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  • #47,801
  • Dec 2, 2008 12:04am Dec 2, 2008 12:04am
some pivots for reference , with the lower 1hr bb replacing the quarter pivot for now.
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FUBAR...
  • #47,802
  • Dec 2, 2008 12:04am Dec 2, 2008 12:04am
They will

Quoting forexbomber
yeah i hope we get some volume sometime soon. maybe that report will spark the market. we will see. shoot you know its bad when the 1 min looks flat
  • #47,803
  • Dec 2, 2008 12:05am Dec 2, 2008 12:05am
Quoting Skoozy
When will this get goin?
sometime in early january is my guess.
FUBAR...
  • #47,804
  • Dec 2, 2008 12:10am Dec 2, 2008 12:10am
Quoting ak4x
some pivots for reference , with the lower 1hr bb replacing the quarter pivot for now.
hey ak4x what forex platform do you use? i use mt4
  • #47,805
  • Dec 2, 2008 12:31am Dec 2, 2008 12:31am
Let me stress i have no techie reason that I know of to say this, but i'm going to hold out for the S1/-23% retrace convergence sometime later tonite or tomorrow... Just becuz it's there I guess and looks like a pretty solid support level. It's also kind of a pretty red color...

The lower BB and QP (aqua) convergence could also be the low point as well. With no momentum to work with...

I'm certain that it will get there eventually but it could also be sometime in january at this rate. I'm setting that +5 SL and if I don't get stopped out in the chop, we'll see what happens. I've scaled out twice so there's only a third still running. Had a decent yen day, but this is killin me. I feel a mood coming on so it's time to bail.

Hey jaywalker, if you see this later, make sure you scroll back and see my new trading room. nice digs huh? g'nite all and careful trades.
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FUBAR...
  • #47,806
  • Dec 2, 2008 12:39am Dec 2, 2008 12:39am
one last 1hr chart showing what may be the current snag at the 23% level... looks better on the 5m chart. not shown are the 5m 200sma just above the 38% and the 5m 288sma right at the 50% level as well.

ok that's it for me tonite.
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FUBAR...
  • #47,807
  • Dec 2, 2008 12:41am Dec 2, 2008 12:41am
Quoting forexbomber
hey ak4x what forex platform do you use?
accucharts for charts, mt4 for orders and a few ugly charts
FUBAR...
  • #47,808
  • Dec 2, 2008 12:46am Dec 2, 2008 12:46am
Quoting ak4x
accucharts for charts, mt4 for orders and a few ugly charts
Sweet! thank you SO much! im downloading acucharts right now
  • #47,809
  • Dec 2, 2008 12:51am Dec 2, 2008 12:51am
Quoting forexbomber
Sweet! thank you SO much! im downloading acucharts right now
uhhh, you gotta sign up for a demo acct with fxsolutions as well. download the gts pro or whatever it is, login the first time on that, then you're good to go after that with the the charts only if you like. don't need to be logged in to gts, but it does have to stay installed on your pc.

take the time to watch the tutorials. i wish i had but i was stupid and took a month to figure out what would have taken a few hours.
FUBAR...
  • #47,810
  • Dec 2, 2008 12:56am Dec 2, 2008 12:56am
Quoting ak4x
uhhh, you gotta sign up for a demo acct with fxsolutions as well. download the gts pro or whatever it is, login the first time on that, then you're good to go after that with the the charts only if you like. don't need to be logged in to gts, but it does have to stay installed on your pc.

