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  • #31,501
  • Sep 17, 2008 9:56pm Sep 17, 2008 9:56pm
just entered long again a few min ago....this is definetely bull environment....cant even break 23.6%(thursdays low sundays high) anymore
Different opinions highly valued, ignorant to slander.
  • #31,502
  • Sep 17, 2008 10:06pm Sep 17, 2008 10:06pm
somebody made a joke and obviously you are a huge stiff.

KEEP THE JOKES COMING, PEOPLE!

Quoting dougdude9
I thought this thread was to help people.
  • #31,503
  • Sep 17, 2008 10:11pm Sep 17, 2008 10:11pm
Quoting psiholog
just entered long again a few min ago....this is definetely bull environment....cant even break 23.6%(thursdays low sundays high) anymore
Bull enviro? Ok weds was an up close, but we have been range bound for almost 10 hours now. Looking at a 30m chart each bar has had a lower high for the last 4 bars. I do think it will move higher (who knows for how long) but why enter now? This time of the day is always dull till Tokyo gets moving.
  • #31,504
  • Sep 17, 2008 10:19pm Sep 17, 2008 10:19pm
Quoting SunTrader
Bull enviro? Ok weds was an up close, but we have been range bound for almost 10 hours now. Looking at a 30m chart each bar has had a lower high for the last 4 bars. I do think it will move higher (who knows for how long) but why enter now? This time of the day is always dull till Tokyo gets moving.
3 reasons...that chart i just showed...upper trend line broken...23.6% holds as i mentioned and as far as ranging for past 10 hours...draw fibs from the low to the high (1.4288to1.4394) 61.8% holds for this time period as seen clearly on 15min chart....yea it may be a bit premature but thats what stop loss is for...right below 23.6%
Different opinions highly valued, ignorant to slander.
  • #31,505
  • Sep 17, 2008 10:37pm Sep 17, 2008 10:37pm
Resistance meeting support...Thanks congrats!

Quoting psiholog
Attachment
Trade with caution set your stops & limits.
  • #31,506
  • Sep 17, 2008 10:42pm Sep 17, 2008 10:42pm
Well there has now been a higher high on 30m but it still hasn't shown which direction the breakout will be so I am content to watch and wait.
  • #31,507
  • Sep 17, 2008 10:54pm Sep 17, 2008 10:54pm
Just looked at that 5m chart again with bull/bear moves notated. First let me say I do look at 5m time frame.

But just like looking at patterns on short timeframes the reliability is less and big moves cannot be expected using TL's or Fibs alone because they line up and look right. Plus long wicks/spikes can really do a number on correct placement of starting/connecting points.

Here is how I would draw TL's basically to capture most price movements and not extremes:
Attached Image (click to enlarge)
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  • #31,508
  • Edited 11:29pm Sep 17, 2008 11:02pm | Edited 11:29pm
Have you seen that gold fall 35$ in the last 3 hours and din't affect the EUR?
That could come soon. (may be)

Add: or pump it up, but good to watch out.
  • #31,509
  • Sep 17, 2008 11:24pm Sep 17, 2008 11:24pm
its funny how fibs overlap right now...making breakout points so clear. break up at 1.4370 or break down at 1.4325
Attached Image (click to enlarge)
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then again this could also become a rising triangle trending upwards until 1.4405...well see
Different opinions highly valued, ignorant to slander.
  • #31,510
  • Sep 17, 2008 11:31pm Sep 17, 2008 11:31pm
Quoting psiholog
its funny how fibs overlap right now...making breakout points so clear. break up at 1.4370 or break down at 1.4325
Attachment
1.4388 is 23.6 fib retracement of downmove from 1.6035 to 1.3879,no breakout until this level is violated
  • #31,511
  • Sep 17, 2008 11:36pm Sep 17, 2008 11:36pm
Quoting tdion
somebody made a joke and obviously you are a huge stiff.

