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  • #73,841
  • Mar 11, 2009 2:01am Mar 11, 2009 2:01am
Quoting gatorinla



im in since 2720 but if i wasnt i would not enter now.. then again im not a scalper much.. that was a hell of a bounce..
in short or long? because in my mind we will see 1.2800 and above later today....i will remove that thought as soon as i get stopped out as that would mean we went well below 1.2625...
Different opinions highly valued, ignorant to slander.
  • #73,842
  • Mar 11, 2009 2:01am Mar 11, 2009 2:01am
Quoting NuckingFuts
It is actually a bear flag and has been pointed out umpteen times in the past few hours.

Don't worry, I was just toying with you.
Show me your chart and show me 'your' bear flag on this chart, 'cause I have no idea what you're talking about.
  • #73,843
  • Mar 11, 2009 2:02am Mar 11, 2009 2:02am
-1.2% vs -0.1 it's worse than last time of -1.0 Get in while you can I think we break the W1 pivot at 1.2621
"Diversification is an excuse for a lack of talent" ~FXC
  • #73,844
  • Mar 11, 2009 2:04am Mar 11, 2009 2:04am
Quoting T.E.Lawrence
Show me your chart and show me 'your' bear flag on this chart, 'cause I have no idea what you're talking about.
Quoting NuckingFuts
Looks like you have a nice bear flag formation there... Also visible on the daily.
Same channel.................

http://www.forexfactory.com/attachme...1&d=1236749301
  • #73,845
  • Mar 11, 2009 2:05am Mar 11, 2009 2:05am
Good morning to everyone, have a great day and green pips !
Liz
  • #73,846
  • Mar 11, 2009 2:05am Mar 11, 2009 2:05am
The erosion of risk appetite on the back of a horrendous Chinese trade data which saw exports plunging 25.7% y/y spooked market investors as they seek the safety of Greenback sending the [NZD/USD] down to an intraday low around the 0.4980 level. However, if the European and US bourses can continue to extend the gains seen in Asia, a recovery towards 0.5045/50 is likely but gains above 0.5080 are not likely unless the European and US stock market can chalk up another round of hefty gains.

[CHINA TRADE DETAILS] China's exports to the EU fell by -30.2% y/y in Feb vs -17.4% y/y in Jan while imports fell by -4.9% y/y in Feb vs -21.5% y/y in Jan. Trade surplus fell to $4.9 bln in Feb vs $11.7 bln in Jan. Exports to US fell by -23.9% y/y in Feb vs -9.8% y/y in Jan while imports fell by -10.6% y/y in Feb vs -29.9% y/y in Jan. Trade surplus with US halved to $6.4 bln in Feb vs $12.3 bln in Jan. Exports to Japan fell by -27.4% y/y in Feb vs -9.0% y/y in Jan while imports fell by -20.4% y/y in Feb vs -43.5% y/y in Jan. Trade balance with Japan swung to deficit of -$2.8 bln in Feb $2 bln in Jan.


Aud may be feeling more pressures from the China's trade data given the Australia-China trade partnership. The [AUD/YEN] dropped from 63.71 to 62.95 before rebounding to the 63.30 level. The decline from the early morning high of 64.07 is 112 points, but the level is still above yesterday's low at 63.22, so steadiness is maintained. The headline pair Aud/Dlr remains flattish from last month, and the cross would not be able to rise much unless the mother ship of the Aud/Dlr can strengthen.
those who can, do. those who cant, talk about those who can
  • #73,847
  • Mar 11, 2009 2:07am Mar 11, 2009 2:07am
Quoting BoredToLoose


I am for real!!

Price stopped where it should!

1.2624 was the Bottom for this drop!
I guess BoredToLoose was right. Did you use the crystal ball that you stole from me?
Collecting pips
  • #73,848
  • Mar 11, 2009 2:08am Mar 11, 2009 2:08am
I am waiting to buy @ 1.2580
or Sell @ 1.2750
  • #73,849
  • Mar 11, 2009 2:09am Mar 11, 2009 2:09am
put another log on fire at 53
those who can, do. those who cant, talk about those who can
  • #73,850
  • Mar 11, 2009 2:09am Mar 11, 2009 2:09am
Quoting NuckingFuts
Same channel.................

