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  • #241
  • Apr 4, 2008 12:18am Apr 4, 2008 12:18am
Quoting Mina
eurusd and just when I was about to long, spread widened
this is becoming more and more annoying anybody noticed this on ibfx the last couple of days or is it just me ?
IBFX is killing me too. seems like 10 dollar spreads on gj
http://www.forexfactory.com/images/icons/icon8.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #242
  • Apr 4, 2008 12:24am Apr 4, 2008 12:24am
Get an account with MBTrading....... best ECN for small time trader like Us.
  • #243
  • Apr 4, 2008 12:26am Apr 4, 2008 12:26am
Quoting Syafi
Get an account with MBTrading....... best ECN for small time trader like Us.
Thanks Syafi, I'll take a look at their website right now.
All that is left in FF is just plain garbage. "Cloggie"
  • #244
  • Apr 4, 2008 1:11am Apr 4, 2008 1:11am
Just remember, you will need to learn to use their platform & order execution style from the scratch... and its a pain in the tooth to learn their platform, Once you know how to use it, its a child play..
  • #245
  • Apr 4, 2008 8:52am Apr 4, 2008 8:52am
Shorts triggered & looks good
  • #246
  • Apr 4, 2008 8:55am Apr 4, 2008 8:55am
man its so boring waiting for TP i decided I would close the shorts ....

+120 & + 10
  • #247
  • Apr 4, 2008 9:17am Apr 4, 2008 9:17am
Why ............. why did I close those sweet shorts........ .. heading toward original tp now
  • #248
  • Apr 4, 2008 6:35pm Apr 4, 2008 6:35pm
True true, shorts were in as expected yesterday before the market made it's final move upward to test the upper resistance areas.

Even though I stay away from predictions, the Shorts were really starting to reveal as per my post (#226) that I made yesterday, this chart is the reality of what was expected at the Selloff area I mentioned.

Hope you made some good pips anyways, I did not make any trades, slept all night and was out all day.

+2 or more pips is always better then a negative in my book.

Ken
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Close of market Summary.PNG Size: 33 KB
  • #249
  • Apr 4, 2008 9:33pm Apr 4, 2008 9:33pm
I need to learn about the Sell Off Area and Buy Area so I dont have to wait it came down 100 pip before I enter a trade ........ .....

It wont be long with you to teach us
  • #250
  • Apr 5, 2008 12:14am Apr 5, 2008 12:14am
Looking across the big picture chart we can see the weekly supp/res areas to watch, on this move down I would expect it to dip to the 157.00 minor support area.

Here is a basic chart showing some key points.

Cheers till market open,

Ken
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Weekly chart.PNG Size: 47 KB
  • #251
  • Apr 5, 2008 12:51am Apr 5, 2008 12:51am
Quoting Syafi
its a pain in the tooth to learn their platform
You can say that again...
  • #252
  • Edited 3:05am Apr 5, 2008 2:55am | Edited 3:05am
Based upon the triangle formation on the weekly and fib expansions price should remain within the wick of last week with a movement downward coming forth to a low projection to 157.41 area.Price hits this line it will also be resting upon a lower trend line (yellow) which should bounce price upwards again to not only test this weeks high but to break above to the upper trend line around 162.52.These two areas of res/supp are also supported with fibo expansion calculations and the hourly fibo chart I will post next.
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly EJ chart #2.PNG Size: 28 KB
  • #253
  • Apr 5, 2008 3:17am Apr 5, 2008 3:17am
I took that last low area around 156.43 and ran a fibo from there to the high 160.99 which is showing resistance now with a double top.

I placed gray boxes with green numbers showing the sequence I would expect on a move down to test the low where price was in consolidation for about 4 days time.

1 - The first signs of resistance around 161.00.
2- Price moves down to the 38.2 level at 159.25 area.
3- Then from the 38.2 the market moves back up to test the upper resistance area of 161.00 to find the bulls are out and bears are hungry.
4- Price then comes back to the 23.6 and stalls for a bit before collapsing and breaking lower on it's move down to test the #2 area which is also the 38.2 support level at 159.25.
5- I expect price to tap the 38.2 line here on this move down, we may see some support and a possibility of the 159.91 #4 area, but I would think by the formation of this hourly setup that price will push down to the #5 zone at 158.71 which is the 50% level.
6- Then from there the price should stab upwards to test the 38.2 level and find resistance to push price to the target of #7 area which is between the 61.8 and 74.6 level at 157.81 mark.

