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  • #1,022,801
  • Aug 27, 2015 3:04am Aug 27, 2015 3:04am
Quoting Legio_Ulpia
{quote} Hi Max, interesting analysis, may I ask you what's your trading plan for today? Thanks in advance.
looking for longs off the levels, take some profits at levels above etc..
Pivot coincides with weekly high today 1.1388 a number to be watched
just taken a long out of the lows here
  • #1,022,802
  • Aug 27, 2015 3:05am Aug 27, 2015 3:05am
Quoting MaxDoom
{quote} what is this mid?
50% of the candle. 1263 is 50% of the yearly candle, for example. For whatever reason, as Cloggie
used to say 'fiber loves the 50'. A cluster of them like that can get nasty, especially higher timeframe ones.. (for bears I mean, until it's broken)
  • #1,022,803
  • Aug 27, 2015 3:06am Aug 27, 2015 3:06am
I short EU until US GDP
  • #1,022,804
  • Aug 27, 2015 3:07am Aug 27, 2015 3:07am
Quoting MaxDoom
a toe in the water {image}
Must touch yesterday low, I insist!
  • #1,022,805
  • Aug 27, 2015 3:10am Aug 27, 2015 3:10am
Quoting MaxDoom
{quote} looking for longs off the levels, take some profits at levels above etc.. Pivot coincides with weekly high today 1.1388 a number to be watched just taken a long out of the lows here
Mine is to ride the pig once current low is broken keeping an eye to WPP (1.1261) and eventually MR2 (1.1243)
  • #1,022,806
  • Aug 27, 2015 3:13am Aug 27, 2015 3:13am
Quoting subhanwaheed
I want a little bit of help, about trading in general. I am looking to follow a money management technique that might requires different leverage on every trade depending on the stoploss size. Is that possible on MT4 as I have a live account with Hotforex MT4?
I suppose you won't be able to change leverage at Hotforex anytime you want. It's generally not possible with any MT4 broker. You can effectively manage risk by changing lot size from 0.01 to 8 lots on micro account. I use 1:500 leverage by default the rest is after trade volume management.
Feel free if you have any other questions.
  • #1,022,807
  • Aug 27, 2015 3:17am Aug 27, 2015 3:17am
Quoting MissPips
{quote} 50% of the candle. 1263 is 50% of the yearly candle, for example. For whatever reason, as Cloggie used to say 'fiber loves the 50'. A cluster of them like that can get nasty, especially higher timeframe ones.. (for bears I mean, until it's broken)
I was just teasing you missy
each method has it's own followers I prefer to apply to legs rather than a candle so those numbers don't feature in my world except by coincidence.
  • #1,022,808
  • Edited 3:28am Aug 27, 2015 3:18am | Edited 3:28am
I think we'll see 1.10 sooner than 1.17. Not in a straight line since 1217 is a strong level.

Dudley's statement yesterday was intended to shore up the markets, so it's effectively taken rate hike off the table for September. There was also a very large direct intervention on the Shanghai Comp today after the dip towards the close, so it appears the PBOC put a line in the sand for the bottom. This could signal a stabilization of the market there. (we'll have to see how it goes, but that was big)

More important for the Euro in relation to China is how China is going to weaken the Yuan on the open market without compromising it's longer term position against the USD.

Because they're dumping US Treasuries as an intervention tool, they'll probably increase purchases on the secondary market buying Treasuries against the Euro while directly selling them against the Yuan which should have a net weakening effect on EURUSD. I didn't come up with that idea myself, someone else told me, but it makes a lot of sense. I follow the daily Treasury auction and the indirects are outnumbering direct bidders (the primary dealers), so there's a good chance it's China doing the buying.
  • #1,022,809
  • Aug 27, 2015 3:24am Aug 27, 2015 3:24am
Quoting MaxDoom
{quote} I was just teasing you missy each method has it's own followers I prefer to apply to legs rather than a candle so those numbers don't feature in my world except by coincidence.
Oh Ok, wasn't sure.... Well anyway the weekly pivot is down there too (1264). Only meant to say that I agree that
this area is better for longs than shorts because I think bears will have some trouble getting through there....

Edit: I put them on legs too, but I've been putting an indie that shows the mids of candles on my charts for
quite a while, and it is amazing how often you'll get a bounce at the mid of a candle. Especially if you have the direction right are are looking for where to buy a retrace..
  • #1,022,810
  • Aug 27, 2015 3:38am Aug 27, 2015 3:38am
Guys can i know what to expect from Jackson hole?
  • #1,022,811
  • Aug 27, 2015 3:44am Aug 27, 2015 3:44am
Quoting Luther
I think we'll see 1.10 sooner than 1.17. Not in a straight line since 1217 is a strong level. Dudley's statement yesterday was intended to shore up the markets, so it's effectively taken rate hike off the table for September. There was also a very large direct intervention on the Shanghai Comp today after the dip towards the close, so it appears the PBOC put a line in the sand for the bottom. This could signal a stabilization of the market there. (we'll have to see how it goes, but that was big) More important for the Euro in relation to China is...
Great post! Thanks. I was wondering how they were going to do that...
  • #1,022,812
  • Aug 27, 2015 3:57am Aug 27, 2015 3:57am
slow day so far, time for some action swissy plop eu pop maybe
If you are new to Forex? Say Goodbye to your account!!
  • #1,022,813
  • Aug 27, 2015 3:59am Aug 27, 2015 3:59am
this break down is looking for target 11250
  • #1,022,814
  • Aug 27, 2015 4:05am Aug 27, 2015 4:05am
Quoting MissPips
{quote} Great post! Thanks. I was wondering how they were going to do that...
This article is older, but it's a good explanation of how they do it.

http://www.reuters.com/article/2011/...75T2MI20110630
  • #1,022,815
  • Aug 27, 2015 4:24am Aug 27, 2015 4:24am
Short TP on Eu reached. But it looks like something is happening here highlighted in green circle. Awaiting confirmation

Attached Image
  • #1,022,816
  • Aug 27, 2015 4:27am Aug 27, 2015 4:27am
I am currently trying to figure out whether or not there is going to be support here to cause the market to bounce. But I guess a break below 1.1295 would trigger a drop towards 1.1235. Go short with 1.1235 as a target.
Attached Image
  • #1,022,817
  • Aug 27, 2015 4:28am Aug 27, 2015 4:28am
Wait a little more imho
The 5 min looks weak
  • #1,022,818
  • Aug 27, 2015 4:30am Aug 27, 2015 4:30am
Quoting puney
this break down is looking for target 11250
what i meant was that the break from 11316 has target 11250
  • #1,022,819
  • Aug 27, 2015 4:37am Aug 27, 2015 4:37am
its not just LL and LH.. its where they are closing below.. 4h close below 1293. bounces are still muted until proven different. uj has been rising slightly as eu drops.. thats a change.. a nice steady pace on eu.. little to no retrace, like lt trends start..
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those who can, do. those who cant, talk about those who can
  • #1,022,820
  • Aug 27, 2015 4:41am Aug 27, 2015 4:41am
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