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  • #58,661
  • Jan 23, 2009 2:52pm Jan 23, 2009 2:52pm
Quoting Mackeymax
Driver55:


could you please share (by looking at the weekly e/u) why you see an opportunity for a long trade...and do you have a short term target price or a longer term price....

thanks again,

mm

p.s. always looking to learn from trading longer time frame charts!
__________________

This is the reason why I've longed

It's clear that on a weekly chart you can not be precisely at athe single pip

Attached Image (click to enlarge)
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The best thing that can happen to you is to find out where you're wrong.
  • #58,662
  • Jan 23, 2009 2:54pm Jan 23, 2009 2:54pm
Quoting Tjpld
Could give a nice pinbar on the daily which would push it up to 1.34-1.35 maybe.
Could also be bearish - lower highs, lower lows, right?
Up or down, gimme a ticket
  • #58,663
  • Jan 23, 2009 2:54pm Jan 23, 2009 2:54pm
stupid is what stupid does.. the trend is your freind.. (excluding scalpers)
those who can, do. those who cant, talk about those who can
  • #58,664
  • Jan 23, 2009 2:58pm Jan 23, 2009 2:58pm
[quote=Driver55;2490686]This is the reason why I've longed

It's clear that on a weekly chart you can not be precisely at athe single pip

[/quote

so, it looks like a temp. double bottom...thanks for the explanation....it looks like 10dma and the 20dma on weekly are around 1.33-1.34...poss. resistance and/or target price for you then?

thanks again,

mm
He who hesitates is hesitant....which always leads to bad entries.
  • #58,665
  • Jan 23, 2009 3:00pm Jan 23, 2009 3:00pm
Have a good weekend everyone.
Up or down, gimme a ticket
  • #58,666
  • Jan 23, 2009 3:02pm Jan 23, 2009 3:02pm
driver and mm, be sure to check your pm's.. not sure if you have the pop up thingy enabled to notify you.
FUBAR...
  • #58,667
  • Jan 23, 2009 3:07pm Jan 23, 2009 3:07pm
[quote=Mackeymax;2490695]
Quoting Driver55
This is the reason why I've longed

It's clear that on a weekly chart you can not be precisely at athe single pip

[/quote

so, it looks like a temp. double bottom...thanks for the explanation....it looks like 10dma and the 20dma on weekly are around 1.33-1.34...poss. resistance and/or target price for you then?

thanks again,

mm
From my point of view.. is my entry point (for next week ) an important level.. but if it hold then is 1,34 the first target that we can reach.
But as I say... for next week is area 1,28 very very important..

it is also clear that now everyone say that the trend is downward. but you make real money if you do exacly the opposite of the many professors who are on the web.

The best thing that can happen to you is to find out where you're wrong.
  • #58,668
  • Jan 23, 2009 3:11pm Jan 23, 2009 3:11pm
Quoting ak4x
driver and mm, be sure to check your pm's.. not sure if you have the pop up thingy enabled to notify you.
Thank you ak4k for your messages.. I appreciate.
The best thing that can happen to you is to find out where you're wrong.
  • #58,669
  • Jan 23, 2009 3:14pm Jan 23, 2009 3:14pm

Well guys ..
I wish you a nice weekend

The best thing that can happen to you is to find out where you're wrong.
  • #58,670
  • Jan 23, 2009 3:16pm Jan 23, 2009 3:16pm
[quote=Driver55;2490708]
Quoting Mackeymax
From my point of view.. is my entry point (for next week ) an important level.. but if it hold then is 1,34 the first target that we can reach.
But as I say... for next week is area 1,28 very very important..

it is also clear that now everyone say that the trend is downward. but you make real money if you do exacly the opposite of the many professors who are on the web.

well said...I always use the masses as a contrarian indicator too...if you live in Italy enjoy what's left of your night and a great weekend....

mm
He who hesitates is hesitant....which always leads to bad entries.
  • #58,671
  • Edited 3:22pm Jan 23, 2009 3:20pm | Edited 3:22pm
finally ?
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  • #58,672
  • Edited 3:33pm Jan 23, 2009 3:22pm | Edited 3:33pm
Quoting SpecialEd
Could also be bearish - lower highs, lower lows, right?
You are right we are making lower lows on the daily but
even that will stop sometime.
I usually look at the current candle. The pinbar means there
is smart money buying into the Bear Rally. They have the money and
create the trend by the sheer amount of money. Seriously no one
here can move the markets not even a pip. The big boys make the trend.
Now the pinbar should be valid for the next 3-4 candles.
It's a very strong one the nose is 220 pips long while the top is only 40 pips.

Quote
Many analysts believe the U.S. economy won't recover until the housing sector rebounds, but data to be released Monday is expected only to confirm that such a rebound is nowhere in sigh

Fundamentals come out in the charts first. I think today is a good example for that.
  • #58,673
  • Jan 23, 2009 3:33pm Jan 23, 2009 3:33pm
Like your chart. Do you read as bearish? Why? Thanks
  • #58,674
  • Jan 23, 2009 3:33pm Jan 23, 2009 3:33pm
In the meantime commodities are being jacked up. That also put the dollars on pressure.They must correct.

http://bloomberg.com/apps/news?pid=2...er=commodities
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #58,675
  • Jan 23, 2009 3:34pm Jan 23, 2009 3:34pm
Quoting arthurb
finally ?
What paremeters are you using on the CCI?
Going to make it big by age 21.
  • #58,676
  • Jan 23, 2009 3:37pm Jan 23, 2009 3:37pm
Im very new to this ...Only been trading live a couple of months but was wondering what you guys think of my ideas? If I'm wrong please tell me what you think and don't bash me. In this forex world my main goal is to learn and not feed off others calls...

Short term we retrace up to 3400
Long term after retrace we see 2500?
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Going to make it big by age 21.
  • #58,677
  • Jan 23, 2009 3:58pm Jan 23, 2009 3:58pm
Quoting d-e-f
Before everyone leaves, can some tell me the name of a broker that won't hunt down and end my MT4 demo acct on the exact expire day? One of the main brokers closed my demo on the exact expire day and I'm kind of lost without it? Preferably one that stays open until 5 pm CST. Thanks!
I've had the same Alpari demo account open since August. I like them and recommend it to my friends and coworkers that want to try Forex.
  • #58,678
  • Jan 23, 2009 3:58pm Jan 23, 2009 3:58pm
Quoting dstryr
What paremeters are you using on the CCI?
i dont trade based on indicators but on price action
indicators are for confirmation only
and i dont see any reason whatsoever to use other than default settings
big guys (COT non-commercials) use default too

and i dont pray when i trade
  • #58,679
  • Jan 23, 2009 3:59pm Jan 23, 2009 3:59pm
Quoting arthurb
i dont trade based on indicators but on price action
indicators are for confirmation only
and i dont see any reason whatsoever to use other than default settings
big guys (COT non-commercials) use default too
was just asking because my numbers werent the same as yours when i added the CCI
Going to make it big by age 21.
  • #58,680
  • Jan 23, 2009 3:59pm Jan 23, 2009 3:59pm
Next week, playing the market short, just until major level 1.2650 has been reached.
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