Unfortunately for me, stock market and oil rebounded at end of the session, taking E/U price above break level on NY close. So my trade might take more time to develop but the move up does not invalidate my analysis yet, can take up to a week… hope so 
In the meantime I am fading the rebound… have made 20 pips already
Well, I’m out as well with some nice pips. There is a fibo bounce and it could just be a pullback. Letz look tomorrow and beyond what chances are there. If it still looks bullish and I can buy cheaper, even better.
Sittin’ and watching. If I can get in on a buy at around 1.4120-1.4140, I will. If not, I’ll wait until the London Bridge opens, and see what the rest of the Asian brings.
I put on a short at 1.4190 with a 1.4100 TP and 1.4235 SL. See what happens overnight!
[I]PS anyone ever look at Oanda’s summary of open orders and positions? It’s pretty interesting!
Here’s the link Forex Order Book | OANDA fxTrade[/I]
Really makes me appreciate being flat…
Some of those people are real optimists!
MT,
Are you referring to all the open short positions?
Its a simple enough equation. If the majority of retail are long, go short… short, go long. LOL Well my SL is now 13 points inside the trade, currently at 46… so I could care less now… time for some shut eye.
EDIT: Just realised… 13 points… fitting for quadruple wiching! LOL!!!
Yeah D-Pip. Like the open ones on the cable down at 1.55. Or the open spot gold shorts at $1,350.
Or those open longs on the AUS/USD up past 1.09
Those at least pay interest, so there may be some logic there. I still wasn’t looking for longs at 1.09. I just sat on my hands.
Gotta cut things somewhere… Hope only ever gets one so far.
Reality will bust an account.
If you can make sense of where the majority is in that mess, have at it!
They looked fairly evenly scattered up and down the line there.
It looked like the majority had no freaking clue wtf they were doing.
EDIT: I should add that I was once one of that majority too. I was by no means bagging on anyone. It’s such a hopeless feeling watching price run away with your account attached.
I just hope the light comes on soon for some of those, if not all.
Got my price, in long. TIGHT stop, we’ll see:D
EDIT: Welp… That didn’t take long… RELOAD! LOL
Out +40, lost 15 the first trade, net +25.
But the big winner of the night was my GU short. Got in at 1.6158, and took 50.
I would stay around for the London, but… I’m done:D
Nitol!
Good morning folks!
Looks like I got out right at the start of the Asian session. Now it’s hovering around the pp and looks a little undervalued on the w/d/h1. What to do? Crazy Friday, lol.
Regarding the majority, yea I am with you MT. They have no clue at all. They can be right or wrong. What about an indi and a statistical research about that, lol. Anyways, those orders might have other reasons. Like hedging of institutions. They go to save the price of today to buy something at that price tomorrow. They are not running for trading profits.
Caught +18 on E/U drop this morning. Nipped out after price looked to have bottomed by 1.1430 and had retraced some. Brings me up to +4% even for the week so I’m on the sidelines until Monday. I just know if I try to get cute and nab a bit more I’ll end up taking a right smack on the chops!
Pippedipip. 60+ pips so far. Looks like a bear trap.
Well, 80 pips. I guess I’ll retire for today, lol.
Just gotten around to looking at some of those open positions on Oanda. Ouch. Nothing like going long on silver at 49 for a tremendous kick in the teeth. Or the guys who shorted silver at 30 presumably back in January or so - painful for quite some time for them before getting some relief. Whole rake of people not not enjoying GBP/JPY’s fall with their long positions at 138-140. I guess some could be part of hedging but there’s others who just have to be:
Bad news: My stop loss is about to trigger for a -180 pips
Good news: Made +125 pips fading the bounce
-55 for the day if price goes above 1.4320
Well, if I look at that H4 bearh channel it could hold. Not sure how long that channel is valid, though. It’s already turning up. Eurusd is still undervalued on d1/w1 and on w1 there is a pretty tl going up and a even more fancy bull wedge forming. Plus on H4 the eur is the sucker of the week. So, who will pick that cheap bargain next week? 
This is a really long thread.
yes and you just made it 1 post longer