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  • #46,701
  • Nov 24, 2008 2:08am Nov 24, 2008 2:08am
Quoting Jay Walker

I have a long if we get to 2823 and I will add to my order if it hits 3035. We may be near the break of a weekly trend which is always lots of fun.
Although we are in a tight downward triangle, I'm not sure what to make of these higher lows on the 4H, I feel we could be making a slow U-turn..
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  • #46,702
  • Nov 24, 2008 2:35am Nov 24, 2008 2:35am
Quoting doblece
For those of you that use FxPro... have you noticed that spread is changing like crazy? It's oscillating between 0.8 and 1.8 a lot.
And they have lowered the trailing stops to 2 pips
Good news for scalpers? Or big big bait? Hmmm...
  • #46,703
  • Nov 24, 2008 2:47am Nov 24, 2008 2:47am
Anyone thats seen EU on a 4hr, probably will agree with me that theres too much chop to know what direction to take, so heres the daily chart, clearly in a choppy down trend, no point in going long unless your scalping.
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  • #46,704
  • Nov 24, 2008 5:37am Nov 24, 2008 5:37am
Quoting big_pipin
no point in going long unless your scalping.
You're right but... a 150 pips scalp is a full wig
  • #46,705
  • Nov 24, 2008 5:50am Nov 24, 2008 5:50am
Quoting doblece
You're right but... a 150 pips scalp is a full wig


I woke up just in time for that one!
  • #46,706
  • Nov 24, 2008 6:10am Nov 24, 2008 6:10am
current technical analysis. the triangle we had come to know so well over the last few weeks is still intact. last week's spike to 1.28 did exactly as i thought..it extended the upper wall of the triangle. todays pa reached that newly created wall just now and quickly bounced off it. That wall is around 1.2715 so a decisive break of it is bye bye triangle. To the downside...the previous "upper wall" is now support with the second strong support being the lower wall at around 1.2440. Then there is the supports/resistances we all know so well by now within the range. Good pippin all

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Different opinions highly valued, ignorant to slander.
  • #46,707
  • Nov 24, 2008 6:20am Nov 24, 2008 6:20am
Quoting psiholog
current technical analysis. the triangle we had come to know so well over the last few weeks is still intact. last week's spike to 1.28 did exactly as i thought..it extended the upper wall of the triangle. todays pa reached that newly created wall just now and quickly bounced off it. That wall is around 1.2715 so a decisive break of it is bye bye triangle. To the downside...the previous "upper wall" is now support with the second strong support being the lower wall at around 1.2440. Then there is the supports/resistances we all know so well by...
it's ok... but I don't like trendlines with less than 3 touchpoints.
I see euro getting stronger each day.
I'm long from 1.2440
  • #46,708
  • Nov 24, 2008 6:28am Nov 24, 2008 6:28am
Quoting psiholog
current technical analysis. the triangle we had come to know so well over the last few weeks is still intact. last week's spike to 1.28 did exactly as i thought..it extended the upper wall of the triangle. todays pa reached that newly created wall just now and quickly bounced off it. That wall is around 1.2715 so a decisive break of it is bye bye triangle. To the downside...the previous "upper wall" is now support with the second strong support being the lower wall at around 1.2440. Then there is the supports/resistances we all know so well by...

From my point of view there are two important resistance at 2730 and 2780

I have shorted at 2717 but only for short operation that i have closed..

I believe that at least one test at 2730 we'll see and then it's very important where did the 4H candle open's.... if over 2720... then .....

The best thing that can happen to you is to find out where you're wrong.
  • #46,709
  • Nov 24, 2008 6:36am Nov 24, 2008 6:36am
Ok... short half position at 2730
The best thing that can happen to you is to find out where you're wrong.
  • #46,710
  • Nov 24, 2008 6:36am Nov 24, 2008 6:36am
I have the EURUSD heading up for a while. Dollar hitting some major roadblocks. I am long.


