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  • #17,741
  • Aug 5, 2008 7:06am Aug 5, 2008 7:06am
You know, I thought this day will suck because we'll be stuck like the 3 before, but it's turning out pretty nice. Like I was saying though the longer term downtren is over extended, we could have a retracemnt tomorrow. Would be great to short big just below 56 and then take almost 300 pips.

Altrader, the 8 and 21 on my charts are WMAs not EMAs, confused it yesterday.
On the path to Enrichment.
  • #17,742
  • Aug 5, 2008 7:06am Aug 5, 2008 7:06am
Quoting altrader
I love the people who post their analaysis. It's so interesting to read and makes trading so much more fun in my opinion

I also am learning so much from the experienced traders here. I hope one day I could post something useful to others like them lol But unfortunately I have long way to go
You and me both... so much to learn... it's just so hard trying to trade and working a full-time at the same time... fortunately (or unfortunately), there's been a slow down in the office so we have reduced hours... so I go in at 10 AM (CST)... the downside to that is usually major moves by the pair happens when I'm on the road to work! That truly sucks!
  • #17,743
  • Aug 5, 2008 7:08am Aug 5, 2008 7:08am
Quoting mogenius76
Can someone please explain pivot points, and how they are used/ created?
thefxpivotpoint.com

Full Disclosure: It's my site.

This guy does a nice job of explaining the concept.

http://www.tradejuice.com/forex/pivo...trading-mm.htm
  • #17,744
  • Aug 5, 2008 7:11am Aug 5, 2008 7:11am
Quoting mogenius76
You and me both... so much to learn... it's just so hard trying to trade and working a full-time at the same time... fortunately (or unfortunately), there's been a slow down in the office so we have reduced hours... so I go in at 10 AM (CST)... the downside to that is usually major moves by the pair happens when I'm on the road to work! That truly sucks!
I know how you feel, I'm in the same timezone and work the traditional 8-5 shift. I've spent many sleepless nights trading, watching charts, etc. I find that waking up every couple of hours works out ok. Also, I've noticed many mornings there can be pretty good moves during the 5am hour.
  • #17,745
  • Aug 5, 2008 7:12am Aug 5, 2008 7:12am
Quoting Jurrasic
You know, I thought this day will suck because we'll be stuck like the 3 before, but it's turning out pretty nice. Like I was saying though the longer term downtren is over extended, we could have a retracemnt tomorrow. Would be great to short big just below 56 and then take almost 300 pips.

Altrader, the 8 and 21 on my charts are WMAs not EMAs, confused it yesterday.
Thanks Jurrasic, I'll make that alteration to my journal
  • #17,746
  • Aug 5, 2008 7:13am Aug 5, 2008 7:13am
Here's another site with a lot of helpful learning information.

http://www.investopedia.com/?viewed=1
  • #17,747
  • Aug 5, 2008 7:14am Aug 5, 2008 7:14am
Quoting hard1head1
At S3 Pivot, after this I see nothing until 5400. Clear out to the Daily.
If S3 gives... on my chart it's at .5460.

I see nothing until .5320.
  • #17,748
  • Aug 5, 2008 7:17am Aug 5, 2008 7:17am
Quoting mogenius76
You and me both... so much to learn... it's just so hard trying to trade and working a full-time at the same time... fortunately (or unfortunately), there's been a slow down in the office so we have reduced hours... so I go in at 10 AM (CST)... the downside to that is usually major moves by the pair happens when I'm on the road to work! That truly sucks!
Yeah work + trading is a tough combination but many people learn as you are doing and become successful, so hang in there
  • #17,749
  • Aug 5, 2008 7:19am Aug 5, 2008 7:19am
Quoting acumen
If S3 gives... on my chart it's at .5460.

I see nothing until .5320.
I found your website and it looks really good. I'm going to download your October video in a few hours and watch it tomorrow
  • #17,750
  • Aug 5, 2008 7:20am Aug 5, 2008 7:20am
Quoting acumen
If S3 gives... on my chart it's at .5460.

