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  • #86,121
  • Apr 15, 2009 10:39pm Apr 15, 2009 10:39pm
Quoting Chicky
Thanks Gator.

I have decided to take a chance on this sissy bull. It meets my r/r criterion.
but you dont have too.. if it takes off you will have a long time imfuo look at the gu chart i posted.. then count the time frames and pips.. this doesnt happen often..if it happens..remember i said IF
those who can, do. those who cant, talk about those who can
  • #86,122
  • Apr 15, 2009 10:42pm Apr 15, 2009 10:42pm
Quoting gatorinla
but you dont have too.. if it takes off you will have a long time imfuo look at the gu chart i posted.. then count the time frames and pips.. this doesnt happen often..if it happens..remember i said IF
pay attention to colored lines when they crossed and how long before they recrossed indicated by arrows..
those who can, do. those who cant, talk about those who can
  • #86,123
  • Apr 15, 2009 10:44pm Apr 15, 2009 10:44pm
Quoting Chicky
Now one more thing - do you think these exceptions to this bull flag are because of it forming too close to Psycho level of 1.3000? Buying pressure just above 1.3000 should prevent it making lower lows. Again flag may got stretched in a bid to reach 1.3000.

Whatever it is, I expect a healthy bounce whenever it gets near to 1.3000, a lot of horizontal support just below this level.
My honest opinion is you are grasping for straws....no offense. Clearly you are long biased and I am wondering why. When it comes to long term trading it is not only what the charts say but fundamentals going on as well. Why are you so bullish?

As far as "special" circumstances go..who knows...your guess is as good as mine but lets not forget the complications going in the world right now. To name a few...the ECB expected to rut cates again nearing that 1% mark. The bull rally in the stock market which has encountered strong resistance and could go either way from where it is...either crash back down to the lows (which is my suspicion) or go towards 10,000 for the DOW(alot of bs needed to pump it that high in my opinion). Then there is the global recession which is not even close to being over...NFP for example confirms that as well as unemployment numbers and all the profitstealing reports coming out.

I guess what it comes down to it is one simple question...is the dollar still a safe haven or not? This is why we are consolidating right now in this tight range between 1.3000 (psychological value although 1.3100 is more accurate) and 1.3700 to take the swing high into account. No bias we hold has the answer to that question in my opinion as fundies change daily...you never know what tommorow may bring.

Can I have another 2 cents?
Different opinions highly valued, ignorant to slander.
  • #86,124
  • Apr 15, 2009 10:47pm Apr 15, 2009 10:47pm
Quoting 99vt66
Yes, I can see it too but not too sure on the bull things.
Now. assuming it is indeed a bull, mabbe you can fill us in on how to trade in that context with a specific entry/exit/sl level ??

Always try to learn more and more still.......

Thx
I am no expert in trading, just a gambler.

I would place a series of buy orders from 1.3200 to 1.3000 with stoploss at 1.2940 and wait. However, think that 60 pip s/l below 1.3000 would be an utter waste of money, because if it has to go up, will go up from or above 1.3000. My TP will be 5 times my risk i.e. [5 x (average buy -1.2940)].
The Thief of Wall Street
  • #86,125
  • Apr 15, 2009 10:50pm Apr 15, 2009 10:50pm
Quoting Chicky
Or it is just my imagination?
Imagination is a powerful thing.

Imagine the one to the left from 26xx up to either 45xx or 47xx depending one's taste. The pole on that one should have taken us up to 67xx or so...

I think there were even some posts about that at the time... who knows? It might still...

I can almost see it....
FUBAR...
  • #86,126
  • Apr 15, 2009 10:52pm Apr 15, 2009 10:52pm
Actually I prefer to see the Mother of all Bear Flags on the Monthly that should drop us well below Parody before it's All Over.
FUBAR...
  • #86,127
  • Apr 15, 2009 10:55pm Apr 15, 2009 10:55pm
Quoting Chicky
I am no expert in trading, just a gambler.

