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  • #32,601
  • Sep 21, 2008 9:19pm Sep 21, 2008 9:19pm
Quoting Jay Walker
LOL

Sell a kidney
Good suggestion, I can sell a kidney if i got from....
My question is still there, why you all people are long? only on news?
  • #32,602
  • Sep 21, 2008 9:24pm Sep 21, 2008 9:24pm
Quoting 786 trading
Good suggestion, I can sell a kidney if i got from....
My question is still there, why you all people are long? only on news?
but this thing's been going up since 1.3882 on 9/11/08. No good USD news to speak of, and there is not a lot of resistance between here and R1 - 1.4594; although ak4x's recent post could be correct and it could cut short by 20 pips or so.

Only speculation based on what I see. I'm American; proud of it, but my two cents ain't worth two cents.
Up or down, gimme a ticket
  • #32,603
  • Sep 21, 2008 9:24pm Sep 21, 2008 9:24pm
Quoting 786 trading
Hi Guys ,

I am short at 1.4537 and in red now.
I did based on stochastic . it is oversold. On what basis you guys are looking for long? please guide me I am learning it.
Oversold/overbought can both get more oversold/overbought before an actual reversal happens. You need to have more confirmation than just an indicator reading.

Previous support/resistance levels & fib retracements/projections as just two of many other factors to look for.
  • #32,604
  • Sep 21, 2008 9:24pm Sep 21, 2008 9:24pm
Quoting 786 trading
Good suggestion, I can sell a kidney if i got from....
My question is still there, why you all people are long? only on news?
as i said to my friend considering buying lehman "well it cant get much lower can it?!"
  • #32,605
  • Sep 21, 2008 9:25pm Sep 21, 2008 9:25pm
Quoting 786 trading
Good suggestion, I can sell a kidney if i got from....
My question is still there, why you all people are long? only on news?
I'm long because of my technical analysis.

I use Parabolic SAR. On the 11th, I saw a reversal so I put on an order that got executed and have been in it since.
Not all sins are created equal
  • #32,606
  • Sep 21, 2008 9:25pm Sep 21, 2008 9:25pm
Quoting 786 trading
Good suggestion, I can sell a kidney if i got from....
My question is still there, why you all people are long? only on news?
For me: price action, EW projection for wave 3, we're above pivot line.
Already closed though, waiting for the retracement and Europe, to see if long is still good or we might retrace down to pivot or under.
  • #32,607
  • Sep 21, 2008 9:31pm Sep 21, 2008 9:31pm
i like my reason better. because people far smarter than i said long
  • #32,608
  • Sep 21, 2008 9:34pm Sep 21, 2008 9:34pm
Quoting ballblazer_!
i like my reason better. because people far smarter than i said long
Peter Schiff has been saying long since 2006. But I don't trade that long a time frame.
Not all sins are created equal
  • #32,609
  • Sep 21, 2008 9:35pm Sep 21, 2008 9:35pm
Quoting Jay Walker
Peter Schiff has been saying long since 2006. But I don't trade that long a time frame.
when i was interning at euro pacific, every one there was singing long. but they still got slaughtered >.<

hardest thing to do in the world is explain to a client why theyre down 20% in a month. "uh...market volatility sir!" >.<
  • #32,610
  • Sep 21, 2008 9:39pm Sep 21, 2008 9:39pm
Quoting ballblazer_!
when i was interning at euro pacific, every one there was singing long. but they still got slaughtered >.<

hardest thing to do in the world is explain to a client why theyre down 20% in a month. "uh...market volatility sir!" >.<
That must have been an very interesting internship.

But 20% isn't slaughtered. It's a kick in the teeth but I would have hated to have a portfolio consisting of Fannie, Freddie and Lehman Brothers. That's a slaughter.
Not all sins are created equal
  • #32,611
  • Sep 21, 2008 9:40pm Sep 21, 2008 9:40pm
Doblece, you owe me 40 pips. While I was off in la-la land admiring your awesome fractals on your website, price pooped out 4 pips short of my limit order and then tanked.

