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  • #93,961
  • May 8, 2009 5:24am May 8, 2009 5:24am
Levels not to be scratching your arse at:


@ 1.3540
@ 1.3484
@ 1.3430
@ 1.3375
@ 1.3320
@ 1.3265
  • #93,962
  • May 8, 2009 5:24am May 8, 2009 5:24am
Quoting TheFisherman
Good morning all. European stocks took off before the news from Germany. If they in any way giving some hope on the economy, momentum could push further and with the apparent double top forming on EUR/USD could drive euro lower. Look out for shorts.
Who's a noob now?!
  • #93,963
  • May 8, 2009 5:29am May 8, 2009 5:29am
Quoting TheFisherman
Who's a noob now?!

We are all noobs at some level. Embrace it.
  • #93,964
  • May 8, 2009 5:35am May 8, 2009 5:35am
Quoting notch
Nah. Scrub that.

This baby want to see 1.3320 before resuming upswing. So says my MP charts.
Good mornin Notch. Market could get to your first level and even push to 1.3364, any lower and I am a seller later. Any signs of a bottom forming soon and I will buy.

trying to cut down on my posts as in danger of getting geriatric status.
Keep those models comin. Had a time with NN a long while back but gave up without trading them (biocomp was best)
  • #93,965
  • May 8, 2009 5:35am May 8, 2009 5:35am
Quoting notch
We are all noobs at some level. Embrace it.
I at least try to stay out of number predictions and definite "crystal ball" predictions.
  • #93,966
  • May 8, 2009 5:38am May 8, 2009 5:38am
Trading way this week..
1. Normal TA when top or bottom is formed we draw four horizontal lines.
2.One line 10 pips away from the top and one on the actual top.
3. Line goes through the 10 pip line but closes back from where it came from go in that direction.
4. Line closes over the actual top/bottom line go in that direction.
5. Set 20/70 SL/TP (Stop loss/ Take profit)
6. After one loss increase amount (favourable).

I normally use this TA when we are not going anywhere...
Otherwise I Use normal TA...

Happy Trading
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  • #93,967
  • May 8, 2009 5:38am May 8, 2009 5:38am
Quoting Atlast
Have you ever seen a railtrack crossing. It looks something like this x
You saw it, it was just a matter of making sure you got on at least for a short ride. and you even have the levels marked off to a tee.
I may be wrong, but after this retrace it could be a long set up. You appear to be a long term TF trader, in which case hope today works out.
Thanks for a reply.

I now have my tp set at 1.332, cause that's, where IMO the price might touch the lower tl.
  • #93,968
  • May 8, 2009 5:41am May 8, 2009 5:41am
Quoting TheFisherman
I at least try to stay out of number predictions and definite "crystal ball" predictions.
I'm not sure what you're getting at Fishy. You'll have to be moe direct, are you suggesting that I do? Don't be scared, I won't bite.
  • #93,969
  • May 8, 2009 5:43am May 8, 2009 5:43am
Quoting notch
We are all noobs at some level. Embrace it.

I prefer the term neophyte.
Designer by day Trader by night.
  • #93,970
  • May 8, 2009 5:47am May 8, 2009 5:47am
i am back i went Long @ 3400 TP 3480
Never sell @ lower upward channel unless breacked and vise versa .
  • #93,971
  • Edited 5:53am May 8, 2009 5:52am | Edited 5:53am
Quoting WedWed
i am back i went Long @ 3400 TP 3480
Waiting for a little shakeout before I enter.
Lookin for 1 more trade today. Have to be out the market soon. May or may not take it.
  • #93,972
  • May 8, 2009 5:53am May 8, 2009 5:53am
Quoting Atlast
Good mornin Notch. Market could get to your first level and even push to 1.3364, any lower and I am a seller later. Any signs of a bottom forming soon and I will buy.

trying to cut down on my posts as in danger of getting geriatric status.
Keep those models comin. Had a time with NN a long while back but gave up without trading them (biocomp was best)

Hey dude!
I'm paper-trading the EURO today and live trading the FT100. The EUR model is good but I can't ignore the fact that it is outstanding before and after news announcements and also at prominent pivot levels. So I'm going to paper trade it.

I'll post model signals at significant times and see if we are onto a winner.
  • #93,973
  • May 8, 2009 5:56am May 8, 2009 5:56am
Quoting WedWed
i am back i went Long @ 3400 TP 3480
Although I've had two good short trades today, the overall price action shown on the Daily Chart is still favouring an upward direction, probably to 1.3482!!
Good Trading. (keep it simple).
  • #93,974
  • May 8, 2009 5:56am May 8, 2009 5:56am
Quoting Atlast
Waiting for a little shakeout before I enter.
Lookin for 1 more trade today. Have to be out the market soon. May or may not take it.

my SL 3385 what do u think ??
Never sell @ lower upward channel unless breacked and vise versa .
  • #93,975
  • May 8, 2009 5:58am May 8, 2009 5:58am
Quoting notch
I'm not sure what you're getting at Fishy. You'll have to be moe direct, are you suggesting that I do? Don't be scared, I won't bite.
Dude, I don't even know if you do or not cause I just don't pay attention to numbers anymore. Cause if you make a statistic you'll see 90% of the times somebody throws a number in PA won't buy it so I guess one could make an educated guess what PA WON'T do/

Really, throwing a number without even explaining where you get it from is kinda gambling isn't it? Like, say roulette

The only number today that made sense was 1.34 - somebody said something about playing basketball around it

Look, nothing personal to anybody ok? I am the biggest noob of all (maybe I should change my nick ...hmmm ... ) but what I say I try to give the reasons behind MHO so anyone could take into consideration or not depending if they think/feel the reasons hold or are just a lot of BS. I tired of FX predictions, man... tired you see. I want math, logic, psychology and links between them... I don't trust technical analysis since it most of the time 50% accurate. Trendlines are created ultimately by somebody thinking a buy/sell strategy over longer term with higher volumes. The are not created by "my chart". I could go on yaping forever but I think you got my point...

Cheers.
  • #93,976
  • May 8, 2009 6:02am May 8, 2009 6:02am
Quoting WedWed
my SL 3385 what do u think ??
Lookin safe at the moment, but below 1.3374 if you are in it for other than a quick scalp
  • #93,977
  • May 8, 2009 6:07am May 8, 2009 6:07am
Quoting Atlast
Lookin safe at the moment, but below 1.3374 if you are in it for other than a quick scalp

ST BE thanx brother
Never sell @ lower upward channel unless breacked and vise versa .
  • #93,978
  • May 8, 2009 6:08am May 8, 2009 6:08am
Its NFP day - no wonder EURUSD is ranging in a tight 90 pips channel waiting for the news to come out.

my prediction, better than expected result -> bullish eurusd.
  • #93,979
  • May 8, 2009 6:17am May 8, 2009 6:17am
Quoting TheFisherman
I tired of FX predictions, man... tired you see. I want math, logic, psychology and links between them... I don't trust technical analysis since it most of the time 50% accurate. Trendlines are created ultimately by somebody thinking a buy/sell strategy over longer term with higher volumes. The are not created by "my chart". I could go on yaping forever but I think you got my point...

Cheers.
Good observation, but you are searching for the proverbial winning formula when it is right in front of you. Market is random, that's why you dont want to be looking from outside, you want to be inside that randomness. Funny thing trendlines, helps you stay inside the market. Enough philosophy before I confuse you or myself
  • #93,980
  • May 8, 2009 6:18am May 8, 2009 6:18am
morning people

here's my friday squeeze play..let me know what you think..baby
http://www.forexfactory.com/news.php?do=news&id=167766
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