Trade like George Costanza!

[MrGecko]

Watch the video, it's pretty self explanatory...

http://www.youtube.com/watch?v=cKUv...713578F9B&playnext=1&playnext_from=PL&index=9

EUR/USD Daily, we have a bear flag and a 100/200 "Golden Cross" - let's wait for a run on stops below 1.34 (new lows), then BUY it. I'll add in the entry/stop details when it happens.

Feel free to jump in.

 

[MrGecko]

STOP MKT Long EUR/USD (M0 globex) @ 1.3370 - pull if we print new lows
STOP 1.3290

 

[Lord Flasheart]

watching

 

[leovirgo]

subscribed. will join you when I have my set up.

add in: 100x200 crossing is a bearish one - 100 below 200. is it the basis for your long set up?

 

[MrGecko]

FILLED - BOT 6EM0 1.3370 STOP 1.3290

Leo, you've got the idea - find a "regular" or "classic" TA setup and take the opposite position, but manage it as you would normally.

 

[N Rothschild]

" We have seen a rush of stops triggered with the push under 1.3400 and the price action would suggest that some more strikes came into play at 1.3350 . The better European data activity has again been swamped by renewed fears for the European periphery , with Fitch's downgrade of Portugal particularly weighing on sentiment . The probable close today below 1.3430 should herald a fresh leg of weakness following 7 weeks of 1.3430/1.3840 action . Whilst positioning was light 24 hours ago we have seen it build sharply in the past few hours but this does not feel like a crowded trade . We are playing this from the short side and would look upon a rally back to 1.3420 as a selling opportunity. Stop can be placed above 1.3500 . Its hard to know how far this move can extend but a target of 1.3100 mentioned by John Noyce does not seem unreasonable." goldman sachs trading desk...

pretty good reason to go long! there last euro call just got stopped out and did an instant turn around on their posistion

 

[N Rothschild]

isnt the golden cross 50 through 200?

 

[temporarilylight]

wonder what the anti TA guys will make of this! lol
p.s - you read elitetrader forum, Gecko?? i saw this clip there this morning.

 

[Waterfield]

http://www.investopedia.com/terms/g/goldencross.asp

Don't think it matters.

 

[N Rothschild]

STOP MKT Long EUR/USD

this order wouldn't work on globex ?

 

[N Rothschild]

sorry being retarded didnt realise the market was below your order..

 

[Lord Flasheart]

This sounds like a millenium bug story to me.
However if I get in a good long I might be tempted to leave it longer over the next few days

 

[MrGecko]

eek, just taken out a bunch of stops @ 1.33

EDIT: Well, the 10 tick cushion we had wasn't enough, we're out.

TA 1 George 0

EDIT # 2: Looks like the same thing happened around this time y'day too...