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  • #112,281
  • Jun 18, 2009 9:44pm Jun 18, 2009 9:44pm
Quoting FX-Petra
For the most part, over the last 2 weeks, E/U price action has been as follows:

E/U downs have been fast and hard
E/U ups have been slow and steady (with one exception)

Hard moves happen out of 1. Fear/Greed 2. Profit taking

Usually, in the slow times, there has been steady upward pressure.
What does this mean? I'm not sure, but I was fully convinced we would see 1.35xx this month. This slow upward pressure is making me rethink that position. I would be glad to hear any thoughts you guys have on the subject.
Happy trading!
At the moment, with the descending highs and lows, it looks likely that more downside is in store. But that does not preclude PA being stopped in its tracks and jammed up bigtime.
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  • #112,282
  • Jun 18, 2009 9:49pm Jun 18, 2009 9:49pm
The price looks to break 1.3800 or 1.4000 for new trend but the price still yo yo around 2 level price....just my view
  • #112,283
  • Jun 18, 2009 9:51pm Jun 18, 2009 9:51pm
Quoting psiholog
If I knew the answers to these excellent questions I'd be the CEO of some big bank haha. Still...even they probably dont know whats going to happen and when. The only thing I can comment on as I did in my previous post is when changes are likely to happen or better said..reversals (after all they are my specialty).

I do strongly believe the markets are ripe for a wake up call and getting back to reality...things are not much better then 2008 was yet...banks won't be able to bs their way up for much longer and a return to safety may be in play...
Everybody, psiholog, is making a big "to do" over Triple Witching. I'm not unaware of its standing in the options market. And maybe there will be some interesting price movements in some stocks. But let us face it, hedge funds and naked shorting have ruined the US stock market, and so options is more than ever truely a method of insurance rather than profit....except for the manipulators. So, let them manipulate all they want. The manipulators have blown a hole in the hull and are sinking, yet they ramble on of the importance of "this" or "that" as though anyone else but themselves are still onboard!
  • #112,284
  • Jun 18, 2009 9:56pm Jun 18, 2009 9:56pm
Tonight PA is much like last night, with lots of ups and downs, yet going nowhere. They are tradeable due to the size of the range, just like last night. Last night was a night of shorting in preparation for the dump we later saw in the afternoon. Tonight looks like shorting too, so far. I am bearish on this, and not just because the PA remains below the central pivot.
  • #112,285
  • Jun 18, 2009 10:02pm Jun 18, 2009 10:02pm
Quoting traderathome
Everybody, psiholog, is making a big "to do" over Triple Witching. I'm not unaware of its standing in the options market. And maybe there will be some interesting price movements in some stocks. But let us face it, hedge funds and naked shorting have ruined the US stock market, and so options is more than ever truely a method of insurance rather than profit....except for the manipulators. So, let them manipulate all they want. The manipulators have blown a hole in the hull and are sinking, yet they ramble on of the importance of "this" or "that"...
You know you love manipulators...you base your trades on all that they do...you depend on them!...shoot so do I..LOL
Different opinions highly valued, ignorant to slander.
  • #112,286
  • Jun 18, 2009 10:07pm Jun 18, 2009 10:07pm
What a borING session since last 2 days!!

Based on H1, one can say that price is ready to break the trendline and should go down further today.... i'm out for the day!


Good luck guyz
  • #112,287
  • Edited 10:20pm Jun 18, 2009 10:09pm | Edited 10:20pm
Quoting psiholog
You know you love manipulators...you base your trades on all that they do...you depend on them!...shoot so do I..LOL
Yep, without them, volatility would be flushed down the toilet. I get frustrated not because they exist, but because sometimes their machinations take sooooooooo long before the main act. LOL!

I can see why Cobra loves scalping. He probably reached the conclusion and said, "F... it! I'll play their machinations for 8-12 pips 10-40 times a day. Screw them! And, if I happen to be in a trade when their main Act begins, all the better for me!"

Edit: Go Cobra!
Edit: And "the Fool" is trading correctly, all this being considered, imho.
  • #112,288
  • Jun 18, 2009 10:20pm Jun 18, 2009 10:20pm
Quoting traderathome
Yep, without them, volatility would be flushed down the toilet. I get frustrated not because they exist, but because sometimes their machinations take sooooooooo long before the main act. LOL!

I can see why Cobra loves scalping. He probably reached the conclusion and said, "F... it! I'll play their machinations for 8-12 pips 10-40 times a day. Screw them!"

Edit: Go Cobra!


