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  • #82,301
  • Apr 1, 2009 5:29pm Apr 1, 2009 5:29pm
I think people is very scared and all kind of conspiracy theories can arrive.... but really.... this crisis is not enough yet to fusion US Canada and Mexico... That sounds to me very crazy. Mexico would like to be living like US... but US like to be living like Canada...
  • #82,302
  • Apr 1, 2009 5:31pm Apr 1, 2009 5:31pm
Quoting rainingpips
I don't use EW, as I think it conflicts with pivots and price levels too much to use it as a basis to open positions.
If you dont like EW , you should try Neowave then, and another thing too, if you dont understand fundamental or news speculation/interpretation it will be difficult for you later when you will be live.

hey bulls give me some spikes to short, don't be afraid, your time will come.

Who is this Elliot Wave ?
  • #82,303
  • Apr 1, 2009 5:31pm Apr 1, 2009 5:31pm
Quoting Trading Cat
Hey Ak whats wrong? how come so angry?
Angry?

Not angry, just trying to stay with the flow here... I'm a "get along" kinda guy.

Not.

But we'll leave that for another Cycle.
FUBAR...
  • #82,304
  • Apr 1, 2009 5:36pm Apr 1, 2009 5:36pm
Quoting rainingpips
I don't use EW...
I don't either altho the concept is fascinating, but there are some traders here that I have SERIOUS respect for and they seem to use them with good effect or at least as a tool in their Box.

No skin off my nose if they feel it's worth their time to study and implement them or anything else they see fit.
FUBAR...
  • #82,305
  • Apr 1, 2009 5:51pm Apr 1, 2009 5:51pm
Quoting ak4x
I don't either altho the concept is fascinating, but there are some traders here that I have SERIOUS respect for and they seem to use them with good effect or at least as a tool in their Box.

No skin off my nose if they feel it's worth their time to study and implement them or anything else they see fit.

There are good traders out there with make a living off this from Astrology, EW and all the rest of it merely acts as a way to confuse the concious brain and let there subconcous win through.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,306
  • Apr 1, 2009 5:51pm Apr 1, 2009 5:51pm
Quoting ak4x
I don't either altho the concept is fascinating, but there are some traders here that I have SERIOUS respect for and they seem to use them with good effect or at least as a tool in their Box.

No skin off my nose if they feel it's worth their time to study and implement them or anything else they see fit.
Yeah, I have a fellow economic student friend that swears by Elliot wave, but I trade with other indicators that work for me; so I really don't need EW, might be interesting as a supplement.
  • #82,307
  • Apr 1, 2009 6:17pm Apr 1, 2009 6:17pm
Quoting rainingpips
As someone who has watched this film already 3 times, I really encourage anyone on the fence deciding whether or not to watch it to do so....
Could you tell whomever is controlling the E/U to pick a fukin direction soon?

Preferably south.

Unbiased.... oh stop... howling.
  • #82,308
  • Apr 1, 2009 6:25pm Apr 1, 2009 6:25pm
classic triangle fashion...almost flat line at the end before a breakout will occur. it is times like this that it is important to remember the concept of "the calm before the storm" as just when the market seems so predictable..those violent volatile movements will happen..most likely set on by g-20 and ecb rate decisions.

i also notice there are 20members and 22 guests currently on the thread. BRILLIANT on the part of those who are away (as long as they hold no open positions and are away from their computer)...i just hope they are smart enough to stay away starting roughly 12hours from now when we may see 100pip swings in minutes.

The usual reaction at such times is 100members...100+ guests and many asking...what just happened....i lost a *&#load of pips and i have no idea why (so hoping maybe this time around....not as many fall in the chaos that we KNOW will happen real soon)

anyways...heres the triangle yet again...other support/resistance levels come back into play as soon as its broken.

and btw...i live forex at this time or i would have stayed away from the markets all week..

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Different opinions highly valued, ignorant to slander.
  • #82,309
  • Apr 1, 2009 6:29pm Apr 1, 2009 6:29pm
Quoting psiholog
classic triangle fashion...almost flat line at the end before a breakout will occur. it is times like this that it is important to remember the concept of "the calm before the storm" as just when the market seems so predictable..those violent volatile movements will happen..most likely set on by g-20 and ecb rate decisions.

i also notice there are 20members and 22 guests currently on the thread. BRILLIANT on the part of those who are away (as long as they hold no open positions and are away from their computer)...i just hope they are smart enough...

So there goes my winning streak, 5 seconds after I get in account be gone LOL seen it before I'll see it again LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,310
  • Apr 1, 2009 6:33pm Apr 1, 2009 6:33pm
Hey I am one of the stay aways. Cutover yesterday night and said to myself no more trades this week

BTW I love your analysis. Keep up the good work.

