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The Swamp

  • #6,041
  • Jun 21, 2016 6:11pm Jun 21, 2016 6:11pm
Quoting roadtogo
{quote} hey goosebone, first I thought the same but now I doubt it. I remember the time when EURCHF changed dramatically last year in a minute. I have just looked up for the chart again but it is hard to find it. If we are to face such a rapid move with gap, there are 3 risks - cannot do much profit right after because there will be a gap - cannot(or better not) hold a position before the event as SL will be hit by a large spread if we are in counter position - stop outs may occur -specultive move would make this case even more crazy so I am not...
I see what you mean. Regular methods of controlling risk may not apply with this event. Well I guess we will see. I have shorts gu and eu. Thinking I will hold thru tomorrow depending on pa. But might shut down most or all flat before crunch time. Playing by ear til then. Good luck to you no matter how you decide to play it.
  • #6,042
  • Jun 21, 2016 6:21pm Jun 21, 2016 6:21pm
Quoting goosebone
{quote} I see what you mean. Regular methods of controlling risk may not apply with this event. Well I guess we will see. I have shorts gu and eu. Thinking I will hold thru tomorrow depending on pa. But might shut down most or all flat before crunch time. Playing by ear til then. Good luck to you no matter how you decide to play it.
thnx.. same to you..

I also hold short eurgbp at the moment from .79 but do not have the balls to keem them all until the event..
money ain't shit,i'm the shit..
  • #6,043
  • Jun 21, 2016 6:32pm Jun 21, 2016 6:32pm
i see a daily flag
  • #6,044
  • Edited Jun 22, 2016 3:59am Jun 21, 2016 9:47pm | Edited Jun 22, 2016 3:59am
Pending SHORT
Cancelled
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A good trader follows his rules, but great trader knows when to break them
  • #6,045
  • Jun 21, 2016 11:58pm Jun 21, 2016 11:58pm
Good Morning !

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!!
  • #6,046
  • Jun 22, 2016 12:37am Jun 22, 2016 12:37am
last weeks mid is 1.1216, and it did see some respect, structure seems to still be bullish overall, so maybe it provides some support..something to consider I guess..
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Look Sharp/Trade Tight
  • #6,047
  • Jun 22, 2016 1:39am Jun 22, 2016 1:39am
maybe CADJPY offers a chance for some shorts today up near 82.50
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Look Sharp/Trade Tight
  • #6,048
  • Jun 22, 2016 3:06am Jun 22, 2016 3:06am
EU approaches Daily and Monthly pivot zone, I will take a short here if it does not punch straight through​
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  • #6,049
  • Jun 22, 2016 3:17am Jun 22, 2016 3:17am
Quoting PayTheLimit
I wonder if something like this is plausible... {image}
gave you two chances, I took the second, 104.31 was yesterdays mid also...lets see if the bulls try to make something of it..a close above 104.60 this hour would be nice..
Look Sharp/Trade Tight
  • #6,050
  • Jun 22, 2016 3:38am Jun 22, 2016 3:38am
Quoting MaxDoom
EU approaches Daily and Monthly pivot zone, I will take a short here if it does not punch straight through​ {image}

Hey man! Thank you for stopping by
Any ideas you could share on the Brexit issue and future of GBP? Only when it is convenient for you to reply.
  • #6,051
  • Jun 22, 2016 5:08am Jun 22, 2016 5:08am
Quoting PayTheLimit
last weeks mid is 1.1216, and it did see some respect, structure seems to still be bullish overall, so maybe it provides some support..something to consider I guess.. {image}
Interesting, I hadn't thought to mark the mid of last week but it has respected it well so far. I guess every broker is different, mine is showing as arround 1.2337 as last week's mid and it literally bounced off that level.
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  • #6,052
  • Edited 6:03am Jun 22, 2016 5:46am | Edited 6:03am
Quoting uksnowman
{quote} Interesting, I hadn't thought to mark the mid of last week but it has respected it well so far. I guess every broker is different, mine is showing as arround 1.2337 as last week's mid and it literally bounced off that level. {image}
looks like your using a midnight London close for the week, no?

I'm curious... did that level, say on the 1hr, get any respect last week?
Look Sharp/Trade Tight
  • #6,053
  • Jun 22, 2016 6:13am Jun 22, 2016 6:13am
Quoting PayTheLimit
{quote} looks like your using a midnight London close for the week, no? I'm curious... did that level, say on the 1hr, get any respect last week?
The weekly candle seems to close/open on Monday 00:00. Yes it does get some respect, here is the hourly chart with last week's close and the weekly mid annotated.
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  • #6,054
  • Jun 22, 2016 6:19am Jun 22, 2016 6:19am
Quoting uksnowman
{quote} The weekly candle seems to close/open on Monday 00:00. Yes it does get some respect, here is the hourly chart with last week's close and the weekly mid annotated. {image}
plenty of respect, I count six instances at a glance, depending how you want to count them...definitely tradable today I'd say...
Look Sharp/Trade Tight
  • #6,055
  • Jun 22, 2016 6:41am Jun 22, 2016 6:41am
Quoting PayTheLimit
{quote} plenty of respect, I count six instances at a glance, depending how you want to count them...definitely tradable today I'd say...
True but we only know the mid once the week closed, which for me is Monday 00:00, so need to look for H1 action from that point (red horizontal line), which is one clean bounce:
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  • #6,056
  • Jun 22, 2016 6:48am Jun 22, 2016 6:48am
Quoting uksnowman
{quote} True but we only know the mid once the week closed, which for me is Monday 00:00, so need to look for H1 action from that point (red horizontal line), which is one clean bounce: {image}

Yes, its true, you need the mid first. The market wasn't able to trade off it before it had established it. However the respect it got in the prior week is what makes it interesting. To me it shows that the market for one reason or another like to do business at that level. I prefer to trade off a level that got action in the prior week.
Look Sharp/Trade Tight
  • #6,057
  • Jun 22, 2016 6:50am Jun 22, 2016 6:50am
Quoting PayTheLimit
{quote} Yes, its true, you need the mid first. The market wasn't able to trade off it before it had established it. However the respect it got in the prior week is what makes it interesting. To me it shows that the market for one reason or another like to do business at that level. I prefer to trade off a level that got action in the prior week.
Knowing the mid before it happens has got to be a decent edge, where's Gator?
  • #6,058
  • Jun 22, 2016 6:52am Jun 22, 2016 6:52am
Quoting uksnowman
{quote} Knowing the mid before it happens has got to be a decent edge, where's Gator?
Gator is the mid....
Look Sharp/Trade Tight
  • #6,059
  • Jun 22, 2016 7:07am Jun 22, 2016 7:07am
Quoting PayTheLimit
{quote} Gator is the mid....
Haha, indeed! I tried to find another example with a weekend gap on E/U. Here is one (not particularly big) but I just checked the reactions to the mid the following week on H4, still looks interesting.
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  • #6,060
  • Jun 22, 2016 7:15am Jun 22, 2016 7:15am
Quoting uksnowman
{quote} I tried to find another example with a weekend gap on E/U. Here is one but I just checked the reactions to the mid the following week on H4, still looks interesting. {image}
you will find tons of examples, many more if you include the quarters, the problem, as always, is which to take, and which to pass on....personally, I try to look at the structure of the market, and try to ascertain who has the upper hand..and as I said before, I like to see that the level got some action/respect in the prior week..
Look Sharp/Trade Tight
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