Looking for a move up out of the 2729 area. Current target comes in around 1.29. On the same hand, any strong move down from 2729 area and I am out of my long.
  • #46,711
  • Nov 24, 2008 6:36am Nov 24, 2008 6:36am
Quoting emda
it's ok... but I don't like trendlines with less than 3 touchpoints.
I see euro getting stronger each day.
I'm long from 1.2440
On psiholog's chart (on mine as well) we can see that all three trendilnes (LTL, UTL and new UTL) have at least three touchpoints and one of them has even 4 (maybe the new UTL is not so evident because the second point would be that long spike while the Fed guy was speaking the other day).

I absolutely agree with the rest.
  • #46,712
  • Nov 24, 2008 6:40am Nov 24, 2008 6:40am
Quoting doblece
On psiholog's chart (on mine as well) we can see that all three trendilnes (LTL, UTL and new UTL) have at least three touchpoints and one of them has even 4 (maybe the new UTL is not so evident because the second point would be that long spike while the Fed guy was speaking the other day).

I absolutely agree with the rest.
the new upper green trendline he was talking ao but.. only has 2.. and the current bar hitting it.. but current bar doesn't count for counting trendline touchpoints
  • #46,713
  • Nov 24, 2008 6:56am Nov 24, 2008 6:56am
Watching this up channel, dotted blue lines and 2790-2800 major resistance
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I need to put up stop losses.
  • #46,714
  • Nov 24, 2008 7:01am Nov 24, 2008 7:01am
Quoting swap
Watching this up channel, dotted blue lines and 2790-2800 major resistance
Right that is my second short ( half position) at 2790
The best thing that can happen to you is to find out where you're wrong.
  • #46,715
  • Nov 24, 2008 7:07am Nov 24, 2008 7:07am

Well guys, I begin my prayers

The best thing that can happen to you is to find out where you're wrong.
  • #46,716
  • Nov 24, 2008 7:11am Nov 24, 2008 7:11am
Quoting Driver55

Well guys, I begin my prayers

My demo account is getting busted too. What was the reason? I stopped all my live trades before the news and let it my demo run but . . .
  • #46,717
  • Edited 7:33am Nov 24, 2008 7:14am | Edited 7:33am
Hello,
I think this rally is on bet that wallstreet is going to rally " citi bailout" which is not really a good news. just watching to the sideline. looking for a good scalp.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #46,718
  • Nov 24, 2008 7:16am Nov 24, 2008 7:16am
As I've been looking to find and recognize this pattern on different TFs, I think I found a bearish Wolfe Wave on M30. It is most probably not a perfect one, nor am I 100% sure that it is indeed a WW by the rules, but to me it looks so.

IF it is a Wolfe Wave and IF the accuracy of this pattern performs as said, we would be about to reach point 5 and would be reaching around 1.25xx by tomorrow at 10:30 GMT+2 (03:30 EST - half an hour after London open) ????

Any input from WW experts would be appreciated, lest I make a fool of myself!
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  • #46,719
  • Nov 24, 2008 7:18am Nov 24, 2008 7:18am
apparently the feds will bail out citibank

in any case the longer term triangle is now not even worth looking at anymore..broken and double broken and irrelevant. the only thing that matters now is the current uptrend..pretty clear cut...we may have a top set in place for now with a break of the lower wall and 23.6% current fibs (todays low to high) needed to confirm it. i too am currently short with that 50% fib line as my target

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Different opinions highly valued, ignorant to slander.
  • #46,720
  • Nov 24, 2008 7:21am Nov 24, 2008 7:21am
Quoting doblece
As I've been looking to find and recognize this pattern on different TFs, I think I found a bearish Wolfe Wave on M30. It is most probably not a perfect one, nor am I 100% sure that it is indeed a WW by the rules, but to me it looks so.

IF it is a Wolfe Wave and IF the accuracy of this pattern performs as said, we would be about to reach point 5 and would be reaching around 1.25xx by tomorrow at 10:30 GMT+2 (03:30 EST - half an hour after London open) ????

Any input from WW experts would be appreciated, lest I make a fool of myself! ...

Excuse my impatience .. but it would not be possible to reach point 5 in about 15 minutes?

The best thing that can happen to you is to find out where you're wrong.
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