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  • #51,661
  • Dec 19, 2008 2:50am Dec 19, 2008 2:50am
Funny some of you start to glow when you "predict" right, like its anything more than 50/50 chance
  • #51,662
  • Edited 2:55am Dec 19, 2008 2:51am | Edited 2:55am
Quoting ammarmemon
Thanx bro very much for the guidance.I did as u told on a daily chart and 61.8 level was coming near 1.39 level and there was no 0.786 level in it.I think it will come nearly on 1.4320 level.I got it.

Bro can u plz explain how to know that when he have to plot these fibonaccis on which chart.I plotted them on 30 mins chart for about the last 40 candle sticks and it was an uptrend so i got the support level at 1.4210 level,but didn't get the resistance level.Now I got the resistance level.Well every time wil I have to plot fibo's twice?One for...

yeah i ran two fib sequences one from the high at 1.6038 area on july 15th down to the recent low of 1.2329. and the other one mentioned in the post. if you run those on a daily chart and then just extend them to the end of the chart. then you can check it on any time frame. but plotting on the daily would be the easiest IMO

Edit. if you went short on that break then your good to go right now, these markets are crazy the past 24 hours.
  • #51,663
  • Dec 19, 2008 2:53am Dec 19, 2008 2:53am
1.3820?
Attached Image (click to enlarge)
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Time goes you say? Ah, no! Time stays. We go...
  • #51,664
  • Dec 19, 2008 2:54am Dec 19, 2008 2:54am
Quoting johto
Funny some of you start to glow when you "predict" right, like its anything else than 50/50 chance
it's really a matter of creating an 'edge' for yourself; learning your system; sticking with it - and with proper MM; you gain more pips than you lose. I saw earlier tonight the odds were slightly higher on a downward PA not an upward PA. Didn't think it would blow like this though; but, the pressure sure was building.
But, the work; study and patience to execute properly and it hits like this? No real glowing, just the fruits of a job well done.
Pip what you see; See what you pip!
  • #51,665
  • Dec 19, 2008 2:58am Dec 19, 2008 2:58am
Quoting johto
Funny some of you start to glow when you "predict" right, like its anything more than 50/50 chance
It's a game of chance, but after an exponential 2000 pips move up and a 500 pips bounce in 4 hours... odds are on the bounce side.
Attached Image (click to enlarge)
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Time goes you say? Ah, no! Time stays. We go...
  • #51,666
  • Dec 19, 2008 3:00am Dec 19, 2008 3:00am
Quoting andrius
It's a game of chance, but after an exponential 2000 pips move up and a 500 pips bounce in 4 hours... odds are on the bounce side.
^^^
quoted from the truth..i still think the uptrend is alive and well, just look at the daily & weekly MACD..

But the fact is, it was long overdue for a breather!
  • #51,667
  • Dec 19, 2008 3:01am Dec 19, 2008 3:01am
The question now is: will 1.40 hold and make a range?
  • #51,668
  • Dec 19, 2008 3:03am Dec 19, 2008 3:03am
Hello All,
I'm new here but have been reading this forum in particular for a few weeks and found it very interesting and insightful. I thought it about time I signed up and hopefully will be able to contribute something useful too though I am new to trading. My plan is to make 100 pips a week and, dare I say, it looks doable. Just done 50 right now on the back of the bears so quitting already for today or I'll get carried away and lose it all and then some. Thanks for all the help so far guys.
  • #51,669
  • Dec 19, 2008 3:05am Dec 19, 2008 3:05am
hmmm considering that long was a major retracement.. and now its easing back to 1.2plus.. that will be really a BIG XMAS GIFT
  • #51,670
  • Dec 19, 2008 3:05am Dec 19, 2008 3:05am
is S2. Might take awhile to 1.4000. Looks like it may be loosing steam. But, I'm wrong often -
Pip what you see; See what you pip!
  • #51,671
  • Dec 19, 2008 3:05am Dec 19, 2008 3:05am
Quoting weswes
^^^
quoted from the truth..i still think the uptrend is alive and well, just look at the daily & weekly MACD..

