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  • #66,281
  • Feb 18, 2009 9:13am Feb 18, 2009 9:13am
Quoting Terminale
1.2475 is a monthly strong support. We could see a retrace from there.
a big retrace?
Liz
  • #66,282
  • Feb 18, 2009 9:13am Feb 18, 2009 9:13am
Quoting nvcK
taken
Why did you take long, on what did based that trade..thanks for answering..
  • #66,283
  • Feb 18, 2009 9:15am Feb 18, 2009 9:15am
closed this position at +40pips...too many things can happen here and id rather be flat. i think its worth noting that my long term bias is short with new lows in sight as "boredtolose" and many others think as well. short term...we may push up towards the 1.2800 area again with each leg up or down in need of close attention as this market has rapid moves followed by long periods of consolidation. In the very short term....at this moment i have no bias at least until FOMC minutes are released
Different opinions highly valued, ignorant to slander.
  • #66,284
  • Feb 18, 2009 9:15am Feb 18, 2009 9:15am
Quoting psiholog
i fully agree with this "guess" which is why i chose to keep this small long position. However FOMC minutes and Bernankes talk are 2 hours away which is why im not a full position long as things can go either way.

as far as the current scenario goes, the downwards channel has been broken....1.2535 did not become resistance. Next target is 1.2565 which was the lower level of the previous range. From that point i see 3 potential scenarios (in no particular order as pa will determine)

1)W's and M's are common these days. A bounce off 1.2565 could...
Yes, we got a nice "surprise" POP......
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  • #66,285
  • Feb 18, 2009 9:17am Feb 18, 2009 9:17am
Quoting scorpionFX
Why did you take long, on what did based that trade..thanks for answering..
I experiment with THV, so far having decent time scalping around the (M)S/(M)R on 1 min chart. Basically just watching the Coral and Ichi and basing my opinion on those. I really like how it draws the candles differently, seems to take a whole lot of chaos out of the PA. Great job u THV team guys on this thread.
  • #66,286
  • Feb 18, 2009 9:17am Feb 18, 2009 9:17am
Quoting Lizeth_doll
Im hanging there but not for longer this is eating my account totally, i need i big push-up unless to get some money back, how far you think is this going down?
If you are still in, a close of the next 15min bar above 1.2562 would indicate a possible long, ( just done that) beware of it retracing and closing below 1.2536, then the short would be confirmed. (IMHO).

Good Trading.
Good Trading. (keep it simple).
  • #66,287
  • Feb 18, 2009 9:23am Feb 18, 2009 9:23am
I like your work, but you work with M5 TF.
I never was trader for that!!!

For now 1.2577 must hold, if not we may see some nasty up move there or simple a false break of 15/25 pips.

The Last up move to 1.2620 broke my symmetric channel by 15 pips, was a false move and caught me, because I closed some shorts at BE and few pips gain.

I set then a Break line at 1.2577, let's see if will hold!!

Greetings!!
  • #66,288
  • Feb 18, 2009 9:24am Feb 18, 2009 9:24am
Quoting traderathome
Yes, we got a nice "surprise" POP......
traderathome what fib indicator r u using?? care to share it??
  • #66,289
  • Feb 18, 2009 9:26am Feb 18, 2009 9:26am
Quoting BoredToLoose
I like your work, but you work with M5 TF.
I never was trader for that!!!
honestly i dont like the 5minute timeframe too much either. these days i prefer the 15min and 1hour the most. I am as i like to call myself a "momentum trader" and at this point in time only the 5minute timeframe provides a good indication of market behavior..at least to me.


