that is standard rsi on accucharts.....
Elijah
- #1,082
- Mar 26, 2008 8:53pm Mar 26, 2008 8:53pm
Wondering if anybody dares to short at current level @198.00 area or lower ..
I am in long :|.
It certainly is going down, its a matter of how far it will go DOWN.
I hope it doesn't have to go down to 195 area to clear up some old debts.
I'd sure think getting short at 198.00 is for sure good for a 2-50 pip scalp down. I think there is some strong support at 197.50 and hopefully will bounce back up from there for a bit.
Elijah
Those are some wicked looking wicks
The Japs close their markets down completely for lunch so we're in a lull for another hour or so..
The Japs close their markets down completely for lunch so we're in a lull for another hour or so..
Wondering if anybody dares to short at current level @198.00 area or lower ..
- #1,084
- Mar 26, 2008 9:01pm Mar 26, 2008 9:01pm
Wondering if anybody dares to short at current level @198.00 area or lower ..
Short??????
I am waiting to go long. It may occur at 8:oo pm PST or so, but for me this is a definite long. This is wave C till several hours from now, mostly around 1:00 am PST when i expect a high to be reached.
Al
- #1,086
- Mar 26, 2008 9:05pm Mar 26, 2008 9:05pm
- Joined Feb 2008 | Status: Trader | 5,732 Posts
Patience + Discipline - Greed = Success
- #1,087
- Mar 26, 2008 9:13pm Mar 26, 2008 9:13pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
With the US futures flat, I would think London may take it higher tonight-they often reverse the Asian session~The GU needs to hold the 200.50 level.
No news overnight worthwhile so I'll be biased to the upside..I'll dream about it..
Thanks for letting me weigh in here- it was fun 
Cheers~
No news overnight worthwhile so I'll be biased to the upside..I'll dream about it..
Thanks for letting me weigh in here- it was fun Cheers~
- #1,090
- Mar 26, 2008 9:14pm Mar 26, 2008 9:14pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #1,091
- Mar 26, 2008 9:18pm Mar 26, 2008 9:18pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Short??????
I am waiting to go long. It may occur at 8:oo pm PST or so, but for me this is a definite long. This is wave C till several hours from now, mostly around 1:00 am PST when i expect a high to be reached.
Al
Well, let's see .. it's a very bearish trend for sure for mid and long term. Anyway, am in no position. Very blessed to have my daily goal met so far. But will act if opportunity arises
Thanks.
- #1,092
- Mar 26, 2008 9:20pm Mar 26, 2008 9:20pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Short??????
I am waiting to go long. It may occur at 8:oo pm PST or so, but for me this is a definite long. This is wave C till several hours from now, mostly around 1:00 am PST when i expect a high to be reached.
Al
Al
I am with you if this 20 min chart plays out , long trigger bar high 198.32 , say 198.60 for entry
Upside targets 199.11 , 199.5 , 200
It could take a few hours for this trade to play out. , sometimes these 20 min trigger take time to get filled
Blogging daily now at www.volume.zone
- #1,093
- Mar 26, 2008 9:27pm Mar 26, 2008 9:27pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Here is the 60 min , and some observations
1) double bottom
2) massive bull div on rsi
3) inside bar forming
all looking good for longs,
1) double bottom
2) massive bull div on rsi
3) inside bar forming
all looking good for longs,
Blogging daily now at www.volume.zone
- #1,094
- Mar 26, 2008 9:32pm Mar 26, 2008 9:32pm
Wave C ?? You are very optimistic on this pair bro
Well, let's see .. it's a very bearish trend for sure for mid and long term. Anyway, am in no position. Very blessed to have my daily goal met so far. But will act if opportunity arises
Thanks.
Bullish on this pair?
Absolutely not. However, facts are facts. I have a strong culimination of facts pointing to an upmove so they can make suckers out of those who short at these levels. My educated guess is that the London session, or late Asian session will see a high and then a drop in prices.
No sir....a move like 360 pips eventually leads to lower prices after the market has suckered some people to get in and this happens in the consolidation phase. You ain't short, are you bro? If so, you may have a large drawdown before you can take it to the bank
Al
- #1,100
- Mar 26, 2008 9:58pm Mar 26, 2008 9:58pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
I made a few back but ended up down about 800 but at one point I was down over 2k. I know small numbers. But I sure gave back alot of profits on last weeks fiasco down to 193. Sad fact is I know in my heart it is going down and I am long with 3 @ 198.72 so I'm sitting another 200 down
Funny thing is I can't find ONE chart that says anything but DOWN,
not even the bloody 1 minute which I never look at any more.
This sucker bas beat the hell out of me when I have played it short.
I swore once I would never play this beast again but most of the other pairs are WAY too slow and boring.
Everything returns to its origin. GJ works in cycles.
I am just betting that it is going to return higher on those new long cycles.
And if I have to stomache a run down to 195, I can.
But what I hate is paying interest overnight.
I was long earlier from like 199.39 or something at 5PM and when it rolled over Forex.com lowered by basis to 199.32. so $7 interest! They do rock
with the interest they agreed to give me but I cant make it anywhere as easily as I can at FXSOL who lets me HEDGE and doen't screw me with FIFO.
So I can sell any short or long without aftecing any other one I want.
if I have 10 longs in all bought at different prices, they let me sell any one I want. They don't force me to sell my highest and most expensive one
(biggest loser) first. So Forex.com is killing me, But FXSOL won't let me exceed $5000 a month in CC deposits. Yep that 192 crash from last week or whatever caught me with NO shorts, And I left the trading station open
and was gone all day. SO NEVER DO THIS ANYONE!!!
seriously SET your stop loss and tp orders before you go to the bathroom!
Needless to say my wife called as I was approaching a margin call.
They wouldn't credit the account for the money she tried to put on a cc
because we alreayd opened an account this month at 5K so our credit card deposits were done for 30 days! ARG So they sold me out. Left me out 5G in my money and 2G in profits from sunday-wednesday (when it crashed I think).
So for the week I lost the 300+ I made yesterday so for the week I am down
about 500 not counting my 3 longs at 198.72.
I am looking to try to get back even this week and make up last week in the next 30 days.
If I was smart I'd send some cash to FXSOL and start playing both sides.
Nothing like being short and long at the same time at the same price (less spread of course) on the same pair eh? Or if I was even smarter
I'd learn how to use that MB Trading very good and use them.
Wow thier spreads are awesome. That are normally ONLY 4 or 5 on GJ
but they charge a $10 commision RT on a standard lot.
Well I am checking my GJ longs and making sure my stops and limit orders are set for the night...then I am hitting the hey!
Btw, with 5k account playing with one standard lot is 20% of your capital. It is a very risky MM ratio, not to mention playing this wild pair. Might consider to limit to 10% max ?