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  • #97,801
  • May 19, 2009 10:06pm May 19, 2009 10:06pm
I just have seen it happen before. Sometimes it dips thru, just keep an eye on it.

Quoting bagoomba
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.
  • #97,802
  • May 19, 2009 10:09pm May 19, 2009 10:09pm
Quoting Chicky
Me too think so. But I plan to buy more on evey move down until it hits 1.33xx.
Considering we just passed 1.36, I'm thinking we'll see 1.37 long before 1.33.

We bounced off the 100 SMA (again), My M5 AO and MACD are showing bullish, we're approaching the 13 EMA and have crossed the Fib 23.6. I've done a really good job of rationalizing my gut feel, haven't I?
  • #97,803
  • May 19, 2009 10:11pm May 19, 2009 10:11pm
No one knows for sure....

but tempting longs here.

reflation trade seems like it has another head of steam. Multinationals crying they can't make money with strong dollar. I don't know, all the money we put into buying back bond so china could liquidate a little. It's just too much to say dollar strength has any strength. If everyone believes dollar will go down, it might just become true.
  • #97,804
  • Edited 10:16pm May 19, 2009 10:13pm | Edited 10:16pm
Quoting smithbry
Just curious where you entered short and long ???
I only go against big spikes. But the last short deal was based on sum total of small moves up. It retraced to where I expected. Profit or loss, this is time to move on.
The Thief of Wall Street
  • #97,805
  • May 19, 2009 10:15pm May 19, 2009 10:15pm
Quoting Chicky
Me too think so. But I plan to buy more on evey move down until it hits 1.33xx.
In that case you're fine. But why not wait for a fall to load longs?

My charts show HD on the 1Hr. That's why I think short. If it plays out I expect it to hit 1.3350-1.34. Big IF. bu I can't go long when I see HD.

Simply not prudent. Also oil and DOW and S&P all seem do for a correction. Why? Smply because to far to fast from the lows.
  • #97,806
  • May 19, 2009 10:17pm May 19, 2009 10:17pm
Quoting Chicky
I am only go against big spikes. But the last short deal was based on sum total of small moves up. It retraced to where I expected. Profit or loss, this is time to move on.
Are you trying to scalp? If so, Hoss has a pretty scalping strategy. You may want to follow his threads.
  • #97,807
  • Edited 10:20pm May 19, 2009 10:18pm | Edited 10:20pm
Quoting bagoomba
Considering we just passed 1.36, I'm thinking we'll see 1.37 long before 1.33.

We bounced off the 100 SMA (again), My M5 AO and MACD are showing bullish, we're approaching the 13 EMA and have crossed the Fib 23.6. I've done a really good job of rationalizing my gut feel, haven't I?
Thanks. I removed my 100 sma just a few hours ago. Should have kept it. But my eyes were as good, weren't they?

ps. Which time frame 100 sma, it is still far below on daily and IH???
The Thief of Wall Street
  • #97,808
  • May 19, 2009 10:23pm May 19, 2009 10:23pm
as sun said they are buying the yen..asian session equitys up yet yen crosses down.. just the oposite of whats expected. if yen buying is a safe haven dollar should be next. equitys volume has been light. just speculation but something dont smell right. might be a good time to beat the kids or visit the girlfreind..and just stay out..until the plot is known... this see saw im watching must be surely making bulls nervous..

oh and commodities are down too..

the quiet before the storm?.. did anyone notice u.s. sell off at close? covering their ass??...i dont know. but when in doubt i stay out. oh did you notice japans economy shrank 15%? lowest since ww2...if u.s. is not buying cheap crap from chindia or japan do you think they are buying from e-zone? its just simple.. without a job we buy less..the over printed money is already priced in.. we all know about it..

too many other pairs to trade..until things settle out..
those who can, do. those who cant, talk about those who can
  • #97,809
  • Edited 10:24pm May 19, 2009 10:24pm | Edited 10:24pm
Quoting bagoomba
Are you trying to scalp? If so, Hoss has a pretty scalping strategy. You may want to follow his threads.
Thanks for letting me know. No, I cannot scalp. My brain is too weak for scalping. Tried but failed many times. I do this on daily and 1H charts. My trades last for several hours if not days.
The Thief of Wall Street
  • #97,810
  • May 19, 2009 10:31pm May 19, 2009 10:31pm
Quoting bablo
In that case you're fine. But why not wait for a fall to load longs?

My charts show HD on the 1Hr. That's why I think short. If it plays out I expect it to hit 1.3350-1.34. Big IF. bu I can't go long when I see HD.

