Dinos
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Just got back in, thank f**k for stops, totally cocked that bugger up, one hell of a drop, wishing I was in, never mind, always Monday, have a great weekend all.
B
Black Swan
Yes it did..I did say I thought there was plenty of downdraft left in the move/s...
Still, I can't grumble. EURUSD - important res/supp levels for the next 24hours
The pair ended the week on a bearish note, the reason being new fears related to the public debt of the countries situated at the periphery of the euro-zone. My expectation voiced in the morning (I had an upside bias) were negated. The first level of support (near 1,3270) gave in and the pair bounced only at my second support (near 1,3120).
My preferred oscillator (RSX on 14 periods) is saying now that on the short term we are a little oversold. Also the pair is at the first band of support. But, having in mind that usually the week before Christmas and the week after are very low on liquidity, anything could happen in the following 10 trading days. If you don’t believe that, just look at the charts from December 2008.
I’ll be back on Monday morning (during London open) with new support and resistance levels. For Sunday night I just prefer to stay on the sideline.
The pair ended the week on a bearish note, the reason being new fears related to the public debt of the countries situated at the periphery of the euro-zone. My expectation voiced in the morning (I had an upside bias) were negated. The first level of support (near 1,3270) gave in and the pair bounced only at my second support (near 1,3120).
My preferred oscillator (RSX on 14 periods) is saying now that on the short term we are a little oversold. Also the pair is at the first band of support. But, having in mind that usually the week before Christmas and the week after are very low on liquidity, anything could happen in the following 10 trading days. If you don’t believe that, just look at the charts from December 2008.
I’ll be back on Monday morning (during London open) with new support and resistance levels. For Sunday night I just prefer to stay on the sideline.
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Lord Flasheart
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Morning all
I couldnt trade on friday at missed two beauts for old mas method,amd wont be doing much today. Sods law again no doubt
I couldnt trade on friday at missed two beauts for old mas method,amd wont be doing much today. Sods law again no doubt
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a_gnome
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Saw the Lord Flasheart episode of Blackadder last night on telly: thigh-slappingly good stuff.
FWIW I'm still trading at present though the markets are very quiet so there are not many opportunities around and I'm tending to take profits quickly rather than running positions.
Lord Flasheart
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Scotty2Cues
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a_gnome
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Still worshipping God?
Last I heard he'd started worshipping me!
Ha, ha, ha, ha!
The stock markets continue to go up and EURUSD continues to go down. Still, the pace of the decline is doesn’t look very clearly impulsive. We could still be into a very complicated correction of the last move up from between 1-3 December. But this is just subjective observation. To be objective I should look at tomorrow’s calendar and notice that again we don’t have important events neither in Europe or in USA. But in Asia we will have the monthly monetary policy statement and BOJ press conference which could move the markets significantly.
From a technical point of view, my proprietary hourly bands show me that EURUSD is entering oversold territory. But if this move down will become impulsive (because until now I don’t see it this way), than there’s clearly more room to go south. I see important support near 1,3044. Bellow that we could have another support near 1,2975 (where my proprietary daily volatility bands currently lye).
To the upside I see resistance near 1,3266 and again near 1,3360 (Friday’s high).
From a technical point of view, my proprietary hourly bands show me that EURUSD is entering oversold territory. But if this move down will become impulsive (because until now I don’t see it this way), than there’s clearly more room to go south. I see important support near 1,3044. Bellow that we could have another support near 1,2975 (where my proprietary daily volatility bands currently lye).
To the upside I see resistance near 1,3266 and again near 1,3360 (Friday’s high).
Attachments
On reflection, to expect a reliable move for a 2:1 RR I would first need to see a good test of the bottom. Scrapping it now.
Lord Flasheart
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long eur/usd at 1.3152 s/l 18
Lord Flasheart
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usual amounts, Old ma is reduced from the start( i plan to double stakes every 500m pips in profit) action may be slow but no reason not to take trades. Why arent you trading?. How did you finish for the year?
Old ma is down 161 at mo. Missed two lovely traes on friday that would have nearly got me to square
trendie
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a subdued end to the year. effectively, my recent losses were the profits from Sept.
So, Oct/Nov/half-Dec wiped out Septs profits.
backtesting where I stop trying to be clever and take the 70/30 Stochs as trend-change and just take the 50 as trend change would have been the same(ish) for good trades, and weirdly same(ish) for losses.
nett difference = marginal. but fewer trend-reversal signals on choppy days, ie, dont get hit for "3-losses and out" as often on a choppy session.
(but, i think I leave more on the table, as I wait longer if a reversal takes place. this last comment an eyeball observation, no data.)
EDIT: putting aside my emotions, was a good year. so will still be in the game for 2011.
Lord Flasheart
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ive had one month wipe out 4 months,this year. Havent really made since july
Prior to that was a great 12 months. But as explained in many posts why I am now totally committed to old ma as my way of trading. Ive only had one deviation from the method and it paid off so discipline and mindset have been spot on
Prior to that was a great 12 months. But as explained in many posts why I am now totally committed to old ma as my way of trading. Ive only had one deviation from the method and it paid off so discipline and mindset have been spot on
