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  • #11,541
  • Jul 14, 2014 9:58am Jul 14, 2014 9:58am
Quoting weti
i think its best to stay out now rather than going long. When taking longs use precaution and proper risk management. This may travel much further down.
I hope to have a clear view by Friday about its direction.
Hello World!
  • #11,542
  • Jul 14, 2014 10:03am Jul 14, 2014 10:03am
still short..targetting 1300.00
  • #11,543
  • Jul 14, 2014 10:04am Jul 14, 2014 10:04am
Quoting Dafonz
ZeroHedge is reporting that todays dump involves sums of $1.3 Billion in futures. http://www.zerohedge.com/news/2014-0...-most-2-months {image}
Quoting Spec_And
{quote} Yes about 15k contracts dumped in 3 minutes.
I presume you fellas are relying on the inputs from brokers.

What if these contracts were sold (short) after they got info that 10 times of this weight was long?

Lets say, I'm an insider with inputs that sh!tloads of contracts are long long long long and long and the price is going to fall real bad, I sell hard, I short, I sell 15K contracts so that I can benefit from the fall.

This is how I believe it works.
Hello World!
  • #11,544
  • Jul 14, 2014 10:05am Jul 14, 2014 10:05am
but it seems there is huge buy limit at 1303.xx area
  • #11,545
  • Jul 14, 2014 10:29am Jul 14, 2014 10:29am
Incredible how there was a false break above 1331 to 1345 and then it finally relentlessly sells off on a non event like today… these markets were made to crush everyone.

I was pretty bearish at 1330, but this move, though it might sound odd, seems bullish to me.
  • #11,546
  • Jul 14, 2014 10:36am Jul 14, 2014 10:36am
Quoting Ck87
Incredible how there was a false break above 1331 to 1345 and then it finally relentlessly sells off on a non event like today… these markets were made to crush everyone. I was pretty bearish at 1330, but this move, though it might sound odd, seems bullish to me.

Totally! I was dumbfounded by that leg up from 1330... didn't fit in the ew moves...but as long as one is aware of important levels... money can be made and "saved" if you put appropriate stop losses...

I would expect the same when the market decides to move up again...

GL~!
  • #11,547
  • Jul 14, 2014 11:31am Jul 14, 2014 11:31am
On my chart, it is trying to break 61.8% Fib, if so then we are heading for 1294 - 1295, else we are back to 1320 - 1322 for couple of ranging days till it decides.
Still do your own analysis.
Attached Image (click to enlarge)
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  • #11,548
  • Jul 14, 2014 12:07pm Jul 14, 2014 12:07pm
really incredible
  • #11,549
  • Jul 14, 2014 12:44pm Jul 14, 2014 12:44pm
tbh it doesn't matter if we lost or won some pips in today's rally. The important part is the correction is finally here whether it will reverse from 1305 or lower but finally we have the correction.

We need to observe where the bottom is to add longs correctly.. ain't it?
  • #11,550
  • Jul 14, 2014 12:49pm Jul 14, 2014 12:49pm
Quoting ShadyAhmed
tbh it doesn't matter if we lost or won some pips in today's rally. The important part is the correction is finally here whether it will reverse from 1305 or lower but finally we have the correction. We need to observe where the bottom is to add longs correctly.. ain't it?
which correction, every move is correction... now is issue, if it go up from here or not...
  • #11,551
  • Jul 14, 2014 2:23pm Jul 14, 2014 2:23pm
Quoting ClockTrader
{quote} {quote} I presume you fellas are relying on the inputs from brokers. What if these contracts were sold (short) after they got info that 10 times of this weight was long? Lets say, I'm an insider with inputs that sh!tloads of contracts are long long long long and long and the price is going to fall real bad, I sell hard, I short, I sell 15K contracts so that I can benefit from the fall. This is how I believe it works.
Yes of course it could have been new short contracts, or it could have been old longs squaring their positions, either way somebody sold a massive number of contracts in a very short span of time, triggering stop loss orders in the process.
"Where you want to be is always in control, never wishing, always trading.
  • #11,552
  • Jul 14, 2014 2:38pm Jul 14, 2014 2:38pm
Quoting ClockTrader
Lets say, I'm an insider with inputs that sh!tloads of contracts are long long long long and long and the price is going to fall real bad, I sell hard, I short, I sell 15K contracts so that I can benefit from the fall. This is how I believe it works.
Finally !
  • #11,553
  • Jul 14, 2014 2:52pm Jul 14, 2014 2:52pm
Quoting waleed.khan
{quote} Welcome back from your break Mitch... ( you missed the move up ehh?) Holding the same view... expect would look to short at a break of 1300 and tp 1280... Even though long now to 1328 is also a good trade.. but should only be taken with a strict sl under 1300 and with appropriate risk! Cheers!
hey! yeah missed the run up last week, wasn't expecting that. . nor wad I 3 forcing yesterday's move to be so big. I guess the market will always to the unexpected. In saying that I mentioned yesterday sellers would be eager to step 8 as we have 6 weeks straight of green. that's the longest rally in some time and a sell off was far more likely than a further rallying just sitting out for now.Mitch
  • #11,554
  • Jul 14, 2014 2:58pm Jul 14, 2014 2:58pm
Im just glad i left xag after the spike up because it was way to indecesive and the price had escalated way too quickly due to portugal events and since i'm from here i knew it would be resolved today but was afraid to short.
I'm actually happy with the movement though i'll be daytrading downwards untill we reach 1280ish where i'll buy silver for jully.
  • #11,555
  • Jul 14, 2014 4:14pm Jul 14, 2014 4:14pm
Quoting Mitchoss
{quote} hey! yeah missed the run up last week, wasn't expecting that. . nor wad I 3 forcing yesterday's move to be so big. I guess the market will always to the unexpected. In saying that I mentioned yesterday sellers would be eager to step 8 as we have 6 weeks straight of green. that's the longest rally in some time and a sell off was far more likely than a further rallying just sitting out for now.Mitch

