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  • #40,861
  • Oct 22, 2008 12:16pm Oct 22, 2008 12:16pm
i dont know if we will see a retrace any time soon. however...here's the chart of the day...its classic...i'm still amazed at how how one sided its been for so long and we could see a continuation.

what we have here is a clear descending channel with a false breakout many hours ago. now we are testing the upper wall and from the looks of it...there's no way there will be a retracement unless its broken. those horizontal lines are values that i show are what i consider pivotal points for determining future direction

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 32 KB
Different opinions highly valued, ignorant to slander.
  • #40,862
  • Oct 22, 2008 12:21pm Oct 22, 2008 12:21pm
Quoting doclouis
I had a great return...I sold off half for a 150pip profit....then I unfortunately ...
didnt adjust my limit order.......and my remaining lot brought in around 125...

I did nt jump back in Overall I was happy with the results

L
I am in that trade, change my style because of that long pips ifo USD
cheers
  • #40,863
  • Oct 22, 2008 12:23pm Oct 22, 2008 12:23pm
Quoting psiholog
i dont know if we will see a retrace any time soon. however...here's the chart of the day...its classic...i'm still amazed at how how one sided its been for so long and we could see a continuation.

what we have here is a clear descending channel with a false breakout many hours ago. now we are testing the upper wall and from the looks of it...there's no way there will be a retracement unless its broken. those horizontal lines are values that i show are what i consider pivotal points for determining future direction

Attachment
Thanks for that, I wish the fall continues truly
  • #40,864
  • Oct 22, 2008 12:27pm Oct 22, 2008 12:27pm
Quoting TradeWell
Oooooooooo Acumen, a little feisty today!
I didn't eat lunch yet... low blood sugar.
  • #40,865
  • Oct 22, 2008 12:39pm Oct 22, 2008 12:39pm
hi traders

i sent here from two weeks ago my calls for euro
i forecast the continuation of the down trend.
another breakout confirm the down trend in both euro and british pound.
as shown in my charts.
and here we go i opened one short position at 1.4700 area
and price now almost 1000 pip profit.
i like to thanks all other great traders to give me the chance to see my targets come true .
so the quistion now where the price is going?
the answer in the trend
the trend is down i wait for another 1000 pip before i close my positions.
as i said before no matter price go up will fall like rock
coz the trend is down
i hope you great traders have fun with price coz i already did..hahaha
and dont forget the fundamental aspect!!!!!
and to be clear to you
all the buyrs and the sellers are here in those threads and you know the forex basic rule
only 20% win and the other 80% loss
so try to figure it out by your mind
yea they fool you and Robb your money
they said the price is going up and you will find the price is going down and visa verse ,try to observe and make your mind work
in threads we call this move the {news}.

and i tried to warn you from time ago by sending the trend direction , i hope i did my part by good way.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1b.gif Size: 15 KB
  • #40,866
  • Oct 22, 2008 12:40pm Oct 22, 2008 12:40pm
Bull, Bear, Bull, Bear Make up your mind and go somewhere.....



Quoting DrogbaFx
Thanks for that, I wish the fall continues truly
  • #40,867
  • Oct 22, 2008 12:47pm Oct 22, 2008 12:47pm
Quoting SeaPip
Bull, Bear, Bull, Bear Make up your mind and go somewhere.....
here is another chart to show how truly unknown direction will be right now. overlapping fibs are as follows
light blue (this weeks high to low)
brown(this weeks low to current high)
dark green (current high to latest low)
also note the sideways triangle we are in and that the range is narrowing down, common before breakout

theres only one conclusion to be made from all this...we are approaching the end of the road (upper wall of descending channel) and breakout is right around the corner in the next few hours...direction...if anyone knows that...pure genius

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 36 KB


sidenote: one could say this is flag pattern again based on larger timeframes but the descending channel makes it difficult to assume that..i dont
Different opinions highly valued, ignorant to slander.
  • #40,868
  • Oct 22, 2008 12:47pm Oct 22, 2008 12:47pm
Quoting psiholog
i dont know if we will see a retrace any time soon. however...here's the chart of the day...its classic...i'm still amazed at how how one sided its been for so long and we could see a continuation.

what we have here is a clear descending channel with a false breakout many hours ago. now we are testing the upper wall and from the looks of it...there's no way there will be a retracement unless its broken. those horizontal lines are values that i show are what i consider pivotal points for determining future direction
Hi PSI, where have you been?
I studied your chart and agree in general, this NY session was beautiful to scalp, made 4 trades, all winners with average 20 pip on E/U.
Now as the triangle gets smaller I better stay out for a while, I’m watching for break and hold 1.2920 or 1.2830 to get a further direction may be in the asian session.
Have a nice trading afternoon
  • #40,869
  • Oct 22, 2008 12:48pm Oct 22, 2008 12:48pm
Quoting SeaPip
Bull, Bear, Bull, Bear Make up your mind and go somewhere.....
Probably as soon as the wedge is finished...
  • #40,870
  • Oct 22, 2008 12:48pm Oct 22, 2008 12:48pm
Quoting Jurrasic
1 I doubt, 1.20-1.22 believe quite likely.

