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  • #73,261
  • Mar 10, 2009 12:37am Mar 10, 2009 12:37am
Quoting ak4x
Will you settle for a Gator Waver?
Yeah but I wouldn't trade with it.

My S/L on my short got hit at a loss. Oh well, shift happens.
Not all sins are created equal
  • #73,262
  • Mar 10, 2009 12:42am Mar 10, 2009 12:42am
Quoting psiholog
the double tops and double bottoms. they never cease to amaze me these days when there is thought of reversal. we all know the bigger 1h/4h W started last week but heres yet another one on the 15min charts. Classic. note that for this one to still be valid..the maximum value we can go down to is 1.2605 but 1.2625 is more likely to act as support as its proven as a pivotal S/R level for so long.
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just got back and i must admit..im impressed!. Today is the first time in a looooooong time (did i say long yet) where a pattern is actually...pretty. Now im still flat but i must say..this is entertaining to watch. Why is it so pretty?...its the first time this year! that a W on a larger timeframe got broken and the retest of the neckline acted as support before continuation up. Does this mean the eur/usd will return back to its "easier to trade days?"..one can only hope haha....screw the choppy.

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Different opinions highly valued, ignorant to slander.
  • #73,263
  • Mar 10, 2009 12:48am Mar 10, 2009 12:48am
Quoting Jay Walker
My S/L on my short got hit at a loss. .
Now that i'm plumb wore out, stopped out, and hittin the Bowl and Bottle, watch it tap R1 and collapse... I'll cheer it all the way down.
FUBAR...
  • #73,264
  • Mar 10, 2009 12:50am Mar 10, 2009 12:50am
i would like to note one other thing. this is the first time ever that i think i have seen a large W on the hourly/4h charts and a smaller W on the 15min chart. Truly...cool for lack of a better word. The irony is the neckline for both is around the same value (open to interpretation). Pay attention folks...we dont see the sexiness eur/usd can offer every day...this is....too cool to be true haha.

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Different opinions highly valued, ignorant to slander.
  • #73,265
  • Mar 10, 2009 12:53am Mar 10, 2009 12:53am
Quoting Suj_cess
Yah...im hoping someone who is an EW expert would post it here. Im a EW newbie...so i really need an expert to show their forecast and i can learn from there. Its a very confusing method...but i believe its very effective tool when you can use it correctly.
Just wondering

You are a newbie in EW, you think it's confusing, then how do you know if it is an effective tool?
An EMA is also an effective too, so is RSI.
Just google it up and you will find more info than you possibly want.

Or do you need us to tell you exactly what website to go to?

I just googled it up and google comes with 935,000 search results.

Just start reading all of them. And then come back with questions.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #73,266
  • Mar 10, 2009 1:02am Mar 10, 2009 1:02am
2711 broken...next stop 2725 2753
Going to make it big by age 21.
  • #73,267
  • Mar 10, 2009 1:05am Mar 10, 2009 1:05am
Quoting ak4x
Now that i'm plumb wore out, stopped out, and hittin the Bowl and Bottle, watch it tap R1 and collapse... I'll cheer it all the way down.
Murphy's law at it's finest.

Let it roll down as far as it will go. I'll catch more pips tomorrow.
Not all sins are created equal
  • #73,268
  • Mar 10, 2009 1:05am Mar 10, 2009 1:05am
Good morning folks.

Woke up to a nice scalping setup which I took short from 1.27 to 1.2689. Not a lot of pippage but a nice little win to start the day.

Have an open short from 1.2693 that I'll be leaving in and adding to the position if we continue up from here in anticipation of strong bounces. I'm still looking at 1.29 as a possibility this week.
  • #73,269
  • Mar 10, 2009 1:05am Mar 10, 2009 1:05am
gave back those 8..
those who can, do. those who cant, talk about those who can
  • #73,270
  • Mar 10, 2009 1:07am Mar 10, 2009 1:07am
Quoting psiholog
just got back and i must admit..im impressed!. Today is the first time in a looooooong time (did i say long yet) where a pattern is actually...pretty. Now im still flat but i must say..this is entertaining to watch. Why is it so pretty?...its the first time this year! that a W on a larger timeframe got broken and the retest of the neckline acted as support before continuation up. Does this mean the eur/usd will return back to its "easier to trade days?"..one can only hope haha....screw the choppy.

