DislikedNewstrader,
Dont you think its slightly misleading to post this update that seemingly infers that the call you made and repeated on every major thread in FF (on Thursday night) was made for a long at Fridays closing price of 198.99; but it was made when price was at 201.10-201.20 and subsequently fell over 300 pips on Friday to test the recent low at around 198.00?
I realise that as a swing trade such drawdown is not really too much trouble for a seasoned trader but here in a learning forum dedicated to day trading, filled with newbies, you could see how easily your call, which did not have any qualifications entry criteria or money management guidance could have been followed by many people as a day trade. As you would appreciate, treated as a solid intraday trade this would have swallowed any noobie lemming traders' accounts who followed the call blindly.
Congratulations on your trade but any person with any experience in this market caught the ride up on the breaking of the daily TL. They also caught the 300 pip ride down on last Friday too.
I am not dismissing your swing trade call but please dont use this forum as a pissing contest and or a reputation builder and if you really have to, please be explicitly and implicitly honest with your bragging. Is your ego worth ruining peoples accounts who dont know any better?Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #74,022
- Edited 4:13am Apr 19, 2008 3:37am | Edited 4:13am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Here is a weekly chart I'm considering for next week. . .
Please review it and let's have an intelligent discussion about it if anyone want to talk TA. . .
My plan is to not short but to look for solid support to buy. I'm looking at 204.70 area is weekly support, 203.49 area is the trend line break.
So price could test these support areas before heading back up. My gut tells me if price decrease to the 203.50 area then it might spike back up and sit above 204.70 area before heading back up. . . That's if it's to go back up, a break of these support areas would invalidate this theory IMO!
Feedback welcomed. . .
Good morning all =
Please review it and let's have an intelligent discussion about it if anyone want to talk TA. . .
My plan is to not short but to look for solid support to buy. I'm looking at 204.70 area is weekly support, 203.49 area is the trend line break.
So price could test these support areas before heading back up. My gut tells me if price decrease to the 203.50 area then it might spike back up and sit above 204.70 area before heading back up. . . That's if it's to go back up, a break of these support areas would invalidate this theory IMO!
Feedback welcomed. . .
Good morning all =
- #74,024
- Edited 5:29am Apr 19, 2008 5:16am | Edited 5:29am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Here is a 4hr then 1hr chart for u. . .
Looks like all mom's are pointing down. . . mom (1) is below the zero line so we could see price head back toward either 5 SMA lo (yellow line or gann hi/lo).
Also notice that gann hi/lo is right ar'd the 203.50 area I've been discussing and 5 SMA low is ar'd the 205/204.70 area discussed as well. . .
One thing I will be focusing on is the ZL MACD, I will be looking for it to bottom before entering long as price continues to move down. . . That's if all other conditions are met that I discussed in previous post.
I will also be monitoring the 1hr chart as well but won't be discussing that one here but I'll post it. . . However, I will say this notice the ZL MACD. . . There is a long bar there, so if we see price continue to go down but see divergence on the ZL MACD, one could easily wait for a bar on the ZL MACD to sit above and assume that a bottom has been reached -
However, we could see lower bars on the ZL MACD but still I will be waiting for it to bottom out to give clues that a bottom has been reached. . . Also, notice that price is trading below 1hr gann hi/lo for now and 1hr ZLS has crossed BUT 5 SMA has not crossed yet. . . 5 SMA on 1hr is the white line. . .
cheers
Looks like all mom's are pointing down. . . mom (1) is below the zero line so we could see price head back toward either 5 SMA lo (yellow line or gann hi/lo).
Also notice that gann hi/lo is right ar'd the 203.50 area I've been discussing and 5 SMA low is ar'd the 205/204.70 area discussed as well. . .
One thing I will be focusing on is the ZL MACD, I will be looking for it to bottom before entering long as price continues to move down. . . That's if all other conditions are met that I discussed in previous post.
I will also be monitoring the 1hr chart as well but won't be discussing that one here but I'll post it. . . However, I will say this notice the ZL MACD. . . There is a long bar there, so if we see price continue to go down but see divergence on the ZL MACD, one could easily wait for a bar on the ZL MACD to sit above and assume that a bottom has been reached -
However, we could see lower bars on the ZL MACD but still I will be waiting for it to bottom out to give clues that a bottom has been reached. . . Also, notice that price is trading below 1hr gann hi/lo for now and 1hr ZLS has crossed BUT 5 SMA has not crossed yet. . . 5 SMA on 1hr is the white line. . .
cheers
- #74,025
- Apr 19, 2008 9:40am Apr 19, 2008 9:40am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #74,027
- Edited 12:43pm Apr 19, 2008 10:00am | Edited 12:43pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
yes i am...sorry i'm late...
Let me know if that works
Indicators show the past. Price Action "Indicates" the future.
- #74,028
- Apr 19, 2008 10:06am Apr 19, 2008 10:06am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Right click on you meta trader and click "Save as Picture" then click "Active chart" with 600x600 pixels, then hit "Ok". Then save where ever you want it.
Let me know if that works
Indicators show the past. Price Action "Indicates" the future.
- #74,029
- Apr 19, 2008 10:11am Apr 19, 2008 10:11am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!
- #74,030
- Apr 19, 2008 10:11am Apr 19, 2008 10:11am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #74,032
- Apr 19, 2008 10:21am Apr 19, 2008 10:21am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #74,035
- Edited 1:54pm Apr 19, 2008 1:19pm | Edited 1:54pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
- #74,038
- Apr 19, 2008 3:26pm Apr 19, 2008 3:26pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
When we looking in our charts, we see our time frames, from 1min to 1week, but when you expand on historical data, not over the years, I mean Decades, then Our picture is much clearer. QUE, I agree with you, we must look in the past, we can learn a lot for the future.
Guys, here are my charts, I am not commenting, just look what is in it. Tomorrow I am preparing another analysis for DJ as well..
CYCLES (approximate durations given):
SUPER CYCLE: [from years to decade]
CYCLE: [ one year to few years]
PRIMARY: [few months to couple of years]
INTERMEDIATE: [weeks to months]
MINOR: [weeks]
Here we are:
Once upon a time ...................
Just notice, WHY our relly stopped on 209.22 ( LOOK CAREFULLY PRICE LEVELS).....
P.S. I am using DATA from 30.OCT.1975, for your reference, please find attached ASCII file....
Also, throw a 78.6% fib on your chart because ABC corrections typically will go to 61.8% - 78.6%. This will give us clues how much head room GJ has if it's pushed up. . . I'll post a chart in a few. . .
Piters, much respect to you my friend, love the TA =
