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  • #53,421
  • Jan 4, 2009 6:53pm Jan 4, 2009 6:53pm
Quoting iii
I am still short biased for today.
are you still short position at 1.3895? or have you closed position and moved higher?
  • #53,422
  • Jan 4, 2009 6:57pm Jan 4, 2009 6:57pm
Quoting TIckerShuffl
1.3920

Lots of conflicting analysis on different time frames.
hrmm. it just touched 1.3960... whats your take on that?
  • #53,423
  • Jan 4, 2009 7:00pm Jan 4, 2009 7:00pm
Quoting SunTrader
That is not even close to the R1 I have, which is 1.4014

How are you calculating yours and what close are you using?

I realize now that is R1 Mid. I think metatrader users call it something else, but it is not the standard R1

of adjusting there pivot points later than most. But I am not using the r1 as I suggest. Just using it as a reference point. Look at a naked chart, The channel I mentioned is clearly defined. No r1's no pivot's nothing but bars. I will post my chart to show you.
  • #53,424
  • Jan 4, 2009 7:04pm Jan 4, 2009 7:04pm
Wierd considering I'm an award winning painter lol. anyway's here is a chart. Nor my spelling for that matter. lol
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  • #53,425
  • Jan 4, 2009 7:10pm Jan 4, 2009 7:10pm
Well I wouldn't be using pivots either if it wasn't what most others are going by.
  • #53,426
  • Jan 4, 2009 7:12pm Jan 4, 2009 7:12pm
sorry to throw everyone off the subject here, but has any one had experience with Forex.com? My main concern is does their demo matches their live accounts? I am planning to open another platform with another broker. I prefer the demos to match the live accounts/
  • #53,427
  • Jan 4, 2009 7:13pm Jan 4, 2009 7:13pm
But had to pull more tools out of the tool box for these times of sporadic volume. Nothing is the norm anymore. News events don't move the market. Sometimes the Dow correlates, sometimes it doesn't. Strange times!
  • #53,428
  • Jan 4, 2009 7:15pm Jan 4, 2009 7:15pm
Quoting iii
Pivots are highly subjective...
Au contraire, pivots are about as objective as one can get. They are based on precise mathematical formulae, with precise beginning and end times (why people have such a hard time coming to grips with this and spend countless pages of message board postings to understand such a simple concept is beyond me). So unless you see mathematics as being highly subjective, I fail to see how you're statement has any validity.

Now, whether pivots have any merit when it comes to determing price action is, of course, a whole different story, but really has nothing to do with their inherent objectivity. Anyhoo, have a succesful night trading. I for one am glad these holidays are behind us and we can all go back to this wonderful world of trading.

Ya'll have a good one...
  • #53,429
  • Jan 4, 2009 7:21pm Jan 4, 2009 7:21pm
Markets corelate and then they don't. Things are volatile and then they aren't. News makes sense and then it doesn't. Big range days follow small range days and vice versa. Round and round.

The more things change the more they stay the same.
  • #53,430
  • Jan 4, 2009 7:22pm Jan 4, 2009 7:22pm
Quoting Turhovach
Au contraire, pivots are about as objective as one can get....


Meant to mention that point as well.
  • #53,431
  • Jan 4, 2009 7:24pm Jan 4, 2009 7:24pm
Quoting gregam1128
of adjusting there pivot points later than most. But I am not using the r1 as I suggest. Just using it as a reference point. Look at a naked chart, The channel I mentioned is clearly defined. No r1's no pivot's nothing but bars. I will post my chart to show you.
Im currently keeping clear of scalping for Eur or Gbp usd...it can swing either direction..but I do have shorts for both EurUsd and GBPusd

Pending Short at EurUsd at 3780 with SL of 10 and placing Trailing Stop at 15 pips. Intend to increase TS after 50 pip spread profit. A couple of Support levels to enter new Shorts below them.

Pending Short GBPUsd will have some room to run if it breaks well below 4400 level. with similar placement as EuroUsd

Entered Long USDChf at 1.0715 setting TS of 25 at 1.085, SL for 1% risk.

