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  • #581
  • Mar 16, 2016 11:08am Mar 16, 2016 11:08am
Quoting mejo
{quote} been away. i understand (or at least think i do) that the 88.2 reactions show support? but how doest the testing upper mufu at 0.7592 help the trade? being the next target?
Just helps it fit
  • #582
  • Mar 16, 2016 11:14am Mar 16, 2016 11:14am
Anyone shorting the test of EU daily support? I'm staying out. Still have a short running from higher up, stop at be, but I fear that volatility will wipe out the stop anyway so I'm looking for a good moment to take half of the position off.
  • #583
  • Mar 16, 2016 11:17am Mar 16, 2016 11:17am
Quoting ExForX
Anyone shorting the test of EU daily support? I'm staying out. Still have a short running from higher up, stop at be, but I fear that volatility will wipe out the stop anyway so I'm looking for a good moment to take half of the position off.
I'm short EurJpy risking 30 aiming for 123.8x ish atm 125.8x recent high 126.1x
  • #584
  • Mar 16, 2016 11:20am Mar 16, 2016 11:20am
Quoting gatorinla
eu has it little b/o.. on a bounce, a entry short at 1099/1124 may allow that 1019 norm in the attempt to 1035 target. atm level 1067 {image}
coming into zone of major sr
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #585
  • Mar 16, 2016 11:30am Mar 16, 2016 11:30am
Quoting Pharm0r
{quote} Just helps it fit
so now hen the price touched the mofu below the low what does that mean? and it looks that 88.2 had become resistance so are you thinking of shorting?
less is more
  • #586
  • Mar 16, 2016 11:32am Mar 16, 2016 11:32am
eu could possible drop to 0942 to give the bulls the chance to organize their target at 1290. 1290 could be a norm for bear's target at 0756. Otherwise I can accept a simply drop to 0756 to charge my long bazooka
  • #587
  • Mar 16, 2016 11:41am Mar 16, 2016 11:41am
Quoting mejo
{quote} so now hen the price touched the mofu below the low what does that mean? and it looks that 88.2 had become resistance so are you thinking of shorting?
If it's the same fib then it has already been invalidated in my books once the lower low was made. Often times the previous support will become resistance, if you can find a reason those can be good trades.

Not looking to trade EU today unless it pops 200+ pips. More interested in UJ or GU
  • #588
  • Mar 16, 2016 12:10pm Mar 16, 2016 12:10pm
Look it is
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  • #589
  • Mar 16, 2016 12:26pm Mar 16, 2016 12:26pm
Quoting tashkent
i see only 2 levels worth looking at - 1.1057 and 1.1376 smaller tfs will eventually give us more s/r in near future but now only level to watch - 1.1218. {image}
this is still valid.
pressure is downside. i am thinking of going long around 1095 if we reach there
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As Above, So Below
  • #590
  • Mar 16, 2016 12:41pm Mar 16, 2016 12:41pm
Quoting Pharm0r
{quote} Tempted to short oil DR3 (40.37) have a mofu there too, give me a reason not to {quote} your thoughts too edit: if the turd even makes it
Already short after inventory report .........
  • #591
  • Mar 16, 2016 12:44pm Mar 16, 2016 12:44pm
Quoting Pharm0r
{quote} If it's the same fib then it has already been invalidated in my books once the lower low was made. Often times the previous support will become resistance, if you can find a reason those can be good trades. Not looking to trade EU today unless it pops 200+ pips. More interested in UJ or GU
so why wasn't it invalidated when the high was broken first?
less is more
  • #592
  • Mar 16, 2016 12:47pm Mar 16, 2016 12:47pm
Quoting edyraper
{quote} I'm short EurJpy risking 30 aiming for 123.8x ish atm 125.8x recent high 126.1x
added some shorts new H out
  • #593
  • Mar 16, 2016 12:48pm Mar 16, 2016 12:48pm
Quoting gatorinla
eu has it little b/o.. on a bounce, a entry short at 1099/1124 may allow that 1019 norm in the attempt to 1035 target. atm level 1067 {image}
too close to news void
those who can, do. those who cant, talk about those who can
  • #594
  • Edited 1:07pm Mar 16, 2016 12:53pm | Edited 1:07pm
Quoting mejo
{quote} so why wasn't it invalidated when the high was broken first?
Thats the million dollar question. It could have been, but then why was the 88 and the 50 and mid mofus and bottom respected? (that's the question I ask myself often). It is also normal for a retrace after a HH is made, in fact we base the majority of our trading on that very fact. After a HH or LL, one should expect a retrace before continuation. You could move the fib up to the tip top and go from there, it didn't fit as well....so perhaps it overshot, but didnt crack the zone we consider mofu zone. I just don't know- if it fits it fits. The short term often fits one way and doesn't work at all....you hear gator say short term often lies.

through deductive reasoning, you can deduce that since the fibs ARE working (forget why), and that most times the mofu before a LL/HH works....then I should be able to make a trade and at very least get break even, possibly more. that's the key- RR, money management, and a plan. I knew exactly where it would go wrong...that's more than half the battle.
  • #595
  • Mar 16, 2016 12:54pm Mar 16, 2016 12:54pm
Good luck with FOMC guys!!
Today's SR levels on MT4 Templates for EURO, CABLE, DAX, USDJPY & EURGBP
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #596
  • Mar 16, 2016 12:54pm Mar 16, 2016 12:54pm
Quoting M3d
{quote} how much further than 1124 can it go in your view?
i cant predict news.. before news it has a bullish close last week and hasnt deviated from 1.247path. knee jerk may drop it.. but higher rates may hurt equities, so the drop may end with a bounce.. or vice versa with a dovish statment

the world needs a reset that includes all valuation created the last 40 years.. especially yen equities
those who can, do. those who cant, talk about those who can
  • #597
  • Mar 16, 2016 12:57pm Mar 16, 2016 12:57pm
planing to short some xxxjpy pairs , and long some eurxxx pairs if we see decent drop in euro and yen , cadj ecad aj ea are in the center of interest will see , about to s/o from eurjpy short , eh .... nice start to fomc
  • #598
  • Mar 16, 2016 12:57pm Mar 16, 2016 12:57pm
Quoting jaxx80
{quote} Still holding long? Added to the position?
That already done with
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A good trader follows his rules, but great trader knows when to break them
  • #599
  • Mar 16, 2016 1:00pm Mar 16, 2016 1:00pm
Oh shit

edit decrease
Peace
  • #600
  • Mar 16, 2016 1:02pm Mar 16, 2016 1:02pm
0.5%...no surprise so far...now for the chit-chat.
Why sell the bottoms when you can buy the tops...
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