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  • #7,161
  • Jan 14, 2009 11:00am Jan 14, 2009 11:00am
Quoting Shermenator
Might now give long trades ...this is a daily trade guys so make a plan....

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Forgot to add the fibb to my thinking lol

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  • #7,162
  • Jan 14, 2009 11:16am Jan 14, 2009 11:16am
Quoting Shermenator
Might now give long trades ...this is a daily trade guys so make a plan....

Attachment
Are you suggesting longs if the daily closes above 50% fib and the support? Or just closing above yesterdays low?
  • #7,163
  • Jan 14, 2009 11:37am Jan 14, 2009 11:37am
Thanks Thomas for this share. It really is a cool site.


rgds


Quoting tdeu
Hi,

check this out.

http://forex-trading-signals.net/dai...istance-levels

Updated around 2:00 pm GMT, a bit late if you start at 7:00 am GMT.

best regards

Thomas
  • #7,164
  • Jan 14, 2009 1:18pm Jan 14, 2009 1:18pm
Quoting ishacm
Thanks Thomas for this share. It really is a cool site.


rgds

Try and look at the levels and ask yourself if the market is at bargain price at that point...most people can draw lines on their charts but swing at everything the market throws....look at the level and see if its a bragain when price gets to that supply and demand area....the more price goes up the more sellers gather since it becomes a bargain to sell ...the more price goes down the more of a bargain it becomes for a buyer...think like an investor and you will make it in forex very easy
  • #7,165
  • Jan 14, 2009 5:51pm Jan 14, 2009 5:51pm
Morning,

There's that bounce Smittens hope you made a few from that.

Looking forward 1300 is the next level to go on Eur and take a look at usd/cad stuck betwwen a rock and a hard place. If the 61 fb level gets taken out we could be seeing those highs again. Big move on this one yesterday but i'm guessing any retracement will be held by the 12377 area, what say you guys?
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  • #7,166
  • Jan 14, 2009 5:58pm Jan 14, 2009 5:58pm
Anyone planning to sell the break of this level?

price has been around there for ages
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  • #7,167
  • Jan 14, 2009 6:05pm Jan 14, 2009 6:05pm
Quoting misterboy
Anyone planning to sell the break of this level?

price has been around there for ages


nope market makers are the only once that postion themself prior to the breakout and they have an Idea of when its coming , majority of the time I dont like to be quessing so I dont look at that.....goodluck in it....just my opinion no offense
  • #7,168
  • Jan 14, 2009 6:07pm Jan 14, 2009 6:07pm
Quoting Shermenator
Forgot to add the fibb to my thinking lol

Attachment
Hope you guys made a plan around the area I gave for longs and made pips....peace later guys
  • #7,169
  • Jan 14, 2009 6:13pm Jan 14, 2009 6:13pm
Quoting Shermenator
nope market makers are the only once that postion themself prior to the breakout and they have an Idea of when its coming , majority of the time I dont like to be quessing so I dont look at that.....goodluck in it....just my opinion no offense
Im not jumpng in either...just considering "after" it breask...I missed 2-3 nice breakout trades this week
  • #7,170
  • Jan 14, 2009 6:22pm Jan 14, 2009 6:22pm
Quoting misterboy
Im not jumpng in either...just considering "after" it breask...I missed 2-3 nice breakout trades this week


Oh for sure there are plenty of of sell orders below levels like these and having one to go isn't a bad idea. Any level will only hold for so long and if it is a major one there's no reason why you should try and second guess if it will break or not.

Check out whats below it does it have room to run? Are the fundamentals on your side (NZD comod pair) better to keep all options on the table.
  • #7,171
  • Jan 14, 2009 6:28pm Jan 14, 2009 6:28pm
Quoting Siam
Oh for sure there are plenty of of sell orders below levels like these and having one to go isn't a bad idea. Any level will only hold for so long and if it is a major one there's no reason why you should try and second guess if it will break or not.

Check out whats below it does it have room to run? Are the fundamentals on your side (NZD comod pair) better to keep all options on the table.
Yes. I think i'll just wait and see than place an order.

Next area on my chart is somewhere around 5200....quite a bit of room still..
  • #7,172
  • Jan 14, 2009 6:40pm Jan 14, 2009 6:40pm
USD/CAD seems to be at a turning point s/r level.
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bull in a china shop
  • #7,173
  • Jan 14, 2009 7:50pm Jan 14, 2009 7:50pm
Quoting Siam
Morning,

There's that bounce Smittens hope you made a few from that.

Looking forward 1300 is the next level to go on Eur and take a look at usd/cad stuck betwwen a rock and a hard place. If the 61 fb level gets taken out we could be seeing those highs again. Big move on this one yesterday but i'm guessing any retracement will be held by the 12377 area, what say you guys?
Actually ending up holding off on any EURUSD longs and went short at 1.3240 down to 1.3100 for a nice 140. I had 1.3325 marked up and missed it.. because the alert I set was for the AUD/CAD for some reason! Still got in on a bucket that formed on its way down though, so I was happy.

I'll be trading tonight, won't hold into the ECB announcement though.

Also, kudos to Shermanator (I think) for using trendlines in MT4 as horizontal S/R lines. Helps to clarify the charts a bit, I've started using them already. Simple but effective idea.
  • #7,174
  • Jan 14, 2009 7:57pm Jan 14, 2009 7:57pm
Hy Flick my ash,

We used this range already yesterday. I have 1.2369-12384.

Let's see if it comes back. hope so.

regards

Thomas

Quoting Siam
Morning,

There's that bounce Smittens hope you made a few from that.

Looking forward 1300 is the next level to go on Eur and take a look at usd/cad stuck betwwen a rock and a hard place. If the 61 fb level gets taken out we could be seeing those highs again. Big move on this one yesterday but i'm guessing any retracement will be held by the 12377 area, what say you guys?
  • #7,175
  • Jan 14, 2009 8:39pm Jan 14, 2009 8:39pm
Quoting tdeu
Hy Flick my ash,

We used this range already yesterday. I have 1.2369-12384.

Let's see if it comes back. hope so.

regards

Thomas

Sorry you mean you were using that level for resistance yesterday? If i'm right that now means we are looking at it 4 support.
  • #7,176
  • Jan 14, 2009 8:50pm Jan 14, 2009 8:50pm
Hello Siam,

price used it as support for a pullback (1.2371). You see in smaller TF.

Regards

Thomas

Quoting Siam
Sorry you mean you were using that level for resistance yesterday? If i'm right that now means we are looking at it 4 support.
  • #7,177
  • Jan 14, 2009 10:01pm Jan 14, 2009 10:01pm
Hi,

What do you think will Aussie bounce at 6540 (slightly above 62% retracement of the last upswing) or further down at 6490?

regards

Thomas
  • #7,178
  • Jan 14, 2009 10:58pm Jan 14, 2009 10:58pm
Hello,

Do you reckon it makes sense to short the 38% retr. of the last downswing from the beginning of this month at 1.4812? The next level would be around 1.4990.

regards

Thomas
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  • #7,179
  • Jan 14, 2009 11:14pm Jan 14, 2009 11:14pm
Hey whats up guys
  • #7,180
  • Jan 14, 2009 11:32pm Jan 14, 2009 11:32pm
Try long 5750-5770 for a scalp.

Can't make my mind up about trend direction. Maybe we're building a bottom.

regards

Thomas
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