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  • #73,861
  • Mar 11, 2009 2:47am Mar 11, 2009 2:47am
Quoting Driver55
Good Morning/Evening @ all
Good morning Driver,
do you have any hedge positions set already for today?
  • #73,862
  • Mar 11, 2009 2:49am Mar 11, 2009 2:49am
Quoting david_akc
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
Nice to see a fellow scalper.

Frankly I've never liked stochs - especially their OB & OS indications. Frankly - I've never liked any indicator.
  • #73,863
  • Mar 11, 2009 2:59am Mar 11, 2009 2:59am
Quoting T.E.Lawrence
Nice to see a fellow scalper.

Frankly I've never liked stochs - especially their OB & OS indications. Frankly - I've never liked any indicator.
Thanks I really need that. But I let price go as I can't function properly afterthat even though I know price will go up. Now waiting for London to help push price up.

I think there will be a retracement after this.
Forex Price Action Hacked - Price Action Rockstar
  • #73,864
  • Mar 11, 2009 2:59am Mar 11, 2009 2:59am
Quoting Legio_Ulpia
Good morning Driver,
do you have any hedge positions set already for today?
Ciao Legio,

are in hedging ,only on EURUSD, from yesterday evening at 2708 . Waiting of being a picture of the euro for today.

I just woke up

The best thing that can happen to you is to find out where you're wrong.
  • #73,865
  • Mar 11, 2009 3:02am Mar 11, 2009 3:02am
The channel I posted while ago - I still believe is't valid, so 2657 I've gone long.
  • #73,866
  • Mar 11, 2009 3:03am Mar 11, 2009 3:03am
Quoting Driver55
Ciao Legio,

are in hedging ,only on EURUSD, from yesterday evening at 2708 . Waiting of being a picture of the euro for today.



I just woke up

Just woke up? Lucky you my qorking shift started at 5.30 this morning.
I Have a long position set at 1.2660 with target 1.2750..let's see what happen in the next hours.
Good pippin
  • #73,867
  • Mar 11, 2009 3:10am Mar 11, 2009 3:10am
Quoting Legio_Ulpia
Just woke up? Lucky you my qorking shift started at 5.30 this morning.
I Have a long position set at 1.2660 with target 1.2750..let's see what happen in the next hours.
Good pippin
I'm working too.. when I sleep..
But .. in relation to your position... take a look at 2706.. if we reach that level
The best thing that can happen to you is to find out where you're wrong.
  • #73,868
  • Mar 11, 2009 3:11am Mar 11, 2009 3:11am
Quoting T.E.Lawrence
The channel I posted while ago - I still believe is't valid, so 2657 I've gone long.
you are brave to go long this early..

i am personally long bias today.. but still waiting for a lower price to enter.
  • #73,869
  • Mar 11, 2009 3:11am Mar 11, 2009 3:11am
Anyone else see the W?
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Going to make it big by age 21.
  • #73,870
  • Mar 11, 2009 3:12am Mar 11, 2009 3:12am
A combination of factors helped boost the Dollar overnight and EUR/USD dropped back below 1.2650. A 1.2616 low traded into the European return but the pair has failed to break below the late NY bottom at 1.2612. Bids trail to the figure to keep the downside supported in the short-term, with the attention now turning to the recently released German PPI numbers.
Spot sits just shy of the 50 level as the 1.2% M/M fall for January is digested, with the annualized release falling to +2.0%. The data is well below the -0.1% & +3.4% Y/Y forecasts. German Industrial Order data for January will be released at 11:00 GMT but this is also likely to make for grim reading, with economists looking for a decline of 2.2% into the New Year.
Elsewhere, the Liikanen speech due later in the day in Helsinki is expected to signal the possibility of lower Euro Zone interest rates, with the speaker likely to add his voice to the growing chorus of officials calling for further cuts.
Expect EUR/USD to trade comfortably on a 1.26-handle in the short-term but the pressure remains marginally on the Euro. Any break back into the 1.25s will increase follow-through and speculators could then target a retracement back towards the prior lows in the 1.24s.
  • #73,871
  • Mar 11, 2009 3:13am Mar 11, 2009 3:13am
ah the beauty of double tops and double bottoms. pay attention closely to this for it will blow your mind.

earlier today or yesterday i mentioned a possible W formation with tips of the head at 1.2625. So far it does look like we are forming one....the neckline is at 1.2725 so that would fuel a run up to 1.2825 if it truly develops. Earlier i mentioned a possible W formation every since the china news really with current neckline at 1.2680 which would fuel a run up to the 1.2725 level. Now here is where it gets interesting. For that small W to get completed...it would need to reach the neckline of the larger W with neckline at 1.2725. For the larger W to fully complete...its estimated target would create a double top which could potentially set up an even larger M for the rest of the week. Got it all?..try to...its quite amusing.

