In the context of H+S comments w/Killer you wrote: but that it was "too late" and since break of neckline is the entry signal, that would imply that you saw 2 entry points and the break of a neckline. If you agree that we have a H+S patt and that ...

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Too late for longs? Really? — I trade shorter TF's so I don't pay too much attention to H+S ... and maybe that's why I'm confused. I just reviewed several textbook explanations of H+S patterns and now I really am confused I'm probably making ...

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I agree it's inverted... but it looks slanted, suggesting neckline won't be reached till around 2437 - not sure what that says about direction tho

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Are you talking about the neckline of a H+S from Jul 6th?

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oh no...! image

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Ah...good ol EU's sittin there @ 1.2386 (OANDA) with the engine runnin and the door open for shorts always room for one more!

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Before 3PM EST Sunday, "more than you would expect" would be what Oanda calls "indicative" rates (but not this weekend). As of last month, Oanda is now effectively closed (like most other brokers) from 4PM EST Friday thru 3PM EST Sunday. There is a ...

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Not a trick? Okay, call it a process I'm outta here

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I honestly don't know whether it's a conspiracy or something that develops through natural process... it keeps popping up though #7 doesn't always happen, but it does a lot. whole thing makes ya wonder about Elliot waves

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to clarify... — image to be a little more specific, the trick is: 1. make you think you see a top (no bad news - it's gotta turn around!) 2. get you to go short 3. drive the price above what you thought was a top (most recent yellow line) 4. ...

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[quote=Vachus;5902339] more useful to focus on loss than greed - greed may make you take trades you shouldn't take, BUT unwillingness to take small loss is what makes you lose big (whether trade is taken on greed or not!)

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I'm no expert on the subject, but the idea of a trap is to take advantage of imprudent moves (mostly by traders who won't take a small loss).. you get a group of traders to position in one direction and then drive the price in the other. Exactly how ...

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Bear trap is full now. Price move to 2450-2500 range on Monday should skin quite a few of them. image

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...a truly clever remark; and, very true.

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That oughtta put a faint smile on the face of whoever is hunting short position stops today. PS: love the goat.

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You are very wise to fade with caution. You're not paranoid - they really ARE out to get you!!

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At least you won't lose as much money as you would have if you'd gone short at 2300! But seriously: I would buy back on the first dip. Toooooo many shorts (who's pockets haven't been emptied yet) for price to go down very far.

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I think you have the right idea. There is no compelling news at the moment - just a kind of vacuousness. Just right to lull a bunch of traders without a better idea into going short, and staying that way till they get stopped or margined. And ...

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It sounds perverse enough to be true! But, I think someone's making way too much money to turn around today. besides - probably not enough long positions around to take out. They all went short! ========================= PS: tread installation at ...

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The next bear-trapping tread being installed at 2370 If you haven't had an opportunity to lose any money yet today, this would be a good time to go short!

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