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  • #5,801
  • Mar 26, 2008 10:46am Mar 26, 2008 10:46am
Quoting digitil
Agree... sticking to my 53-ish resistance thought from last week, and think that it may eventually go all the way back up to 1.60 and possibly beyond - come hell or high water. In fact, both will come

Making no predictions about WHEN this might occur, of course
ahhh. I just love when I'm right. ... not very easy to pick bottom without getting a stinky finger
  • #5,802
  • Mar 26, 2008 10:47am Mar 26, 2008 10:47am
Quoting firebolt
say what?? hahaaa...... ;/
I just said that price was going to reach 1.58 as it is now...
  • #5,803
  • Mar 26, 2008 10:49am Mar 26, 2008 10:49am
Quoting emda
I just said that price was going to reach 1.58 as it is now...
So say the price will be 1.6...
  • #5,804
  • Mar 26, 2008 11:05am Mar 26, 2008 11:05am
nice weather out... putting on my short sleeves, heh.
  • #5,805
  • Mar 26, 2008 11:12am Mar 26, 2008 11:12am
Quoting digitil
nice weather out... putting on my short sleeves, heh.
Shorts, I wouldn't be so sure we are going down... I've seen this week after week of dollar getting demolished, and I personally think that US will be in a bit of a recession for a little while. Strong Bull bars last 3 days... Wait for the bear signs and then take it. Of course, just my opinion.
  • #5,806
  • Mar 26, 2008 11:15am Mar 26, 2008 11:15am
Quoting fxmillion
The pair’s correction is so strong that it passes all resistances in its way, but after a strong rise a stronger drop will follow.
you say after a strong rise a stronger drop, well, it just passed a reaaally strong drop, from 1.5904 to 1.5340.....next is a strong rise, thats whats happening....
  • #5,807
  • Mar 26, 2008 11:28am Mar 26, 2008 11:28am
Definately in an uptrend right now. Who knows how long. 5 minutes or 5 days? I just follow the current trend. I don't need to hit a top or bottom. I let the chart tell me which way to go.
  • #5,808
  • Mar 26, 2008 12:04pm Mar 26, 2008 12:04pm
Quoting pamelomarcos
you say after a strong rise a stronger drop, well, it just passed a reaaally strong drop, from 1.5904 to 1.5340.....next is a strong rise, thats whats happening....
That was hardly a strong drop and this is hardly a strong rise. It was a 38.2 drop. Thats weak.

But at least you weren't trying to short
  • #5,809
  • Mar 26, 2008 12:06pm Mar 26, 2008 12:06pm
it is very very close to that fork trendline.. isn't it David?
I'm not sure if it can go to R3 today...
  • #5,810
  • Mar 26, 2008 12:09pm Mar 26, 2008 12:09pm
Quoting xxDavidxSxx
Here is target revised based on angle of assent. I got out for the news since were nearing a possible reversal zone.


http://img208.imageshack.us/img208/3...lytrendhs4.gif

Well price over shot my target by 20 pips. Not bad. And it happened on the exact time bar I projected with the vertical red line.

Now we just wait and see what develops. Critical area now.

Just don't get trade happy just yet. What ever happens, there will be plenty of pips to be taken from the market. Enter too early, or develop a bias too early, and the market will take plenty of pips from you.
  • #5,811
  • Mar 26, 2008 12:13pm Mar 26, 2008 12:13pm
Quoting emda
it is very very close to that fork trendline.. isn't it David?
I'm not sure if it can go to R3 today...
Its reached a median fork line from a high time frame that lies at 1.5833.
  • #5,812
  • Mar 26, 2008 12:16pm Mar 26, 2008 12:16pm
Its the same median line from the fork I projected in early Feb. Still honoring it I see.

And as you can see the 38.2 correction is not a correction to the trend but "with in" the trend. A correction to the trend will break below and move beyond the lower yellow bottom trend line.


http://img378.imageshack.us/img378/8...lytrendfl8.gif
  • #5,813
  • Mar 26, 2008 12:17pm Mar 26, 2008 12:17pm
yes... when there is a clear target... such this 1.58... one can think that price will overpass it by some pips usually from 20 to 25 pips to stop agressive traders. I closed the long at 1.58... and scalping some small longs now.. but with little risk.
  • #5,814
  • Mar 26, 2008 12:18pm Mar 26, 2008 12:18pm
yes... same median line of the channel... http://www.forexfactory.com/showpost...postcount=5776

if a fork and a channel agree.. good..
  • #5,815
  • Edited 12:34pm Mar 26, 2008 12:23pm | Edited 12:34pm
Another thing,

Notice how neat and clean my charts look? Easy to read and see what its showing you.

I'd like to see some of you adopt that idea.

EDIT: Emda, that didn't apply to you. The chart in the link is nice and clean
  • #5,816
  • Mar 26, 2008 12:25pm Mar 26, 2008 12:25pm
Quoting emda
yes... when there is a clear target... such this 1.58... one can think that price will overpass it by some pips usually from 20 to 25 pips to stop agressive traders. I closed the long at 1.58... and scalping some small longs now.. but with little risk.
I didn't even trade NY today. London was enough. I want to see what develops. Between the blue lines on my chart is the reversal range, and its rather big range.
  • #5,817
  • Mar 26, 2008 12:33pm Mar 26, 2008 12:33pm
Quoting xxDavidxSxx
Another thing,

Notice how neat and clean my charts look? Easy to read and see what its showing you.

I'd like to see some of you adopt that idea.
not as clean as this one:

http://www.forexfactory.com/attachme...1&d=1206534097

naked charts and naked women rule my world
  • #5,818
  • Mar 26, 2008 12:38pm Mar 26, 2008 12:38pm
Quoting xxDavidxSxx
Another thing,

Notice how neat and clean my charts look? Easy to read and see what its showing you.

I'd like to see some of you adopt that idea.

EDIT: Emda, that didn't apply to you. The chart in the link is nice and clean
Honestly though,

I don't need 10 indicators to show me what the price has done. I can see what the price has done with out all that. But properly drawn trend lines can show you what its going to do.

The one thing I have found good for showing what the price is doing now is a 7 sma close and 7 sma open. If you see 2 ma's on a chart thats what they are. They tell you if the last 7 bars average closing above or below the open. They will filter alot of zig zag.
But trend lines rule
  • #5,819
  • Mar 26, 2008 12:39pm Mar 26, 2008 12:39pm
Hi David.. a question for you.. Trying to learn forks..
Why did you draw this fork? white doted line... and not this one in yellow?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: forkquestion.png Size: 31 KB
  • #5,820
  • Mar 26, 2008 12:39pm Mar 26, 2008 12:39pm
Quoting digitil
not as clean as this one:

http://www.forexfactory.com/attachme...1&d=1206534097

naked charts and naked women rule my world
Yea thats the one that sparked my post.

I was like, whats the heck is that telling me?
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