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Venice Feb 16, 2011 12:56pm | Post# 388601

3520 is next up on my list. Lost our volume though. 3580 again above.

Short at 35562. May set some stops and targets and go take a nap.

kill56 Feb 16, 2011 12:56pm | Post# 388602

sh eur
 
The trend in the Middle East is Protest and throw the bums out of office.

Latest is Libya. Khaddafi might be a hard one to topple.
man its all over yamen bahrein jordan libya

FibbinArchie Feb 16, 2011 12:57pm | Post# 388603

really?
Depends on which TF you're viewing surely??

FibbinArchie Feb 16, 2011 1:13pm | Post# 388604

we may have found a bit of interim support here off the 38.2, not too much of a reaction so far mind...

mercy seat Feb 16, 2011 1:14pm | Post# 388605

Of course ... day is not at its end ...
 
At the top today I thought about a truncated 5th.

It wasn't one.

The corrective up move ended at 3570. I was expecting a 5 wave impulse move up and saw only two impulses.

It was a big mistake. The move that we saw finally was an ABC - impulse - correction - impulse

Since all the moves in the whole corrective moves since the low at 3428 followed this pattern it was a mistake to wait for a 5-3-5-3-5 pattern.

The move down today is on some TF's hard to count as an impulse. On 1h chart especially the middle part looks suspect and leads to a conclusion,...
No no no ... the major move has been clearly to the upside ... roughly 1.3589 has been highest until now ... and 1.3463 has been lowest ...

We never came even mildly towards below 1.3449 zone ... which would have been a minimum downside retrace target (daily pivotal Sup 1) ...

And moreover in order to keep it clear and simple ... the daily graph ... no matter if you like it in BARS or CANDLES ... will print with a higher high and a higher low ...

Of course ... day is not at its end ...



;-|

FibbinArchie Feb 16, 2011 1:19pm | Post# 388606

we may have found a bit of interim support here off the 38.2, not too much of a reaction so far mind...
supply zone and mini mofu @66

joloco Feb 16, 2011 1:25pm | Post# 388607

That spike sure was great to blow up some accounts.

Gleneagles Feb 16, 2011 1:26pm | Post# 388608

Compounding
 
+78 ( 6 X 12) +6

+14.04%

mtd 786
+100.6%

Compounding factor 1.8 used today

Just a brief explanation about how I use compounding and what compounding factor means.

I trade two "speculation accounts " as well as " investment accounts"
Speculation accounts are reset every month and trade size is = 100k/$10000
or 1 minilot / $1000 capital.
Example:

Account $10000 trades 10 minilots or 1 lot
Account balance $12000 trades 12 minilots (compounding factor 1.2)
Account balance $16000 trades 16 minilots (compounding factor 1.6)
Account balance $18000 trades 18 minilots (compounding factor 1.8)

etc etc

At month end I take out a " salary " from the "speculation accounts" and transfer the balance to the "investment accounts"
The "speculation accounts" will start the new month with original balance.

The "investment accounts " are traded at a rate of 10 minilots/$20000 capital and compounded accordingly.

I trust it makes sense to you.

PayTheLimit Feb 16, 2011 1:26pm | Post# 388609

supply zone and mini mofu @66
I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it

infinitus Feb 16, 2011 1:28pm | Post# 388610

No no no ... the major move has been clearly to the upside ... roughly 1.3589 has been highest until now ... and [color=Green]1.3463 [color=Black]has been lowest ...

We never came even mildly towards below 1.3449 zone ... which would have been a minimum downside retrace target (daily pivotal Sup 1) ...

And moreover in order to keep it clear and simple ... the daily graph ... no matter if you like it in BARS or CANDLES ... will print with a higher high and a higher low ...

Of course...


Hi Mercy,

yeah, at todays low with the start of the strong rejection I knew, that I was wrong in my asumption.

Is kind of the old German saying "Man soll den Tag nicht vor dem Abend loben".

When price shoot finally up I had my "WTF" moment LOL

Surprise, surprise.....

fontu Feb 16, 2011 1:28pm | Post# 388611

1 Attachment(s)
Bull at top with likely consolidation breaking 200ma in h1 tf , min abc up or impulse 3 4 5 next after it success bull here , above 3597.previous chanel ( may need draw fresh ) may not work as already disresected breaking down .
fontu
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FibbinArchie Feb 16, 2011 1:29pm | Post# 388612

I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it
hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...

FibbinArchie Feb 16, 2011 1:30pm | Post# 388613

Just a brief explanation about how I use compounding and what compounding factor means.

I trade two "speculation accounts " as well as...
seems like a good set up, do you not speculate on stocks with the investment acct?

PayTheLimit Feb 16, 2011 1:30pm | Post# 388614

I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it
by a pip on that last 5min close...

FibbinArchie Feb 16, 2011 1:32pm | Post# 388615

hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...
of course I could be wwwrong, needs to hold above, wicks don't count and signify rejection if anything...

PayTheLimit Feb 16, 2011 1:37pm | Post# 388616

hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...
yea, risky...still think a good close above it opens a leg up, that said below it 3503/16 is still close enough the way we been moving today...

AllyB Feb 16, 2011 1:38pm | Post# 388617


I trust it makes sense to you.
Yes it does and thanks ... will have to admit on taking off some of the zeros.

Cheers

PayTheLimit Feb 16, 2011 1:41pm | Post# 388618

by a pip on that last 5min close...
and again...lol

FibbinArchie Feb 16, 2011 1:41pm | Post# 388619

1 Attachment(s)
yea, risky...still think a good close above it opens a leg up, that said below it 3503/16 is still close enough the way we been moving today...
yeah we could well see more of this chop...

I'll be looking for a possible position short off the falling TL if we go higher...
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DBallerz Feb 16, 2011 1:42pm | Post# 388620

how high are we going to get? 1.6?


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