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  • #9,721
  • Mar 13, 2009 5:08am Mar 13, 2009 5:08am
Quoting Grath
OK. I didn't open a short because I was uncertain what the PA was telling me - would you have gone short knowing what you knew about 1.4042 and seeing that price action?

( I know it turned from higher up a bit later, but is there anything in the PA that says I was right to sit on my hands at that point?)
As posted earlier my range of interest was 14042-14100 however the speed of the move up is also a crucial part of PA so that in itself should tell you that the front end of this would be breached.

Fast moves up can be advantageous if candle closes are at significant s/r especially 4hr closes.
  • #9,722
  • Mar 13, 2009 5:21am Mar 13, 2009 5:21am
Quoting RedCabbage
As posted earlier my range of interest was 14042-14100 however the speed of the move up is also a crucial part of PA so that in itself should tell you that the front end of this would be breached.

Fast moves up can be advantageous if candle closes are at significant s/r especially 4hr closes.
Ah-hah! The light begins to dawn - perhaps someone lit a candle. Thanks for that insight.
  • #9,723
  • Mar 13, 2009 6:16am Mar 13, 2009 6:16am
would you say we are looking at a rising wedge on the pound. I have a real feeling thiis is going to continue up. I sold out cheap earlier unfortunately. Everything is pretty slow at the moment so I am not going to hang around here much longer. We have a footy game on tv here so when it ends, I am off to bed. Have a good weekend everyone. toodles
  • #9,724
  • Mar 13, 2009 6:23am Mar 13, 2009 6:23am
Quoting Tori
would you say we are looking at a rising wedge on the pound. I have a real feeling thiis is going to continue up. I sold out cheap earlier unfortunately. Everything is pretty slow at the moment so I am not going to hang around here much longer. We have a footy game on tv here so when it ends, I am off to bed. Have a good weekend everyone. toodles
I would like to see 14200 for a short. We'll see.

I try to finish early on a Friday and on a high whenever possible.

Have a good weekend!
  • #9,725
  • Edited 2:11pm Mar 13, 2009 2:07pm | Edited 2:11pm
Going to spend some time with my grand daughter

Thanks for everyones input, charts ,and general BS

MIC

PS were thankful for the rain here in Texas
  • #9,726
  • Mar 16, 2009 1:06am Mar 16, 2009 1:06am
Hi,

looking for a break out on this pair. Could be a ways off but orders are in.
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  • #9,727
  • Mar 16, 2009 2:08am Mar 16, 2009 2:08am
GU sell at 4068, so far not so good
  • #9,728
  • Mar 16, 2009 2:23am Mar 16, 2009 2:23am
What's on the menu libb?
  • #9,729
  • Mar 16, 2009 2:44am Mar 16, 2009 2:44am
Quoting PipDiablo
GU sell at 4068, so far not so good
out -23
  • #9,730
  • Mar 16, 2009 2:46am Mar 16, 2009 2:46am
Quoting PipDiablo
GU sell at 4068, so far not so good
I think that is a dangerous placer to sell. there is a lot of buy action over the 041 line going back, and the candles came up to line and broke through. I have scored a few so far on the way up. am now waiting for it to come down to 045-50 area and then buy again. I will not be selling this pair. usd across all pairs losing a little ground so that has to be looked at too.Am looking at 177 for target.
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  • #9,731
  • Mar 16, 2009 3:31am Mar 16, 2009 3:31am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I'm actually waiting to sell cable in the 4220 through 4290's.
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"Wishful thinking dies hard." Igor T.
  • #9,732
  • Mar 16, 2009 3:44am Mar 16, 2009 3:44am
If anyone was on that pound trade up to 177 line I posted, it is looking a little shaky. I will wait for it to come back down, then buy again. will not sell from there because it went up pretty strongly, so am going to try to apply patience.
  • #9,733
  • Mar 16, 2009 3:47am Mar 16, 2009 3:47am
eurusd. looking to buy off the line or close to.
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  • #9,734
  • Mar 16, 2009 3:53am Mar 16, 2009 3:53am
I like the look of 140 in GBPJPY.
  • #9,735
  • Mar 16, 2009 3:55am Mar 16, 2009 3:55am
1.3079 is my target for the euro and am in there. my only other interest is eurjpy and only if it comes down near 126. Of course if the pound drops back down I will look at that but am happy with my trade on that. I am not posting anymore now as I will sit back and listen to every one elses comments. toodles
  • #9,736
  • Edited 4:18am Mar 16, 2009 4:15am | Edited 4:18am
Quoting Tori
eurusd. looking to buy off the line or close to.
Attachment
whoops- you just answered my question.
  • #9,737
  • Mar 16, 2009 4:19am Mar 16, 2009 4:19am
Quoting Tori
eurusd. looking to buy off the line or close to.
Attachment
I'm in.
  • #9,738
  • Mar 16, 2009 4:36am Mar 16, 2009 4:36am
Quoting RedCabbage
I like the look of 140 in GBPJPY.
I was thinking of waiting for 141.50 area. I can't find much strength for 140.00 - where should I be looking? (Apart from 6th March.)
  • #9,739
  • Mar 16, 2009 4:46am Mar 16, 2009 4:46am
Quoting Grath
I was thinking of waiting for 141.50 area. I can't find much strength for 140.00 - where should I be looking? (Apart from 6th March.)
Yes 14150 is an obvious high. Look at a 4hr chart and plot a line at 140, you should see the s/r.
  • #9,740
  • Mar 16, 2009 4:46am Mar 16, 2009 4:46am
Quoting PipDiablo
I'm in.
I got in a bit too early (1.2967) and the PA since then is not encouraging. My stop is at 1.2943 - not sure if that's going to be low enough.
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