FOREX PRO Weekly October 10-14, 2011

yousuf

Private, 1st Class
Messages
49
hey sive.

hey damian, i understand your point of view and point of help,

but realistically and fundamentally euro should be going down, and i had my short orders at dinapoli's over bought level for today, which i thought and for that matter sive also mentioned in his video, that they would be reached, but it did, my short order got triggered and the price accelerated.

We had more reasons to believe that market will go down, and i still think my entry is valid. things didnt just go as well as planned.

im still holding because i believe the market will fall based on many other reasons and not just one.

however, i respect your help and wish you the best of luck

yousuf.
 

Damian1987

Corporal
Messages
149
hey damian, i understand your point of view and point of help,

but realistically and fundamentally euro should be going down, and i had my short orders at dinapoli's over bought level for today, which i thought and for that matter sive also mentioned in his video, that they would be reached, but it did, my short order got triggered and the price accelerated.

We had more reasons to believe that market will go down, and i still think my entry is valid. things didnt just go as well as planned.

im still holding because i believe the market will fall based on many other reasons and not just one.

however, i respect your help and wish you the best of luck

yousuf.
Of course buddy!!! not every edge works, I didnot try to suggest your trade was wrong , only suggest that there might be clearer signs of reversal within the area we are standing now and with the patterns that are currently developing. For example , on this 15 min chart we see that COP would clear the highs (as it did) and now hourly chart shows inverted hammer at the top (bearish signal) . I might consider shorting the market on hourly or 4-hour basis if next hourly bar closes below the opening price of the inverted hammer.
 

Attachments

yousuf

Private, 1st Class
Messages
49
Of course buddy!!! not every edge works, I didnot try to suggest your trade was wrong , only suggest that there might be clearer signs of reversal within the area we are standing now and with the patterns that are currently developing. For example , on this 15 min chart we see that COP would clear the highs (as it did) and now hourly chart shows inverted hammer at the top (bearish signal) . I might consider shorting the market on hourly or 4-hour basis if next hourly bar closes below the opening price of the inverted hammer.
I wish you the best bro, and the last time the market closed above overbought level was on the 13th of january 2011, and today, just when i decide to short it lol.

Yous.
 

yousuf

Private, 1st Class
Messages
49
hey sive.

hey damian, did u short the market after the inverse hammer bar? on 4 hour chart.
 

Triantus Shango

Sergeant Major
Messages
1,372
May I reccomend waiting for sell signals before entering short?????? I dont know about u guys, but I dont see anything wrong with current move. I identify it as a nice resistance zone and that's it. If market shows it's gonna drop I'll follow. 4-hour chart and 1-hour chart attached. Even though we can see that we are right in the resistance zone, I will wait for clearer signs to go short...maybe even wait for a little downtrend and then selling off the first rally.
Wise words indeed. I agree. I was just kidding around btw re betting the farm.
 

Damian1987

Corporal
Messages
149
hey damian, did u short the market after the inverse hammer bar? on 4 hour chart.
I shorted only after hourly Stop-grabber and closed 5 min ago at BE (-4 pips to be exact) since 3 periods where gone after I opened the position and I wasn't on profit . Now I'm off for the day, so even if it's there the 4-hour hammer bar will have to wait until tomorrow, =) .
 

Triantus Shango

Sergeant Major
Messages
1,372
yousuf

am short 8 lots from around 376x. 9 pips in the hole right now, i mean, losing 9 pips. stop loss 100 pips away. here's what i say to mr market: bring it on!!! let's see who bleeds first!

ahum... well, tha'ts kinda stupid to say... of course, mr market can crush me anytime. but i have great hope today. for whatever reason. 3640/50 is the target, which is the mid-BB on H4.
 

cashcorn

Recruit
Messages
4
I went long last thur (1.3400) with the 1hr chart when it crossed the 50 exp moving avg(little risky). have moved stop to 1.37:)
 

Geert Anthonis

Private, 1st Class
Messages
33
Avafx

...
AVA is not an ECN. On a regular basis I get requotes. So there is some delay in order processing. I have not found the best broker, yet.
...
Kind regards, BackSpace
Hi Backspace,

I have been with AVA for 2 years now and in all that time I can honestly say I have had maybe 2 or 3 requotes and those were always during periods of high volatility. They claim to be a no dealing desk outfit and I think they are.

I just mention this because manual trading during very volatile moments would create situations in which your orders does not reach the market fast enough to pass. Secondly Sive always advices us to stay flat during times like that. Something to consider maybe.

Happy pipping,

Geert
 
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