on another note...careful longs and shorts...obama is talking right now..not sure about what
Different opinions highly valued, ignorant to slander.
  • #66,290
  • Feb 18, 2009 9:27am Feb 18, 2009 9:27am
Quoting Lizeth_doll
a big retrace?
I think 500 or 600 pips up
  • #66,291
  • Feb 18, 2009 9:28am Feb 18, 2009 9:28am
obama speech happening now.
those who can, do. those who cant, talk about those who can
  • #66,292
  • Feb 18, 2009 9:32am Feb 18, 2009 9:32am
Quoting JoeTraderFx
traderathome what fib indicator r u using?? care to share it??
It is the MT4 Fibonacci Extension tool.....similar to the Fib Retracement tool. It comes with most basic values already set. I only added a few extra and fixed it so the prices show also. I apply the tool to the span across the pinch in the inner Bollinger band for target exits short term over a short range. In a strong move off a really well defined pinch of the outer std BB on a larger TF chart, I will apply across that pinch.....gets targets for a larger range of movement.
  • #66,293
  • Feb 18, 2009 9:43am Feb 18, 2009 9:43am
it's still hovering around the previous resistance level trend line. we could see a bounce all the way back up to the 1.28 area but i'm keeping my shorts for now.
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  • #66,294
  • Feb 18, 2009 9:44am Feb 18, 2009 9:44am
Quoting Lizeth_doll
a big retrace?
you are an idiot Elghoz guys this is Him for sure as He used same dialog
is this you sister photo she's HOT hahahahahaha
  • #66,295
  • Feb 18, 2009 9:51am Feb 18, 2009 9:51am
Quoting traderathome
It is the MT4 Fibonacci Extension tool.....similar to the Fib Retracement tool. It comes with most basic values already set. I only added a few extra and fixed it so the prices show also.
I also made some changes to my fib tool as well. I changed it so that it could show the percentage of a pullback. How can I edit it so that it shows the price??
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  • #66,296
  • Feb 18, 2009 9:57am Feb 18, 2009 9:57am
missed my friggen entry by 6 pips...
those who can, do. those who cant, talk about those who can
  • #66,297
  • Feb 18, 2009 9:58am Feb 18, 2009 9:58am
In an earlier post I mentioned in the short term (next few days or weeks) i see a return to the 1.2800 level, possibly a bit higher. This is because of the breakout and retest (that happens most of the time) which occured this week. Up until sunday, we were consolidating in a triangle at the low of the large move down started at 1.47 (could even be called a bear flag). This triangle falsely broke down last thursday (the extension of the lower wall identified by the blue line). Sunday we gapped down and what was the lower wall originally (the lower black trendline) acted as resistance which was followed by the continuation down to current levels. Note that in the process a downtrend channel has developed indentified by the red trendlines. I think it is very possible that once this downtrend is broken we will see a return to the original wall of the triangle, or at the least the extension (blue trendline). Hope this all made sense

Here is a chart with just the triangle and downtrend channel

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Here is a second chart with all levels that have acted as support or resistance previously

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sidenote: lizeth_doll i hope you read this post as its intended for you mostly and learn in the future that stop loss is a must. i suggest you read up on some good money management methods...
Different opinions highly valued, ignorant to slander.
  • #66,298
  • Feb 18, 2009 9:58am Feb 18, 2009 9:58am
Quoting jgoff
it's still hovering around the previous resistance level trend line. we could see a bounce all the way back up to the 1.28 area but i'm keeping my shorts for now.
looks like a big W to me..
those who can, do. those who cant, talk about those who can
  • #66,299
  • Feb 18, 2009 10:00am Feb 18, 2009 10:00am
Quoting denicanfx
you are an idiot Elghoz guys this is Him for sure as He used same dialog
is this you sister photo she's HOT hahahahahaha
why you are saying that, im in a very bad position i dont even speak english correctly is very dificult to me explain and read what are you trying to say , i just want some help, here in my country no body knows about forex is just a few people working on that here, that bis why i come to this forums , i dont know who you think im, but you are been mind, im Lizeth from colombia 24 years old, i start my real account in january, that is me, thanks to who really want to help me, i forget that sometimes you can find assholes in the way.
Liz
  • #66,300
  • Feb 18, 2009 10:05am Feb 18, 2009 10:05am
goldmen execs getting personal margin calls.. the beginning of the end.. we are talking about goldmen!!! remember 1929 margin calls... follow the money..hang the sob's
those who can, do. those who cant, talk about those who can
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