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  • #51,801
  • Dec 19, 2008 9:52am Dec 19, 2008 9:52am
Some resistance at 1.39 which happens to be the fibonacci 38.2%
Probability Professor
  • #51,802
  • Dec 19, 2008 9:54am Dec 19, 2008 9:54am
I see a pattern that can break to the upside... be careful with shorts
  • #51,803
  • Dec 19, 2008 9:58am Dec 19, 2008 9:58am
Quoting emda
I see a pattern that can break to the upside... be careful with shorts
I think market will be up this afternoon
  • #51,804
  • Dec 19, 2008 10:00am Dec 19, 2008 10:00am
Quoting Jhig
I think market will be up this afternoon
1.3840 would good for going long...
BUT it is friday... so no valid. it is valid but risky.. I don't take high risks.
  • #51,805
  • Dec 19, 2008 10:05am Dec 19, 2008 10:05am
Not liking the PA very much closed my short at a loss...

of course now it will probably break down.. after finger biting for an hour..
  • #51,806
  • Dec 19, 2008 10:06am Dec 19, 2008 10:06am
Quoting Dansnali
Not liking the PA very much closed my short at a loss...

of course now it will probably break down.. after finger biting for an hour..
i think the fib and S2 are attracting it.. but then could bounce after reaching the target.
  • #51,807
  • Dec 19, 2008 10:09am Dec 19, 2008 10:09am
why is it not breaking down hard at this level?
Because we are at the level that would define if it is a reversal or just a correction.
  • #51,808
  • Dec 19, 2008 10:11am Dec 19, 2008 10:11am
The reason why is because the market movers have stopped selling.
Probability Professor
  • #51,809
  • Dec 19, 2008 10:13am Dec 19, 2008 10:13am
Quoting Galation
The reason why is because the market movers have stopped selling.
Agree.
Scalpers have taken over the market. I've been scalping 50 or so pips for the last hour 1/2.
  • #51,810
  • Dec 19, 2008 10:13am Dec 19, 2008 10:13am
Quoting Galation
The reason why is because the market movers have stopped selling.
lol
yes..
why the market movers have stopped selling?
  • #51,811
  • Dec 19, 2008 10:17am Dec 19, 2008 10:17am
Quoting emda
lol
yes..
why the market movers have stopped selling?
Options
1. Change of direction
2. Indecision
3. Gone to the shop to buy amazing Christmas presents
Probability Professor
  • #51,812
  • Dec 19, 2008 10:24am Dec 19, 2008 10:24am
Quoting Galation
Options
1. Change of direction
2. Indecision
3. Gone to the shop to buy amazing Christmas presents
by not moving the market is another way of moving it... because time passes.. and then moving averages and everything changes as the time pass... so not moving the market is another kind of movement from the market movers... strategy to keep shorting later and not letting people to reenter in a retrace... who knows... don't think market movers are not working if price doesn't move... price ranging means same amount of buyers and sellers.. and can be the same people scalping up and down.
  • #51,813
  • Dec 19, 2008 10:25am Dec 19, 2008 10:25am
Quoting Galation
Options
1. Change of direction
2. Indecision
3. Gone to the shop to buy amazing Christmas presents
just broke down out of an 1.5 hour wedge pattern
  • #51,814
  • Dec 19, 2008 10:29am Dec 19, 2008 10:29am
Quoting klinckphilip
just broke down out of an 1.5 hour wedge pattern
upside resistance at 3910

downside 3880 and then 3840 at midpoint
  • #51,815
  • Dec 19, 2008 10:30am Dec 19, 2008 10:30am
Quoting emda
by not moving the market is another way of moving it... because time passes.. and then moving averages and everything changes as the time pass... so not moving the market is another kind of movement from the market movers... strategy to keep shorting later and not letting people to reenter in a retrace... who knows... don't think market movers are not working if price doesn't move... price ranging means same amount of buyers and sellers.. and can be the same people scalping up and down.
The longer it ranges, the more people who will add short and long limit orders above and below support levels, therefore the bigger the breakout.
Probability Professor
  • #51,816
  • Dec 19, 2008 10:31am Dec 19, 2008 10:31am
Quoting klinckphilip
just broke down out of an 1.5 hour wedge pattern
sure now it drops after i chickened out of my short..
  • #51,817
  • Dec 19, 2008 10:37am Dec 19, 2008 10:37am
Quoting Dansnali
sure now it drops after i chickened out of my short..
Me too. But on the 5min chart ... may show a temp retracement and continue down give us another entry point
  • #51,818
  • Dec 19, 2008 10:38am Dec 19, 2008 10:38am
Quoting Jhig
Me too. But on the 5min chart ... may show a temp retracement and continue down give us another entry point
maybe back at 3880

what are you looking for re-entry?

only thing is... Weekly R2 I'm going to be patient.. not sure if stochastics will get a chance to cycle maybe on the 1 min..

Might end up watching the move happen instead of being a part of it.. dont want to get bit again
  • #51,819
  • Dec 19, 2008 10:39am Dec 19, 2008 10:39am
Quoting Galation
The longer it ranges, the more people who will add short and long limit orders above and below support levels, therefore the bigger the breakout.
agree
that's a good point to have in mind
  • #51,820
  • Dec 19, 2008 10:41am Dec 19, 2008 10:41am
dollar index will hit a trendline resistance soon
prepare for a euro rally sometime... there are bulls hidden somewhere...
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