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  • #67,101
  • Feb 20, 2009 5:35am Feb 20, 2009 5:35am
Thanks aj and nuckingfuts for prompt reply
  • #67,102
  • Feb 20, 2009 5:40am Feb 20, 2009 5:40am
Hey, there you go. Someone who looks at the hourly chart can tell ya.
  • #67,103
  • Feb 20, 2009 5:41am Feb 20, 2009 5:41am
Quoting NuckingFuts
The fall from yesterday is still at this stage a retrace of the stronger move up before it. As for the 1.2625, it has no meaning to me.

With the gap, it is certainly not a rule to follow if you scalp. Longer term traders do however take note and are weary trading against it. Gaps generally fill pretty quickly on this pair, this week as an exception. If I were waiting to go short, I'd be waiting for the gap to fill first. My trades last from a few days to months, so it affects me more than most others here.
there was a guy earlier who said in all his 6 years of eur/usd trading, the gap always fill within a week !
  • #67,104
  • Feb 20, 2009 5:41am Feb 20, 2009 5:41am
Quoting psiholog
this question i can answer simply by looking at pa for this week. the range for this week has mostly been between 1.2625 and 1.2565. consider moves out of this range (the brief break below 1.2565 and yesterdays break up) as simply false breakouts as in both cases the breakout wall did not become the new strong resistance or support. so the idea is if 1.2625/30 area gets broken hard again, this brings the high of the previous false break up as the potential target of this range (roughly 1.2760) with minor resistances in the way between 1.2655 and...
thanks psiholog,quite clear now
  • #67,105
  • Feb 20, 2009 5:44am Feb 20, 2009 5:44am
Quoting psiholog
this question i can answer simply by looking at pa for this week. the range for this week has mostly been between 1.2625 and 1.2565. consider moves out of this range (the brief break below 1.2565 and yesterdays break up) as simply false breakouts as in both cases the breakout wall did not become the new strong resistance or support. so the idea is if 1.2625/30 area gets broken hard again, this brings the high of the previous false break up as the potential target of this range (roughly 1.2760) with minor resistances in the way...
Figured out who Steve Nison is yet?

Here's a clue, your chart wouldn't look that way if it weren't for him
  • #67,106
  • Feb 20, 2009 5:50am Feb 20, 2009 5:50am
Quoting NuckingFuts
Figured out who Steve Nison is yet?

Here's a clue, your chart wouldn't look that way if it weren't for him
honestly i dont care who he is. i am self taught. i opened the charts on day 1 and learned how to interpret what i see on my own. who created what i see how i see it is of no significance to me. if i play a game, do i care who the programmer for the game was? No, all i care about is learning the game based on what i am provided. same concept here. Btw, I hate you , your as arrogant as i am haha, bulls butting heads.

sidenote: i am completely flat now...i lost all interest in any longs at the moment as this could be flag in the making here...my gut instinct says, dont get greedy as we could go either way here, another entry is right around the corner

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Different opinions highly valued, ignorant to slander.
  • #67,107
  • Feb 20, 2009 5:55am Feb 20, 2009 5:55am
Quoting psiholog
honestly i dont care who he is. i am self taught. i opened the charts on day 1 and learned how to interpret what i see on my own. who created what i see how i see it is of no significance to me. if i play a game, do i care who the programmer for the game was? No, all i care about is learning the game based on what i am provided. same concept here. Btw, I hate you , your as arrogant as i am haha, bulls butting heads.

psiholog.. long time no see.. how r u... time flies ya
  • #67,108
  • Feb 20, 2009 5:56am Feb 20, 2009 5:56am
The good news is tata to 12560. Apply strict stalling entry with initial SL @12550. The bad news is that price is only shaping up for a ascending range of only up to 12712-50 level for this week. GL to us all.....
  • #67,109
  • Feb 20, 2009 5:58am Feb 20, 2009 5:58am
There are times when I can be quite a smarta$$ so read this with that in mind ok?

There was a big discussion either yesterday or the day before on this opening gap. It turned into a heated debate between some and if it fills ok...if it doesn't ok. Some do - some don't. Some fill in 24 - 48 hours, some take weeks. The AVERAGE time is 19 days.

The real question on everyone's mind right now is - where is PA going and what do you have to support your conclusion. If your supporting theory is gap filling - I will buy that. If your support is indicators or trend lines - I'll buy that.

