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  • #241
  • Mar 6, 2009 3:03am Mar 6, 2009 3:03am

Morning all guys,


at 2711 i'm out of hedging .. and always short



We have touched the line Gann 50% from the maximum marked on 25 Feb.


EDIT: For my part, I will care ,if we descend to the level 1.2662, the highest of the cluster bar marked at 4th Feb

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The best thing that can happen to you is to find out where you're wrong.
  • #242
  • Mar 6, 2009 9:35am Mar 6, 2009 9:35am
Closed out EJ trade. Failed at trendline. I left this one running thru the session, as it did not rebound in late asian/early euro session as did the EU.
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  • #243
  • Mar 6, 2009 9:46am Mar 6, 2009 9:46am
Look how accurate the Fibonacci Extension can be. Here it was applied during yesterday's session to the range H and L. My trade exit was above the 100% area. But see how, with first a pullback, the PA went EXACTLY to the 162% level....! It has pulled back again. Where to? The 100% level area.
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  • #244
  • Edited 6:31pm Mar 6, 2009 11:44am | Edited 6:31pm
Something I pull up from time to time are 8h and 12h charts... here's what I found.

Charts are the same , just toggled TF's so what you see as fibs or TL's are the same on both charts... The 8h gives a whole new perspective on how that 12hr doji was formed, from the bottom up and then failing ((so far)) to hold the high ground gained... ((Doji turned bearish by the Close))

Note the significance of the 50% fib level.. very strong level within this current range, and any continuing move down from there thru the remainder of the session could be telling, as that could easily be the direction we open in with a potential Gap Open to the downside.

I'd like to see the day end back inside the channel a'rd 2620ish/2600 also the 11sma on this TF, and just above the Daily 11sma at 2580ish.

Dotted red line is my primary descending TL, white and yellow ones are secondary, That would complete the BB tap from one side to the other, but again, I'm not anticipating that atm... or even anytime soon. That BB will drop quickly as each TF rolls over.

Current 12hr candle opened 6am CST, 8h opened at 10am CST.
12 h Chart updated to the close, 8 h closed right on the red TL.
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FUBAR...
  • #245
  • Mar 6, 2009 12:00pm Mar 6, 2009 12:00pm
Guys,
I wish you all a nice weekend.

Bye
The best thing that can happen to you is to find out where you're wrong.
  • #246
  • Mar 6, 2009 11:49pm Mar 6, 2009 11:49pm
Ya wanna Supersize that order...?
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FUBAR...
  • #247
  • Mar 7, 2009 4:31pm Mar 7, 2009 4:31pm
hey "nights"! remember me?!?

just wanted to stop in here to say i think this is the awesomest thread ever started at FF nice job guys! since my retirement i obviously havent had time to post much but im going to try to scoot in here once in a while when time permits. im not trading anymore (just an old investor these days) but i do still keep a lazy eye on the markets. its rare for me to come up with any decent insights anymore but if one comes to me i will sprint to this thread to post it! just promise to cut me a break if i come with something weak either way i will be reading this thread regularly...great concept!
Relax and be happy.
  • #248
  • Mar 7, 2009 5:46pm Mar 7, 2009 5:46pm
Quoting merlin
hey "nights"!...
I can think of nothing more to say but......
  • #249
  • Mar 7, 2009 9:06pm Mar 7, 2009 9:06pm
Quoting merlin
hey "nights"! remember me?!?

i obviously havent had time to post much but im going to try to scoot in here once in a while when time permits.

its rare for me to come up with any decent insights anymore but if one comes to me i will sprint to this thread to post it! just promise to cut me a break if i come with something weak...

either way i will be reading this thread regularly...great concept!
...wow.

To the First: Uh.... yeah, the guy with the avatar that the first time I saw it when I was starting out here, I went "Huh?" Then I saw James16's avatar and started having Second Thoughts about this whole Four X's thing and wondered if I should maybe try to get my day job back...

Seriously, I "stalked" many of your posts before even registering at the Factory here, along with a list of several others. I vividly remember not even knowing what you guys were talking about half the time, and used all that as a guide for what to look into, until I began to get it. So yeah, I remember you well, and replying to your post here is just a little unsettling for me..

((ak looking like he might tilt over while trying to get reorientated... Bemac calling loudly for a glass of something Restorative...)) Ahem... Sputter... better now.

To the Second: Your Chair will always be open and your Place assured...

To the Third: Anything, Anytime, Anytopic ((why does that last not look like a real word?")) and we'll gladly take our chances as to it's Worth. Crumbs from the Masters always make a filling meal for the hungry...

To the Fourth: I sincerely hope you find something here that qualifies as "worth it" with regard to the Labor and Efforts that both you and the Original Gang of FF mods, architects, and other members invested into this Forum in it's early days that has provided the platform for the Community that has emerged. It and we wouldn't be here otherwise.

Thank you.