This is all projection, and I do not take trades on any large time frame such as these, I would not recommend any other trader to take trades base upon any of these projection, but consider your own personal anaylsis when making your trades.

I only use these type of charts and analysis to get a clear direction so when I take my scalp trades on the 1/5 minute charts they are in accordance to the direction/trend I see on the hourly or longer term.

Hopefully Syafi will add his comments to the thoughts and analysis above.

Cheers and enjoy the weekend.

Ken
Attached Image (click to enlarge)
Click to Enlarge Name: EJ Hourly Fib projection.PNG Size: 35 KB
  • #254
  • Apr 5, 2008 10:30am Apr 5, 2008 10:30am
Quoting monarch
True true, shorts were in as expected yesterday before the market made it's final move upward to test the upper resistance areas.

Even though I stay away from predictions, the Shorts were really starting to reveal as per my post (#226) that I made yesterday, this chart is the reality of what was expected at the Selloff area I mentioned.

Hope you made some good pips anyways, I did not make any trades, slept all night and was out all day.

+2 or more pips is always better then a negative in my book.

Ken
The best prediction are made when We didnt take the trades....
  • #255
  • Apr 5, 2008 11:12am Apr 5, 2008 11:12am
Sunday Cowboys calls

Short GBP/JPY - Sell Limit 202.60 SL 203.39 TP 201.35
Short EUR/JPY - Sell Limit 160.10 SL 160.35 TP 159.05/158.75 up to you
  • #256
  • Apr 6, 2008 7:26pm Apr 6, 2008 7:26pm
Quoting Syafi
Sunday Cowboys calls

Short GBP/JPY - Sell Limit 202.60 SL 203.39 TP 201.35
Short EUR/JPY - Sell Limit 160.10 SL 160.35 TP 159.05/158.75 up to you
Short GBP/JPY - Sell Limit 202.60 SL 203.57. TP 201.35 change SL
  • #257
  • Edited 8:13pm Apr 6, 2008 7:58pm | Edited 8:13pm
Just got in from a long day doing some outside work and watching the EJ take off past the 160.06 Resistance and will watch for the continuation up to 160.57, there is a bearish candle forming on the 5 minute after 5 straight bullish candle, so this will be marking my entry point once we one more surge upwards then a retrace down to this 160.23 area.

This is all price action based on segment moves of 70 pips from the candle that started the move at 159.87 30 minutes ago.

Short term trend is Up, so will wait for a curvature in movement for the stab upwards.

Battle time coming forth for the Bulls and a long.

Ken

Update:
I took the Long on the big bear candle that dipped to 160.15 and exited with 11 pips profit, will wait again for the next long entry setup.

Making a note of the drop to 160.15 with the bear candle on the 5 minute. Top of the hour here and Asia session open, will watch for the move upwards possible with 160.57 in sight as a resistance target in the coming 1/2 hour or so.

Price may reach 160.65 on the next surge upwards placing after placing a fibo on the move up here to figure the 38.2 retrace level on the Long to test the high once it is set up....... gotta love the EJ, me likey "S".
  • #258
  • Apr 6, 2008 8:01pm Apr 6, 2008 8:01pm
Are you the cowboy?


Quoting Syafi
Short GBP/JPY - Sell Limit 202.60 SL 203.57. TP 201.35 change SL
  • #259
  • Apr 6, 2008 8:21pm Apr 6, 2008 8:21pm
Quoting monarch
Just got in from a long day doing some outside work and watching the EJ take off past the 160.06 Resistance and will watch for the continuation up to 160.57, there is a bearish candle forming on the 5 minute after 5 straight bullish candle, so this will be marking my entry point once we one more surge upwards then a retrace down to this 160.23 area.

This is all price action based on segment moves of 70 pips from the candle that started the move at 159.87 30 minutes ago.

Short term trend is Up, so will wait for a curvature in movement for the stab upwards.

Battle time coming forth for the Bulls and a long.

Ken

Update:
I took the Long on the big bear candle that dipped to 160.15 and exited with 11 pips profit, will wait again for the next long entry setup.

Making a note of the drop to 160.15 with the bear candle on the 5 minute. Top of the hour here and Asia session open, will watch for the move upwards possible with 160.57 in sight as a resistance target in the coming 1/2 hour or so.

Price may reach 160.65 on the next surge upwards placing after placing a fibo on the move up here to figure the 38.2 retrace level on the Long to test the high once it is set up....... gotta love the EJ, me likey "S".

looks more like luring bulls in for a big down planned later on...
  • #260
  • Apr 6, 2008 8:48pm Apr 6, 2008 8:48pm
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