http://www.forexfactory.com/attachme...1&d=1236749301
Lol. For me it's too far-fetched. I consider something a bear flag in much steeper down trend.
  • #73,851
  • Mar 11, 2009 2:12am Mar 11, 2009 2:12am
Quoting T.E.Lawrence
Lol. For me it's too far-fetched. I consider something a bear flag in much steeper down trend.
Perhaps you should read up on some basic TA. If it does not take out the high of the move down, it is in-fact a bear flag. I prefer at most a 61.8% retrace, but it can go higher.
  • #73,852
  • Mar 11, 2009 2:15am Mar 11, 2009 2:15am
Quoting T.E.Lawrence
Lol. For me it's too far-fetched. I consider something a bear flag in much steeper down trend.
It's not the size of that pattern that counts, it's the quality that does
  • #73,853
  • Mar 11, 2009 2:16am Mar 11, 2009 2:16am
Quoting NuckingFuts
Perhaps you should read up on some basic TA. If it does not take out the high of the move down, it is in-fact a bear flag. I prefer at most a 61.8% retrace, but it can go higher.
maybe you could post 2 charts describing the correct terminology for us not so well educated folks (mainly myself) which shows the difference between a flag and a penant. I have been told before that what i portray as flags in some cases are pennants and vice versa. Your observations are showing that contradiction so please....take me back to kindergarten basics in pattern recognition with 2 simple charts showing flags/pennats. Now i could google that but thats no fun
Different opinions highly valued, ignorant to slander.
  • #73,854
  • Mar 11, 2009 2:18am Mar 11, 2009 2:18am
[EUROPEAN FX OPEN] A near 6% rally on the DJI has led broader markets to a much more positive assesment. One that for Fx favours the Dollar, and underpins the commodity bloc and EM plays.

[FINANCIALS] may pause for breath in the midst of their latest revival, as Swiss bank [UBS] has upgraded its 2008 net loss to Chf20.9 bn, albeit marginally from Chf19.7 bn previously, but more importantly warned that it remains exposed to markets that are volatile and illiquid. Hence, its business activities and revenue will be at risk for a while yet. The news comes hot on the heels of a completely contradictory upbeat internal report from Citigroup yest, which was a major catalyst for the rebound in financial sector stocks, and bourses overall.
those who can, do. those who cant, talk about those who can
  • #73,855
  • Mar 11, 2009 2:22am Mar 11, 2009 2:22am
Quoting psiholog
maybe you could post 2 charts describing the correct terminology for us not so well educated folks (mainly myself) which shows the difference between a flag and a penant. I have been told before that what i portray as flags in some cases are pennants and vice versa. Your observations are showing that contradiction so please....take me back to kindergarten basics in pattern recognition with 2 simple charts showing flags/pennats. Now i could google that but thats no fun
Flags are a more of a channel (parallel), pennants are more of a triangle/wedge.
  • #73,856
  • Mar 11, 2009 2:25am Mar 11, 2009 2:25am
Quoting NuckingFuts
Flags are a more of a channel (parallel), pennants are more of a triangle/wedge.
oh noes...that means 95% of my posts that showed bear flags were really pennants. sorry for the wrong terminology everyone for the past 6months...ill try to get it right next time
Different opinions highly valued, ignorant to slander.
  • #73,857
  • Mar 11, 2009 2:30am Mar 11, 2009 2:30am
Quoting psiholog
you all know my views by now on eur/usd direction for tonight but you may be wondering why no open positions (had a quick 20pip scalp only off the low). There are 2 reasons for that. 1)Before a big push nowadays in the guestimated direction pa will consolidate either at the high or the low before pa moves off in that direction. Call it the market makers building their positions at levels they consider to be cheap. 2)...We are currently consolidating in what appears to be a bear flag which does suggest a retest of 1.2625 will come before further...
Thank you, Psiholog, for another helpful post. I always enjoy their simplistic elegance.....no indys induced stupor for the truth to fight thru!
  • #73,858
  • Mar 11, 2009 2:30am Mar 11, 2009 2:30am
Quoting psiholog
oh noes...that means 95% of my posts that showed bear flags were really pennants. sorry for the wrong terminology everyone for the past 6months...ill try to get it right next time
Still have the same meaning, we know what you mean

Pennants are less common, I went back over some charts to find a good example but couldn't find any.

I did however find gazillions of parallel channel formations. They are the most common and reliable IMO.
  • #73,859
  • Mar 11, 2009 2:35am Mar 11, 2009 2:35am
Hell of piping.
I think i Just saw my life flashes across my life.

Price made up your *king mind. Stay out of the weekly pivot already
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  • #73,860
  • Mar 11, 2009 2:40am Mar 11, 2009 2:40am
Good Morning/Evening @ all
The best thing that can happen to you is to find out where you're wrong.
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