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  • #1,014,241
  • Jul 29, 2015 4:24am Jul 29, 2015 4:24am
Quoting 3Davy
{quote} Long before FOMC meeting. I haven't got the balls for it
why long before fomc ? last time i say fomc talking dollar went up like a sky rocket.

i'll keep my trade before that, wont try to catch fomc train
  • #1,014,242
  • Jul 29, 2015 4:24am Jul 29, 2015 4:24am
Quoting lcouto
{quote} why long before fomc ? last time i say fomc talking dollar went up like a sky rocket. i'll keep my trade before that, wont try to catch fomc train
why long? price action
  • #1,014,243
  • Jul 29, 2015 4:25am Jul 29, 2015 4:25am
Quoting Ken A
{quote} More likely X {image}
hmmmm getting interesting
Attached Image
  • #1,014,244
  • Jul 29, 2015 4:28am Jul 29, 2015 4:28am
Quoting ffleo
{quote} your picture does not have user name and password. capture again
Maybe next time.

Signing off for now from California. Night/Morning all.
  • #1,014,245
  • Jul 29, 2015 4:30am Jul 29, 2015 4:30am
we are settling down here in this 60-70 range
  • #1,014,246
  • Jul 29, 2015 4:32am Jul 29, 2015 4:32am
Quoting 3Davy
{quote} Long before FOMC meeting. I haven't got the balls for it
neither do I...closed it...I have few doubts price will go to target those levels I posted 1.1260/1.1320....the only problem is that price can drop until 1.0960(50% pink fibo) before start the climb up....
So I will enter long yes, but maybe adding longs until 1.0960 and there below 61.8% fibo stopped out(SL), or wait until FOMC to see if the climb up starts there and catch half of the move...
tricky forex when you play high leverage...best strategy indeeed was to add longs, probably 1 from here, 1 from 1.1010, and last from 1.0960...Stop loss below 1.0925.

thinking how manage this...risk management is the most difficult on forex, because it colides with one greeds!
cheers
  • #1,014,247
  • Jul 29, 2015 4:32am Jul 29, 2015 4:32am
Quoting xandi
good morning! Longed from here 1.1063 ---> TP 1.1260 (113% fibo extention) ...next TP 1.1324 (127% fibo) {image}
Fibo doesn't work Always.

Its not easy to predict a target.
  • #1,014,248
  • Jul 29, 2015 4:37am Jul 29, 2015 4:37am
Quoting 3Davy
{quote} Fibo doesn't work Always. Its not easy to predict a target.
after fomc all thes players will start talking abt sub 1.09 don't worry
  • #1,014,249
  • Jul 29, 2015 4:38am Jul 29, 2015 4:38am
Quoting xandi
{quote} neither do I...closed it...I have few doubts price will go to target those levels I posted 1.1260/1.1320....the only problem is that price can drop until 1.0960(50% pink fibo) before start the climb up.... So I will enter long yes, but maybe adding longs until 1.0960 and there below 61.8% fibo stopped out(SL), or wait until FOMC to see if the climb up starts there and catch half of the move... tricky forex when you play high leverage...best strategy indeeed was to add longs, probably 1 from here, 1 from 1.1010, and last from 1.0960...Stop...
mehhh...going to scalp short from 1.1066---> 1st TP 1.1010, 2nd TP 1.0975...
after that Ill switch for long, if I survive!