Very, very nice work tho I'm a big fan of Ryan Bliss over at DB.
FUBAR...
  • #32,612
  • Sep 21, 2008 9:50pm Sep 21, 2008 9:50pm
i am short @ 4520

targeting below 4400 perhaps 4370

good luck every one
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  • #32,613
  • Sep 21, 2008 9:58pm Sep 21, 2008 9:58pm
Quoting ak4x
I'm a big fan of Ryan Bliss over at DB.
Astounding work indeed. Thanks for the reference, I didn't know him yet.

So bad about your pips... though I think it might be back up soon at least it wasn't because of my probable potential predictions, LOL...

Thanks for the comments and the "pub"
  • #32,614
  • Sep 21, 2008 10:06pm Sep 21, 2008 10:06pm
Quoting doblece
So bad about your pips... though I think it might be back up soon at least it wasn't because of my probable potential predictions, LOL...
No worries bro, but when I manage to miss my own call, I'd just rather blame someone else...

Just scalping the range for now, such as it is. M3 pivot is earning it's label tonite.
FUBAR...
  • #32,615
  • Sep 21, 2008 10:06pm Sep 21, 2008 10:06pm
shorts i would be really careful right now...61.8% for the day(1.4484) has held as a suport for the past 12 minutes....
Different opinions highly valued, ignorant to slander.
  • #32,616
  • Sep 21, 2008 10:14pm Sep 21, 2008 10:14pm
a break of one of those walls suggests direction...i currently still hold a long bias(as shown buy my current long position) but a drop below 1.4475 would make me edgy

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Different opinions highly valued, ignorant to slander.
  • #32,617
  • Edited 10:55pm Sep 21, 2008 10:25pm | Edited 10:55pm
By "range" in previous post, I'm referring to this setup on the 1hr for now, until clearly broken.

The green line is the session open price or Central Pivot of 4489 just 3 pips below the M3, so no validity tonite as it's so close.

Becuz the distance from DP to M3 / Central is a nice wide 114 pips, I put a line at the mid point (4435) and find that price usually likes that area, at least in asia or any period of slower activity. Perfect scalping environment... stiff resistance and alot of downside.
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FUBAR...
  • #32,618
  • Sep 21, 2008 10:45pm Sep 21, 2008 10:45pm
ECB's Stark Sees No Potential For Global Recession - Report

ECB's Stark Sees No Potential For Global Recession - Report

Sun, Sep 21 2008, 12:14 GMT
http://www.djnewswires.com/eu

ECB's Stark Sees No Potential For Global Recession - Report

FRANKFURT (Dow Jones)--The crisis on the international financial markets won't lead to a global recession as the world isn't as much dependent upon the U.S. economy anymore, European Central Bank executive board member Juergen Stark said in an interview published Sunday.

"I don't see any potential for a global recession," Stark told Sunday paper Welt am Sonntag. In addition to being less dependent upon developments for the U.S. economy, the world economy is benefiting from newly established growth drivers in emerging markets, he said.

...more here:
ECB's Stark Sees No Potential For Global Recession - Report
  • #32,619
  • Sep 21, 2008 10:51pm Sep 21, 2008 10:51pm
Quoting SpecialEd
For those of you who watch for play off psych lines and pivots, where would you recommend placing a buy limit assuming the price gets down to 4350-4375 range? I ask because on my chart, I have 4372 as daily pivot, 4362 as 38.2 Fib (from Friday) and then of course 4350 psych.

Thanks,
Ed

Hi Ed

Nice to finally see you on the bull train. How was piping coming along? I hope you were rewarded.
All the best things in life are free.
  • #32,620
  • Sep 21, 2008 10:57pm Sep 21, 2008 10:57pm
Quoting fx_lane
Hi Ed

Nice to finally see you on the bull train. How was piping coming along? I hope you were rewarded.
Hi fx_lane, I never was in a trade on that one. I was just planning ahead, trying to determine the best place for it to turn north, with at least scalping in mind. I've been fairly bullish all night, but that doesn't mean I will be tomorrow.

I've still got a long which I opened at 4521. Thought it might make R1 but at this point, I'd be happy with 4560 or 80, or an opportunity to go to bed. Should have probably given up on this one, but market has turned around a lot lately on wide ranges.
Up or down, gimme a ticket
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