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  • #33,941
  • Sep 25, 2008 2:09am Sep 25, 2008 2:09am
Spread the trendline from the daily/4hr chart and you can see that that price has break the trendline from the 4hr chart and looking at the 1hr chart price could head up to 1.4837 weekly R2. I am setting my stops and letting my profits run. Lets see where price could go.
Forex Price Action Hacked - Price Action Rockstar
  • #33,942
  • Sep 25, 2008 2:15am Sep 25, 2008 2:15am
as i postd yesterday,i took short position yesterday in a short term sense,long term,i think its going up.so my bias today would be on the bull train.wanna let it run until at least somewhere around 4860..might be wrong tho
  • #33,943
  • Sep 25, 2008 2:22am Sep 25, 2008 2:22am
I think short, target 1,465x - 1,46
  • #33,944
  • Sep 25, 2008 2:34am Sep 25, 2008 2:34am
Quoting david_akc
Spread the trendline from the daily/4hr chart and you can see that that price has break the trendline from the 4hr chart and looking at the 1hr chart price could head up to 1.4837 weekly R2. I am setting my stops and letting my profits run. Lets see where price could go.

Regarding daily...the 50MA has proven to be tough to break: price has been pushing up against that with a couple of false breaks for the past 3 days. That also coincides with the 38.2 retrace of the downtrend from 1,6037. Just food for thought...
  • #33,945
  • Sep 25, 2008 2:51am Sep 25, 2008 2:51am
wonder how the data is going to print......been shorting since the last break of 4750
--post hoc ergo propter hoc--
  • #33,946
  • Sep 25, 2008 3:17am Sep 25, 2008 3:17am
Quoting Algirdas
Retresmant always heapens 2,3 times per 24h, and you can trade Intraday against main Trande it's not problem.But for now I really dont know how big it will be. Some traiders toalking about 1.4721 at Asian-Euro sesion.
When I'll be suare,,,,,,,,,I'll let you know.
Thees days will be high Volatility. It effect our trading.
President Bush indicated he's willing to work with members of Congress on a bailout plan, but he also put them in a tough spot.
He called on Congress to pass the administration's rescue plan for Wall Street, which would leave taxpayers on the hook for up to $700 billion--just before Election Day. I do BUY EUR/USD.
{Promotion Removed}
  • #33,947
  • Sep 25, 2008 3:42am Sep 25, 2008 3:42am
Anyone sees on the 5min and 30min a-going-to-show head and shoulders?
On 5min I see it at 05:00-07:00-(09:00 I think) GMT.
On 30min I see it at 02:00-07:00-(12:00 I think) GMT.

Anyone is with me?
  • #33,948
  • Sep 25, 2008 3:59am Sep 25, 2008 3:59am
This pair doesn't move!!!!!
  • #33,949
  • Sep 25, 2008 4:04am Sep 25, 2008 4:04am
Quoting bigalex
Anyone sees on the 5min and 30min a-going-to-show head and shoulders?
On 5min I see it at 05:00-07:00-(09:00 I think) GMT.
On 30min I see it at 02:00-07:00-(12:00 I think) GMT.

Anyone is with me?

I'm with You
  • #33,950
  • Sep 25, 2008 4:10am Sep 25, 2008 4:10am
Anyone sees it now the peak?
  • #33,951
  • Sep 25, 2008 4:17am Sep 25, 2008 4:17am
lol...
u guys/girls...are too nervous... just chill.... i've seen it...

after the news...a spike will arise! lol

i'll keep my mind clean by watchin' my new p*rn movie... see'ya later..
  • #33,952
  • Sep 25, 2008 4:18am Sep 25, 2008 4:18am
Quoting bigalex
Anyone sees on the 5min and 30min a-going-to-show head and shoulders?
when price is ranging thru a 30-60 pip channel for hours, you're going to see all kinds of things.

an h&s is a reversal pattern. For price to reverse, it has to have gone up or down some reasonable amount in one direction for some length of time. Bouncing back and forth between channel walls is not reversal, it's normal ranging price action. I'm short, have been since the mid 48xx's, stopped out, reentered on rallies and still short from the high and mid 47xx's.

