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EURUSD

  • #70,141
  • Mar 1, 2009 10:22pm Mar 1, 2009 10:22pm
STUPID TRADING MODE OFF

I'm OUT, okay think I've got how not to do it down to a art


It'll obviously run 150pips up in the next 20mins, nothing changes.


Night all!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,142
  • Mar 1, 2009 10:22pm Mar 1, 2009 10:22pm
Quoting SunTrader
For all those who watch gaps. Here is something to consider: 2 gaps from long ago still unfilled. one at 1.21xx area and one at 1.03xx area.
good to know.. they must be huge for you to still be able to see them?
those who can, do. those who cant, talk about those who can
  • #70,143
  • Mar 1, 2009 10:24pm Mar 1, 2009 10:24pm
Quoting gatorinla
i got 25 36 area from last years low.. i dont trust it.. what do the rest of you have?
i've got 2544 and 2533 from last year
  • #70,144
  • Mar 1, 2009 10:29pm Mar 1, 2009 10:29pm
Quoting SunTrader
For all those who watch gaps. Here is something to consider: 2 gaps from long ago still unfilled. one at 1.21xx area and one at 1.03xx area.

Can you tell us when did that happen? date/month/year??
Collecting pips
  • #70,145
  • Mar 1, 2009 10:30pm Mar 1, 2009 10:30pm
I'm not sure where it will go, but here's the fibs I have been using since last week. Maybe it can be of use to someone. I used this chart to make six trades last week and gained 150 pips.

Happy pippin all,


http://screencast.com/t/ifzjITtec

EIDT: I should probably mention this is a one hour chart.
  • #70,146
  • Mar 1, 2009 10:30pm Mar 1, 2009 10:30pm
Most gaps, likely 80%, 50% back fill within a couple of hours of the gap down, so it's generally a smart bet, just this wasn't 1 of those days sadly.


My error was not exiting and taking a small profit on several occasions, when it started to look pretty obviously like a downtrend / selling was the theme for the moment.

It enforces my must only trade with the Trend as defined by my system nicely though

Hopefully gets the STUPID trading outta my system.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #70,147
  • Mar 1, 2009 10:30pm Mar 1, 2009 10:30pm
Quoting dysan4x
i've got 2544 and 2533 from last year
thanks.. it hard for me to draw one perfect with the basic charts i got..
those who can, do. those who cant, talk about those who can
  • #70,148
  • Mar 1, 2009 10:33pm Mar 1, 2009 10:33pm
Quoting Turveyd
Most gaps, likely 80%, 50% back fill within a couple of hours of the gap down, so it's generally a smart bet, just this wasn't 1 of those days sadly.


My error was not exiting and taking a small profit on several occasions, when it started to look pretty obviously like a downtrend / selling was the theme for the moment.

It enforces my must only trade with the Trend as defined by my system nicely though

Hopefully gets the STUPID trading outta my system.
this support is strong.. i think you had a great idea. just a risky entry...it still may close that gap..
those who can, do. those who cant, talk about those who can
  • #70,149
  • Mar 1, 2009 10:40pm Mar 1, 2009 10:40pm
Quoting Suj_cess
Can you tell us when did that happen? date/month/year??
12/26/02 and 4/14/06
  • #70,150
  • Mar 1, 2009 10:41pm Mar 1, 2009 10:41pm
s/r areas they should be strong excludes trend line..these numders are areas and can be 10 pips or so on either side of number.. there not exact! 2565....2558...2530....2484....2424.......2323....2207....2159....this should be enough for tonight *L*
those who can, do. those who cant, talk about those who can
  • #70,151
  • Mar 1, 2009 10:44pm Mar 1, 2009 10:44pm
take a look at the monthly chart!! does it mean anything to any of you? any input?
Collecting pips
  • #70,152
  • Mar 1, 2009 10:49pm Mar 1, 2009 10:49pm
Quoting Suj_cess
take a look at the monthly chart!! does it mean anything to any of you? any input?
yeah downtrend forming a w it hasnt changed in weeks..its near lower trend and either has to break it or finish the last leg of w..or double bottom last years low.. either shit or get off the pot..
those who can, do. those who cant, talk about those who can
  • #70,153
  • Mar 1, 2009 11:05pm Mar 1, 2009 11:05pm
Quoting gatorinla
yeah downtrend forming a w it hasnt changed in weeks..its near lower trend and either has to break it or finish the last leg of w..or double bottom last years low.. either shit or get off the pot..

