Compare both patterns that I have circled, remembering the fractal nature of all waves. For me, it's exactly the same, though smaller.
To ponder...
but I know how busy you are 
.
- #141
- Feb 4, 2009 6:58pm Feb 4, 2009 6:58pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
but I know how busy you are .
- #142
- Feb 4, 2009 7:25pm Feb 4, 2009 7:25pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #143
- Feb 4, 2009 10:06pm Feb 4, 2009 10:06pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
hey guys, havent posted much, didnt want to trade most of today as i made big profit from the drop at 1.3065 and wanted to protect my gains. I wont trade much of tonight either because the rate decisions for europe and england are tonight (which is why the market is stuck in this very tight range). We may get a surprise rate cut by the ecb tonight when no cut is expected ...to be seen. From a technical point of view...the current range is really just between 1.2915 and 1.2815. I am not looking at any channels right now except the larger timeframe one started at 1.47 as the volatility before and after the ecb rate decision may be intense. Bias is still short so if we reach 1.2915 i may short there again. other then that...if we break 1.2815 hard to the downside...i will wait for a retest of that level to short myself (if it proves as strong resistance of course). Thats all there is to it...the fundies have control tonight...sometimes the best channels is just the horizontal resistance and support...good pipping all.
Different opinions highly valued, ignorant to slander.
- #144
- Feb 4, 2009 10:26pm Feb 4, 2009 10:26pm
- | Joined May 2008 | Status: Nudist | 1,098 Posts
Oi psiholog,
What gives?
Do we stink over in the EU thread?
Na, you just want to make me read yet another new thread.
Have added your thread to the list of to do's as long as my arm.
Hope you've made some nice pips over the Chrissy break.
I spent most of mine
What gives?
Do we stink over in the EU thread?
Na, you just want to make me read yet another new thread.
Have added your thread to the list of to do's as long as my arm.
Hope you've made some nice pips over the Chrissy break.
I spent most of mine
- #146
- Feb 5, 2009 9:45am Feb 5, 2009 9:45am
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
I not so good to determine the new relative to price movement. I do the trendline but still need some indicator which give me 90% confident.
I need your advice how sure that the price movement will follow the trendline, because i still lake of knowledge to determine the price movement.
right now i only trading at M5 only but very difficult to predict at especially high movement at london open and us open.
thanks
thank.
Different opinions highly valued, ignorant to slander.
- #149
- Feb 8, 2009 3:19pm Feb 8, 2009 3:19pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
things as they currently stand at sunday ibfx open
the upper wall of the downtrend channel started at 1.47 was expanded a bit more on friday. a breakout occured in the last few hours of the market but pa returned within the downtrend wall making that extension. currently ibfx gapped up as close to that wall as possible. logic says..the trend is your friend...the major trend since 1.47 is still down (and considering the time and day, theres no reason to break the trend yet) so therefore...a risky position 1/3rd regular size short is definetely worth it here. Also note the uptrend channel from friday and its current walls as it stands. Interesting pa and the spread makes it almost not worth playing but hey..im a risk taker, even if im wrong as long as i see a good opportunity. Have a good week pippin all.
the upper wall of the downtrend channel started at 1.47 was expanded a bit more on friday. a breakout occured in the last few hours of the market but pa returned within the downtrend wall making that extension. currently ibfx gapped up as close to that wall as possible. logic says..the trend is your friend...the major trend since 1.47 is still down (and considering the time and day, theres no reason to break the trend yet) so therefore...a risky position 1/3rd regular size short is definetely worth it here. Also note the uptrend channel from friday and its current walls as it stands. Interesting pa and the spread makes it almost not worth playing but hey..im a risk taker, even if im wrong as long as i see a good opportunity. Have a good week pippin all.
Different opinions highly valued, ignorant to slander.
- #150
- Feb 8, 2009 4:17pm Feb 8, 2009 4:17pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #152
- Feb 8, 2009 4:46pm Feb 8, 2009 4:46pm
- Joined Oct 2008 | Status: Let the market come to you | 2,670 Posts
- #153
- Feb 8, 2009 4:59pm Feb 8, 2009 4:59pm
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
- #155
- Feb 8, 2009 5:10pm Feb 8, 2009 5:10pm
- Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
examples...
with and without weekends... note the horizontal gap in weekends
as you can see.... one seems hitting a resistance while the other is looking as breaking it....
with and without weekends... note the horizontal gap in weekends
as you can see.... one seems hitting a resistance while the other is looking as breaking it....
- #157
- Feb 8, 2009 5:17pm Feb 8, 2009 5:17pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
examples...
with and without weekends... note the horizontal gap in weekends
as you can see.... one seems hitting a resistance while the other is looking as breaking it....
Different opinions highly valued, ignorant to slander.
examples...
with and without weekends... note the horizontal gap in weekends
as you can see.... one seems hitting a resistance while the other is looking as breaking it....
- #160
- Feb 8, 2009 5:45pm Feb 8, 2009 5:45pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
in a previous post i mentioned the pattern played most these past few months is the W or M reversals (double top or double bottoms). If one big bull candlestick is drawn to fill in the gap over the weekend....this double top scenario does seem to look like an M. For it to be confirmed, 1.2930 or so would be the neckline which has to be broken which would lead to a further decline around the 1.2870 level (equal distance from heads of M to neckline). On the other hand, if 1.2930 acts as strong support (now that the weekend gap has been filled)...we could see a violent push up above the 1.3000 level back to 1.3065 again...to be seen.
Sidenote:my tp on this particular trade is around the 1.2895 area...could close position at any time. My main reason for entry was a break of the 1.47 downtrend upper wall seemed absurd at this time, although an attempt was made on it with a few pips breakout.
Sidenote:my tp on this particular trade is around the 1.2895 area...could close position at any time. My main reason for entry was a break of the 1.47 downtrend upper wall seemed absurd at this time, although an attempt was made on it with a few pips breakout.
Different opinions highly valued, ignorant to slander.