If you want to trade so called "reversal patterns" on a 5m chart, you'll get 5m chart gains, or losses, except in the event that your entry coincides with a move that happens to continue on. that probably happens less often rather than more.

those 5m charts will eat you up eventually, unless you have a very sound strategy that uses them. I scalp on a 2m, 3m, and 20m chart all the time, have been all nite, and currently up a'rd 185 pips on eu and ej due to those great opening spikes. I don't try to spot "reversal patterns" on them tho.

So to answer your question, I'm short, but not becuz of some pattern on a 5m chart.

additional note: i tried to see what you were looking at, and all i could come up with was a pre-frankie/london move up coinciding with a probable runup becuz of news. that likely created your "head", and price has essentially settled back into it's range for the evening, until NY and US news comes online. So why would you enter short (or long) at the bottom or middle of that range...? you'll get stuck trying to pinch a couple pips with no momentum. you'd be better off finding a channel trading strategy that identifies the highs and lows for your entries and exits in this kind of PA. just my 1.618 pips...
FUBAR...
  • #33,953
  • Sep 25, 2008 4:20am Sep 25, 2008 4:20am
EUR-USD Current fall seems to be over near 1.4616 or 1.4572 for a rebound towards 1.4659 - 1.4684 area.
  • #33,954
  • Sep 25, 2008 4:34am Sep 25, 2008 4:34am
thats it for me, final tp hit (finally!). open trades remaining are what's left of shorts that I scaled out of. sl's set to +10 and trailing stops to wherever they get hit. g'nite and trade careful
FUBAR...
  • #33,955
  • Sep 25, 2008 4:39am Sep 25, 2008 4:39am
Quoting njmorais
lol...
u guys/girls...are too nervous... just chill.... i've seen it...

after the news...a spike will arise! lol

i'll keep my mind clean by watchin' my new p*rn movie... see'ya later..
Won't that just make u more tired rather than clearing up your mind j/k
  • #33,956
  • Sep 25, 2008 4:55am Sep 25, 2008 4:55am
Quoting ak4x
i tried to see what you were looking at, and all i could come up with was a pre-frankie/london move up coinciding with a probable runup becuz of news. that likely created your "head", and price has essentially settled back into it's range for the evening, until NY and US news comes online. So why would you enter short (or long) at the bottom or middle of that range...? you'll get stuck trying to pinch a couple pips with no momentum. you'd be better off finding a channel trading strategy that identifies the highs and lows for your entries and exits in this kind of PA. just my 1.618 pips...
Thank you for your suggestion and your time
I am new and that's why I try to learn as more as possible through your and other interesting posts in this forum.

Thank you!
  • #33,957
  • Sep 25, 2008 5:08am Sep 25, 2008 5:08am
anybody has a long position here?
  • #33,958
  • Sep 25, 2008 5:12am Sep 25, 2008 5:12am
Quoting zeus_ares86
anybody has a long position here?
Yes....

Been playing longs off the broken UTL acting-as-support on M15 all day so far. Daily R1 as TP. We've been in that range outside of news spike earlier.

Will close all ahead of US news
  • #33,959
  • Sep 25, 2008 5:16am Sep 25, 2008 5:16am
Congressman Ron Paul Schools Bernanke on the Bailout Plan

Inserted Video
  • #33,960
  • Sep 25, 2008 5:18am Sep 25, 2008 5:18am
Quoting efgsrl
Yes....

Been playing longs off the broken UTL acting-as-support on M15 all day so far. Daily R1 as TP. We've been in that range outside of news spike earlier.

Will close all ahead of US news
i dont think that support is likely to hold 'till the news, we might be around 1.4600 by the news time..
I recommend you read something else as this sentence is now concluded.
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