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  • #75,341
  • Mar 13, 2009 12:08pm Mar 13, 2009 12:08pm
I'm also thinking about 1,3 area, because of very similar wave structure then previous. But now there is irregular correction, so it's very difficult to make a good entry...
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  • #75,342
  • Mar 13, 2009 12:11pm Mar 13, 2009 12:11pm
Quoting Passholder
I would even go as far as removing the 1.2890 blue line on yoru chart to use the 1.2865 line as the support. It was a prior tripple top that seems to be holding here.
the thought has crossed my mind but i have decided to keep it. since it was previous strong support of the range...technically it should be strong resistance now. This range we are in is very small but the first 15min candle we close above that 1.2890 level will indicate to me a retest of the highs and i keep that blue trendline as a reminder.

edit: like right now for example..we closed above it. still looking at pa..there was no strength whatsoever behind this last push up (my gut feeling and psychology of the markets combined) which makes me have a conflicting bias about whats next...flat on the sidelines is best of course
Different opinions highly valued, ignorant to slander.
  • #75,343
  • Mar 13, 2009 12:13pm Mar 13, 2009 12:13pm
Downtrending nicely of the 5M 24sma line, made a few shorts for scalps off this so far

GBP's sticking over it's 24hour SMA line keeping this market from tumbling sadly.


Not 1 losing trade this week, not even a trade that got more than 8pips into the red, alot of watching and waiting and damned hard work is wears me out, hoping trading smart comes more natural in time.

It'll all be worth it in the end IF I crack it though!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #75,344
  • Mar 13, 2009 12:15pm Mar 13, 2009 12:15pm
In addition to my previous post you have to consider position size and trading strategy. I have entered longs already but pullback from this level will not surprise (or bother) me, as it only serves to better my entry points for any upward movement that is likely to occur. In the slim case that we don't see any higher pricing from today, we have strong support levels on the way down at which we can enter strong and recoup the negative pips from our current entries. At worst, we break even or make a few pips. At best, we have hit a double bottom and positions taken now will pay our salary for the year.
  • #75,345
  • Mar 13, 2009 12:15pm Mar 13, 2009 12:15pm
For those who are flat ... this is the right time to short... at 2895
The best thing that can happen to you is to find out where you're wrong.
  • #75,346
  • Mar 13, 2009 12:20pm Mar 13, 2009 12:20pm
Quoting Turveyd

Not 1 losing trade this week, not even a trade that got more than 8pips into the red

Congrats, that is awesome.
  • #75,347
  • Mar 13, 2009 12:21pm Mar 13, 2009 12:21pm
Quoting Driver55
For those who are flat ... this is the right time to short... at 2895
i am a fan of your crazy methods driver (hedging included) but what makes you think that after almost 24 hours of consolidation at the high this particular instant in time is when we break down?..just curious thats all
Different opinions highly valued, ignorant to slander.
  • #75,348
  • Mar 13, 2009 12:24pm Mar 13, 2009 12:24pm
Quoting Driver55
For those who are flat ... this is the right time to short... at 2895
1.2940 will be my next short entry.
  • #75,349
  • Mar 13, 2009 12:26pm Mar 13, 2009 12:26pm
Quoting Driver55
For those who are flat ... this is the right time to short... at 2895
and what`s your target?
  • #75,350
  • Mar 13, 2009 12:29pm Mar 13, 2009 12:29pm
Quoting psiholog
i am a fan of your crazy methods driver (hedging included) but what makes you think that after almost 24 hours of consolidation at the high this particular instant in time is when we break down?..just curious thats all
psi,

the same thing that made me decide to go short at 2935 ... we are in wave 3 and, even if it is Friday, I expect at least 2835.

The best thing that can happen to you is to find out where you're wrong.
  • #75,351
  • Mar 13, 2009 12:29pm Mar 13, 2009 12:29pm
u folks still trading? normally till wat time? its fri !
  • #75,352
  • Mar 13, 2009 12:35pm Mar 13, 2009 12:35pm
D55, if this call pans out, then I am personally going to Italy and stealing that "red phone" from you... Or better yet, that "crystal ball" .....
  • #75,353
  • Mar 13, 2009 12:37pm Mar 13, 2009 12:37pm
Quoting Driver55
psi,

the same thing that made me decide to go short at 2935 ... we are in wave 3 and, even if it is Friday, I expect at least 2835.

i too have a hanging half a position short since 1.2916 with 50pip stop loss since before i went to sleep over 7 hours ago thinking this will retrace at least partially before the market closes for the weekend....of course for different reasons then yours.

can you post a chart of this "wave 3"? sounds like elliot waves
Different opinions highly valued, ignorant to slander.
  • #75,354
  • Mar 13, 2009 12:38pm Mar 13, 2009 12:38pm
let's see if this dog can hunt...
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FUBAR...
  • #75,355
  • Mar 13, 2009 12:44pm Mar 13, 2009 12:44pm
Quoting psiholog
i too have a hanging half a position short since 1.2916 with 50pip stop loss since before i went to sleep over 7 hours ago thinking this will retrace at least partially before the market closes for the weekend....of course for different reasons then yours.

can you post a chart of this "wave 3"? sounds like elliot waves
you can see this even on this 15Min chart, but even on a 1H chart

EDIT: The real problem is a open on a 1H chart below 2876
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The best thing that can happen to you is to find out where you're wrong.
  • #75,356
  • Mar 13, 2009 12:49pm Mar 13, 2009 12:49pm
Letī's see if at 14.00h .. we open below 2876.. itīs important for the acceleration
The best thing that can happen to you is to find out where you're wrong.
  • #75,357
  • Mar 13, 2009 12:50pm Mar 13, 2009 12:50pm
Quoting miketodd
D55, if this call pans out, then I am personally going to Italy and stealing that "red phone" from you... Or better yet, that "crystal ball" .....
its not about red phone or crystal ball... its all about 8 monitors and laptop...if you push hard, you can stack them in 3 columns&3 rows... and after that you can have desent look at weekly chart...:-)
driver knows what he is doing
p.s. can anybody do me favour pls?! just tell me to turn off pc...thanks!...I will...
  • #75,358
  • Mar 13, 2009 12:52pm Mar 13, 2009 12:52pm
Quoting F.x.
Congrats, that is awesome.
I'll give it all back + MORE on my next stupid trade don't worry


Trying to only trade with the PA / Trend and the second it turns against me OUT, rather than hold it till my account is slaughtered.

Then all I've got to do is improve my skill at holding for more profit ie 100+ pip moves without ruining the above teachings to make it all worth while.


Trade is not easy is it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #75,359
  • Mar 13, 2009 12:52pm Mar 13, 2009 12:52pm
Don't forget that today's Friday 13 ... we're going to 1.305x
  • #75,360
  • Mar 13, 2009 12:56pm Mar 13, 2009 12:56pm
Quoting Driver55
you can see this even on this 15Min chart, but even on a 1H chart

EDIT: The real problem is a open on a 1H chart below 2876
wow...most impressive. while i dont understand most of your indicators or would ever use them...i see you got forex trading down to an art form! 20years + of experiences does that.... one final question (if you dont mind)

all expectations and indicators aside...what motivates you so strongly to believe an hourly close below 1.2876 will fuel the move south? In other words, how do you determine this value as i see it nowhere on your chart
Different opinions highly valued, ignorant to slander.
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