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  • #821
  • Mar 19, 2009 7:47pm Mar 19, 2009 7:47pm
Quoting Stuart14
It is a total scam. You can buy Dinars on E-Bay.
Stuart - you're still here - good - thought we had lost you. Anything else to post?
15 YEARS OF PASR ON FOREX FACTORY!
  • #822
  • Mar 19, 2009 7:49pm Mar 19, 2009 7:49pm
Lance
Please don't go anywhere else anytime soon. Guys like you and Strat (and yes even our warrior Baba G) are exactly the kind of people I want to be learning from
I am still learning and don't have any long or storied trading history to report but I am very committed !
Nicola

PS thanks for all the compilation work too!

Quoting rogueforex
As we all get to know each other, open ourselves up to Strat's "I don't give a rats ASS what you think", and create a little family here I thought I would explain a little about myself and give those who are still finding their way a little hope.
  • #823
  • Mar 19, 2009 7:54pm Mar 19, 2009 7:54pm
Quoting giusepp8
Hi strat .......
Giuseppe, thanks for your important contribution. This shows how the BOSS can be used to get more friends on to the train when it calls in the en route stations!

You hit the nail on the head, Giuseppe, the BOSS is the REAL beauty!

"flirting with the boss" - were you trying to get me to bite the bait? (I almost did!)
15 YEARS OF PASR ON FOREX FACTORY!
  • #824
  • Mar 19, 2009 7:59pm Mar 19, 2009 7:59pm
Quoting rogueforex
No problem at all, it actually helped me understand this process a lot better. I'll tell you this; there are a lot of good details in the details, if you know what I mean. You just have to be willing to think about what is really being said, and then trust what you think. I have learned a lot in the last week.

I can tell by your recent posts you have as well... I don't like to waste thread space on unqualified high fives but I was impressed with your insight on the AUD/USD earlier today. Very nice.

One last note, I made this comment to Strat...
Man, that's Righteous! (That's how the Righteous Brothers got their name!).

Lance, will you put this in bold in a prominent place on the Index please? Thank you.

Damn! Why didn't I think of that!
15 YEARS OF PASR ON FOREX FACTORY!
  • #825
  • Mar 19, 2009 8:05pm Mar 19, 2009 8:05pm
Quoting AstonDan
Very good quote, please take note anyone looking for entry signals - there's no free lunch here but all the support (no pun intended) you could need.

Baba, it looks like you had an interesting 24 hours?
So right, Morris Minor, so right!

In other words, no spoon feeding here - put in the time, work and effort with honesty and sincerity and you will get all the help you need.

Come on here looking for freebies, trouble or causing disruption and you will be told to read that best seller that says, "'GO FORTH AND MULTIPLY"'
15 YEARS OF PASR ON FOREX FACTORY!
  • #826
  • Edited 8:18pm Mar 19, 2009 8:17pm | Edited 8:18pm
Quoting Bloom
Well I had a support in on USDCAD at 12189 and todays low was 12194. I must have picked up something here. Nice to see it with my own eyes.

Seems to be good price rejection on the Boss 20 and that support with stronger volume.
A 0.004% margin of error then!

Bloom, after knowing where you've been (was it in Nicola's Darkness?), seeing you post this is worth more than any subscription I could ever ask for.

Thank you very much!
15 YEARS OF PASR ON FOREX FACTORY!
  • #827
  • Edited 9:44pm Mar 19, 2009 8:28pm | Edited 9:44pm
Quoting AstonDan
Are we seeing a hammer forming off upward support on USDCAD? Is this the bullish move Mr. O'Caster was talking about earlier this week?

1.2110 has been important so stop would need to be below that level with a Buy Stop above the blue box at around 1.5210 and would be targeting 1.3000ish.

Risk/reward not great but just throwing out an idea to all you trading warriors.

Attachment
"'stop would need to be below that level with a Buy Stop above the blue box at"'

Dan - NO!

The hammer is what is important - not your blue box. To be SAFE, with the LOWEST RISK, your buy stop should go above the high of the hammer bar. This way, if it is NOT the low, then you will not be filled (stop running excepted). If you put it anywhere within the body of the hammer, you could get filled with an IB and then if prices go lower, get dragged lower with it.

The same with your SL - it HAS to go below the low of the hammer otherwise you will get filled if prices decide to test the low before going higher.

If your account and MM cannot support so much then reduce your $/pip size
15 YEARS OF PASR ON FOREX FACTORY!
  • #828
  • Mar 19, 2009 8:31pm Mar 19, 2009 8:31pm
Quoting strat
I'm always looking at it and the USDCAD too!

So, what do YOU see?
Let me take a shot at this one and regurgitate what I see.

Yesterdays Daily bar was almost a pin bar but not really because it did not open and close inside the previous bar. The long tail almost hit weekly support i have at 2165 and the body closed between weekly and monthly support lines and near the BOSS20

In my mind, it is not clear where it will go from here. May go down again to retest the lower support or may reverse from the current support and the BOSS.