But the fact is, it was long overdue for a breather!
Daily & Weekly are both down, isn't it?
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot_20081219_005.gif Size: 15 KB
Time goes you say? Ah, no! Time stays. We go...
  • #51,672
  • Dec 19, 2008 3:05am Dec 19, 2008 3:05am
Quoting Guitarfx
Hello All,
I'm new here but have been reading this forum in particular for a few weeks and found it very interesting and insightful. I thought it about time I signed up and hopefully will be able to contribute something useful too though I am new to trading. My plan is to make 100 pips a week and, dare I say, it looks doable. Just done 50 right now on the back of the bears so quitting already for today or I'll get carried away and lose it all and then some. Thanks for all the help so far guys.
Keep a good head on your shoulders and trade within your comfort range.
  • #51,673
  • Dec 19, 2008 3:07am Dec 19, 2008 3:07am
Quoting SeerEye
is S2. Might take awhile to 1.4000. Looks like it may be loosing steam. But, I'm wrong often -

I'm wrong - hee; hee -
Pip what you see; See what you pip!
  • #51,674
  • Dec 19, 2008 3:07am Dec 19, 2008 3:07am
What're everyones thoughts here on this volatility continuing into 2009?
  • #51,675
  • Dec 19, 2008 3:12am Dec 19, 2008 3:12am
Quoting permanentjaun
What're everyones thoughts here on this volatility continuing into 2009?
next week until the end of the year; I'm going to guess higher volatility, but lighter volumes. The big boys will be takin' a break for the holidays and recreational and retail traders (ie - you and me) will be messin' with forex. Ah - kinda like the mice will play when the cats away.

Just a thought from this noob - that don't know much, if anything.
Pip what you see; See what you pip!
  • #51,676
  • Dec 19, 2008 3:13am Dec 19, 2008 3:13am
Quoting OzorioFX
The question now is: will 1.40 hold and make a range?
No. It will go down to 1.

Time goes you say? Ah, no! Time stays. We go...
  • #51,677
  • Dec 19, 2008 3:15am Dec 19, 2008 3:15am
I dont think IM going to take profit on this one.. Im up like 200 pips..Might let it ride for a change.. Hoping we get some consolidation and another 200 pip downward move like yesterday....

I missed all of yesterdays moves so this is a def. Xmas gift.

Some thoughts:
Its at the 25EMA on the 4hour...might find some support around here..If it breaks we mgiht see 3740 on the 4hour at the 50EMA...

On the 1Hour its at the 100EMA already...It had consolidated on the 50EMA...It might consolidate on the 100EMA and if it breaks that it could go do the 200EMA at 1.3725 which is also aroud the 4Hour 50 EMA..So my guess is we will see another break and a pause around that range which is also near the 50% fib at 1.3650
  • #51,678
  • Dec 19, 2008 3:17am Dec 19, 2008 3:17am
Just watching the charts here. I have short continuation signal here on the 1HR using a 23.6 price time square. Price will hit the descending pink line some place, 1.3800 at the very least, but hopefully much lower.

Scotty B
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  • #51,679
  • Dec 19, 2008 3:20am Dec 19, 2008 3:20am
Quoting Scotty B
Just watching the charts here. I have short continuation signal here on the 1HR using a 23.6 price time square. Price will hit the descending pink line some place, 1.3800 at the very least, but hopefully much lower.

Scotty B
How do you paint those funny rays?
Time goes you say? Ah, no! Time stays. We go...
  • #51,680
  • Dec 19, 2008 3:23am Dec 19, 2008 3:23am
Quoting andrius
How do you paint those funny rays?
It is a modified/manipulated fib fan. I can't explain the method in detail right now (simple time restraints), but I am working on starting a new advanced fib thread here at the factory. Stay tuned.

Scotty B
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