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  • #80,061
  • Mar 25, 2009 11:10pm Mar 25, 2009 11:10pm
Quoting rainingpips
Where were you guys long? I'm long @ 1.3590. Are you guys over leveraged to where you can't take a 50 pip hit?
Too many are.
Not all sins are created equal
  • #80,062
  • Mar 25, 2009 11:12pm Mar 25, 2009 11:12pm
Quoting rainingpips
Where were you guys long? I'm long @ 1.3590. Are you guys over leveraged to where you can't take a 50 pip hit?
In asian session 50 pips is a trend/ in NY is a tick
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #80,063
  • Mar 25, 2009 11:14pm Mar 25, 2009 11:14pm
Quoting ak4x
zoom out to the new 1hr and look again...
sitting on the fib too... it might get interesting..
those who can, do. those who cant, talk about those who can
  • #80,064
  • Mar 25, 2009 11:17pm Mar 25, 2009 11:17pm
Quoting Chicky
Why should we give even five?
Well it's very difficult to exactly pick tops and bottoms (regardless of whatever time frame you're trading on), so I think it's wise to allow an appropriate margin so that your position may actualize itself.
  • #80,065
  • Mar 25, 2009 11:18pm Mar 25, 2009 11:18pm
Quoting vulture
In asian session 50 pips is a trend/ in NY is a tick
Brilliant.

And low volatility is the only advantage of asian session.
The Thief of Wall Street
  • #80,066
  • Mar 25, 2009 11:18pm Mar 25, 2009 11:18pm
Quoting ak4x
zoom out to the new 1hr and look again...
Did just that what I see is a M, is that what you meant?
Trade on your own risk Plan your trade&trade your plan dont be a
  • #80,067
  • Edited 11:31pm Mar 25, 2009 11:21pm | Edited 11:31pm
Quoting rainingpips
Well it's very difficult to exactly pick tops and bottoms (regardless of whatever time frame you're trading on), so I think it's wise to allow an appropriate margin so that your position may actualize itself.
I tend not to pick tops and bottom, but peaks and valleys, and there is wide difference between the two. Later is low risk.

Ps. Please note pa has broken bottom of IH channel. I have three indicators suggesting a downward move. Worth taking a risk.

ps2 - Stoppedout at loss. Out for now.
The Thief of Wall Street
  • #80,068
  • Mar 25, 2009 11:24pm Mar 25, 2009 11:24pm
Quoting rainingpips
Well it's very difficult to exactly pick tops and bottoms (regardless of whatever time frame you're trading on), so I think it's wise to allow an appropriate margin so that your position may actualize itself.

I always thought that .... then i started trading with VSA ... tom williams master the market. Now it is fairly easy to pick tops and bottoms when the volume tells you to
Blogging daily now at www.volume.zone
  • #80,069
  • Mar 25, 2009 11:28pm Mar 25, 2009 11:28pm
Quoting ak4x
zoom out to the new 1hr and look again...
not shure if im seeing what you are.. but if you saying bull bemack said after 6 time periods its a trend..and its 14 now... if your saying bear i see that too... then it should be a 80 pip move.. and puts us between 3455/80 if it happens
those who can, do. those who cant, talk about those who can
  • #80,070
  • Mar 25, 2009 11:41pm Mar 25, 2009 11:41pm
Quoting malcolmb14
I always thought that .... then i started trading with VSA ... tom williams master the market. Now it is fairly easy to pick tops and bottoms when the volume tells you to
may i ask you , what anonymous broker you use , that you trust their volume so much ?
  • #80,071
  • Mar 25, 2009 11:43pm Mar 25, 2009 11:43pm
Quoting Chicky
Just lost my day's profit on this move. Re-entered with heavy shorts once again. But its just me and I am a gambler no trader. SL =1.3580, tp=yet to decide
Its not you today, it EU. Many people having problems.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #80,072
  • Mar 25, 2009 11:44pm Mar 25, 2009 11:44pm
Quoting arthurb
may i ask you , what anonymous broker you use , that you trust their volume so much ?

esignal gtis feed 300 sources .. the volume is tick ..... trust me I was suspicious to begin with .... been using VSA 10 months now .... really blows my mind. There is a thread on here run by a guy called shamus.
Blogging daily now at www.volume.zone
  • #80,073
  • Mar 25, 2009 11:44pm Mar 25, 2009 11:44pm
Time to re-enter, with one full position.
The Thief of Wall Street
  • #80,074
  • Mar 25, 2009 11:44pm Mar 25, 2009 11:44pm
Quoting gatorinla
sitting on the fib too... it might get interesting..
uh huh...

Just remember the old saw about confirming direction on the next higher TF... take into account proximity to Important S/R, and that might save some pain.

Here's a 1 hr to ogle...

Blue circles = those pesky buyers that keep coming in a'rd 35oo...

