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  • #3,681
  • Jun 11, 2009 1:39pm Jun 11, 2009 1:39pm
Quoting Baba G
can you see the battle?

did you take that "pin" on cable short....did u.....you know who you are..
..let me know

we can talk about it.......g

im telling you short usd its the only way...........wait for price action!
  • #3,682
  • Jun 11, 2009 2:04pm Jun 11, 2009 2:04pm
anyone ever heard of imagiflation.....its here!!!
  • #3,683
  • Jun 11, 2009 4:16pm Jun 11, 2009 4:16pm
Quoting strat
el duende, I haven't forgotten you, I'm just waiting for the end of the week as I may have more to show you then (there again, maybe not!)
So, is the weekly Shooting Star last week off the 50% retrace and .7880 SR zone and 50sma from the monthly a sucker candle? It could offer excellent RR ratio as PA has retraced into last weeks candle and is 80 pips short of the 'pin high'.

All depends on your dollar view which is still short imo - so do the indices hold the answer? 1hr S/Star on Dow this afternoon I I was only looking not trading the 1hr)- and a daily Star/Doji - toppy looking chart?? - are the last hour moves the traces/foot prints of the pro's? - and it looks like it may have been a fakey break out? Week close will tell us all, but I still can't see a reason to 'long the buck'?
Trade less and become more profitable!
  • #3,684
  • Jun 11, 2009 5:25pm Jun 11, 2009 5:25pm
Quoting strat
Corbett, don't worry, keep asking, this is the only way you will learn.

Everything you say is correct but until the highs and TL are broken we remain in a downtrend. What may be confusing you are the two consolidation areas which I highlighted. The first is when the credit crunch hit the fan and USD lost its direction for a time and the one we are going through now where sentiment on the USD seems equally divided between the buyers and the sellers.

Whenever there is confusion, all we can do is stick with the technicals. If sentiment changes...
Thanks Strat.

I didn't recognize those areas as consolidation, so hats off.
I don't think I am second guessing the market, just on the lookout. These consolidations and countertrends are what have sucked me in, in the past. Now I am trying to recognize them before they run me over.

Occassionally I still get the feeling of missing out. This is exactly when I know that I need to go read that little piece of paper many of us have on the computer monitor. My patience is developing.

Patiently waiting for the Queen to share her grail.

Now, back to my F12 button.

Gracias.
  • #3,685
  • Jun 11, 2009 7:43pm Jun 11, 2009 7:43pm
Quoting Baba G
can you see the battle?

did you take that "pin" on cable short....did u.....you know who you are..
..let me know

we can talk about it.......g
The weekly one ?
I think that raped a lot of people - i am lucky i took profits early (in hindsight only a good thing !)
  • #3,686
  • Jun 11, 2009 7:50pm Jun 11, 2009 7:50pm
Hi All,

I have a little price action trade on gbpchf on June 05. Price had a hard rejected @ 7700 level and came back down past 7260 support level but strong closed above it and 20. My entry was above the June 05 candle. The candles after entry candle had shown strong sign of testing 7710 high so I hold on to the trade. Today candle closed above 7710 but little weak so I have moved my stop below today candle. O.K Strat, let me have it, I am ready.
Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 19 KB
  • #3,687
  • Edited 5:54pm Jun 12, 2009 2:52pm | Edited 5:54pm
Or not ...
Looks like a lot of stuff is right where we were last week. And still the indices are going sideways ...

The US dollar index hit a double bottom and a 61.8fib level this morning and the dollar had a good rally off it. A very good reason to keep an eye on the dollar index if you are able to.

New balls please ...

I finally closed the last of my USDCAD short today after I thought it made a higher low on the daily.
I held this trade for 7 and a half weeks, my longest ever trade. I'm not sure I can do the rock&roll story for it but I will post a chart this weekend with my reasonings.
Big thank you Strat for introducing me to this way of trading.

Have a good weekend all.
  • #3,688
  • Jun 12, 2009 3:43pm Jun 12, 2009 3:43pm
Quoting elitejets
Or not ...
Looks like a lot of stuff is right where we were last week. And still the indices are going sideways ...

The US dollar index hit a double bottom and a 61.8fib level this morning and the dollar had a good rally off it. A very good reason to keep an eye on the dollar index if you are able to.

New balls please ...

I finally closed the last of my USDCAD short today after I thought it made a lower high on the daily.
I held this trade for 7 and a half weeks, my longest ever trade. I'm not sure I can do the rock&roll story for...
Excellent stuff Nic; truly excellent - you have managed to leap ahead as a trader and jump many on the path to consistency. I'm reading a book by Al Brooks currently and I can't recommend it enough to everyone - as I read the first chapter I really thought ' this must be Strat' - I had to check the cover again. It took Al 10 years to become profitable; he went thru the indicator and paid system mill only to come out at the other end realising there was only one way to trade - Price Action.

I love his quote:
"Usually in trading, those that know don't talk - those that talk don't know'

He also said that you will only ever become profitable when you find a trading style that matches your personality. He spent 10,000 hrs studying indicators and whilst he admits that some traders make money from them, they are generally a waste of time - the true action lies in PA!

I'm only on chapter 1 but I really am finding it a joy - and all thanks to Strat for showing me the way.
Have a good weekend all,
Grim
Trade less and become more profitable!
  • #3,689
  • Jun 12, 2009 7:14pm Jun 12, 2009 7:14pm
Quoting Grimweasel
So, is the weekly Shooting Star last week off the 50% retrace and .7880 SR zone and 50sma from the monthly a sucker candle? It could offer excellent RR ratio as PA has retraced into last weeks candle and is 80 pips short of the 'pin high'.

