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  • #48,861
  • Dec 8, 2008 8:13pm Dec 8, 2008 8:13pm
Quoting doblece
If it was the wave 3, could go down to around 1.2833 (MS1 - 38.2% fib of the move), then back up for wave 5. Watch out for double bottom there.
i'm not trying to get every pip. I closed out my short for 30 pips. i'm waiting now for another entry.
  • #48,862
  • Dec 8, 2008 8:22pm Dec 8, 2008 8:22pm
Quoting gatorinla
ok sold 1/4 my long term is so pretty....im thinking 700 but hoping 1000+ in reality.. odds of being right are so much better at 500.. chart says 700 plus
goodnight till EUR open. Best pipping to all. look out for the up turn it will bite you in the end. Maybe
  • #48,863
  • Dec 8, 2008 8:35pm Dec 8, 2008 8:35pm
Quoting knuckledrag
goodnight till EUR open. Best pipping to all. look out for the up turn it will bite you in the end. Maybe
i'm long right now for 20 pips.
  • #48,864
  • Dec 8, 2008 8:39pm Dec 8, 2008 8:39pm
Quoting sed34
i'm not trying to get every pip. I closed out my short for 30 pips. i'm waiting now for another entry.
Good of "U"


Can any body see what am seeing here...

EUR/USD
SHORT
TP :1.2816

I bank in 42pips on the frist shot

  • #48,865
  • Dec 8, 2008 8:54pm Dec 8, 2008 8:54pm
Quoting sasoforex
Good of "U"


Can any body see what am seeing here...

EUR/USD
SHORT
TP :1.2816

I bank in 42pips on the frist shot

May I ask why Profit at .2816??

Thanks
  • #48,866
  • Dec 8, 2008 9:03pm Dec 8, 2008 9:03pm
I am new to posting here at Forex Factory. I have been trading for almost 4 years now. I wanted to share my thoughts, mainly because I don't really see anyone else here that sees things how I do. First of all I DO NOT use charts. I don't use lines, I don't use MA's. I use nothing other than price action and fundamentals. I know I probably lost alot of credibility by saying that, but if you want, we can trade PNL's.

First of all I don't see a strong move in the EUR/USD in the next few months. I see alot of consolidation because of the mixed fundamentals. I am net short and will continue to short all rises and this is why. I believe the eurozone is in for a rude awakening. I love it when Trichet gets up and acts like nothing is wrong in Europe because that shows me he is just like our fed and is a LIAR. Just look at the numbers. Not only that but I believe the USD economy will turn around sooner than the eurzone. So we will begin raising rates before the ECB will. Not to mention the "safe haven" mentality of the USD. So for me, there is just more positive for the dollar than for the euro.

I do believe however this a day coming when the dollar is going to get absolutely hammered!!!! But I don't think that day is coming even within the next six months. I believe we could bottom at somewhere around 1.1700. Anyways, those are my thoughts. Would like to know what you guys think.

BCF
  • #48,867
  • Dec 8, 2008 9:03pm Dec 8, 2008 9:03pm
Quoting psiholog

Attachment
i am reposting that chart to give a clear picture of whats happening longer term.

Something is different this week. Unlike last week where we just trended sideways for pretty much the whole time...this week started with a bang and what could possibly the start of an uptrend (green and red lines). While that upper wall of that wedge was rejected earlier...all momentum points to a clean break before ny session ends tommorow. For now..channel principles apply to the newly formed uptrend..sell at the upper wall(scalp only in uptrend)...buy at the lower wall (positions to be held until channel gets broken to the downside)...middle wall can act as support or resistance (may take profit on all or half of position here). For now...I am looking for a retest of the lower wall to confirm that it has become strong support (or at least get close to that line) before entering with a big long position. That value would probably coincide with 50% retracement from low (1.2548) to high (current high). If we cant break the middle wall...scalping rules only apply. This whole scenario is cancelled if we break that lower wall. Good pippin all

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 41 KB
Different opinions highly valued, ignorant to slander.
  • #48,868
  • Dec 8, 2008 9:16pm Dec 8, 2008 9:16pm
Quoting psiholog
i am reposting that chart to give a clear picture of whats happening longer term.

Something is different this week. Unlike last week where we just trended sideways for pretty much the whole time...this week started with a bang and what could possibly the start of an uptrend (green and red lines). While that upper wall of that wedge was rejected earlier...all momentum points to a clean break before ny session ends tommorow. For now..channel principles apply to the newly formed uptrend..sell at the upper wall(scalp only in uptrend)...buy at the...
Hey Psiholog

Hope the nap was good. We seem to be stuck at the halfway point right now, so you think it will break and continue down? I got out at the halfway point but would love to catch it dropping some more.

Cheers
  • #48,869
  • Dec 8, 2008 9:21pm Dec 8, 2008 9:21pm
Quoting macockiner2
Hey Psiholog

Hope the nap was good. We seem to be stuck at the halfway point right now, so you think it will break and continue down? I got out at the halfway point but would love to catch it dropping some more.

