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  • #69,861
  • Feb 27, 2009 9:43am Feb 27, 2009 9:43am
Remember the weekly chart, I'm not saying it is a clue, just that it must be taken into consideration....
Traders are smartasses
  • #69,862
  • Feb 27, 2009 9:45am Feb 27, 2009 9:45am
Quoting traderathome
Here is a chart showing my EJ trade which started during the first dip of this session. I believed it would then move higher, but one can NEVER know for sure. As the professional traders manipulated it up and down with some major whipsaws down, I added. There are 9 components now in this trade, each being very small. The PA dumped about 200 pips so far during this trade, and even if all of my components were down 200 pips, I would not be overleveraged. As it stands, when the PA is again around 123.30 I will be without loss. At my original entry...
Here is how my trade worked out. I closed it early, not to risk gain in what might become a lackluster end of the Friday session.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot # 14.gif Size: 35 KB
  • #69,863
  • Feb 27, 2009 9:49am Feb 27, 2009 9:49am
its past 62% retrace now.1.2693...and against s/r.. lets see how it handles 2740ish
those who can, do. those who cant, talk about those who can
  • #69,864
  • Feb 27, 2009 9:50am Feb 27, 2009 9:50am
It is Friday, really!!

Ok, last short at 1.2728!
  • #69,865
  • Feb 27, 2009 9:51am Feb 27, 2009 9:51am
On Fridays we must be very carefull. No one can say when this up move will stop or... reverse with the same strenght! Carefull!
  • #69,866
  • Feb 27, 2009 9:52am Feb 27, 2009 9:52am
Quoting arthurb
everything was overbought today on the market,
tomorrow will be a cool off friday
i will be covering my shorts at 1.255-1.25


what should i do ?
where is euro headed ?
should i buy ?
should i sell ?
should i iron-condor it ?

help me
usdx seems very reluctant to break the 89 level, have to revisit my expectations
the chicken bones aren't telling the truth to me right now,
another sucker rally coming ?
  • #69,867
  • Feb 27, 2009 9:53am Feb 27, 2009 9:53am
Quoting Chicky
Don't worry I follow your advice. It is only that I use different time frames for different trades and go with Their respective trends.

As an innovation to my method, also try to look at probable long term trends that world economic situations may form. Currently expecting a dent in downward trend before it continues.
good call you have to show me that sometime.. i know it happens on fridays.. i wish i had an indicator to show me why..
those who can, do. those who cant, talk about those who can
  • #69,868
  • Feb 27, 2009 9:56am Feb 27, 2009 9:56am
Quoting arthurb
usdx seems very reluctant to break the 89 level, have to revisit my expectations
the chicken bones aren't telling the truth to me right now,
another sucker rally coming ?
So you are thinking false breakout?
  • #69,869
  • Feb 27, 2009 9:56am Feb 27, 2009 9:56am
Quoting gatorinla
good call you have to show me that sometime.. i know it happens on fridays.. i wish i had an indicator to show me why..
Me 2.... On that movement up, i just recovered my losses for today. Perfect 0 pip...

I will let it settle and jump in.
  • #69,870
  • Feb 27, 2009 9:57am Feb 27, 2009 9:57am
Pinbar on daily at end of the day?
Could put the cat amongst the pigoens(shorts)
  • #69,871
  • Edited 10:01am Feb 27, 2009 9:59am | Edited 10:01am
Quoting Byrd
So you are thinking false breakout?
i am thinking that euro has been building a strong base for quite some time by now, and all this sucker rallies should mean something by now, since they have been too frequent, but i still don't see any sentiment shift so far

Quote
Pinbar on daily at end of the day?
Could put the cat amongst the pigoens(shorts)
exactly
  • #69,872
  • Feb 27, 2009 9:59am Feb 27, 2009 9:59am
Quoting traderathome
...Personally, I believe the Fib. Retracement tool is best suited to measuring range constructed by the candles/shadow themselves, rather than measuring the span between BBs, and that the Fib. Extension does a better job of the latter.
Which fib extension tool do you use? Is it the basic one included with MT4?

