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  • #34,381
  • Sep 25, 2008 8:22pm Sep 25, 2008 8:22pm
Quoting acumen
Wait until the next newbie posts something stupid... I'm all over him.

Long EUR. TP 1.60. Timeframe 3 hours.
  • #34,382
  • Sep 25, 2008 8:24pm Sep 25, 2008 8:24pm
Quoting jeeper
Bernanke was bad mouthing everyone, including the pres. Friggin circus.
Can someone recommend a decent country to live in. Maybe something tropical. This one is run by idiots.
where did you see that? What did Bernanke say exactly?
  • #34,383
  • Sep 25, 2008 8:25pm Sep 25, 2008 8:25pm
Quoting seesaw
Long EUR. TP 1.60. Timeframe 3 hours.
You guys make me laugh.

  • #34,384
  • Sep 25, 2008 8:25pm Sep 25, 2008 8:25pm
I am kinda thinking when it breaks out of your triangle it will be a rebel. It will head south. But, it could be a yankee and go north. Oh what the hell it will probably continue sideways, at least until we can get those ignorant lawmakers to finalize some stuff for the debates. LOL
  • #34,385
  • Sep 25, 2008 8:27pm Sep 25, 2008 8:27pm
Quoting Gofer Pips
You go dog! But isn't the 5min chart an eternity for you?
I love the 1M but:
Before you want to be a scalper you need to know where the trend is going too, that's essential, you know that, right?
So it's nothing new to me, but I thought I'm gonna post something.

BTW: Nice words Mike, I knew you are a good guy, but don't get too soft, you bring the pepper in this soup.
  • #34,386
  • Sep 25, 2008 8:29pm Sep 25, 2008 8:29pm
Quoting acumen
The other day I slammed a trader (Forexlion) that said he was up 500 PIPS in one day.

I called bullshit and most of the time I'd make that same call.

I logged in the yesterday and noticed Forexlion had vouched for me under the 1kt trader status. (This is like saying - I believe that trader X has placed 1000 trades and has some clue what's going on)

I thought this guy must have hit his head so I PM'd him and asked why he would vouch for me after I tore him up on the thread.

His response:

"Mike - I vouch for a person based on his skills and abilities, not based on whether i like him or not."

He didn't hit his head - he's just a more mature person than I am.

He was able to divorce himself from the emotion of my posts and make a decision that had nothing to do with how he felt. His actions let me know I have much to learn and that his trading skills probably exceed mine... which really hurts to say.

So - I apologize for my harsh words. I was wrong. As a trader I'm not wrong often. Now - if I could only cross my skills as a trader into my life I'd be a much better person.

Additionally, he was kind enough to show me how he trades and his MM - which is very smart.
Dam!!!!...what a post.

Thanks for helping me feel I'm among warriors braving the challenge of forex Acumen and not just greedy speculators...like me.
  • #34,387
  • Edited 8:42pm Sep 25, 2008 8:31pm | Edited 8:42pm
I normally like to post at least a 2hr chart at minimum, but as price has flattened out a lot over the last few days, this 1 hr chart may be of some use should price get up to these levels later on.

The green horizontal line is simply my daily open price at 5pm EST. The fib is the most recent completed 1hr swing cycle.

The lower yellow bear TL is a long term thing from Monday's HIGH. Red dotted is TL from the CLOSE, and the upper Yellow dotted from the HIGHS. Shaded ellipse #2 is current price which has converged at the the two TL's and the 50% FIB RETRACE.

Of more interest if price goes higher is the shaded ellipse #1. That is a strong convergence zone of the Upper BB, M3 daily pivot, 62% retrace, and the TL from the previous HIGHS of this 1hr price cycle. If you're bullish, at least know what lies just above...

The good news is these Resistance levels are not far away, and a clear break should signal a solid direction at some point. The flip side of that, is that a good headfake could send you the wrong way if you're too fast on the draw. I would expect that to happen a'rd the Frankenstein open as usual.

In this case, I have no idea as to real mid term direction except that I'm expecting (but NOT trading) a hit on M3 later on, "just becuz it's there". Most indicators tend to send confusing signals after price has ranged for awhile, and mine are all split 50/50 up or down depending on the TF. S/R levels are far more useful at this point. Price is where it is, and anything could happen from here, imo.

