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  • #6,041
  • Sep 28, 2008 6:47pm Sep 28, 2008 6:47pm
Does this mean we're gonna see a lot of market movement aka a lot of pips coming soon? Does it also mean the market is going more unpredicatable or that it's going to still follow very closely with fibonacci?

Thanx
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,042
  • Sep 28, 2008 6:55pm Sep 28, 2008 6:55pm
Quoting Bobokus
Where did you go short at ?


I went short @ 1.8349 on cable and 1.4524 on fiber.
  • #6,043
  • Sep 28, 2008 6:58pm Sep 28, 2008 6:58pm
Quoting TheLegace
Does this mean we're gonna see a lot of market movement aka a lot of pips coming soon? Does it also mean the market is going more unpredicatable or that it's going to still follow very closely with fibonacci?

Thanx
TheLegace.
This may just be the knee jerk reaction to the news that the bailout plan is going to get approval. Me personally Im going to wait until I see more of the waveforms develope before I make an entry, need to see what the sentiment is going to be.
  • #6,044
  • Sep 28, 2008 7:00pm Sep 28, 2008 7:00pm
Quoting hiswords
I went short @ 1.8349 on cable and 1.4524 on fiber.
I think you may be Ok if you can wait it out, take profit if it gives you the chance and wait till we see more of what the reactions are going to be before entering again.
  • #6,045
  • Sep 28, 2008 7:26pm Sep 28, 2008 7:26pm
It's like market seems reacting to the latest news from the capital hill,the so call "rescue fund" has already been released on conditions.I'm already in green on my trade.
What do you think of the trades now?should i wait or exit
  • #6,046
  • Sep 28, 2008 8:03pm Sep 28, 2008 8:03pm
Quoting hiswords
It's like market seems reacting to the latest news from the capital hill,the so call "rescue fund" has already been released on conditions.I'm already in green on my trade.
What do you think of the trades now?should i wait or exit
That part is entirely up to you, the Euro is testing its Retracement long level now, a 4 hour candle below 1.4490 and you may can hold it a little longer. Cable has the potential to go 1.8200 or so if the momentum can be maintained. If your in good profit you can close a portion and let the rest ride it out if you want to put some profits away.
  • #6,047
  • Sep 28, 2008 8:19pm Sep 28, 2008 8:19pm
Thanx for been there,i av taking out about 95% of all my trades with some good profit,i'll let the rest run.I'm out for now.
  • #6,048
  • Sep 28, 2008 8:38pm Sep 28, 2008 8:38pm
and we'll move intradays from Friday's high low tomorrow at the close of the day even though low has been broken already?
  • #6,049
  • Sep 28, 2008 8:46pm Sep 28, 2008 8:46pm
Quoting jasius
and we'll move intradays from Friday's high low tomorrow at the close of the day even though low has been broken already?

Fridays Intraday is done anyway its target range has been met, now we use the movement from what unfolds from here to the end of Monday and we'll most likely have the next one. The higher timeframes levels above and below price are what were watching now, or until the next Intraday is set.
  • #6,050
  • Sep 28, 2008 8:49pm Sep 28, 2008 8:49pm
don't get it. for Monday trading, lows are from today but highs are from Friday?

Quoting Bobokus
Fridays Intraday is done anyway its target range has been met, now we use the movement from what unfolds from here to the end of Monday and we'll most likely have the next one. The higher timeframes levels above and below price are what were watching now, or until the next Intraday is set.
  • #6,051
  • Sep 28, 2008 9:16pm Sep 28, 2008 9:16pm
Quoting jasius
don't get it. for Monday trading, lows are from today but highs are from Friday?
The targets from the Intraday drawn on Fridays movement have been met already. That means that the Intraday from Friday is no longer needed.
That only leaves the higher timeframe(4hr.Daily) levels, and following with each swing now with a Swing fib until we have new movement in which to draw the next Intraday from, which wont happen until todays trading is done and we can see the range and movements from today.
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  • #6,052
  • Sep 28, 2008 10:30pm Sep 28, 2008 10:30pm
hey bo could you show the intraday level for the e/u
  • #6,053
  • Sep 29, 2008 1:54am Sep 29, 2008 1:54am
The 1.8200 point was hit,my remaining trade has been taking out.But still think we might still see a more ourney south as i zoomed to a larger timeframe and discover that the targets of the swing fib i pulled were not met yet.
Just want to know ur tought!
  • #6,054
  • Edited 1:58am Sep 29, 2008 1:56am | Edited 1:58am
Aloha,

Where do you guyz have your 4h fib drawn. I'm trying to figure out if it would be wise to go shot on EU at around support failure of 1.4420. Looking back, it would have been good since it's now at 1.4385 but just trying to learn about entry.

Thanks
A lawn mower is not an effective tool to pick-up dog poop!
  • #6,055
  • Sep 29, 2008 2:22am Sep 29, 2008 2:22am
here's where I have my EU 4H
Attached Image
trading naked.......
  • #6,056
  • Edited 2:46am Sep 29, 2008 2:33am | Edited 2:46am
Quoting piphitman
here's where I have my EU 4H
That's where I had mine as well. Using the 4h seemed to be the only fib to use to base a short entry decision. I did enter at 1.4397 and pulled the plug on the swing fib retracement t1 level. What other factors, if any, do you use to determine your tp level?

On a tech note, how do you attached a screen shot of your chart?
Attached Image
A lawn mower is not an effective tool to pick-up dog poop!
  • #6,057
  • Sep 29, 2008 3:15am Sep 29, 2008 3:15am
Quoting Jazflyer
That's where I had mine as well. Using the 4h seemed to be the only fib to use to base a short entry decision. I did enter at 1.4397 and pulled the plug on the swing fib retracement t1 level. What other factors, if any, do you use to determine your tp level?

On a tech note, how do you attached a screen shot of your chart?

You dont use the fibb like that....all of that was still one movement reacting to a larger swing.
  • #6,058
  • Sep 29, 2008 3:44am Sep 29, 2008 3:44am
Quoting Shermenator
You dont use the fibb like that....all of that was still one movement reacting to a larger swing.
I realize that as the price continues to drop, as in this case, the swing or retracement fib should be pulled to the next successive low and its respective t1/t2 high is the area where price the potential to retrace. I guess I was looking for a target other than the larger 4h fib t1 or t2 to take profit. Where would one look for a tp target in this situation since the interday fib from Friday is not necessarily used any more?

Your comments are really appreciated.
A lawn mower is not an effective tool to pick-up dog poop!
  • #6,059
  • Sep 29, 2008 3:53am Sep 29, 2008 3:53am
Anyone trading this? Pretty nice fibs on this one:
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  • #6,060
  • Sep 29, 2008 4:38am Sep 29, 2008 4:38am
Quoting Jazflyer
I realize that as the price continues to drop, as in this case, the swing or retracement fib should be pulled to the next successive low and its respective t1/t2 high is the area where price the potential to retrace. I guess I was looking for a target other than the larger 4h fib t1 or t2 to take profit. Where would one look for a tp target in this situation since the interday fib from Friday is not necessarily used any more?

Your comments are really appreciated.

Alright here is my chart for the day you traded....

I would of shorted when the 1 am candles low broke and would of scalp back to intraday levels...you could have either held you trade to the Intraday long or use the swing targets as excets...this is the only trade I would of taken on this night durning the time I trade...another apportunity took place after this as well...
Also keep in mind we had began braking lows in the daily chart after impactin the retracament short ...

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