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  • #56,341
  • Jan 14, 2009 4:52am Jan 14, 2009 4:52am
Quoting Navigator
It's everybody to his own but I just see divergence as an early indication of what may happen.

Breakouts of TL's or horizontal lines are usually good for a few pips and yes I set the TP at the ATR amount but always manually close on the first stall if the TP isn't reached. SL also initially at ATR but I move mine to BE +1 immediately after the breakout...just in case...I never worry about closing too soon...lol...You can take your breakout profit and run or look for a trend trade. Price most often retraces to the breakout level and then one can...
Thanks, I have a huge problem with TP, I am still to greedy and stay in trades way to long, so I think I'll start having a good look at the ATR.
  • #56,342
  • Jan 14, 2009 4:55am Jan 14, 2009 4:55am
omgg.. if i hadn't slept, would've closed my tp at 3195.
  • #56,343
  • Jan 14, 2009 5:01am Jan 14, 2009 5:01am
I'm long @ .3230 Profit locked on +1 I hope we will see .3300. What do you think. On my 15 min chart it is getting bullish right now.
  • #56,344
  • Jan 14, 2009 5:05am Jan 14, 2009 5:05am
Quoting RumiPL
I'm long @ .3230 Profit locked on +1 I hope we will see .3300. What do you think. On my 15 min chart it is getting bullish right now.
were still below the 21 MA on 15M and 30M and 3250 psyc level.. so not seeing entry quite yet..

also 50 MA on 15M still below it as well
  • #56,345
  • Jan 14, 2009 5:05am Jan 14, 2009 5:05am
Looks like H&S is creating...
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  • #56,346
  • Jan 14, 2009 5:07am Jan 14, 2009 5:07am
On m15 alone.. it just closed above resistance... H1 is right at the 7/21 cross back down... which is usually GREAT for a short on the retouch... however it's already happened. So, from here it's free to go long or short

I wouldn't be surpirse to see e/u take off long again... it's already done it's h1 50 ema move.. and now new low.. and still supported by the channel from yesterday

Quoting RumiPL
I'm long @ .3230 Profit locked on +1 I hope we will see .3300. What do you think. On my 15 min chart it is getting bullish right now.
DireXiv Make it happen, no one else is going to do it for you...
  • #56,347
  • Jan 14, 2009 5:08am Jan 14, 2009 5:08am
daily candle has formed. Could be positioning by big money ahead of rate cut.
  • #56,348
  • Jan 14, 2009 5:09am Jan 14, 2009 5:09am
Yea I'm still waiting to see it getting over .3250 . On my chart it is bouncing around +/- 5 pip
  • #56,349
  • Jan 14, 2009 5:12am Jan 14, 2009 5:12am
Quoting Jnita
Thanks, I have a huge problem with TP, I am still to greedy and stay in trades way to long, so I think I'll start having a good look at the ATR.
Just exited for nice little profit, but I know what you mean Jnita. Could have been more and I had 4 opportunities take my planned target. I can see right now that the damn thing has gone up some more.

Oh well, thats the nature of this business. Nevermind
  • #56,350
  • Jan 14, 2009 5:21am Jan 14, 2009 5:21am
1.3310 works magic again and I prefer a bounce from there yet again.
  • #56,351
  • Jan 14, 2009 5:22am Jan 14, 2009 5:22am
Quoting RumiPL
I'm long @ .3230 Profit locked on +1 I hope we will see .3300. What do you think. On my 15 min chart it is getting bullish right now.
Thats a good trade RumiPL.
  • #56,352
  • Jan 14, 2009 5:26am Jan 14, 2009 5:26am
Take care with those longs now. The DOW is off those intraday lows.
  • #56,353
  • Jan 14, 2009 5:27am Jan 14, 2009 5:27am
We will see another downtrend tonight. Dollar index has found very good support at pivot. So whoever in long should aware of many possible eager SELLERS waiting in line.
  • #56,354
  • Jan 14, 2009 5:37am Jan 14, 2009 5:37am
Quoting Jnita
Thanks, I have a huge problem with TP, I am still to greedy and stay in trades way to long, so I think I'll start having a good look at the ATR.
First of all price patterns are pretty much the same on any time frame so one's preferred system should have the same success rate. The higher the time frame, the greater the ATR so the smaller the lot size. I've sometimes wondered why I didn't trade some of the long 4 hour trends. They look fantastic after the event but (I think) so difficult to predict beforehand. This is paticularly true of the present time of uncertainty.

