Sorry about the loss. It has been my experience that it is difficult to change the trading bias of traders once they have established a position. The better they are, the harder it is to change their mind (myself included).
Am hoping that a few here can pick up on some of my techniques (they are fairly simple) so the extra eyes on the charts can help benefit the whole forum.
Well, I be one of them - hands up! I have written in fine detail on all the reasons I am bullish this pair and have done for weeks now. I am over on the new forum now until I am told not to, so my weekend summaries are there. In short, there are alternative 'counts' that have been so dilligently kept in play for so long now (up that is) and continue to fail to be deletable from the stable of alternatives, that the underlying suggestion is that 'down' is the fake. Of course, I could be being played too but that is fine by me. I am not of the opinion that any one direction is right, just that pips is being made.
Indeed, I put my hands up again and can confirm that it is has been very hard work, covering my longs, scalping both ways etc, but I am not convinced that down is the way to play this. I just count to 13 on impulsive plays and see where the action took us - thus far, there is more than just a chance that all the doubling back over and over confirms that we will be seeing significant strength northwards in due course.
The counter argument could of course just be to follow the trend when it turns up and why make matters hard for myself in the interim - I wished I had the answer to that too!!
The daily chart with the Sep2011 fractal suggests at least one multiday attempt to reverse the trend before the real reversal happens. The bulls should have a better time after the first week in June.
Sorry about the loss. It has been my experience that it is difficult to change the trading bias of traders once they have established a position. The better they are, the harder it is to change their mind (myself included).
Am hoping that a few here can pick up on some of my techniques (they are fairly simple) so the extra eyes on the charts can help benefit the whole forum.
Dear rcop,
There are reasons that I know your techniques work, which I do not intend to elaborate too much.
But this drop to 1.2658 is not normal at all. When I say normal, I refer to the market playing it's kind ways of letting both sides take money, when I say abnormal, I'm saying it's unnaturallymanipulated.
Of course you may think it's because I'm long, and insisted my way.
We will see soon enough.
Good luck! Still visiting here and there all the time just posting somewhere without the punts!
A beautiful mind is much more important than a fat pocket.
The daily chart with the Sep2011 fractal suggests at least one multiday attempt to reverse the trend before the real reversal happens. The bulls should have a better time after the first week in June.
I WAS REALLY PREYING THAT I WILL BE WRONG WHEN 2 DAYS EGO I POST
HERE , THAT TRADING TODAY'S TIMES CURRENCY IS LIKE A DICE...
I AM AFRAID THAT I AM CORRECT ON THIS ONE..
I SEE SO MANY POST THAT MANY PEOPLE START WITH THE WORD (I THINK)
IS GOING 1.29 THE OTHER ONE (I THINK ) IS GOING 1/30 1/40 AND SO OWN...
N O B O D Y CAN PREDICT THE FUTURE!!! I STAR TO REALIZE AFTER THAT I LOST $$$$$
(MAYBE I AM THE ONLY ONE)
AS YOU CAN SEE ALL THE CHARTS IN THE WORLD CAN NOT TELL YOU FOR 50% OR MORE FOR SURE WHERE IS GOING THE EU/US..
LETS HOPE FOR BETTER EASY TIMES LIKE 2005-6 WHEN IT WAS A PIECE OF CAKE!!! GOOD LUCK TO EVERYONE...
Of course one cannot tell where the euro is going, but traders deal with probabilities. Nothing wrong with "I think" posts as those are sharing what they are seeing on their charts. I find this very valuable as it opens my mind to S/R, channels, etc, yet price action is dominant no matter what I think "may' happen.
Too many, I believe, come on here and just copy with others see as targets or trades instead of understanding why they are seeing those thus the copiers are unable to change direction if needed.
It's pretty simple, if it's not going the way one thinks, one changes direction. I remember one trader stating he lost money because the market "didn't do what it was suppose to do." LOL There never is a "suppose to do" with the market.
The market is ALWAYS being manipulted so I no longer
Originally Posted by Paul Chin
Dear rcop,
There are reasons that I know your techniques work, which I do not intend to elaborate too much.
But this drop to 1.2658 is not normal at all. When I say normal, I refer to the market playing it's kind ways of letting both sides take money, when I say abnormal, I'm saying it's unnaturallymanipulated.
Of course you may think it's because I'm long, and insisted my way.
We will see soon enough.