Historically when i see such fat candles and the later one close at bottom....the probability is high for the down trend to continue.
It happens almost all the time....candle spike up close high...then next candle spike down candle close low...almost as low as or lower than the previous candle open. After that....its down down down....before the next big retrace.
Collecting pips
  • #70,154
  • Mar 1, 2009 11:18pm Mar 1, 2009 11:18pm
Quoting Suj_cess
Historically when i see such fat candles and the later one close at bottom....the probability is high for the down trend to continue.
It happens almost all the time....candle spike up close high...then next candle spike down candle close low...almost as low as or lower than the previous candle open. After that....its down down down....before the next big retrace.
your right.. but sometimes support can trump this..we are at a pivot and bears and bulls are fighting.. it may take a while.. but i think bulls are fighting a losing battle if news continues bad..u.s. used to manufacture things..now we are more a service economy... so we buy most things from other countries..if we aint buying they are not suppling..most tof the stuff we buy from other countries is crap we dont need. they are not necessities..we buy most necessities food ect domesticly... thats not to say we dont purchase foreign stuff still but we buy less..killing the exporting countrys.. we aint buying many bmws and with the job situation we will buy less..our devicit will go down and make dollar stronger..
those who can, do. those who cant, talk about those who can
  • #70,155
  • Mar 1, 2009 11:28pm Mar 1, 2009 11:28pm
March 2 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” this year, and perhaps longer, before recovering from the reckless lending that caused the worst “freefall” he ever saw in the financial system.
The economy and stocks will rebound, and the best days for the U.S. are ahead, said Buffett, chairman of Berkshire Hathaway Inc., in his annual letter to shareholders Feb. 28. Buffett said he’ll spend the recession shopping for new investments for Omaha, Nebraska-based Berkshire.
“The economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond,” said Buffett. “Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so.”
Buffett, an informal adviser to President Barack Obama, said the consequences of the U.S. housing bubble are now “reverberating through every corner of our economy.” Gross domestic product shrank at a 6.2 percent annual pace from October through December, the most since 1982, the Commerce Department said last week.
Late last year, “the credit crisis, coupled with tumbling home and stock prices, had produced a paralyzing fear that engulfed the country,” said Buffett, 78. “Fear led to business contraction, and that in turn led to even greater fear.”
Berkshire’s fourth-quarter net income fell 96 percent to $117 million, the firm said Feb. 28. Book value per share, a measure of assets minus liabilities, slipped 9.6 percent for all of 2008, the worst performance under Buffett’s watch, on the declining value of derivatives and the stock portfolio. Berkshire shares have plunged 44 percent in the 12 months through Feb. 27.
‘Socks or Stocks’
those who can, do. those who cant, talk about those who can
  • #70,156
  • Mar 1, 2009 11:59pm Mar 1, 2009 11:59pm
Quoting Suj_cess
take a look at the monthly chart!! does it mean anything to any of you? any input?
I'm a day trader, why would I look at a monthly chart? Do you think that any sign on the monthly will play out in the next 24 hours?

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #70,157
  • Mar 2, 2009 12:06am Mar 2, 2009 12:06am
Quoting KillerWhale
I'm a day trader, why would I look at a monthly chart? Do you think that any sign on the monthly will play out in the next 24 hours?

Shamu
well then this post aint for you pal...and i don't expect any input from daytraders like you...but i am happy to read any thoughts from anyone...happy pippin!
Collecting pips
  • #70,158
  • Mar 2, 2009 12:12am Mar 2, 2009 12:12am
Quoting KillerWhale
I'm a day trader, why would I look at a monthly chart? Do you think that any sign on the monthly will play out in the next 24 hours?

Shamu
Call me crazy but I'm guessing he assumed there were other posters on the thread who weren't day traders. Could that be?
  • #70,159
  • Mar 2, 2009 12:16am Mar 2, 2009 12:16am
Quoting gatorinla
March 2 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” this year, and perhaps longer, before recovering from the reckless lending that caused the worst “freefall” he ever saw in the financial system.
The economy and stocks will rebound, and the best days for the U.S. are ahead, said Buffett, chairman...

Equity market has been nose diving for 1.5 yrs now....Governments around the world has been trying hard to menouver this flight back to its flight path but failed again and again. We are heading for a CRASH LANDING....and the way i see it...its a blessing in disguise.
Collecting pips
  • #70,160
  • Mar 2, 2009 12:28am Mar 2, 2009 12:28am
Even for a daytrader it's wise to keep an eye on the longer-term charts.


Closed my weekend short last night for a nice profit, and simultaneously set some longs that are looking good right now.

We will see some lower prices but a strong rebound is building. Though I wouldn't expect it until after we see a dive stemming from the upcoming rate cut (no telling if that dive will be a one day thing or last a week or more.)

Bottom line, I'll be looking to catch a nice swing south later this week while building longs that I plan to hold for a while.
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