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  • #45,321
  • Nov 13, 2008 6:30pm Nov 13, 2008 6:30pm
Quoting big_pipin
whats the average holding time for your trades?..few hrs?
Nooo - that would be pushing it for me.
I'd say 30-45min is the average.
  • #45,322
  • Nov 13, 2008 6:39pm Nov 13, 2008 6:39pm
Quoting ak4x
So now I watch and scalp, or just watch. you always watch... off to dinner.
Watching and piping, nice early entrance, all rules met on 1M and run on 5M.
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  • #45,323
  • Nov 13, 2008 6:42pm Nov 13, 2008 6:42pm
Quoting gatorinla
here one u might be interested in.. look at your close and open prices.. see the pips? my roleover is 4pm central.. if i get in 5mn before 4 in the direction of my 720mn light 12hr chart whatever i got light.. if you have a strong chart pointing in a direction its an easy way to get pips.. the rule is strong direction chart plus no major news on that pairs cross 12 hour pryer. and you cant be close to a sup/res when you enter in your direction anyway 5m before close enter position with a 10 pip tp. your sl is up to you but i use 25sl.. and sometimes...

It sounds like you are a wizetrade user. Is that correct? I tried them for awhile but always fell back on MT4. Anyway, thanks for the tip. I'll check it out.
  • #45,324
  • Edited 6:43pm Nov 13, 2008 6:42pm | Edited 6:43pm
Great... just great....... now I found myself doubting myself:

Quoting Algirdas
New Update:

EUR/USD Buy near 1.2593
GBP/USD Buy near 1.4561
AUD/USD Buy near 0.6499
NZD/USD Buy near 0.5627

USD/CAD Sell near 1.2295
USD/CHF Sell near 1.1947
USD/JPY Buy near 96.93
From what I see it will go down further (it's just the way my chart is set and the way I am interpreting it)... and I was comfortable with that and going to stay out as it still seems choppy.......

...... then you post and having seen everything else you have said in recent days paying of by 00's of pips I am not sure what to do.

Perhaps I will set one up before I got to bed......
  • #45,325
  • Nov 13, 2008 7:20pm Nov 13, 2008 7:20pm
Nikkei up but oil down.
  • #45,326
  • Nov 13, 2008 7:33pm Nov 13, 2008 7:33pm
Again interesting the AK4X MA chart on E/Y, that gave me enough reason to take profit on my position on 38.2 fib => 1.2730. Not a run but.....

Done for the moment, see you guys later after a small rest.
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  • #45,327
  • Nov 13, 2008 7:36pm Nov 13, 2008 7:36pm
Last night, an unusual pattern posted on the 1' just before the e/u went wild. A pattern looking like it showed in the last hour. This mean anything?
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  • #45,328
  • Nov 13, 2008 8:09pm Nov 13, 2008 8:09pm
Quoting ha-pattern
Last night, an unusual pattern posted on the 1' just before the e/u went wild. A pattern looking like it showed in the last hour. This mean anything?
when a strong support gets tapped several times then price action quickly retreats but then continues to push towards that support...eventually it will give....even if later on price action reverses direction...same goes for resistances...your images show that scenario and can also be seen now on the 15min chart with the 1.2725 support (tapped 3 times and now price slowly going towards it again). chances are it will give way but this doesnt always occur so id be careful in shorting as the trend right now is strongly up
Different opinions highly valued, ignorant to slander.
  • #45,329
  • Nov 13, 2008 8:16pm Nov 13, 2008 8:16pm
Quoting geojams
It sounds like you are a wizetrade user. Is that correct? I tried them for awhile but always fell back on MT4. Anyway, thanks for the tip. I'll check it out.
no just observant.. its not the holy grail.. check it out c what you think
those who can, do. those who cant, talk about those who can
  • #45,330
  • Nov 13, 2008 8:17pm Nov 13, 2008 8:17pm
Simple as pumpkin pie. We had a retracement..... a retracement only back to the Daily DTL. Pair broke the Major Daily UTL... Finally, then tested the underside of it and now we shall see. A break of the DTL to the high side will signal a major reversal, however, this could be another bounce short off the Daily DTL.
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  • #45,331
  • Nov 13, 2008 8:17pm Nov 13, 2008 8:17pm
first 25% taken off an ej add-on short from 124.82 at 123.60 for 122 piparinskis...

several others are getting ripe.
FUBAR...
  • #45,332
  • Nov 13, 2008 8:25pm Nov 13, 2008 8:25pm
Quoting cobraforex
Watching and piping, nice early entrance, all rules met on 1M and run on 5M.
Hi Cobra

Just to check with u, why u did not enter based on the previous peak (circle in yellow) since there is also a cross of cyan line on hull and cloud, and PA below cloud?
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  • #45,333
  • Nov 13, 2008 8:25pm Nov 13, 2008 8:25pm
Waiting for the break of 1.2725, the bounce off 1.270 area and then a short order - not sure where but somewhere between 1.2765 and 1.2785 would be a good place to look for an entry. Probably take partial profit around 1.265.

