losing always costs something my friend... but I hear you.
- #41,402
- Oct 23, 2008 10:42pm Oct 23, 2008 10:42pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
is this little run up tryin to knock out stops? 
- #41,403
- Oct 23, 2008 10:44pm Oct 23, 2008 10:44pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #41,406
- Oct 23, 2008 11:02pm Oct 23, 2008 11:02pm
I have better colourful lines
Check this out
Funny thing is that they really works.
Im in shock.
All these lines was drawn a few weeks ago.
Interesting. Isnt it ?
Next yellow circle is projected target and located in time
i am using a gann grid for support and resistance on a 15 min chart of gbpusd
what else can i use it for? without these complicated charts and diagrams?
thanks
- #41,407
- Oct 23, 2008 11:07pm Oct 23, 2008 11:07pm
- Joined Aug 2008 | Status: Fear makes us see who we really are | 4,822 Posts
They think they are smarter than I am.
- #41,408
- Oct 23, 2008 11:09pm Oct 23, 2008 11:09pm
The extension study on the 30min chart, which was posted hours ago, pegged this last low to the very pip! Anyway, for something more constructive...
It appears the Asian session takedown is complete with the low of 1.2757 and the now strongly rising 30 minute candle. This may be the beginning of a nice bull run over the rest of the day. If so, my caution is to vacate any long positions well before the end of the day. If my hypothesis is correct, professional traders will be selling into the last stages of any substantial bull run today. If there is a gap down on the open next week, trapped longs will be in bad shape.
- #41,412
- Oct 23, 2008 11:18pm Oct 23, 2008 11:18pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
So let me summarise....We will see bull from now till end of the day......then RT get into the bull trap....then next week gap down?
All I am saying is this.....once again the Asian session institutional traders have slammed it down and loaded up so they could benefit by the following upswing into the Euro and US sessions. This has been ranging. It is a 300 pip range now. A bull move does not have to break this range out if it starts close enough to the bottom. This last slam dunk took us close to the bottom. So now, everyone is thinking to trade the intra-range bull move, which if it breaks out of the top of the range gives us icing on the cake.....
And the professional traders may be loading up on the way up, but my guess is they will unload in the last stages of the run while they keep pumping it up on low volume trades.....tricking retailers into holding onto their long trades for a breakout. Or, the professional traders at hedge funds may indeed pump this into a breakout to cement the deceipt!
So my caution to all is to benefit from whatever bull run we may get, but strongly consider vacating ALL TRADES before the close!!!!!!!
- #41,413
- Oct 23, 2008 11:20pm Oct 23, 2008 11:20pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
a last thought here before i pass out for the evening...
just looked at some charts while things continue to inch down...
we're at some very critical support levels on UJ from last march lows. GU which I don't trade anymore is just above 1.60xx. we've blown thru some significant ej and gy levels , not to mention eu and GU.
IF, IF the really big boys were going to make a BIG move, it's almost now or never it might seem. The planet has never collectively been at this place before, so there's no road map or S.O.P. manual for what's around the corner. The REALLY BIG DOGS may just now be coming out to play.
I'm not just talking about the banks here or the hedge fund boys. We're talking leaders of nations getting chummy with the largest financial houses (left) on the planet and working together with the CB's toward a common goal they're still trying to hammer out. Remember, the FED is NOT a gummint operation. Things are getting very blurred here in many ways. Careful where you step... CLICK is not what you want to hear.
We don't and won't know what's really going on behind all those closed doors until someone comes out and announces it. What is the most radical thing you can imagine happening?? Have you even given it any thought?
Be very cautious about what you think will happen next. M1 got hit on EU like I expected. Other targets got hit as well and I'm satisfied with myself. That tells me I'm basically working ok, even tho I feel like crap. I'm feeling a little euphoria setting in after a long succesful week. Gonna have that glass of merlot or two. But it's just now dawning on me, since I've stepped back and stared at the screen from a few yards away where we really are.
