Well in most cases it doesn't mean anything to me either. But you should always be trading what others are trading. Since a lot of people have that on their charts, you can be sure some action will happen there. So either you get in now or you get ...

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4664 is on a lot of people's charts. So it is likely we will visit that place. I don't have weekly pivots but apparently that is what some people call the 2nd level. So... I'm expecting it to reach there somewhere today. And I'm expecting to take ...

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here we come weekly pivot 2. omg <3 this trend so much

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Actually you did open my mind a little. I can see now that trailing stops are only useful in the presence of a trend. In a confused market, its better to just set at breakeven. I will test this going forward.

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The thing about trailing stops is that it can be too tight sometimes. a 30 pip trail is easily hit. Just take EU today for example. If I had shorted, I'd probably be stopped out now with a 30 pip SL. Its that easy to get hit. Problem is... putting a ...

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You don't, either put a trailing stop or just sleep with fear that it will retrace and wipe out all your profits. I prefer method 1. Though... i wish I could perfect the art of trailing stopping. But its better than sleeping in fear

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There are always 2 scenarios at the extreme point. If it breaks out, you buy. If it doesn't you sell. This one is a breakout.

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ok ill watch 4640 - 4664. since that's what everyone is looking at.

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does anyone have any upside projections? I'm getting 4680. Can't seem to find anything in between.

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I'm going to use the proverbial "I told you so" here. I told you so! lol Don't fight price. It's the only thing we have to give us a direction in FX since we don't have any market internals. HH-HL means it will continue that way unless that trend is ...

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Wait... Im confused now... You don't need anything to short sell. You don't even need money to initiate a short sell. What am i confusing this with -_-??

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lol it amazes me that that thread is still alive.

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But there can always be more sellers than buyers? Like in the case of lehman and bearsterns

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I understand what you want to point out. That it might go down. But at the moment, all these analysis are useless because price does not agree with you right now. Technically we are still in higher high lower high mode. Until that is invalidated, it ...

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Actually clog, he has been doing quite well scalping. I told him he should reconsider being a scalper instead of a position trader lol.

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True dat, I'm refering to bid/ask as price in a loose term. And yes, we don't have true volume but we have a pseudo volume. For example, my broker defines volume as activity within the candle. So the more activity, the longer the volume bar. ...

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don't know what you mean by that. my volume bar looks pretty long to me. I'd say activity is healthy and within expectations. To be honest, VSA in forex is a little bit of bogus as there is no true volume indicator. IMO what makes forex a harder ...

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A fake! Though this only applies to markets with true volume indicators. Not in forex. Besides, if you are talking about activity, there was huge activity in the breakout 1 hour ago. Currently activity is dying off hence the slowdown in upside ...

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it seems you have more talent as a scalper than a position trader. you should reconsider your trading style.

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man.. i love carry trades so much in the future, I'm going to have a few open carry trades. The lure of free money forever...

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