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  • #43,521
  • Nov 5, 2008 11:30am Nov 5, 2008 11:30am
Quoting psiholog
good morning all (west coasters at least)...woke up to see i made the correct choice to not leave a short running overnight. in any case.....im not to surprised by current PA...i still think its going to drop big time probably tonight for one reason only. what appeared to be a h&s on 1h chart at some point...inverted h&s on 4h chart at some point...is really just a big triangle of indecision. we havent broken it up yet which allows me to hold onto my short bias as ecb rate cuts is tonight. price action has also remained in the upper half of this triangle for the last 2 days and like i always say....when one wall is hugged...the pa will crash violently to the other side. i am not doing anything...
Good morning, didn't know you were a fellow left coaster.....sleep hours are challenging and contradict best market hours...
  • #43,522
  • Nov 5, 2008 11:40am Nov 5, 2008 11:40am
Quoting altrader
He is awesome. I made a post asking if there was a way to increase the font size in MT4, and he made a program in MT4 to make it big to read for me. He shared this indicator with everyone in the thread.
Hi altrader
I didn't make the indicator, I'm a big sh$t when it comes to coding (still learning), the credit belongs to FerruFX that recoded it for me to have only 5 digits shown on it, the 6 digits made me crazy.
Thanks for the nice words
  • #43,523
  • Nov 5, 2008 11:41am Nov 5, 2008 11:41am
Quoting big_pipin
I was going to buy near 28, and this trade slipped through my fingers!

got a buy order at 2974
just went long 2974 on this pullback
  • #43,524
  • Nov 5, 2008 11:42am Nov 5, 2008 11:42am
Now on 15 minute chart......
Attached Image (click to enlarge)
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  • #43,525
  • Nov 5, 2008 11:43am Nov 5, 2008 11:43am
Quoting HarshFX
http://www.forexfactory.com/attachme...1&d=1225863465
Went the same direction as I've forecast 3116, only not to the target that I have in mind yet. I still think we will 33xx in the days to come. GL
  • #43,526
  • Nov 5, 2008 11:44am Nov 5, 2008 11:44am
I am still waiting for a retacement top (If I am reading EW's correctly) but on the 4H chart a zig zag is in place and has moved to 78.6% of previous swing down (B-C) and 61.8% projection of first swing off bottom (A-B).

I have marked time fibs in thick green lines - lower one is 100% of A-B swing and upper one is 61.8% of B-C swing. Times are 01:00 ET thursday and 21:00 ET Wednesday.

So I think either a top has been made or will be in the next couple of bars.
Attached Image (click to enlarge)
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  • #43,527
  • Nov 5, 2008 11:45am Nov 5, 2008 11:45am
Quoting TradeWell
Good morning, didn't know you were a fellow left coaster.....sleep hours are challenging and contradict best market hours...
your right...there was a time when i could be up 24/7 not too long ago..now...midnight (euro session start) comes and i pass out faster then i could ever imagine as i am an insomniac ...must be the weather and all the rain lately...but yea...the trading hours is one of the big reasons im moving back to europe eventually...the right timezone is an edge in itself and trading half tired is a big mistake for us all
Different opinions highly valued, ignorant to slander.
  • #43,528
  • Nov 5, 2008 11:51am Nov 5, 2008 11:51am
Quoting psiholog
your right...there was a time when i could be up 24/7 not too long ago..now...midnight (euro session start) comes and i pass out faster then i could ever imagine as i am an insomniac ...must be the weather and all the rain lately...but yea...the trading hours is one of the big reasons im moving back to europe eventually...the right timezone is an edge in itself and trading half tired is a big mistake for us all
Yeah my wife is European too so we would like to move there also. Good thing is with trading you can do it anywhere. Now would be good - it's a good time to buy homes there!
  • #43,529
  • Nov 5, 2008 11:55am Nov 5, 2008 11:55am
Quoting geojams
It is nice to see another DeMark TL users here. I've used them successfully on time frames from M15 on up. Used along with price projections, pivot points, and candle sticks, they are extremely reliable.
For the ones that don't know much about T. DM lines here is an indicator that draws the lines and shows possible targets, really interesting indi.
I don't remenber where I got it from.
The first Mouteki method was based on TDM, I don't know if the thread still excist.
Attached File(s)
File Type: mq4 Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.mq4   22 KB | 390 downloads
  • #43,530
  • Nov 5, 2008 11:56am Nov 5, 2008 11:56am
classic retracement within triangles...so simple its not worth trading. drawing fibs from last low to current high...that spike down hit 61.8% almost to the pip. such spike volume is usually filled though with real volume so i may consider a trade there...since 61.8% is usually good retracement before continuation up i may consider a small long if it gets retapped again and confirmed as strong current support. we may reach 1.3150 if that happens...if it gets broken...here comes 1.2852 again...

