In Weekly and monthly chart is overshoot
iam long term trader
iam short EU from 1.600
still short
target 1.3184
I love murrey math trading
Make Pips everyday
looking my chart ad what do u think
in -2/8 now
is extremely overshoot
let see
and long from here 1.3184
and target in line 0/8, 2/8, 5/8, 8/8 and +/2/8
LONG EU IN 1.3184
IS EXTREMELEY OVERSHOOT
- #38,901
- Edited 10:50am Oct 11, 2008 8:50am | Edited 10:50am
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
Thanks to all of you.Thanks to Psiholog love you posting ,the way you analysize the trend keep it up men!
Hey Acumen you too are great 
your trading style makes my mind clear i would say (Accurate men! =Acumen)
I have to agree, i never post much, but love you guys opions, keep it up!!!!!!
Hey Acumen you too are great your trading style makes my mind clear i would say (Accurate men! =Acumen)
I have to agree, i never post much, but love you guys opions, keep it up!!!!!!
- #38,905
- Oct 11, 2008 1:07pm Oct 11, 2008 1:07pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Thanks to all of you.Thanks to Psiholog love you posting ,the way you analysize the trend keep it up men!
your trading style makes my mind clear i would say (Accurate men! =Acumen)
I have to agree, i never post much, but love you guys opions, keep it up!!!!!!
Some very, very good traders new and old are showing others how to beat this beast.
It's a great place to learn.
I believe I would have been much more successful early on if this would have been around when I started trading.
Again... appreciate the kind words.
Mike
- #38,908
- Oct 11, 2008 1:17pm Oct 11, 2008 1:17pm
- Joined Mar 2007 | Status: Trader | 3,709 Posts
Sorry, just got back. Two things, one more likely than the other. Most likely is some of us will find liberal interpretations of the fine print that we never dreamed existed in our dealings with them over execution of trades and so on. We'll be so disgusted by some of the things they do, we'll be looking for a new home. Problem is, there's no simple answer to that problem. At the end of the day, we're a captive audience... alternatives are few to non-existent, and the actual differences between most borkers is minimal.
Second is less likely, but I won't rule it out. There are gonna be some borkers that have liquidity issues sooner or later, and then the next wave of fly by night borkers going out of businesss, or getting assimilated by the big dog borkers will begin. Big dog eat little dog...
Everyone should have this bookmark and spend a dull hour reading the monthly report... My question is why is the most recent data always a couple months old...???
http://www.cftc.gov/marketreports/fi...fcms/index.htm
Borkers have gone out of business in better times than these...
PS. A world class scalper acquaintance of mine that thinks a 3m chart is a high TF, has his accounts spread across 4 separate ones... He really has trust issues.
Is he married?
Sounds like he could have some relationship issue with that one.
m
- #38,909
- Oct 11, 2008 3:15pm Oct 11, 2008 3:15pm
- Joined Jan 2008 | Status: HEY! WHA' HAPPENED? | 15,496 Posts
Not all sins are created equal
- #38,910
- Oct 11, 2008 7:01pm Oct 11, 2008 7:01pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
Sorry for the large image. It's time to cover long term shorts as E/U has just
bounced off of the Weekly 200 MA (a well-respected level of R/S)
Your method exhibits a 2 out of 5 Hit rate.
Please reduce the image and allow
1 page wide communication to continue on this thread.
ps. I have a few Wide Screens on which it fits but still have a couple of standard monitors that it screws up the thread width on.
Hmm.. Now it is being quoted on to the next page....
- #38,911
- Oct 11, 2008 8:45pm Oct 11, 2008 8:45pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
all i can say about friday is wow. just pure wow. i dont think anyone has ever seen what happened before...not so close to market close. just pure wow.