Simply not prudent. Also oil and DOW and S&P all seem do for a correction. Why? Smply because to far to fast from the lows.
I used to do with anti-hedge strategy. But it costs a lot if I get in and out frequently. Only marginal saving, but it distorts my thinking. I have found other ways of minimizing costs. That includes gradual incremental entries (there is a technical word for it, I just couldn't recall). I normally enter in a range of 100 to 250 pips, but with a provision of 300 more. It looks crazy but works for me.
The Thief of Wall Street
  • #97,811
  • May 19, 2009 10:31pm May 19, 2009 10:31pm
Curious what other pairs do you trade and what timeframes? I've stayed focused on a single pair (E/U) to hone my skills. Plus it tends to trend pretty well.

Quoting gatorinla
as sun said they are buying the yen..asian session equitys up yet yen crosses down.. just the oposite of whats expected. if yen buying is a safe haven dollar should be next. equitys volume has been light. just speculation but something dont smell right. might be a good time to beat the kids or visit the girlfreind..and just stay out..until the plot is known... this see saw im watching must be surely making bulls nervous..

oh and commodities are down too..

the quiet before the storm?.. did anyone notice u.s. sell off at close?...
  • #97,812
  • May 19, 2009 10:32pm May 19, 2009 10:32pm
1.3679 is my line in the sand. We have yet to close above it.

This is 61.8% of the prior move March 4th-19th projected up off the most recent higher swing low on April 20th.
  • #97,813
  • May 19, 2009 10:32pm May 19, 2009 10:32pm
At this point its pretty easy. Adam Lambert will win American Idol. I called that from the first week.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #97,814
  • May 19, 2009 10:38pm May 19, 2009 10:38pm
Quoting gatorinla
as sun said they are buying the yen..asian session equitys up yet yen crosses down.. just the oposite of whats expected. if yen buying is a safe haven dollar should be next. equitys volume has been light. just speculation but something dont smell right. might be a good time to beat the kids or visit the girlfreind..and just stay out..until the plot is known... this see saw im watching must be surely making bulls nervous..

oh and commodities are down too..

the quiet before the storm?.. did anyone notice u.s. sell off at close?...
LMAO... your synopses never cease to amaze me and I should know to swallow my drink before I read your posts... I may never learn.

I've been long since 3443 and buying dips. I dont see this pair moving any lower than around 3555 in the next few hours but dont quote me
  • #97,815
  • May 19, 2009 10:42pm May 19, 2009 10:42pm
Quoting bagoomba
Curious what other pairs do you trade and what timeframes? I've stayed focused on a single pair (E/U) to hone my skills. Plus it tends to trend pretty well.
all u.s. majors... but when things are funny .. like now eg an..these 2 dont have a lot of outside inference. ea ey gy thes 3 can get crazy.. ea can be as bad as gy... gy has a beautiful mthly and weekly chart.. ak pointed monthly out to me..
those who can, do. those who cant, talk about those who can
  • #97,816
  • May 19, 2009 10:44pm May 19, 2009 10:44pm
Quoting GrnEydGuy
LMAO... your synopses never cease to amaze me and I should know to swallow my drink before I read your posts... I may never learn.

I've been long since 3443 and buying dips. I dont see this pair moving any lower than around 3555 in the next few hours but dont quote me


I don't care, i sign your statement, and fully endorse your statement!

Long until we find the *wall*.
Traders are smartasses
  • #97,817
  • May 19, 2009 10:50pm May 19, 2009 10:50pm
I'm starting to wonder if there isn't a triangle forming in the M15. If so, we may be headed back down.
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  • #97,818
  • May 19, 2009 10:50pm May 19, 2009 10:50pm
Quoting Spsantos


I don't care, i sign your statement, and fully endorse your statement!

Long until we find the *wall*.
You couldn't have at least waited until price broke into a bull move and proved us right?

I mean c'mon retro posting is the in thing ya know!
  • #97,819
  • May 19, 2009 10:51pm May 19, 2009 10:51pm
Quoting GrnEydGuy
LMAO... your synopses never cease to amaze me and I should know to swallow my drink before I read your posts... I may never learn.

I've been long since 3443 and buying dips. I dont see this pair moving any lower than around 3555 in the next few hours but dont quote me
i cant disagree with the long..you were in early enough.. but ill wait for the movie...stress free... the gy has been giving up lots of coin... if i can stay awake during scalps..
those who can, do. those who cant, talk about those who can
  • #97,820
  • May 19, 2009 10:51pm May 19, 2009 10:51pm
Quoting smithbry
Just curious where you entered short and long ???
Sorry, I misread you "where" as "why" in my earlier post.

I started shorting it 1.3558 to 1.3613, eight trades. But went to sleep and my tp was 1.3510. It missed my tp at 10:00 am this morning by few pips. pa come down to my first entry around 1.3558 and then reversed. When I woke up, I knew that I had lost the deal. It also reminded me of snprr's first post on page 1. I then waited it to come to 1.3600 to cover my position. I do not fight with strong resistances/supports.
The Thief of Wall Street
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