My opinion is to wait and see which way it declares and look for some real PA to enter one way or the other.

Comments?
"Money is easy to make, but hard to keep" - FWV 1975
  • #829
  • Mar 19, 2009 8:32pm Mar 19, 2009 8:32pm
Hi Strat, thanks for your wonderfull thread, it's just started but i've learned already a lot. The interaction from the price with the ma's is just unbelievable. I'm trading naked (charts) for 2 years now on the 1H frame. I'm profitable but i spend a lot of screen time. I'm looking forward to your next lessons! The thread is a bit of track at the moment (15 min and 1 h charts) but it shows only that discipline and patience is the most difficult to learn.
  • #830
  • Mar 19, 2009 8:43pm Mar 19, 2009 8:43pm
Quoting rogueforex
As we all get to know each other, open ourselves up to Strat's "I don't give a rats ASS what you think", and create a little family here I thought I would explain a little about myself and give those who are still finding their way a little hope.
I am kind of like you when you were 22, I am 19 and in university, I randomly stumbled upon a forex website a few months ago and I got hooked. Now I almost spend more time studying forex than my school work. By attending a business school for two years now I am actually being somewhat put off by the prospect of the traditional corporate lifestyle, of always living as means to an end, studying my ass of to get good grades, to get a good job, working my ass of in a job I dont like to get that promotion etc etc. The forex trader lifestyle really started to appeal to me as I can see it allowing me to live my life as I choose and in essence to be free.

Now I know that becoming a successfuly trader is a very hard task and I have to keep realistic expectaions for myself. I am trying to learn as much as I can right now so I can start making some money on the side then possibly sometime in the future to move to full time trading.

I am just grateful to have access to excellent teachers like Strat here and many others on the net.
  • #831
  • Mar 19, 2009 8:48pm Mar 19, 2009 8:48pm
Quoting AminAS
The only thing I don't like about the hammer forming on USD/CAD is the small upper wick. Last time I called a candle like that a hammer I was told to do some reading. The hammer portion, or the body part looks a little too big as well, but would still qualify as a long-shadow.

Resistance above is at 1.2520, which coincides with the 50, so I would place an entry order long past that point for one. Once past that level, next resistance to watch for would be 1.2650 area, which is fairly strong. Then look to 1.2750, 1.2900, and then the 1.3000 psycho....
This goes for all of us, not just AminAS.

I know there are other threads describing perfect shapes, locations etc., for price reversal bars, especially the hammer and shooting star but if you continue to look for perfection, you will never find it.

In your quest for perfection you will overlook what are reliable price reversal bars. Don't believe me? Look back in your Daily and Weekly charts at the end of trends and you will see them in all shapes and sizes.

So, lets not over analyse what isn't there. If it is a price reversal bar, it will stand out without you even looking for it. Yes it has to be at the end of the trend AND bouncing off support/resistance with maybe confluence of something else thrown in BUT when it looks right, you will find more often than not, that it is right and all these things are there already.

As I quickly glanced at my charts this morning, I saw lots of things including a price reversal bar on USDCAD - I didn't LOOK for it - I just saw it.

I still have not got over the fact that my quick 30 second glance at a chart is more accurate than when I do a full blown analysis.

Never, ever forget that we are dealing in Probabilities. Just because we have identified it as a price reversal bar does not mean it WILL be a price reversal bar - the market is controlled by the emotions of human beings (remember Dr. Joe?) and they sometimes do non logical things.

All we can do is protect ourselves by correct placement of trade entry and SL
15 YEARS OF PASR ON FOREX FACTORY!
  • #832
  • Mar 19, 2009 8:54pm Mar 19, 2009 8:54pm
Quoting AstonDan
Yup its certainly not ideal and it would have to close up another 40/50 pips for it to qualify.

Can't see the significance of 1.2520 though, except the 50SMA, which is much less important than the 20.

By the way AminAS, my 20's are blue and 50s are red (just to be confusing!)

Cheers
Dan
Morris Minor - you are the odd ball!

The 20 is ALWAYS RED

The 50 is ALWAYS BLUE

Any chance you can come in line with the rest of us?
15 YEARS OF PASR ON FOREX FACTORY!
  • #833
  • Mar 19, 2009 8:56pm Mar 19, 2009 8:56pm
Quoting AstonDan
Only one resistance line on this chart but you can see the FIB lines do a pretty good job of mapping the others.

Strong support off the 38 level although downward pressure seems quite strong and 61 seems to have attracted price for a few months.

Trade idea? Long - stop around 1.1085, target 1.1600.

Attachment
Dan - what price bars do you see telling you to go long?
15 YEARS OF PASR ON FOREX FACTORY!
  • #834
  • Mar 19, 2009 8:58pm Mar 19, 2009 8:58pm
Quoting AstonDan
Strong PPZ around 93.30 which also meets the 50 Fib (confluence).

