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  • #64,241
  • Feb 11, 2009 8:28pm Feb 11, 2009 8:28pm
Quoting Chicky
I am not very good at may things, selecting Avatar is one. A minor reason for selecting this Avatar is to always have my trading philosophy available, however, the major is a PM that I received today ...... that message was really private and ......I see it effectively conveys the message.

On TP/SL, I was trying to return (or re-invest in others) the favors I received from gurus when I used to ask this kind of questions.
Hey I'm not knocking it. I quite like your avatar actually.

And there's nothing wrong with the TP/SL thing. You did good. Being reminded of basics never hurt anyone.
Not all sins are created equal
  • #64,242
  • Feb 11, 2009 8:32pm Feb 11, 2009 8:32pm
Quoting Jay Walker
Hey I'm not knocking it. I quite like your avatar actually.

And there's nothing wrong with the TP/SL thing. You did good. Being reminded of basics never hurt anyone.
I know Jay! Your words were taken in their spirit. Thanks.
The Thief of Wall Street
  • #64,243
  • Feb 11, 2009 8:34pm Feb 11, 2009 8:34pm
Quoting Jay Walker
Avatar & handle can be weird sometimes.

"Do not enter Chicky?" I would never dare

Good advice on setting up the SL/TP...Bed sounds good.
*LMAO*
those who can, do. those who cant, talk about those who can
  • #64,244
  • Feb 11, 2009 8:46pm Feb 11, 2009 8:46pm
Quoting Chicky
Probably upstairs ........ to bed! No one on this earth can answer your this question. However a little advise......This game is all about waiting for (not "an", but) "a right" opportunity to arise. Do not enter unless you see one. If already in, set realistic Stop Loss / Take Profit and go to bed.
Well Stated
  • #64,245
  • Feb 11, 2009 8:48pm Feb 11, 2009 8:48pm
does this one make me look fat?
those who can, do. those who cant, talk about those who can
  • #64,246
  • Feb 11, 2009 8:49pm Feb 11, 2009 8:49pm
I see a nice flag formation..getting squashed downward..some testing is going to happen..and I bet dimes to dollars..its down bellow..
Attached Image
  • #64,247
  • Feb 11, 2009 8:53pm Feb 11, 2009 8:53pm
Quoting gatorinla
does this one make me look fat?
What? ......... The font size is so small one can barely read these good words. You may like to try one more time.
The Thief of Wall Street
  • #64,248
  • Feb 11, 2009 8:56pm Feb 11, 2009 8:56pm
its in brail silly...
those who can, do. those who cant, talk about those who can
  • #64,249
  • Feb 11, 2009 8:58pm Feb 11, 2009 8:58pm
Quoting gatorinla
its in brail silly...
That will be good for both ....... The "Buyer" and the "Seller". Why to care about appearance then?
The Thief of Wall Street
  • #64,250
  • Feb 11, 2009 9:07pm Feb 11, 2009 9:07pm
ill think about it
those who can, do. those who cant, talk about those who can
  • #64,251
  • Feb 11, 2009 9:29pm Feb 11, 2009 9:29pm
The Eur/Usd which rose to near the 1.3000 handle gave a fillip to the CHF as well. The [USD/CHF] fell to the day's low of 1.1512 before the Eur/Usd reversed direction in NY trade as the Greenback gained on safe haven demand sending the pair to an o/n high of 1.1633 before opening in Asia around the 1.1600 handle. With consumer confidence at recent lows and not expected to improve any time soon as the global recession deepens, the release of the Swiss Jan SECO consumer climate f/c at -36 from -27 will weigh on the CHF this session. Buying orders at 1.1540 by a US Prime will provide support and selling orders at 1.1650 by a European name will keep the range this session.

The [GBP/USD] which hit an intraday low around the 1.4410 level during Asian trade recovered strongly to a high of 1.4568 on the back of better than expected jobs data showing the number of people claiming UK jobless benefits rose by a less than expected 73.8K in Jan although the claimant count rate rose to 3.8% from 3.6% in Dec, a level not seen since Feb 2000. However, BOE Governor King who said that the risks are still 'significantly on the downside" & that length and depth of the recession will depend on the global economy plus the central bank saying it was ready to ease monetary policy further knocked the pair off its perch to an o/n low of 1.4315 before opening this morning at 1.4400. Buying orders at 1.4330 by a UK Clearer will protect the downside and selling orders at 1.4450 by a French name will cap the upside this session.