i did meet my goal (barely by breaking mm, not good at all) so i am taking a break this sunday
i will let the chart do the talking of how i see things now...its pretty self-explanatory just note that in electronic trading the pair is already at 1.3518
we may see that 1.38 sunday or monday...even 1.400(61.8fib on last move down) is a possibility now without entering bull market. this fast moving market is in sync with the us stock market...its amazing...the wild swings...the wild reversals...the inconclusive breakouts (like that retest of the last major downtrend twice)
anyways...to all who profited on friday congrats to you. to those who lost..dont feel bad a lot of people got burned and thats what this market is designed to do. to those who stayed out or missed the action...consider yourself grateful because it was a huge gamble just to be in the market as shown by the action in the last 3 hours..200pips down..150pips up..insane
the chart itself shows we are now much more likely to retrace for a while then continue down (as acumen pointed out we tapped the 61.8% fib retracement from low in 2005)..still...anything is possible with this volatility
i did meet my goal (barely by breaking mm, not good at all) so i am taking a break this sunday
i will let the chart do the talking of how i see things now...its pretty self-explanatory just note that in electronic trading the pair is already at 1.3518
we may see that 1.38 sunday or monday...even 1.400(61.8fib on last move down) is a possibility now without entering bull market. this fast moving market is in sync with the us stock market...its amazing...the wild swings...the wild reversals...the inconclusive breakouts (like that retest of the last major downtrend twice)
anyways...to all who profited on friday congrats to you. to those who lost..dont feel bad a lot of people got burned and thats what this market is designed to do. to those who stayed out or missed the action...consider yourself grateful because it was a huge gamble just to be in the market as shown by the action in the last 3 hours..200pips down..150pips up..insane
the chart itself shows we are now much more likely to retrace for a while then continue down (as acumen pointed out we tapped the 61.8% fib retracement from low in 2005)..still...anything is possible with this volatility
Different opinions highly valued, ignorant to slander.
- #38,912
- Oct 11, 2008 9:12pm Oct 11, 2008 9:12pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #38,913
- Oct 11, 2008 9:52pm Oct 11, 2008 9:52pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
Sorry for the large image.
It's a free Microsoft powertoy for XP, there's another one for Vista somewhere on same site. You want the 5th option from the bottom, the "Image Resizer". Works instantly with a couple clicks from the "Right Click" menu once installed. Very handy, works on any image.
http://www.microsoft.com/windowsxp/D...powertoys.mspx
Everyone remember to check the Calendar before getting too excited about the opening... Japan holiday on Monday / Sunday nite, and US and Canadian holiday Monday... plus the G7 meetings.
One thing supecedes all of that however, and it simply cannot be determined at this time what the effect of Jaywalkers new avatar wil be on the markets. Myself, I'm standing aside until I see how they react...
FUBAR...
Attached is the monthly and weekly chart of this pair.
Monthly chart shows a very great possibility of further downtrend to at least 1.3054 (38.2% Fib) to as low as 1.2132 (50% Fib). This is my long term view but i prefer the 1.3054 area as price usually bounce or reverse on the 38.2 % lvl.
On the other hand, let's look at the weekly chart.
As you can see and most of you are aware of this, we just breached the 68.2% Fib lvl of the high from 1.6035 to the low of 1.1638 (white line).
Looking closely on the PA, after the price reached the 50% Fib lvl, it retraces back past the 38.2% Fib lvl before continuing it's move south to test the 61.8% and so the current situation. What im trying to say is same thing may happen here, a bounce is possible to at least 1.3837 (50% Fib) as psiholog mentioned before a BIG move to the south again.
Just my outlook, feel free to comment
Monthly chart shows a very great possibility of further downtrend to at least 1.3054 (38.2% Fib) to as low as 1.2132 (50% Fib). This is my long term view but i prefer the 1.3054 area as price usually bounce or reverse on the 38.2 % lvl.
On the other hand, let's look at the weekly chart.
As you can see and most of you are aware of this, we just breached the 68.2% Fib lvl of the high from 1.6035 to the low of 1.1638 (white line).
Looking closely on the PA, after the price reached the 50% Fib lvl, it retraces back past the 38.2% Fib lvl before continuing it's move south to test the 61.8% and so the current situation. What im trying to say is same thing may happen here, a bounce is possible to at least 1.3837 (50% Fib) as psiholog mentioned before a BIG move to the south again.
Just my outlook, feel free to comment
- #38,918
- Oct 12, 2008 12:11am Oct 12, 2008 12:11am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
On the other hand, let's look at the weekly chart.
On the path to Enrichment.
- #38,919
- Oct 12, 2008 12:50am Oct 12, 2008 12:50am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I am currently looking for shorts in this currency and any postion I take long I will be treating as scalp untill we break 3583...at this point I will begin looking for support to hold to trade back into the daily resistance levels...
It has been my experience that if the move is bearish, you should draw the fib with the 0 level at the peak and the 100 level at the bottom, as is normally opposite for a bull move. I think you'll find the correlation between price s/r and such a fib much better than by doing the opposite.
But if you're referring to the blue line, that's just my view on short term retracement
