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  • #54,801
  • Jan 7, 2009 2:45pm Jan 7, 2009 2:45pm
Quoting iii
Are you actually trading or just posting for the heck of it?
I dont use fibs just PA, so I went short 2 more lots at 1.3645.
yeah short at 47 with spread 44 really with 6@10,000 so I am a little finiky sorry thats the most I have traded with at once. Its 10% of my account which is what I am sticking to.
  • #54,802
  • Jan 7, 2009 2:49pm Jan 7, 2009 2:49pm
Just read the last page and I'm shocked how much people thing risking 150 Pips on a trade is riskier than risking only 10. Don't choose your position size randomly!

I explained just that to one other forum member. Maybe some should take 2-3 minutes and read the whole thing. You will get rewarded.

http://www.forexfactory.com/showthread.php?t=114186
  • #54,803
  • Jan 7, 2009 3:16pm Jan 7, 2009 3:16pm
Quoting iii
Nope I am thinking longer term...1.28 or so, we will see.
you still shorting at this level
  • #54,804
  • Jan 7, 2009 3:17pm Jan 7, 2009 3:17pm
Quoting klinckphilip
you still shorting at this level
Still short, but have not added more lots yet.
  • #54,805
  • Jan 7, 2009 3:21pm Jan 7, 2009 3:21pm
Can someone experienced with patterns look at my chart and let me know if this is a possibility or let me know I am full of doody? My wife already says I am full of doody! Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 1a head and shoulder.png Size: 36 KB
  • #54,806
  • Jan 7, 2009 3:31pm Jan 7, 2009 3:31pm
Quoting Gofer Pips
Can someone experienced with patterns look at my chart and let me know if this is a possibility or let me know I am full of doody? My wife already says I am full of doody! Thanks.
I dont smell much doody looking at your chart, I also think that it will head south.
  • #54,807
  • Jan 7, 2009 3:38pm Jan 7, 2009 3:38pm
Quoting iii
Dont jump to such conclusions just yet, dollar is the most abundant currency in the world, so printing 1.2 trillion more of it will not effect its "value" as much as it would euro or pound in an identical instance...both euro and bound are likely to experience an identical overprinting.
Edit: sorry I am an idiot, I meant to quote the guy who you quoted.
You might want to read this article about something called "M1 money multiplier". Trillion is a lot of money.

http://market-ticker.org/archives/70...Flat-Spin.html
  • #54,808
  • Jan 7, 2009 3:40pm Jan 7, 2009 3:40pm
Quoting iii
I dont smell much doody looking at your chart, I also think that it will head south.
Thanks! I guess I can get another day out of my britches!
Attached Image
  • #54,809
  • Edited 3:56pm Jan 7, 2009 3:56pm | Edited 3:56pm
Gofer pips, you have one shoulder and a bit more than half a head , for the complete pattern to form, it should take around 12 hours... so it's obviously too soon and a waste of time to go there, since the daily trend is still up, and tomorrow we'll have more important/unemployment news...

On short term thinking(next couple of hours), we have an up channel, a resistance around 1.3740 a support around 1.3580.

If it breaks either one of those, look for signals to go with the correct trend.

I'll be around, but i must stop myself from posting here. It has been hilarious today.
Traders are smartasses
  • #54,810
  • Jan 7, 2009 4:00pm Jan 7, 2009 4:00pm
Quoting iii
I dont smell much doody looking at your chart, I also think that it will head south.
wow just came back from working out and though my 75 was going to get hit then started to slow. If I wasnt in the red would have added another one
  • #54,811
  • Jan 7, 2009 4:01pm Jan 7, 2009 4:01pm
Quoting mikkom
You might want to read this article about something called "M1 money multiplier". Trillion is a lot of money.

http://market-ticker.org/archives/70...Flat-Spin.html
Did I anywhere in my post say that a trillion is not alot of money? Please highlight that part, because I am getting old and cant seem to find it.
  • #54,812
  • Jan 7, 2009 4:02pm Jan 7, 2009 4:02pm
Quoting klinckphilip
wow just came back from working out and though my 75 was going to get hit then started to slow. If I wasnt in the red would have added another one
I added one more lot at 1.3652.
  • #54,813
  • Jan 7, 2009 4:03pm Jan 7, 2009 4:03pm
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
8-1-09
I have just entered a long position on the EUR/USD at 1.3660
at 9am Australian Eastern time.
with a stop of 250 points
first profit target at 1.3860

im basing my trade on The close of the prior daily candle taking the
form of a hammer, and the current daily candle which has just closed has formed a bullish engulfing candle, im anticipating the price to rise from here.
Im also basing my trade on the anticpation of the price
completeing a classic formation, the inverted head and shoulders.
The inverted head and shoulders on the daily chart is usualy
seen in a downtrend and im targeting the neckline and beyond for
my final profit targets.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 243 KB
Ronin77
  • #54,814
  • Jan 7, 2009 4:15pm Jan 7, 2009 4:15pm
Quoting Ronin77
8-1-09
I have just entered a long position on the EUR/USD at 1.3660
at 9am Australian Eastern time.
with a stop of 250 points
first profit target at 1.3860

im basing my trade on The close of the prior daily candle taking the
form of a hammer, and the current daily candle which has just closed has formed a bullish engulfing candle, im anticipating the price to rise from here.
Im also basing my trade on the anticpation of the...
You long bro?
I thought everyone here short
  • #54,815
  • Jan 7, 2009 4:19pm Jan 7, 2009 4:19pm
Quoting Spsantos
Gofer pips, you have one shoulder and a bit more than half a head , for the complete pattern to form, it should take around 12 hours... so it's obviously too soon and a waste of time to go there, since the daily trend is still up, and tomorrow we'll have more important/unemployment news...

On short term thinking(next couple of hours), we have an up channel, a resistance around 1.3740 a support around 1.3580.

If it breaks either one of those, look for signals to go with the correct trend.

I'll be around, but i must stop myself from posting...
Thanks! That is why I wrote a possibility. It looked to me at the time that the head was forming as it fell, but now the head looks like it has decided to put the ears on

I posted chart earlier this morning and have, on the downside a target1 of .3580, target2 .3529, and on the upside if .3747 breaks we may go to at least .3840 area.

As far as tomorrow, alot of the unemployment expectations are probably already baked in, and may even be over-ripe....we'll see.
  • #54,816
  • Jan 7, 2009 4:23pm Jan 7, 2009 4:23pm
Quoting Atondra
You long bro?
I thought everyone here short
yeah well they are squeezeing me
  • #54,817
  • Jan 7, 2009 4:25pm Jan 7, 2009 4:25pm
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Quoting Atondra
You long bro?
I thought everyone here short

Long from here
Ronin77
  • #54,818
  • Jan 7, 2009 4:27pm Jan 7, 2009 4:27pm
Quoting Gofer Pips
As far as tomorrow, alot of the unemployment expectations are probably already baked in, and may even be over-ripe....we'll see.
It's very likely, as usuall its best to watch how London will open and see the trend from there, then at news time, wait for the reactions if any
Traders are smartasses
  • #54,819
  • Jan 7, 2009 4:27pm Jan 7, 2009 4:27pm
Quoting Atondra
You long bro?
I thought everyone here short
Well I'm long too with the same target as Ronin77 .
  • #54,820
  • Jan 7, 2009 4:27pm Jan 7, 2009 4:27pm
Random post:

I could me more than wrong, which is why I did this on a demo, but I'm long looking for the 61.8-ish area. I am trading on pretty small time frames.

http://i43.tinypic.com/2jdm4d1.jpg
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