[OIL] March crude has recovered back up above $36/brl; but only just, with limited incentive to press prices much higher. Underlying weakness is still apparent in the pit after the contract tumbled by 4.3% or $1.61 in the NYMEX session to end at a three week low of $35.84 following the IEA's bearish prediction that global energy demand would post its biggest decline this year since 1982. Weekly inventory data from the US was also gloomy after showing a bigger than expected jump in crude supplies. Tech charts remain overwhelmingly bearish; and eye deeper record losses towards initial key support at $34.98. Upside attempts seen limited to $38.47.
those who can, do. those who cant, talk about those who can
  • #64,252
  • Feb 11, 2009 9:31pm Feb 11, 2009 9:31pm
The two spikes around 1.3100 on daily chart are bothering me. Can these be considered a double top or dogi (pin bar)? They quickly retraced just after kissing top wall of downward channel on daily chart.

The Pa is mvoing sideways and it appears there is strong support between 1.28 and 1.27.

I am thinking about going long if pa breaks 1.300 level by London session.

Any different views?
The Thief of Wall Street
  • #64,253
  • Feb 11, 2009 9:45pm Feb 11, 2009 9:45pm
Price getting ready for a huge breakout in either direction. Once the breakout occurs the market will probably move in a fast sharp speed hitting all sorts of stops before the true break is identified. So be sure to play it safe now as the pair consolidates.
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  • #64,254
  • Feb 11, 2009 9:50pm Feb 11, 2009 9:50pm
Quoting Chicky
The two spikes around 1.3100 on daily chart are bothering me. Can these be considered a double top or dogi (pin bar)? They quickly retraced just after kissing top wall of downward channel on daily chart.

The Pa is mvoing sideways and it appears there is strong support between 1.28 and 1.27.

I am thinking about going long if pa breaks 1.300 level by London session.

Any different views?
I agree. Looks like the bulls where about to run out of their cage but didn't manage to do enough damage...just yet.

I think it's a matter of when, not if.
Not all sins are created equal
  • #64,255
  • Feb 11, 2009 9:55pm Feb 11, 2009 9:55pm
Quoting Chicky
The two spikes around 1.3100 on daily chart are bothering me. Can these be considered a double top or dogi (pin bar)? They quickly retraced just after kissing top wall of downward channel on daily chart.

The Pa is mvoing sideways and it appears there is strong support between 1.28 and 1.27.

I am thinking about going long if pa breaks 1.300 level by London session.

Any different views?
Are you trading long term or scalping 20-30 pips? Are you willing to place your stop below 1.20? 1.3 is a good entry, but first how were you going to get out? Just things I look at.
  • #64,256
  • Feb 11, 2009 9:57pm Feb 11, 2009 9:57pm
Quoting Jay Walker
I agree. Looks like the bulls where about to run out of their cage but didn't manage to do enough damage...just yet.

I think it's a matter of when, not if.
Buyers..want to buy at the price as low as possible....

I have yet to see lower low...in 15M TF...

Sonic
  • #64,257
  • Feb 11, 2009 10:06pm Feb 11, 2009 10:06pm
Quoting Chicky
The two spikes around 1.3100 on daily chart are bothering me. Can these be considered a double top or dogi (pin bar)? They quickly retraced just after kissing top wall of downward channel on daily chart.

The Pa is mvoing sideways and it appears there is strong support between 1.28 and 1.27.

I am thinking about going long if pa breaks 1.300 level by London session.

Any different views?
what bothers me is on the monthly a final W leg is building up (line chart not candle) on the weekly higher lows ... and the daily... take a look at the longer time frames using just lines...you will be surprised.. month wk,daily 8h 4h
those who can, do. those who cant, talk about those who can
  • #64,258
  • Feb 11, 2009 10:14pm Feb 11, 2009 10:14pm
Get a seat by the window, this could be good!

  • #64,259
  • Feb 11, 2009 10:17pm Feb 11, 2009 10:17pm
I have shorted this pair @1.2912

S/L @ 1.2944 & T/P @ 1.2862


Let's see how this goes.
  • #64,260
  • Feb 11, 2009 10:18pm Feb 11, 2009 10:18pm
aanyone short
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