Blue bar = 62% fibo sitting EXACTLY at Long Term S/R (3660), make it 20-40 pips wide if you like, but we're still on the North side of it for almost 12 hrs now...
Attached Image
FUBAR...
  • #80,075
  • Mar 25, 2009 11:47pm Mar 25, 2009 11:47pm
Quoting KillerWhale
Its not you today, it EU. Many people having problems.

eu seems bull flag to me on a 60 min chart . Other than the daily indies being really overbought , the 4 hour has room to go up now for may be a break out top of flag . If this happens 1.3850 is target as this is 2 x pivot lows on the daily chart

rsx is bright green on 4 hour saying that rsx is above its 2 sma and the 14 / 8 / 4 moving averages are in a bull stack . So for me if I traded the eu it would be buy the dips on a 15 min

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  • #80,076
  • Edited 11:51pm Mar 25, 2009 11:50pm | Edited 11:51pm
Quoting malcolmb14
esignal gtis feed 300 sources .. the volume is tick ..... trust me I was suspicious to begin with .... been using VSA 10 months now .... really blows my mind. There is a thread on here run by a guy called shamus.
esignal , well done friend , i was really getiing tired of all those MT4 thinggys here

but i am still having good results with futures myself.
finally a real trader in this thread
  • #80,077
  • Mar 25, 2009 11:54pm Mar 25, 2009 11:54pm
Quoting gatorinla
trying to get another tool in my belt.. thanxs
Let me share with all some of my understandings on flag, pennant, channel, tube,gutter, tunnel whatever....bull/bear flag or whatever remains at best a guesswork. Now the reason someone think it is so is most probably bias cos he is either long or short on that trade( funny but interesting how nature make us to see the things that we want to see). All consolidations/rangey PA must either be in those modes and cannot be anything else. You will do well to use another indicator/s to look for stalling/exhaustion/failure/reversal of a particular PA unless if you only look for some quick scalp. Even if you are scalping you have to know what is the prevailing trend within the current trend (confusing ? well it simply means at any particular time, is price climbing or declining at that very moment that you want to take up a trade using the stalling/reversal/whatever indicator/s. as a guide) Also such price patterns are less reliable in shorter TF. Intraday trade should use at least a 30-240 min TF for minor/major support/resistant levels. Remember all price actions is a process or a journey which have to be fully played out in order to start another process/journey. Price that spike 200pips and come down very quickly 150pips is quite common process lately becos of jitteriness with key fundamental isssues. But no matter what, PA needs to complete the process once triggered before another process/journey can begin. This is called orderly randomness. I really hope I dont sound preachy or condescending but it is the basics that one needs to know in order to survive in this very easily complicating business of forex trading let alone profit from it.

I know becos my earlier learning curve is unforgettable and will forever remains in my mind to the end. Those who can see the merits of this post need to strive even harder in order to finally SEE it. AND I wont be posting again on this kind of contents lest I get banned from this forum. Too many unknowns out there and watching.

Really trying to help....I hope
  • #80,078
  • Mar 26, 2009 12:00am Mar 26, 2009 12:00am
Quoting ak4x
uh huh...

Just remember the old saw about confirming direction on the next higher TF... take into account proximity to Important S/R, and that might save some pain.

Here's a 1 hr to ogle...

Blue circles = those pesky buyers that keep coming in a'rd 35oo...

Blue bar = 62% fibo sitting EXACTLY at Long Term S/R (3660), make it 20-40 pips wide if you like, but we're still on the North side of it for almost 12 hrs now...
gonna put that bar count to the test soon..its a double headed nickle..david versus goliath
those who can, do. those who cant, talk about those who can
  • #80,079
  • Mar 26, 2009 12:07am Mar 26, 2009 12:07am
Quoting Trading Cat
Did just that what I see is a M , is that what you meant?
If you mean like a "letter M" then no... I don't follow those kinds of things on low TF's ((or higher ones either if truth be known)) when price has been ranging in one step or another for days... you can probably find every letter of the alphabet and several body parts like heads, shoulders, necks, and more in there if you stare long enough.

In any event, the little I do understand of that sort of thing is that those are reversal or continuation patterns. My question here has always been "When price has been ranging for many hours in a 15m channel, where is is it going to reverse or continue to?" Granted, it needs to break out, but that calls for other things and in the right context.

My point is simply the rule of thumb that a lower TF signal should be confirmed on a higher one. I often trade a 1m chart but only in combo with a 2/3/and 6m chart.

Short version... using Bemacs 6 bar rule, that gives you 1.5 hours on the 15m chart. Put like that, would you normally expect a longer TF "reversal" or "continuation" pattern to form, confirm, and trigger all in 1.5 hours?

You've got to keep your TF's relative to things. There's been lots of real exciting talk here in days past about head and shoulders forming on a 5m chart inside a 40 pip channel that has endured for many hours, or an 80 pip channel for days... you get the idea. No Such Thing.

The zoom out thing was to look at the 1hr candle that had just closed 4minutes earlier, and determine if you thought that was a bearish candle. It didn't look like one to me... hope that helps.
FUBAR...
  • #80,080
  • Mar 26, 2009 12:07am Mar 26, 2009 12:07am
small spread eu you can hop in take 15 - 50 pip with little draw down when you understand what you are looking at

here is eu 5 min I hoped in sell 1.3575 ,

note all low volume on green bars highlighterd .... that is no demand / interest form the buyers. In US session I have often seen these kind of tops drop 100 pips or more.

I am a gj trader due to the higher volatility ..... and often hit these kind of set ups

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