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EURUSD 6E Euro
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EURUSD 6E Euro

  #1021 (permalink)
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monpere View Post
Exactly my point. Stating what to me is the obvious, maybe not to others, granted. But, regardless, my question would be, if support breaks what will you do? if does not, what will you do? What will it take for you to put a trade arrow on the chart and where? Not challenging the views expressed, just asking how does this analysis transform into a trade? Of course 'None of your business' would be an acceptable answer, just as any other answer.

My chart answers those questions. I don't know any other way to tell you.

I can't tell you what day, time, or price I will enter a trade in the future to the tick, because it is impossible. I've already told you what I will do if support holds, and what I will do if support breaks. I've told you my approximate targets. And I've told you what I am looking for either way.

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  #1022 (permalink)
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monpere View Post
Exactly my point. Stating what to me is the obvious, maybe not to others, granted. But, regardless, my question would be, if support breaks what will you do? if does not, what will you do? What will it take for you to put a trade arrow on the chart and where? Not challenging the views expressed, just asking how does this analysis transform into a trade? Of course 'None of your business' would be an acceptable answer, just as any other answer.


I think your looking for more of a "how to trade" than just what others take on the Euro is...Which is the subject of this thread.

That being said, I do know what your really trying to say but I think as was said before it's hard to post where an entry to the tick could be had.
A lot of the guys give out areas they are eye-balling and as long as they point out WHY they are focusing on a particular area that should be all anyone should expect.

The rest is up to the reader of the post to employ his methods to determine if he should initiate a trade.

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  #1023 (permalink)
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monpere, you and Mike are having an interesting discussion. I share some of your view as i share some of Mike's. It is generally assumed that an opportunity is usually found at S/R levels and on pullbacks within a trend.

Questions we need to explore and precise if we want to avoid a clash of opinions:

1) what let's you believe a given level is a key support or resistance. What characteristics make this level seducing to you and presumably to a vast number of traders in your opinion.

once a level is identified as being significant,

2) what do you need to see that would lead you to believe the level will possibly hold
3) what do you need to see that would lead you to believe the level will possibly break
4) what will you do if your expectation regarding points 2 & 3 fails specially if a position is open

In short, we all need to deal with these items but failing to state the principles we follow for future price direction which helps shape our expectations in a given context make our discussions hard to follow.


monpere View Post
Exactly my point. Stating what to me is the obvious, maybe not to others, granted. But, regardless, my question would be, if support breaks what will you do? if does not, what will you do? What will it take for you to put a trade arrow on the chart and where? Not challenging the views expressed, just asking how does this analysis transform into a trade? Of course 'None of your business' would be an acceptable answer, just as any other answer.


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  #1024 (permalink)
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My point is there are dozens of speculation here everyday, and no one ever goes back and says, yesterday I presumed this, it came to fruition here, and entering here would have made 7000 ticks from here to there, or I was right over here, I was dead wrong here. After all that's what we are here for, to learn to trade, not to train to become talking heads on CNBC. How about we all use one chart with our previous analyses, so we determine how our analysis held in hindsight? Otherwise, it's just spurious trading jargon on a screen.

Anyone who is familiar with my posting on the site knows my trading approach and method. Check out posts #975, #999 or any others I may have posted here or elsewhere, as examples of what I am talking about. Anyone who is interested in divergence can look at one of those posts and know exactly my analysis and exactly the trades that would result from that analysis, and how those trades turned out or would have turned out. That's all I am talking about, follow up on your analyses, show us how they turned into potential trades, and how those trades would have turned out.


Last edited by monpere; February 15th, 2012 at 08:53 PM.
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  #1025 (permalink)
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Right I will throw my hat into the ring as it were. I have an order to go long at 1.29615 spot and a stop @ 1.2926
Target is 1.3100 all as shown on the chart.

EDIT :

Well its a bitch sometimes, missed me by 11 ticks. cancelled the order.

Attached Thumbnails
EURUSD 6E Euro-bmtlongeu.png  

Last edited by rassi; February 16th, 2012 at 10:38 AM.
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  #1026 (permalink)
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monpere View Post
............not to train to become talking heads on CNBC.............

I agree with monpere 100% on one bit though (the other points I think are very arguable) – that point is, as a trader I need to be honest with myself, and in my trading, that if I had a view – would I act on it? If not, then why even talk about it. Over the past 10days I spotted 4 swing trade opportunities (on QM/CL, on EUR, DX, Soya and Silver). I only acted on QM, EUR and DX – and on EUR spot I had really small size, so my conviction was missing in parts. In that aspect of personal responsibility (and not being a talking head) I need to be more aware.

So here was my take on the EUR/6E (there is video on post # 16458) that mentions some of my day trading thinking. Swing trades incorporate some of that here.

