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  • #98,381
  • May 20, 2009 3:22pm May 20, 2009 3:22pm
Perhaps you did;t read my post #98387.
  • #98,382
  • May 20, 2009 3:23pm May 20, 2009 3:23pm
Quoting yxy
Could you show a pic of your Fib. On my chart, if you draw the Fib from the high of 1.6xx down to 123xx, 38 fib has been busted today.
not closed above it.. draw fibs from 1.2333 oct..low and 1.4718 dec.. high(those fibs been working lately) you are going to have a 4hrs pinbar at 61.8 fib (1.3823 which is also 12/19/2008 low and now becoming a resistance, possible retracement maybe time to sell the rumor.
Attached Image (click to enlarge)
Click to Enlarge Name: fibs.gif Size: 22 KB
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #98,383
  • May 20, 2009 3:24pm May 20, 2009 3:24pm
Quoting vinesh2
Perhaps you did;t read my post #98387.
...hmmmmmmm

I guess time will tell.

GL anyway
  • #98,384
  • May 20, 2009 3:31pm May 20, 2009 3:31pm
  •  yxy
  • | Joined Jul 2008 | Status: just one pip at a time | 55 Posts
Quoting vulture
not closed above it.. draw fibs from 1.2333 oct..low and 1.4718 dec.. high(those fibs been working lately) you are going to have a 4hrs pinbar at 61.8 fib (1.3823 which is also 12/19/2008 low and now becoming a resistance, possible retracement maybe time to sell the rumor.
Thanks for the chart. I understand that price has not yet close, but is trading above it. Right now, my chart does not have a pin bar on the 4H, with roughly 90 minutes to go. I might have a bearish outside bar if 1.3750 is to be taken out.
Thanks again.
  • #98,385
  • May 20, 2009 3:31pm May 20, 2009 3:31pm
Quoting Hasnaa
Sorry but he has to dive to 1.3540 at first !

Trade Well !

And why does he have to dive to 1.3540 first? In order to what?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #98,386
  • May 20, 2009 3:35pm May 20, 2009 3:35pm
I think euro and aussie short might pay off here.
  • #98,387
  • May 20, 2009 3:36pm May 20, 2009 3:36pm
Quoting Hasnaa
Sorry but he has to dive to 1.3540 at first !

Trade Well !

I'll be there... see you.

  • #98,388
  • May 20, 2009 3:46pm May 20, 2009 3:46pm
Help needed!

I heard that Trend is a Friend. I looked for a friend and found two. On is on IH chart and another on daily chart. Both these friends tell me Go North with them.

I have two questions here:
1. Have I correctly interpreted trend?
2. Is it time to go with them?

I am short for now.
The Thief of Wall Street
  • #98,389
  • May 20, 2009 3:53pm May 20, 2009 3:53pm
Trend is your friend until the trend changes.
  • #98,390
  • May 20, 2009 3:56pm May 20, 2009 3:56pm
Quoting GrnEydGuy
Thats great... I put my shorts on after it crossed below 149.50. This will be my first venture into the GpbJpy land... thanks for the tip
dont give me that burden.. below 4910 were safe if equitys down fall continues. if we breach 4958 all bets off..both are s/r we may know soon..i looked at bloomberg futures.. i think info needs to be up dated.. last 2 days equitys fall before close.. maybe traders are getting scared to hold over night. just speculation.. trade what you see.. im bullish on this pair but know there is always a top.. i got green locked in..i would love for it to retrace a few days.. but ill jump back on the long ship just as easy above 4960 ish... as im writing i see it moving up toward 4958... oh well
those who can, do. those who cant, talk about those who can
  • #98,391
  • May 20, 2009 4:00pm May 20, 2009 4:00pm
H&S on the 15m?
  • #98,392
  • May 20, 2009 4:02pm May 20, 2009 4:02pm
Quoting Chicky
Help needed!

I heard that Trend is a Friend. I looked for a friend and found two. On is on IH chart and another on daily chart. Both these friends tell me Go North with them.

I have two questions here:
1. Have I correctly interpreted trend?
2. Is it time to go with them?

I am short for now.
The way I see it...

There's major daily support around the 1.3735 area. There's possible hourly intraday support around 1.3754, it was only tested once though. Looking at the immediate price action it does look like we're drifting higher having fallen short of our previous turn-around at 1.3753.

Therefore, I've gone long with a stop below 1.3753. If it breaks there I would look for a pullback to the 1.3735 area for possible re-entry long or to see if it's going to continue south and start a new trend.

Oh I forgot to mention, now that I put that out there it's sure to drop like a rock. Trade what you see...Cheers!
"The markets are the greatest chess match ever played."
  • #98,393
  • May 20, 2009 4:02pm May 20, 2009 4:02pm
Quoting JgrB
I'll be there... see you.

i was thinkin more 3510 but that just my opinion
  • #98,394
  • May 20, 2009 4:02pm May 20, 2009 4:02pm
Quoting TIckerShuffl
Trend is your friend until the trend changes.
How do trend followers scale up, so that when friend turns into foe, damage is minimum?

1. Add uniformly on every dip
2. Add increasingly
3. Add decreasingly
4. Don't add at all
The Thief of Wall Street
  • #98,395
  • May 20, 2009 4:02pm May 20, 2009 4:02pm
Quoting Chicky
Help needed!

I heard that Trend is a Friend. I looked for a friend and found two. On is on IH chart and another on daily chart. Both these friends tell me Go North with them.

I have two questions here:
1. Have I correctly interpreted trend?
2. Is it time to go with them?

I am short for now.
I have a small long from 1.3770, but following closely and ready to pull the trigger anytime. Probably will go down in Asia session.
I thought the trend was your ennemy, not your friend?

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #98,396
  • May 20, 2009 4:02pm May 20, 2009 4:02pm
Quoting Chicky
Help needed!

I heard that Trend is a Friend. I looked for a friend and found two. On is on IH chart and another on daily chart. Both these friends tell me Go North with them.

I have two questions here:
1. Have I correctly interpreted trend?
2. Is it time to go with them?

I am short for now.
If you look at the daily bar, nearly every significant move up has been followed by an inside bar or near inide bar since the rally started 25 days ago.
This suggests it is not yet safe to go long with a reasonably small SL.
  • #98,397
  • May 20, 2009 4:04pm May 20, 2009 4:04pm
Quoting Bluemeanie
H&S on the 15m?
Yeah, looks like it.
  • #98,398
  • May 20, 2009 4:04pm May 20, 2009 4:04pm
Quoting Tradester
The way I see it...

There's major daily support around the 1.3735 area. There's possible hourly intraday support around 1.3754, it was only tested once though. Looking at the immediate price action it does look like we're drifting higher having fallen short of our previous turn-around at 1.3753.

Therefore, I've gone long with a stop below 1.3753. If it breaks there I would look for a pullback to the 1.3735 area for possible re-entry long or to see if it's going to continue south and start a new trend.
So far, this looks the best option. Thanks Tradester.
The Thief of Wall Street
  • #98,399
  • May 20, 2009 4:06pm May 20, 2009 4:06pm
Quoting TIckerShuffl
Trend is your friend until the trend changes.
hehe, how true is that
Pip Goes The Weasel
  • #98,400
  • May 20, 2009 4:07pm May 20, 2009 4:07pm
Quoting KillerWhale
I have a small long from 1.3770, but following closely and ready to pull the trigger anytime. Probably will go down in Asia session.
I thought the trend was your ennemy, not your friend?

Shamu
It still is, until someone like you help me establish good relationship with trend. Identifying trend is my weaker point, and playin in its direction is the weakest of all.
The Thief of Wall Street
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