I like the look of an 'elastic band' long back up to 97.

Attachment

Or maybe a short, but this 93 area is important
Dan - same as your USDCHF - what price bar do you see telling you to go long?

Have you ever been on a LONG train journey, Morris Minor?
15 YEARS OF PASR ON FOREX FACTORY!
  • #835
  • Mar 19, 2009 9:02pm Mar 19, 2009 9:02pm
Weekly: There have been two previous tests of 141.70 in this current weekly uptrend, and the last candle formed a hammer on the 136.50 support area, as well as the 61.8% fib. A third test of 141.70 seems likely.

Daily: Price has made large bearish surges that were unable to hold, showing up as huge lower wicks on the previous two candles. The low of the lowest wick was 134.80, which corresponds almost exactly with the 38.2% fib and the BOSS 20. The last bar to close was an inside bar, with a fairly long lower wick as well. Neither candle was able to close below the 61.8% fib or 136.10 support, meaning price was pushed below these levels but found no sellers to sustain the move. Resistance to the upside can be found first at 138.00, and then at the 140.00 psycho. This would include the 20 as well. Price is back in between the 20 and 50, which is saying "indecision", in bold lettering. Gap between 20 and 50 has found its apex as is now getting smaller.

http://img21.imageshack.us/img21/9991/gbpjpyv.gif

So what's the next move? What is PA and S/R telling us about G/J's intentions?
Bang.
  • #836
  • Mar 19, 2009 9:02pm Mar 19, 2009 9:02pm
Quoting Grimweasel
Hi Guys - I have seen threads descend into chaos over the true definition of a hammer and I think people get too finickity over it - you will know when you see a hammer/shooting star because it will stand out like a fox in a chicken shed - you will know because it will be on one of your significant pre-set SR levels. The key is to wait for PA to come into your levels AND then see what the candle tells you.

I went long usdcad off the 1hr hammer this PM - so far up quite a few pips.

It's all about where it forms and how you interpret that info...
So, you're the other guy with the balls that Baba G keeps looking for!

I wouldn't be bragging on here OR ANYWHERE that I had gone long from a H1 hammer - I would be PETRIFIED!

By the way - didn't you just send me a post saying NO MORE SHORT TFs for you?
15 YEARS OF PASR ON FOREX FACTORY!
  • #837
  • Mar 19, 2009 9:05pm Mar 19, 2009 9:05pm
Quoting geoffrod
Well i just exited my demo trade on this as the chart i used to take the trade signaled a hammer that closed above the level i mentioned before.
I happy to have seen a trade and taken it, and also to have exited with what i see as a price action sign eg candle formation at support level.

cheers
Geoff
And you did all this with NOTHING but PRICE ACTION - right?
15 YEARS OF PASR ON FOREX FACTORY!
  • #838
  • Mar 19, 2009 9:07pm Mar 19, 2009 9:07pm
Quoting Naws
I am kind of like you when you were 22, I am 19 and in university, I randomly stumbled upon a forex website a few months ago and I got hooked. Now I almost spend more time studying forex than my school work. By attending a business school for two years now I am actually being somewhat put off by the prospect of the traditional corporate lifestyle, of always living as means to an end, studying my ass of to get good grades, to get a good job, working my ass of in a job I don't like to get that promotion etc etc. The forex trader lifestyle really started...
The biggest issue I still deal with is impatience; impatience to take the trade, impatience to make a million dollars, impatience to know it all. I want to give you this advice, relax, have faith in the process. I found an inner peace when I realized all I had to do to get what I wanted was to keep doing what I was doing. It will come. View this as school, understand you can't walk into an AP class and understand it all. They start you with the basics for a reason, because your brain learns thru constant exposure, not an epiphany moment. The one caveat is determination, no one can give it to you but it is the one thing you must have to perservere...

PS: I have a thing I read every morning and part of it says, "I will be thankful I saw the path at 35 instead of discouraged I didn't see it at 25." If you stick with this you will never have to say that.
  • #839
  • Mar 19, 2009 9:11pm Mar 19, 2009 9:11pm
In addition to Amin's analysis I would like to point out an inverted head and shoulders pattern on the weekly
It gives more confirmation for a move long on the break of the neckline

Attached Image (click to enlarge)
Click to Enlarge Name: gpbjpy weekly.gif Size: 15 KB
  • #840
  • Mar 19, 2009 9:13pm Mar 19, 2009 9:13pm
Quoting elitejets
US Crude (April and May contracts) and Brent crude have all settled above the very significant $50 level....
I still don't understand why a good looking blonde with brains wants to be messing in the dark with black, slimey, smelling stuff!

But, she is good!
15 YEARS OF PASR ON FOREX FACTORY!
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