I would place a series of buy orders from 1.3200 to 1.3000 with stoploss at 1.2940 and wait. However, think that 60 pip s/l below 1.3000 would be an utter waste of money, because if it has to go up, will go up from or above 1.3000. My TP will be 5 times my risk i.e. [5 x (average buy -1.2940)].
with a name like chicky you should be a pole dancer... man im still pissed u phucked up the image
Attached Image
those who can, do. those who cant, talk about those who can
  • #86,128
  • Apr 15, 2009 10:57pm Apr 15, 2009 10:57pm
Quoting ak4x
Actually I prefer to see the Mother of all Bear Flags on the Monthly that should drop us well below Parody before it's All Over.
Well yah
Nite all
  • #86,129
  • Apr 15, 2009 10:59pm Apr 15, 2009 10:59pm
Quoting psiholog
My honest opinion is you are grasping for straws....no offense. Clearly you are long biased and I am wondering why. When it comes to long term trading it is not only what the charts say but fundamentals going on as well. Why are you so bullish?

As far as "special" circumstances go..who knows...your guess is as good as mine but lets not forget the complications going in the world right now. To name a few...the ECB expected to rut cates again nearing that 1% mark. The bull rally in the stock market which has encountered strong resistance and could...
Thanks Psi. I owe you much more than just few cents.
Your are right. I have some bullish sentiments and that is not good for my trading. I follow my system. Thanks for putting be back on track.
The Thief of Wall Street
  • #86,130
  • Apr 15, 2009 11:00pm Apr 15, 2009 11:00pm
Most of the times, one glitch, a minor mistake, a wrong step shows up and we can finally see clearly behind the mask.
Traders are smartasses
  • #86,131
  • Apr 15, 2009 11:09pm Apr 15, 2009 11:09pm
Quoting Chicky
I am no expert in trading, just a gambler.

I would place a series of buy orders from 1.3200 to 1.3000 with stoploss at 1.2940 and wait. However, think that 60 pip s/l below 1.3000 would be an utter waste of money, because if it has to go up, will go up from or above 1.3000. My TP will be 5 times my risk i.e. [5 x (average buy -1.2940)].
Hmmm...thx

A good gambler IQ/EQ is among the highest in the real world.......

GL and take care..
  • #86,132
  • Apr 15, 2009 11:14pm Apr 15, 2009 11:14pm
Quoting gatorinla
with a name like chicky you should be a pole dancer... man im still pissed u phucked up the image
Maybe I am a stunning beauty far better than this ugly image. Maybe I like company of strangers, love sipping wine and want to enjoy life as much as you do. Maybe my boyfriend has turned into some kind of control freak and I want to satisfy my burning desires but want to stay unchained. Maybe I am tired of silly PMs and want no more these messages. Who knows? Maybe you saw me in Chiang Mae last summer or betted on the same table in Genting, or Vegas summer before that. Maybe we stayed in rooms next to each other in Yak and Yeti or Semiramis Intercontinental this winter. Maybe I am known as Eyecandy? Who knows? ...........Do you really?
The Thief of Wall Street
  • #86,133
  • Apr 15, 2009 11:14pm Apr 15, 2009 11:14pm
Quoting Chicky
Thanks Psi. I owe you much more than just few cents.
Your are right. I have some bullish sentiments and that is not good for my trading. I follow my system. Thanks for putting be back on track.
As long as my opinions dont alter your system...glad to be of help. And as far as bias goes...a little bias is needed...shoot I probably use bias more then anyone here.

The way I use my bias is given each particular day and whatever is going on that day (I derive it from the psychology behind price action and fundies). So let's say I hold a bearish bias one day like I do today, all my positions will be shorts at designated targets until I am proven wrong at which point I take a step back and see why I was wrong and adjust my bias accordingly. Longer term bias is too heavily dependent on fundies which means every single day you must spend at least a few hours just learning about what is going in the world...subtle (or not so subtle) changes make all the difference. Best example was feds buying treasuries...we weren't aware that would happen for certain until the 500pip rally up day but those who did their homework knew it would weeks ahead of announcement.