All depends on your dollar view which is still short imo - so do the indices hold the answer? 1hr S/Star on Dow this afternoon I I was only looking not trading the 1hr)- and a daily Star/Doji - toppy looking chart?? - are the last hour moves the traces/foot prints of the pro's? - and it looks like it may have...
Actually my beilief is that the currency flows predict the indexes.
  • #3,690
  • Jun 13, 2009 12:39am Jun 13, 2009 12:39am
Hi guys, haven't posted in a while

Anyone think the bearish trend of the USD is ending? At least it seems to be slowing down for sure since we failed to get a higher high or lower low this week depending on the pair.

I'm not eager to short it soon but there might be some possibilities to look out for depending on what happens next week

Heres what I'm seeing

A head and shoulders pattern forming on EURUSD, I would want the price to go below the 1.3800 neckline area and retest it before going short. The price could still very well go up but I think this is showing that more bears are coming back in. Please correct me if my reasoning is wrong.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd jun13.gif Size: 34 KB


Also a possible double top forming on AUDUSD and GBPUSD. You can clearly see price being rejected by the 0.8240 area for the second time. We would want a further move down from this level to form a real double top and a break below 0.7830ish area before considering shorts.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd jun13.gif Size: 29 KB


I think I might be talking a bit early and since this is a pretty strong trend the patterns might not be completed and will mean nothing but I guess this is something to watch out for.
  • #3,691
  • Jun 13, 2009 3:13am Jun 13, 2009 3:13am
brothers and sisters....nothing changed at all.......we are back at last weekend.....


all my thoughts are all the same......im short usd and waiting.....the usdcad weekly doji says it all..........

patience of a saint.....sullocks try the patience of a trader.....now were talking

Gggggg
  • #3,692
  • Jun 13, 2009 3:16am Jun 13, 2009 3:16am
Quoting Grimweasel
So, is the weekly Shooting Star last week off the 50% retrace and .7880 SR zone and 50sma from the monthly a sucker candle? It could offer excellent RR ratio as PA has retraced into last weeks candle and is 80 pips short of the 'pin high'.

All depends on your dollar view which is still short imo - so do the indices hold the answer? 1hr S/Star on Dow this afternoon I I was only looking not trading the 1hr)- and a daily Star/Doji - toppy looking chart?? - are the last hour moves the traces/foot prints...
Grimbo the answer will be in price action hold hold hold
  • #3,693
  • Jun 13, 2009 3:17am Jun 13, 2009 3:17am
Quoting AstonDan
I was reading a thread on another forum about Market Makers and one of the posters (an ex-MM i think) said: "Giants leave big footprints."

I love this - do you want to be following those footprints or get caught underneath them?

I know where i'd rather be
me tooooooo!
  • #3,694
  • Jun 13, 2009 3:26am Jun 13, 2009 3:26am
Quoting Naws
Hi guys, haven't posted in a while

Anyone think the bearish trend of the USD is ending? At least it seems to be slowing down for sure since we failed to get a higher high or lower low this week depending on the pair.

I'm not eager to short it soon but there might be some possibilities to look out for depending on what happens next week

Heres what I'm seeing

A head and shoulders pattern forming on EURUSD, I would want the price to go below the 1.3800 neckline area and retest it before going short. The price could still very well go up but I...
good observations....i dont think this push is over its just whip sawing the newbies.......the bearish weekly bars are under serious pressure cause when it breaks...if it breaks i hope it will be a new dawn....but no Zulus..

But we got price action (when she shows up) and the break of that bearish weekly action to go with it cause then we get the power of the bullish bars coming through....dont forget the dblhc on the usd yen.......its all to play for....
  • #3,695
  • Jun 13, 2009 3:29am Jun 13, 2009 3:29am
we had a good trading 2 weeks ago.....come on we dont want to push it!!
  • #3,696
  • Jun 13, 2009 3:33am Jun 13, 2009 3:33am
Quoting elitejets
Or not ...
Looks like a lot of stuff is right where we were last week. And still the indices are going sideways ...

The US dollar index hit a double bottom and a 61.8fib level this morning and the dollar had a good rally off it. A very good reason to keep an eye on the dollar index if you are able to.

New balls please ...

I finally closed the last of my USDCAD short today after I thought it made a higher low on the daily.
I held this trade for 7 and a half weeks, my longest ever trade. I'm not sure I can do the rock&roll story for it but...
7 and a half weeks....yeah right...wateva.......
  • #3,697
  • Jun 13, 2009 3:36am Jun 13, 2009 3:36am
Strat we gotta give that girl a pick (for lieing) and a GREAT TRADE.......
  • #3,698
  • Jun 13, 2009 3:39am Jun 13, 2009 3:39am
shall we all swap skypes (members only)?
  • #3,699
  • Jun 13, 2009 3:41am Jun 13, 2009 3:41am
come on give me % on that bad boy....i want to pretend i did it!!
  • #3,700
  • Jun 13, 2009 7:23am Jun 13, 2009 7:23am
I have no conflict re: my bullish view of dollar-yen versus a continued overall sense of dollar bearishness. I see it simply as a reversal of risk aversion flows. A look at the M/W/D and, yes, even the 4-hour USDJPY chart is revealing. EURJPY is similar. At some point, the ride should become easier and quick, rather than the annoying chop of the last few weeks.
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