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  • #69,181
  • Feb 25, 2009 1:16pm Feb 25, 2009 1:16pm
Quoting SunTrader
Better check your data source - Dow has no gap whatsoever.
My source is simply Yahoo finance. I could be reading some thing wrong but there seems to have been an opening Gap. We are close to closing the difference. After I posted the first message it did climb from -120's to -25's, EU following suit.

From what I understand the DJI normally covers the gap something like 80% of the time.

If i am reading something wrong, please let me know. Picture attached
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Makin my way, the only way I know how...
  • #69,182
  • Feb 25, 2009 1:18pm Feb 25, 2009 1:18pm
Quoting Bemac
Just curious;
Why a 200 SMA on a 1Hr Chart?
You're looking at an Average over the Last 8.3 Days.
Does the Last 8.3 Days of PA have relevence for you?

Just asking.
Bemac.

haha...i knew this was coming...
..and thats the best call i made today
  • #69,183
  • Feb 25, 2009 1:18pm Feb 25, 2009 1:18pm
Waited for the tier one news... which we all knew was going to suck but honestly... we don't give a shit what the news is we only care how the market reacts.

The market reacted quickly breaking through an .80 psych level.

Since we know that the market will move to S1 or R1 75% of the time we could project price would probably move to S1 at .2727. (It did)

Small trades in the direction of the trend.

Someone said scalping yesterday was easy... no such thing but we won't argure.

Either way... another 48 today and 237 since the opening bell this week.

Not looking to win PIP accumulator awards... simply looking to beat the market day in and day out.
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  • #69,184
  • Feb 25, 2009 1:25pm Feb 25, 2009 1:25pm
do you think it can break the 2720 or not?
You can't have everything... where would you put it?
  • #69,185
  • Feb 25, 2009 1:27pm Feb 25, 2009 1:27pm
Quoting acumen

Not looking to win PIP accumulator awards... simply looking to beat the market day in and day out.
amen to that. i was up 3000+ pips in november scalping the sh*t out of the eur/usd all day every day. Then november comes and i decide im ready to increase my pip size (small account)....i start doing that..my scalping backfired and what took me 3000+ pips in november to make was lost in 1/3rd the number of pips in december.

now...im much more mellow and relaxed and only pick best entries...scalp or not and 50-100pips per day on average is more then enough as i do end up beating the market every day...havent really had a losing week since...december. so yeah...i fully agree with your statement
Different opinions highly valued, ignorant to slander.
  • #69,186
  • Feb 25, 2009 1:28pm Feb 25, 2009 1:28pm
Quoting Bemac
Just curious;
Why a 200 SMA on a 1Hr Chart?
You're looking at an Average over the Last 8.3 Days.
Does the Last 8.3 Days of PA have relevence for you?

Just asking.
Bemac.
I use many indicators. 200SMA and 89SMA on M30 and H1 timeframe help me to see support or detect breakouts. Also I use them sometimes to set profit targets.
I'm learning every day.
And sorry for my english if its incorrect a little bit
  • #69,187
  • Feb 25, 2009 1:28pm Feb 25, 2009 1:28pm
Quoting Terminale
Look like the torreros killed all the bulls . The bull guy that posted the dead bear didnt understand the picture. The blood was the signal. BE a bear or collect Bloody pips .
im out at 25.. and reloaded..earlier is was using 2740 for entry then the 50's each time it goes up i place my entry a few pips before it.. and exit a few pips before bottom..25/30 area.. i dont risk the pips i have to get to the 20 if it stalls im out..
those who can, do. those who cant, talk about those who can
  • #69,188
  • Feb 25, 2009 1:29pm Feb 25, 2009 1:29pm
Quoting psiholog
amen to that. i was up 3000+ pips in november scalping the sh*t out of the eur/usd all day every day. Then november comes and i decide im ready to increase my pip size (small account)....i start doing that..my scalping backfired and what took me 3000+ pips in november to make was lost in 1/3rd the number of pips in december.

now...im much more mellow and relaxed and only pick best entries...scalp or not and 50-100pips per day on average is more then enough as i do end up beating the market every day...havent really had a losing week since...december....
I never win the war but I win a shit ton of battles and in this game that's all that counts.
  • #69,189
  • Feb 25, 2009 1:30pm Feb 25, 2009 1:30pm
Quoting Facti
do you think it can break the 2720 or not?

But not now.
  • #69,190
  • Feb 25, 2009 1:32pm Feb 25, 2009 1:32pm
Quoting Spsantos

Or as Rick Santelli from CNBC said " Is your 401k now a 201k"?
  • #69,191
  • Feb 25, 2009 1:32pm Feb 25, 2009 1:32pm
Quoting Bemac
Just curious;
Why a 200 SMA on a 1Hr Chart?
You're looking at an Average over the Last 8.3 Days.
Does the Last 8.3 Days of PA have relevence for you?

Just asking.
Bemac.
60 and 240 on 1M have a relevance to me
  • #69,192
  • Feb 25, 2009 1:34pm Feb 25, 2009 1:34pm
Quoting ott256
I use many indicators. 200SMA and 89SMA on M30 and H1 timeframe help me to see support or detect breakouts. Also I use them sometimes to set profit targets.
I'm learning every day.
And sorry for my english if its incorrect a little bit
Do what works for you. Don't listen to the know-it-all commentary.
  • #69,193
  • Feb 25, 2009 1:54pm Feb 25, 2009 1:54pm
I see a nice drop for 1H30!!

  • #69,194
  • Feb 25, 2009 1:57pm Feb 25, 2009 1:57pm
WHY?!!! like always i closed my short and 2720 just broke!
unbelievable
You can't have everything... where would you put it?
  • #69,195
  • Feb 25, 2009 2:02pm Feb 25, 2009 2:02pm
Quoting BoredToLoose
I see a nice drop for 1H30!!

Bored, how far do you think it will go? Should we go short now?
  • #69,196
  • Feb 25, 2009 2:04pm Feb 25, 2009 2:04pm
Quoting BoredToLoose
I see a nice drop for 1H30!!

Funny how it broke .27200 AFTER S&P recovered. I call stophunting and reversal ;P
  • #69,197
  • Feb 25, 2009 2:06pm Feb 25, 2009 2:06pm
Maybe 1.27 will hold for today, let's see!!
I like M30 Set up for shorts, but careful, my average is way far from this level.
1.2733 must hold!!

Last PA, the best thing was always short the rises, 1.2760 was good level, not even had enough strength to go to 1.2777.
  • #69,198
  • Feb 25, 2009 2:16pm Feb 25, 2009 2:16pm
1.2700 seems to have some resistance on the H1. On my chart I am seeing a lot of bottoms of the channel. Also, I am seeing that we are in an oversold range on the same chart. Assuming no major news from either sides of the the pond(s) I think the next few hours will be long. I am in at 1.2719, looking for 1.2800 (1.2825) but that will clarify after we have the new pivots after the close of the session.


Opinions?
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Makin my way, the only way I know how...
  • #69,199
  • Feb 25, 2009 2:17pm Feb 25, 2009 2:17pm
[quote=BoredToLoose;2564424]
1.2733 must hold!!

it didn't.
  • #69,200
  • Feb 25, 2009 2:26pm Feb 25, 2009 2:26pm
i'm in a long, and slightly scared.
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