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EURUSD

  • #34,421
  • Sep 26, 2008 12:29am Sep 26, 2008 12:29am
Minimum I see at least touching mid day lows from earlier 1.4560-1.4580 zone.
  • #34,422
  • Sep 26, 2008 12:33am Sep 26, 2008 12:33am
Quoting ak4x
excellent.

Personally speaking, I wish there was a way to cover both pairs on one thread. I'd be up for that. The correlation is too good to pass up most times... and the pips can be obscene. Just sayin.
thats a good idea !!
Money often costs too much...
  • #34,423
  • Sep 26, 2008 12:35am Sep 26, 2008 12:35am
Quoting SunTrader
Minimum I see at least touching mid day lows from earlier 1.4560-1.4580 zone.
got a chart?
--post hoc ergo propter hoc--
  • #34,424
  • Sep 26, 2008 12:37am Sep 26, 2008 12:37am
I'm short at the moment. I could get pwnd during this
  • #34,425
  • Sep 26, 2008 12:39am Sep 26, 2008 12:39am
London will bring this baby UP... no Bailout, US economy in danger, another bank failed (be buy by another one...)



I do not understand why we are not already to 1.80
  • #34,426
  • Sep 26, 2008 12:39am Sep 26, 2008 12:39am
there was an indicator I wanted one time too but couldn't apply it. Even called them to verify it wasn't available for TS. I don't remember what it was though.
Lost interest.
Apparently there is more available than I had thought though.


Quoting SunTrader
What is there to be compatible with? If you mean the indicators you already use. TS has just about everone that has ever been written. They use lousy sh*t Gain Capital for forex. But I don't trade through TS. I use IB for everything. IMO they can't be beat - IB that is.
" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #34,427
  • Sep 26, 2008 12:42am Sep 26, 2008 12:42am
this is just a possibility of today's movement.. but again its friday.. so this might be wrong.. if today's trend is clearly down.. price will be touching this MAs res while slowly going down.. I would add more shorts when it touches it.. but again this is friday..
Attached Image (click to enlarge)
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Money often costs too much...
  • #34,428
  • Sep 26, 2008 12:44am Sep 26, 2008 12:44am
well guys after having just woken up....i see this thing is still moving at a snails pace. no time frame is worth noting for the moment except the 4h (i realize this looks different to some because of the timezone difference)

anyways the ascending triangle/descending triangle line intermediary line has been acting as support/resistance for the past 6 hours and now is acting as resistance which suggests there is a bearish bias. the uptrend which has lasted 5 hours was just broken...and the upper wall of the descending triangle once again resistance. i consider the last 4h green candlestick a false breakout as it holds no strength and this current red candlestick engulfs it fully.

Conclusion...short term bearish(possibly new low)...longer term....people are still waiting for the bailout blah blah



2 other things to note.
1)ITS FRIDAY and anything goes...
2)watch out for news soon......also keep in mind certain banks going bankrupt as they may affect things in the us session
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Different opinions highly valued, ignorant to slander.
  • #34,429
  • Sep 26, 2008 12:48am Sep 26, 2008 12:48am
no wonder that green candlestick was "out of place"...i drew my upper line wrong..sorry..heres the correct descending triangle upper wall line chart

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on second thought this opening outside the channel suggests it CAN spike up up and away....to be seen
Different opinions highly valued, ignorant to slander.
  • #34,430
  • Sep 26, 2008 12:57am Sep 26, 2008 12:57am
Quoting Monk
got a chart?
Was afraid someone might ask that. I do, so no harm asking.

Ok, if you know a little about Tom DeMark sequential indicator it helps.

Chart shows a 9 buy bar setup (Magenta) and a 9 bar sell setup (Cyan). First the upper line of buy setup box is resistance and the lower line of sell setup box is support. The sell setup is contained within buy setup which usually means less strength so bearish implication. As we now see down move happening. I expect (nothing guaranteed though) drop to continue and break support (cyan) down to where oval is, since the buy setup bars #8 & 9 did not overlap bars # 6 and 7, which is a requirement for sequential to continue.

