EUR.USD

**slam** · 21-10-2005, 03:59 PM

Back in for another run at 2100

Slam

**peat** · 24-10-2005, 09:40 AM

thankfully i got me another short at 1.2037 and slept on it.... +83

**Xerof** · 26-10-2005, 01:40 PM

Tandem butterflies in play?

Peat, I'm not going to get into a debate about service providers, but yesterday it was indicated that it was a wait and see day, as it hadn't got on with the job of retesting lows. I read it as that anyway, and acted accordingly on cable, when the retested support clearly held. Pity was, I didn't follow the 'sharetrader A(rco) team' advice, and turn long, I simply squared up.

Easy in hindsight, but I think you need to be willing to take some money off the table when its there for the taking, and at the very minimum, have a stop loss in place to protect some profits, or at worst breakeven.

I'm thinking Arco is tongue in cheek when he says to use it as a reverse indicator - Max is more often right than wrong, in my experience. (but no mistake, he can be wrong)

Anyway, seems it may not be right for you, so maybe stick with the ideas put up on this forum

BTW, yesterday in GBP: Arco 1, Martin 0[}

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Xerof

**Xerof** · 26-10-2005, 02:21 PM

Small long at 12094, s/l 12044

Xerof

**peat** · 26-10-2005, 02:48 PM

quote:Peat, I'm not going to get into a debate about service providers, but yesterday it was indicated that it was a wait and see day, as it hadn't got on with the job of retesting lows.
Anyway, seems it may not be right for you, so maybe stick with the ideas put up on this forum

Yeh Martin was capping Eur at 1.2047 as well which kind of influenced me to hold my shorts as this was a do-able level in terms of equity. But the 1.21 thing has put me on the knife edge.
Yes I do agree that I should have taken some profits when they were there. Thats the very reason I took the second short, so that I had something to work with without being out of the game.

**peat** · 26-10-2005, 04:23 PM

does the fact we have no pullback after the climb indicate its more likely to continue the climb?

**Xerof** · 26-10-2005, 05:57 PM

Think Asia don't know what to do with it Peat.

But a glimmer of hope - have a look at the 2 hourly, and spot the inverse H&S thats developed over last few days. Usually there is a return to the neckline before it takes off, so perhaps we see 12025/50 area again. No promises though...

Xerof