KEEP THE JOKES COMING, PEOPLE!
This is a serious and educative, not to mention informative thread, no space for jokes.
  • #31,512
  • Sep 17, 2008 11:38pm Sep 17, 2008 11:38pm
Quoting pipsfari
1.4388 is 23.6 fib retracement of downmove from 1.6035 to 1.3879,no breakout until this level is violated
good observation and 38.2% is 1.4346 from move down 1.48 to 1.38...interesting
Different opinions highly valued, ignorant to slander.
  • #31,513
  • Sep 17, 2008 11:46pm Sep 17, 2008 11:46pm
More likely to see a break to the top than down, but there could also be fake breakouts so play very carefully. I think most investors will try and break 1.4400 as there is many stops above that level.
Attached Image
  • #31,514
  • Sep 18, 2008 12:04am Sep 18, 2008 12:04am
Hello Traders

Nice upmove overnight I see. Hope all made money.

I see oil up some, gold up...and US markets took another beating yesterday.

Success in all your trades today.
  • #31,515
  • Sep 18, 2008 12:21am Sep 18, 2008 12:21am
Quoting pipsfari
1.4388 is 23.6 fib retracement of downmove from 1.6035 to 1.3879,no breakout until this level is violated

Sorry I am late to this discussion....catching up on posts and prep for today.

Just an adder....this also lines up with the 50% retrace of the last leg down from 1,4907...two fibs lining up perfectly. Could prove to be a very tough ceiling??
  • #31,516
  • Sep 18, 2008 12:30am Sep 18, 2008 12:30am
Quoting psiholog
good observation and 38.2% is 1.4346 from move down 1.48 to 1.38...interesting
Your chart are basely filled with fib? Don't you use median points? If you do does M3 has any affect when price drops down to it or rise and hit it? Do they create any ceiling or more like a a paper, just pass by?
Forex Price Action Hacked - Price Action Rockstar
  • #31,517
  • Sep 18, 2008 12:37am Sep 18, 2008 12:37am
Quoting david_akc
Your chart are basely filled with fib? Don't you use median points? If you do does M3 has any affect when price drops down to it or rise and hit it? Do they create any ceiling or more like a a paper, just pass by?

My 2 cents....price tells you all. Some days price can bounce from M1 to M3 or vice-versa (as example), other days/periods between S/R levels and yet other periods, price can snap to fib levels.
  • #31,518
  • Sep 18, 2008 12:41am Sep 18, 2008 12:41am
Quoting david_akc
Your chart are basely filled with fib? Don't you use median points? If you do does M3 has any affect when price drops down to it or rise and hit it? Do they create any ceiling or more like a a paper, just pass by?
i dont even use pivot points...i just use fibs/resistances/supports/patterns....forex is just patterns that repeat themselves endlessly...whether its on the 1minute chart or yearly chart...its just a matter of how one interprets what they see...you interpret what you see based on many indicators or whatever you use...i interpret based on purely how the market is acting.

for example...the market finally broke up today after being in a nasty channel all week (high 1.4270 low 1.4085)...a break of trend occured now the market is up and staying up...based on fibs alone i feel there are more bulls in the market compared to bears...every pull back is counteracted by bulls keeping things high...using fibs i can identify correct entry points and exit points...and using patterns i can see where a new low or high may be made...right now this is an ascending triangle but still respecting todays fibs somewhat....this tells me enter on pullbacks...exit at the top...made 72 pips in the past 3 hours at a time where not much usually happens

Edit: note that what i do requires a more philosophical way of thinking...most traders use the mathematical way of thinking...i do not recommend in any way or form to do what i do..i do post my observations though just in case it may show something you or anyone else might not have seen
Different opinions highly valued, ignorant to slander.
  • #31,519
  • Sep 18, 2008 12:50am Sep 18, 2008 12:50am
heres something that may benefit even more if you did not notice...todays action...may be good indicator to tommorows action or tonight....

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 39 KB


you will get almost exact same trendline if you connect this weeks high with todays high...
Different opinions highly valued, ignorant to slander.
  • #31,520
  • Sep 18, 2008 12:52am Sep 18, 2008 12:52am


Quoting cobraforex
This is a serious and educative, not to mention informative thread, no space for jokes.
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