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  • #97,781
  • May 19, 2009 9:17pm May 19, 2009 9:17pm
I put a Buy Stop order in just above the Fib 23.6 retrace at 1.36100; SL at 1.35900; PT at 1.37000.

If we set a channel bottom here, I should get picked up and ride it back up... assuming I can keep my head about me.
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  • #97,782
  • May 19, 2009 9:22pm May 19, 2009 9:22pm
They are buying the Yen tonight. Next might be the Dollar. Which you know what that means for the Euro!!
  • #97,783
  • May 19, 2009 9:24pm May 19, 2009 9:24pm
Eh eh.
Traders are smartasses
  • #97,784
  • May 19, 2009 9:29pm May 19, 2009 9:29pm
I moved my channel bottom down to the 100 SMA. The M15 has been going back to it over and over today. 3 touches noted on the chart.

Slight adjustment to the bottom, but still shaping to be a channel up.
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  • #97,785
  • May 19, 2009 9:44pm May 19, 2009 9:44pm
We are there once again my friend. I am loaded long. Don't be surprised if it goes on down to 3550 area. Long term trend is up.

MK

Quoting bagoomba
I moved my channel bottom down to the 100 SMA. The M15 has been going back to it over and over today. 3 touches noted on the chart.

Slight adjustment to the bottom, but still shaping to be a channel up.
  • #97,786
  • May 19, 2009 9:48pm May 19, 2009 9:48pm
Just covered my shorts at huge loss and went long.
Is this a good idea?
The Thief of Wall Street
  • #97,787
  • May 19, 2009 9:48pm May 19, 2009 9:48pm
Quoting FXexpress
We are there once again my friend. I am loaded long. Don't be surprised if it goes on down to 3550 area. Long term trend is up.

MK
What makes you think 3550?

That's also why I placed a stop order instead of market. I don't have the pockets to ride out a 50 pip dip.
  • #97,788
  • May 19, 2009 9:51pm May 19, 2009 9:51pm
Quoting Chicky
Just covered my shorts at huge loss and went long.
Is this a good idea?
I guess we'll see. Depends on why you went short. Maybe you saw something I didn't see.

  • #97,789
  • May 19, 2009 9:53pm May 19, 2009 9:53pm
Quoting Chicky
Just covered my shorts at huge loss and went long.
Is this a good idea?
Should drop like a stone now.
  • #97,790
  • May 19, 2009 9:54pm May 19, 2009 9:54pm
Quoting bablo
Should drop like a stone now.

Famous words.
Traders are smartasses
  • #97,791
  • May 19, 2009 9:56pm May 19, 2009 9:56pm
Quoting bagoomba
I guess we'll see. Depends on why you went short. Maybe you saw something I didn't see.

I saw greed before going short. Have entered longs for the same reason. If I get pips out of this deal, will steal some charts and post here with complete technical analysis claiming win based on my analysis.
The Thief of Wall Street
  • #97,792
  • May 19, 2009 9:58pm May 19, 2009 9:58pm
Quoting Spsantos
Famous words.

should drop like a stone now

or

launch like a rocket now

actually it may rest like a sleeping baby now
  • #97,793
  • May 19, 2009 10:00pm May 19, 2009 10:00pm
Wowo looks like I covered a little too soon...waiting again. Would like to to see 1.34 before more longs, but if it sets up sooner...c'est la vie.

Aussie same scenario.
  • #97,794
  • May 19, 2009 10:00pm May 19, 2009 10:00pm
Quoting Chicky
I saw greed before going short. Have entered longs for the same reason. If I get pips out of this deal, will steal some charts and post here with complete technical analysis claiming win based on my analysis.
Just curious where you entered short and long ???
  • #97,795
  • May 19, 2009 10:00pm May 19, 2009 10:00pm
Quoting Chicky
I saw greed before going short. Have entered longs for the same reason. If I get pips out of this deal, will steal some charts and post here with complete technical analysis claiming win based on my analysis.
LOL- isn't that what we all do?
  • #97,796
  • May 19, 2009 10:00pm May 19, 2009 10:00pm
Can some of the more senior posters help me out?

I have a FIB noted from the Dec. 18 high (1.4720) down to the March 4 low (1.2457). This FIB had the 1st week of May consolidated around the 38.2% line and the 2nd week to today around the 50% line. This is the second time hitting the 50% line (last time was mid March).

Question: How can one tell if we are going to bounce up to 61.8% line (1.385x) or back down to 38.2% line (1.299x) ???

(sorry...don't know how to post my chart)
Si vis pacem, para bellum.
  • #97,797
  • May 19, 2009 10:00pm May 19, 2009 10:00pm
Quoting Chicky
I saw greed before going short. Have entered longs for the same reason. If I get pips out of this deal, will steal some charts and post here with complete technical analysis claiming win based on my analysis.
I *think* i know what you mean, you've already deserved it, recognition or no recognition.
Remembering that it's much much easier to be a bear in current economic conditions than a bull.

But if you're right(i think you are), you should catch quite some nice spikes
Traders are smartasses
  • #97,798
  • May 19, 2009 10:01pm May 19, 2009 10:01pm
Quoting bablo
Should drop like a stone now.
Me too think so. But I plan to buy more on evey move down until it hits 1.33xx.
The Thief of Wall Street
  • #97,799
  • May 19, 2009 10:04pm May 19, 2009 10:04pm
shorters, can i ask why.. from how i see it, it may short or well long..

now may just be a bounce of the resistance 1.37 on the daily

it may well go up and beyond too or fail and drop more..

especially chicky who sees 1.33 jus curious to learn alternatives
  • #97,800
  • May 19, 2009 10:05pm May 19, 2009 10:05pm
Quoting Spsantos
I *think* i know what you mean, you've already deserved it, recognition or no recognition.
Remembering that it's much much easier to be a bear in current economic conditions than a bull.

But if you're right(i think you are), you should catch quite some nice spikes
I always respected you Sir, but this post tells your class. You can penetrate people's minds. This is exactly the thought behind my move. You got my method Spsantos.
The Thief of Wall Street
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