Quoting psiholog
classic triangle fashion...almost flat line at the end before a breakout will occur. it is times like this that it is important to remember the concept of "the calm before the storm" as just when the market seems so predictable..those violent volatile movements will happen..most likely set on by g-20 and ecb rate decisions.

i also notice there are 20members and 22 guests currently on the thread. BRILLIANT on the part of those who are away (as long as they hold no open positions and are away from their computer)...i just hope they are smart enough...
  • #82,311
  • Apr 1, 2009 6:33pm Apr 1, 2009 6:33pm
I do agree and concur with your logic, the market is being pulled into a tight range due to indecision, Lines are plotted on my chart I'll watch for a move outside of the triangle and then jump on the direction and ride it.

* Maybe *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #82,312
  • Apr 1, 2009 6:40pm Apr 1, 2009 6:40pm
Hammer forming on the 4 hr. Up up & away
  • #82,313
  • Apr 1, 2009 6:52pm Apr 1, 2009 6:52pm
g20.. ecb min bid rate etc.. tons of impt news coming up.. all pls trade safely!
  • #82,314
  • Apr 1, 2009 6:57pm Apr 1, 2009 6:57pm
so far since 5pm EST... price broke south from the CP to the DP and little farther with a nice bounce off the xx20 psych line.

Back to the CP where price opened at 5pm and I'm still long from 3210 and waiting for the Pop.

2h 50ema at 3285ish for first target. I have a couple MA's I'll be watching closely at 3380/3400 (purple and aqua dotted lines) and they converge with the top of the middle R zone as well right now. The Red TL (low confidence actually) is a couple dozen pips higher at 34ooish. Above that I would look for 3660 again for a Rematch, not likely this week I'm thinking, but Strange Forces are at work, and I'm not ruling anything out.

So anywhere in there would be a good haul if the Bulls can scare up some momentum. Lacking that tho, more of the same....

1hr shows the key resistance that must break first, otherwise forget it.
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FUBAR...
  • #82,315
  • Apr 1, 2009 6:59pm Apr 1, 2009 6:59pm
Quoting psiholog
classic triangle fashion...almost flat line at the end before a breakout will occur. it is times like this that it is important to remember the concept of "the calm before the storm" as just when the market seems so predictable..those violent volatile movements will happen..most likely set on by g-20 and ecb rate decisions....
Thank you for your analysis, which I find always to be one of the best here. Indeed I am sitting this one out for the time being, although I might put a long and a short order in as the end of the triangle appears. Meantime I am working with USD/JPY and GBP/USD
Doing what you like is Freedom. Liking what you do is Happiness.
  • #82,316
  • Apr 1, 2009 7:00pm Apr 1, 2009 7:00pm
I feel deep in my heart that we're going to swaaaaaang way down low! Barney just called Jay (if you're here), he said to short the Euro, not favors this time.
  • #82,317
  • Apr 1, 2009 7:01pm Apr 1, 2009 7:01pm
DX DAILY and WEEKLY Charts...

Looking at the daily chart. We saw a red candle yesterday. Today we have a doji (indecision) candle. We broke above yesterady's high only to close below it today. IMO the bears are still in the driver's seat till we can see a break of 86.12.

The WEEKLY chart remains bullish till we can see a break of 82.63.

NOTE: We have G20 meeting going on today with EUR "minimum bid rate" and US "unemplyment claims" coming out today. Should see some action especially as news from G20 meeting start coming out.

TODAY is the day to TRADE WITH STOPS. Unexpected news from the G20 meeting can really move the market!
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  • #82,318
  • Apr 1, 2009 7:20pm Apr 1, 2009 7:20pm
Quoting candlesticks

TODAY is the day to TRADE WITH STOPS. Unexpected news from the G20 meeting can really move the market!

Yes, and the euro rate possibly changes to morrow too. Yes, a day to go to the beach and turn off trade station....

GL all to morrow, i will take that day off and watch from a demo. Way too risky for me.

regards from the fortunates isles
  • #82,319
  • Apr 1, 2009 7:25pm Apr 1, 2009 7:25pm
TODAY IS THE DAY WHEN IMF ASSERTS over American Banks and regulation WHILE NOBAMA blushes with Gordon Brown. BE VERY CAREFUL, IMHO, USD DROPS LIKE THERE IS NO TOMORROW TONIGHT.



Quoting jackdan
Yes, and the euro rate possibly changes to morrow too. Yes, a day to go to the beach and turn off trade station....

GL all to morrow, i will take that day off and watch from a demo. Way too risky for me.

regards from the fortunates isles
  • #82,320
  • Edited 7:35pm Apr 1, 2009 7:31pm | Edited 7:35pm
Quoting Sandhu
TODAY IS THE DAY WHEN IMF ASSERTS over American Banks and regulation WHILE NOBAMA blushes with Gordon Brown. BE VERY CAREFUL, IMHO, USD DROPS LIKE THERE IS NO TOMORROW TONIGHT.
You may be perfectly right. But personally, I'm still sitting on the fence.

I see a short opportunity with legs as nice as Kathleen Turner's.

But it may be the goggles so I'm keeping a very very tight S/L on that one, ready to reverse if need be.

Edit: Forgot to mention I see the legs on the weekly frame
Not all sins are created equal
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