take the time to watch the tutorials. i wish i had but i was stupid and took a month to figure out what would have taken a few hours.
hahaha thanks for the heads up! i got it all downloaded and will watch the videos tomorrow i appreciate it!
  • #47,811
  • Dec 2, 2008 1:17am Dec 2, 2008 1:17am
over 24 hours of consolidating within the same 100pip range. this to me is not a continuation of thanksgiving. it is buildup for whatever comes next. any move that will occur will be massive..whether down or up it seems is entirely dependent on the performance of the us stock market. ecb rate cuts?..one could say they were already built in with sunday/monday pa...not for eur/usd but all pairs in general. whether this is a case of "buy the rumor sell the news" is to be seen. only one thing is concrete at the moment...1.2580 is the mega support...1.2700 the mega resistance...a decisive break of one of those will indicate further direction. until then...tackling the gbp/jpy beast is proving most difficult..yet entertaining at the same time. careful pippin all and do not get caught in any bear or bull traps. what is a trap?...a move outside the designated support/resistance with no strength behind it. how do you know its a false move?...other then "feeling" the market which is the method i employ...taking an overall look at the big picture...the what is going on fundamentally at this point in time gives clues...also once break occurs and a retest of the breakout level proves it has become strong support/resistance is the last confirmation needed.
Different opinions highly valued, ignorant to slander.
  • #47,812
  • Dec 2, 2008 1:33am Dec 2, 2008 1:33am
Quoting psiholog
over 24 hours of consolidating within the same 100pip range. this to me is not a continuation of thanksgiving. it is buildup for whatever comes next. any move that will occur will be massive..whether down or up it seems is entirely dependent on the performance of the us stock market. ecb rate cuts?..one could say they were already built in with sunday/monday pa...not for eur/usd but all pairs in general. whether this is a case of "buy the rumor sell the news" is to be seen. only one thing is concrete at the moment...1.2580 is the mega support...1.2700...
thanks for explaining it! makes a lot of sense to me
  • #47,813
  • Dec 2, 2008 2:19am Dec 2, 2008 2:19am
Do we now wait for the price to come back up to retest 1.258?
Just my 2 cents worth
  • #47,814
  • Dec 2, 2008 2:21am Dec 2, 2008 2:21am
I can not stress how important Divergence is. Here is the last of my Div. trades finishing up. Thats over 1400 pips between G/U, E/U & E/J since Sunday night, Guys. This pair took some patience, but it paid off. I know some were yelling at me about perfect trades, but remember, I trade the Daily and sometimes they take a couple days to go into profit.

Thanks for listening.

Jim
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Click to Enlarge Name: eu daily jmt brsh hdn div.gif Size: 23 KB
  • #47,815
  • Dec 2, 2008 2:23am Dec 2, 2008 2:23am
short from 117.85 and ej stalled at the quarter pivot to the pip. cool.
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FUBAR...
  • #47,816
  • Dec 2, 2008 2:59am Dec 2, 2008 2:59am
Quoting ak4x
but i'm going to hold out for the S1/-23% retrace convergence sometime later tonite or tomorrow
I have higher hopes now that it won't take till january anyway... missd by 7 pips and the night is still young but i am not.

TP set for M1 since we got here sooner rather than later with a trailer and I'm outa here. Have S1 for an optimistic target on Ej as well if it can ever break loose of that QP. QP on eu at 2574 holding things up there as well. g'nite.
FUBAR...
  • #47,817
  • Dec 2, 2008 3:06am Dec 2, 2008 3:06am
EUR/USD edges lower to 1.2581 but after all it's still staying in converging range. Though, intraday bias remains on the downside as long as 1.2775 minor resistance holds. Further fall is expected for retesting 1.2423 support.
Probability Professor
  • #47,818
  • Dec 2, 2008 3:08am Dec 2, 2008 3:08am
Could you explain, please, what is the way tio tak profit from divergence?
Thanks very much


Quoting hard1head1
I can not stress how important Divergence is. Here is the last of my Div. trades finishing up. Thats over 1400 pips between G/U, E/U & E/J since Sunday night, Guys. This pair took some patience, but it paid off. I know some were yelling at me about perfect trades, but remember, I trade the Daily and sometimes they take a couple days to go into profit.

Thanks for listening.

Jim
  • #47,819
  • Dec 2, 2008 3:16am Dec 2, 2008 3:16am
Since I'm to occupied trading I cant provide a full analysis like in the past and its to time consuming to each time need to defend them.

Yesterday fake bullish break out occurred and Target 1.2573 been hit this morning.

Today:

No major news.
Retrace during European session, DAX, Gold, Oil up
T1 Long @ Daily Pivot 1.26340
T2 Long @ R1 1.26855

Careful with reaching T2, depends on USA session and DJI today

Main Trend is still down, despite many rumors there are no signs of reversal IMO.

Today consolidation before we see a further attack down towards 1.24 - 1.25 range, which is still main target for end of week

I will do an update before USA open.

As always...just my 2 cents...
  • #47,820
  • Dec 2, 2008 3:24am Dec 2, 2008 3:24am
The best way to take profit on divergence is to watch for resistence areas. If you want to take profit in short term, watch resistance on shorter time frames like 5 minutes, or ten minutes. Note that if you intend to take profit on longer time frames like 1hour, market will rally at the resistance points on the shorter time frames.
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