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  • #18,181
  • Aug 7, 2008 9:51am Aug 7, 2008 9:51am
At least 430 area can be visited for a retrace, 61.8 fibo.
If it breaks LTL then we can see 152.
Where do you wait friday to close?
Buying Tops, Selling dips xP
  • #18,182
  • Aug 7, 2008 9:54am Aug 7, 2008 9:54am
Quoting SpecialEd
Trechet is a lot smoother and more sure of himself than Bernanke.
Confidence and ego are counterproductive to monetary policy.

Have you read Bernake's book?

This guys razor sharp.
  • #18,183
  • Aug 7, 2008 9:55am Aug 7, 2008 9:55am
Quoting Empyrium
At least 430 area can be visited for a retrace, 61.8 fibo.
If it breaks LTL then we can see 152.
Where do you wait friday to close?
Don't know if I have the patience for that 61.8 level!!
  • #18,184
  • Aug 7, 2008 9:58am Aug 7, 2008 9:58am
Quoting acumen
Confidence and ego are counterproductive to monetary policy.

Have you read Bernake's book?

This guys razor sharp.
Point taken. No, I haven't read his book. As much as I'm growing to love trading, I think a book by him would pretty doggone dry.
Up or down, gimme a ticket
  • #18,185
  • Aug 7, 2008 9:59am Aug 7, 2008 9:59am
Quoting Empyrium
At least 430 area can be visited for a retrace, 61.8 fibo.
If it breaks LTL then we can see 152.
Where do you wait friday to close?
how about 5412 so it ends day with doji star
  • #18,186
  • Aug 7, 2008 10:15am Aug 7, 2008 10:15am
Quoting Jono
That's IMO the problem with oscillators - as they're "bounded indicators" they can spend ages in the top / bottom 20% of their range, whereas an "unbounded indicator" can give an actual high or low number which can be compared with prior swings.

Exactly correct. The term is 'normalized'.
"Timing Is Everything. Really I Swear It Is"
  • #18,187
  • Aug 7, 2008 10:17am Aug 7, 2008 10:17am
Quoting Empyrium
Where do you wait friday to close?
In theory, should be right the time for some retace, so 450-500 I'd say. And then try for closer to 53 again at start of next week.
On the path to Enrichment.
  • #18,188
  • Aug 7, 2008 10:27am Aug 7, 2008 10:27am
Quoting TexasforEX
Exactly correct. The term is 'normalized'.
ah - thanks - I got used to "bounded" as Jim Sloman ( Adam, Delta & Ocean Theories) used it and I followed some of his methodologies for a while.
  • #18,189
  • Aug 7, 2008 10:40am Aug 7, 2008 10:40am
Def time for a retrace. Lots of divergence. Check out reverse hammer on USD/CHF, her sister pair. no doubt time to begin a buy position for a touch of a retrace anyway.....100 pips perhaps? Won't know until she tells us. Might be a tad spiky between now and then but buy time is now.
There's always money in the banana stand.
  • #18,190
  • Aug 7, 2008 10:49am Aug 7, 2008 10:49am
Dancing, or falling???
  • #18,191
  • Aug 7, 2008 10:53am Aug 7, 2008 10:53am
If we close below 1.538X, it looks like the next big resistance level could be 1.4850ish...
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  • #18,192
  • Aug 7, 2008 10:53am Aug 7, 2008 10:53am
http://4.bp.blogspot.com/_nmIuQsC9b-...ver++eur22.png
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  • #18,193
  • Aug 7, 2008 10:54am Aug 7, 2008 10:54am
my upper long got stopped out
Money often costs too much...
  • #18,194
  • Aug 7, 2008 10:56am Aug 7, 2008 10:56am
That was an LTL.. next one is if we draw a parallel to the upper - a bit below 53 it seems.
On the path to Enrichment.
  • #18,195
  • Aug 7, 2008 10:57am Aug 7, 2008 10:57am
Quoting indotrader
my upper long got stopped out
I'm short again at 5345.. T/P at 5310
  • #18,196
  • Aug 7, 2008 10:58am Aug 7, 2008 10:58am
Fiber just won't stop falling. Is this a bottomless pit?
Expected the unexpected
  • #18,197
  • Aug 7, 2008 10:59am Aug 7, 2008 10:59am
strange thing is that DOW is dropping and gbpusd just formed higher low (or at least that's what seems). I wouldn't count it going a lot lower..
  • #18,198
  • Aug 7, 2008 11:00am Aug 7, 2008 11:00am
EU is trying to find a bottom. GU, and AU both found bottoms. EU is the crazy one. Long from 5335
  • #18,199
  • Aug 7, 2008 11:01am Aug 7, 2008 11:01am
All Out at 1.5332...to much resistance and not enough "oempf" at this time, new 7 wk low been printed...we might have reached bottom for today IMO, time to re-evaluate my strategies...

As always...Just my 2 cents...
  • #18,200
  • Aug 7, 2008 11:02am Aug 7, 2008 11:02am
5350 I will enter another short with tight SL
Money often costs too much...
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