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CHART Reading for serious traders

  • #61
  • Oct 24, 2007 9:41am Oct 24, 2007 9:41am
Quoting imransait
pipchick...is my dow chart correct...maybe the fibs are reversed..
I fibbed from the hi on 10/11 to the lo on 10/22. i think you may be reversed.
  • #62
  • Oct 24, 2007 10:08am Oct 24, 2007 10:08am
Quoting PipChick
Dow managed to bounce off its 23.6 fibo. maybe that will help maintain the g/j rt shoulder.
That dow is teetering on the 4 hr 200 ema.
  • #63
  • Oct 24, 2007 10:43am Oct 24, 2007 10:43am
Quoting PipChick
That dow is teetering on the 4 hr 200 ema.
Looks like the downward h/s played out so lets see if it can now resume long after the bad data. Depends what the dow wants to do.
  • #64
  • Oct 24, 2007 10:47am Oct 24, 2007 10:47am
Quoting PipChick
That dow is teetering on the 4 hr 200 ema.
a long here with a tight stop?
  • #65
  • Oct 24, 2007 10:48am Oct 24, 2007 10:48am
I expect price to go up from here until 236.67
Trade what you see, not what you think.
  • #66
  • Oct 24, 2007 10:49am Oct 24, 2007 10:49am
Quoting karmostaji
I expect price to go up from here until 236.67
My thoughts exactly Karm. Thank you for the confirm! Always a pleasure.
  • #67
  • Oct 24, 2007 10:55am Oct 24, 2007 10:55am
Quoting PipChick
My thoughts exactly Karm. Thank you for the confirm! Always a pleasure.
Thats a wicked little tail on that 1 hr candle
  • #68
  • Oct 24, 2007 10:57am Oct 24, 2007 10:57am
Quoting PipChick
Thats a wicked little tail on that 1 hr candle
Lets see if we can have the same scenario as 9 candles back.
  • #69
  • Oct 24, 2007 11:18am Oct 24, 2007 11:18am
Hi PipChick,

Congrats on your new own thread, I will be checking in here every now and then and learn the profitable strategy from you, girl
Talk to you later, need to back to work first
  • #70
  • Oct 24, 2007 11:20am Oct 24, 2007 11:20am
Quoting mktjong
Hi PipChick,

Congrats on your new own thread, I will be checking in here every now and then and learn the profitable strategy from you, girl
Talk to you later, need to back to work first
Welcome MKT and Thank you!
  • #71
  • Oct 24, 2007 12:24pm Oct 24, 2007 12:24pm
GJ has been ranging between 233.30 and 233.65 for 2 hours, i.e. 35 pips .... boring...

By the way pipchick... good thread, thanks for being keen on helping newbies... will be always checking this place...
  • #72
  • Oct 24, 2007 12:30pm Oct 24, 2007 12:30pm
Quoting mamr
GJ has been ranging between 233.30 and 233.65 for 2 hours, i.e. 35 pips .... boring...

By the way pipchick... good thread, thanks for being keen on helping newbies... will be always checking this place...
My pleasure mamr. Hopefully the traders will help keep it going by giving their inputs on any pair also. None of us are perfect and any analysis is worth taking a keen look at. We can only do what the charts tell us but we cannot determine what the market decides to do so never be afraid to post your analysis.
  • #73
  • Oct 24, 2007 12:31pm Oct 24, 2007 12:31pm
This is when 'patience' really kicks in and tests your tolerance
Trade what you see, not what you think.
  • #74
  • Oct 24, 2007 12:34pm Oct 24, 2007 12:34pm
Quoting karmostaji
This is when 'patience' really kicks in and tests your tolerance
Thats for sure Karm! I think once we make it above 233.70 the longs will start to take form.
  • #75
  • Oct 24, 2007 12:48pm Oct 24, 2007 12:48pm
I am looking at the 1 hr and it is apparent that the downward h/s played out at the release of the news. The larger picture inverse appears to have formed its "new" right shoulder around the 50% fib. Karm loves the 50%.So my thoughts are that the uptrend may resume for a final target that Karm mentioned of 236.67 area as long as the dow cooporates.
  • #76
  • Oct 24, 2007 12:50pm Oct 24, 2007 12:50pm
Quoting PipChick
I am looking at the 1 hr and it is apparent that the downward h/s played out at the release of the news. The larger picture inverse appears to have formed its "new" right shoulder around the 50% fib. Karm loves the 50%.So my thoughts are that the uptrend may resume for a final target that Karm mentioned of 236.67 area as long as the dow cooporates.
Once the DOW closes, this pair should start acting normal again and head upwards.
Trade what you see, not what you think.
  • #77
  • Oct 24, 2007 12:51pm Oct 24, 2007 12:51pm
Quoting karmostaji
Once the DOW closes, this pair should start acting normal again and head upwards.
Need patience o meter..lol
4 hr charts looks similiar, just a little skewed so the 50 % seems to be the fib to pay attention to.
  • #78
  • Oct 24, 2007 1:05pm Oct 24, 2007 1:05pm
Quoting karmostaji
This is when 'patience' really kicks in and tests your tolerance
AGREED BOSS... I just need a high dose of your patience drug...
  • #79
  • Oct 24, 2007 1:06pm Oct 24, 2007 1:06pm
Quoting mamr
AGREED BOSS... I just need a high dose of your patience drug...
And I need a little rest. See everyone a little later.
  • #80
  • Oct 24, 2007 1:17pm Oct 24, 2007 1:17pm
Quoting PipChick
And I need a little rest. See everyone a little later.
the 30 min chart is showing a formation of HS, to complete it has to go to 230.96, do you think if DOW Closes badly today...will it go there or bounce from the montly pivot of 232.80
thanks
imran
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