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  • #44,061
  • Nov 7, 2008 1:12am Nov 7, 2008 1:12am
downtrend broken...retest successful...this pattern appears to be like an inverted h&s....strong resistance at 1.2750 broken and appears to be support now....next target 1.2850 possibly..good pippin all my last post until ny session as im most likely to fall asleep

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Different opinions highly valued, ignorant to slander.
  • #44,062
  • Nov 7, 2008 1:26am Nov 7, 2008 1:26am
Quoting traderathome
This Bloomberg link has it all......
http://www.bloomberg.com/markets/stocks/futures.html

Thanks. It is in my favorites list now.
  • #44,063
  • Nov 7, 2008 2:15am Nov 7, 2008 2:15am
I love trading forex! It never sleeps! And it's so nice to see this happening just before your eyes!
http://screencast.com/t/JSb9T4vt
  • #44,064
  • Nov 7, 2008 2:33am Nov 7, 2008 2:33am
Quoting frankfxtrade
I love trading forex! It never sleeps! And it's so nice to see this happening just before your eyes!
http://screencast.com/t/JSb9T4vt
Best post of the week
  • #44,065
  • Nov 7, 2008 2:45am Nov 7, 2008 2:45am
Quoting psiholog
downtrend broken...retest successful...this pattern appears to be like an inverted h&s....strong resistance at 1.2750 broken and appears to be support now....next target 1.2850 possibly..good pippin all my last post until ny session as im most likely to fall asleep

Attachment
good call. i only got 15 chickened i out when stopped moving.
those who can, do. those who cant, talk about those who can
  • #44,066
  • Nov 7, 2008 3:12am Nov 7, 2008 3:12am
Quoting emda
I support the idea of the triangle support...
damn it was nearly perfect... but my order was not triggered by 1 pip
  • #44,067
  • Nov 7, 2008 3:27am Nov 7, 2008 3:27am
Quoting traderathome
"hope all of this helps"

Nope. It does not. It is all bull sh_t! Stock market is down because oil is up. Stock market is down because oil is down.....etc. It is all bull sh_t. The powerful rich have the stock market as their personal poker game. Hedge funds and hedge fund depts in firms make sure prices go where the big boys want them to go, regardless of all else. I have seen hedge funds take stock prices to BELOW BOOK VALUE, and for no other reason than to send a message to others that they have that power (oh, and to make unGodly profits, too). Forex is similar, but with national currencies and national solvencies at stake, even the Big Boys have rules here. But you can be sure they will move currencie pairs up and down, even opposite logic....because the only logic here is their logic of how to make money!
When I started out I had the misconception that that it was a struggle to find fair value. OH how naive I was. Trying to find the why behind the moves is 50% of the time, if not more, pointless. The charts, the charts, and nothing but the charts. The moment I stopped looking for what price should do, and focused only on what it IS doing, that is when I started hitting 75-80% winners. I almost exclusively scalp support and resistance bounces now. 8-12 trades a day. I used to dread consolidations, now I welcome them. 1 min charts. To me 15-30 pips IS a home run, I usually take 5 to 10pips and close out and smile. I take the money and run, often.

example Just sold, at 2.841 and took profit at 1.2824 based on PA of of trendlines drawn yesterday. It took 15 seconds to get my stop loss in front of my entry and 5 or 6 minutes to take profit, that's the kind of exposure I like to "their logic".
  • #44,068
  • Nov 7, 2008 3:30am Nov 7, 2008 3:30am
Quoting SerpentDove
When I started out I had the misconception that that it was a struggle to find fair value. OH how naive I was. Trying to find the why behind the moves is 50% of the time, if not more, pointless. The charts, the charts, and nothing but the charts. The moment I stopped looking for what price should do, and focused only on what it IS doing, that is when I started hitting 75-80% winners. I almost exclusively scalp support and resistance bounces now. 8-12 trades a day. I used to dread consolidations, now I welcome them. 1 min charts. To me 15-30 pips IS a home run, I usually take 5 to 10pips and close out and smile. I take the money and run, often.

