Check out this snapshot from my live trading acct. Red dots represent my shorts. Trendlines point to the most probable TP, shown by the Green blob, in the 1.2500 vicinity (my average price is 1.2534). Where would you guys recommend to take profit on this trade? Suggestion: Count the places where the lines intersect. Do ya see the pending DROP? A lot of downward pressure is coming. fx 1.2700 <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1139943>
Nice call Drawdown on holding on and doubling down on that euro short! Drawdown? You still there? You didn't flip and go long again did you? Hello?
Why are you putting red dots on when oanda platform will show the positions? And your trendlines are... unique.
He puts red dots there so you cannot see his real positions, apparently. At any rate, as I understand it, he's no longer "with" us thankfully. Let's get back to the EUR. I hopped a flight with the little woman to St. Croix on Sunday night, came back yesterday evening (only a 40min flight) and was distressed to see absolutely no movement in any pair except AUD/USD. A good EUR/USD strat for the intraday might be to sell into failures of the 10day MA at 1.2605. Long term technicals favor bearish, but I don't think that's the way it's going to shake out. I have been out of the "office" for a few days now and do not have the pulse of the market I need to feel comfortable making trades. So I'll sit out until I do. Incidently, here's a shot of the island as we flew over in our Cessna...
haha not sure what's funnier. He resorts to putting red dots over positions or the fact he doesn't know how to turn it off. nice pic.. that water sure is perrrty
I've shorted here at what is appearing to be heavy resistance: 1.2762. TP is at 1.2690, and a stop is up around 1.2860.
gosh Ivan ... you sure use wide stops ! there is some spoofing or perhaps just plain huge size "for real " ??? in the sept Eur-fx futures on the bid side in early asian trading ... 1000-2000 plus bids below the top levels goes away ... then comes back ... sure spooked me ... lost a couple of pips or ticks ... I do not need to play "their game" going back to my gold and silver trading now
I'm not sure you can use the Oanda CoT report to be an indication of the market CoT report, but it does make for interesting data. Entertaining, too. I use wide stops when I think volatility and emotional behavior is in season like it is with EUR. I still think, perhaps wrongly, that we'll see 1.26 before we see 1.30.