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  • #96,321
  • May 14, 2009 2:31pm May 14, 2009 2:31pm
Quoting plan-b
I think both gu and eu are headed up but gradually
IMO gu will correct to below 1.50 before taking out 1.5350
eu might go higher today but not enough to take out 1.3740
right shoulder appears to be taking shape on H4 so i will wait to short around 1.3645-70..after that has played out we can start thinking of 1.3740 and beyond

but ofcourse i could be totally wrong :nerd:
this appears to be going according to plan
bad GDP figures from euro-zone tomorrow should help speed things along
we might see sub 1.35 tomorrow without much risk to current levels
But the bull is far from dead-might resume next week to new highs
Some drink at the fountain of knowledge. Others just gargle !
  • #96,322
  • May 14, 2009 2:33pm May 14, 2009 2:33pm
Quoting nvcK
I know this is a bit off topic but do you guys know of a _respectable_ broker with web-based interface? I recently got the googlePhone with unlimited online connectivity, but Metatrader4 or the usual Java based platforms from FXCM and Oanda do not work on it yet.
Could try forexwebtrader.com, though they're gonna switch platforms in a few months.
  • #96,323
  • May 14, 2009 2:33pm May 14, 2009 2:33pm
Quoting ak4x
Shampoo is formed... will finish this analysis here as it develops.
i totally agree i am heavely short from 1.3653 targetting 1.3420 medium term probably 7 to 10 days

what do you think?
  • #96,324
  • May 14, 2009 2:35pm May 14, 2009 2:35pm
If 3660 taken out, may have to look for higher entry after all if my 5 m TL and 5m 21sma holds at 46/50.

There's a QP/Psych level at 3676/80 that could work, and R1 at 3690.
FUBAR...
  • #96,325
  • May 14, 2009 2:36pm May 14, 2009 2:36pm
....Beautiful H1 shampoo too.

Let's see.

I have now the SL button ready to push for some of my shorts, not all.
  • #96,326
  • May 14, 2009 2:38pm May 14, 2009 2:38pm
Quoting GastonCorzo
i totally agree i am heavely short from 1.3653 targetting 1.3420 medium term probably 7 to 10 days

what do you think?
My most opitimistic targets are lower but yours is very reasonable. If you're in heavy, you can scale out and hang onto some...?

I don't think it will take 7-10 days tho, I would think considerably sooner than that based on past falls from fast runups. We'll see.
FUBAR...
  • #96,327
  • May 14, 2009 2:39pm May 14, 2009 2:39pm
Guys, won't be posting any more till next hour
  • #96,328
  • May 14, 2009 2:40pm May 14, 2009 2:40pm
Quoting BoredToLoose
....Beautiful H1 shampoo too.

Let's see.

I have now the SL button ready to push for some of my shorts, not all.
This formation is evident on several TF's but the implications will be the same on all TF's.

I'm just using the longer 3 hr for forum charts as it filters out the racket from the 1hr and down. I'm posting further analysis elsewhere tho so I'm not double dipping.
FUBAR...
  • #96,329
  • May 14, 2009 2:43pm May 14, 2009 2:43pm
Quoting GastonCorzo
i totally agree i am heavely short from 1.3653 targetting 1.3420 medium term probably 7 to 10 days

what do you think?
U all guys shorting! I'm not agree , I think we will not go under 1.36 at least not befor 1.37xx
Let's see
  • #96,330
  • May 14, 2009 2:43pm May 14, 2009 2:43pm
Quoting GastonCorzo
i totally agree i am heavely short from 1.3653 targetting 1.3420 medium term probably 7 to 10 days

what do you think?
you might want to keep an eye on that target-just incase
imo overall trend is still up.
question is how far down before bull resumes
Some drink at the fountain of knowledge. Others just gargle !
  • #96,331
  • May 14, 2009 2:47pm May 14, 2009 2:47pm
Quoting ak4x
This formation is evident on several TF's but the implications will be the same on all TF's.

I'm just using the longer 3 hr for forum charts as it filters out the racket from the 1hr and down. I'm posting further analysis elsewhere tho so I'm not double dipping.
although I am on the same boat PA at this time looks really unconvincing...
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #96,332
  • May 14, 2009 2:58pm May 14, 2009 2:58pm
Fibs constantly astonish me...

I just came across one on my 4hr MT4 chart that I don't use much. The current high topped out 7 pips above an old swing fib I had on the chart from mid april... I love these things.

Also on this chart I want to point two things out I noticed..

Look at the white and red color circles, those are previous shampoos that didn't really work out very well as they got invalidated.

