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  • #38,281
  • Oct 9, 2008 12:41am Oct 9, 2008 12:41am
....to see if we can go over 1.3800.
For now we must see 1.3660 act as support.
Until 1.3800 hit I remain Long.
I prefer to buy at 1.3600 Level, probably not reach there until we might see 1.38, but 1.3617/23 can well be support.
I would like to see today price close above 1.3690/1.3700 to keep my view for further gains otherwise I will be Neutral/Bearish for the outcome week.
  • #38,282
  • Oct 9, 2008 12:44am Oct 9, 2008 12:44am
Quoting traderathome
At this point I see no reason for the Asian session traders to not take this back to the session bottom of 1.3580, or at least to the whole number 1.3600 or the 538% fib extension level of 1.3588 since there is nothing to stop them.

On the other hand, they have had essentially a half range move down, whole range move up, and another half range move down.....for over 200 pips! And maybe that is enough for them and they will just let this coast now into the Euro session, having made good pips and having returned the price to whence they received it.......

I have closed out my short trades. The Asian session seems over and there is no way to know which direction the Euro traders will start this off in. The price is hovering around the open price for this trading session of 1.3654....
  • #38,283
  • Oct 9, 2008 12:45am Oct 9, 2008 12:45am
Here's an update to that little pip lab project...

I finally got the confirmed cross on the 20m. you can see the almost cross earlier this evening, they were kissing at one point, but opened up at the last minute before the candle close, so no trade.

The confirmed cross took place at the 138% ext of the previous crosses, and I'll be looking for the retrace, or whatever happens if anything at the 62% level for now, as long as it clears below current stall at M3 (37.06) and doesn't bounce. I just need to figure out how price relates to this thing before it gets there.

need to correct the earlier chart that showed it's eu, it's ej. bigger moves makes it easier to plot for now.
Attached Image
FUBAR...
  • #38,284
  • Oct 9, 2008 12:46am Oct 9, 2008 12:46am
Quoting psiholog
my stop loss is 40pips like on all my trades...i dont use indicators therefore my entry points arent always perfect. like right now for example...i entered right before the drop started at 1.3670...that means i would be out at 1.3630 and strong support based on fibs is at 1.3625...still scratching my head on that one...reenter for just 5pips..ah well strategy is strategy
Ok. Understand now where you are coming from. On my chart, 1.364 will be a support (5m MA100, 1hr MA100, 50% Fibo). Now at the moments, it seem to hold.

Personally I will look for entry after it test 1.36 (76.4% fibo) for long. Let's see how it goes.
  • #38,285
  • Oct 9, 2008 12:47am Oct 9, 2008 12:47am
I think long from 2 days ... but the world situation confuses the market. However I try a long soon if it exceeds 1.3657 .. and then I will pray
The best thing that can happen to you is to find out where you're wrong.
  • #38,286
  • Oct 9, 2008 12:50am Oct 9, 2008 12:50am
Quoting ak4x
Here's an update to that little pip lab project...

I finally got the confirmed cross on the 20m. you can see the almost cross earlier this evening, they were kissing at one point, but opened up at the last minute before the candle close, so no trade.

The confirmed cross took place at the 138% ext of the previous crosses, and I'll be looking for the retrace, or whatever happens if anything at the 62% level for now, as long as it clears below current stall at M3 (37.06) and doesn't bounce. I just need to figure out how price relates to this thing before it gets there.

need to correct the earlier chart that showed it's eu, it's ej. bigger moves makes it easier to plot for now.

Hi. What is the red and green line? Moving average?

Edit: sorry, carefully looking at your chart, now i realise it is Slow Stoch
  • #38,287
  • Oct 9, 2008 12:56am Oct 9, 2008 12:56am
Quoting psiholog


earlier i mentioned market sentiment is 51% bullish...i still feel it is so. i also mentioned we broke out of the downwards channel we have been in since last tuesday. as i also always say...a retest of the breakout wall almost always happens. i believe we just have seen it. in my opinion we shall see a new high tonight...possibly 1.3800

as i always say though
DO NOT FOLLOW MY OBSERVATIONS AND TRADES BLINDLY....just use as a second opinion