Whatever happens next, it's a move you really don't want to be on the wrong side of.
just looked at some charts while things continue to inch down...
we're at some very critical support levels on UJ from last march lows. GU which I don't trade anymore is just above 1.60xx. we've blown thru some significant ej and gy levels , not to mention eu and GU.
IF, IF the really big boys were going to make a BIG move, it's almost now or never it might seem. The planet has never collectively been at this place before, so there's no road map or S.O.P. manual for what's around the corner. The REALLY BIG DOGS may just now be coming out to play.
I'm not just talking about the banks here or the hedge fund boys. We're talking leaders of nations getting chummy with the largest financial houses (left) on the planet and working together with the CB's toward a common goal they're still trying to hammer out. Remember, the FED is NOT a gummint operation. Things are getting very blurred here in many ways. Careful where you step... CLICK is not what you want to hear.
We don't and won't know what's really going on behind all those closed doors until someone comes out and announces it. What is the most radical thing you can imagine happening?? Have you even given it any thought?
Be very cautious about what you think will happen next. M1 got hit on EU like I expected. Other targets got hit as well and I'm satisfied with myself. That tells me I'm basically working ok, even tho I feel like crap. I'm feeling a little euphoria setting in after a long succesful week. Gonna have that glass of merlot or two. But it's just now dawning on me, since I've stepped back and stared at the screen from a few yards away where we really are.
Whatever happens next, it's a move you really don't want to be on the wrong side of.
FUBAR...
- #41,414
- Oct 23, 2008 11:20pm Oct 23, 2008 11:20pm
- Joined Jul 2008 | Status: Trader | 1,722 Posts
My thanks to Bemac, AK4X, FelixCatWa, and TraderatHome for your insights during the very exciting and stressful evening. You guys post some dynamite charts and make very accurate predictions. I had an old short (2790) that was giving me huge consternation as we got to 3005, headed to 3353 or even 3529.
I believed the EUR/USD still had a big short in it, but based on my limited experience, I have to say it was mostly hope and a gut feeling. Reading a lot of what you guys posted and watching the candles, I was able to get all the way from 3005 to 2957 for +30 PIPs on what very easily could have been a margin call in 200 more PIPs.
Thanks to you guys for helping, even when you didn't know you were. My advice to newbies? Study Forex like it's a college course. As Acumen has often said, trade a demo account until you double it. Pay close attention to the above names, along with 4 or 5 others on this thread. There are a lot of experienced, helpful guys on here. Don't ask a lot of silly, distracting questions, like "where's it going"? These guys are trying to make money, too, so observe quietly, make your own decisions based on your studies, andvalidate it against what these folks post.
Best to all.
Ed in Virginia
I believed the EUR/USD still had a big short in it, but based on my limited experience, I have to say it was mostly hope and a gut feeling. Reading a lot of what you guys posted and watching the candles, I was able to get all the way from 3005 to 2957 for +30 PIPs on what very easily could have been a margin call in 200 more PIPs.
Thanks to you guys for helping, even when you didn't know you were. My advice to newbies? Study Forex like it's a college course. As Acumen has often said, trade a demo account until you double it. Pay close attention to the above names, along with 4 or 5 others on this thread. There are a lot of experienced, helpful guys on here. Don't ask a lot of silly, distracting questions, like "where's it going"? These guys are trying to make money, too, so observe quietly, make your own decisions based on your studies, andvalidate it against what these folks post.
Best to all.
Ed in Virginia
Up or down, gimme a ticket
- #41,415
- Edited 11:45pm Oct 23, 2008 11:22pm | Edited 11:45pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #41,416
- Oct 23, 2008 11:27pm Oct 23, 2008 11:27pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
...but what would you do if spot a sell and most of the guru's here are all saying its already a buy trend.
i guess for new guys like me,we stay out and miss the bus. anyone with a good word of advice on this
FUBAR...
- #41,417
- Oct 23, 2008 11:38pm Oct 23, 2008 11:38pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
moment of truth right here....we break that upper wall and 1.3815(23.6%retracament)...here comes 1.2920 (61.8%retracement) for this last move high to low....we dont break it...here comes new lows and my stop loss...good luck pippin all
Different opinions highly valued, ignorant to slander.