SL above 1.1073
  • #1,014,250
  • Jul 29, 2015 4:43am Jul 29, 2015 4:43am
TPed Halved GU @ 1.5638
  • #1,014,251
  • Jul 29, 2015 4:46am Jul 29, 2015 4:46am
Quoting 3Davy
{quote} Fibo doesn't work Always. Its not easy to predict a target.
of course...theres nothing on forex specially on longtimeframe which works always...but you can figure if works relatively more than other , and there it can work for you...
the best thing to do that, is to backtest historical price (2/3 years), trade simulate there and get own conclusions...
My opinio fibonacci is the best thing on explaining price movements, as also many flutuations on the Earth...
  • #1,014,252
  • Jul 29, 2015 4:49am Jul 29, 2015 4:49am
Even at the low of 1030 some bulls still remained speculators, rather than profit collectors. The Rejection at 1.1124 should be the only reason why i could go short otherwise the break would mean higher dollar pricesssssssssss. PA still important in decision making.
Keep the Lights on then you can catch the rise from the dark.
  • #1,014,253
  • Jul 29, 2015 4:59am Jul 29, 2015 4:59am
Quoting xandi
{quote} of course...theres nothing on forex specially on longtimeframe which works always...but you can figure if works relatively more than other , and there it can work for you... the best thing to do that, is to backtest historical price (2/3 years), trade simulate there and get own conclusions... My opinio fibonacci is the best thing on explaining price movements, as also many flutuations on the Earth...
Bulls are strong,hope your target get reached.

Short it from there I hope.

Till FOMC not doing much I think.
  • #1,014,254
  • Jul 29, 2015 5:05am Jul 29, 2015 5:05am
Quoting xandi
{quote} neither do I...closed it...I have few doubts price will go to target those levels I posted 1.1260/1.1320....the only problem is that price can drop until 1.0960(50% pink fibo) before start the climb up.... So I will enter long yes, but maybe adding longs until 1.0960 and there below 61.8% fibo stopped out(SL), or wait until FOMC to see if the climb up starts there and catch half of the move... tricky...
I got similar scenario in my head. However when a strong trend starts it doesn't need to get back that low - 960 - 50%. After a full swing which is 300p for EU you need only 30% pullback which happened - to 020. Mid term levels are 0800, 1100, 1400. Only IF it's a start of a bullish trend then 1250 will be a walk in a park - 50% of the next range.
  • #1,014,255
  • Jul 29, 2015 5:05am Jul 29, 2015 5:05am
Quoting build11
{quote} Thanks Will google that and see if I can find one that works for me . Didn't think the share feature would work for posting here .
If you are using windows 7 or higher use snipping tool, choose which part of chart to capture than save it, than post it here.
  • #1,014,256
  • Jul 29, 2015 5:08am Jul 29, 2015 5:08am
Try to scalp this beast..
short @1069
Forex as Leverage
  • #1,014,257
  • Jul 29, 2015 5:11am Jul 29, 2015 5:11am
Quoting Chanlie
Try to scalp this beast.. short @1069
Hope she dont make a new H today before FED*
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  • #1,014,258
  • Jul 29, 2015 5:14am Jul 29, 2015 5:14am
Not sure there is much money in market atm. "Feels" like low liquidity before FOMC creating a playground for the Money. It may eventually grab a direction but there seems to be plenty of pain to hand out first. Currently long EJ but playing it tight and if it's taken will step aside.
As the lights go by so too do the shadows move
  • #1,014,259
  • Jul 29, 2015 5:15am Jul 29, 2015 5:15am
I dun expect FOMC to be a real impact... Tomorrow's GDP and Unemployment data will be the impact..
  • #1,014,260
  • Jul 29, 2015 5:18am Jul 29, 2015 5:18am
Quoting KzX
{quote} I got similar scenario in my head. However when a strong trend starts it doesn't need to get back that low - 960 - 50%. After a full swing which is 300p for EU you need only 30% pullback which happened - to 020. Mid term levels are 0800, 1100, 1400. Only IF it's a start of a bullish trend then 1250 will be a walk in a park - 50% of the next range.
yes, I have that doubt also...for that reason I would trade if I had margin adding longs lots... a large retrace can happen (even more in 4h chart you can count 1-2-3-4-5 waves) but for preety sure after that retrace we will assist a huge fast climb up...I was watching the move on 20th April 2015, and its similar to this(although the retrace from the fall was only 62%, on nowadays case was 78%), with 1-2-3-4-5 correction, retrace to 62% fibo and there fly up like a rocket...I post here for you
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