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  • #25,861
  • Aug 31, 2008 3:22pm Aug 31, 2008 3:22pm
Quoting redland
Dear malcolmb14,

how u know it will retrace to 1.4695...what method u use?

thank you in advance.

justy having a guess .... may be further down.

this whole thing maybe a fake out .. oil only gapped $1.5 and is not going any where
Blogging daily now at www.volume.zone
  • #25,862
  • Aug 31, 2008 3:24pm Aug 31, 2008 3:24pm
Quoting psiholog
take a look at gbp/usd as well....

chancellor in Uk saying on Saturday economy in the Uk worst in 60 years since WWII ...... looking for buy oppertunity gbpusd as I like to do opposite the news ... may not be today .......but soon.
Blogging daily now at www.volume.zone
  • #25,863
  • Aug 31, 2008 3:49pm Aug 31, 2008 3:49pm
this has become a classic channel, break of 695=down, break of 715=up, keys to this is tight stop loss and confirmation of breakout, scalping the channel itself...not possible
Different opinions highly valued, ignorant to slander.
  • #25,864
  • Aug 31, 2008 3:56pm Aug 31, 2008 3:56pm
Quoting psiholog
this has become a classic channel, break of 695=down, break of 715=up, keys to this is tight stop loss and confirmation of breakout, scalping the channel itself...not possible
The only classic thing about it is the low liquidity due to holidays/weekend.

Then after couple of hours after all the fish has placed their bets, the stop hunters will come in, take them out (the channel break out you talk about) and then they will get in at a better price for themselves.

Happens over and over again.

Can't beat them - join them.

Patience is the name of the game.
  • #25,865
  • Aug 31, 2008 3:59pm Aug 31, 2008 3:59pm
no reload 1,4695

thinking down to 1.4675 for reload if there is one


oil at stand still .....
Blogging daily now at www.volume.zone
  • #25,866
  • Aug 31, 2008 4:05pm Aug 31, 2008 4:05pm
Quoting malcolmb14
no reload 1,4695

thinking down to 1.4675 for reload if there is one


oil at stand still .....
Malcolm, I see what's happening on chart, but what do you mean by the term "no reload"?

Thanks,
Ed
Up or down, gimme a ticket
  • #25,867
  • Aug 31, 2008 4:06pm Aug 31, 2008 4:06pm
Here comes the gap fill. Gap being from Friday's close 1.4670.
  • #25,868
  • Aug 31, 2008 4:07pm Aug 31, 2008 4:07pm
Quoting malcolmb14
no reload 1,4695

thinking down to 1.4675 for reload if there is one


oil at stand still .....
nice call... the fast move definitely makes you want to move out of the way of the coming train.
It's easier to jump on the train when it's going your direction and it's not moving as fast.
  • #25,869
  • Aug 31, 2008 4:08pm Aug 31, 2008 4:08pm
great weekend opening, hello fellow traders, good opportunity to short the EU down to the gap fill; EU had no fundamental reason to jump over the weekend except for the japanese sale.

the oil is unlikely to grow too much over the hurricane as all precautions have been taken, and in the light of AAA numbers showing drop in Labor Day week-end travel;

remember, drop in US consumption is the single most important factor that is moving oil price down.

Have a happy holiday and a good trading week!
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #25,870
  • Aug 31, 2008 4:09pm Aug 31, 2008 4:09pm
Quoting SpecialEd
Malcolm, I see what's happening on chart, but what do you mean by the term "no reload"?

Thanks,
Ed

I went long .. was bullish earlier ... scalped a few pips and then was looking to go long again 1.4695 , but the rsi trend line on the 10 min broke , therefore I knew price was coming down ( remember how we looked at rsi trend line earlier)


due to head and shoulders on 4 hour i am still looking for longs ( inverse head and shoulders)


I will wait for pull back and then let rsi ? price action give me guidance for entry
Blogging daily now at www.volume.zone
  • #25,871
  • Aug 31, 2008 4:09pm Aug 31, 2008 4:09pm
I scalped the first long when I saw the GBP breaking the 1.8100, waiting for reload.
  • #25,872
  • Aug 31, 2008 4:10pm Aug 31, 2008 4:10pm
Quoting malcolmb14
I went long .. was bullish earlier ... scalped a few pips and then was looking to go long again 1.4695 , but the rsi trend line on the 10 min broke , therefore I knew price was coming down ( remember how we looked at rsi trend line earlier)


due to head and shoulders on 4 hour i am still looking for longs ( inverse head and shoulders)


I will wait for pull back and then let rsi ? price action give me guidance for entry
OK, thanks.
Up or down, gimme a ticket
  • #25,873
  • Aug 31, 2008 4:11pm Aug 31, 2008 4:11pm
Quoting cobraforex
I scalped the first long when I saw the GBP breaking the 1.8100, waiting for reload.

scored sweet long gj today off 195.7 ...nice start to week
Blogging daily now at www.volume.zone
  • #25,874
  • Edited 4:22pm Aug 31, 2008 4:16pm | Edited 4:22pm
Quoting malcolmb14
scored sweet long gj today off 195.7 ...nice start to week
Congrats, excelent, 35 pips so far. Didn't trigger that one, was to busy with the GBP fall.

Upps, was looking to the USD/JPY. WHERE ARE MY GLASSES???
  • #25,875
  • Aug 31, 2008 4:17pm Aug 31, 2008 4:17pm
Quoting cobraforex
Congrats, excelent, 35 pips so far. Didn't trigger that one, was to busy with the GBP fall.

there seem to be double bottom with bullish divergence rsi 10 min on GU.....

watching that one closely for gap fill at Asia open
Blogging daily now at www.volume.zone
  • #25,876
  • Aug 31, 2008 4:18pm Aug 31, 2008 4:18pm
I have noticed there are alot of scalpers in here. Do any of you do any swing trading? or anything longer term?
  • #25,877
  • Aug 31, 2008 4:21pm Aug 31, 2008 4:21pm
Quoting spivvster
I have noticed there are alot of scalpers in here. Do any of you do any swing trading? or anything longer term?

sometimes I hold a trade for 15 minutes .....lol


i do swing trade ... look at my posts from this morning ... re inverse head and shoulders eu on 4 hr
Blogging daily now at www.volume.zone
  • #25,878
  • Aug 31, 2008 4:36pm Aug 31, 2008 4:36pm
Quoting malcolmb14
there seem to be double bottom with bullish divergence rsi 10 min on GU.....

watching that one closely for gap fill at Asia open
I have that one on my first screen, could be more interesting to trade than EU tonight, anyhow trying to trigger both.

I'm still with the hangover from the SunTader party, hope not to push the wrong botton tonight.
  • #25,879
  • Aug 31, 2008 4:42pm Aug 31, 2008 4:42pm
Quoting cobraforex
I have that one on my first screen, could be more interesting to trade than EU tonight, anyhow trying to trigger both.

long gu on double bottom , 1.8100


just not 100% sure of trade yet ..
Blogging daily now at www.volume.zone
  • #25,880
  • Aug 31, 2008 4:56pm Aug 31, 2008 4:56pm
what daily pivots do you guys have ?

I have 1.4700 as dp
Blogging daily now at www.volume.zone
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