Attachment
im reposting this because i still think its valid and some of you may have not seen it

on top of that...i have never used elliot waves but i see them forming in my head as i post this...wave 1 bounce off that line...now were in wave 2..wave 3 to follow...haha i dont even know what im saying

to be seen
Different opinions highly valued, ignorant to slander.
  • #38,288
  • Oct 9, 2008 12:56am Oct 9, 2008 12:56am
Today I only use all amulets that I have . No technical analysis )
The best thing that can happen to you is to find out where you're wrong.
  • #38,289
  • Oct 9, 2008 1:08am Oct 9, 2008 1:08am
@ psiholog, what is your target dude?
  • #38,290
  • Oct 9, 2008 1:08am Oct 9, 2008 1:08am
Are you there ??
The best thing that can happen to you is to find out where you're wrong.
  • #38,291
  • Oct 9, 2008 1:11am Oct 9, 2008 1:11am
Quoting boardslide
@ psiholog, what is your target dude?
if you take a look at that black line which connects the first two highest spikes for this week it looks like a good possible resistance...if we were to tap it now wed be at just about 1.3800 give or take a few pips...for now that is my target but may close order and reopen depending on price action... i canoot do what jay walker does....my capital does not allow it
Different opinions highly valued, ignorant to slander.
  • #38,292
  • Oct 9, 2008 1:14am Oct 9, 2008 1:14am
Quoting psiholog
if you take a look at that black line which connects the first two highest spikes for this week it looks like a good possible resistance...if we were to tap it now wed be at just about 1.3800 give or take a few pips...for now that is my target but may close order and reopen depending on price action... i canoot do what jay walker does....my capital does not allow it
Hey, my capital shouldn't allow it either. I put small amounts of money and stick to my S/L.
Not all sins are created equal
  • #38,293
  • Oct 9, 2008 1:15am Oct 9, 2008 1:15am
goodmoring all traders...
  • #38,294
  • Oct 9, 2008 1:16am Oct 9, 2008 1:16am
Look at 3710-3715 .. this is my first step and my doubt
The best thing that can happen to you is to find out where you're wrong.
  • #38,295
  • Oct 9, 2008 1:19am Oct 9, 2008 1:19am
Quoting Driver55
Look at 3710-3715 .. this is my first step and my doubt
I think it just might crack that before the end of the Eurozone trade session.
Not all sins are created equal
  • #38,296
  • Edited 1:46am Oct 9, 2008 1:19am | Edited 1:46am
I'm long biased because of two days up in a row. That combined with the fact that before yesterday I didn't understand why dollar demand was so high and after a reuters article I read I finally understand and the reason is not pretty. This also explains why dollar goes up even though US fundamentals are not very pretty. In fact this explains why worse fundamentals actually add to the demand.

Read from "Why so short (page 2)?
http://www.reuters.com/article/reute...BrandChannel=0

edit: Btw yesterday I was thinking why dow correlates to eurusd positively and that answers that question too.
  • #38,297
  • Oct 9, 2008 1:22am Oct 9, 2008 1:22am
i said black line yet didnt even post chart....no wonder i messed up on entry because of impatience...im way too tired to be trading and its clouding my judgement...this will be my last post as i will go take a nap
my current position i will keep open...40pip stop loss take profit 1.3799...whatever happens happens

Good luck pippin all and careful on those bear moves....they happen FAST

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Different opinions highly valued, ignorant to slander.
  • #38,298
  • Oct 9, 2008 1:22am Oct 9, 2008 1:22am
Quoting Jay Walker
I think it just might crack that before the end of the Eurozone trade session.
I hope, but if we reach this level.. i close 30% of my lots
The best thing that can happen to you is to find out where you're wrong.
  • #38,299
  • Oct 9, 2008 1:23am Oct 9, 2008 1:23am
damn,, it hit my 50 pip target, but i forget to put it on live account, hit on my virtual account, any suggestion where i should back to the reality??
  • #38,300
  • Oct 9, 2008 1:28am Oct 9, 2008 1:28am
if price will go up 1.3705 means target 1.755

otherwise will bounce @ 1.3700 and comedown to 1.3600 in order to Londen market eat it (buy) like yestrday..


Never sell @ lower upward channel unless breacked and vise versa .
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