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  • #44,421
  • Nov 10, 2008 10:39am Nov 10, 2008 10:39am
Quoting TradeWell
I don't normally cuss, but it's a b*tch trading today!
LOL, perhaps I will go to that poker game tonight. After all my luck must change sooner or later......
  • #44,422
  • Nov 10, 2008 10:40am Nov 10, 2008 10:40am
Quoting psiholog
please do not base any of your trades on what i do/say....just use me as a second opinion but think logically for your entry/exit points
the only reason i post what i do is to give insight to others into my thought process and see how the simple things in trading are the most beneficial...as you can see...no indicators on my charts except interpretation of pa/supports/resistances/candlesticks/patterns
Liking the chart and the method. Perhaps simple is better for my mind at least.....

Would you PM me your template please?
  • #44,423
  • Nov 10, 2008 10:40am Nov 10, 2008 10:40am
Quoting vulture
Price dont move in one straight line.. maybe heavy stop being taken out.. we dont know. note: 1 min can really test your emotion.
Exactly. 1M is a perpetual rollar coaster. Should only be used for extreme scalping or as a entry trigger trading the 5M chart.
  • #44,424
  • Nov 10, 2008 10:43am Nov 10, 2008 10:43am
Quoting SunTrader
Exactly. 1M is a perpetual rollar coaster. Should only be used for extreme scalping or as a entry trigger trading the 5M chart.
Agreed. 1 min tests your patience better than anything else out there.
  • #44,425
  • Nov 10, 2008 10:43am Nov 10, 2008 10:43am
Notice the congregatation of candles within the 38 to 62% fib ext. area. It makes me think of the old railroads loading on cars for the additional passengers who want to take the next trip (down).....
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  • #44,426
  • Nov 10, 2008 10:46am Nov 10, 2008 10:46am
It's gonna be a great afternoon.
Up or down, gimme a ticket
  • #44,427
  • Nov 10, 2008 10:47am Nov 10, 2008 10:47am
up 74 pips today, just closed the trade

but market is a bitch today...very dangerous..just grab those pips and RUN!!! =D
  • #44,428
  • Nov 10, 2008 10:49am Nov 10, 2008 10:49am
Quoting SpecialEd
It's gonna be a great afternoon.
yep from the looks of pa that lower wall of the triangle will get tested (around 1.2695)...i closed my last position at 40pips...i found out that i am indeed cocky and am punishing myself until i snap out of it.....all good....almost 200pips for the day in a market that didnt do anything...man im cocky...be back later all
Different opinions highly valued, ignorant to slander.
  • #44,429
  • Nov 10, 2008 10:50am Nov 10, 2008 10:50am
right again!
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  • #44,430
  • Nov 10, 2008 10:54am Nov 10, 2008 10:54am
The gap is filled. And sure looks like the start of something new....

My 2 cents worth says the gap up across the board on currencies was pure manipulation so the big boys would have ample opportunity to load up high on short positions for the next ride down. It could be.
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  • #44,431
  • Nov 10, 2008 10:55am Nov 10, 2008 10:55am
You think they are going to grind it down to that lower wall?
  • #44,432
  • Nov 10, 2008 11:05am Nov 10, 2008 11:05am
Yes, the BB pinch drawn on the 4 hour chart may be premature. But none the less, it is interesting that the 162%, 262% and 400% fib extensions all fall near whole numbers.....1.2200, 1.1900 and 1.1500 respectively.

Yes, very interesting.
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  • #44,433
  • Nov 10, 2008 11:10am Nov 10, 2008 11:10am
Another test of 1.28 coming?
  • #44,434
  • Nov 10, 2008 11:16am Nov 10, 2008 11:16am
Quoting TradeWell
Another test of 1.28 coming?
A fib level at 1.2795, so why not?
  • #44,435
  • Nov 10, 2008 11:21am Nov 10, 2008 11:21am
Here's my 1.618 pips worth. (Where'd I put the Kleenex?)

The nice thing about trading with the trend (8hr to daily) is that even when you have a trade or two underwater, as long as you tread very carefully, there's a better than great chance it'll recover, especially in a market still being driven by a few of the most basic fundamentals there are or ever have been in the history of the planet... fear, greed, supply and demand.

What's not to like and why would anybody stand in front of that train?

It's not that trend is my friend (what baloney..), it's more that trend doesn't have any idea who I am and could care even less. It is what it is, and it cares not if I tag along and sweep up the crumbs it leaves in it's wake, whether I ignore it completely, or whether I get in front of it. It doesn't even feel the bump when it rolls over me... Feel that.

It's a fickle thing, and may not always (or even rarely) meet my expectations as to time and movement, but it is dependable in it's own way, and I stake my pips on it. It also ruthlessly punishes any serious misinterpretations or misperceptions I may have of it, w/o remorse.

Loser EJ swing trade (notice i did not say scalp or short term) up to 300 pips in the red since last Friday morning just gone green and turned a 5 pip profit to close. Paid for it's own swap even... Now it's off the table in the green column and I move on...
FUBAR...
  • #44,436
  • Nov 10, 2008 11:21am Nov 10, 2008 11:21am
Quoting SunTrader
Exactly. 1M is a perpetual rollar coaster. Should only be used for extreme scalping or as a entry trigger trading the 5M chart.
absolutely right!
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #44,437
  • Nov 10, 2008 11:26am Nov 10, 2008 11:26am
Quoting ak4x
(Where'd I put the Kleenex?)
It's over there by the chalk...
  • #44,438
  • Edited 11:59am Nov 10, 2008 11:43am | Edited 11:59am
Quoting ak4x
Here's my 1.618 pips worth. (Where'd I put the Kleenex?)

The nice thing about trading with the trend (8hr to daily) is that even when you have a trade or two underwater, as long as you tread very carefully, there's a better than great chance it'll recover, especially in a market still being driven by a few of the most basic fundamentals there are or ever have been in the history of the planet... fear, greed, supply and demand.

What's not to like and why would anybody stand in front of that train?

It's not that trend is my friend (what baloney..), it's more that trend doesn't have any idea who I am and could care even less. It is what it is, and it cares not if I tag along and sweep up the...
I too, ak4x, have been trading EJ, and was red thru this manipulated gap up (so the big boys could add shorts up there for the next ride down). But I carefully added to my shorts during the period. Now, all green big time. Looking for a strike down to the 124.00 area.

Edit: I am offloading my shorts as this goes.....124.55 buy to take profit, 124.39 buy to take profit, and final I will decide as this goes. Maybe offload at 124.29 or hold if I think it might strike all the way to 124.00...offload with a buy to take profit at 124.07.

Edit: During this pullback upwards, adding shorts at 124.75 and 124.88 if it goes up there.
  • #44,439
  • Nov 10, 2008 11:53am Nov 10, 2008 11:53am
Well I keep adding small longs on the way down. As I see it, 1,30 is possible this week, at least to my charts. (Stops are @1,2620 in case you want to stop-hunt my positions )

We'll see, 4,2 more days to go
Greed and impatience are our greatest enemies.
  • #44,440
  • Nov 10, 2008 12:07pm Nov 10, 2008 12:07pm
AL alhamdulillah (thank god) for such progress i found in Da market.

trade assessment:
today was very good to my analysis (as always).

i forecast @market open yesterday by the continuation of the down trend of both euro+cable and here we are . today both charts was bearish .

for who talk about trend reversal in euro+cable, he is dreaming and will suffer loose coz euro+GBP will suffer long period weakness against dollar .

trade well and have fun.
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