me) I think we both know whats happening right now {image}
let me test your knowledge. why do you think its falling now after Good data from US was actually driving EURUSD slightly upwards on Friday??
see if you know the answer. if you know it, you might actually succeed.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #995,149
  • May 31, 2015 6:40pm May 31, 2015 6:40pm
Closed my ej shorts for 30 pips. Longing EU here ( 0953.) will add if it falls further. Will stop if it falls below 0900.
Intraday only.
  • #995,150
  • May 31, 2015 6:48pm May 31, 2015 6:48pm
Quoting fxtyrant
{quote} let me test your knowledge. why do you think its falling now after Good data from US was actually driving EURUSD slightly upwards on Friday?? see if you know the answer. if you know it, you might actually succeed.
Quite interested to hear your answer here ... I'd say it was because it was the end of the month, people balancing their accounts and all that sorta thing.
  • #995,151
  • Edited 6:59pm May 31, 2015 6:48pm | Edited 6:59pm
Quoting fxtyrant
{quote} let me test your knowledge. why do you think its falling now after Good data from US was actually driving EURUSD slightly upwards on Friday?? see if you know the answer. if you know it, you might actually succeed.
because the 1.10 level was an important support that was broken and previous resistance and now its turned back into resistance... thats what the institutional traders are looking at,
Now theres a bearish signal on the hourly chart.. 4 hour chart in 10 minutes
  • #995,152
  • May 31, 2015 7:00pm May 31, 2015 7:00pm
Yep, bounced off the 1.09510 area. Just liked I expected still holding my short for earlier though. Have it set to BE so no worries.
  • #995,153
  • May 31, 2015 7:01pm May 31, 2015 7:01pm
Quoting scottik187
{quote} Quite interested to hear your answer here ... I'd say it was because it was the end of the month, people balancing their accounts and all that sorta thing.
Yes ur right its the big boys balancing booksunwinding some dollar but it wont last
The biggest hint of why 1.10 is the level they were looking for is that we spike above by 7 pips but averge daily range would suggest it has a potential to go up to 1.11,
So the fact that us data coming out good yet usd being slight ly sold is because it was a competition between the dollar bulls buying on news and the dollar month end rebalancing flow. But its obvious that the monh end flow was a but more powerful. Month end flows dont last however

Best way to realise when the big boys were done after 1.1 is the fact that daily closed below 1.1 on friday.

Forex is just a game of money between the big boys and fund houses and corporates placing orders and banks either reverse match their orders ( ie taking the counter position up themselves) or banks seek other banks and instrument to hedge their risk.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #995,154
  • May 31, 2015 7:11pm May 31, 2015 7:11pm
Quoting fxtyrant
{quote} Yes ur right its the big boys balancing booksunwinding some dollar but it wont last The biggest hint of why 1.10 is the level they were looking for is that we spike above by 7 pips but averge daily range would suggest it has a potential to go up to 1.11, So the fact that us data coming out good yet usd being slight ly sold is because it was a competition between the dollar bulls buying on news and the dollar month end rebalancing flow. But its obvious that the monh end flow was a but more powerful. Month end flows dont last however Best...
That's how I read it also.

However there are some very good traders out there who are bulls on this pair, but I can't see why anyone would be Bullish the Euro myself. For me, the 1.10 level and then the swing highs at 1.1050 area are the levels I'm watching. I think the move to 1.14 was the retrace in a larger downtrend.
  • #995,155
  • May 31, 2015 7:12pm May 31, 2015 7:12pm
Quoting fxtyrant
{quote} Yes ur right its the big boys balancing booksunwinding some dollar but it wont last The biggest hint of why 1.10 is the level they were looking for is that we spike above by 7 pips but averge daily range would suggest it has a potential to go up to 1.11, So the fact that us data coming out good yet usd being slight ly sold is because it was a competition between the dollar bulls buying on news and the dollar month end rebalancing flow. But its obvious that the monh end flow was a but more powerful. Month end flows dont last however Best...
If you suspected this why did you sell on the low on 27th?
  • #995,156
  • May 31, 2015 7:12pm May 31, 2015 7:12pm
Quoting mkvy
{quote} because the 1.10 level was an important support that was broken and previous resistance and now its turned back into resistance... thats what the institutional traders are looking at, Now theres a bearish signal on the hourly chart.. 4 hour chart in 10 minutes
An important distinction to make here is that institutions do not watch levels, they are the levels.
  • #995,157
  • May 31, 2015 7:13pm May 31, 2015 7:13pm
Quoting scottik187
{quote} An important distinction to make here is that institutions do not watch levels, they are the levels.
Oh yes they do... Just look at the past at these levels

But true, they start the level
  • #995,158
  • May 31, 2015 7:15pm May 31, 2015 7:15pm
Quoting scottik187
{quote} That's how I read it also. However there are some very good traders out there who are bulls on this pair, but I can't see why anyone would be Bullish the Euro myself. For me, the 1.10 level and then the swing highs at 1.1050 area are the levels I'm watching. I think the move to 1.14 was the retrace in a larger downtrend.
To know what the long term trend is. Just ask urself what news is coming out of europe? And what news coming out of US??
What is more important??
Rate hike or a delayed of rate hike because of weather stuck us data??
Then comparenit with news of europe. Does QE in europe increace or decreases the value of euro...
How long is the QE going to last...
The fact hat draghi says they will stick to its original timeframe for QE does that inspire bullishness in europe??
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #995,159
  • May 31, 2015 7:15pm May 31, 2015 7:15pm
Quoting mkvy
{quote} If you suspected this why did you sell on the low on 27th?
Thats my initial entry. My aggressive portfolio is adding a lot ever 50 pips up
Meanwhile usdjpy being a good gauge of dollar strength... That thing still wants to climb... Poor ken a
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #995,160
  • May 31, 2015 7:17pm May 31, 2015 7:17pm
Quoting fxtyrant
{quote} Thats my initial entry. My aggressive portfolio is adding a lot ever 50 pips up
crikey.... fair play! im going to ride this down to the next key support 1.05 or there abouts
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