BTW, the bollinger squeeze delivered, as you undoubtedly noticed.
  • #69,873
  • Feb 27, 2009 10:08am Feb 27, 2009 10:08am
Quoting TradeWell
Which fib extension tool do you use? Is it the basic one included with MT4?

BTW, the bollinger squeeze delivered, as you undoubtedly noticed.
The Fib. Ext. tool is provided in MT4. Both it and the Fib. Retracement tool can be tweeked......add/change levels, etc. Since I like to leave the FR as-is, and I like to tweek for BB squeeze breakouts, I use the FE tool for that. Really, either one is ok. I believe in experimenting and then using the platlform in the most user friendly way for one's own purpose. Using the FR on BB pinches is a "quick and easy" way, and as you just saw, it works.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot # 13c.gif Size: 36 KB
Click to Enlarge Name: screenshot # 13d.gif Size: 36 KB
  • #69,874
  • Feb 27, 2009 10:09am Feb 27, 2009 10:09am
1.2740 here we go?
  • #69,875
  • Feb 27, 2009 10:09am Feb 27, 2009 10:09am
GU has fallen, now euro turn to fall
ROBOT FOREX
  • #69,876
  • Edited 10:34am Feb 27, 2009 10:12am | Edited 10:34am
Just got back home. Almost perfect stall and retrace at the 2727 QP... that level posted here 16hrs ago...
http://www.forexfactory.com/showpost...ostcount=69537

Be careful ya'll don't bump your heads on a TL today... that could hurt.

ADD: The original link i'm trying to post won't work, maybe the postcount is messed up, using the initial one instead to show the qp's properly, and this bull run is actually the move i was worried about, just coming from a lot lower than I anticipated.
Attached Image
FUBAR...
  • #69,877
  • Feb 27, 2009 10:13am Feb 27, 2009 10:13am
Quoting gatorinla
good call you have to show me that sometime.. i know it happens on fridays.. i wish i had an indicator to show me why..
I have just chickened out with some pips to count over the weekend.

It's fairly simple but not guaranteed. Economic part of that gives a bias. Mechanics I use is a strange blend of methods learned (or stole) from Jacko, Stewardr and Shakes, sprinkled with some basics from Trading in the Zone. I will try to put these thoughts on a piece of paper. ...... and indeed, Friday is a Dryday.
The Thief of Wall Street
  • #69,878
  • Feb 27, 2009 10:18am Feb 27, 2009 10:18am
I have take some profit at 1.2656.
Unhappily I was out to close some more around 1.2600.

My averages 1.2770, let's see!!

WOW, look this M30, if close below 1.2677!! I am HAPPY!!
  • #69,879
  • Feb 27, 2009 10:19am Feb 27, 2009 10:19am
[RUSSIAN PM PUTIN] earlier said he is against the idea of restoring [CAPITAL CONTROLS], this follows calls from officials to support the Rouble. Putin points out that theoretically it is possible, but it would mean abandoning plans to turn the [ROUBLE] into a regional reserve currency and he thinks this would be "a shame" in terms of future economic development. In our view capital controls in Russia would be an obvious tool to regain control of the Rouble without having to engage in immediate heroic monetary and fiscal tightening, but even if the anti-control wing led by Putin continues to win the argument, events may well force the hand of the authorities. Russia 2009 looks more and more like Russia 1998: IP has collapsed and industry has borrowed heavily from abroad in foreign currency and on a short term basis while its banking system can no longer fund itself.
those who can, do. those who cant, talk about those who can
  • #69,880
  • Feb 27, 2009 10:20am Feb 27, 2009 10:20am
Quoting Byrd
Whatever makes sense, do the opposite on fridays.
How about I do the opposite of that.
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