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  • #48,621
  • Dec 5, 2008 10:48am Dec 5, 2008 10:48am
Looking at the current 30 chart for EJ, the -262% fib extension of the BB pinch/breakout coincides with yesterday session low and support (so far) today, which is 150+ pips below the pinch basis/mid-point. In a sense, if this reverses to up, a +162% level is not a stretch....a good 250 pips. I doubt today we can forcast anything, but it is something to monitor into next week.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 1 hour #1 on 12-05-2008.gif Size: 59 KB
  • #48,622
  • Dec 5, 2008 10:49am Dec 5, 2008 10:49am
Quoting SunTrader
Then someone told me that it is not my opinion that matters, it is the market's opinion that does.
hubba hubba

end of story.
FUBAR...
  • #48,623
  • Dec 5, 2008 11:01am Dec 5, 2008 11:01am
Quoting traderathome
Looking at the current 30 chart for EJ, the -
both eu and ej have been at odds with either each other or gy or uj or something all night. i've decided i don't have a clue who's gonna do what when.

i've got limit orders built in up to where I think it'll maybe get to and i'll see which ones get hit or not. GY made it to 34.58 and i have one more at 86 just below the 15m 50ema and 23% fib level that converge there. have to suck up some drawdown if it gets there, but have at least two if it doesn't...

one limt sell at 16.78 on ej but i don't know about that one either.. it's kind of gimpy this morning... should be an interesting close... dow sinking currencies rising, bring it on...
FUBAR...
  • #48,624
  • Dec 5, 2008 11:07am Dec 5, 2008 11:07am
The 5 minute EJ chart shows BB pinch and what could become a break up ....possible trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 minute #1 on 12-05-2008.gif Size: 52 KB
  • #48,625
  • Dec 5, 2008 11:10am Dec 5, 2008 11:10am
Quoting traderathome
The 5 minute EJ chart shows BB pinch and what could become a break up .
well, obviously i hope you're SO wrong...

I'm basically trading yesterdays 1hr swing fib for entries....
FUBAR...
  • #48,626
  • Dec 5, 2008 11:25am Dec 5, 2008 11:25am
ADD: Those entires happen to be coinciding right now with the 15m 50ema as well. That's usually pretty good resistance on geppy and EJ

Phase one complete...
all entries in and locked, now please dear God make this drop and I promise i'll never bother jaywalker again.
FUBAR...
  • #48,627
  • Dec 5, 2008 11:40am Dec 5, 2008 11:40am
Quoting ak4x
ADD: Those entires happen to be coinciding right now with the 15m 50ema as well. That's usually pretty good resistance on geppy and EJ

Phase one complete...
all entries in and locked, now please dear God make this drop and I promise i'll never bother jaywalker again.
you and me both. seems the euro session low will be a tough nut to crack. But now with them out of the way we still have another couple hours to have another crack at it. Only sign of hope at the moment is my H4 closed reasonably bearish again. .
  • #48,628
  • Edited 12:29pm Dec 5, 2008 11:47am | Edited 12:29pm
Quoting 786 trading
What is SSI, is it an indicator? How we know that what percentage of traders are in long or short?
FXCM in their anaylsis had SSI, in which they say market is bearish or bullish?
From where they get this SSI and how they do know?

Anybody have idea about this? Do we have in metatrader some equilent indicator for that or any custom indicator?
From their site:

Quote
FXCM SSI is an actionable contrarian indicator that gives signals based on net positioning of FXCM clients. This indicates bias in the market, just as volume indicators do in other markets. The SSI is the primary tool of FXCM's Sentiment Program.
http://www.fxcm.com/trading-signals-sentiment.jsp

Oanda also has a similar thing.

On MT4, I think it's "volume" (the equivalent) though it won't give you the short/long ratio.
There is also a Bulls and Bears indicator:
http://ta.mql4.com/indicators/oscillators/elder_rays
And MACD...
  • #48,629
  • Dec 5, 2008 12:31pm Dec 5, 2008 12:31pm
Quoting ak4x
well, obviously i hope you're SO wrong...

