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  • #7,861
  • Jan 29, 2009 10:45am Jan 29, 2009 10:45am
Quoting PaulEamonn
Hi Orcus

I guess we'll soon see what's going to happen!! Since I've found this stuff and this thread I love watching what happens when the market reaches these levels.
Time to give up your elliot waves.
  • #7,862
  • Jan 29, 2009 10:54am Jan 29, 2009 10:54am
Quoting RedCabbage
Time to give up your elliot waves.
LOL! I wish I could. As I think I mentioned in an earlier post, they can be a bit of a curse. When you're studying them you struggle to see them - now I can't help but see them!

Still, maybe one day I'll reduce it down to seeing them but not being influenced by them.
RegardsPaul Eamonn
  • #7,863
  • Jan 29, 2009 11:11am Jan 29, 2009 11:11am
not real sure how strong support is at 1.2960 level, but there is some support there.--risk is probably a drop all the way down to 1.2905/00--edit as I type this , price has broken thru 1 2960
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  • #7,864
  • Jan 29, 2009 11:22am Jan 29, 2009 11:22am
You guys think 1.2900 will hold?
  • #7,865
  • Jan 29, 2009 11:32am Jan 29, 2009 11:32am
In a situation like this where Price has broken through this level so fiercely if it retraces in the next hour to the previous reistance. How strong a level would it be?

and this is a trade that I have been watching develop could this qualify as a no brainer
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  • #7,866
  • Jan 29, 2009 11:35am Jan 29, 2009 11:35am
The level just below the trendline (0.9019 ish) looks to be a nice level for a long. Read somewhere in this thread that sometimes Price will reach through the trendline to touch a close resistance or support line to before reversing.
  • #7,867
  • Jan 29, 2009 11:51am Jan 29, 2009 11:51am
Quoting islandpippin
In a situation like this where Price has broken through this level so fiercely if it retraces in the next hour to the previous reistance. How strong a level would it be?

and this is a trade that I have been watching develop could this qualify as a no brainer
Looks solid to me
  • #7,868
  • Jan 29, 2009 6:14pm Jan 29, 2009 6:14pm
Quoting orcus
Siam (and others), how do you decide when price has stalled and it may be time to get out of a trade? What timeframe would you watch? Most of my winning trades, when I watch them, spend what feels like a long time hanging around before dropping, often retrace quite a bit, sometimes almost all the way back to entry after having moved 40+ pips away, before then going on to +100 or +200 or whatever.

I know there was the Iron-Man method of watching shorter timeframe charts for when S becomes R, etc, but honestly that happens constantly as far as I...

Hi sorry it took a while to get back to ya,

It sounds like you might be chart watching a bit too much. It's mezmorizing at times I know but if you have your stops and limits in at the right places i would try concentrating on something else. This used to be something I'd do too much of. My Euro trade yesterday for instance that thing bounced up and down all through the day but I walked away from it and when i woke up this morning bingo there it is.

For me looking at anything less than the 4hr chart is just noise and there are people who can and do trade well off them it just doesn't fit my personality. I also tend to overtrade or get out for the wrong reasons on the smaller time frames.

The stress of it makes me push my mind into a place that it doesn't want to go, I just enjoy trading a lot more now that I can forget about it, if that makes any sense.
  • #7,869
  • Jan 29, 2009 8:23pm Jan 29, 2009 8:23pm
Watching this level (1.3027 EURUSD) to go short and 0.6420 AUDUSD
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  • #7,870
  • Jan 29, 2009 8:32pm Jan 29, 2009 8:32pm
Thanks for the reply, Siam. I actually don't have a problem keeping myself from the charts if I think that's the best plan, I guess I was going by BRV's and others talk about getting out of trades when they start stalling, thereby getting out with a profit or small loss rather than watching it go all to the way to the stop.
  • #7,871
  • Jan 29, 2009 11:45pm Jan 29, 2009 11:45pm
Whats up guys
  • #7,872
  • Jan 29, 2009 11:47pm Jan 29, 2009 11:47pm
Quoting Shermenator
Whats up guys
Hey man, how are things?
  • #7,873
  • Jan 29, 2009 11:52pm Jan 29, 2009 11:52pm
Quoting misterboy
Hey man, how are things?
Great bro just got home from the gym...looking to make another easy pips tonight how about yourself
  • #7,874
  • Jan 29, 2009 11:59pm Jan 29, 2009 11:59pm
Quoting Shermenator
Great bro just got home from the gym...looking to make another easy pips tonight how about yourself
Good to hear

Im doing pretty well too
  • #7,875
  • Jan 30, 2009 12:08am Jan 30, 2009 12:08am
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Hi, Im waiting for a break and close below the 126.50 area on the hourly gbpjpy chart for a short, hopefully targeting 125.50, i would appreciate any thoughts.
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Ronin77
  • #7,876
  • Jan 30, 2009 12:38am Jan 30, 2009 12:38am
Pay attention to the usdcad for shorts....shorts are scalps longs are holds...look fro price action in rectangle

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  • #7,877
  • Jan 30, 2009 1:22am Jan 30, 2009 1:22am
I've been quiet all week but tonight I saw this one setting up and I placed my pending orders...I went to the kitchen and came back and it was all over with +16 in the bank.

I have been offline this week with a combination of poor sleep habits and also doing more researching. I suggest watching the Sam Seiden videos that were recently mentioned here. That's where I got this setup...and many future ones hopefully. It's not about finding a chart pattern or system, it's about how the money flow really does work and it makes you suddenly take a setup like this one with extreme comfort - not because you're trusting some system that seems to make sense but because you feel like you finally know what's going on in the real world and why this setup exists, what can come from it, etc.

Welcome...to the real world.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #7,878
  • Jan 30, 2009 1:36am Jan 30, 2009 1:36am
Quoting Thexder
I've been quiet all week but tonight I saw this one setting up and I placed my pending orders...I went to the kitchen and came back and it was all over with +16 in the bank.

I have been offline this week with a combination of poor sleep habits and also doing more researching. I suggest watching the Sam Seiden videos that were recently mentioned here. That's where I got this setup...and many future ones hopefully. It's not about finding a chart pattern or system, it's about how the money flow really does work and it makes you suddenly take a setup...

Welcome indeed! Did someone turn the light on?
  • #7,879
  • Jan 30, 2009 1:41am Jan 30, 2009 1:41am
Looking for a breakout of the 50% fib on USDJPY.
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  • #7,880
  • Jan 30, 2009 1:47am Jan 30, 2009 1:47am
Quoting RedCabbage
Did someone turn the light on?
Just in time for the weekend - now I can justify buying a big case of beer with my 16 bucks....
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
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