If this is all a bit much to understand you will have to take my word that it is considered highly effective to those who know DeMark and his record and reputation.
Attached Image (click to enlarge)
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  • #34,431
  • Sep 26, 2008 1:07am Sep 26, 2008 1:07am
it seems to be working for now.. use this simple method for scalping purpose only (target previous low should be fine or pay attention to candle pattern).. as this is the most basic technique of MAs combination..

EDIT : don't forget SL !
Attached Image (click to enlarge)
Click to Enlarge Name: ffbear1.gif Size: 23 KB
Money often costs too much...
  • #34,432
  • Sep 26, 2008 1:12am Sep 26, 2008 1:12am
Quoting SunTrader
Was afraid someone might ask that. I do, so no harm asking.

Ok, if you know a little about Tom DeMark sequential indicator it helps.

Chart shows a 9 buy bar setup (Magenta) and a 9 bar sell setup (Cyan). First the upper line of buy setup box is resistance and the lower line of sell setup box is support. The sell setup is contained within buy setup which usually means less strength so bearish implication. As we now see down move happening. I expect (nothing guaranteed though) drop to continue and break support (cyan) down to where oval is, since the buy setup bars #8 & 9 did not overlap bars # 6 and 7, which is a requirement for sequential to continue.

If this is all a bit much to understand you will have to take my word that it is considered highly effective to those who know DeMark and his record and reputation.
I am using TD trendline break with MACD and pivots nice to meet you maybe we can talk more.
Forex Price Action Hacked - Price Action Rockstar
  • #34,433
  • Sep 26, 2008 1:16am Sep 26, 2008 1:16am
I have 4 shorts and trailing is on..leaving now... good luck all.. I hope that helps.. God bless ya!
Money often costs too much...
  • #34,434
  • Sep 26, 2008 1:18am Sep 26, 2008 1:18am
Quoting indotrader
I have 4 shorts and trailing is on..leaving now... good luck all.. I hope that helps.. God bless ya!
how far do you set your Trailing stops? always wondered how to weather the whipsaws.
  • #34,435
  • Sep 26, 2008 1:27am Sep 26, 2008 1:27am
Quoting kasper
how far do you set your Trailing stops? always wondered how to weather the whipsaws.
If he´s got the answer on that, he is probably a billionaire by now.... I would sure like to know too!
  • #34,436
  • Sep 26, 2008 1:38am Sep 26, 2008 1:38am
Quoting kasper
how far do you set your Trailing stops? always wondered how to weather the whipsaws.
since he left i will answer for him. trailing stops depend on the volatility in the markets. the more volatile it is...the higher the trailing stop...the less volatility...15/25 pip trailing stop is sufficient. tonight is fairly quiet...not much volatility so im pretty sure if he entered near the top...1.4660 or so hes got 25 pip trail stop max
Different opinions highly valued, ignorant to slander.
  • #34,437
  • Sep 26, 2008 2:09am Sep 26, 2008 2:09am
it might drop to 1.4523 or below 1.4437 zone.
  • #34,438
  • Sep 26, 2008 2:12am Sep 26, 2008 2:12am
for those of you who are still here considering how boring today is...heres the walls of the current downtrend...just possible points of reversal/continuation
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Different opinions highly valued, ignorant to slander.
  • #34,439
  • Sep 26, 2008 2:16am Sep 26, 2008 2:16am
Quoting ak4x
On the EJ trade, no breaky 54.50ish, no tanky...
Yo 5ysfx, now you're cookin with gas... busted that 54.50 level but good...

If it takes out that 54.00 level, look out below. Excellent call!! U da man.
FUBAR...
  • #34,440
  • Sep 26, 2008 2:17am Sep 26, 2008 2:17am
1.4607 it miught be support..
Never sell @ lower upward channel unless breacked and vise versa .
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