Good luck! Still visiting here and there all the time just posting somewhere without the punts!
even care if things feel unnatural or not. (I know what you mean!!!). I just let the charts tell me what it is doing. That 4hour chart read was very telling. The price action was dropping after tagging the upper Boll20. Being a 4 hour chart, the reversals have a lot of credence since it is hard to turn an elephant around. Once the price hit the midline support, it continued on down, unlike the previous time where the midline support held and the action reversed back to the upper band from the midline. Two midline reversals in a row is highly unlikely. So having established the lower band as a target, it was just a matter of watching out for unexpected spikers and just letting things play out.
even care if things feel unnatural or not. (I know what you mean!!!). I just let the charts tell me what it is doing. That 4hour chart read was very telling. The price action was dropping after tagging the upper Boll20. Being a 4 hour chart, the reversals have a lot of credence since it is hard to turn an elephant around. Once the price hit the midline support, it continued on down, unlike the previous time where the midline support held and the action reversed back to the upper band from the midline. Two midline reversals in a row is highly unlikely. So having established the lower band as a target, it was just a matter of watching out for unexpected spikers and just letting things play out.
Great help Rco. I am still learning from you. Keep posting...
Well, I be one of them - hands up! I have written in fine detail on all the reasons I am bullish this pair and have done for weeks now. I am over on the new forum now until I am told not to, so my weekend summaries are there. In short, there are alternative 'counts' that have been so dilligently kept in play for so long now (up that is) and continue to fail to be deletable from the stable of alternatives, that the underlying suggestion is that 'down' is the fake. Of course, I could be being played too but that is fine by me. I am not of the opinion that any one direction is right, just that pips is being made.
Indeed, I put my hands up again and can confirm that it is has been very hard work, covering my longs, scalping both ways etc, but I am not convinced that down is the way to play this. I just count to 13 on impulsive plays and see where the action took us - thus far, there is more than just a chance that all the doubling back over and over confirms that we will be seeing significant strength northwards in due course.
The counter argument could of course just be to follow the trend when it turns up and why make matters hard for myself in the interim - I wished I had the answer to that too!!
every system has draw down$
as far as my system is concerned we have a bottom in place at 1.2641, and it can not break this until and unless we have a break of 1.2856 number. today i was very bzy developing my new system and i had a alarm set on 1.2658, i bought it there with stops 1 pip under 1.2641, last hour closing was under 2681 which is calling for 2645 only the closing above (hrly time frame) will invalidate 2645. the closing above 2700 or at 2698 is good for bulls, why prices fell because yesterday we had a break out of the down channel and when today london closed they closed back inside the channel which was excellent short opportunity only for intraday, which is now over for me
cut the crap is
bottom is there at 2641 which is calling for 2856 min there i will short
break of bottom and we have very strong number 2601
trade safe buddy!
I am one of those crazy people looking for longs too. If a low is being put in, it's normal for some chops ups and downs, even including taking out major lows by some pips. The low in Jan is a good example. Small risk entry, the low tagged the LML to the pip.
Dear rcop,
There are reasons that I know your techniques work, which I do not intend to elaborate too much.
But this drop to 1.2658 is not normal at all. When I say normal, I refer to the market playing it's kind ways of letting both sides take money, when I say abnormal, I'm saying it's unnaturallymanipulated.
Of course you may think it's because I'm long, and insisted my way.
We will see soon enough.
Good luck! Still visiting here and there all the time just posting somewhere without the punts!
the drop was normal and 100% technical now we have a close just one pip above 2681 which is invalidating 2645 for tomorrow i expect good rally up!
as far as my system is concerned we have a bottom in place at 1.2641, and it can not break this until and unless we have a break of 1.2856 number. today i was very bzy developing my new system and i had a alarm set on 1.2658, i bought it there with stops 1 pip under 1.2641, last hour closing was under 2681 which is calling for 2645 only the closing above (hrly time frame) will invalidate 2645. the closing above 2700 or at 2698 is good for bulls, why prices fell because yesterday we had a break out of the down channel and when today london closed they closed back inside the channel which was excellent short opportunity only for intraday, which is now over for me
cut the crap is
bottom is there at 2641 which is calling for 2856 min there i will short
break of bottom and we have very strong number 2601
trade safe buddy!
If you read my posts over in the other land, I absolutely said I would maintain my shorts till 1.2670 and load up with more longs there. Did I keep to my stated aims - did I heck. Still lots to learn but always smiling.
the drop was normal and 100% technical now we have a close just one pip above 2681 which is invalidating 2645 for tomorrow i expect good rally up!
You tend to come up with good targets but where did you come up with your rules. You know what they say about rules: Rules are made to be broken. Take care, I do think that the weekly high has printed with the higher high yesterday.
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Originally Posted by rcopadilla
Posting Permissions 
just posting somewhere without the punts!