Hope this helps.
Attached Image
FUBAR...
  • #34,388
  • Sep 25, 2008 8:33pm Sep 25, 2008 8:33pm
Okay we have a triangle, 3 sixes and its time to look for good entry on a short. I'm thinking no later than .4700 no earlier than .4680-90. What you guys think. Retrace from today high to low is .4689. Last highest to last lowest retrace is 38.2% at .4705. seems that the 38.2 has not been breached for too long this week before retreating. Feedback please.
  • #34,389
  • Sep 25, 2008 8:36pm Sep 25, 2008 8:36pm
target this fibo near purple TL

ETA London close
Attached Image (click to enlarge)
Click to Enlarge Name: snapshot7.png Size: 39 KB
  • #34,390
  • Sep 25, 2008 8:37pm Sep 25, 2008 8:37pm
Quoting 5ysfx
sooner or later will fall down
i give her 3 hours max
It may fall first but there is no doubt in my mind that it will test the 47 level again as well--particularly given the uncertainty on the bail out.
  • #34,391
  • Sep 25, 2008 8:38pm Sep 25, 2008 8:38pm
Quoting 5ysfx
target this fibo near purple TL

ETA London close
A very distinct possibility! The way it's been the last few days it could even track lower.
  • #34,392
  • Sep 25, 2008 8:41pm Sep 25, 2008 8:41pm
Quoting altrader
It may fall first but there is no doubt in my mind that it will test the 47 level again as well--particularly given the uncertainty on the bail out.
.4700 is only 33 pips away, and as psiholog would say, my thoughts tell me the last 10 loooong hours of climb has it set up for a quick fall. But I, like you, will trade what I see.
  • #34,393
  • Sep 25, 2008 8:43pm Sep 25, 2008 8:43pm
I guess I need to start drinking some coffee, the Meyer's rum is making me quite verbose. The cool thing is, I'm the only one that is posting every 9 milliseconds
  • #34,394
  • Sep 25, 2008 8:48pm Sep 25, 2008 8:48pm
Quoting Gofer Pips
.4700 is only 33 pips away, and as psiholog would say, my thoughts tell me the last 10 loooong hours of climb has it set up for a quick fall. But I, like you, will trade what I see.
Yeah true. I mean no one knows exactly what is going to happen but yeah just got to trade what we see on the chart.
  • #34,395
  • Sep 25, 2008 8:52pm Sep 25, 2008 8:52pm
they've talked about it but haven't replayed it.

Quoting altrader
where did you see that? What did Bernanke say exactly?
" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #34,396
  • Sep 25, 2008 8:57pm Sep 25, 2008 8:57pm
Quoting Poocher
Dam!!!!...what a post.

Thanks for helping me feel I'm among warriors braving the challenge of forex Acumen and not just greedy speculators...like me.

What's the purpose of 1KT? The idea was to have one forum where only experienced traders could post, and 1KT was the system used to regulate which members had posting privileges. The forum, which was called the “Trading Room,” was disabled in August 2008 due to low activity. Therefore, the 1KT system has no purpose at this time. The 1KT system remains live as we’re working to retool it for a different purpose.

HAHAHAHA....closed for lack of posts....
--post hoc ergo propter hoc--
  • #34,397
  • Sep 25, 2008 9:00pm Sep 25, 2008 9:00pm
Quoting Algirdas
http://4.bp.blogspot.com/_nmIuQsC9b-...R_USD+Spot.png
When price will reach 1.4700 Close 1/4 for 100pips, but do not close 1/4 Longs since 1.4600, just move Stops to 50 pips Profit. Same time we'll be looking to Sell near 1.4700. We'll do some small headgin in case price will go much more North.
Later I'll explain how we'll do profit from bouth Entries
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  • #34,398
  • Sep 25, 2008 9:00pm Sep 25, 2008 9:00pm
I've attached another pic on why I think it will test the 4700 level.

edit: something weird happened to that pic and the numbers are not visible

But I think you guys can see on the chart where this is and know what I'm trying to say.

edit 2: i uploaded a second pic so you can see the numbers on the right.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: headshoulders2.JPG Size: 183 KB
  • #34,399
  • Sep 25, 2008 9:10pm Sep 25, 2008 9:10pm
1h GANN,CCI,and QQE have all been pointing north for 3hrs. I have 2 pips! LOL
Attached Image (click to enlarge)
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" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #34,400
  • Sep 25, 2008 9:19pm Sep 25, 2008 9:19pm
breakout attmpt on yen index
yen crosses will tank today and eur/jpy will drag eur/usd as well

tip buy euraud should fly today
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