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  • #58,601
  • Jan 23, 2009 11:10am Jan 23, 2009 11:10am
Could give a nice pinbar on the daily which would push it up to 1.34-1.35 maybe.
  • #58,602
  • Jan 23, 2009 11:11am Jan 23, 2009 11:11am
On my chart it has hit the top end of the previously existing range and may go down again to range again? Just a hunch (newbie speaking).

I caught the ride up for quite a few pips so hopefully the ride down will just as profitable?
  • #58,603
  • Jan 23, 2009 11:11am Jan 23, 2009 11:11am
Quoting Tjpld
Could give a nice pinbar on the daily which could push it up to 1.34-1.35 maybe.
I see end of wave 1 on the daily, going up into two - accompanied by a divergent bar (or pinbar) .. definitely closing out any short.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #58,604
  • Jan 23, 2009 11:12am Jan 23, 2009 11:12am
Its been a crazy day. Breaking S/R levels left and right.
Finally price made it back to the pivot level. NOW, I can expect a strong downward move.
  • #58,605
  • Jan 23, 2009 11:14am Jan 23, 2009 11:14am
Quoting Slight
I see end of wave 1 on the daily, going up into two - accompanied by a divergent bar (or pinbar) .. definitely closing out any short.
Could you post some charts please?
I'm not that good at counting waves.
Might be interssting for all of us.
  • #58,606
  • Jan 23, 2009 11:14am Jan 23, 2009 11:14am
go SHORT!
  • #58,607
  • Jan 23, 2009 11:16am Jan 23, 2009 11:16am
comodities.. i can buy oil from myself at higher price through an exchange like ice unregulated..my only cost is what the exchange charges since its my own oil..and make a few billion in a few hours..only one that can pull this off one of the big producers (deep pockets). in effect moving currency also..cheaper to just move oil.. money will follow. or mark furman with candlestick in the libriary,, gotta go just saw elvis walk by..
those who can, do. those who cant, talk about those who can
  • #58,608
  • Jan 23, 2009 11:17am Jan 23, 2009 11:17am
4h chart: a look into wave 1 .. trend ends in divergence with minimum requirements met for wave 4, after that a new low for wave 5 -->
daily chart: end of internal wave 5 --> end of wave 1 on daily chart, signaled by divergent bar
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 27 KB
Click to Enlarge Name: daily.gif Size: 28 KB
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #58,609
  • Jan 23, 2009 11:21am Jan 23, 2009 11:21am
OK, trend was up and did not break though RSI was overbought. Short at 2860 did not occure and therefore no loss

on 5 minute chart S @ 2925.




Quoting Beeps
Hi Hytham,

welcome to the jungle, you're wise not to trade fridays, please tell me when you think such a trade might be placed...

pips be with you

I do not trade on Fridays because any bad news during weekend might reverse trend. all positions closed on Thursday, thus I have 3 day weekend
  • #58,610
  • Jan 23, 2009 11:22am Jan 23, 2009 11:22am
Watching chart not moving much make me feel like the "brokers" are watching to see which side folks put more $ on so they can the go the opposite way........similar to how wagering on sports



Quoting Jhig
Its been a crazy day. Breaking S/R levels left and right.
Finally price made it back to the pivot level. NOW, I can expect a strong downward move.
  • #58,611
  • Jan 23, 2009 11:24am Jan 23, 2009 11:24am
Quoting conti
go SHORT!
yes, go short fu*cking pound and euro too as well, at least for 150 pips down come on
ROBOT FOREX
  • #58,612
  • Jan 23, 2009 11:25am Jan 23, 2009 11:25am
Quoting Tjpld
Just wow. How old are they. 12?
I'm going to bookmark this it's better than any tv show.
That is brilliant - you must read it, i love the ... "i know only i made a killing again today selling the geman euro this is so easy i am number one in forex"

The German Euro this must be paired with the Spanish Euro
GEUR-SEUR
  • #58,613
  • Jan 23, 2009 11:27am Jan 23, 2009 11:27am
Consolidation time
  • #58,614
  • Jan 23, 2009 11:27am Jan 23, 2009 11:27am
Quoting SeaPip
Watching chart not moving much make me feel like the "brokers" are watching to see which side folks put more $ on so they can the go the opposite way........similar to how wagering on sports
Market at this time continues to move for me. I've been trading the 1 min chart off of S/R Pivot lines. Trying to bank at least 50 pips a trade. Todays was sucessful.
Attached Image (click to enlarge)
Click to Enlarge Name: chart4.png Size: 9 KB
  • #58,615
  • Jan 23, 2009 11:28am Jan 23, 2009 11:28am
Quoting Slight
4h chart: a look into wave 1 .. trend ends in divergence with minimum requirements met for wave 4, after that a new low for wave 5 -->
daily chart: end of internal wave 5 --> end of wave 1 on daily chart, signaled by divergent bar

High today at 3032 is a Resis on 4 Hr chart for dwntrend. Break is unlikely for today.... dont you think?
  • #58,616
  • Jan 23, 2009 11:29am Jan 23, 2009 11:29am
sometimes I guess maybe brokers read this forum and then we say go short, they make it opposite direction on currency, so we have to deceive brokers!
ROBOT FOREX
  • #58,617
  • Jan 23, 2009 11:31am Jan 23, 2009 11:31am
forbes, I gave you a pretty good Idea of where it was going
  • #58,618
  • Jan 23, 2009 11:32am Jan 23, 2009 11:32am
Quoting hytham
High today at 3032 is a Resis on 4 Hr chart for dwntrend. Break is unlikely for today.... dont you think?
Of course. But as you see my charts I am not all that interested in what happens in 1 day. I trade only 4h and dailies... is much more profitable.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #58,619
  • Jan 23, 2009 11:33am Jan 23, 2009 11:33am
Quoting Forbes55
sometimes I guess maybe brokers read this forum and then we say go short, they make it opposite direction on currency, so we have to deceive brokers!

Thanks God I am not broker
  • #58,620
  • Jan 23, 2009 11:39am Jan 23, 2009 11:39am
Quoting Slight
Of course. But as you see my charts I am not all that interested in what happens in 1 day. I trade only 4h and dailies... is much more profitable.
As soon as I can afford wider SL's I'll probably graduate to your level? I can see where it would be much more profitable and a bit smoother ride as well?
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