Sympathy, if I wanted that I would go to my mom. My wife does not even give me that, she is like âwhat did you do, trade too muchâ.
Yeah it gets confusingâŚbut to answer your question. -5
Thanks sandpipper.
ooooooops
H4 chart of EU down at the moment, but needs to break 2570 to continue down overnite to 2519 which if broken shall be dragged down by gravity.
2513 now showing on H4 support
shouldl be upside but overnite sure looks down
2300 sure looks good.
apologies for using too much hair lotion â my mind is slipping !
mp
With the US CPI coming out today and the EU pushing up over the last 3 hours would you expect it to drop after the news?
I am careful about a short here-I am inclined to a long position at this price. But as MP mentioned, below 1.2575-1.2555 it will drop to a 1.2475.
Currently above 1.2620, I am looking to book 1.2700.
Good day
The pre-news action seems to be down, but I have noticed after the past few news releases that there is a trend for 15-20 minute in one direction and then a reversal to a much further place. Not sure if that will hold true today, but hey I have seen it in the past few major news items.
Edit: Actually about 10 minutes before it seem to start heading upâŚ
YES, and then up
MP
with the added importance of the NYSE opening bell on forex movement, a quick glance at the futures will tell you in what direction the DOW will open and move ---- once you know the association between the DOW and your currency, you can tell what direction it will move in for the FIRST HALF HOUR after the 9:30 AM open.
also take care, as you get a normal stock market reversal at 10AM, est which also alters the direction of the forex market
mp
the time of day has a whole lot more importance than you can ever believe !
MP, you never stop amazing me. Not counting the very last post about the Dow correlation, how did you know the EU was going to go up after it went down? When you made that call the CPI was expected to be good, which is bearish for the EU pair, and the dow futures were -90, putting additinoal downward pressure.
Surely this forecasting is not something covered yet so far.
DONT FOLLOW MY TRADE, but presently EU looking at 2921 i believe.
THNX husky ---- stepping behind the curtain and rattling my chicken bones and ouji board, i think âprophesyâ is an art and science rolled into one.
first you learn to walk, then run, then you put everything together and you figure out where the price is going, and if you do it often enough and well enough, you get to step behind the curtain also !
i wish i was a doctor, so i could bury my mistakes, cause i make those also !
sometimes you get lucky and sometimes what the indicators are saying actually make some sense !
mp
Thanks MP, I will take your advise and not follow that trade, at least not opening it now. Seems like the last time Uncle Sammy stepped in it was over the weekend, so who knows what may happen to citi and boa on Sunday.
I was lucky enough not to have any shorts on EU during this mid-day, my long had hit a tsl, so I did not catch the big ups. I hope all the thread regulars fared wellâŚ
Thanks for the input guys.
I played that news on the Aussie. Guess I am somewhat of a patriot.
Won alittle each way. Nice way to finish the week.
Have a good weekend everyone!!
On Sunday, when the market opens, I will wait for the pair to go cross 1.29. Then I will short it for 150 pips. Only One Lot One lot at a time is fun-tas-tic my friends and much easier on your sleep, trust me, I have been thereâŚ
What a week this was boy! I am too coy to admit, but I think I made some good calls too :o
But mostly for me this was a game of good MM. I used about 1:6 leverage and used averaging principles. This is what kept me safe and a very handsome pip profit
like a fine wine, i would give that 2900 break a little room for âairâ, as it is better to enter a short AFTER the downside goddess smiles, rings the bell and signs the contract to guarantee its movement then to invoke her wrath by jumping in way ahead of time !
mp
hehe yep, that is true too. but of course I meant will do short based on what we see when we get there 
Tex
its going higher than my first thoughts now that ive got more candles to work with.
having this many candles to now play with, the McGâs and i shall celebrate in true tuscan style this weekend ----
mp
whenever you get time-write us a post that elaborates how do we work with these candles. I mean do you study their shape, size, both what??
Would be an added weapon in the arsenal!
with sadness in my heart, i must admit i never even look at candles for trading information â its all in the indicators, trend and s+r (for me)
my feeling was always that support or resistance was where things happened, so i stopped looking and waiting for a candle pattern to form, having already gotten the information i needed.
now, candle patterns work and work well for those who like to do that stuff, and theres even âpattern recognition indicatorsâ for the MT4 platform which i once used and had loads of fun with â sorta like a map of the constellations in the planetarium !
but about candles, youll need to go somewhere else for information â not my cup of tea !
the chart kinda shows why â reversal signal came after the number 3 semaphore (still havent found my original signal that gets rid of that thing) and consisted of TWO doji candles which were EXACTLY on the lower LRC, so there wasnt much to figure here !
the second jpeg shows how candle patterns are even worse on longer timeframe charts such as the H4 â notice that the price hit barrys resistance AND the LRC 3 candles BEFORE the bearish candle even began forming, and so we automatically figure SOME kind of retracement will have to happen after resistance, and we get to watch for the bearish engulfing candle which only took another 12 hours to develop and by the time we see what kind of a candle it is, the move has already gone half way down to the tp point !
sorry tex, but i just aint the guy for that discussion even though they are a highly viable form of trading ! (aint it fun how many different ways there are to dress your mistress ?)
BUT for those who want to play with candles, showing the greatness of my personality and desire to help even those unfortunates who wish to gaze upon shapes that are not feminine, ive added a few things to entertain you over the weekend, down there at the bottom !
enjoy and trade well
mp
Candel Sticks.zip (1.25 KB)
PriceAction AHA 0_2.zip (55.3 KB)
Pattern_Recognition.zip (2.37 KB)
ohh no, I just got a bit confused when you said you have a bunch of candles to play withâŚmyself never look at the candles. dontn really believe in any of the candle patterns and stuff-was just wonderingâŚ
good nite and good weekend