Of course that could all be nulled with a break of 1.2625 and my getting stopped out. Note that i have two buy orders but they are really just one (half a position each)..forgot to adjust at the right time =/. In any case...this week eur/usd has been pretty entertaining.

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Different opinions highly valued, ignorant to slander.
  • #73,872
  • Mar 11, 2009 3:18am Mar 11, 2009 3:18am
Quoting psiholog
ah the beauty of double tops and double bottoms. pay attention closely to this for it will blow your mind.

earlier today or yesterday i mentioned a possible W formation with tips of the head at 1.2625. So far it does look like we are forming one....the neckline is at 1.2725 so that would fuel a run up to 1.2825 if it truly develops. Earlier i mentioned a possible W formation every since the china news really with current neckline at 1.2680 which would fuel a run up to the 1.2725 level. Now here is where it gets interesting. For that small W to...
I like the way you think...look above at my chart as well.
Going to make it big by age 21.
  • #73,873
  • Mar 11, 2009 3:18am Mar 11, 2009 3:18am
Quoting dstryr
Anyone else see the W?
It's not W, stupid! It's an inverted M!
  • #73,874
  • Mar 11, 2009 3:19am Mar 11, 2009 3:19am
Bear Flag is a sharp, strong volume decline, several days of sideways to higher price action on much weaker volume followed by a second, sharp decline to new lows on strong volume.

The technical target for a bear flag pattern is derived by subtracting the height of the flag pole from the eventual breakout level at point (e).

Even though flags and pennants are common formations, identification guidelines should not be taken lightly. It is important that flags and pennants are preceded by a sharp advance or decline. Without a sharp move, the reliability of the formation becomes questionable and trading could carry added risk. Look for volume confirmation on the initial move, consolidation and resumption to augment the robustness of pattern identification.


http://chart-patterns.netfirms.com/p...bear_flag2.png

those who can, do. those who cant, talk about those who can
  • #73,875
  • Mar 11, 2009 3:22am Mar 11, 2009 3:22am
Quoting T.E.Lawrence
It's not W, stupid! It's an inverted M!
Watch 2680 very carefully and 2725 as well. Above 2725 say hello to 2815
Going to make it big by age 21.
  • #73,876
  • Mar 11, 2009 3:24am Mar 11, 2009 3:24am
Quoting gatorinla
Bear Flag is a sharp, strong volume decline, several days of sideways to higher price action on much weaker volume followed by a second, sharp decline to new lows on strong volume.

The technical target for a bear flag pattern is derived by subtracting the height of the flag pole from the eventual breakout level at point (e).

Even though flags and pennants are common formations, identification guidelines should not be taken lightly. It is important that flags and pennants are preceded by a sharp advance...
So I was right after all. But how do you get volume in Forex - or do you use other market volume like futures (I've heard some folks are doing that).
  • #73,877
  • Mar 11, 2009 3:26am Mar 11, 2009 3:26am
Quoting dstryr
I like the way you think...look above at my chart as well.
yep there have been a gazillion double tops and double bottoms in recent months, most of them on the shorter timeframes with a range from start to completion less then 100 pips. This week though..starting late last week we have seen quite a few significant W with a range much higher then 100pips. I didnt even mention in my previous post the biggest W on the hourly/4h charts that started late last week and would complete around 1.2865 or so.

I recommend to keep looking for double bottoms/tops....the most reliable pattern on eur/usd for a long time which is why if there will be a reversal to the downside it is only logical to form an M first or double top around the 1.2825 area

Sidenote:woot first take profit level hit
Different opinions highly valued, ignorant to slander.
  • #73,878
  • Mar 11, 2009 3:26am Mar 11, 2009 3:26am
hi guys
need to buy
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  • #73,879
  • Mar 11, 2009 3:27am Mar 11, 2009 3:27am
Now we are seeing something a little different on the lowers. Bullish Divergence.

J
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  • #73,880
  • Mar 11, 2009 3:28am Mar 11, 2009 3:28am
huh?
those who can, do. those who cant, talk about those who can
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