Of all the entries..I feel most comfortable with the UsdChf entry. Others are questionable..can swing either direction...Trends are still questionable...
Resistance and Supports only real markers to keep things in check

My entries are for real cash, no demo...2.5 lot per order pending or entered.
Keeping the lot size small...when risk is high...
  • #53,432
  • Jan 4, 2009 7:24pm Jan 4, 2009 7:24pm
around 11:00 am Monday mornings est. That seems to be when my mt4 platform catches up to the rest of the world lol.
  • #53,433
  • Jan 4, 2009 7:26pm Jan 4, 2009 7:26pm
iii ; Why are you feeding the frenzy without positve proof?


My beliefe is 'SHORT TERM CORRECTION" Before resuming Normal broadcasting.


Looking for Short Entries to carry me forward.
1.3600 looks attractive to me over the next weeks.
  • #53,434
  • Jan 4, 2009 7:27pm Jan 4, 2009 7:27pm
Quoting JammerJams
Im currently keeping clear of scalping for Eur or Gbp usd...it can swing either direction..but I do have shorts for both EurUsd and GBPusd

Pending Short at EurUsd at 3780 with SL of 10 and placing Trailing Stop at 15 pips. Intend to increase TS after 50 pip spread profit. A couple of Support levels to enter new Shorts below them.

Pending Short GBPUsd will have some room to run if it breaks well below 4400 level. with similar placement as EuroUsd

Entered Long USDChf at 1.0715 setting TS of 25 at 1.085, SL for 1% risk.

Of all the entries..I...
Last month was a real good month. Could have made more, but let the trailing stops do there parts. I'm currently scalping a mini with 2 contracts until next week. Then I'll go back to longer term. (Jacko method)
  • #53,435
  • Jan 4, 2009 7:29pm Jan 4, 2009 7:29pm
of touching 3971 before retesting 3840 This is a broker's market right now!!!!!!!!!!!!!!
  • #53,436
  • Jan 4, 2009 7:32pm Jan 4, 2009 7:32pm
Quoting PipPipPip
sorry to throw everyone off the subject here, but has any one had experience with Forex.com? My main concern is does their demo matches their live accounts? I am planning to open another platform with another broker. I prefer the demos to match the live accounts/
there are several very real differences between any demo and live account.

 

  1. Demo account entries always occur...Live may not occur because of high volume of entries...at what often seems critical moment
  2. Demo accounts do not have to worry about dynamic spread changes or volatile spread modifications by the brokerage...I was stopped out during Thanks giving holidays...because the spreads grew to over 22 pips sporatically.

I do not know of any demo trade provider that wants to mimick the actual trading environment. It would scare any potential traders away if they trully knew. I''ve been on several platforms..and all demo trading is easy and slick in comparison to Live accounts.

  • #53,437
  • Jan 4, 2009 7:36pm Jan 4, 2009 7:36pm
Quoting gregam1128
of touching 3971 before retesting 3840 This is a broker's market right now!!!!!!!!!!!!!!

http://www.forexfactory.com/images/icons/icon10.gif
  • #53,438
  • Jan 4, 2009 7:36pm Jan 4, 2009 7:36pm
Quoting gregam1128
of touching 3971 before retesting 3840 This is a broker's market right now!!!!!!!!!!!!!!

You are so correct...
This is a brokers market..spreads are dynamic and whipsawing occurs consistently...

Be cautious..and only trade at breached barriers...or channels that are clear of News reports..
  • #53,439
  • Jan 4, 2009 7:38pm Jan 4, 2009 7:38pm
Quoting gregam1128
of touching 3971 before retesting 3840 This is a broker's market right now!!!!!!!!!!!!!!
Price has tested 23.6%( .3962) retracement of weeks hi to lo twice and met resistance. IMO, if we close 1H above this level, shorts could be in jeopardy as next level of resistance is around .4030. Remember, we are in the crazy Sunday night market and coming off a holiday. We may have better guidance after euro session and US session crossover. Plus, no big news items until Tuesday.

Good pipping!

EDIT: Forgot the chart
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  • #53,440
  • Jan 4, 2009 7:41pm Jan 4, 2009 7:41pm
Quoting PipPipPip
are you still short position at 1.3895? or have you closed position and moved higher?
If you read my post from 3 pages ago, my sl was hit, so position was closed at +1 pip, I dont hold on to losing trades for too long.
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