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  • #32,941
  • Sep 22, 2008 5:55pm Sep 22, 2008 5:55pm
Indicators will fail you in this current market, a lot of psyc going on with "flight to safety" and such.

If you wanted on indicators to pull back for entry today you lost out on ~200 pip move all without much of a pullback at all.

Dollar is losing strength against all curriences and I expect that to continue for a week or two.

Eur at 1.5 if not more by weeks end if not eariler.
  • #32,942
  • Sep 22, 2008 6:00pm Sep 22, 2008 6:00pm
There is a pivot bar on the 15 Min. Should continue on up to 1.4860
  • #32,943
  • Sep 22, 2008 6:11pm Sep 22, 2008 6:11pm
So the trend is not descending? I thought the support was been broken!
  • #32,944
  • Sep 22, 2008 6:16pm Sep 22, 2008 6:16pm
I´m getting anxious as I´m expecting to reach the 1,48200 but it´s being long before the Euro reaches that point… I hope it won´t be long
  • #32,945
  • Sep 22, 2008 6:19pm Sep 22, 2008 6:19pm
We have already broken the 38 % Fib and next target should be 1.4960 area, which is the 50 % Fib level. This of course is a Daily call. What I am saying that it should test the last high on the smaller T/F in the near future.

Jim

Quoting bigalex
So the trend is not descending? I thought the support was been broken!
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  • #32,946
  • Sep 22, 2008 6:22pm Sep 22, 2008 6:22pm
Quoting Marcuse
I hope we reachthat figures before midnigth, I put my bet on it....
Marcus
http://tradingforextips-marcuse.blogspot.com/
its not midnight yet
  • #32,947
  • Sep 22, 2008 6:32pm Sep 22, 2008 6:32pm
Quoting Pipin8easy
its not midnight yet
It is in the UK where he is at.
  • #32,948
  • Sep 22, 2008 6:33pm Sep 22, 2008 6:33pm
should drop soon
perfect setup for short on 5 min chart
stochastic in bear zone
momentum in bear side
price didnt move up for 2 hours

1st target 147 if will break then 2nd is between 14550-1460 area
  • #32,949
  • Sep 22, 2008 6:35pm Sep 22, 2008 6:35pm
Quoting SunTrader
It is in the UK where he is at.
boo sorry there is usually not that much movement till asian opens so i figured he was going off New York sorry
  • #32,950
  • Sep 22, 2008 6:37pm Sep 22, 2008 6:37pm
Quoting 5ysfx
should drop soon
perfect setup for short on 5 min chart
stochastic in bear zone
momentum in bear side
price didnt move up for 2 hours

1st target 147 if will break then 2nd is between 14550-1460 area

I could argue the same points to say it is going up first. No movement last two hours after a mad move up. tried to go down and lost momentum. We shall see lol
  • #32,951
  • Sep 22, 2008 6:41pm Sep 22, 2008 6:41pm
im not going to short it but it will prob test 4715 then jumpstart the trend long.
USD Est Non Mortuus
  • #32,952
  • Sep 22, 2008 6:42pm Sep 22, 2008 6:42pm
Quoting Pipin8easy
boo sorry there is usually not that much movement till asian opens so i figured he was going off New York sorry
He might be, just saying his profile says UK.
  • #32,953
  • Sep 22, 2008 6:44pm Sep 22, 2008 6:44pm
Quoting steelhead
I could argue the same points to say it is going up first. No movement last two hours after a mad move up. tried to go down and lost momentum. We shall see lol
yeah
u could be right too lol

so first 14850 strike then fail and change direction to south temporary
  • #32,954
  • Sep 22, 2008 6:51pm Sep 22, 2008 6:51pm
I used to think I could predict 100 pip moves off the 5 min chart and blew out an account. Please be careful as it will never work with consistancy.
  • #32,955
  • Sep 22, 2008 7:04pm Sep 22, 2008 7:04pm
Please don't take my comments the wrong way, I just want to keep someone new from making the same mistakes I did.

Jim
  • #32,956
  • Sep 22, 2008 7:08pm Sep 22, 2008 7:08pm
If you want to always know where the trend of the moment is, take a 15 Min chart and put an 89 smooth close on it and only look at long trades when price is above it with stop below it and short trades when the price is below it and stop is above it. Stay away if it is consolidating up and down around it. Trust me, your trading will improve immensly. Stay out of counters.

Jim
  • #32,957
  • Sep 22, 2008 7:14pm Sep 22, 2008 7:14pm
Price will go to 4860 area and retrace to DPP, or price will break 4860 and go to 50 % Fib from daily chart which is .4960 area and is my bet.
  • #32,958
  • Sep 22, 2008 7:24pm Sep 22, 2008 7:24pm
Quoting hard1head1
There is a pivot bar on the 15 Min. Should continue on up to 1.4860
Hi,would you explain this concept or point me to some info,thanks
  • #32,959
  • Sep 22, 2008 7:32pm Sep 22, 2008 7:32pm
Quoting hard1head1
Price will go to 4860 area and retrace to DPP, or price will break 4860 and go to 50 % Fib from daily chart which is .4960 area and is my bet.
As i said it was 5 min chart setup
at 30 min chart short is far away yet
but at 15 min is getting closer(momentum) to complete my scenario

all 3 targets line up with my "k-map" system, elliot wave theory and fibonnaci levels.
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  • #32,960
  • Sep 22, 2008 7:33pm Sep 22, 2008 7:33pm
Quoting 5ysfx
should drop soon
perfect setup for short on 5 min chart
stochastic in bear zone
momentum in bear side
price didnt move up for 2 hours

1st target 147 if will break then 2nd is between 14550-1460 area
You get M5 setup and call for a 300 pips slump. M5 setup -> M5 trade. Euro will go down 300 pips in 5 minutes only if a video footage of Trichet in lingerie carrying a sign "WILL CUT RATES FOR SEX" hits youtube.
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