haha..i was placing positions bout 8:30pm...after done placing..all pairs gone the other way..a high way...aih..better stay out tonight..

haha..i heard bernanke was going to make an announcement...but didnt expect the USD bull run to last for a whole hour...but one thing i dont understand...why is GBP on a bull run too? a smaller one ofcourse..compared to USD..

ah..correction time..

yeah..i dont trade news either. I just watch out for them...good to prevent sudden break you could still make profit through its correction time though..

hm..didnt watch tv, but usually CNBC should have it ya?

@lowyat:

what happened?

yeah...CNBC usually has those live broadcast, especially announcements like that. But dunno this time they have it or not..

hmm..better watchout for this channel...


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wah lao...i look so angry ar? hm..perhaps you're right, the channel i drew is too sloppy.. i'm still a noob who trades on demo leh..hahaha

anyway, on EU, i think it'll bounce on the 2 fanlines..it'll be rather difficult to break 14.6%...


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IMO, no need to go to those courses. Develop your trading method, and read more books... Until the day George Soros starts having courses on trading, dont really need to attend any... IMO lar..

hmm..my fib is different from yours, but here's how i see it. by 12am, if the bar closes above the 61.8, can go long up to around 206.27 before it starts consolidating upwards. If it close below the line, which is very likely to, can go short until 204.39

my little 2 cents


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hm..i believe it would be easier to go down rather than up..the 61.8 line has shown in previous price actions to be a rather strong resistant level which is rather hard to maintain, until the news lastnight ofcourse..the nearest known support is around the 50.0 line..

the formation of bullish harami of the previous 2 bars fail, unless it could close higher within the next 10 minutes..

but if you're going long on it, i hope i would be wrong anyway, trust more on your indicators

Some reports release to take note of for today:
1) French CPI - now
2) UK Trade Balance - 4:30pm

Tomorrow:
1) US Advance retail sales & Retail Sales (Less Auto)

Friday:
1) German, Italian CPI - 2:00pm, 4:00pm
2) US CPI - 8:30pm

Hm..recently the market has been in a rather confused state, where sentiments are greatly affected by news release...Friday would be interesting for EUR/USD pairs

Good Luck guys..

edit: edited time... lowyat..long time no see, how's trading le?

This post has been edited by small-jeff: Jun 11 2008, 02:56 PM

me ar...wanted to go live on a mini..now calculating on what's the minimum amount i need...lol...still worries too much..

hm..i'm going with fxcm..very easy to place position.. they only have mini...lol

anyway, on mini, i'll be going max till 10 mini lots..see how much capital i have first lar..haha..this sounds very crazy..lol..

p/s: lowyat..still in stock? try look at SCOMI.. looks good.

addon OT:
anyone got cheap 17"/19" crt to sell ar? need 2 lar..

This post has been edited by small-jeff: Jun 11 2008, 04:15 PM

Hm...IMO...SL shouldnt be a fixed number for all positions. Instead, it should be place several pips away from the nearest identified support/resistant.

hmm..fxmalay..sounds interesting..how's their spreads like?

anyway, just sharing some thoughts..i drew a few lines on GJ...the blue line is Andrew's Pitchfork..the price is going on a Running High, but for the time being, for the next few periods on 1H chart, it'll probably move down towards the lower line..with a target level around 209.00

This post has been edited by small-jeff: Jun 11 2008, 09:24 PM


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Good morn..

hm..a bad trade, i'll usually look at the subsequent candlesticks if the price had hit my entry and reverse. When it's struggling to reach higher high or lower low (depends whether i long or short), i'll close the position, after it corrects itself to the highest/lowest point possible.

hm..i'm not in live, so i dont really know how it feels like. But when i place positions, the sequence goes like this:
1) Pattern and trend
2) MAs' direction
3) Indicators direction
4) draw support/resistant level
5) identify possible entry

actually, to trade a highly volatile pair like GJ, i think it's better to scalp for smaller pips, but with bigger lots. i.e. instead of scalping for 40 pips, just scalp for 10pips (including spread), but with 4 lots. Or 4 pips with 10 lots. But ofcourse, you'll need to be 95%+ accurate if you're to scalp smaller pips with max lot

hm..maybe next time when place entry position, try putting 19 pips or 30 pips away from the nearest ranging/consolidate base/previous S&R.

addon:
210.00 on GJ is a rather strong psychological level., it's forming a pendant now, if it breaks out the support line and close below, it might go crazy bear run.

This post has been edited by small-jeff: Jun 12 2008, 09:49 AM

@billytong:
why is the EUR going bull anyway?
hm..from what i see, last night's french CPI isnt doing too well.. though YoY did come out as expected. tomorrow afternoon we'll have italian and german CPI coming out. IMO, this will set the direction of EUR through next week..

looking at the EJ overlaying EU, can see that Euro is kinda consolidating..

is ECB going to make major announcements?


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wah...cool down..cool down...dont be so dulan...

hmm? what's that about? an indicator?

hm..a little question...how to use that mt4 file? lol

@mphpopular:
i wanna try too.. but how to open in mt4?

aah? lowyat, you got use Gann also? Have you tried using the Gann vertical retracement level?