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  • #103,041
  • May 29, 2009 5:07pm May 29, 2009 5:07pm
Quoting Gld
1.4078 @9:51 edt
Thank you so much..
Markets are not Random, they are designed!
  • #103,042
  • May 29, 2009 5:17pm May 29, 2009 5:17pm
Quoting cammomile
In my experience PA frequently breaks through the top line of the channel in an uptrend (and bottom line in the downtrend) and continues to go up (or down) , or it can move across the channel, like it did last week to make some space and move up some more ignoring the top line. Just my observation that PA may ignore the top line especially on the 1h and lower time frames. On the other hand if you go to the weekly TF and do a fib retracement from the last high July 2008 to the low in October 2008, the current PA is approaching 50 fib, which coincides...
Your certainly more knowledgable in this area, but if I look at the last accelerating trend channel price action obays the top of the channel always, only 05/22 was an exeption....
Don't be a hero. Don't have an ego. Always question yourself
  • #103,043
  • May 29, 2009 5:32pm May 29, 2009 5:32pm
Quoting USD-Bear
Your certainly more knowledgable in this area, but if I look at the last accelerating trend channel price action obays the top of the channel always, only 05/22 was an exeption....
Markets are full of exceptions. Look for example on the daily, there was a clear double top formed nicely on the 15th May. On the 18th May PA completely ignored it and went up up and up. There is a thread on FF call "Trade what you see not what you expect". I have to repeat that to myself everyday...
  • #103,044
  • May 29, 2009 5:44pm May 29, 2009 5:44pm
Quoting Petar_Serbia
What do you think friends for Sunday, up or down ? :S
Most likely both
New voice message: Why are you calling me? If I need you, I'll call you!
  • #103,045
  • May 29, 2009 5:46pm May 29, 2009 5:46pm
Hi Shamu,

How are you doing man?
The Thief of Wall Street
  • #103,046
  • May 29, 2009 5:46pm May 29, 2009 5:46pm
Quoting KillerWhale
Most likely both
http://www.forexfactory.com/images/icons/icon12.gif
Don't be a hero. Don't have an ego. Always question yourself
  • #103,047
  • May 29, 2009 5:47pm May 29, 2009 5:47pm
Quoting KillerWhale
Most likely both
It depends on the weather... If it is sunny in London and NY then up, rainy - down. If snowing then we are looking at the sideways movement. I wonder what is the weather in Tokyo will be like...
  • #103,048
  • May 29, 2009 5:57pm May 29, 2009 5:57pm
Quoting Bemac
You must be younger than I thought....
Not THAT old, but high mileage in harsh conditions... and way out of warranty.

The boss thinks I should go to Chucky Cheese with a roll of quarters and play Whackamole for awhile till i get it out of my system.

She's probably right.

Gonna put my hair up in curlers, get a box of bonbons, some limes and a sixpack of corona and watch Gran Torino instead.
FUBAR...
  • #103,049
  • May 29, 2009 6:00pm May 29, 2009 6:00pm
Quoting Chicky
Hi Shamu,

How are you doing man?
Great, thanks.
I had a Killer week that started last Friday.
Made 7% of my account value by just going short / collect / waiting for top / and short again.

What about you?

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #103,050
  • Edited 6:47pm May 29, 2009 6:28pm | Edited 6:47pm
Quoting KillerWhale
Great, thanks.
I had a Killer week that started last Friday.
Made 7% of my account value by just going short / collect / waiting for top / and short again.

What about you?

Shamu
I did ok during the week. I managed to pull back my own 1% first, then about 1.5% from 5% profit that I gave back to market, then again 5% today. So this is the situation for the month:
+5%-5%-1%+1%+1.5%+5% = 6.5% hehe (coincidence?). But the good thing about this whole episode is that I now understand 1) how to go with the trend, and 2) My exposure is less than 1% of my account at any given point of time. I am very happy. Thanks for all your help with advises, tools and charts. It really helped me.

ps. Shamu, I made 5% today on longs. This is a good example, it is not the direction of the market, but the trades that decide the outcome. Two traders go in opposite directions but may produce same results.
The Thief of Wall Street
  • #103,051
  • May 29, 2009 7:05pm May 29, 2009 7:05pm
Quoting Atlast
last time around China started buying like there was no tomorrow because they needed it. Your're saying they're buying now to stockpile? Anyhow makes some sense as china has a lot of US dollars and they have to move it somewhere, not to their own currency, but a safe hoard. I must look at my commodity charts over the weekend.
They are stockpiling and full to the gills, per Rio Tinto earnings report. Rio expected china buying to slow future quarters. Makes sense, buy commodities while dollar is strong. If you don't realize it by now, China controls the world economy.
  • #103,052
  • May 29, 2009 7:05pm May 29, 2009 7:05pm
Quoting crisis
what is your daily high for monday or the daily high for the week ? ?
I want short @ 1.4228 / 1.4240
  • #103,053
  • May 29, 2009 8:07pm May 29, 2009 8:07pm
Quoting ak4x
Not THAT old, but high mileage in harsh conditions... and way out of warranty.