Even on a 4h TF, there were several attempts over time that built the shoulders up, so an imminent collapse is not necessarily in the cards. I can see this thing bouncing a'rd yet into next week as I first posted a cfew days ago w/o changing my view for the bigger picture on this. That's why I'm disregarding the lower TF's.

Finally, on those previous formations, Price was ranging off the 200sma support level ((yellow bar)) and respecting previous highs. Only on this last dramatic runup to the 200% Fib Extension did we leave the 200 far below, and bust any recent highs.

Altho that creates an environment for a drop as dramatic as the runup... whether we'll get it is still to be seen tho.
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FUBAR...
  • #96,333
  • May 14, 2009 3:04pm May 14, 2009 3:04pm
Quoting plan-b
you might want to keep an eye on that target-just incase
imo overall trend is still up.
question is how far down before bull resumes
ill have it in mind as AK4x said i wil star closing posicions as soon as i se reversals and getting in short again at at pull baxks but i defenetle think whe are going down hard at least 300 pips
  • #96,334
  • May 14, 2009 3:10pm May 14, 2009 3:10pm
SL

gu-1.5260
eu 1.3670

risking about half of todays profit.
time for bed
Some drink at the fountain of knowledge. Others just gargle !
  • #96,335
  • May 14, 2009 3:21pm May 14, 2009 3:21pm
Me too

Lots o' news tomorrow. I love fridays. This week has been so boring...but hey, tomorrow it's friday! We'll see some moves. I'm not the first to say it but remember when trading the news: momentum, momentum, momentum.

Equities made a new lower high today, OIL&GOLD in range at highest levels, EU finalizing ak4x's shampoo pattern (:roll: can't help myself every time I see "shampoo"). Hope the japs love the dollar or at least range it good until all trades are done at these levels. Tomorrow is pippage time (or demise). In any case for sure not boring.

Fishy out.
  • #96,336
  • May 14, 2009 3:24pm May 14, 2009 3:24pm
Here's the thing...

One hard run up just now to levels many of us here have been posting and looking at... that's good.

It drops some on profit taking and position juggling... that's normal.

It goes back up some (maybe) retesting the previously gained ground... also normal.

If you're getting whipsawed back and forth from hasty entries or out of whack order sizes, you'll be in a bad place for catching the REAL move when it happens... that's bad.

I'm not gonna document every trade or change in sentiment that I have at any given moment and neither should you. I trade and that means I'm constantly watching and reacting to this or that w/o prejudice or consideration for something I posted.

For instance, I've already closed one of my shorts on the stall at short term support. I may close the other one if I see signs it's gonna try another runup, and I'll be ready to catch that one too... or try.

Work these moves with nimbleness and you can dance a'rd while others are having head on collisions with forces they'll never understand or recognize, or survive long enough to learn from.

One thing I love about BTL is he says it the way it is... sometimes your plan catches on fire and dies and the last thing you need is someone throwing rocks at you. That's why I personally have very little tolerance for people that require spoonfeeding cuz they won't learn to bend their own elbow and stick it in their own mouth...

Learning and getting into a mess is one thing... that can usually be fixed.

Failure to learn = Liquidity.
FUBAR...
  • #96,337
  • May 14, 2009 3:31pm May 14, 2009 3:31pm
Quoting TheFisherman
EU finalizing ak4x's shampoo pattern (:roll: can't help myself every time I see "shampoo").
Someone else started that way back on the auslanco geppy thread. Since we knew the borkers had spies watching our trades, we came up with the code word shampoo to confuse them... it started as a joke and stuck.

On that note and for enhanced security, I actually just invented a new term for Yoorow shampoos to keep them in the dark.

Enjoy
FUBAR...
  • #96,338
  • May 14, 2009 3:33pm May 14, 2009 3:33pm
Lost a few but gained even more, but most of all, much more than this.....I did it....myyyyyy wayyyyyy!
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  • #96,339
  • May 14, 2009 3:36pm May 14, 2009 3:36pm
One more thing. I use to take a look on all TF's before calling the day. I noticed this on the daily chart or maybe it's just sleep yelling. As a JOKE:

Take a good look on the daily chart... Do you see an M? Would be hillarious if tomorrow EU dunks What would the M stand for? Maybe it's the M from econoMy...

Man, definitely need some sleep

Fishy really out this time
  • #96,340
  • May 14, 2009 3:39pm May 14, 2009 3:39pm
Quoting ak4x
Failure to learn = Liquidity.
Plus maintaining sanity
The Thief of Wall Street
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