- #34,583
- Sep 26, 2008 9:29am Sep 26, 2008 9:29am
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
Nice riding up and down, works well 
They think they are smarter than I am.
- #34,584
- Sep 26, 2008 9:33am Sep 26, 2008 9:33am
thank You guys for the attention. I want to play more today but this is too mutch for me. I'm retreating, Japan sleep, its us and NY and I afraid of a big gap on monday if I'm cougt with a bad opened position later today.
Hope things get to "normal". As I understand such recessions are normal, but I definately do not know how to trade when crushes and bailouts "dictate" the market!
Hope things get to "normal". As I understand such recessions are normal, but I definately do not know how to trade when crushes and bailouts "dictate" the market!
- #34,585
- Sep 26, 2008 9:38am Sep 26, 2008 9:38am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
heres a tip to all interested. i have found it quite useful in times of doubt. it reflects the panic and fear in the markets which creates erratic trading. it works 75% of the time and is worth looking into. learn this and study it...do not try to apply right away...make sure it works first.
the only time it doesnt apply is in case of breakouts..true massive breakouts.
the tip is simple...those gaps get filled usually
Attachment
Different opinions highly valued, ignorant to slander.
- #34,586
- Sep 26, 2008 9:43am Sep 26, 2008 9:43am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Now you had to say that just as I was about to post this 4h channel with BB's.
Though I ignore spikes for the most part, if they are outside the majority of candle bodies.
Though I ignore spikes for the most part, if they are outside the majority of candle bodies.
- #34,589
- Sep 26, 2008 10:00am Sep 26, 2008 10:00am
- Joined May 2006 | Status: Still here. | 2,602 Posts
Medium to long term - My views on Monthly and Weekly charts:
It hasn't changed from the last analysis I posted, I still see a (symmetrical) consolidation to build right shoulder on the weekly, and thus a range between 1.4350 and 1.4850 for a while (I would say until the end of the year most probably, as I don't think big decisions would be made in the last quarter of the year).
Then I mostly favor a breakout of the trendline (because of fundamental issues mostly and also to continue the head and shoulders pattern).
However, we have a huge pinbar possibly forming on monthly (only two trading days left - though anything can happen with those last monstruous ranges of eurodollar...) and we have had a huge pinbar also in weekly (with 447 pips wick) so a reversal could be possible, though I don't see it going higher than 1.50 (because, again, of all the negative fundamentals).
In any case, trade what YOU see.
It hasn't changed from the last analysis I posted, I still see a (symmetrical) consolidation to build right shoulder on the weekly, and thus a range between 1.4350 and 1.4850 for a while (I would say until the end of the year most probably, as I don't think big decisions would be made in the last quarter of the year).
Then I mostly favor a breakout of the trendline (because of fundamental issues mostly and also to continue the head and shoulders pattern).
However, we have a huge pinbar possibly forming on monthly (only two trading days left - though anything can happen with those last monstruous ranges of eurodollar...) and we have had a huge pinbar also in weekly (with 447 pips wick) so a reversal could be possible, though I don't see it going higher than 1.50 (because, again, of all the negative fundamentals).
In any case, trade what YOU see.
- #34,591
- Sep 26, 2008 10:07am Sep 26, 2008 10:07am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
If we get there, this should be good buy area:
Different opinions highly valued, ignorant to slander.
- #34,593
- Sep 26, 2008 10:12am Sep 26, 2008 10:12am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
On the path to Enrichment.
- #34,594
- Sep 26, 2008 10:16am Sep 26, 2008 10:16am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
Different opinions highly valued, ignorant to slander.
- #34,595
- Sep 26, 2008 10:19am Sep 26, 2008 10:19am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #34,600
- Sep 26, 2008 10:41am Sep 26, 2008 10:41am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Could you share how did you move your SL, after correct entry point? In theory target is now at 1,4650.
On the path to Enrichment.