I'm basically trading yesterdays 1hr swing fib for entries....

getting nervous yet?

were about to go up like a rocket
  • #48,630
  • Dec 5, 2008 12:38pm Dec 5, 2008 12:38pm
Quoting Dansnali
getting nervous yet?

were about to go up like a rocket
no

you don't know what I used to do for a living....
FUBAR...
  • #48,631
  • Dec 5, 2008 12:40pm Dec 5, 2008 12:40pm
Quoting Dansnali
getting nervous yet?

were about to go up like a rocket
based on what?
  • #48,632
  • Dec 5, 2008 12:58pm Dec 5, 2008 12:58pm
Quoting dokidoki
based on what?
Was basing it on the DJI and EJ both breaking out of trendlines (triangle) and candle closing. Looks like EU isn't in correlation though But i am just grabbed 60 pips on ej jump
  • #48,633
  • Dec 5, 2008 1:25pm Dec 5, 2008 1:25pm
Quoting Dansnali
Was basing it on the DJI and EJ both breaking out of trendlines (triangle) and candle closing. Looks like EU isn't in correlation though But i am just grabbed 60 pips on ej jump
I see, thanks for the heads up!
seems the EU is stuck between a rock and a hard place atm..
  • #48,634
  • Dec 5, 2008 1:50pm Dec 5, 2008 1:50pm
Quoting traderathome
The 5 minute EJ chart shows BB pinch and what could become a break up ....possible trade.
....Which is working our very well!
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 minuter #2 on 12-05-2008.gif Size: 54 KB
  • #48,635
  • Dec 5, 2008 1:54pm Dec 5, 2008 1:54pm
End of week little rally came 1/2 dozen pips short of daily pivot.

Riding on the coattails of stock market reversal.
  • #48,636
  • Dec 5, 2008 2:00pm Dec 5, 2008 2:00pm
Quoting SunTrader
End of week little rally came 1/2 dozen pips short of daily pivot.

Riding on the coattails of stock market reversal.
It actually bounced right off of the daily pivot if you use 12pm est start time..

I have a daily pivot up for 12 EST 5PM EST and 12PM GMT (usually only during london session I have that one up though)

EJ and GJ REALLY rode the markets run up btw.. I caught 100 pips of it. Watching EU again now though we might be done but 1 hr left so maybe another run.. not sure what direction though yet.. The Dow hit the R1 Daily pivot and EJ stopped at the same point that also happened to be at a longer term Fib line.

Sitting back watching for now
  • #48,637
  • Dec 5, 2008 2:02pm Dec 5, 2008 2:02pm
Closed AUDUSD positive pips, going to hold EURUSD over weekend I guess - really seems lethargic compared to other volatility but holding up well with oil collapse, so it's intersting to say the least.
  • #48,638
  • Dec 5, 2008 2:06pm Dec 5, 2008 2:06pm
Quoting Dansnali
It actually bounced right off of the daily pivot if you use 12pm est start time..

I have a daily pivot up for 12 EST 5PM EST and 12PM GMT (usually only during london session I have that one up though)
But that isn't the daily pivot. Maybe half day or mid day pivot.

In any case I used to also use pivots based on Asian sessions and then London but it became overload IMO.
  • #48,639
  • Dec 5, 2008 2:15pm Dec 5, 2008 2:15pm
Quoting SunTrader
But that isn't the daily pivot. Maybe half day or mid day pivot.

In any case I used to also use pivots based on Asian sessions and then London but it became overload IMO.
1.2714 is the daily pivot when you use 12PM EST as the start/stop time is what i am saying.

Your probably using 5PM EST or GMT+2 or possibly even GMT 0 since those two are at the same place. The asian one i agree its a weak pivot. I find the other 3 are are all valid.

GMT +2 is probably the strongest. I am guessing thats the one you use?
  • #48,640
  • Dec 5, 2008 2:38pm Dec 5, 2008 2:38pm
The 538% fib extension level is being respected.....
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 minuter #3 on 12-05-2008.gif Size: 47 KB
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