Thats very true... ( I had been wanting it to go down from 1330... but it just shot up higher)

Indeed 6 weeks of rallying and one day just took out a months worth of gains... It will/would take a lot for price to stay above 1300.
  • #11,556
  • Jul 14, 2014 4:21pm Jul 14, 2014 4:21pm
Quoting ShadyAhmed
tbh it doesn't matter if we lost or won some pips in today's rally. The important part is the correction is finally here whether it will reverse from 1305 or lower but finally we have the correction. We need to observe where the bottom is to add longs correctly.. ain't it?

That's a fair comment
  • #11,557
  • Jul 14, 2014 4:43pm Jul 14, 2014 4:43pm
Quoting ClockTrader
This is what I got PS: Not a good day for my portfolio after all. {image} {image}
I admire you sharing your trades with the group. Especially after a bad day.

You got this
  • #11,558
  • Jul 14, 2014 4:55pm Jul 14, 2014 4:55pm
Quoting Mitchoss
{quote} I admire you sharing your trades with the group. Especially after a bad day. You got this
Yes. It is wonderful. Mitchoss, your trendline illustration is helpful and looks like an accurate picture of the situation, some hours back. Thank you. Yours was more helpful to me than the illustration in this article, but the illustration in here still is good:
http://www.fxstreet.com/analysis/ind...2014/07/14/06/
  • #11,559
  • Jul 14, 2014 5:08pm Jul 14, 2014 5:08pm
Attached Image (click to enlarge)
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already long 1292 could be a buy area to target 1339--1400 ??? thats on for the books
  • #11,560
  • Jul 14, 2014 5:23pm Jul 14, 2014 5:23pm
Quoting Greenstar
{quote} Yes. It is wonderful. Mitchoss, your trendline illustration is helpful and looks like an accurate picture of the situation, some hours back. Thank you. Yours was more helpful to me than the illustration in this article, but the illustration in here still is good: http://www.fxstreet.com/analysis/ind...2014/07/14/06/
I'll continue to post the trend channels I follow if people are interested, along with snaps of my indicators. They are nothing special though..

I AM NOT A SCALPER, THESE INDICATORS WILL NOT HELP YOU SCALP ON ANYTHING LESS THAN 1HR

MACD(12,26,9) - I use strictly as a momentum indicator. Above 0 = upside momentum, vise versa (typically only use it on >1hr timeframes)
RSI(14) - I buy at <25 and sell >75 - NEVER BEFORE - PATIENCE IS KEY AS ENTERING EARLY YOU MAY BUY/SELL INTO A BREAKOUT
Stoch(14,3,5) - I buy at <25 and sell >75 - NEVER BEFORE - PATIENCE IS KEY AS ENTERING EARLY YOU MAY BUY/SELL INTO A BREAKOUT
Ichimoku Hinko Hyo(9,26,52) --- I recommend this indicator for anyone who is a S/R trader like myself. NOT recommended for anything under 1hr timeframes, but in the longer scheme it gives fantastic accuracy on 4hr/daily.

PM me if you have questions rather than spamming the forum

Mitch
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