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  • #31,041
  • Sep 16, 2008 11:01pm Sep 16, 2008 11:01pm
Quoting Jurrasic
Yeah, bull train could very well be departing the station here.
oh I really hope so Jurrasic .. I mean.. fundamentally this is the best moment for EUR to rally further.. when else..
Money often costs too much...
  • #31,042
  • Sep 16, 2008 11:07pm Sep 16, 2008 11:07pm
Quoting indotrader
oh I really hope so Jurrasic .. I mean.. fundamentally this is the best moment for EUR to rally further.. when else..
i think crude must hit 80$/b support beore we see any euro rally
especially the ECB start printing the currency.

or maybe not
  • #31,043
  • Sep 16, 2008 11:13pm Sep 16, 2008 11:13pm
Not meaning to disrespect psiholog, but one really needs to feel the market I believe. And this feeling includes the market on all relevant, including a bit higher time frames to what you're trading. The more you watch it the more you develop that feeling. When the market was going up so much on Friday and Monday it was a very uncertain move which no one could predict where it would end. Trading it was dangerous unless you caught it early on or scalped smaller ones within it as it was waaay overextended and against the major trend. Counter trend over extended moves are a very good way to profit - when they turn. The big fall from the high there was a given, after some confirmation, the high itself was not. By developing a feeling for the energy of the market, based on trends and volatility, it becomes easier to separate the safe trades from the dangerous ones.
On the path to Enrichment.
  • #31,044
  • Sep 16, 2008 11:22pm Sep 16, 2008 11:22pm
I do not feel disrespected at all. The feel for the market you mention, I have it, after all trading is 80% psychology...my name...psiholog(psychologist)...should say that is my specialty. Watching eur/usd especially for the past 1 year almost 24/7 has helped me develop this feel. However sometimes I battle with my own weaknesses of refusing to be wrong and trade against the trend just to wage a personal war(emotions) against the market. All it takes sometimes is one stop loss to be hit. Im still young...only 22....I have all the time in the world to control myself...margin calls are a thing of the past


On another note...looks like 50% is becoming support...again....we may see 38.2%(1.4250) before any news if not higher
Different opinions highly valued, ignorant to slander.
  • #31,045
  • Sep 16, 2008 11:33pm Sep 16, 2008 11:33pm
psiholog

Just had an example of this overextended trend pull back right now on 5m - we had a bull trend start as it seems, and now price pulled back in 3 successive 5m candles back down to the weekly pivot we broke so violently, very easy scalp on the long from the pivot. Very good opportuinities also occur when you have a clear trending market and then there's a pull back of 40+ pips of 5m/15m candles all counter-trend (with no clear small inner retracements) back to a major s/r or pivot - a simple situation to scalp or even reeneter on the trend (though I like just taking what I can get for sure ussualy).
On the path to Enrichment.
  • #31,046
  • Edited 11:49pm Sep 16, 2008 11:33pm | Edited 11:49pm
38.2% first resistance...1.4270 very strong resistance..once broken...true bull run begins
Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 39 KB


just closed half my positions..full retracement is a temporary resistance...may pull back here in which case reload longs at 50% or lower hehe...stop loss at entry for rest
Different opinions highly valued, ignorant to slander.
  • #31,047
  • Sep 16, 2008 11:51pm Sep 16, 2008 11:51pm
Quoting psiholog
38.2% first resistance...1.4270 very strong resistance..once broken...true bull run begins
Attachment

just closed half my positions..full retracement is a temporary resistance...may pull back here in which case reload longs at 50% or lower hehe...stop loss at entry for rest
My guess price might retrace down due to divergence

Lame...
Attached Image (click to enlarge)
Click to Enlarge Name: 17 sep 08.gif Size: 73 KB
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  • #31,048
  • Sep 16, 2008 11:58pm Sep 16, 2008 11:58pm
Could be a retrace on London open indeed, but back up then would be my guess.
On the path to Enrichment.
  • #31,049
  • Sep 17, 2008 12:00am Sep 17, 2008 12:00am
I am also at the bull camp right now, just waiting for the bull train to depart. Let's just hope it's a smooth and easy ride.
All the best things in life are free.
  • #31,050
  • Sep 17, 2008 12:02am Sep 17, 2008 12:02am
Quoting fx_lane
I am also at the bull camp right now, just waiting for the bull train to depart. Let's just hope it's a smooth and easy ride.
I can't tell honestly speaking. But looking at the price it could jolly well stop at R1 1.4269.

