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  • #46,741
  • Nov 24, 2008 9:53am Nov 24, 2008 9:53am
Quoting ak4x
Most of my more recent entries stopped out at +pips, tweaking the rest of them and letting them erode to the stop. Don't like this price action, don't trust it, and liken it to getting on the top step of a ladder where it says... "Not A Step"...

We'll see.

Add: Test short at 145.40 GY, tight stops (for gy..) missed a potential eu/ej entry... always another one tho.
I get that feeling too. Although if we get another big stock burst it could propel to a new daily high...
  • #46,742
  • Nov 24, 2008 10:02am Nov 24, 2008 10:02am
2825 is the lower limit of the keltner channel (50 periods) on the monthly chart... i hope the market retrace...
I´m accumulating shorts.. but....
The best thing that can happen to you is to find out where you're wrong.
  • #46,743
  • Nov 24, 2008 10:03am Nov 24, 2008 10:03am
Quoting doblece
(Now if only I could listen to my own advices, hmmm...)
I recommend you to listen to your own advices...
oh if I would listen to my own recommendations ....

closed 350 pips. since friday... and I'm done for the week...
but.. I'm sure I will trade tomorrow too... but I'll do my best to not to trade more for today.... it's hard....
  • #46,744
  • Nov 24, 2008 10:11am Nov 24, 2008 10:11am
Are we in a holding pattern until the big O speaks?
  • #46,745
  • Nov 24, 2008 10:15am Nov 24, 2008 10:15am
Quoting TradeWell
Are we in a holding pattern until the big O speaks?

I think yes... but what can he say say so positive?

The best thing that can happen to you is to find out where you're wrong.
  • #46,746
  • Nov 24, 2008 10:17am Nov 24, 2008 10:17am
Quoting Driver55

I think yes... but what may say so positive?

Who knows...but it is typical market emotion...
  • #46,747
  • Nov 24, 2008 10:18am Nov 24, 2008 10:18am
Quoting Driver55
2825 is the lower limit of the keltner channel (50 periods) on the monthly chart... i hope the market retrace...
I´m accumulating shorts.. but....
I don't know where your SL are, this is going up for awhile.
  • #46,748
  • Nov 24, 2008 10:19am Nov 24, 2008 10:19am
Quoting Driver55

I think yes... but what may say so positive?

Hello Driver55,

On this side of the water, the news has been very favorable regarding Obama's selection of the NY Fed President to be Secty of Treasury; as well with Summers going to White House. Obama has this soothing effect at present. He is being decisive. Time will tell if it works, but in short term, markets could react favorably.

P.S. I just checked Alg's blog site. He thinks we're nearing intra-day turnaround.
Up or down, gimme a ticket
  • #46,749
  • Nov 24, 2008 10:21am Nov 24, 2008 10:21am
Quoting BoredToLoose
I don't know where your SL are, this is going up for awhile.
So you believe that's a bull flag forming right now?
  • #46,750
  • Nov 24, 2008 10:21am Nov 24, 2008 10:21am
Quoting BoredToLoose
I don't know where your SL are, this is going up for awhile.

The beauty of the market is that we can see at the same time opposite things

Edit: in this tzpe of market you can't have a rigid stop. I have now 1,5 lot at three different levels.. my average price is for now 2794.. .. but i can shoot another 2 bullets (of 0,5 lot)... in distance of 60 pips..
my next level is 2920...

The best thing that can happen to you is to find out where you're wrong.
  • #46,751
  • Nov 24, 2008 10:25am Nov 24, 2008 10:25am
Quoting BoredToLoose
I don't know where your SL are, this is going up for awhile.
What pair are you looking at?
  • #46,752
  • Nov 24, 2008 10:25am Nov 24, 2008 10:25am
Quoting TradeWell
So you believe that's a bull flag forming right now?
Careful. We felt the effect of a nice M30 and M15 bull flag when we went to 2880. On M15 and M30, it looks more like a descending triangle that could be forming. I would agree, however, that right now it could go either way.
Up or down, gimme a ticket
  • #46,753
  • Nov 24, 2008 10:28am Nov 24, 2008 10:28am
Quoting TradeWell
So you believe that's a bull flag forming right now?
.... The Markets are very erratic, but my short zone not yet reached.
Only above 1.2977 I am starting to think about shorts.
I see further up moves coming but we must see another big drop before that.
If we cross 1.3033 without a nice retrace I will be surprised!
  • #46,754
  • Nov 24, 2008 10:32am Nov 24, 2008 10:32am
Quoting BoredToLoose
.... The Markets are very erratic, but my short zone not yet reached.
Only above 1.2977 I am starting to think about shorts.
I see further up moves coming but we must see another big drop before that.
If we cross 1.3033 without a nice retrace I will be surprised!
Yep, I went long at 1.2859 based on THV. Right now though, that's at -18 and bouncing lower. I should have followed my own advice of caution.
Up or down, gimme a ticket
  • #46,755
  • Nov 24, 2008 10:42am Nov 24, 2008 10:42am
Quoting SpecialEd
Yep, I went long at 1.2859 based on THV. Right now though, that's at -18 and bouncing lower. I should have followed my own advice of caution.
I didn't see that confirmation on THV on both 1 and 5 min.

edit: also, since we are getting low on s/r's, I consider today's 2880 high as strong resistance now.
  • #46,756
  • Nov 24, 2008 10:45am Nov 24, 2008 10:45am
Quoting TradeWell
I didn't see that confirmation on THV on both 1 and 5 min.

edit: also, since we are getting low on s/r's, I consider today's 2880 high as strong resistance now.
You're better on THV than me, so I want to know. You agree there was confirmation though, right?

One thing to consider - I agree that 2880 should be strong resistance for today, but this could also be an Acument 20/80 play. It fell back from 2880, and could now re-climb and get at least to 2900.

Either way, I think the top is near. Sure don't want to leave a long up here.
Up or down, gimme a ticket
  • #46,757
  • Nov 24, 2008 10:47am Nov 24, 2008 10:47am
Quoting SpecialEd
Yep, I went long at 1.2859 based on THV. Right now though, that's at -18 and bouncing lower. I should have followed my own advice of caution.
I have told you last Friday that We will soon see a Turn around.
I have a long at 1.2557.

My H4 Symmetric Channel was broken at 1.2655. from here only longs will reign at least until 1.2960/80 area.
  • #46,758
  • Nov 24, 2008 10:55am Nov 24, 2008 10:55am
..... Broken that symmetric Channel at 1.2655.
Wait at least 350 pips to see this to stop!
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  • #46,759
  • Nov 24, 2008 10:57am Nov 24, 2008 10:57am
Looks like things are rounding off and a double top may be forming on the smaller time frames like 5M and 15M. I guess we will see what the bulls can do on there next push. standing aside for now and getting ready to enter short. Might be a little more strength left.. but looking pretty oversold at the moment.. (The DOW did just move to a slight higher high though)
  • #46,760
  • Nov 24, 2008 11:17am Nov 24, 2008 11:17am
earlier Gy short stopped out... premature. one more try (146.50) at the 162% extension of my last weekly swing fib on gy, and also a 14% retrace of the current weekly swing (anchors are 197.40 High/137.65 Low).

I'll long eu/ej again if and only if risk appetite returns, don't really care what the charts say, i guess i'm looking at the funnymentals at this pioint.

alternative is staying out for awhile and seeing what develops.
FUBAR...
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