Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
re entered 1.3219 almost the same level where i s/o, "Revenge trading" with technical reason lol
tp is the same 3272-74
stop just under the recent lows!
caution! revenge trading is bad for account equity health and can cause serious damage!
I entered here as well, testing the 50% of Fridays rally and 100 bar moving average as support. Offers a good spot to get long with a tight stop and possible 100+pip target. Yellow areas on my chart are areas i am looking to buy. red is where longs get complicated
Originally Posted by turmaz
re entered 1.3219 almost the same level where i s/o, "Revenge trading" with technical reason lol
tp is the same 3272-74
stop just under the recent lows!
caution! revenge trading is bad for account equity health and can cause serious damage!
I continue to scratch my head as to how we keep getting to different conclusions on this forum, or should I say why I am out of sorts with general consensus (again).
Chart attached is an update of the one from the weekend and still offers no 'long' thought process for me at all. Add in the MyWave counts I posted and this continues to offer me nothing but reasons to short positive energy.
I am always happy to be wrong (this being a risk based game) but I would not want to be long until my Stoch Moms (these are 8hr versions!!) have bottomed out and tested that MACD.
it all depends on what you are using. I use no indicators except for a combined RSI and CCI indicator that is either green or blue, currently on the daily it is bullish but the trend is sideways...
anyway, most of the people bullish here are not using indicators. Myself, i am buying into the trend that started in January, which is means that when i am trying to buy, it will likely mean its on a dip while your indicators are showing a pullback. Also i use very general wide points, for example, i will look at the rally in January as being supported, then used the 100dma as a level and say "while above the 100dma, i am looking to be long. So a lot can happen above the 100 dma, like right now you are getting short signals above the 100 dma, wheres i see we can pull back from here but will look to buy while above it.
Basically what im trying to say is, everyone here is likely right on some time frame lol.
here is the only indicator i use, its cci and rsi based and it just for a very general idea of direction. you can see now its bullish but look at how useless it was the last 3 months. I find it is good just to confirm bias based on other stuff... its helpful on the 4 hr as well. but you can see the majority of the trend has been up since January, which is the trend i am buying into with the idea the probability is higher it continues UP the longer it holds support ( 1.3000/1.2950)
Originally Posted by Clivewaverider
I continue to scratch my head as to how we keep getting to different conclusions on this forum, or should I say why I am out of sorts with general consensus (again).
Chart attached is an update of the one from the weekend and still offers no 'long' thought process for me at all. Add in the MyWave counts I posted and this continues to offer me nothing but reasons to short positive energy.
I am always happy to be wrong (this being a risk based game) but I would not want to be long until my Stoch Moms (these are 8hr versions!!) have bottomed out and tested that MACD.
Is it me? (no need to respond - I know it is!).
Last edited by psperos; 04-30-2012 at 08:43 AM.
Reason: added chart
it all depends on what you are using. I use no indicators except for a combined RSI and CCI indicator that is either green or blue, currently on the daily it is bullish but the trend is sideways...
anyway, most of the people bullish here are not using indicators. Myself, i am buying into the trend that started in January, which is means that when i am trying to buy, it will likely mean its on a dip while your indicators are showing a pullback. Also i use very general wide points, for example, i will look at the rally in January as being supported, then used the 100dma as a level and say "while above the 100dma, i am looking to be long. So a lot can happen above the 100 dma, like right now you are getting short signals above the 100 dma, wheres i see we can pull back from here but will look to buy while above it.
Basically what im trying to say is, everyone here is likely right on some time frame lol.
here is the only indicator i use, its cci and rsi based and it just for a very general idea of direction. you can see now its bullish but look at how useless it was the last 3 months. I find it is good just to confirm bias based on other stuff... its helpful on the 4 hr as well. but you can see the majority of the trend has been up since January, which is the trend i am buying into with the idea the probability is higher it continues UP the longer it holds support ( 1.3000/1.2950)
Trend that started in January???? This is more of a range bound move and not really a trend. Play this like a trend and you just may get burned.
I continue to scratch my head as to how we keep getting to different conclusions on this forum, or should I say why I am out of sorts with general consensus (again).
Chart attached is an update of the one from the weekend and still offers no 'long' thought process for me at all. Add in the MyWave counts I posted and this continues to offer me nothing but reasons to short positive energy.
I am always happy to be wrong (this being a risk based game) but I would not want to be long until my Stoch Moms (these are 8hr versions!!) have bottomed out and tested that MACD.
Is it me? (no need to respond - I know it is!).
Fact is, we are following an interesting pattern. If you look at the Euro component currencies from the mid-90s we are following almost lock step to that time frame. Event he recent range bound moves are included. IMHO, I think you are right about the shorts. As I posted I went short at 1.3250 late last week and will hold for a while. The top is setting and upward momentum is playing out.
Trend that started in January???? This is more of a range bound move and not really a trend. Play this like a trend and you just may get burned.
1000% disagree, on the daily chart there is an acceleration up that started in January and the range bound action the last 3 months has retraced only 50%. Its not my opinion, the chart is saying that. That tells me to buy dips till it fails the range and we are trading sideways with bullish support. this is why people trying to short have been getting burned as it keeps bouncing off 1.300.
Last edited by psperos; 04-30-2012 at 09:24 AM.
Reason: chart
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Originally Posted by Clivewaverider 
