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  • #24,821
  • Aug 27, 2008 11:56pm Aug 27, 2008 11:56pm
Quoting Jurrasic
Guys, if I were trading at like 12pm-1am I'd be pissed and rattled too I guess..


Why 875 Sun ? What's there ?

I'm asking because I intend to bomb it short at like 880-900..
Ok here is a pic showing Daily R2 (again it is using DeMark not standard calcs) 127.2% external retracement of drop from 1.4808 to 1.4568 and 100% fib extension of previous upswing off the bottom.

There is also another Tom DeMark technique I use, and that is to look at the close of the nearest swing high / lows and not the high of the swing high or low of the swing low. In this case it is a swing high (shown in blue oval) and that closing price is 1.4874 hmmmm

IMO that is a lot to get through. Doesn't mean it won't. But I will be watching. And also like I said previously, it may not even get that high.
Attached Image (click to enlarge)
Click to Enlarge Name: EU240min.PNG Size: 38 KB
  • #24,822
  • Aug 27, 2008 11:56pm Aug 27, 2008 11:56pm
Quoting malcolmb14
you do not have to be in the market all the time

we may yet break 1.4780 ..... the stop would be a waste of money ....

the market will always be there and if you miss one trade there is another just around the corner
OK, what if you are addicted?
  • #24,823
  • Aug 27, 2008 11:56pm Aug 27, 2008 11:56pm
SL taken out

arrgh


nonetheless i added a low risk position of 1.4783 SL 1.4770.
  • #24,824
  • Aug 27, 2008 11:58pm Aug 27, 2008 11:58pm
closing of AUS now right? when market close i usually see crazy movement a while
  • #24,825
  • Aug 28, 2008 12:00am Aug 28, 2008 12:00am
Quoting malcolmb14
price action prevails ... but something like a rsi really helps along the way
The RSI is one of the few indicators that makes day trading a little easier.

If it's used as a confirmation and not the primary decision maker it's probably pretty reliable.

People - I like giving malcolmb sh#t. Please don't send me anything about tics or volume. Thanks.
  • #24,826
  • Aug 28, 2008 12:00am Aug 28, 2008 12:00am
Quoting trading801
FXO,

shifted SL to 1.478


Btw so ticks is the measure of plus minus pips right as a rough indication of vol?
Just make sure you locked in some profit so no matter what happen, you profit.
  • #24,827
  • Aug 28, 2008 12:00am Aug 28, 2008 12:00am
interesting 1hr candle on Uj, both eu and uj at the figures on the new 1 hr candle...

add: actually on second glance, uj looks even more interesting on the 15 and 30m. methinks whatever happens from here will help clarify things abit.

what I mean for the newer guys is that it could be simple profit taking at the figure, or an early hint of a turn.
FUBAR...
  • #24,828
  • Aug 28, 2008 12:02am Aug 28, 2008 12:02am
Quoting trading801
closing of AUS now right? when market close i usually see crazy movement a while
No mate its only 3.00pm here
  • #24,829
  • Aug 28, 2008 12:03am Aug 28, 2008 12:03am
Quoting acumen
The RSI is one of the few indicators that makes day trading a little easier.

If it's used as a confirmation and not the primary decision maker it's probably pretty reliable.

People - I like giving malcolmb sh#t. Please don't send me anything about tics or volume. Thanks.

Acumen is Irish

I am English

The Irish and English have been giving each other s**t for hundreds of years ..... and it is never going to change

all we need do now is throw in a Welshman and A Scotts man into the mix ....

Blogging daily now at www.volume.zone
  • #24,830
  • Aug 28, 2008 12:05am Aug 28, 2008 12:05am
Testing R1 yet again....
  • #24,831
  • Aug 28, 2008 12:05am Aug 28, 2008 12:05am
Quoting lasty
No mate its only 3.00pm here

ops .. sorry mate

guess some folks knnocked off early sold some euros and went to the beach!
  • #24,832
  • Aug 28, 2008 12:05am Aug 28, 2008 12:05am
Crude just started moving a little quicker upside. Now +$1.05
  • #24,833
  • Aug 28, 2008 12:06am Aug 28, 2008 12:06am
i have made so many irrational decision today.please when is this thing coming back down.
  • #24,834
  • Aug 28, 2008 12:06am Aug 28, 2008 12:06am
my tick s**t says supply on T30 line at 1.4785 .

A T30 is a 30 pip increment from daily pivot ... custom programmed in Tradestation ..... they work really well for 30 pip intermediate levels
Blogging daily now at www.volume.zone
  • #24,835
  • Aug 28, 2008 12:07am Aug 28, 2008 12:07am
Quoting trading801
ops .. sorry mate

guess some folks knnocked off early sold some euros and went to the beach!
more like they heard happy hour and ran down to the pub
  • #24,836
  • Aug 28, 2008 12:08am Aug 28, 2008 12:08am
Quoting acumen
You'd better hope crude continues to climb and tomorrows GDP comes up red.
Your dollar bullishness is breathtaking. I, like Trichet, have no bias because August can be a strange month.

Your not related to Hank "strong dollar policy" Paulson by any chance are you?
Nothing worth having is easy.
  • #24,837
  • Aug 28, 2008 12:08am Aug 28, 2008 12:08am
Quoting oolides
i have made so many irrational decision today.please when is this thing coming back down.
as i mentioned earlier ... 30 min 50 sma ... above htis is long .. below is short ...

or use a 15 min chart is you have no patience

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 151 KB
Blogging daily now at www.volume.zone
  • #24,838
  • Aug 28, 2008 12:09am Aug 28, 2008 12:09am
I'm 3/4 Irish and 1/4 English so where does that leave me. Either way drunk a lot of the time, huh?
  • #24,839
  • Aug 28, 2008 12:09am Aug 28, 2008 12:09am
Quoting oolides
i have made so many irrational decision today.please when is this thing coming back down.


oolide the always wrong boat guy feels that he wont short until at least min 1.48
  • #24,840
  • Aug 28, 2008 12:09am Aug 28, 2008 12:09am
SunTrader, thanks man, will watch out for that. If we get there allright.
Quoting SunTrader
I'm 3/4 Irish and 1/4 English so where does that leave me. Either way drunk a lot of the time, huh?
And Guiness is the BEST beer in the world mate!
Quoting trading801
SL taken out

arrgh


nonetheless i added a low risk position of 1.4783 SL 1.4770.
Where was your sl ? You really shoudln't put your sl above the previous low or even more importantly - the weekly pivot (777), it may be smaller this way but it has no strenght behind it in such a situation. There are 2 things you should seek - small size (good r:r) and good reason to believe that small size is anough, otherwise all the whipsaws will put you out of it in no time.

I'll add a second long at 815.
On the path to Enrichment.
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