Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Originally Posted by dreamtiger33

God,
I know you all have done it.......but last night I bought in 3 lots at 1.3134, and then when it sunk some during asian trade I got a bit skittish, yet still believed the Spain bond auction would go well. Well, I sold one lot at 1.310 to give the other 2 some room if it retraced.......which it did. However, woke up in the middle of the night and sold the 2 lot at 1.3144 after the auction around 2 am pacific time. This was against my initial gut instinct, and I thought what happened after that was going to happen but got skittish........now, I wake up and realize what materialized and went on tilt and shorted at 1.3340, hoping to scalp a quick 15 to 25. Obviously didnt pan out, and the difference is whopping percentage wise. Any ideas now to deal with the mind twist and going and against gut instinct and then going on tilt? All replies greatly appreaciated. In for the long hall, so send some wisdom for the road! Thanks, dreatiger33

dreamtiger you're buying too many lots to start your position. i've done it before we all have probably thats why you got skittish. the thought of the loss took over and you'll panic, (panic selling). take a slow approach let your account grow and grow your positions accordingly. even if the amount of money your making isnt what you want it to be you'll gain good habits and get more confidence and experience.

While what happened today has been quite positive, a Solid Close above 1.3428 is definitely required to even think about a possible Reversal and confirming the 1st December’s Bullish Engulfing Pattern … till all that happens, please remain cautious …

Originally Posted by asherewt

I'm Long with caution as the Daily is still not Bullish, if it does turn Bullish I'll add more positions. No Targets at this stage just plain moving of SL on upside.

Originally Posted by Spartan_Forex

I just did put this together. the other day i knew my count was right. i thought it was wave 4 and 5 of c andwe go down it wasnt it. It was wave 1 ending. check these charts guys lemme know what u think

I'm just getting around to checking some counts. Your grey count, i think its a Daily. Your w4 violates w1. I don't think w4 closes inside w1 but one out of the four-five rules would be broken. Your w5 also breaks down in 3 waves. The two counts showing the long rally looks okay.

Ayo ... any updated count for Daily or weekly TF ?

Originally Posted by AyoBro

I'm just getting around to checking some counts. Your grey count, i think its a Daily. Your w4 violates w1. I don't think w4 closes inside w1 but one out of the four-five rules would be broken. Your w5 also breaks down in 3 waves. The two counts showing the long rally looks okay.

U.S. unemployment applications rose dramatically, 2011 foreclosures are set to beat the 2010 record of one million, while the Portuguese bond sale was satisfactory, Eurozone growth has surprised on the upside as interest rates rise there, the E.U. is belt-tightening while the U.S. continues its Q.E., and so on.

Meanwhile, long term MACD/RSI/MOM indicators appear to be generally positive for the Euro, while the Dec-Jan consolidation seems eerily similar to the August-September action that preceded a sharp (almost) 2000 bip move on the upside. Could this be a repeat?

Many on this thread are predicting a good shorting opportunity, but I advise extreme caution as macroeconomic developments and differentials will weigh heavily in the Euro's favour during the coming months. I fully expect 1.4500+ by August, preceded by some consolidation and then a strong rise above 1.3500.

Day-traders and scalpers should ignore everything written above.

Originally Posted by captester

Okay this is my crack at this. Let me know why this may not be in the works, or what your thoughts are on it.

Nice crack, both wBs, the small and the big one, are wBs or w2s. Very impressive stuff.

Thanks Ayo means a bunch that you looked at them. Trying to get my footing. A fair ways to go yet.

Great care advised for EUR/USD bears | ForexLive

Originally Posted by asherewt

My EW Count ... not an expert on EW so dont follow me please

Good stuff Ash, I know you don't specialize in EW but still, calling the decline from the recently 1.34 as a finished 5-wave affair, was good stuff.

Again folks, I'm just getting around to checking some of the counts. Congrats to everyone that attempted to count the 1.34 drop. IMO, the 5 wave completion that ended at 1.287 is either w1 of C(as long as the previous top(1.34)) is not violated) or w-c of b of B or maybe wC of 2 or maybe.....

A-Yoooooooooooo

oh come on mate

that was a pathetic count and a try on EW ... lolz

For some reason the EW just doesnt run in my blood

Originally Posted by AyoBro

Good stuff Ash, I know you don't specialize in EW but still, calling the decline from the recently 1.34 as a finished 5-wave affair, was good stuff.

Again folks, I'm just getting around to checking some of the counts. Congrats to everyone that attempted to count the 1.34 drop. IMO, the 5 wave completion that ended at 1.287 is either w1 of C(as long as the previous top(1.34)) is not violated) or w-c of b of B or maybe wC of 2 or maybe.....

A-Yoooooooooooo

Originally Posted by SpinDoctor2020

Great care advised for EUR/USD bears | ForexLive

Wow ... this is amazing. I didnt know we had experts on internet who dont believe in Dow Jones going below 3000 points and the end of the world by 21st Dec next year ... good on him

ddddddddddddddddddddddddd

Originally Posted by zion

Jesse Livermore- Reminiscences Of A Stock Operator

Not a book for Tech or Fundamental analysis but for business sense

Zion, you might remember that because you had quoted this book so much I bought the audio and listened to the entire book. Personally I didn't care for it too much, but if you would take all the quotes you have shared from the book and made a book at Jesse Livermore quotes, that would be worthwhile for me and would recommend it to others. The meaning behind the book was very good, but there was a lot of redundancy. I would have rather had a shorter version.

Originally Posted by Flyba

I am benefiting very much from Brian helping others out so it thank you to him and to Stryker in turn... it's a steep learning curve at the beginning and all the help is greatly appreciated.

Originally Posted by stryker

well for the record Brian has improvised to my style of trading and has been on a learning curve ever since, whereas im still where i was yrs back and no jokes he will be a front runner where everyone will be following him...... he's got that talent and he surely to go distance.......

Originally Posted by cw1

Well done Brian. See i reckon your gonna be an EW lover and post just as good stuff shortly as AYO AND COLLY and other EW chappies.....ASSUMING YOUR NOT A WOMAN OF COURSE... And if you are ...then you must get back to the kitchen sink where my wife is chained watered and fed!!!! lol.

Seriously well done - and i wish you truckloads of cash that you can bathe in !!

Thank you all for the kind words; it is very much appreciated. Over the next few weeks I will not be around here much as I have normal things to do and will be going on vacation in 2 weeks. Can't wait for that.

It would be nice to be in the same class as some of the other EW people that posts their charts here, but don't think that will be me, but will post from time to time what I can. It's not that I don't think I can do it, but I only want to know enough to have a better understanding of how it works. My style of trading is mostly about having a feel for price action and using trend lines. Knowing how EW and Fibs work will just add to my war chest.

As for being a woman, never have been and never will, but I do enjoy being with my woman.

Originally Posted by zion

I know you are very good. We are not comparing notes or systems ok. Maybe I will only watch and post seldomly from now. My trades are strategic and luckily works often.

I actually like your trade calls. It gives me a chance to look at more than a couple of currency pairs since, I don't get much time to research. I am new to forex about 2 months now. Your posts are easy to follow and trade calls are simple to understand for a forex newb like me. I am still holding short AUD/NZD as per your post end of December and have accumulated approx. 400 pips so far. I look forward to your posts so please carry on the good work. Thank you!

One day I will also be able to contribute to this thread as I get better over time learning from all the experts on this forum.