Cheers
honestly..such uptrends i dont catch until they are well formed and have lasted for days. this is a rare occasion (or perhaps im honing my skill haha) where i catch this puppy early on so its hard to say how it will develop. i am inclined to believe we will drop some more but need a break of that middle wall for confirmation. This could very well develop into a short term h&s with with shoulderline at 1.2920 and neckline at 1.2850 or so which would be then followed by a drop equal to the distance from head to neckline which would put as at the lower wall.

Conclusion...im waiting for london session before further analysis as this time of day is usually highly inactive..that or if we reach 1.2920 any time soon decide whether its the right time to short for some quick pips
Different opinions highly valued, ignorant to slander.
  • #48,870
  • Dec 8, 2008 9:35pm Dec 8, 2008 9:35pm
PA coming down towards -262% fib extension.......89sma and -400% fib extension together about 40 pips further below....
Attached Image (click to enlarge)
Click to Enlarge Name: ej 30 minutes #1 on 12-08-2008.gif Size: 40 KB
  • #48,871
  • Dec 8, 2008 9:42pm Dec 8, 2008 9:42pm
Quoting doblece
If it was the wave 3, could go down to around 1.2833 (MS1 - 38.2% fib of the move), then back up for wave 5. Watch out for double bottom there.
wave 1 looks to be abc. in order for it to be impulse wave (12345), wave 1 should have started as impulse wave. just my thought.
  • #48,872
  • Dec 8, 2008 9:58pm Dec 8, 2008 9:58pm
This is bizarre... I opened two trades on ej and gy at the same time. The gy trade is 58 pips and the ej trade is 86.

Thats bassackwards.

Analyze THAT!
Attached Image
FUBAR...
  • #48,873
  • Dec 8, 2008 10:00pm Dec 8, 2008 10:00pm
Quoting britc17
I am new to posting here at Forex Factory....
Welcome to the thread.

You certainly are unique to base your trading decisions largely on fundamentals. We are a strange bunch because while most of us don't use fundamentals in our trading decisions, we sure do talk alot about them. So pull up a chair and stay a while.

Your comment is interesting because we have been discussing the directionless nature of PA, based on our technical observations. So through a different door you have developed the same bias, roughly, as many here.

We also share the view that when the U.S. Treasury says "we support a strong dollar", we know it is a bunch of BS. Nevertheless, we don't have to trust the governments but we have to figure them out (good luck!)
  • #48,874
  • Dec 8, 2008 10:07pm Dec 8, 2008 10:07pm
Quoting ak4x
This is bizarre... I opened two trades on ej and gy at the same time. The gy trade is 58 pips and the ej trade is 86.

Thats bassackwards.

Analyze THAT!
Hilarious!
  • #48,875
  • Dec 8, 2008 10:08pm Dec 8, 2008 10:08pm
Quoting britc17
I am new to posting here at Forex Factory... First of all I DO NOT use charts. I don't use lines, I don't use MA's. I use nothing other than price action...
I'll bite.

I get the lines and MA's part, but how do you keep track of "price action" if you don't use charts?? I realize that may be a stupid question with a glaringly obvious answer, but it just seems hard to keep track of numbers in one's head w/o keeping track them some whichaways.

If you can really do that, then I'm really jealous and will probably stop trading and go get a job.
FUBAR...
  • #48,876
  • Dec 8, 2008 10:11pm Dec 8, 2008 10:11pm
Thanks trade well....


Another big player in the direction of EUR/USD I think will be the Dollar Index. With literally ALL other central banks cutting rates, I don't see how there is anyway this will help support the EURO, but should rather the Dollar.I am short from 1.2936. I will hold with a +1 stop loss for now.
  • #48,877
  • Dec 8, 2008 10:14pm Dec 8, 2008 10:14pm
Quoting ak4x
I'll bite.

I get the lines and MA's part, but how do you keep track of "price action" if you don't use charts?? I realize that may be a stupid question with a glaringly obvious answer, but it just seems hard to keep track of numbers in one's head w/o keeping track them some whichaways.

If you can really do that, then I'm really jealous and will probably stop trading and go get a job.

I really don't use charts. Not to say I have never looked at chart. I just don't use them in the sense that others use charts. I mean whenever I fall alseep or can't view the market 24/6, which isn't common, I use a chart to see where the price has been. When i do this, i usually take a while to get a feel of the price action, before I start jumping into any trades.
  • #48,878
  • Dec 8, 2008 10:15pm Dec 8, 2008 10:15pm
btw, ej respecting the pivots and quarter pivots very well tonite. not looking at eu much
FUBAR...
  • #48,879
  • Dec 8, 2008 10:17pm Dec 8, 2008 10:17pm
Quoting ak4x
btw, ej respecting the pivots and quarter pivots very well tonite. not looking at eu much
Same with EU
  • #48,880
  • Dec 8, 2008 10:18pm Dec 8, 2008 10:18pm
Quoting britc17
I really don't use charts. Not to say I have never looked at chart. I just don't use them in the sense that others use charts... I use a chart to see where the price has been...
OK. You sort of use charts. I sort of get it. That helped. I'll keep trading.
FUBAR...
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