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  • #71,281
  • Mar 4, 2009 4:58pm Mar 4, 2009 4:58pm
Quoting dotweb.pl
Here is something to get relaxed:
http://www.smog.pl/wideo/24494/chcia...enia_na_wf_ie/

I wish i had so much fun at my high school
Hmm...doesn't play for me
Doing what you like is Freedom. Liking what you do is Happiness.
  • #71,282
  • Mar 4, 2009 5:03pm Mar 4, 2009 5:03pm
Quoting Levent
We've all been there. Here is what you do....
Great advice...

Be careful trading a trend way too many time frames above your trading style.

I see acumen can trade the weekly trend on the 15 min time frame, he's experienced enough to do this. It is not recommended for the inexperienced. A recipe for account destruction.
  • #71,283
  • Edited 5:23pm Mar 4, 2009 5:12pm | Edited 5:23pm
the peak (#12) in the chart in from dec.. the trend is down from 1.4310... one or 2 days countertrend will not change the trend yet..
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those who can, do. those who cant, talk about those who can
  • #71,284
  • Mar 4, 2009 5:14pm Mar 4, 2009 5:14pm
I've been waiting for a bounce off this 50% and will be looking to go short later in the session. For right now I am just going to watch the H1 and see if PA confirms a short position.
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  • #71,285
  • Mar 4, 2009 5:24pm Mar 4, 2009 5:24pm
I took 240 pips profit today and after 19 hours with forex i`m going to sleep, If it goes lower then take some shorts for me guys

Good trading!
  • #71,286
  • Mar 4, 2009 5:26pm Mar 4, 2009 5:26pm
Quoting c-note
no logical reason to short euro?--euro will be coming up againt a good s/r zone at 1.2675/80 level that has been both support and resistance. last touch of that level price fell over 200 pips. That level shows across 4 hr, 1 hr , 30 min ect. so if you want to short then that is a logical area to do so.
I meant during NY session. It's sitting on a RL as we speak and no confirmation for a pull back as of this hour.
  • #71,287
  • Mar 4, 2009 5:44pm Mar 4, 2009 5:44pm
My bias for a bull run has not changed. PA is quite clear at this point and we're hovering around some very important PPZ.

Longer term charts are screaming USD weakness in most (not all) majors. Dollar index has a rising wedge with a typical head fake to the upside to collect buy stops. We are now back inside this wedge. If it can get back below November 08 highs, dollar bulls be weary.

Swissy has broken the bear flag to the downside. A test of support turned resistance is favoured. Will be watching PA closely on this one.

The attempts to move down on this pair are failing miserably, suggesting seller power is just not there. Not a 100% certainty that bulls will prevail, bulls can easily change to bears and vice-versa (that's randomness for ya).

My bias is PA only, no fundies as it's always the same. Euro zone is in shit, US is in shit, UK is in shit. It's just one big shit fest.