To be quite frank I find it impossible to relax when I'm in a trade so I guess my temperament is best suited to quick trades on short time frames. Take profit, run and forget...lol..

I have the greatest respect for successful swing and position traders and I'm sure they have confidence in what they are doing which no doubt gives them peace of mind.

Safe trading
  • #56,355
  • Jan 14, 2009 5:40am Jan 14, 2009 5:40am
I have a question or point to make:
I have noticed that many many people on here will have an opinion - it will rise, it will fall. Thing is 50% they're right, 50% they're wrong.
However I have noticed that a few individuals post opinions, supported by a chart and explanaition. This I like, what I dont see the point of is someone posting a comment such as "its hit support its gonna tumble"

Why do people feel it necessary to post unsupported gut feelings?
To be honest I take absoluteley no notice of what the majority of opinions on this thread say, I make my own analysis and stick with it.

I'd like to see less 'gut instincts' and more supported theories and questions.
Isn't the point of this to help each other learn - not show off and say "look at me I got it right again"?
  • #56,356
  • Jan 14, 2009 5:43am Jan 14, 2009 5:43am
Quoting andys0506
<snipped>
I'd like to see less 'gut instincts' and more supported theories and questions.
Isn't the point of this to help each other learn - not show off and say "look at me I got it right again"?
here here
  • #56,357
  • Jan 14, 2009 5:51am Jan 14, 2009 5:51am
Quote
Why do people feel it necessary to post unsupported gut feelings?
Andy - Don't forget most people on here are trading demo accounts, and have no idea, and a gut feel, is what they think! is right ... wait till they use real money, not many will post gut feelings then - just my 3 cents.
  • #56,358
  • Jan 14, 2009 5:52am Jan 14, 2009 5:52am
Quoting Navigator
First of all price patterns are pretty much the same on any time frame so one's preferred system should have the same success rate. The higher the time frame, the greater the ATR so the smaller the lot size. I've sometimes wondered why I didn't trade some of the long 4 hour trends. They look fantastic after the event but (I think) so difficult to predict beforehand. This is paticularly true of the present time of uncertainty.

To be quite frank I find it impossible to relax when I'm in a trade so I guess my temperament is best suited to quick trades...
I agree totally to your words. I have a similar problem. I trade with a reasonable sucess the 4H period. But I mixed myself when I try to trade shorter periods, especially 30M.
  • #56,359
  • Jan 14, 2009 6:01am Jan 14, 2009 6:01am
Quoting ak4x
I'm curious why you think that it would go there. much less break it... Reason I ask is the 34sma on 30m has held quite nicely and price has gotten nowhere near the 62ema since it crashed down thru it back on Jan 9.

Price only broke the 34 sma for a period yesterday but was held firmly by the 50ema with no problem. So are you expecting something to push it thru that resistance any time soon?
Did you see it did go above 30 m 62 ema after all like i was thinking it will.

Made nice bounce of 4 hr gann blue line and i add 1 more short at 3320 pivot line with Sl little above daily 5 ema.Now waiting 3160 level to see action,3100 and 3000 if everything goes well.Theare i am thinking to close all shorts and to wait range that might be in that area to get over and to see what next.

Chart coming very soon
  • #56,360
  • Jan 14, 2009 6:02am Jan 14, 2009 6:02am
and chart is this
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