**********

On another note... Happy 5th Anniversary Merlin ((tomorrow)) of your FF membership.
FUBAR...
  • #250
  • Mar 8, 2009 3:53pm Mar 8, 2009 3:53pm
What I see on the weekly chart:

PA continues to follow the center of the channel (blue line). I suspect that this week it will continue to do the same. Many traders here at FF continue to wait for "the big drop". If a drop is coming, it is likely to be big (and volatile) based on normal behavior of PA in a channel. On the other hand, we have been working our way towards a double-bottom, which I am anticipating the possibility of touching this week. We may continue to tap it for the next couple of weeks as well before a direction is decided as a result. Though it may be too early to mention, the all-time 50% fib is 1.2125 and we know the habits of PA of the EU when it touches that fib percent.

The blue rectangle is what I see as likely PA for the upcoming week.
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  • #251
  • Edited 4:19pm Mar 8, 2009 3:56pm | Edited 4:19pm
Quoting ak4x
...wow. ...

On another note... Happy 5th Anniversary Merlin ((tomorrow)) of your FF membership.
Uhh.. Shouldn't that read...

Happy 5th Anniversary Merlin ((tomorrow)) of FF.

NO! Honestly Dad, He Started It. I just jumped in.
This also answers the "Longest Member Still Posting" question.
WT... He's a wizard. He probably used some ancient potion & now sits back & collects revenue from selling it to the Pharms.
Didn't you, also, think Viag_- came out of the Woods. {not Woodies.} rather abruptly?

Well done Sir Merlin.
Your entire History of Nightlyness on this Forum are the bounds of this Thread,a Model to aspire to.

Nights, please raise a Pip in appreciation of Merlin...
The REASON we are here.
Pip pip...
  • #252
  • Mar 8, 2009 4:41pm Mar 8, 2009 4:41pm
Quoting Bemac
Nights, please raise a Pip in appreciation of Merlin...
The REASON we are here.

Pip pip...
Hoooraay!!

And don't forget to leave a Widdy Repartee for him and some soon to follow other "Fivers" at ---> http://www.forexfactory.com/showthread.php?t=156732 as well.

((And you're right on the wording there B, but I was a glass and a half into the Good Stuff at the time...))
FUBAR...
  • #253
  • Mar 8, 2009 4:46pm Mar 8, 2009 4:46pm
Quoting Bemac
Nights, please raise a Pip in appreciation of Merlin...
The REASON we are here.
Pip pip...
Thanks Merlin for making these nights (and knights) possible. This FF place has absolutely made a difference in my pip yield.
  • #254
  • Mar 8, 2009 5:07pm Mar 8, 2009 5:07pm
Hi AK - I thought I give you an early surprise by posting a daily chart and also talking about monthly S / R...http://www.forexfactory.com/images/icons/icon11.gif......then I got a bit worried when I noticed that The Wizard Himself had popped by and cast a spell.....hope I dont turn into something nasty overnight....http://www.forexfactory.com/images/icons/icon12.gif.....if I'm still OK to type in the morning I'll pass on my best wishes to Merlin in the appropriate thread....

Lets see what FO / LO bring tomorrow.....nite nite....
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Trading Levels with WRBs
  • #255
  • Mar 8, 2009 11:31pm Mar 8, 2009 11:31pm
Quoting Islander
Hi AK - I thought I give you an early surprise by posting a daily chart and also talking about monthly S / R...http://www.forexfactory.com/images/icons/icon11.gif......then I got a bit worried when I noticed that The Wizard Himself had popped by and cast a spell.....hope I dont turn into something nasty overnight....http://www.forexfactory.com/images/icons/icon12.gif.....if I'm still OK to type in the morning I'll pass on my best wishes to Merlin in the appropriate thread....

Lets see what FO / LO bring tomorrow.....nite...
Islander, seems you are able to color fill "zones" on your chart. An indicator that does that is what I have been looking for. If you are using an indicator that does that, can you post the .mq4 file? Thanks either way.
  • #256
  • Mar 8, 2009 11:39pm Mar 8, 2009 11:39pm
EU, entered short on break of support. And could that be a H & S?
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  • #257
  • Mar 8, 2009 11:52pm Mar 8, 2009 11:52pm
Quote
Islander, seems you are able to color fill "zones" on your chart. An indicator that does that is what I have been looking for. If you are using an indicator that does that, can you post the .mq4 file? Thanks either way.

MT4 has the feature. It's called "rectangle." Insert->Shapes->Rectangle.
  • #258
  • Edited Mar 9, 2009 12:51am Mar 8, 2009 11:59pm | Edited Mar 9, 2009 12:51am
EJ THV entry short on trendline break on M1.

Edit: Add on spike up (head fake I do believe)
Edit: Add one more on current spike. Trix getting tired and volume off.
Edit: Add M1 chart....still stalking a trendline break down.
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  • #259
  • Mar 9, 2009 12:32am Mar 9, 2009 12:32am
Quoting traderathome
EJ THV entry short on trendline break on M1.

Edit: Add on spike up (head fake I do believe)
Edit: Add one more on current spike. Trix getting tired and volume off.
Testing 1.2450 psych level.
  • #260
  • Mar 9, 2009 12:36am Mar 9, 2009 12:36am
Quoting traderathome
......volume off.
There have been discussions at FF about volume and questions about how reliable the volume information is. What do you say to this criticism and does that affect how you use the volume information?
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