To use chat, please login.
Back to contacts
csc2009
Oct 06 2014 at 14:38
834 posts
Today is just another usual consolidation after big price changes, there seems a strong resistance around the 1.2570 area.

PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 06 2014 at 15:12
136 posts
now there is a buying opportunity (continuation hook) on the 1 hr. chart @ 1.2569 - trade to near 1.2607

"a little bit of knowledge is a dangerous thing"
peeterwoolf
Oct 06 2014 at 15:59
230 posts
I'm waiting for a place to enter short again, as long as the price trading below 1.27, I'm expecting further decline to the downside.

Abdul2012
Oct 06 2014 at 18:37
413 posts
peeterwoolf posted:
I'm waiting for a place to enter short again, as long as the price trading below 1.27, I'm expecting further decline to the downside.


I agree with you on that, good luck.

sherifFares
Oct 06 2014 at 18:56
454 posts
well let's see 1.2625 if it will hold the price or be broken , this will decide the short position if it's possible or not

PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 07 2014 at 06:56
136 posts
Trade reference: EUR/USD buy @ 1.2569
once prices trade through 1.2594 the SL can be moved to 1.2562, or to break-even

"a little bit of knowledge is a dangerous thing"
PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 07 2014 at 06:57
136 posts
Trade reference: EUR/USD buy @ 1.2569
Exit 1: near 1.2607
Exit 2: near 1.2639
Exit 3: near 1.2660

"a little bit of knowledge is a dangerous thing"
PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 07 2014 at 06:57
136 posts
Exit 1: near 1.2607 - mission accomplished

for Exit2 and Exit3 it is important to mange the SL movement properly.
Best way to do this is in 'sections'.

"a little bit of knowledge is a dangerous thing"
PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 07 2014 at 06:59
136 posts
Exit 2: near 1.2639 - mission accomplished


"a little bit of knowledge is a dangerous thing"
PERPETUUMMOBILE (PERPETUUMMOBILE)
Oct 07 2014 at 06:59
136 posts
One rule in price-bar formation trading is:
Do not fight the trend when it is present.
Trading out of a trading range - as I have posted this afternoon - is very simple and has a 95% chance that it works when it is done right.
I have also explained how GAPs work and when the retracement in the direction of the GAP usually starts.
It always starts with a trading range consisting of 20 or more bars, as can be seen on the 1 hr chart today.
According to the rules, bar nr. 17 is the earliest one that should be traded. But it is safer to trade a bar past nr. 20.
The buy-signal I posted was on bar nr. 23 - a very safe bar to trade.

Learn the language of charts and take the guessing out of the game.
Trade without indicators, media manipulation or other people's opinions.
Trade what you see on the charts and not what you think (or others think) should or could happen.
The truth about direction can only be found in the charts.

"a little bit of knowledge is a dangerous thing"
Please login to comment .