OK...you guys have me sold. I'm going to scalp with only 1 mini lot and see how I do.
B
it knows you are there
What is your t/p for the other half? 190.90, or higher?
Reading up on divergences, I have a chart now on desktop, not rocket science but I can now see their value. malcomb showed me the divergences on RSI, and I was aware of MACD divergences, but had not paid that much attention to them .. working on multiple timeframes, I can see how it all ties together. Also I got the FSX Divergence indicator posted on this thread, I use that plus eyeballing the macd. If anyone wants the FSX one, click on icon with paperclip at top right of page, there is a list of all files uploaded, I think it is around mid September that it was posted.
the bearish flag karmo talked about earlier is yet to show its true form. the lower TL should be drawn from the of 186.40 to the low 4 1h candles ago at 187.80, if we hit that lower TL, i'm going long targeting 4h 50ema hopefully.
btw, anyone knows if the QQE indicator crossed up on VT's 4h charts?
Karmo or Malcolmb UJ cant get past 106.20 do you tink its loosing the momentum?
Long term I don't see this go below 188.90 area for sometime to come.
. Now you have me thinking twice.
here's something nice and simple:
"Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.
The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone."
Now let's think about this folks.
The Fed threw $630 billion into the market before the vote, and yet the S&P 500 was down 40 handles anyway, and in fact tanked after the vote.
Note carefully - Paulson's plan was $700 billion, and Bernanke spent $630 billion - almost the entire amount proposed - but failed to fix the problem.
Got it?
Good.
Now do you see what I've been saying?
We were about to piss $700 billion into a tornado and lose it forever.
