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  • #112,221
  • Jun 18, 2009 4:21pm Jun 18, 2009 4:21pm
Hey guys

Is this a temp dble top? targetting 1.30 at extremes?if price can go over 1.4 and close on 5 min candle i may think otherwise....
scale in, scale out
  • #112,222
  • Jun 18, 2009 4:44pm Jun 18, 2009 4:44pm
Quoting rattyo
The 1hr one last night. It worked fine?
Here, I've updated it, same pitchfork with the data up to this morning before it broke down.
The arrow is where I left it, didn't trade after that (bed time).

When it first fell below the median line, it would have alerted that the market would seek the lower track. There was a range around the median line before it finally closed below again. Then the small dohi candle retesting the median line was a perfect plce to short with low risk, and the target was the bottom line so it gave a TP area. When it approached the bottom trendline the probabilities favour a bounce back to the median line. Which it did and TP again reached. And another short down to bottom trendline for profit. Some good trades there, entry and exits if you took them.
When the market finally broke through the bottom trendline, that's the point where a retracking of the market by drawing a new pitchfork comes in. I believe I posted another pitchfork in early session.
Hope that helps. Bear in mind, that I use 60min, 240 min and 3 min to trade, not just 60 min, and daily.
Hope that helps.
Attached Image
  • #112,223
  • Jun 18, 2009 4:45pm Jun 18, 2009 4:45pm
Quoting mohamed

Congratulations, Egypt won the match against Italy





booo.. my backgroung is italian!
  • #112,224
  • Jun 18, 2009 4:45pm Jun 18, 2009 4:45pm
Quoting calderone
Take a day off. Come back fresh.
I've been off, hehe. I would just not trade, but it appears we are in for a decent move in the near term. Rally on today's news seems pretty lackluster, but it was enough to stop me out near the highs (argh).

For tomorrow, perhaps RIMM earnings will weigh on Equities, particularly the NAZ, as forecasts are dismal, and this market needs a reminder about how far it come so fast.
  • #112,225
  • Jun 18, 2009 4:45pm Jun 18, 2009 4:45pm
Quoting traderathome
I know little about "what really moves the market." ....it is PROFITS that matter most! - Just my opinion.
Hmmm, well I had in mind that I might, in time, gain knowledge about that and an associated edge, of course, but if its all just the secret, practically random machinations of super-rich cadres of market manipulators...then I guess I'm screwed.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #112,226
  • Jun 18, 2009 4:50pm Jun 18, 2009 4:50pm
Quoting The Fool
Hmmm, well I had in mind that I might, in time, gain knowledge about that and an associated edge, of course, but if its all just the secret, practically random machinations of super-rich cadres of market manipulators...then I guess I'm screwed.

We're all screwed.
  • #112,227
  • Jun 18, 2009 4:53pm Jun 18, 2009 4:53pm
Quoting TheFisherman
“We spent all morning trying to break $1.40 and got rejected again,” said Brian Dolan, chief currency strategist at FOREX.com - these guys are also retail brokers. I don't get it. When he says "tring to break" he means forex.com or the market? Cause if it's those guys I am really afraid for their retail client's money.
Most likely he meant the market.! he is an experienced guy he is also a co wroter of the book "currency trading for dummy".
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #112,228
  • Jun 18, 2009 4:54pm Jun 18, 2009 4:54pm
Quoting The Fool
Hmmm, well I had in mind that I might, in time, gain knowledge about that and an associated edge, of course, but if its all just the secret, practically random machinations of super-rich cadres of market manipulators...then I guess I'm screwed.
So, if manipulators were in the picture, why we are not going long?
Have some doubts myself, but a break of .3905 could do the trick for scalpers....
Don't be a hero. Don't have an ego. Always question yourself
  • #112,229
  • Jun 18, 2009 4:54pm Jun 18, 2009 4:54pm
See you tomorrow guys. This market is not moving anywhere fast. Hopefully when I start tomorrow it will be at a decent support/resistance to enter a trade. As it should be a volatile day it will present some good opportunities for quick profits.
  • #112,230
  • Jun 18, 2009 4:56pm Jun 18, 2009 4:56pm
Quoting vulture
Most likely he meant the market.! he is an experienced guy he is also a co wroter of the book "currency trading for dummy".
For Dummies By Dummies

http://www.mostlysavingmoney.com/wp-...-Edition-2.jpg
  • #112,231
  • Jun 18, 2009 5:04pm Jun 18, 2009 5:04pm
Pivots from 5pm EST
Attached Image
FUBAR...
  • #112,232
  • Jun 18, 2009 5:04pm Jun 18, 2009 5:04pm
I forgot who, but someone here is expecting 4150+, and i'm with them on it!
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #112,233
  • Jun 18, 2009 5:08pm Jun 18, 2009 5:08pm
Quoting USD-Bear
So, if manipulators were in the picture, why we are not going long?
Have some doubts myself, but a break of .3905 could do the trick for scalpers....
I am long from .3875....and .3970 (groan)

Rescue trade. Mission accomplished above .3910. Worth waiting on a little more upside.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #112,234
  • Jun 18, 2009 5:11pm Jun 18, 2009 5:11pm
Quoting The Fool
I am long from .3875....and .3970 (groan)

Rescue trade. Mission accomplished above .3910. Worth waiting on a little more upside.
.392 is my goal, I'll wait a few minutes for it :-)
Don't be a hero. Don't have an ego. Always question yourself
  • #112,235
  • Jun 18, 2009 5:18pm Jun 18, 2009 5:18pm
Quoting USD-Bear
.392 is my goal, I'll wait a few minutes for it :-)
maybe 10 in this market.............
Don't be a hero. Don't have an ego. Always question yourself
  • #112,236
  • Jun 18, 2009 5:24pm Jun 18, 2009 5:24pm
Quoting Liger86
I forgot who, but someone here is expecting 4150+, and i'm with them on it!
you will hear many once/if it hits..
those who can, do. those who cant, talk about those who can
  • #112,237
  • Jun 18, 2009 5:26pm Jun 18, 2009 5:26pm
It aint going up anytime soon. This baby is going down. Want my reasoning. Bearish divergence on the 4 Hr and it has just bounced off the top of a Falling Wedge.

NE

Quoting Liger86
I forgot who, but someone here is expecting 4150+, and i'm with them on it!
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 27 KB
  • #112,238
  • Jun 18, 2009 5:31pm Jun 18, 2009 5:31pm
Quoting Liger86
I forgot who, but someone here is expecting 4150+, and i'm with them on it!
4175...I've been banging on about it since Monday! Then after Friday I won't post anymore forecasts too much like hard work!
  • #112,239
  • Jun 18, 2009 5:38pm Jun 18, 2009 5:38pm
Quoting mohamed

Congratulations, Egypt won the match against Italy




Our Team Is The Best.

Guys I think another 30 pips short in Euro / Usd can be achieved within the coming 3 hours to reach 1.3875
  • #112,240
  • Jun 18, 2009 5:39pm Jun 18, 2009 5:39pm
Nene your chart looks like a bull flag to me! :/
scale in, scale out
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