I don't care which way it goes, I'll be riding in the slipsteam of the steam train when it decides its direction.
  • #71,288
  • Mar 4, 2009 6:02pm Mar 4, 2009 6:02pm
We're going down
Doing what you like is Freedom. Liking what you do is Happiness.
  • #71,289
  • Mar 4, 2009 6:04pm Mar 4, 2009 6:04pm
1.2600 first
  • #71,290
  • Mar 4, 2009 6:05pm Mar 4, 2009 6:05pm
Quoting emda
1.2600 first
That's where I set my limit...for now
Doing what you like is Freedom. Liking what you do is Happiness.
  • #71,291
  • Mar 4, 2009 6:06pm Mar 4, 2009 6:06pm
Japan's [MOF Q4 CAPEX SURVEY] showed business investment diving by a torrid 17.3% from a year earlier during the Oct-Dec period versus a -13% fall in the prior survey. It marked the seventh straight quarter of declines and came in a tad worse than expectations on a -16.6% fall. The survey also showed pre tax profits plunging by -64.1% on the year vs -22.5% prior and corporate sales declining by -11.6%. With business invt falling more than expected, the preliminary Q4 GDP release of growth contracting by an annualised 12.7% risks to be revised down; confirming Japan is well entrenched in its worst recession in 35yrs. Recurring profits have fallen drastically and also suggest that firms will continue to cut back on spending; keeping the economy bogged down well into the 1st half of 2009.
those who can, do. those who cant, talk about those who can
  • #71,292
  • Mar 4, 2009 6:19pm Mar 4, 2009 6:19pm
Quoting realjumper
We're going down
Sadly the two pairs I follow which trade very similar still cant get below a 10 minute intraday trendline from the last 12 hours.
Attached Image (click to enlarge)
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+ Charts Happen
  • #71,293
  • Mar 4, 2009 6:28pm Mar 4, 2009 6:28pm
Thats what Reuters said:
1Wk: Weak : 4Wk: Weak SUP 2: 12325 *** SUP 3: 12180 **
(OVERVIEW) Fighting to turn tide as reached oversold on daily basis.That said, appears to be failing as holds below 12775.Now threatens 12510, but developing down trend focuses on 12325 even 12085 further out. Reclaiming and holding 12750 however now should turn tide again and refocus on 13000/13090 then 13370.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #71,294
  • Mar 4, 2009 6:40pm Mar 4, 2009 6:40pm
Quoting NuckingFuts
My bias is PA only, no fundies as it's always the same. Euro zone is in shit, US is in shit, UK is in shit. It's just one big shit fest.
I don't care which way it goes, I'll be riding in the slipsteam of the steam train when it decides its direction.
or the slipstream of the steaming pile...
Attached Image
  • #71,295
  • Mar 4, 2009 6:42pm Mar 4, 2009 6:42pm
Quoting Trading Cat
Thats what Reuters said:
1Wk: Weak : 4Wk: Weak SUP 2: 12325 *** SUP 3: 12180 **
(OVERVIEW) Fighting to turn tide as reached oversold on daily basis.That said, appears to be failing as holds below 12775.Now threatens 12510, but developing down trend focuses on 12325 even 12085 further out. Reclaiming and holding 12750 however now should turn tide again and refocus on 13000/13090 then 13370.
Well 1.2775 was never close today.

CNBC paraded floor tader after floor trader today to make comments on today's rally and everyone of them said the same thing. 700 holds for today but will not old in the near term.

I am crudely equating 700 S&P = 1.2500
+ Charts Happen
  • #71,296
  • Mar 4, 2009 6:46pm Mar 4, 2009 6:46pm
Quoting noblehobo
or the slipstream of the steaming pile...
Either way, yeah.
  • #71,297
  • Mar 4, 2009 6:58pm Mar 4, 2009 6:58pm
seems like that inverted h&s is starting to form the right shoulder. at the very least pa should retest the 1.2565 level to prove it has become strong support...if not...all hell will break loose to the downside. one other thing that is note worthy...whether 1.2625 has become resistance again now that its been broken. so yeah....same old range as always...1.2565 to 1.2625..break of this determines future direction

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Different opinions highly valued, ignorant to slander.
  • #71,298
  • Mar 4, 2009 7:19pm Mar 4, 2009 7:19pm
I got out at 1.2600. +50 pips and I'm done till the rate announcements tomorrow to catch the train.
  • #71,299
  • Mar 4, 2009 7:26pm Mar 4, 2009 7:26pm
I have a Daily short signal for E/J so that could mean E/U could come with it. Now that is not etched in stone, however, I trade E/J regularly and they run together 90 % of the time.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #71,300
  • Mar 4, 2009 7:32pm Mar 4, 2009 7:32pm
Quoting Byrd
I got out at 1.2600. +50 pips and I'm done till the rate announcements tomorrow to catch the train.
Looks like you and everyone else...It bounced right off 1.2600 for a 24 pip jump...it looks like it may test it again though.
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