example Just sold, at 2.841 and took profit at...
amen
those who can, do. those who cant, talk about those who can
  • #44,069
  • Nov 7, 2008 3:30am Nov 7, 2008 3:30am
From Dailyfx
09:25 EUR/USD: Initial Foray Into 1.2850s Fails London, November 7. The foray into the 1.2850s has only served up better levels to sell and this has quickly been set upon by bears and fresh supply has already depressed the price back into the 1.2820s. Elsewhere, according to the results from the latest ECB bank lending survey - most expect to see further tightening of various aspects of the credit market into the year end.
  • #44,070
  • Nov 7, 2008 3:40am Nov 7, 2008 3:40am
i took a small short position.. we will c
those who can, do. those who cant, talk about those who can
  • #44,071
  • Nov 7, 2008 3:42am Nov 7, 2008 3:42am
How I traded this pair last night. I was waiting for a bounce off of the 4 Hr UTL which forms the bottom of this Triangle. I was waiting for either a bounce off the 1.2615 / 1.2640 area or a break short of it. I put a horizontal line at just below the 1.2600 psyc. level. I ended up placing the long trade, ( Which I was leaning toward. ), after the candle, ( Green arrow ) rose above the open of the candle, ( Red arrow ). I would have gone short with a close below the 1.2600 level.

Why was I leaning toward the long, simple, the most devestating confirmation you can get, especially on the 4 Hr and the Daily. I saw the hidden divergence, ( Yellow Lines ), on the 4 hr T/F. I also posted that there was a possibility of this divergence forming before the 11-07-08 00:00 candle was finished forming. To read up on divergence go here and it will explain it all.

http://www.babypips.com/school/hidden_divergence.html

Jim
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  • #44,072
  • Nov 7, 2008 4:06am Nov 7, 2008 4:06am
First target 2890, second 2999

Quoting Rocroy
yep, 2655 seems to be the reversal point
  • #44,073
  • Nov 7, 2008 4:16am Nov 7, 2008 4:16am
Quoting psiholog
the triangle that has been going on all week has narrowed down to a 400 pip range today. 12650 to 1.3050 or so. in other words the midway point is 1.2850. that is my target for this particular trade and if its not reached...no worries as i dont care. if we break that 1.2850 level which coincides with resistance 1....i must truly consider a break to the upside of the triangle as it would be the 4th time that upper wall gets tested

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Different opinions highly valued, ignorant to slander.
  • #44,074
  • Nov 7, 2008 4:32am Nov 7, 2008 4:32am
Quoting Algirdas
This Update little more accurate.
Very small amount and very close Stops.
Also watch how all USD pairs correlate.

EUR/USD Buy near 1.2677
GBP/USD Buy near 1.5555
AUD/USD Buy near 0.6606
NZD/USD Buy near 0.5848

USD/CAD Sell near 1.2025
USD/CHF Sell near 1.1801
USD/JPY Buy near 97.33
It was next very small trade this week. Now take 1/4 profit 100-200 pips and move Stops to ENTRY.
3/4 I'll gamble ahead the news.
{Promotion Removed}
  • #44,075
  • Nov 7, 2008 4:43am Nov 7, 2008 4:43am
The pair can retrace or turn at any of these levels.
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  • #44,076
  • Nov 7, 2008 4:44am Nov 7, 2008 4:44am
in the news where the euro will headed for
coz in daily chart we r still in the bearish position
according to the job data today it will be very bad usually euro will be strength but today will it happen ???
  • #44,077
  • Nov 7, 2008 4:53am Nov 7, 2008 4:53am
alg, do you think that eur and gbp will rise again?
thx
Money management is good for your health...
  • #44,078
  • Nov 7, 2008 4:55am Nov 7, 2008 4:55am
but it looks bullish to me on 4 hr chart...
at least for hours... target @1.3021 again... is it possible?
but don't take any trade based on my comment...
and don't get me misleading you...
it's only my opinion...

Quoting kongsar168
in the news where the euro will headed for
coz in daily chart we r still in the bearish position
according to the job data today it will be very bad usually euro will be strength but today will it happen ???
Money management is good for your health...
  • #44,079
  • Nov 7, 2008 5:22am Nov 7, 2008 5:22am
Quoting 13thheaven
but it looks bullish to me on 4 hr chart...

Why do you think so?

I wonder what you are seeing that I am not
  • #44,080
  • Nov 7, 2008 5:23am Nov 7, 2008 5:23am
Quoting hard1head1
The pair can retrace or turn at any of these levels.
this is one of the funniest post I have ever read
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