Attached Image (click to enlarge)
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Different opinions highly valued, ignorant to slander.
  • #43,531
  • Nov 5, 2008 12:15pm Nov 5, 2008 12:15pm
We had a nice entry today on the Turhovach system on 15M, the PA with green candles and yellow MA line crossed the Hull line and above the cloud, retest the MA line, a perfect about 150 pips trade.
Attached Image (click to enlarge)
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  • #43,532
  • Edited 12:41pm Nov 5, 2008 12:29pm | Edited 12:41pm
looking good

edit:
frankly eurusd has been standing up fairly well against oil and equity prices. Kind of bullish to me.
  • #43,533
  • Nov 5, 2008 12:30pm Nov 5, 2008 12:30pm
Quoting cobraforex
For the ones that don't know much about T. DM lines here is an indicator that draws the lines and shows possible targets, really interesting indi.
I don't remenber where I got it from.
The first Mouteki method was based on TDM, I don't know if the thread still excist.
I wish there was more on forexfactory about using DeMark TLs, but it seems the few threads on it die out pretty quickly. I don't know why. Either they are too easy to use or people are not interested in such an easy way to trade. Regardless of which it is, I will say the real power of the DeMark TLs comes in correctly applying the three qualifiers. The way DeMark explains the qualifiers is not the easiest thing to get your head around. Once you do though, they are fairly easy to understand and apply. I can easily eyeball Qualifier 1 and 2, and sometimes 3.

Good luck to all and yes, as a west coast trader, I will say the off hours are one of the biggest hurdles to trading I have to deal with.
  • #43,534
  • Nov 5, 2008 12:34pm Nov 5, 2008 12:34pm
Quoting TIckerShuffl
looking good
Yeah, really clear signal.
The bad: had some glasses with a good friend of mine and woke up late, so I didn't see it on time to trade it.
That's live, will come another good trade.
  • #43,535
  • Nov 5, 2008 12:37pm Nov 5, 2008 12:37pm
DeMark TL's and qualifiers are best used on 1H and higher timeframes. 4H is more realistic still.
  • #43,536
  • Nov 5, 2008 12:44pm Nov 5, 2008 12:44pm
S&P and Dow down over 3%.

So where are the conspiracy theorists crying about how the EU is not also going down like the way it has been lately moving in lock-step with equities?

Give it some more time, it should happen before long.

Oh crude down over 6% too.
  • #43,537
  • Edited 1:06pm Nov 5, 2008 12:50pm | Edited 1:06pm
In the last 24 hours or so we are in scalpers paradies, a 150 pips range shown in the rectangle.
Sorry for the off topic, it is for TickerShuffl who like to trade AUD as well.
Attached Image (click to enlarge)
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  • #43,538
  • Nov 5, 2008 1:21pm Nov 5, 2008 1:21pm
Quoting SunTrader
DeMark TL's and qualifiers are best used on 1H and higher timeframes. 4H is more realistic still.
What I usually do is look at the higher TFs for a general sense of direction and then base my entry on the M15. I then judge my exit on a higher TF. If I am already short based on an entry on the M15 and then there is a qualified Lower Trend Line break on the H1, I let the trade ride. If the H1 does not qualify, I use pivots or maybe price action to set an exit point. Of course this is very generalized. I have more criteria that I use.

Good luck to all.
  • #43,539
  • Nov 5, 2008 1:25pm Nov 5, 2008 1:25pm
Quoting eddiemiller
From what i understand today, the head and shoulders pattern is lloking downside till 1.2450
I wouldn't put a whole lot of credence in that supposed H&S pattern. First of all, a true head and shoulders pattern, to be one, occurs at the TOP of a trend, not at the BOTTOM which is the case with the one you're showing here. Secondly, that is not the greatest looking H&S pattern, even if it was one. I certainly wouldn't be making any trading decisions based on the "pattern" shown here.
  • #43,540
  • Nov 5, 2008 1:37pm Nov 5, 2008 1:37pm
Quoting acumen
This should be the new mantra for our society.

If you fail... IT'S YOUR FAULT.

It's really that simple.
No. Say it aint so. Can't be. What will everyone do if they can't blame a trade gone bad on something other than their own bad judgement? My God - the brokers, the PPT, the computer gremlins, software glitches, inadvertent key strokes, etc., etc., etc. - what will they do? They'll go out of business. Lose relevance. The world will be unrecognizable. Oh nooooooooo...
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