I wonder how many times he sold by now at 1.3915 as that is the high of this range with 4 taps already. This is my second time selling here (first time for 20pips)...but man...Cobra probably scalped short off 1.3915 like 10 times by now..lmao
Different opinions highly valued, ignorant to slander.
  • #112,289
  • Jun 18, 2009 10:21pm Jun 18, 2009 10:21pm
You got it

I'm in the new E/U thread, see you there

Quoting traderathome
I can see why Cobra loves scalping. He probably reached the conclusion and said, "F... it! I'll play their machinations for 8-12 pips 10-40 times a day. Screw them! And, if I happen to be in a trade when their main Act begins, all the better for me!"

Edit: Go Cobra!
  • #112,290
  • Jun 18, 2009 10:41pm Jun 18, 2009 10:41pm
for those whose live revolve around this thread,

here is some fundies from around the world !!

BBC:

US 'prepared' for N Korea missile



The US is "in a good position" to protect its territory from a potential North Korean missile strike, US Defence Secretary Robert Gates has said. His comments came in response to a report that North Korea was considering launching a missile towards Hawaii.
  • #112,291
  • Jun 18, 2009 10:55pm Jun 18, 2009 10:55pm
I would like to stay on long now as ssto day is coming to oversold and standing on hourly trendline
it is testing and waiting for final confirmation on this candle stick any recommendation to change my mind please advise Thanks
  • #112,292
  • Jun 18, 2009 11:04pm Jun 18, 2009 11:04pm
If we are to do a daily retracement, and the fourth wave of five that some people are talking about, this could happened. Also it is similar to the retracement on wave two. According to this a sell in the 1.4050 area which is today's R2 and sometimes acts as reversal.
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  • #112,293
  • Jun 18, 2009 11:33pm Jun 18, 2009 11:33pm
Final analysis before we break one way or the other.
1.3935. This level has had more action in recent days then any other level. It was either strong support..or strong resistance. The chart will show it.

The uptrend started at the lows this week is still intact. Today's wild move down just made the lower wall a little bit bigger. However

That oh so crazy 1.3935 is acting as resistance now..at least keeping pa within range until Euro session. On top of that..pa since the US market seems to have built a Bear flag in the process at the lows.

Conclusion...all signs point south...all my trades are short...future ones and hidden...however until the lower wall of this bigger uptrend gets broken...this is dangerous territory. We go back above 1.3935...Ill be on the sidelines looking for shorts at the upper wall of this uptrend around....1.4050.

Good pippin all (1.3935 the difference between bull and bear)

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Different opinions highly valued, ignorant to slander.
  • #112,294
  • Jun 18, 2009 11:37pm Jun 18, 2009 11:37pm
I agree 1.39350 to break to retest 1.4050 so first TP 1.39350
but currently would not stay on short as hourly is oversold have to keep eyes on bothway
  • #112,295
  • Jun 18, 2009 11:50pm Jun 18, 2009 11:50pm
Also to consider is that the last down move was the first lower low of the weekly upmove. It doesn't mean as much if there was a lower high and then a lower low, but it should be considered.

Quoting psiholog
Final analysis before we break one way or the other.
1.3935. This level has had more action in recent days then any other level. It was either strong support..or strong resistance. The chart will show it.


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  • #112,296
  • Jun 18, 2009 11:52pm Jun 18, 2009 11:52pm
Quoting redrose
I agree 1.39350 to break to retest 1.4050 so first TP 1.39350
but currently would not stay on short as hourly is oversold have to keep eyes on bothway

u see oversold from RSI ?
  • #112,297
  • Jun 18, 2009 11:54pm Jun 18, 2009 11:54pm
Quoting samiru
I also trade like you do,but unlike you i am pretty good at spoting the peaks and valleys.
Before taking a trade i take time to study where i think i would be wrong,then how much i want to lose.After that i divide the amount into multiples like 2,3,4...and place half,when the trade starts going against me i add at some point and the same when it works out well until my stop is hit.This has really worked for me than not but i don't recomend this to newbies most especially if you don't have a plan.
thanks and wish you happy pipping.
Me thinks this youngster is a star in the making.
  • #112,298
  • Jun 18, 2009 11:58pm Jun 18, 2009 11:58pm
No SSTO
14 7 3 is my set up
it might come down for a little move more
  • #112,299
  • Jun 18, 2009 11:59pm Jun 18, 2009 11:59pm
Quoting psiholog
Final analysis before we break one way or the other.
1.3935. This level has had more action in recent days then any other level. It was either strong support..or strong resistance. The chart will show it.

The uptrend started at the lows this week is still intact. Today's wild move down just made the lower wall a little bit bigger. However

That oh so crazy 1.3935 is acting as resistance now..at least keeping pa within range until Euro session. On top of that..pa since the US market seems to have built a Bear flag in the process at the lows....
Psiholog, thank you for a great analysis.....clear, concise, competant.
  • #112,300
  • Jun 19, 2009 12:08am Jun 19, 2009 12:08am
Quoting cobraforex
You got it

I'm in the new E/U thread, see you there

Finally...thanks for pointing..
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