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  • #39,481
  • Oct 15, 2008 1:26pm Oct 15, 2008 1:26pm
this iceberg order idea is very intriguing to me. can you guys who are familiar with it take a look at my chart and tell me your opinions ...i included volume although i never use. this is for curiousity only as it may be a pattern i play in the future

sidenote-i was in my trade long before the iceberg talk....1.3500 is a good level to bounce off iceberg order or not


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Different opinions highly valued, ignorant to slander.
  • #39,482
  • Oct 15, 2008 1:27pm Oct 15, 2008 1:27pm
Quoting SunTrader
I don't really follow these types of market manuevers (iceberg orders and such) in forex but in equities sometimes the market makers, institutional types prop up or hold down a market until they want it to move.

So what looks like support (and resistance in opposite situation) is actually false when the bottom drops. Traders are left saying "but why was there all this buying and then it went lower anyway?"

Sometimes it points to real buying/selling and sometimes it doesn't. If forex had volume it might help but mostly you have to watch which way it breaks and especially which way the trend is strongest.
Amen! That pretty much says it all.
  • #39,483
  • Oct 15, 2008 1:34pm Oct 15, 2008 1:34pm
It hit 1.3500 and points south (5 extra pips). Not much time left in this session. Time for a pullback up? Will the next low timeframe trend be up thru the next Asian and Euro sessions tomorrow? Will any upside just be posturing for another strong leg down in the next session? I am out for now, waiting for the dust to settle and the pieces of the puzzle to start fitting together again.....
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  • #39,484
  • Oct 15, 2008 1:37pm Oct 15, 2008 1:37pm
pretty confortable with longs here for a while. bounce off retrace from weekend gap and breakup might be powerful move.

things that might get us there.

Higher Oil / Commodities
Improved credit markets
Stock market bounce

Tall order, I guess. The crux is whether or not we retest extreme lows of last friday.
  • #39,485
  • Oct 15, 2008 1:45pm Oct 15, 2008 1:45pm
is that a double top starting to form?
  • #39,486
  • Oct 15, 2008 1:47pm Oct 15, 2008 1:47pm
Quoting TIckerShuffl
pretty confortable with longs here for a while. bounce off retrace from weekend gap and breakup might be powerful move.

things that might get us there.

Higher Oil / Commodities
Improved credit markets
Stock market bounce

Tall order, I guess. The crux is whether or not we retest extreme lows of last friday.
Powerful move?
Which way?
North or South?
  • #39,487
  • Oct 15, 2008 1:53pm Oct 15, 2008 1:53pm
Quoting gagakrimba
Powerful move?
Which way?
North or South?
im long eur
  • #39,488
  • Oct 15, 2008 1:56pm Oct 15, 2008 1:56pm
last post for some time...going to get some shuteye as ive been up way too long. dont laugh at the chart...each line is a resistance due to that false break up. to clear it up though...we go above 1.4545 or 1.4550(psychological value) we should see 1.3600 again or higher...to be seen...
1.4540 or so is current 23.6% fib resistance so really path north is....filled with obstacles

best course of action stay out

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Different opinions highly valued, ignorant to slander.
  • #39,489
  • Oct 15, 2008 1:57pm Oct 15, 2008 1:57pm
Quoting phedrus
is that a double top starting to form?

Where??? in what timeframe are you looking it???
  • #39,490
  • Oct 15, 2008 1:59pm Oct 15, 2008 1:59pm
Quoting gagakrimba
Powerful move?
Which way?
North or South?
Tic is proverbial EU bull, regardless of the downtrend below the previous 1 1/2 years trading.
  • #39,491
  • Oct 15, 2008 2:04pm Oct 15, 2008 2:04pm
Quoting TIckerShuffl
im long eur
whats ur position? SL? TP?