Care to elaborate?
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  • #31,051
  • Sep 17, 2008 12:04am Sep 17, 2008 12:04am
Quoting fx_lane
I am also at the bull camp right now, just waiting for the bull train to depart. Let's just hope it's a smooth and easy ride.
looked very bullish yesterday too for about half the day, then when 1.4270 could not get broken...boom..crash..up..down...nasty stop loss scenario...if 1.4270 becomes support (preferably 1h or 4h close above that)....next stop...1.4450 or so according to 4h inverted head and shoulders chart i mentioned earlier
Different opinions highly valued, ignorant to slander.
  • #31,052
  • Sep 17, 2008 12:23am Sep 17, 2008 12:23am
Quoting Jurrasic
Hmm... While the direction of the move may be uncertain, the way it all looks, it could be quite the move today. Will also watch for this big hourly triangle break. I know it faked a few times just expanding itself instead of breaking out, but now it feels this could be the real thing...
Good call wish i was in
  • #31,053
  • Sep 17, 2008 12:28am Sep 17, 2008 12:28am
Look at the daily chart. QQE has already crossed up indicating the weakening down trend.

On the other hand the hourly chart indicates higher low which are "even better " confirmed by the QQE. which has crossed up and price is trading above gann activator. I think I can extract +- 100 pips for now, will wait till daily confirms till then I only intra day trade this babe.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1h.gif Size: 37 KB
All the best things in life are free.
  • #31,054
  • Sep 17, 2008 12:28am Sep 17, 2008 12:28am
a retrace to previous resistance 1.4220 would be sweet now to confirm its support now and to load more longs
Different opinions highly valued, ignorant to slander.
  • #31,055
  • Sep 17, 2008 12:30am Sep 17, 2008 12:30am
Hi guys you guys are great. Just reading your post made me realise I am missing something worst off then reading other website which is more colorful and general.

You guys hit the nail on the spot except price has yet hit R1.

I should I have listen to you about the bull run, still waiting a chance to go short.
Forex Price Action Hacked - Price Action Rockstar
  • #31,056
  • Sep 17, 2008 12:30am Sep 17, 2008 12:30am
Quoting turboguru
Good call wish i was in
You may still get the chance, I wouldn't be surprised to see a 50+ pip pull back from 280 area, and then back up to that level at least. Let's wait and see...
On the path to Enrichment.
  • #31,057
  • Sep 17, 2008 12:31am Sep 17, 2008 12:31am
Quoting Jurrasic
You may still get the chance, I wouldn't be surprised to see a 50+ pip pull back from 280 area, and then back up to that level at least. Let's wait and see...
wow this is scary...you just said what i said...trippy

maybe i confirmed i have that market "feel" hehe
Different opinions highly valued, ignorant to slander.
  • #31,058
  • Sep 17, 2008 12:32am Sep 17, 2008 12:32am
Quoting psiholog
looked very bullish yesterday too for about half the day, then when 1.4270 could not get broken...boom..crash..up..down...nasty stop loss scenario...if 1.4270 becomes support (preferably 1h or 4h close above that)....next stop...1.4450 or so according to 4h inverted head and shoulders chart i mentioned earlier
after all we all trade what we see. And I do not trade someone else's charts but my own. So thats how I see it, no one knows exactly alse it'd be simple. so read your charts and act accordingly.
May the pips be with you.
All the best things in life are free.
  • #31,059
  • Sep 17, 2008 12:32am Sep 17, 2008 12:32am
We're at some resistance area.
Attached Image (click to enlarge)
Click to Enlarge Name: eu_chart.JPG Size: 159 KB
  • #31,060
  • Sep 17, 2008 12:35am Sep 17, 2008 12:35am
Quoting fx_lane
after all we all trade what we see. And I do not trade someone else's charts but my own. So thats how I see it, no one knows exactly alse it'd be simple. so read your charts and act accordingly.
May the pips be with you.
exactly how i feel, i give my perspective in this forum but also look at what others say ...maybe i missed something i wasnt aware of..that crucial little information that makes all the difference...your right on
Different opinions highly valued, ignorant to slander.
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