Back in for another run at 2100;)
Slam
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Back in for another run at 2100;)
Slam
thankfully i got me another short at 1.2037 and slept on it.... +83
Tandem butterflies in play?
http://img476.imageshack.us/img476/1561/eurusd0xw.png
Peat, I'm not going to get into a debate about service providers, but yesterday it was indicated that it was a wait and see day, as it hadn't got on with the job of retesting lows. I read it as that anyway, and acted accordingly on cable, when the retested support clearly held. Pity was, I didn't follow the 'sharetrader A(rco) team' advice, and turn long, I simply squared up.
Easy in hindsight, but I think you need to be willing to take some money off the table when its there for the taking, and at the very minimum, have a stop loss in place to protect some profits, or at worst breakeven.
I'm thinking Arco is tongue in cheek when he says to use it as a reverse indicator - Max is more often right than wrong, in my experience. (but no mistake, he can be wrong)
Anyway, seems it may not be right for you, so maybe stick with the ideas put up on this forum
BTW, yesterday in GBP: Arco 1, Martin 0[}:)][}:)]
Xerof
Small long at 12094, s/l 12044
Xerof
Yeh Martin was capping Eur at 1.2047 as well which kind of influenced me to hold my shorts as this was a do-able level in terms of equity. But the 1.21 thing has put me on the knife edge.Quote:
quote:Peat, I'm not going to get into a debate about service providers, but yesterday it was indicated that it was a wait and see day, as it hadn't got on with the job of retesting lows.
Anyway, seems it may not be right for you, so maybe stick with the ideas put up on this forum
Yes I do agree that I should have taken some profits when they were there. Thats the very reason I took the second short, so that I had something to work with without being out of the game.
does the fact we have no pullback after the climb indicate its more likely to continue the climb?
Think Asia don't know what to do with it Peat.
But a glimmer of hope - have a look at the 2 hourly, and spot the inverse H&S thats developed over last few days. Usually there is a return to the neckline before it takes off, so perhaps we see 12025/50 area again. No promises though...
Xerof
Closed long EUR at 33 - into the batters box on smaller butterfly
Xerof
well done, thats nearly picking the top if the last 2 hours action are anything to go by. :)Quote:
quote:Originally posted by Xerof
Closed long EUR at 33 - into the batters box on smaller butterfly
Xerof
Peat, hope you managed to get through the bullsh*t s/l run in early europe. Low was 12051 on my platform, sorry - a pip out;)
Xerof
EUR may be setting up a similar WW sequence
http://www.khalsaspad.com/files/102705ww_125.gif
GTA - arco
Might yet even stretch into the red box of the larger butterfly posted yesterday
Xerof
EUR managed a high of 2173 (Kissing the 5 ? point around 1 am)
If you rode the action north to the target zone 5? (see previous chart) you should/could have gotten upto 100 pips (max) on a day trade.
.........and if you reversed south there has been a max of circa 50 so far. I will try to update the chart later.
arco
nah, that first spike up 2125 was too much so bailed. went long haha then had to bail again. the forex mind games gettin a bit much for me now. every time i change position it moves agin me.Quote:
quote:Originally posted by Xerof
Peat, hope you managed to get through the bullsh*t s/l run in early europe. Low was 12051 on my platform, sorry - a pip out;)
Xerof
i guess I'm the fodder for the sharks......
Afternoon all, such a glorious day in the Bay today, I just had to go beyond the gates and have a coffee in the village.
Peat, :(:( we all go phases such as you're currently experiencing. Maybe spend time (not your money) on the demo to work out some systems that suit you and work for you.
Note also Peat, TRL's commentary today is a wait and see scenario
i.e might see final spike, but drop below 121xx should confirm top is in place
Arco, you mentioned a possible head on GBP - could be same setup for Euro too
Had a 'flyer' above at 12190 in case there was one more decent run into my more ambitious 'red zone', but you were obviously keeping a lid on it:D:D
Xerof