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  • #32,441
  • Sep 20, 2008 5:09pm Sep 20, 2008 5:09pm
Quoting acumen
The zone is doing everything they can to hide how poorly they are doing.

The fact that they are geographically and politically fragmented doesn't help either.

There is a much greater degree of transparency in the US and with the debacle that's going on right now - it's going to get a lot more lucid.

The S&L bailout didn't spell the demise of the US. We forked over approx. 120 billion for that one... this one is only a few more billion.

With the volatility and pace of news events lately the charts don't have the impact they normally do.

Mike
Finally somebody is making some cents.
  • #32,442
  • Sep 20, 2008 5:10pm Sep 20, 2008 5:10pm
Quoting acumen
Stop blowing up the thread with those charts.

Additionally - we don't care about your P/L.

I like you analysis... but reduce the pic size.

Thanks.

m
See, see, i'm not the only bitmap spammer!
  • #32,443
  • Sep 20, 2008 5:13pm Sep 20, 2008 5:13pm
I don't pretend to know where it's gong long term, but in Bemac's chart,
couldn't this current action also be seen a period of consolodation eventually creating a right shoulder in a giant H&S formation.

The left shoulder was formed from November to February, then the double top head, and now we could be forming the right shoulder.

It's still too early to call.
I guesss we all see something different and I may be projecting my bias.

Jim
  • #32,444
  • Sep 20, 2008 5:14pm Sep 20, 2008 5:14pm
Quoting Foreyes
I don't pretend to know where it's gong long term, but in Bemac's chart,
couldn't this current action also be seen a period of consolodation eventually creating a right shoulder in a giant H&S formation.

The left shoulder was formed from November to February, then the double top head, and now we could be forming the right shoulder.

It's still too early to call.
I guesss we all see something different and I may be projecting my bias.

Jim
  • #32,445
  • Sep 20, 2008 5:23pm Sep 20, 2008 5:23pm
Quoting Foreyes
It's still too early to call.
I guesss we all see something different and I may be projecting my bias.

Jim
I am not much on H&S, Cup and Handle type patterns so I couldn't say.

But I admire your saying you might be biased. So many don't realize that although there is nothing wrong with having an opinion and basing a trade on that and other factors. Then if their opinion is wrong to get the hell out of the trade. We all have biases and opinions but to use that as a starting point how to trade is dead wrong.

I see that is not the case with you.
  • #32,446
  • Sep 20, 2008 5:25pm Sep 20, 2008 5:25pm
Quoting fxterrapin
Good luck. You'll need it.
Thank you for the contribution.
Presently it is simply opinion but, before the year ends, {unless you wake up} I will be depositing Your money in My account
  • #32,447
  • Sep 20, 2008 5:33pm Sep 20, 2008 5:33pm
Here is another chart just with colorful lines. This time on 5m basis. Gee it was only resistance once, but support at each turn. Granted the 2nd support level wasn't as clean as I would like either, but you use a trigger besides "a line in the sand" being there.
Attached Image (click to enlarge)
Click to Enlarge Name: EU5min.PNG Size: 32 KB
  • #32,448
  • Sep 20, 2008 5:48pm Sep 20, 2008 5:48pm
Thanks Sun,
-for the kind words and understanding.

My trading style is too short term to wait for a "possible" H&S of that size to play out.

I use patterns only as a form of conformation to Fib studies, TL's and PP's.

I've done quite well for the past three years, but in the past two + months I've been making pips and then giving them right back. THis has been happening over and over again. I thought it was a temporary condition.

"Something" has changed and its taking me some time to adjust.
I've got to break some habit that seems to have developed.

I suspect I may be over trading---something I never used to do.

Jim
  • #32,449
  • Sep 20, 2008 5:53pm Sep 20, 2008 5:53pm
Quoting SunTrader
Here is another chart just with colorful lines. This time on 5m basis. Gee it was only resistance once, but support at each turn. Granted the 2nd support level wasn't as clean as I would like either, but you use a trigger besides "a line in the sand" being there.
I have better colourful lines
Check this out
Funny thing is that they really works.
Im in shock.
All these lines was drawn a few weeks ago.
Interesting. Isnt it ?