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Hi Philo, like your comments. One question: when is this pair easyer to trade? Do you mean when it's trending?
  • #73,271
  • Mar 10, 2009 1:08am Mar 10, 2009 1:08am
.... at 1.2717, this was a difficult decision as I was looking for and expecting a short at this area.
We'll see!!
Good Trading. (keep it simple).
  • #73,272
  • Mar 10, 2009 1:08am Mar 10, 2009 1:08am
guys, be carefull. Target 1.2760, in case extend wave maximum 1.2880, further down
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  • #73,273
  • Mar 10, 2009 1:11am Mar 10, 2009 1:11am
Short at 1.2715.

If this becomes a losing trade, I really don't know how what else to do today.

Will call it a day if this turns against me.
  • #73,274
  • Mar 10, 2009 1:16am Mar 10, 2009 1:16am
Quoting Katalyst
Short at 1.2715.

If this becomes a losing trade, I really don't know how what else to do today.

Will call it a day if this turns against me.
Nice call, and I think you'll be pippin, don't be surprised if it's not a huge selloff, take what you can get.
  • #73,275
  • Mar 10, 2009 1:17am Mar 10, 2009 1:17am
A bit off topic but funny

I bought 2 pounds of gold a few hours ago. Its amazing how that trades.
In the last 2 hours I've seen everything from 300 pips up to 400 pips down.
At this moment I'm a 100 pips down --- oh sorry another minute passed --- now I'm 200 pips down. Amazing speed. But in a couple of days I will probably cash somewhere between 5,000 - 10,000 pips. And general expectations are that if I let it ride for the rest of the year I could cash 100,000 pips or way more, depending on dollar value and inflation initiated by Obama's plans.

Just amazing how gold trades.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #73,276
  • Mar 10, 2009 1:18am Mar 10, 2009 1:18am
Moment of Truth coming up soon in a few dozen pips or so, if it makes there...

Slide that shaded S/R bar up or down wherever you'd like, just make sure you have one somewhere in there. The Weekly is smashed down so flat right now, it's hard to make any sense of it.

However, if you go back a ways... you'll see the fat lady don't start singin until a Break and Clear of 2850/2900 or so.

Ho hum...
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FUBAR...
  • #73,277
  • Mar 10, 2009 1:21am Mar 10, 2009 1:21am
Quoting sailor6
Hi Philo, like your comments. One question: when is this pair easyer to trade? Do you mean when it's trending?
the eur/usd is the only pair i trade. since october of last year with the exception of december and half of january we have been ranging in a very tight area. to take the swing high and swing low..that area is 1.2330 or so to 1.3300 or so...a 1000pip range which has narrowed down to pretty much just 1.2565 and 1-2625 in recent weeks with any move out of that range best interpreted as false breakouts. During this time, there wasnt much technical analysis that one could employ (no channels for me mostly or patterns) because pa was just so choppy. the best thing to do was just to pick known strong s/r levels and buy or sell there. Once a strong range is in place for an extended period of time that is the best one can do...buy at the low and sell at the high (in this case each time a low was broken it became the new resistance until the narrow range at the low was reached). On the odd chance the range gets broken..thats what stop loss is for. February for example proved especially difficult for me....i literally just placed orders where i thought strong s/r levels where reached and let pa do the talking..not much thought into it except for gut instinct. Today is crucial to me though because we are finally seeying something that resembles price action with intent of direction. Doesnt matter that it goes up now and drops to the lows tommorow...or we go straight to 1.3000 or whatever. Its just relevant because "the smart money" seems to be coming back into play which should be easier to interpret when making decisions. Call it pivots as ak4x uses them masterfully, call them channels as i used to do when pa made sense...things may start coming back to normal which should make trading easier for all of us no matter what strategy. I would really like that so i can make my daily target of 100 pips, not 50pip daily average like i did last month haha.
Different opinions highly valued, ignorant to slander.
  • #73,278
  • Mar 10, 2009 1:31am Mar 10, 2009 1:31am
Quoting Katalyst
Short at 1.2715.

If this becomes a losing trade, I really don't know how what else to do today.

Will call it a day if this turns against me.
its alrite even IF it turns out to be a losing trade. At least u make your stand already, matter of factly I have been shorting @ 1.2699 since Friday

so Lets see pal...
  • #73,279
  • Mar 10, 2009 1:32am Mar 10, 2009 1:32am
Well, took out a +20 profit on the last short.

Re-entered another short at 1.2710.
  • #73,280
  • Mar 10, 2009 1:33am Mar 10, 2009 1:33am
One Last Chance for this wretched pair to do the right thing...

short at 2710.
FUBAR...
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