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  • #52,881
  • Dec 30, 2008 2:44am Dec 30, 2008 2:44am
Quoting altrader
i'm just wondering if we might see a retrace back to 1.44 today. I think it is possible.
Agree with you... possible.
Psychology = Nature = Evolving Forex Market rite?
  • #52,882
  • Edited 2:53am Dec 30, 2008 2:49am | Edited 2:53am
Got a perfect gartley on the 1hr with point "D" projected to 14195 or 14270 areas.
After that, we could head back down.
If it's too good to be true, it probably is.
  • #52,883
  • Dec 30, 2008 3:18am Dec 30, 2008 3:18am
Guys , What u think.
Looks like its gonna break soon , there is an possibility it will reach 1.4250 or go down to 1.3900.
  • #52,884
  • Dec 30, 2008 3:23am Dec 30, 2008 3:23am
Quoting gsbotes
Guys , What u think.
Looks like its gonna break soon , there is an possibility it will reach 1.4250 or go down to 1.3900.
I am waiting for little mini-down movement from 1.4180, after taking 100 pip profit (hope so I will look if trend will break 1.4015 and if so - will go short again.
  • #52,885
  • Dec 30, 2008 3:25am Dec 30, 2008 3:25am
Quoting gsbotes
Guys , What u think.
Looks like its gonna break soon , there is an possibility it will reach 1.4250 or go down to 1.3900.
First it should test the 1.4200 mark and then we can wait for test of 1.4250, on 4h the pair has formed downtrend channel, so its going up it should try to test 1.4300 also.
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  • #52,886
  • Dec 30, 2008 3:30am Dec 30, 2008 3:30am
Quoting SimonK
Got a perfect gartley on the 1hr with point "D" projected to 14195 or 14270 areas.
After that, we could head back down.
looking for 4189 to short - target 4006 - order in
we'll see
just my opinion
  • #52,887
  • Dec 30, 2008 3:35am Dec 30, 2008 3:35am
4110 could be safe level to go long, anybody waiting for this?
/ ... clarifying decisions ... /
  • #52,888
  • Dec 30, 2008 3:36am Dec 30, 2008 3:36am
Quoting Javed
First it should test the 1.4200 mark and then we can wait for test of 1.4250, on 4h the pair has formed downtrend channel, so its going up it should try to test 1.4300 also.

Yep I agree, first it will test 1.4200, if it breaks it could go up to test 1.4290, but market is now already overbought, so I'll probably go short already on 1.4200 with tight stopp/loss, and if gets 1.4290 I'm going short for sure
  • #52,889
  • Dec 30, 2008 3:38am Dec 30, 2008 3:38am
If the price go up to 1.4290 then i will take short
  • #52,890
  • Dec 30, 2008 3:41am Dec 30, 2008 3:41am
Quoting golatigo
looking for 4189 to short - target 4006 - order in
we'll see
just my opinion
I think we could go as high as 14260.

Just my opinion too, please dont trade on it!
If it's too good to be true, it probably is.
  • #52,891
  • Dec 30, 2008 3:47am Dec 30, 2008 3:47am
Quoting Stunt
Yep I agree, first it will test 1.4200, if it breaks it could go up to test 1.4290, but market is now already overbought, so I'll probably go short already on 1.4200 with tight stopp/loss, and if gets 1.4290 I'm going short for sure
remeber 418x is 50% fibo of larger down trend so if that breaks conclusively - there could be a lot of upside.

in such think illiquid markets its never advisable to look at indicators for overbought/sold - just follow the price action on multiple time frame charts.
  • #52,892
  • Dec 30, 2008 3:47am Dec 30, 2008 3:47am
Quoting Stunt
Yep I agree, first it will test 1.4200, if it breaks it could go up to test 1.4290, but market is now already overbought, so I'll probably go short already on 1.4200 with tight stopp/loss, and if gets 1.4290 I'm going short for sure
Yes, 1.4290 will be a good place to go short as the it some 10-20 pips below the down channel, looking for the same
  • #52,893
  • Dec 30, 2008 3:52am Dec 30, 2008 3:52am
tnks Gmohata, I missed that fibo line , if it breaks it could really go much up, so I'm waiting for 1.4290 to enter short
  • #52,894
  • Dec 30, 2008 4:09am Dec 30, 2008 4:09am
Quoting Stunt
tnks Gmohata, I missed that fibo line , if it breaks it could really go much up, so I'm waiting for 1.4290 to enter short
i went short there as well, but its being well tested i dont think it will hold now
  • #52,895
  • Dec 30, 2008 4:09am Dec 30, 2008 4:09am
Quoting Stunt
tnks Gmohata, I missed that fibo line , if it breaks it could really go much up, so I'm waiting for 1.4290 to enter short
if you go short at 4290 - you may want to keep your s/l atleast above 4375 - yesterday's high and strong resistance area.

Once again markets are very illiquid to have a predetermined trade - better to follow price action and wait for exhaustion and confirmation of the current run up before entering a short.

Also may want to wait to see where Dow heads before taking a short on this pair. If it goes down it will 2 hours into the NY session

gm
  • #52,896
  • Dec 30, 2008 4:10am Dec 30, 2008 4:10am
Quoting gmohata
remeber 418x is 50% fibo of larger down trend so if that breaks conclusively - there could be a lot of upside.

in such think illiquid markets its never advisable to look at indicators for overbought/sold - just follow the price action on multiple time frame charts.
ditto

Currently long from 173, looking for 247 (daily R1) where I will tighten stop, then around the 300 level (downtrend line from Dec 18 peak) before a retracement back down a little.
  • #52,897
  • Dec 30, 2008 4:17am Dec 30, 2008 4:17am
i am long since 4131. I'm thinking of exiting now though
  • #52,898
  • Dec 30, 2008 4:17am Dec 30, 2008 4:17am
unpredictable in my eyes.

advise: dont base ur trading right now on ppls foresight in this thread :nerd:
  • #52,899
  • Dec 30, 2008 4:25am Dec 30, 2008 4:25am
Quoting fortaleza
unpredictable in my eyes.

advise: dont base ur trading right now on ppls foresight in this thread :nerd:
true. I exited my trade and took profit. I'm going to wait for a significant pull back before i enter again or I will just call it quits for the day
  • #52,900
  • Dec 30, 2008 4:30am Dec 30, 2008 4:30am
Quoting fortaleza
unpredictable in my eyes.

advise: dont base ur trading right now on ppls foresight in this thread :nerd:
Yes, because every trader is unique and as I read in some book, every trader should have their own opnion which doesnt depend on external and internal factors
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