In my opinion, we can go two ways from here.
A retest of the upwards trendline connecting the lows from oct 27, nov3, nov 7 and today, or the continuation of the downtrend connecting highs from oct 15, oct 28, nov 4, today.

I was expecting more reaction off the break of the latest big triangle downward and it seemed to almost make a double low, visible off the daily. This bounce up was unexpected, but I still have a short bias. I wont change my mind until 1.2936 is broken, and even then I wont be sure.

I know the euro is trendy, but a move this powerful down needs a correction, right? If I had to guess where it would go, 1.34 - 1.36 would be it. Its a good resistance area as well as a nice 50 fib retrace from September 24th.

Lets hope next week gives more direction as I am sick of this consolidation, even with the huge volatility. I do not like this sort of market.
  • #45,334
  • Nov 13, 2008 8:26pm Nov 13, 2008 8:26pm
Quoting geojams
It sounds like you are a wizetrade user. Is that correct? I tried them for awhile but always fell back on MT4. Anyway, thanks for the tip. I'll check it out.
the gbp was a good set up for that stategy is was in a trade already so didnt use it.. but it was good 4 14 pips today. the eur was not a good candidate because of the 720 not being strong but if you had shorted it it was good 4 21 pips
those who can, do. those who cant, talk about those who can
  • #45,335
  • Nov 13, 2008 8:30pm Nov 13, 2008 8:30pm
Where is everyone tonight? Nikkei is up but eur & jpy aren't doing a thing.
  • #45,336
  • Nov 13, 2008 8:34pm Nov 13, 2008 8:34pm
Quoting gatorinla
no just observant.. its not the holy grail.. check it out c what you think
I was more referring to the wizetrade platform, not the system itself. Anyway, I don't have a 12 hour TF in MT4. I guess 3 H4s will do.

Another once daily trade I have had some success with is to enter at the previous day's low (short) or high (long), sometimes both, for 10 pips TP, 30 SL.
  • #45,337
  • Nov 13, 2008 8:46pm Nov 13, 2008 8:46pm
Quoting FXraider
Hi Cobra

Just to check with u, why u did not enter based on the previous peak (circle in yellow) since there is also a cross of cyan line on hull and cloud, and PA below cloud?
The first candle that went out of the cloud was small and didn’t go lower than the one in the cloud, the move had all small candles, no power behind and the most important: the hull wasn’t ripe yet and stared upwards, that’s all.

Still no action in Asia, is because Jay Walker isn't here, good moment for more rest.
.
  • #45,338
  • Nov 13, 2008 8:56pm Nov 13, 2008 8:56pm
Cobra.

Thanks for the clarification. Just to confirm that I am seeing the same thing as you...of cos, you will be far better than me.

Cheers...

Happy pipping....(not peeping)
  • #45,339
  • Nov 13, 2008 9:14pm Nov 13, 2008 9:14pm
Quoting psiholog
... so id be careful in shorting as the trend right now is strongly up
I have a slightly different perspective on that right now.

According to this weekly chart covering the last 3 weeks minus tonite and tomorrow, we are dead in the water neutral within maybe a couple dozen pips. We just had a very exciting adrenaline fueled rush... and need to purge the toxins a little more.

Some bush pilot friends of mine always answer the "what's it like?" tourist questions about flying in the mountains hundreds of miles from anywhere with this answer ... "hours and hours of boredom, interrupted by a few minutes of sheer terror." I'm still happy with what my indicators are telling me, but I am watching the weather ahead very closely...

Only other note I'd make here is that unless we get a significant surprise somewhere in these last 2 sessions upwards, we do have both a significantly lower High and Low in place following a weekly doji marking indecision.

That current High on this weeks candle is the runup from this afternoon that topped out a'rd the 62% fib. So the weekly bias is still down on my charts, and the jury is still out for another 18 hours...

Till then keep your seatbelts fastened, your trays up, and your seat backs in the fully up and locked position... London or early NY could change everything but the close is where it's happening this week.

On top of all that long term weekly stuff, I just took the first 25% off a new GY short from 145.07 at 144..00 for 107 pips. Just sayin... Gimme mo' uptrend!!
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FUBAR...
  • #45,340
  • Nov 13, 2008 9:36pm Nov 13, 2008 9:36pm
Quoting geojams
I was more referring to the wizetrade platform, not the system itself. Anyway, I don't have a 12 hour TF in MT4. I guess 3 H4s will do.

Another once daily trade I have had some success with is to enter at the previous day's low (short) or high (long), sometimes both, for 10 pips TP, 30 SL.
hey you can do this every 24,20,16,12,8,4, hours.. not as strong a move as the open... 12 our is next strong then quarter days and so on. i mostly do the 4pm central 4am less strong
those who can, do. those who cant, talk about those who can
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