I see nothing until .5320.
I think we'll see near 53 too, but be carefull of buying much into lows. A retracement could happen - GU and some others are overextended clearly and euro also somewhat. Let's ride the dollar for a change
On the path to Enrichment.
  • #17,751
  • Aug 5, 2008 7:20am Aug 5, 2008 7:20am
See Chart, I look at anything that can get in the way.

Quoting acumen
If S3 gives... on my chart it's at .5460.

I see nothing until .5320.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 40 KB
  • #17,752
  • Aug 5, 2008 7:24am Aug 5, 2008 7:24am
Quoting altrader
I found your website and it looks really good. I'm going to download your October video in a few hours and watch it tomorrow
The videos sizes are huge.

The system is under Video...Pivot Point System.

I suggest downloading the indicator for metatrader also.

It's not mine... I pilfered it from someone... it's does a great job with the Pivots.
  • #17,753
  • Aug 5, 2008 7:27am Aug 5, 2008 7:27am
what about a pullback to s1
  • #17,754
  • Aug 5, 2008 7:28am Aug 5, 2008 7:28am
www.geocities.com/artsameer
vote
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  • #17,755
  • Aug 5, 2008 7:28am Aug 5, 2008 7:28am
Quoting Jurrasic
I think we'll see near 53 too, but be carefull of buying much into lows. A retracement could happen - GU and some others are overextended clearly and euro also somewhat. Let's ride the dollar for a change
Oversold on every chart.

However - that hasn't stopped the bleeding lately.

It's a very good point.

Everyone knows the Fed will leave rates where they are... the big key will be the jawboning afterwards.
  • #17,756
  • Aug 5, 2008 7:30am Aug 5, 2008 7:30am
Quoting acumen
The videos sizes are huge.

The system is under Video...Pivot Point System.

I suggest downloading the indicator for metatrader also.

It's not mine... I pilfered it from someone... it's does a great job with the Pivots.
ohh ok, I'll get the system video file first. And yeah I'm going to get the metatrader indicator download as well.

Many thanks
  • #17,757
  • Aug 5, 2008 7:30am Aug 5, 2008 7:30am
Quoting freetrader
what about a pullback to s1
I won't buy this market.
  • #17,758
  • Aug 5, 2008 7:31am Aug 5, 2008 7:31am
Quoting altrader
Yeah work + trading is a tough combination but many people learn as you are doing and become successful, so hang in there
I'm trying, but it definitely gets frustrating at times...

Thanks for all of the info, from everyone... I'm not gonna even begin to name names... but I've been watching this thread off and on for about 6 months... I appreciate all of the dialog, charts, explanations... everything...

Quick question... how effective do you guys think trading with EMAs and RSIs exclusively is? Any advice for these two indicators?
  • #17,759
  • Aug 5, 2008 7:32am Aug 5, 2008 7:32am
Quoting acumen
If S3 gives... on my chart it's at .5460.

I see nothing until .5320.
I'm curbing my bearish enthusiasm a bit...

Don't forget Daily Fibo Support at 1.542, after lowest support is 1.5320.

Why do I become cautious now for retrace...

FOMC Rate decision, seems to be priced in now already...drop towards above lower levels depends on "hawkish" FOMC statement with hint towards a possible date for a hike and positive ISM figures. (3pm GMT)

Thursday we have BOE & ECB rates, with no surprises to expect but attention on statements again...when hike or cut..

I remain bearish, strong possiblilty we will move down further towards 1.53 levels...but watch out for a surprise retrace towards 1.555 levels

I've hedged positions as risk management & possible damage control

As always...Just my 2 Cents...
  • #17,760
  • Aug 5, 2008 7:33am Aug 5, 2008 7:33am
the monthly s1 pivot is well in our range
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