Yep, and I accidentally had my stop right on that bottom bollinger line and got stopped out before I I could fix it. This demo is the US version with the FIFO nonsense on it and I’m not as quick. Hence my getting smacked around. :mad:
Rally back up started in the 640-635 area, I checked 30 and 45 minute time frames to see if it bounced off of a bollinger line, but it didn’t. Any clue what caused the bounce SanMiguel?
Don’t look at too many timeframes or you will find reasons all over the place 
No idea what caused the bounce, could just be a retrace after a down move. There is a SR line from the 1st at 6638-6649 but price has been below that since.
It’s still within the tunnel on the way down on the 15min chart and roughly between the 20:1 and 20:2 so I’m still short.
[B]Edit[/B]: I’m out as PA has closed above the tunnel.
You’ll notice that PA is trending up at present on the 4hr chart. Stick up a 80:1 boll on the 1hr chart (same as the 4hr 20:1 boll) and you will see the bounce areas. I want to wait a couple of hours to see what happens.
Yeah, I don’t keep many open, but I do get curious. Got a weak short in off of the bounce back up to the center line on the 5m. I’m going to hold out until it(hopefully) hits the the bottom bollinger on the Hour. (I ended up riding this one for 90+ pips, and still riding it at London close. Closed with 75.)
Decision time going into the hour before Europe opens. After a 200 pip drop last night there could easily be a bounce back up, or just as easily a continuation down to the bottom bollinger line on the 4 hour. Anyone care to venture a guess? (80 pips upward, in at 1.6550, riding) 
Right…that’s roughly a 50% retrace from yesterday.
I’m going to look for a sell on the 1hr. I’d like to see the 15min TF become a bit flatter first…
Yep, sure is, from 1.6530 up to 1.6630ish at the moment, I honestly was expecting a drop on down, but set an entry at 1.6550 to catch any explosions upward. That’s what happened. I’m going to ride this one out till US open now that the Jappies have gone home. Still fighting upwards too much for me.
I’m on board as well at 1.6553. Set S/L to BE and my T/P at 1.6680. Go go go.
The trouble is the middle line bollinger on the Day chart. It’s having trouble pushing through. Could be the time to exit. Hard to say though, but after last night’s aggressive drop, coming back to power through that middle line might be a bit much to expect. I’m out at 1.6620, I think it’s going through the middle line on the 5m… and there it went. It was either through the middle bollinger on the Daily or the middle bollinger on the 5 minute. I wanted to stay on, but I’ve got to sleep, and if I stay on I’ll be up till London close.
Not sure what RC’s take is on this but I find the middle bollinger on the daily a bit hard to judge by. Of course it’s just the 20MA of the daily price but as to the exact support/resistance effect of it I don’t know - I prefer 4hr/1hr for that to catch intraday trends.
Stick a 120:2 Bollinger up on the 4 Hour and you’ll see what I’m talking about, 4 times now it’s held back the advances. If the bulls break through, I’m expecting a move toward the upper bollinger on the 4 Hour.
Were into consolidation right now but my read is slightly favouring a break north. Currently 5m is flat but 15m boll is at 2 o’clock and PA is running along the upper 20:2 1h boll. Possible break to 1.6658 - 1.6663? Looking at the 15m center line boll to meet PA and push up price.
RC,
Do you wanna trade news? I got the feelings that US payrolls report may be declined by 160 while Unemployment rate will decrease by .2%.
John
Nope… I never trade NFP.
Yep, I was expecting it to bull on through the middle line on the Daily, but I missed it break through because I was going home from work(left about 3 minutes prior to Mr. Carter’s post #2352). That was just too big of a stampede up from 1.6530ish when Euro/London came on, and it just kept on trying to get through. If you look at the 4 Hour with a 120:2 on it you can see where it was coming down and bouncing up off of the middle line of the 20:2 into the Daily middle line. On the 5m I count 8 times it tried to bull through that daily middle line before going on through. Damn near got my bear on and entered a sell myself. I’m hittin’ the hay, my guess is that when New York opens you’ll see it go on up to the upper bollinger on the 4 Hour if it hasn’t already. Perhaps beyond, but doubtful. I wish I was along for the ride but I’m borderline overtraded and need my beauty sleep. Enjoy, but remember it’s Friday. EDIT: A good example of why not to trade tired, overtraded, during the news, and on Friday. Total reversal, only thing I got right was going to bed instead. Didn’t even make to the the upper bollinger on the 4 Hour due to the NFP surprise.
Well my TP got hit. I’m out… but good luck NFP traders.
So who all got burned today because of the NFP surprise? In at 1.64911, going to ride the tail end of this 200+ pip drop and glean a few extra pips before the week closes. 30+ already.
I went to sleep when I was up 70+ pips and woke up to breakeven :(. Oh well, live to fight another day. I will wait for indications of a huge reversal coming on Monday.
I was expecting it to go down, but I don’t trade the news. Now I wish I had! That’s ok, there’s plenty of gravy trains out there if you miss one.
Imagine waking up and you’d set your stop to -50 instead of break even? That would kinda take the skip out of your step going into the weekend. Ask Mr. Carter about Friday’s having earned their reputation. Be glad you set that stop to breakeven. I’d figured on a drop at some point, but expected it to hit the upper bollinger on the 4 Hour before.