Tnx.
  • #39,492
  • Edited 2:51pm Oct 15, 2008 2:06pm | Edited 2:51pm
Here is my current, quite simple chart. I would look if 1.35 holds. If it does, we are going to get a daily macd divergence in 1-2 days. After the daily divergence has been closed, I will go long when there is also some good looking price action (like going over one of the daily tls)

edit: added the upper tl and daily chart..
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  • #39,493
  • Oct 15, 2008 2:07pm Oct 15, 2008 2:07pm
hye everyone....u all r vry intellligent n talented people.....am new user..and dun hve much idea about trading......plz u guys hepl me up....plz tell me wat u think wen it rise up.........ir its still selling wen it move to up .......any ideass...regards
  • #39,494
  • Oct 15, 2008 2:13pm Oct 15, 2008 2:13pm
Quoting SunTrader
Tic is proverbial EU bull, regardless of the downtrend below the previous 1 1/2 years trading.
I know what you mean but for the record, EURUSD was trading at these levels a year ago, we are not below the past 1 1/2 years of trading.

What's your dollar bull argument?
  • #39,495
  • Oct 15, 2008 2:13pm Oct 15, 2008 2:13pm
Quoting SunTrader
hair-splitting
split hairs - to argue about whether details that are not important are exactly correct.
Really... That's odd. When I asked all the girls in the house, they unanimously said it means it's time to go to the hair saloon.

About tarfu. The order of how messed up things are in order of sequence... Bohica, Snafu, Fubar, Tarfu. Here's a great authoritative source demonstrating proper application... Tango and Cash.

BTW, what happened anyway today!? I been teetering on top of a way too tall ladder putting in ceiling fans for the widows all day. I come back to mad pips on all the shorts. Never mind. I don't want to start a fight.

The girls also said "iceberg order" had something to do with what kind of lettuce you wanted in your salad...

I'm gonna ask them what they think about the euro when I go back next.
FUBAR...
  • #39,496
  • Oct 15, 2008 2:15pm Oct 15, 2008 2:15pm
I don't think I am very intelligent or talented but I do decide when and what to trade and not ask others. I learned that when I was a noob so yes I didn't do it then either.
  • #39,497
  • Oct 15, 2008 2:17pm Oct 15, 2008 2:17pm
I feel it has lost its momentum and slowly sliding southward
  • #39,498
  • Oct 15, 2008 2:21pm Oct 15, 2008 2:21pm
i was looking at the 1 minute chart. but i am still new to this whole game and need help reading charts. i always have a 1m 5m and 15m that are up all the time and then sometimes i have 1h 4h and day charts that i look at every now and then. I am a trader with little capital so it is really hard for me to have long positions, therefore i go for the quick 20 to 50 pips at a time. any suggestions would be great. I am still searching for a system that works well for me.

thanks all for your help.

Quoting GuateForex
Where??? in what timeframe are you looking it???
  • #39,499
  • Oct 15, 2008 2:22pm Oct 15, 2008 2:22pm
Quoting TIckerShuffl
I know what you mean but for the record, EURUSD was trading at these levels a year ago, we are not below the past 1 1/2 years of trading.

What's your dollar bull argument?
You are corect it is not presently trading below an 18 month low as it was just last Friday. Give it time though.

I don't have a dollar bull case to make other than the fact that the trend is up for the dollar. Good enough for me.

Fundamentals don't put money in my account, unless the market says it will. The "market" rules, not the news, not the Fed, not Bush, not trade deficits, not budget deficits. Eventually these might matter (well, maybe not Bush , good riddence) but in the meantime price is all that matters.
  • #39,500
  • Oct 15, 2008 2:31pm Oct 15, 2008 2:31pm
Quoting TradeWell
It's about risk appetite. If everything else is too risky, why not buy dollars and Treasury instruments? Those are always good because the US has no qualms about printing more money to cover its obligations. Europe is too worried about inflation to do that.
Thank you , makes lots of sense in the short-run. I would have said gold, instead of t-bills, but gold on paper is highly manipulated .

what is your outlook in the next 24 hours? Support - resistance. Nasdaq & london stock exchange are both down. meaning based on your panic theory it should drive USD upwards against the Euro. As they tend to buy t-bill, gold should be pushed up , and yen should surge against Euro ( low yield - safe haven )
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