Next yellow circle is projected target and located in time
Attached Image(s) (click to enlarge)
Click to Enlarge Name: snapshot2.png Size: 48 KB
Click to Enlarge Name: snapshot4.png Size: 41 KB
  • #32,450
  • Sep 20, 2008 6:01pm Sep 20, 2008 6:01pm
Quoting 5ysfx
I have better colourful lines
Check this out
Funny thing is that they really works.
Im in shock.
All these lines was drawn a few weeks ago.
Interesting. Isnt it ?

Next yellow circle is projected target and located in time
I've drawn a few like that too but putting long hours sometimes in front of a pc makes it tough on the :nerd:. Hard to see price sometimes, and we don't want that to happen. Gann is just one of many price and time tools I use. To each his own.
  • #32,451
  • Sep 20, 2008 6:11pm Sep 20, 2008 6:11pm
Quoting SunTrader
I've drawn a few like that too but putting long hours sometimes in front of a pc makes it tough on the :nerd:. Hard to see price sometimes, and we don't want that to happen. Gann is just one of many price and time tools I use. To each his own.
Well its accurate sometimes to the one pip,
Check this chart.
These are same lines on lower TF .
Amazing...
Just tell me what is that if u know because i have no idea.
Attached Image (click to enlarge)
Click to Enlarge Name: snapshot7.png Size: 27 KB
  • #32,452
  • Sep 20, 2008 6:45pm Sep 20, 2008 6:45pm
Quoting fxterrapin
See, see, i'm not the only bitmap spammer!
That's funny.

  • #32,453
  • Sep 20, 2008 6:46pm Sep 20, 2008 6:46pm
Quoting 5ysfx
Just tell me what is that if u know because i have no idea.

Don't understand the question. What is what?
  • #32,454
  • Sep 20, 2008 6:56pm Sep 20, 2008 6:56pm
Quoting SunTrader

Don't understand the question. What is what?
Why does price respect these lines so precisely ?
What are these line anyway ?
  • #32,455
  • Sep 20, 2008 8:00pm Sep 20, 2008 8:00pm
Quoting 5ysfx
Why does price respect these lines so precisely ?
What are these line anyway ?

Quoting SunTrader
colorful Gann lines
Some more (basic) info on Gann theories:

http://home1.gte.net/simres/e1-gann.htm

http://www.day-trading-strategy.com/gann-trading.html

A tougher article:

http://www.cycletrader.com.au/cycles.htm

Short excerpt for the global idea:

Quote
The Gann Trading Theory is based on the fact that specific geometric price patterns and angles have special properties that can be used to predict future prices.
  • #32,456
  • Sep 20, 2008 8:02pm Sep 20, 2008 8:02pm
As has been discussed to the limit over the last Week or so; Fundementals have only a mixed minimal {immediate} effect on price.
More important is the opinion of Global Currency Controllers which; obviously; controlled the markets over that same period.
This is not new. It has been ongoing for as long as I have Traded.
They Steer, then Drive. Our objective is to be in the same lane.

Question: Should you...
A) Trade Fundamentals on Release
B) Follow the movement of Bid/Ask to place your Trades?

Please turn to page 1,554 for the correct answer. (B)
  • #32,457
  • Sep 20, 2008 9:34pm Sep 20, 2008 9:34pm
Quoting 5ysfx
Well its accurate sometimes to the one pip,
Check this chart.
These are same lines on lower TF .
Amazing...
Just tell me what is that if u know because i have no idea.
CAn you tell me how you draw the lines you do? Is it a combination fo Gann lines and trend lines?
  • #32,458
  • Sep 20, 2008 10:01pm Sep 20, 2008 10:01pm
Quoting Bemac
Thank you for the contribution.
Presently it is simply opinion but, before the year ends, {unless you wake up} I will be depositing Your money in My account
You go girl!
  • #32,459
  • Sep 20, 2008 11:41pm Sep 20, 2008 11:41pm
Hello Traders

Food for thought on Dollar strength/retreat.

http://www.bloomberg.com/apps/news?p..._UM&refer=home
  • #32,460
  • Sep 20, 2008 11:43pm Sep 20, 2008 11:43pm
is it just me, or did this week's volatility mess you up too?

i hope this new high ATR is a temporary thing.... my stops are too close to my entries for this kind of nonsense....
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