I guess what I am trying to say is - I support the LONG conclusion and I'll buy that.
  • #67,110
  • Feb 20, 2009 5:58am Feb 20, 2009 5:58am
Quoting trading801
psiholog.. long time no see.. how r u... time flies ya
im good man. editing out the errors in my trading..slowly haha. no more "i dont use stop loss" after december...50pip stop loss always. a few other things as well...ill be a millionaire by 30 im sure of it. how about you?..still hanging in there?.....havent heard from you since...november or december...we joined the site at the same time yet you dissapeared.
Different opinions highly valued, ignorant to slander.
  • #67,111
  • Feb 20, 2009 6:02am Feb 20, 2009 6:02am
Ahhh, Yes, The recipe for a great Friday,
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #67,112
  • Feb 20, 2009 6:02am Feb 20, 2009 6:02am
i was around ... just that i never post much ! i miss the other folks.. cobra etc hahahaahaha remember how i used to pray to the god of pips LOL and my boat hahahah we had a blast then .. good community
  • #67,113
  • Feb 20, 2009 6:04am Feb 20, 2009 6:04am
Quoting psiholog
honestly i dont care who he is. i am self taught. i opened the charts on day 1 and learned how to interpret what i see on my own. who created what i see how i see it is of no significance to me. if i play a game, do i care who the programmer for the game was? No, all i care about is learning the game based on what i am provided. same concept here. Btw, I hate you , your as arrogant as i am haha, bulls butting heads.

sidenote: i am completely flat now...i lost all interest in any longs at the moment as this could be flag in the making here...my...


Ignorance is bliss hey
  • #67,114
  • Feb 20, 2009 6:07am Feb 20, 2009 6:07am
Quoting trading801
i was around ... just that i never post much ! i miss the other folks.. cobra etc hahahaahaha remember how i used to pray to the god of pips LOL and my boat hahahah we had a blast then .. good community
yep...good good times. cobra ditched us for his THV thread. hes making many people rich now with the trading system he posted haha. doblece over there now too and a few others. you might want to check it out...from what i read that strategy is quite successful. as for me, lurking, posted my thread with my methods but have decided for the time being to keep posts here as the way i do things while simple for me..complex for most haha. btw..i still pray to the god of pips sometimes haha
Different opinions highly valued, ignorant to slander.
  • #67,115
  • Feb 20, 2009 6:12am Feb 20, 2009 6:12am
Quoting NuckingFuts


Ignorance is bliss hey
if you want to put it that way..up to you

the way i put it is psychology 101

most people go to school..read books...listen to professors...take tests and quizzes and do alot of homework. learning forex and the stock market is very much the same way, the only difference is the homework is called demo trading.

here comes psiholog (which means psychologist)...hates school...doesnt read books...cant pay attention to proffesors...fails mosts tests and quizzes and never does his homework and is currently a forex trader in the making who is a college dropout. Does all this mean that I am stupid or ignorant? No it means reinventing the wheel is the only way I learn. Experience only is what teaches me, and the countless mistakes that come with it at first.

I hope this post makes others think about how they view themselves, the way you learn, the way you approach any situation or even trade, there is no right or wrong way, there is only the way that works best for you.
Different opinions highly valued, ignorant to slander.
  • #67,116
  • Feb 20, 2009 6:22am Feb 20, 2009 6:22am
went for dinner came back and it was 1.2647...3 pip from my T/P...

close it any way.
Trade what you see. Write what you feel
  • #67,117
  • Feb 20, 2009 6:31am Feb 20, 2009 6:31am
@ psiholog

I'm reading your post and feel really comfortable with your style....

hope I'll learn more...now i'm reading your topic about your trading style
  • #67,118
  • Feb 20, 2009 6:32am Feb 20, 2009 6:32am
- In currencies, regional risk aversion renewed European and Commodity majors', boosting the greenback across the board. EUR/USD fell as low as 1.2580, USD/CHF tested 1.18, and GBP/USD nearly reached 1.42. USD/CAD breached the upside of 1.26, AUD/USD declined to within 30 pips of 2-week lows at 0.6330, while NZD/USD was at lows not seen since Feb 3rd. Japanese Yen remained weak against the USD rally above 94.00, and EUR/JPY and GBP/JPY crosses were weaker on relative European majors slump. Emerging Asian currencies were also sharply sold - USD/KRW traded near November highs, while USD/SGD reached 1.5380 - levels not seen since Aug. of 2007.

http://www.fxstreet.com/fundamental/...009-02-20.html
Probability Professor
  • #67,119
  • Feb 20, 2009 6:37am Feb 20, 2009 6:37am
I went short at 1.2604 (09:15 GMT). At present I am still OK by my analysis, but if it goes much above 1.2642 I would consider the trade a non runner.

Good Trading.
Good Trading. (keep it simple).
  • #67,120
  • Feb 20, 2009 6:43am Feb 20, 2009 6:43am
Quoting psiholog
i am completely flat now...i lost all interest in any longs at the moment as this could be flag in the making here...my gut instinct says, dont get greedy as we could go either way here, another entry is right around the corner

Attachment
seems i made the right call here. we may see a retest of the 1.2565 level now..in any case...no clear entries for me until the us stock market opens...i am very curious as to what the S&P will do especially as its below 800...secondly the Dow with its critical low levels. options expiration friday..that is also key. i wouldnt be surprised if we see a 500points up day in the dow..haha.
Different opinions highly valued, ignorant to slander.
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