Notch, you probably misread a portion of my earlier post. I am not saying it won't go up (or down). I am of the opinion that if it crosses 1.4000 it will be either in a momentum or for going further higher. But these are just my views. As I ...

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Yes. The bigger question I don't have an answer is up to what level? Since no one knows the answer, the answer will be available from 1) round numbers, 2) previous levels, 3) buyer/seller equilibrium - a new consolidation/price level. I am focussing ...

EURUSD

If someone tell us Oil is going to go very high? You would think of the price either in terms of 1) round numbers 2) previous levels or 3) Benchmarks Price would tend to move from one level to another because buyers and seller have these prices as ...

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This is the point I am trying to make.

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4xRaider, It is a very old rule. If it crosses a psycho level, it becomes an express train, difficult to stop. See how it corssed 1.3500 up this week and where we are now. It should stop below 1.4000 max. If not, throw technicals out of window and ...

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No, I would rather add to it if it crosses 1.4000 up. But after watching were it stalls and how. I will go long once again only after a decent retrace.

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Why would I be short then? But expecting a spike up before it goes down.

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Technically = Yes Fundamentally = Don't know. Will cost 100 pips if technically wrong. SL at 1.4010

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Shamu, Just a food for thought. Around August 7 and 8, 2008, pa crossed a critical psycho level of 1.5000 down. On Daily chart it never was able to cross it back up again. This is very rare. The current down trend picked mementum after that. This ...

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Do you happen to have a picture of a bear licking his wounds at 1.3900 but planning to get some help and attack back from around 1.4000?

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Please don't remind me my feelings of last night.

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Drizzt, my friend. I am no expert in making profits, however, posses much experience how to incurr loss. That experience helped me overcome this issue. I am now overall consistently profitable for last several months. These are my suggestions based ...

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Gator, I will take 50% off the table at this level. My daily chart reading never deceived me, nine out of ten times. This time I didn't follow in a bid to spot trend direction on 1H chart. I was off focus. But now, looking at daily chart more ...

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Thanks Shamu, Up trend is very very visible. I failed in combining two approaches 1) Going with the trend, 2) Going against it. Intended to combine my usual game of playing retraces with following the trend approach. This up move was a bit stronger ...

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I will follow your advice and take my profits off the table as soon as possible. I am in for a pre-determined loss figure. This time is way too high than my normal i.e. last week's profits plus 2.5%. But this is a major move and worth taking a ...

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It was a gut feeling that something was cooking. Like Psi mentioned in his post. PA was delayed for more than 12 hours on it way up. This is again delayed for equal number of hours. But it should fall. If not because of any other reason, based on ...

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Thanks Vinesh. I am doing exactly what you advise. I am going to stick to my position until it crosses 1.4000. All my calculations say it should retrace near to 1.3750.

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Yes, Gator, It now looks like a game of nerves. Jay is away, so I cannot order balls of steel. I am break-even for the month now. Lost all of what made in the last week. I think my current position is right, just needs a little bit of sitting ...

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Yes. I have my tps just above 2 pips above 1.3838. That would be logical. I cannot turn the market in my fovor, neither can fight with it. But can try to go right from this poin onward. Mistakes are history now, and no one can change the history, so ...

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I closed half of my long at 1.3812 and another half at 1.3823 or so. Then went for a retrace at 1.3832. This is where I made the first mistake. The second mistake was to top up my short to a full position at 1.3880. Third mistake which I just ...

EURUSD