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  • #114,581
  • Jun 25, 2009 1:35am Jun 25, 2009 1:35am
Quoting psiholog
that was my game plan right before FOMC. It still has not changed. The only difference is that the upper wall of the coral channel was just tapped at a lower value and we seem to have formed a consolidation bear flag during the asian session (blue lines). Having said that..I am currently short...usual 50 pip stop loss and take profit assumes a retest of the lows is likely (1.3900...will take profit at any time though). Lets see now

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Two hours and a half later...we finally broke that coral wall. However we are still within the possible bear flag. My position is still open...only my mentality has changed.

THe previous channels I have erased. THe only thing remaining is that trendline that has acted as resistance to determine whether this break up was false or not. We shall know soon enough with the European open. Secondly...while the bear flag is still in play...I have plotted current strong resistance and support. Those levels are simply the psychological 1.4000 mark and 1.3900 still. If we break the bear flag to the upside...no other instruments I use will be of any value except that given range. A retest of the lows still seems like the most likely course of action and if we do go back down...the downwards channel will come back into play with the upper wall extended.

Sidenote: talk of price manipulation or stop hunting has been of interest lately..we are seeying a perfect example here. If we do indeed go back down...the circle is where this is occuring (would be a false break of the downtrend). Any higher and it is a real break up.

Good pippin all

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Different opinions highly valued, ignorant to slander.
  • #114,582
  • Jun 25, 2009 1:47am Jun 25, 2009 1:47am
Hi,
Daily:
PH: 1.4022
PL: 1.3848
  • #114,583
  • Jun 25, 2009 1:47am Jun 25, 2009 1:47am
long at 1.3981
t.p 1.4000000
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #114,584
  • Jun 25, 2009 1:48am Jun 25, 2009 1:48am
Quoting psiholog
Two hours and a half later...we finally broke that coral wall. However we are still within the possible bear flag. My position is still open...only my mentality has changed.

THe previous channels I have erased. THe only thing remaining is that trendline that has acted as resistance to determine whether this break up was false or not. We shall know soon enough with the European open. Secondly...while the bear flag is still in play...I have plotted current strong resistance and support. Those levels are simply the psychological 1.4000 mark and...
Thank you Psi. You make it clear. I was thinking the same in my morning fog. Don't why but older I'm, more I need time to be really wake up ...
"I will walk before they make me run" K.Richards
  • #114,585
  • Jun 25, 2009 1:52am Jun 25, 2009 1:52am
i am short at 1.3990. anybody also short at that level?
  • #114,586
  • Jun 25, 2009 1:55am Jun 25, 2009 1:55am
Morning all . back after 2 days of struggle with my computer & still not ok . I am already long from this morning from daily chart , tp as high as 1.4146 to even 1.4320 . The bear bat having max d point 1.4146 still there in D1 perhaps to finish first & already retraced 85.4fib % .the great round top or inverted cup & handle may be near over .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #114,587
  • Jun 25, 2009 1:57am Jun 25, 2009 1:57am
Quoting calvk81
i am short at 1.3990. anybody also short at that level?

short at 1.3979 Target 1.3942

Actually, i just exited my trade. haven't seen any indication of direction clear. From GBP it has broken the support level on the rising line, suggesting bear trend. Euro might follow. Need more confirmation before entry again
  • #114,588
  • Jun 25, 2009 1:58am Jun 25, 2009 1:58am
Quoting The Fool
Actually I feel like I would like to crawl in bed, assume a fetal position & pull the covers over my head & stay like that for a week. Might not be a bad idea. The account that I nearly tripled in a little over 7 weeks got a 60% hole blown in it all for just a stupid careless mistake.


It definitely hurts to lose.

I have been there more times than I care to remember! A truly horrible feeling. Runs of wins can be emotionally destabilising in relation to trading if not actively managed.
  • #114,589
  • Jun 25, 2009 2:00am Jun 25, 2009 2:00am
I'll be shorting on the test of 4000 with a view to holding the position to 3850.
  • #114,590
  • Jun 25, 2009 2:06am Jun 25, 2009 2:06am
Morning Notch...and others....Price just broke that nice trenline going up ...but is also testing the TL on hourly chart Psiholog was talking about...it only got to 3980....you still waiting for a retest of 4000 before you short?
  • #114,591
  • Jun 25, 2009 2:07am Jun 25, 2009 2:07am
Quoting IMARICH1
Morning Notch...and others....Price just broke that nice trenline going up ...but is also testing the TL on hourly chart Psiholog was talking about...it only got to 3980....you still waiting for a retest of 4000 before you short?

Yes...probably 3995-4000. There's no point chasing it as there will be more opportunities later.
  • #114,592
  • Jun 25, 2009 2:07am Jun 25, 2009 2:07am
Good morning.
The late northbound trip from yesterday still intact, but butting heads. I think the hooligans are on board Lets see how this plays out. News later today.
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  • #114,593
  • Jun 25, 2009 2:10am Jun 25, 2009 2:10am
morning all , wish every one green day
I SEE YOU !!
  • #114,594
  • Jun 25, 2009 2:10am Jun 25, 2009 2:10am
Thanks for sharing your thoughts to Atlast...i am ready to start trading again...I got gun shy yesterday and was depressed....loaded some charts...studying and watching you and Notch....ready to try again a little less aggressive..thanks to you both....and others who have given good advice.....

The FOOL...let's ride!
  • #114,595
  • Jun 25, 2009 2:14am Jun 25, 2009 2:14am
yesterday's...
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  • #114,596
  • Jun 25, 2009 2:15am Jun 25, 2009 2:15am
Market profile: Below 1.3983 expect 1.3932 then 1.3862. If 1.3862 is taken out with conviction then expect a rapid decent to 1.3772 (weekly PL). If 1.3983 is taken out I expect the price to quickly move to 1.4023 (daily PH) before falling back to 1.3983. If 1.3983 is taken out on the downside then the former levels are back in play.
  • #114,597
  • Jun 25, 2009 2:16am Jun 25, 2009 2:16am
Quoting IMARICH1

The FOOL...let's ride!
Aw hells yeah bro.

I'm skeptical about a long downside breakout on this flag but I am scalping short all the same.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #114,598
  • Jun 25, 2009 2:16am Jun 25, 2009 2:16am
Quoting IMARICH1
Thanks for sharing your thoughts to Atlast...i am ready to start trading again...I got gun shy yesterday and was depressed....loaded some charts...studying and watching you and Notch....ready to try again a little less aggressive..thanks to you both....and others who have given good advice.....

The FOOL...let's ride!

Atlas and notch must be the guru's around here huh?
  • #114,599
  • Jun 25, 2009 2:19am Jun 25, 2009 2:19am
nice move up on the E/G....suggests no bearflag break down on E/U?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #114,600
  • Jun 25, 2009 2:22am Jun 25, 2009 2:22am
Quoting The Fool
nice move up on the E/G....suggests no bearflag break down on E/U?

E/G is currently testing the location of some good supply. I don't expect it to breach the 8543-8552 level.
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