Looks like a complex h&s forming on 5m-15m charts, base around 825.
How did you determine 1.20/.22? I also have this as a pivotal level but I want to compare methods...
"Timing Is Everything. Really I Swear It Is"
  • #40,871
  • Oct 22, 2008 1:03pm Oct 22, 2008 1:03pm
Quoting SeaPip
Bull, Bear, Bull, Bear Make up your mind and go somewhere.....
Well, as far as I have observed over the past two months...for the most time after such a drastic sell off the market got pretty quiet for some time...so I expect not too much for the rest of the week...of course...you never know...but the sell off started in Europe and ended in Asian session...todays Europe and NY sessions were already pretty quiet.
After a little "rest", we shall see whether the selling goes on or it is time for a retrace....

My humble two cent
  • #40,872
  • Oct 22, 2008 1:11pm Oct 22, 2008 1:11pm
My analysis on a 5min chart. We have a descending wedge (bullish), and a symetrical triangle pattern inside (neutral pattern), however the larger wedge pattern might prevale.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.JPG Size: 250 KB
  • #40,873
  • Oct 22, 2008 1:14pm Oct 22, 2008 1:14pm
Quoting big_pipin
My analysis on a 5min chart. We have a descending wedge (bullish), and a symetrical triangle pattern inside (neutral pattern), however the larger wedge pattern might prevale.
To me it looks like a symmetrical wedge, not a descending wedge.
  • #40,874
  • Oct 22, 2008 1:16pm Oct 22, 2008 1:16pm
Quoting TexasforEX
How did you determine 1.20/.22? I also have this as a pivotal level but I want to compare methods...
http://www.forexfactory.com/showpost...ostcount=40727
(It's not much of a method, as I trade intraday on 5m mainly, just academic speculation.. )
On the path to Enrichment.
  • #40,875
  • Oct 22, 2008 1:29pm Oct 22, 2008 1:29pm
Quoting Tiger Hunter
hi traders

i sent here from two weeks ago my calls for euro
i forecast the continuation of the down trend.
another breakout confirm the down trend in both euro and british pound.
as shown in my charts.
and here we go i opened one short position at 1.4700 area
and price now almost 1000 pip profit.
i like to thanks all other great traders to give me the chance to see my targets come true .
so the quistion now where the price is going?
the answer in the trend
the trend is down i wait for another 1000 pip before i close my positions.
as i said before no matter price go up will fall like rock
coz the trend is down
i hope you great traders have fun with price coz i already did..hahaha
and dont forget the fundamental aspect!!!!!
and to be clear to you
all the buyrs and the sellers are here in those threads and you know the forex basic rule
only 20% win and the other 80% loss
so try to figure it out by your mind
yea they fool you and Robb your money
they said the price is going up and you will find the price is going down and visa verse ,try to observe and make your mind work
in threads we call this move the {news}.

and i tried to warn you from time ago by sending the trend direction , i hope i did my part by good way.

Can you tell me the name of the indicator you have at the bottom of your screen and post it if possible?

Thank you.
  • #40,876
  • Oct 22, 2008 1:51pm Oct 22, 2008 1:51pm


Found my coffee anyway. Hey mike, you sound like I feel this morning. Ooops, it almost 2pm. Ok. my spot analysis... it's all down. Short the planet until it all hits bottom, then we'll see what's left... and trade that. Back later.

I have to go stand on a corner and ring a bell... you don't wanna quit your day job if your night job is trading forex...

And oh yeah, could you new guys please not quote ALL of tiger hutter huge print posts when all you want to do is ask him/them a question? He's on my ignore list, but when you quote them, I have to see them for a microsecond before I scream and can get scrolled past them.

He boiler plates those wretched things and changes the numbers every day on multiple threads. So what?
Attached Image
FUBAR...
  • #40,877
  • Oct 22, 2008 1:52pm Oct 22, 2008 1:52pm
1.2875=test of the upper wall of the descending channel...dun dun dun...moment of truth
Different opinions highly valued, ignorant to slander.
  • #40,878
  • Oct 22, 2008 2:05pm Oct 22, 2008 2:05pm
Quoting psiholog
1.2875=test of the upper wall of the descending channel...dun dun dun...moment of truth
what on the 15 min?

Take a step back and enjoy the view of the 2 or 4 hour...carving out a nice bottom??? hehe
  • #40,879
  • Oct 22, 2008 2:10pm Oct 22, 2008 2:10pm
Quoting cobraforex
Hi PSI, where have you been?
I studied your chart and agree in general, this NY session was beautiful to scalp, made 4 trades, all winners with average 20 pip on E/U.
Now as the triangle gets smaller I better stay out for a while, I’m watching for break and hold 1.2920 or 1.2830 to get a further direction may be in the asian session.
Have a nice trading afternoon
This have been one the most active range-bound days I think I ever remember, it went up and down 40-60 pips a dozen times before lunch today.

(slight exaggeration)
  • #40,880
  • Oct 22, 2008 2:17pm Oct 22, 2008 2:17pm
Quoting Jurrasic
http://www.forexfactory.com/showpost...ostcount=40727
(It's not much of a method, as I trade intraday on 5m mainly, just academic speculation.. )
That is what I figured you based it on. Good trades...
"Timing Is Everything. Really I Swear It Is"
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