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  • #1,761
  • Apr 1, 2008 12:04pm Apr 1, 2008 12:04pm
You have to love the volatility, its like the central banks are smoking crack today. Guess, where I first started to jump in.... a chart from last night ...:

http://img170.imageshack.us/img170/2...40108h3yx4.jpg


Nice price action, just a break below 200.8 and we have a great start to the quarter

Inserted Video
  • #1,762
  • Apr 1, 2008 12:08pm Apr 1, 2008 12:08pm
Quoting malcolmb14
I sadly could not take advantage as was busy this morning with other things.

The markets are up on what ? UBS and Lehman issuing new stock on the markets to raise funds. Last time I looked this not look good for companies as it means they are in a liquidity sqeeze.The easiest way to make more money is issue more stock , although it does push down the value of the current stocks price. Lehman is the next Bear Stearns waiting to happen.

I smell BS......

I am not chasing here and will either wait for a correction . or wait until tomorrow

Sometime it is better to do nothing and wait for the trade if you missed a good run like this.
I forgot to close out a long entry on the EUR/USD and woke up 100 pips down, tried to average it down a few times only to find the bottom kept sinking lower and SQR'd about 100 pips down.

It only got worse. The NORMALLY LONG GUY (ME) lost some part of his brain in the night and decided to be short today (Imagine that eh?) like 3 times
GJ got me today. I wiped out about 80% or my meager account. I was sure after that mad run up it had peaked and was simply heading down (NO SUCH LUCK).

The bad news is now I will be down to trading one minilot at a time

Advice well taken M and no doubt there is some sort of BS going on.

It looks like of all the 5 major us banks, ONLY one of them is not grossly overextended loaded up with a bunch of useless derivatives.

And as far as issueing stock, Thats funny because thats what the US GOV does, They are printing stock (US DOLLARS) 24/7 devalueing the rest of the currency out there. IT is only a matter of time before the US goes BK.
  • #1,763
  • Apr 1, 2008 12:13pm Apr 1, 2008 12:13pm
Short-Covering rally-Don't break out those rally caps yet!!
Trade what you see - Not what you think
  • #1,764
  • Apr 1, 2008 12:14pm Apr 1, 2008 12:14pm
Quoting 13.1 Runner
I hear on MSNBC that UBS is not allowing any short selling since the bad news. It is only a matter of time. The housing market still stinks and the ARM's continue to put people in forclosure. Banks are not loaning money. P&I insurance is now required on all loans < 80%. of value.

Interesting on the not allowing short selling.

mmmm.....they expect the stock to dive.
Blogging daily now at www.volume.zone
  • #1,765
  • Apr 1, 2008 12:18pm Apr 1, 2008 12:18pm
2 min giving some very nice scalping plays ..... 50 pips a shot.

watch for breakdown 201 into close (12 - 1pm pst) .. .got to be some long covering going into close , which may drop the markets and the gj
Blogging daily now at www.volume.zone
  • #1,766
  • Apr 1, 2008 12:20pm Apr 1, 2008 12:20pm
Quoting malcolmb14
Interesting on the not allowing short selling.

mmmm.....they expect the stock to dive.
whats cooking on GJ next
  • #1,767
  • Apr 1, 2008 12:20pm Apr 1, 2008 12:20pm
Do we go long now on the pull back?

Do we huh?
  • #1,768
  • Apr 1, 2008 12:22pm Apr 1, 2008 12:22pm
waiting for a 123 formation on 15 min chart - which wuold be a break of 200.89 for a short 1st tp 199.95--a break back above 201.67 will put an end to that plan
  • #1,769
  • Apr 1, 2008 12:26pm Apr 1, 2008 12:26pm
Plot macd on a chart , 12,26,9.

If it crosses on a 5 min chart go long , place stop just under the bar that you went long on .

