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  • #85,921
  • Apr 15, 2009 9:29am Apr 15, 2009 9:29am
Too late already long....down at 1.3167....I am just trying to figure out where this thing wants to stop moving up...so I can get out and then get back long when I think its done running down....again...
  • #85,922
  • Apr 15, 2009 9:30am Apr 15, 2009 9:30am
Quoting BoredToLoose
It is very hard to find out some levels for today.
I have closed my big short at 1.3177. + 50 pips, I had this trade since Monday.

I continue to see Down pressure, but as we could see about later PA, it can do very strange things.
After 1.3255 cross I was waiting to see if 1.3377 could be broken, and it was but not consistently, then 1.3411 was my last level, it was there then it would kill some of my shorts, see for some time PA after that and start thinking about hedging.
At this point I am looking My Daily Chart and we can see for next...
I've been short since Monday 13th 21:45pm at 1.3365, I have taken profits and am still in. As you say, levels are a little difficult to guage, but there is a bit more clarity on the Daily Chart, and I read that price should get down to 1.3045 (not necessarily today), where it will meet resistance. After that ??????(Although it has proved it is able to go down further).
Good Trading. (keep it simple).
  • #85,923
  • Apr 15, 2009 9:42am Apr 15, 2009 9:42am
Quoting Robby
Too late already long....down at 1.3167....I am just trying to figure out where this thing wants to stop moving up...so I can get out and then get back long when I think its done running down....again...
hard to tell, but im still targetting 1.2960s.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #85,924
  • Apr 15, 2009 9:43am Apr 15, 2009 9:43am
Quoting Jasper
As you say, levels are a little difficult to guage, but there is a bit more clarity on the Daily Chart, and I read that price should get down to 1.3045 (not necessarily today), where it will meet resistance. After that ??????(Although it has proved it is able to go down further).
The 50 SMA has acted as a strong support in the daily chart lately, with price bouncing seeveral times, I think a clean break below should take us to the 1.30's, but it's really not clear if it will do that and when.
  • #85,925
  • Apr 15, 2009 9:47am Apr 15, 2009 9:47am
Quoting Tmac
3190 is a key S/R point so above it will be better if you take the trade, never take a trade long or short AT a S/R point unless you are scalping

let it break first and R become S

Round numbers are key, ill go after it breakes the 1.32053
"He who is well prepared has won half the battle"
  • #85,926
  • Apr 15, 2009 9:56am Apr 15, 2009 9:56am
Quoting Peterex
Round numbers are key, ill go after it breakes the 1.32053
so r u short?
  • #85,927
  • Edited 10:25am Apr 15, 2009 9:59am | Edited 10:25am
White Circles is where price will get broken or will see important resistance.
Yellow Circles is attempt to turn from Bull to bear as H1 is concerned.
3 times price crossed but then turned back again, will this one for real? If so we may see a very nice fall.
Red arrow, next levels to watch!

At Bottom a CCI Crossed line, not useful anymore, have done their job already.

I hope you guys will enjoy the chart and help you guys to complement your views!!

Bye

editing: Forget white circle where actual price is, it is not important that line. Actual Turning point to change Bull to Bear at H1 chart is 1.3237, possible to see that level again before new drops, if 1.3144 and most important 1.3111 broke first, forget new 1.3237 retest.
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  • #85,928
  • Apr 15, 2009 10:01am Apr 15, 2009 10:01am
Quoting bksujal
so r u short?
closed my short at 1.31663 (strong daily support) 2 lots, have 1 still opened, if it close above the 1.3200 ill close the short left and study the long.
"He who is well prepared has won half the battle"
  • #85,929
  • Apr 15, 2009 10:04am Apr 15, 2009 10:04am
Quoting Tenshi28
The 50 SMA has acted as a strong support in the daily chart lately, with price bouncing seeveral times, I think a clean break below should take us to the 1.30's, but it's really not clear if it will do that and when.
1.3190 is strong S&R on Daily, 3hr, 1hr and 15 min, if that helps.
Good Trading. (keep it simple).
  • #85,930
  • Apr 15, 2009 10:27am Apr 15, 2009 10:27am
Quoting hipcio
What do You think of buy stop @1,3190 SL 1,3146 TP1,3257




Peter

now you can see why you wait for R or S to break before taking a trade
Don't chase the market, Let the market come to you
  • #85,931
  • Apr 15, 2009 10:27am Apr 15, 2009 10:27am
Quoting Jasper
1.3190 is strong S&R on Daily, 3hr, 1hr and 15 min, if that helps.
It ought to go further down now after the close of that last 5min bar at 1.3169.
We'll see!
Good Trading. (keep it simple).
  • #85,932
  • Apr 15, 2009 10:33am Apr 15, 2009 10:33am
Quoting Tmac
now you can see why you wait for R or S to break before taking a trade
ok I agree, what would be the exact level to enter tht trade?
Jesus Christ is my only Lord !
  • #85,933
  • Apr 15, 2009 10:42am Apr 15, 2009 10:42am
Means that big probability to do not see that price again soon.

About M30 Pattern, that last M30 top at 1.3296 looks wonderful as sentiment is concern.

We have some wonderful M30 closed some time ago, last one topped at 1.3391 and the most powerful one is that one topped at 1.3366.
  • #85,934
  • Apr 15, 2009 10:44am Apr 15, 2009 10:44am
Hi all
The best thing that can happen to you is to find out where you're wrong.
  • #85,935
  • Apr 15, 2009 10:47am Apr 15, 2009 10:47am
2 morning stars and two Doji stars indicating a very strong bullish market

TP @ 1.3240
SL @ 1.3100
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Successful people will do what unsuccessful people won’t or can’t do!
  • #85,936
  • Apr 15, 2009 10:50am Apr 15, 2009 10:50am
Quoting hipcio
ok I agree, what would be the exact level to enter tht trade?
That is the $64,000 question.
Good Trading. (keep it simple).
  • #85,937
  • Apr 15, 2009 10:51am Apr 15, 2009 10:51am
Quoting Jasper
That is the $64,000 question.
  • #85,938
  • Apr 15, 2009 10:58am Apr 15, 2009 10:58am
Quoting Jasper
That is the $64,000 question.
You can't pick an exact level, you can pick an entry where your Stratergy gives you a signal, either from Fibs E/Wave, this that and the other, but even on your entry you will more times than not get a retrace. Very few are the times it will go straight up or down.
Good Trading. (keep it simple).
  • #85,939
  • Apr 15, 2009 10:58am Apr 15, 2009 10:58am
Some food for thought...

1. We are in the yellow triangle. This means we haven't had a breakout yet so nobody can really say which direction we'll go.

2. We are in the green triangle. This means we haven't had a breakout yet so nobody can really say which direction we'll go.

3. If we break out of either of the above triangles, one can just say that we are in the blue downward channel. So, even in this case, within the near future we'd have to break about 1.29 in order to say we've broken out of the channel.


Conclusion - nothing has actually changed in the last several weeks.
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  • #85,940
  • Apr 15, 2009 11:05am Apr 15, 2009 11:05am
Quoting Jasper
That is the $64,000 question.
Given the size of my lots, it will be like a hundred bucks question tops.
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