The boss thinks I should go to Chucky Cheese with a roll of quarters and play Whackamole for awhile till i get it out of my system.

She's probably right.

Gonna put my hair up in curlers, get a box of bonbons, some limes and a sixpack of corona and watch Gran Torino instead.


I missed the hole thing, sucks when you leave early. Maybe next time I can be an old fag too man I miss all the good stuff. Have a good weekend all (well maybe not the fag hunter in Dubai)
  • #103,054
  • Edited 11:52pm May 29, 2009 9:47pm | Edited 11:52pm
Quoting knuckledrag
Maybe next time I can be an old fag too

man I miss all the good stuff...

Yeah... well I'm accruing quite a list of distinctive labels. Last year I got called a wanker, and this year an old fag.

Sounds disgusting don't it?

Bring it on you jealous Young Pups...

PS When I plugged the curlers in, somethin went wrong and they blew a breaker. That's why my hair is still a mess. I found some mango flavored moose tho and used that instead. Not bad with a little lime on the side... Still lookin for my teeth tho.

Maybe gator has a spare set I can borrow...
FUBAR...
  • #103,055
  • May 29, 2009 11:23pm May 29, 2009 11:23pm
looks like on sunday/monday we might see some kind of retracement to around 1.4080
  • #103,056
  • May 30, 2009 12:37am May 30, 2009 12:37am
Quoting ak4x
........ Still lookin for my teeth tho. ....Maybe gator has a spare set I can borrow...
I am not sure if this a very good idea. He sometimes lends them to sharks.
The Thief of Wall Street
  • #103,057
  • May 30, 2009 1:51am May 30, 2009 1:51am
Last week my take of the PA deeper retracement to 13620/00 level was stopped short @13790.

Next week is going to be a very interesting week becos we may see a new milestone of Price dynamics as we approach the threshold of a new l/t trend change which is located at 14350 level. If and when it happens then the Daily 200ma will be the new daily lower trend line and we will herald in a renew surge of risks appetite which is predicated that the worst in US may be over.(Most economists may dispute it) As a trader, we have to go and flow with the market sentiments whatever our personal bias may be even though its difficult sometimes to go against our own bias.

Friday closing price is still showing plenty of bullish mojos and based on that level, the dynamic pullback point stands at 14130. My dynamic projection is for price to continue its ascent to the next level at 14265/14350. Any pullback in its current context should be supported by hourly 40ema and if breached will bring on the deeper corrections mode. Whatever the case may be, always follow and trade accordingly to your signposts.

Thats all my trading thoughts for next week for all like minded traders like me and I will also be posting significant updates on PA on a daily basis.

Take care and have a nice weekend all...........
  • #103,058
  • May 30, 2009 3:27am May 30, 2009 3:27am
Quoting 99vt66
Last week my take of the PA deeper retracement to 13620/00 level was stopped short @13790.

Next week is going to be a very interesting week becos we may see a new milestone of Price dynamics as we approach the threshold of a new l/t trend change which is located at 14350 level. If and when it happens then the Daily 200ma will be the new daily lower trend line and we will herald in a renew surge of risks appetite which is predicated that the worst in US may be over.(Most economists may dispute it) As a trader, we have to go and flow with the market...
Very good analysis & I do totally agree . Just seeing the old chart or art work to understand myself.

Thanks ,
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #103,059
  • May 30, 2009 3:44am May 30, 2009 3:44am
As per my calculations Important levels are...4180 then 4249, then 4354 and then 4420...there must be good retrace from any of the above mentioned levels....the most likely of the above mentioned levels is 4354...lets wait and see...!!!

above levels are as per Fibo applied with Elliott wave theory...have a nice week of trading, best of luck all
  • #103,060
  • May 30, 2009 3:45am May 30, 2009 3:45am
Quoting fontu
Very good analysis & I do totally agree . Just seeing the old chart or art work to understand myself.

Thanks ,
fontu
Quite a piece of art.
New voice message: Why are you calling me? If I need you, I'll call you!
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