50 sma on 5 min forming support right now. For down side reversal use a break down of thge 50 smao n the 5 min
Blogging daily now at www.volume.zone
  • #1,770
  • Apr 1, 2008 12:28pm Apr 1, 2008 12:28pm
i got a doji and a inverted hammer on my hourly mt4 chart. any other time i would be ready to short this pj but i am apprehensive. something smells!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #1,771
  • Apr 1, 2008 12:29pm Apr 1, 2008 12:29pm
Quoting pip_designer
Happy to see you back Pipchick, and looking forward to your insight.
Good to see they reinstated you, we can learn a lot from you here.
TY Pip Designer
  • #1,772
  • Apr 1, 2008 12:30pm Apr 1, 2008 12:30pm
Quoting malcolmb14
Plot macd on a chart , 12,26,9.

If it crosses on a 5 min chart go long , place stop just under the bar that you went long on .

50 sma on 5 min forming support right now. For down side reversal use a break down of thge 50 smao n the 5 min
hi malcolmb .. thanks.. will change the macd . i had 12,20,9 ... so change to 26 .. and about 50sma ..isnt it little far from the price on 5 min ? on my charts it is ! its at 200.92 right now

Thanks,
Goodbadmas
  • #1,773
  • Apr 1, 2008 12:33pm Apr 1, 2008 12:33pm
Quoting PipChick
yes moneymagnet
your back!!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #1,774
  • Apr 1, 2008 12:34pm Apr 1, 2008 12:34pm
Quoting goodbadmas
hi malcolmb .. thanks.. will change the macd . i had 12,20,9 ... so change to 26 .. and about 50sma ..isnt it little far from the price on 5 min ? on my charts it is ! its at 200.92 right now

Thanks,
Goodbadmas
The beauty of the 50 sma being all the way down there is that it will stop you trying to sell the pair befroe the trend reversal has been confirmed.

If this bad boy does pull back the 50% fib is 199.20 zone
Blogging daily now at www.volume.zone
  • #1,775
  • Apr 1, 2008 12:37pm Apr 1, 2008 12:37pm
Quoting malcolmb14
The beauty of the 50 sma being all the way down there is that it will stop you trying to sell the pair befroe the trend reversal has been confirmed.

If this bad boy does pull back the 50% fib is 199.20 zone

so in other words .. once the price is below 50sma .. we can see a nice rally down correct ?

great .. thanks for answering me quick

goodbadmas
  • #1,776
  • Apr 1, 2008 12:48pm Apr 1, 2008 12:48pm
I wouldn't today. The party's over for now~

quote=dk143wvc;1931932]Do we go long now on the pull back?

Do we huh?[/quote]
Trade what you see - Not what you think
  • #1,777
  • Apr 1, 2008 12:55pm Apr 1, 2008 12:55pm
I think there are a lot of newbies in here and this is the absolute worse place to start your FX career.

Adrenaline Junkies Alley would be a better name for the thread.
Trade what you see - Not what you think
  • #1,778
  • Apr 1, 2008 12:55pm Apr 1, 2008 12:55pm
Quoting malcolmb14
The beauty of the 50 sma being all the way down there is that it will stop you trying to sell the pair befroe the trend reversal has been confirmed.

If this bad boy does pull back the 50% fib is 199.20 zone
Can you post a chart with your sma on it? Mine seems to be much closer.
  • #1,779
  • Apr 1, 2008 1:00pm Apr 1, 2008 1:00pm
Quoting goodbadmas
so in other words .. once the price is below 50sma .. we can see a nice rally down correct ?

great .. thanks for answering me quick

goodbadmas

Look at 60 min ... very similar pattern as Sundays move ..... fairly flat over the last 3 hours , other than the fact that now we are WAY above the 50sma , and we all know that the 50 sma acts like a magnet to price.

RSI is very overbought and there is a hidden bearish divergence in MACD where the indicator is higher this time around than lats time it was at 201.3

I am thinking pull back.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: gj01.jpg Size: 134 KB
Blogging daily now at www.volume.zone
  • #1,780
  • Apr 1, 2008 1:13pm Apr 1, 2008 1:13pm
I snagged this chart from the 1KT traders area. (where the big boys and girls play). Interesting Channel
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