1. On the daily, there is Fib extension from pin bar marked “A”
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2. Next move to 240M – the same zone, reflects another Fib retrace that is marginally lower than the zone on the daily, but you can see from the wicks how price is struggling here. Incidentally, this features the 3PDH (see George Lindsay), I use 3PDH in principle, not in time. My target is the opposing Fib Extension at 12975ish (at least). The wicks and engulfing bars show me change is at hand. I was still expecting a blow off to 134 or 135, but the 60M told me otherwise.
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3. When I looked at the DX, I decided to act – my entry was on the 60M –
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4. The stops would either be violation of the zone with solid candles, or news, or a losing 1% of the account (or a combination of any of the above).

Now, here is the kicker – Steps 1 to 4 should mean nothing to you. Because 3months form now, I would have either added to my method, or taken away, or otherwise changed. So the technique is almost irrelevant, but the idea was important. And the idea can be seen on the naked chart anyway (just as I mentioned on post #16458)

Now I disagree with most of what of you posted, but after a moment of reflection – I agree it is easy to simply login in post charts and whatever else, trying to look like market masters et al, I am guilty of that pomposity occasionally, so in that aspect alone – your rant was indeed helpful.

PS – as of this moment all 3 swing trades (DX, EUR and QM have hit targets, so that is very satisfying). It tells me my ideas were correct, but conviction was lacking in some. Also, I make no claims whatsoever as to the the validity or "rightness" of my method. This could all be jargon, you decide. I know where I stand.

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  #1027 (permalink)
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Deucalion View Post
I agree with monpere 100% on one bit though (the other points I think are very arguable) – that point is, as a trader I need to be honest with myself, and in my trading, that if I had a view – would I act on it? If not, then why even talk about it. Over the past 10days I spotted 4 swing trade opportunities (on QM/CL, on EUR, DX, Soya and Silver). I only acted on QM, EUR and DX – and on EUR spot I had really small size, so my conviction was missing in parts. In that aspect of personal responsibility (and not being a talking head) I need to be more aware.

So here was my take on the EUR/6E (there is video on post # 16458) that mentions some of my day trading thinking. Swing trades incorporate some of that here.

1. On the daily, there is Fib extension from pin bar marked “A”
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

2. Next move to 240M – the same zone, reflects another Fib retrace that is marginally lower than the zone on the daily, but you can see from the wicks how price is struggling here. Incidentally, this features the 3PDH (see George Lindsay), I use 3PDH in principle, not in time. My target is the opposing Fib Extension at 12975ish (at least). The wicks and engulfing bars show me change is at hand. I was still expecting a blow off to 134 or 135, but the 60M told me otherwise.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


3. When I looked at the DX, I decided to act – my entry was on the 60M –
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

4. The stops would either be violation of the zone with solid candles, or news, or a losing 1% of the account (or a combination of any of the above).

Now, here is the kicker – Steps 1 to 4 should mean nothing to you. Because 3months form now, I would have either added to my method, or taken away, or otherwise changed. So the technique is almost irrelevant, but the idea was important. And the idea can be seen on the naked chart anyway (just as I mentioned on post #16458)

Now I disagree with most of what of you posted, but after a moment of reflection – I agree it is easy to simply login in post charts and whatever else, trying to look like market masters et al, I am guilty of that pomposity occasionally, so in that aspect alone – your rant was indeed helpful.

PS – as of this moment all 3 swing trades (DX, EUR and QM have hit targets, so that is very satisfying). It tells me my ideas were correct, but conviction was lacking in some. Also, I make no claims whatsoever as to the the validity or "rightness" of my method. This could all be jargon, you decide. I know where I stand.

Can you mark your price and time of entry please I'm interested to compare where we both would have / did enter.

Cheers

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  #1028 (permalink)
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rassi View Post
Can you mark your price and time of entry please I'm interested to compare where we both would have / did enter.

Cheers

This is how we learn IMO, and apparently, I'm not the only one.

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  #1029 (permalink)
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monpere View Post
This is how we learn IMO, and apparently, I'm not the only one.

Wrong. I consider that completely incorrect.....you do not know what my risk tolerance is, whether I scale in or not and why I (or another trader would have done it).....trade management is critical (and different for each trader). Just because a million other traders think like you is no reason to think its correct, mob mentality at tits best.

Honestly....

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  #1030 (permalink)
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Deucalion View Post
Wrong. I consider that completely incorrect.....you do not know what my risk tolerance is, whether I scale in or not and why I (or another trader would have done it).....trade management is critical (and different for each trader). Just because a million other traders think like you is no reason to think its correct, mob mentality at tits best.

Honestly....

All he asked was where would your entry be, that's all. We can learn by seeing how other people do things, that's all I'm saying. Whether we agree with it, or not, follow it or not, adapt it in other ways, or not. In my trading journey, I have picked bit and pieces from the most unexpected places.


Last edited by monpere; February 16th, 2012 at 09:27 AM.
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