Think of bias as just another indicator that helps paint the overall picture of what you see on your charts but like all indicators..it alone is not enough to successfully execute trades.
Different opinions highly valued, ignorant to slander.
  • #86,134
  • Apr 15, 2009 11:22pm Apr 15, 2009 11:22pm
Quoting Chicky
Maybe I am a stunning beauty far better than this ugly image. Maybe I like company of strangers, love sipping wine and want to enjoy life as much as you do. Maybe my boyfriend has turned into some kind of control freak and I want to satisfy my burning desires but want to stay unchained. Maybe I am tired of silly PMs and want no more these messages. Who knows? Maybe you saw me in Chiang Mae last summer or betted on the same table in Genting, or Vegas summer before that. Maybe we stayed in rooms next to each other in Yak and Yeti or Semiramis Intercontinental...
*LMAO* it aint gonna work.. you told me already your a man.. but as you said.. who knows...you should write for harliquin romance novels...
those who can, do. those who cant, talk about those who can
  • #86,135
  • Apr 15, 2009 11:37pm Apr 15, 2009 11:37pm
Quoting gatorinla
*LMAO* it aint gonna work.. you told me already your a man.. but as you said.. who knows...you should write for harliquin romance novels...
Out of total six billion, three billion are males. One billion of them are of my age. Plenty of margin still available after setting aside gay population. Occasional over or under my age bracket is a welcome bonus.
The Thief of Wall Street
  • #86,136
  • Apr 15, 2009 11:39pm Apr 15, 2009 11:39pm
Victor/Victoria?

  • #86,137
  • Apr 15, 2009 11:46pm Apr 15, 2009 11:46pm
Quoting Chicky
Out of total six billion, three billion are males. One billion of them are of my age. Plenty of margin still available after setting aside gay population. Occasional over or under my age bracket is a welcome bonus.
did you take into account the imprisoned, toothless, crazy, and peniel challenged? or are they included in the pool? *L*
those who can, do. those who cant, talk about those who can
  • #86,138
  • Apr 15, 2009 11:47pm Apr 15, 2009 11:47pm
Quoting SunTrader
Victor/Victoria?

yeah,, got me stratching both heads *L*
those who can, do. those who cant, talk about those who can
  • #86,139
  • Apr 15, 2009 11:49pm Apr 15, 2009 11:49pm
Quoting psiholog
This next scenario is a big if. It may happen or it may not, it is something I am looking for right now though and if it does occur...I will definetely ride that down.

We may have a h&s on the 5min chart (yes the 5min chart which means this would complete quickly!)
Chart is self explanatory but note that this is pure speculation at this time as the right shoulder would need to form FIRST

my entry would be either at the right shoulder formation or a break of the neckline if this scenario plays out

Attachment
well well. it looks like this h&s is completing. the only addition to my previous analysis is that the shoulderline and neckline are at a bit of an angle but still very much an h&s.

My entry was split into two entry points...half the position at the high of the right shoulder and the other half where i think the neckline is. The average stop loss for both is 50pips...take profit...well the math says the tip of the head to neckline is roughly 80pips. COnsidering neckline is around 1.3200...that puts the target around 1.3120 which coincides with my strong support level at 1.3130. I will close half the position there most likely and let the other half run with stop loss at entry.

One final note..my entries were before the neckline was even broken...the "professionals" recommend entering only after neckline is broken and a potential retest occurs but that just isnt my style.

Good pippin all..lets see now (win or lose..I stuck to the plan so that alone makes me a winner tonight. This message is dedicated to those who have had great entries for very valid reasons yet still got stopped out and felt very bummed out. Trading aint easy...we must accept all outcomes with an open heart)
Attached Image (click to enlarge)
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Different opinions highly valued, ignorant to slander.
  • #86,140
  • Apr 15, 2009 11:51pm Apr 15, 2009 11:51pm
Quoting psiholog
well well. it looks like this h&s is completing. the only addition to my previous analysis is that the shoulderline and neckline are at a bit of an angle but still very much an h&s.

My entry was split into two entry points...half the position at the high of the right shoulder and the other half where i think the neckline is. The average stop loss for both is 50pips...take profit...well the math says the tip of the head to neckline is roughly 80pips. COnsidering neckline is around 1.3200...that puts the target around 1.3120 which coincides with...
good trade...
those who can, do. those who cant, talk about those who can
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