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  • #15,681
  • Jul 23, 2008 1:08am Jul 23, 2008 1:08am
Quoting de123
ok...then it wasnt intended for u....
you never know man, ill take what the market throws at me any time any day.
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,682
  • Jul 23, 2008 1:10am Jul 23, 2008 1:10am
Was a Spinning Top pretty much they cant decide on price. Inevitably they'll choose the downside.
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,683
  • Jul 23, 2008 1:12am Jul 23, 2008 1:12am
any chance it hitting 1.5720 today? thats the head and shoulders line from few days ago
  • #15,684
  • Jul 23, 2008 1:12am Jul 23, 2008 1:12am
Yo .. FXCapitalist....you r right .i've done my studies.it will bounce back up till 1.5800/10 and then it will come to u r determination.

good job

peace...
Fools Rushing
  • #15,685
  • Jul 23, 2008 1:12am Jul 23, 2008 1:12am
Quoting Aspire
for the past 40 minutes eur/usd has been going up.

Look where to, the asian session low.

support becomes resistance

Take entry on the 1min chart, small stop.
Don't scalp until you have $100,000,000 in equity. Then you can scalp all day long EUR/USD trade in 10's and 20's where each pip is $1000 - $2000 respectively.
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,686
  • Jul 23, 2008 1:12am Jul 23, 2008 1:12am
I don't think so. In my opinion it's good time for long position. This direction is more probably because Euro economy is strongest. In USA FED still have problem with bank crisis. Every correction should taken advantage to make long position. Of course it's only my opinion. Yesterday I close one long positions but I take only 23 pips. Today I'm waiting on 1,5710 level.
  • #15,687
  • Jul 23, 2008 1:13am Jul 23, 2008 1:13am
Quoting tafy68
any chance it hitting 1.5720 today? thats the head and shoulders line from few days ago
The Head and Shoulders was a failure. when patterns fail they fail big. atleast it didnt fulfill the desired expectations with that recent set up of HnS
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,688
  • Jul 23, 2008 1:14am Jul 23, 2008 1:14am
Quoting FXCapitalist
Was a Spinning Top pretty much they cant decide on price. Inevitably they'll choose the downside.
I'm with you, there's definitely a bear bias in trading. just waiting for a momentum
  • #15,689
  • Jul 23, 2008 1:18am Jul 23, 2008 1:18am
Quoting marius09
I don't think so. In my opinion it's good time for long position. This direction is more probably because Euro economy is strongest. In USA FED still have problem with bank crisis. Every correction should taken advantage to make long position. Of course it's only my opinion. Yesterday I close one long positions but I take only 23 pips. Today I'm waiting on 1,5710 level.
when the opportunity presents itself for a home run shot long then I will consider it. I dont care much for news. Price action is the news to me. Whatever happens happens, I react accordingly no less than 100 pips at a time.
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,690
  • Jul 23, 2008 1:20am Jul 23, 2008 1:20am
heres my chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eu chart.gif Size: 26 KB
  • #15,691
  • Jul 23, 2008 1:23am Jul 23, 2008 1:23am
what's the logic of selling after a 200 pip drop?,, are you guys expecting a 300 pips drop?
  • #15,692
  • Jul 23, 2008 1:26am Jul 23, 2008 1:26am
Where are the bulls? Getting mauled by the bears at the moment
On another note look at the chart between 7/14/08 - 7/16/08 where I anchored my downward Gann Fan, there's your failed HnS if it was a valid HNS it would have never retraced back up to 1.5944 yesterday, if anything that head and shoulders was some failed hunchback of notre dame pattern because it lagged on it's intended result. Break through the equilibrium line of the fan and all hell breaks loose to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: bullskilledbybears.gif Size: 34 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,693
  • Jul 23, 2008 1:27am Jul 23, 2008 1:27am
Quoting FxApasionado
what's the logic of selling after a 200 pip drop?,, are you guys expecting a 300 pips drop?
My 2nd sell there wasnt a great entry, I will TP around the bottom TL might even go long after that, with tight SL incase it breaks through.
  • #15,694
  • Jul 23, 2008 1:30am Jul 23, 2008 1:30am
Quoting FxApasionado
what's the logic of selling after a 200 pip drop?,, are you guys expecting a 300 pips drop?
seeking liqudity,..and later will result in being banned for life....
its just money
  • #15,695
  • Jul 23, 2008 1:30am Jul 23, 2008 1:30am
The H&S that I'm looking at on my 4hr chart has not failed.

The neckline has been tested more times than we all like, but price as yet has not closed above it. Not on my chart anyway. Target still looks good at 1.5700 area. I know it may not reach there, that's a part of trading.
  • #15,696
  • Jul 23, 2008 1:35am Jul 23, 2008 1:35am
My RSI analysis puts the pair in bear territory, Until it reverses back up and closes in bull territory I will consider shorts only. i don't know if any of you study RSI from Baeyens and Cardwell's theories but it makes the typical knowledge of RSI look like a joke...enriching info indeed from those 2. Here comes the drop as we speak every test of 1.5757 takes more weak longs out of the market, the bears have been past that recently, how can the bulls deny us. Die Bulls .
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,697
  • Jul 23, 2008 1:38am Jul 23, 2008 1:38am
Quoting tafy68
heres my chart:
you might get rocked who knows. that's a pretty late entry.
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,698
  • Jul 23, 2008 1:42am Jul 23, 2008 1:42am
There you go. Bulls dieeeee PWNED thanks to all the big banks and everyone else for that slaughter.
Attached Image (click to enlarge)
Click to Enlarge Name: snapsbearishengulfinghaaaPWNEDDDD.gif Size: 33 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,699
  • Jul 23, 2008 1:46am Jul 23, 2008 1:46am
But here's how you get it the other way around.

cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfmakemoneybothways.gif Size: 15 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #15,700
  • Jul 23, 2008 1:58am Jul 23, 2008 1:58am
Almost to the pip of the target of the latest mini-retracement. Looks like I wasn't the only one shorting until that price (1.5730ish).
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-23-07-08--0855.jpg Size: 110 KB
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