Fx 2008

[tightstops]

got to pop out for an hour - be interested to see how its got on when i get back

 

[Crap Buddist]

Well not sure how they manage the exits , whether its a combo of scaling out lots and lock in, and let it ride till, hmmm by golly I dont know how they check out. Maybe target punching through stops at next significant low . Seeing what the price does when/ if it reaches that next zone, I can see a little range 156-154 dont know if it will stop at 154 or keep going ..... but at this stage its rejecting 156.

Whats the long term context of the eur/usd ? Is that bearish or bullish ? I suppose one could use that and only trade direction inline with the long term Fundamental Contex. Should get velocity of move on your side and greater chance of trade success I would of thought using those pins.... rather than taking pins against the context.. same with any strat i suppose ...


Do the pin bars (or setups) that fail mean one has ignored the Context ? Or is it something else?

Might be a few EURUSD experts lurking ... who can comment if Context is still Bull or Bear.

 

[tightstops]

scrapping earlier idea and just getting long now with tight stop

 

[tightstops]

maybe they wait for another pin the other side or like u say scale out
long term i think has to be bullish
fundamentally us dollar is a bag o shyte but maybe the price has told us that and is fairly priced now? i think prob more upside long term personally but knowing whether the dollar will be stronger or weaker in 6 months is no good to me i spend most my time in the 1 and 5 mins on euro

 

[tightstops]

if im hung over or havent had much sleep or not had any exercise recently irritable/tired etc i play hourly plus with the old men.
not much point taking on the quickest and sharpest if you dont feel in good nick else u find yourself looking at missed entries and exits all day

 

[tightstops]

i suppose what the trend is doing depends on what time frame is being looked at. from 8th may looks like an uptrend but from 22nd april looks like downtrend and any longer is a one way street. maybe that pin was the end of the retracement of the move down from 22nd. i favour longs here tho

 

[tightstops]

im done for the day putting stop in at 15499 and hoping i get lucky overnight

 

[Gumping]

If you also draw a trendline down the previous series of Lower Highs in the chart, you'll see a lovely wedge formed, which EUR/USD blew through to the upside late last week. I'd say it's just taking a breather at the mo, and maybe we're good to get on long for a ride up. I bought in at around 1.5000 and hopefully, trailing a pretty generous stop-loss behind me will see me into a nice, profitable trade

Or it will put me on my ar*e (where I generally belong )

 

[Gumping]

If you also draw a trendline down the previous series of Lower Highs in the chart, you'll see a lovely wedge formed, which EUR/USD blew through to the upside late last week. I'd say it's just taking a breather at the mo, and maybe we're good to get on long for a ride up. I bought in at around 1.5000 and hopefully, trailing a pretty generous stop-loss behind me will see me into a nice, profitable trade

Or it will put me on my ar*e (where I generally belong )

Looking good so far! I was in at 1.4497, and still on board.

Strange if you look on the smaller timeframes on this morning's move, you'll see a pretty violent countertrend move at almost exactly 1.5600. The market then surged up through it. It's been doing this for a while now. Reckon the ECB was defending this level?

 

[tightstops]

i see what you mean about that wedge looks pretty bullish and its moved some last night unfortunately for me my stop was too tight so lost about 5 pips instead of making about 140
its hard to tell whether people think the dollars crap enough to make another of the moves weve seen recently (13360-14970 and 14440-15900)
i dont know much about fundamentals but i know theyve got a clown in charge who likes printing money and spending hundreds of millions on wars and lowering interest rates. from 2001 its pretty much halved in value and shows no sign of stopping.
that 14440 does look like it went a bit nuts so steep can it do another of them so soon?
but not sure how anyone could be short long term i mean over the last few years theres been about 20 occasions where its pulled off from its highs and you could have said i think it might start going down now. euros = good dollars = bad makes this pair a no brainer?

 

[Gumping]

i see what you mean about that wedge looks pretty bullish and its moved some last night unfortunately for me my stop was too tight so lost about 5 pips instead of making about 140
its hard to tell whether people think the dollars crap enough to make another of the moves weve seen recently (13360-14970 and 14440-15900)
i dont know much about fundamentals but i know theyve got a clown in charge who likes printing money and spending hundreds of millions on wars and lowering interest rates. from 2001 its pretty much halved in value and shows no sign of stopping.
that 14440 does look like it went a bit nuts so steep can it do another of them so soon?
but not sure how anyone could be short long term i mean over the last few years theres been about 20 occasions where its pulled off from its highs and you could have said i think it might start going down now. euros = good dollars = bad makes this pair a no brainer?

Tightstops sounds like a good name!!

All depends on the TF you trade I s'pose - I don't go much below 1hr myself. Don't know much about the fundamental view either. But current affairs does a pretty good job: It seems that the US administration allow Wall Street to push them around, they print money to pay for it's wars in foreign lands (Money supply figures have been discontinued!!!) and the country has a massive trade deficit.

Compare this with the EU where the ECB pretty much does what it's supposed to (ie maintain price stability - OK so maybe the BoE don't!), regulates the banks and reigns in their excesses, the EU has a pretty even trade balance and that the bureucracy in the EU wouldn't allow them to go to war with an ice cream sundae, and I think you have a slightly more attractive candidate for a reserve currency.

And a decent carry-trade too!

Maybe Bush getting out of the White House might change things around a bit, but it could be a long time before people start to trust the US administration again.

 

[Gumping]

Getting back to the charts, you reckon maybe we're taking a breather at 1.5670 - 1.5675? Or is the US open going to blow through it?

 

[tightstops]

i think its probably more likely to lose a few pips than gain a few at the moment

 

[SirFrancis]

Every now and then ... ...

I rarely post on the forum, but read them just about every day. But every now and then ... ... I feel the need to share good news ... ...

My first ever 200 point day ... ...

£2,000 up - including the spread!

I'm off to the pub.

:clap:

 

[tightstops]

nice one have one for me
im going to try a small short here on euro
and a small long on usd yen

 

[Gumping]

I rarely post on the forum, but read them just about every day. But every now and then ... ... I feel the need to share good news ... ...

My first ever 200 point day ... ...

£2,000 up - including the spread!

I'm off to the pub.

:clap:

:cheers:

160 pips up for me so far

 

[tightstops]

closing that mess at about break even

 

[tightstops]

seems everyone except me is cleaning up im going to try buying some euros at 51

 

[tightstops]

stop at 36 and if that gets hit im going down the pub too but poorer unlike u lot

 

[Gumping]

stop at 36 and if that gets hit im going down the pub too but poorer unlike u lot

So are you out then?