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EURUSD

  • #33,441
  • Sep 23, 2008 8:55pm Sep 23, 2008 8:55pm
I hope it was a long
  • #33,442
  • Sep 23, 2008 8:56pm Sep 23, 2008 8:56pm
Quoting GJ_Trader
we might move from here

i'm in at 1.4668 and hold it up to 1.4830 as long as not fail below 1.4618
supposed to be
Trade at your own Risk
  • #33,443
  • Sep 23, 2008 9:13pm Sep 23, 2008 9:13pm
Quoting bigalex
What the hell happened few minutes ago??
that news about Buffet buying 5 billion stake on Goldman Sachs
  • #33,444
  • Sep 23, 2008 9:15pm Sep 23, 2008 9:15pm
Quoting iiivb
that news about Buffet buying 5 billion stake on Goldman Sachs
The Old man must be getting senile
  • #33,445
  • Sep 23, 2008 9:16pm Sep 23, 2008 9:16pm
from trendline to trendline like 5 days ago
boring but profitable
  • #33,446
  • Sep 23, 2008 9:20pm Sep 23, 2008 9:20pm
Tomorrow is going to be an very interesting day. I think the Dow will be slaughtered tomorrow and the USD will fall like an apple from a tree.
FBI investigation on all financial institutions including Fannie mae and Freddie Mac. Huhh that's going to be interesting.

  • #33,447
  • Sep 23, 2008 9:25pm Sep 23, 2008 9:25pm
Quoting iiivb
that news about Buffet buying 5 billion stake on Goldman Sachs
i dont think so

i thinkl bigalex meant the action where happend on 9:45pm EST (Warren news released 6:10pm EST)

"Chaina consumer confidence fell to a fresh record low in Sept".. this is the subject!
Trade at your own Risk
  • #33,448
  • Sep 23, 2008 9:59pm Sep 23, 2008 9:59pm
Looking at the M15 over the last couple of hours, isn't that a bullish flag, which would tend to indicate an impending move upward?

Hope not since I'm holding shorts.

Edit: However, if you look at support and resistance levels since about 1300gmt today, it appears to be headed south. Suntrader, are you watching?

Edit2: Flag looks even clearer on M5 chart.
Up or down, gimme a ticket
  • #33,449
  • Sep 23, 2008 10:00pm Sep 23, 2008 10:00pm
Quoting iiivb
that news about Buffet buying 5 billion stake on Goldman Sachs
That news was out before 6:00pm EST. S&P500 futures gapped up on night session 10 pts ran another 10 pts higher and now is up +16.75
  • #33,450
  • Sep 23, 2008 10:08pm Sep 23, 2008 10:08pm
Quoting SpecialEd
Looking at the M15 over the last couple of hours, isn't that a bullish flag, which would tend to indicate an impending move upward?

Hope not since I'm holding shorts.

Edit: However, if you look at support and resistance levels since about 1300gmt today, it appears to be headed south. Suntrader, are you watching?
I too am short. The 30 min is showing a symmetrical triangle.
Trend has been down today and we are still below the daily PP.
It would seem to indicate that a breakout south is more likely.

No guarantees---

Jim
  • #33,451
  • Sep 23, 2008 10:14pm Sep 23, 2008 10:14pm
Quoting Foreyes
I too am short. The 30 min is showing a symmetrical triangle.
Trend has been down today and we are still below the daily PP.
It would seem to indicate that a breakout south is more likely.

No guarantees---

Jim
Yeah, I see what you're talking to. Recalling a website about chart patterns that someone posted today, I went to it and got this http://www.chartpatterns.com/symmetricaltriangles.htm.

Hope we're seeing what we think we're seeing. I bet it breaks somewhere between 0400 and 0430gmt. Thanks Jim.
Up or down, gimme a ticket
  • #33,452
  • Sep 23, 2008 10:17pm Sep 23, 2008 10:17pm
i am tracking this
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 8 KB
  • #33,453
  • Sep 23, 2008 10:18pm Sep 23, 2008 10:18pm
Hi Ed,

Looks like we're in this together.
I'm a bit concerned, but its still holding the upper border of the TL.

Fingers crossed.
  • #33,454
  • Sep 23, 2008 10:21pm Sep 23, 2008 10:21pm
Quoting Dl1982
I have a quick question and sorry if it's stupid. What does the M1, M2 etc stand for?
Sorry it took so long to get back to your question. Took the evening off.

1. Not a stupid question. Questions like that make this forum stuff worthwhile.

2. A couple people already answered correctly, but to clarify... yes on the daily picture they are simply the mid points between the main pivots. S is Support below the DP or PP (same thing) and R is Resistance, above the the DP.

On a Monthly basis, yes you can use the "M" or "W" in front of the S or R to denote Monthly/Weekly and not cause confusion like MR1, WS1 and so on.

On EU, when there's a wide range between the Daily and the opening price, I find the mid point between the Daily and the CP or Central Pivot (the opening price at 5pm) to often be a valid level to be aware of. I always try to include that Central Pivot on the pivots screenshot if I post them.

Hope this helps. Play with them and see if they work for you. I think Acumen has some stuff on his site that may help as well.

Chart below shows why I like EJ over EU in these conditions, identical time frames from session open at 5pm, same targets and entries, but many more pips.

Life between the BB's and pivots is good when it's ranging.
Attached Image
FUBAR...
  • #33,455
  • Sep 23, 2008 10:21pm Sep 23, 2008 10:21pm
Quoting forexlion
i am tracking this
I like yours better than mine. I've got a short from 4633 from 1753gmt today and another from 4660 executed tonight. I usually never take more than 1 open position at a time, and that has served me well, but I got frustrated and acted emotionally. I think they can both clear; barring a massive breakout north. Need to get 'em closed before the news tomorrow though.

Thanks
Up or down, gimme a ticket
  • #33,456
  • Sep 23, 2008 10:26pm Sep 23, 2008 10:26pm
Quoting SpecialEd
I like yours better than mine. I've got a short from 4633 from 1753gmt today and another from 4660 executed tonight. I usually never take more than 1 open position at a time, and that has served me well, but I got frustrated and acted emotionally. I think they can both clear; barring a massive breakout north. Need to get 'em closed before the news tomorrow though.

Thanks
its a reversal tracker as can be seen on this 1 min chart.

my daily short target is 1.4562
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 7 KB
  • #33,457
  • Sep 23, 2008 10:28pm Sep 23, 2008 10:28pm
Am I the only one that gets SR lines purely from marking points on the line chart in the 4H/1D/1WK/1MN timeframes? Getting the impression I should just abandon this and learn the more official ways as a priority.
  • #33,458
  • Sep 23, 2008 10:30pm Sep 23, 2008 10:30pm
but I hope you are all wrong right now....

long from 1.4688

  • #33,459
  • Sep 23, 2008 10:32pm Sep 23, 2008 10:32pm
Quoting sentinel
but I hope you are all wrong right now....

long from 1.4688

Brave Man
  • #33,460
  • Sep 23, 2008 10:35pm Sep 23, 2008 10:35pm
Quoting forexlion
Brave Man
No, other words to better describe it....

dumb....stupid..... clueless......
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