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  • #71,001
  • Mar 4, 2009 3:00am Mar 4, 2009 3:00am
doesn't that look like an M formation on a 15 min?
Trade on your own risk Plan your trade&trade your plan dont be a
  • #71,002
  • Mar 4, 2009 3:00am Mar 4, 2009 3:00am
Quoting dysan4x
I trade off tick charts only and watch price like a hawk.
what platform offers tick charts? I have used only ibfx and cant even stand the 1min charts anymore as there are so many gaps between candlesticks that its hard to determine which gap will get filled and which will not. Even the 5min chart is extreme given certain times. Still I plan to switch to a more professional platform as soon as equity allows me to so again..which broker offers tick charts with real to the pip data?
Different opinions highly valued, ignorant to slander.
  • #71,003
  • Mar 4, 2009 3:02am Mar 4, 2009 3:02am
Quoting Trading Cat
doesn't that look like an M formation on a 15 min?
Sure looks that way.
  • #71,004
  • Mar 4, 2009 3:04am Mar 4, 2009 3:04am
Quoting Trading Cat
doesn't that look like an M formation on a 15 min?
15min not really...too choppy. the 5min chart..definetely..could be. still....i consider this more of a range now with the previous low of the major range before the break down after us session close with 1.2535 acting as resistance and the high of the previous range at the low acting as support (1.2505 or so)....only a break of those values will indicate further direction to me at this time with even stronger resistance at 1.2565 and stronger support at 1.2475/85 area. Until those areas are broken and possibly retested..no entries here..just a consolidation in the middle.
Different opinions highly valued, ignorant to slander.
  • #71,005
  • Mar 4, 2009 3:07am Mar 4, 2009 3:07am
i've set to reverse my short to long @ 1.2485
additional long at 1.2460.
  • #71,006
  • Mar 4, 2009 3:09am Mar 4, 2009 3:09am
Quoting F.x.
I can't understand the logic of setting a SL based on numbers or calculations. There are too many factors involved, and those factors are always changing.

But then again, I just hate doing calculations and using my brain in general.
My squeal factor is based on MM not an arbitrary number. For example, if I am up 500 pips from last week this week my factor will be 250 pips as I am always protecting the profit. If I have a losing day I take some time off. I congratulate anyone that can make money in any market. SL or not. This is a tough way to make money if not psychologically prepared for the losses. If you are a 70% winner there is still a 72% chance you will have 3 losing trades in a row within your next 50 trades. If one is not prepared for those losses it can create symptoms of not being able to pull the trigger on winning trades. Just something to think about.

Everybody make lots of pips today.
  • #71,007
  • Mar 4, 2009 3:09am Mar 4, 2009 3:09am
Quoting psiholog
15min not really...too choppy. the 5min chart..definitely..could be. still....i consider this more of...
Thanks psi and F x
I am still short had been shitting my self (figure of speech) with my short as sl is 1.2547 never the less I still see it going down.
No worries have to go and fix my car will see later if my system threw me a bad apple
Trade on your own risk Plan your trade&trade your plan dont be a
  • #71,008
  • Mar 4, 2009 3:11am Mar 4, 2009 3:11am
this chart is an extension of my previous post to clearly show how i see current pa...no other supports/resistances included to show the range we are currently in

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 29 KB
Different opinions highly valued, ignorant to slander.
  • #71,009
  • Mar 4, 2009 3:16am Mar 4, 2009 3:16am
Quoting psiholog
15min not really...too choppy. the 5min chart..definetely..could be. still....i consider this more of...

1.2457 will be the next good long entry. It will create a double bottom in the chart
  • #71,010
  • Mar 4, 2009 3:20am Mar 4, 2009 3:20am
Quoting Terminale
1.2457 will be the next good long entry. It will create a double bottom in the chart
honestly if that level gets reached again...im going to sleep flat as i would be dumbfounded. i know the ecb rate cut decision data is pending but just one look at the daily charts suggests at least one nice big long bull candle. if we break 1.2565 on the other hand followed by retest to make sure it has become support again...you can guess ill be entering long


Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 28 KB
Different opinions highly valued, ignorant to slander.
  • #71,011
  • Mar 4, 2009 3:24am Mar 4, 2009 3:24am
.......at 1.2516, looking for a run down to 1.2463 and then????

Good Trading.
Good Trading. (keep it simple).
  • #71,012
  • Mar 4, 2009 3:41am Mar 4, 2009 3:41am
A Daily inside Bottom Failure is in the works and bears that out. Next 4 hour candle closes above 1.2526 will give us a Bullish Morning Star formation leading to a failed inside bottom when the Daily closes above 1.2583.

AJ


Quoting psiholog
honestly if that level gets reached again...im going to sleep flat as i would be dumbfounded. i know the ecb rate cut decision data is pending but just one look at the daily charts suggests at least one nice big long bull candle. if we break 1.2565 on the other hand followed by retest to make sure it has become support again...you can guess ill be entering long


Attachment
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #71,013
  • Mar 4, 2009 3:43am Mar 4, 2009 3:43am
That, and the fact that I just got a Sell signal on U/CHF.

AJ
Quoting AJspeed
A Daily inside Bottom Failure is in the works and bears that out. Next 4 hour candle closes above 1.2526 will give us a Bullish Morning Star formation leading to a failed inside bottom when the Daily closes above 1.2583.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #71,014
  • Mar 4, 2009 3:50am Mar 4, 2009 3:50am
Oh, By the way, Thats a Bullish Harami formation on the 4 Hr, boys!

AJ
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 23 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #71,015
  • Mar 4, 2009 4:01am Mar 4, 2009 4:01am
Anyone else loving the ranges during this time PST? =/. Im going to bed ...lets see if my limit buy order triggers
2380
Going to make it big by age 21.
  • #71,016
  • Mar 4, 2009 4:12am Mar 4, 2009 4:12am
If it does, I'll eat my keyboard. LOL

Quoting dstryr
Anyone else loving the ranges during this time PST? =/. Im going to bed ...lets see if my limit buy order triggers
2380
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #71,017
  • Mar 4, 2009 4:14am Mar 4, 2009 4:14am
Quoting AJspeed
If it does, I'll eat my keyboard. LOL
and if it doesnt I'll still get a nice nights sleep....seems like im in the win-win here .

Take a look at the daily and you can see it still has more room to go down.
Going to make it big by age 21.
  • #71,018
  • Mar 4, 2009 4:15am Mar 4, 2009 4:15am
Moved sl to 1.2542 from 1.2547 getting it equel with my sma on the 1h chart according to my trading plan.
M formation finalizing on 5m chart.
good trading everyone
Trade on your own risk Plan your trade&trade your plan dont be a
  • #71,019
  • Mar 4, 2009 4:28am Mar 4, 2009 4:28am
Quoting AJspeed
If it does, I'll eat my keyboard. LOL
I would pay to see this happen :-))
  • #71,020
  • Mar 4, 2009 4:34am Mar 4, 2009 4:34am
Imho there is much more chance it is going to retest the bottom before to run up,I guess non farm employment change can make the difference today and boost the pair,problem is where,forecast about this issue are bad for usd and should move the eur up but,as already happened in the past,bad news for usd can even strenght it
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