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  • #127,401
  • Jul 31, 2009 1:09pm Jul 31, 2009 1:09pm
Quoting trading801
or 1.42 like a magnet but after london when vol is lower hee

anything may happen ahah

oh well... i did not put a position
  • #127,402
  • Jul 31, 2009 1:12pm Jul 31, 2009 1:12pm
Is it safe to go back in this water(short @ 1.4264)? Short term trade only as I favour LONGS after this week
FF = Forex Faggots
  • #127,403
  • Jul 31, 2009 1:13pm Jul 31, 2009 1:13pm
  • #127,404
  • Jul 31, 2009 1:13pm Jul 31, 2009 1:13pm
Wow vertical madness!

Anyway I just wanted to focus for a minute on, no, don't worry, not circles, (opened my own thread for that, so if your interested in keeping up on that little experiment you can find it in interactive trading), but instead the predominant chart pattern which is of course a triangle.

First I just wanted to point out the obvious, that this expanding triangle that we are in is actually bearish in character. From the median line which is about 4230, the lower low we just established is 130 points down. The previous higher high was 75 points up. Even if we hit the next logical higher high, at 4338, its still less of a deviation from the center line as the last low. If we did hit that mark, the next logical low would be 3900.

So all I'm trying to say is that we have a bearish pattern which can look decievingly bullish, which probably has a lot to do with the fact that the highs we are testing are in territory not too often seen, compared to the lower ground which is old news.

Wishing everybody a safe weekend.
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  • #127,405
  • Edited 1:29pm Jul 31, 2009 1:18pm | Edited 1:29pm
Quoting cobraforex
The G/U trade?

Got stopped out with -1%

But no biggy, we had some good trades in E/Y and E/U this week.

Have a great weekend all.
me 2 with 2 pips.. gonna try it again maybe... looking at the $ index.. will it bounce or not is a big question..gu hitting a long term upper trend line.. may be lots of whip saws on all u.s. pairs.. until mind made up..this is a cross road.. .. im selling tops and buying valleys till something pops.. oh and still bearish after this move. lets see where it stops..
those who can, do. those who cant, talk about those who can
  • #127,406
  • Edited 1:35pm Jul 31, 2009 1:25pm | Edited 1:35pm
Quoting Alihuzaifa
its rare to see every one crying and beating their chest...but any ways thats call life

where is chikky?i am curious to know whats his status?
I am right here bro. Sleeping.
Woke up to see my screen, initially thought it must be some pair other than EUR/USD because map was totally different.

Looked at the spike up, then checked my 1/2 short position entered for few pips before going to bed. It was in closed trades, surprisingly TP. Sold at 1.4129 and TP at 1.4098.

Even if I was awake, would have stayed away from this up move. Now short on daily with 1/4th of usual position, will add shorts upto 1.4400 with a planned average above 1.4300.*

That is the brief for now.

Ps. * Tp somewhere in the basement.
The Thief of Wall Street
  • #127,407
  • Jul 31, 2009 1:26pm Jul 31, 2009 1:26pm
Quoting stevefx
Wow vertical madness!

Anyway I just wanted to focus for a minute on, no, don't worry, not circles, (opened my own thread for that, so if your interested in keeping up on that little experiment you can find it in interactive trading), but instead the predominant chart pattern which is of course a triangle.

First I just wanted to point out the obvious, that this expanding triangle that we are in is actually bearish in character. From the median line which is about 4230, the lower low we just established is 130 points down. The previous higher...
your trendlines have no technical significance my friend, learn to connect all the wicks not make it look like the way YOU want it to look like if you catch my drift.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #127,408
  • Jul 31, 2009 1:28pm Jul 31, 2009 1:28pm
I'm in there again, is a risk (coutertrend) but with a good R/R relation, if I don't trade those oportunities, better I don't trade.

At the end I got only a better entry, lol.

Quoting gatorinla
me 2 with 2 pips.. gonna try it again maybe... looking at the $ index.. will it bounce or not is a big question..gu hitting a long term upper trend line.. may be lots of whip saws on all us pairs.. until mind made up..this is a cross road.. .. im selling tops and buying valleys till something pops..
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  • #127,409
  • Jul 31, 2009 1:30pm Jul 31, 2009 1:30pm
I like your analysis. thanks for sharing

Quoting stevefx
Wow vertical madness!

Anyway I just wanted to focus for a minute on, no, don't worry, not circles, (opened my own thread for that, so if your interested in keeping up on that little experiment you can find it in interactive trading), but instead the predominant chart pattern which is of course a triangle.

First I just wanted to point out the obvious, that this expanding triangle that we are in is actually bearish in character. From the median line which is about 4230, the lower low we just established is 130 points down. The previous higher...
Close your eyes when you feel you are going under.
  • #127,410
  • Jul 31, 2009 1:31pm Jul 31, 2009 1:31pm
Quoting djambazov84
your trendlines have no technical significance my friend, learn to connect all the wicks not make it look like the way YOU want it to look like if you catch my drift.
I don't know how to draw good technical trendlines, this is true. The numbers I am using are the numbers we've established however, and support my very general statement. The lines are there just to give perspective on that statement. Have a good weekend...
  • #127,411
  • Jul 31, 2009 1:38pm Jul 31, 2009 1:38pm
Quoting stevefx
I don't know how to draw good technical trendlines, this is true. The numbers I am using are the numbers we've established however, and support my very general statement. The lines are there just to give perspective on that statement. Have a good weekend...

cool, let me give you an example, this is usd/jpy h4 chart, had you been short from the top you would have your exact take profit level at the 4th touch of the trendline. of course this is hindsight but this gives a very concrete price level and you dont want to bet whether it will be broken or not. this stuff is very precise and this is why i have it drilled down in my head that every single 1/10 of a pip of a wick matters. it just sizes up the whole market breadth. the problem with randomly, curve-fitted trendlines is that they might and will most likely give you a very false impression of what is happening which is likely due to our imagination. that could work a lot against us. i see here a lot of people drawing the craziest trendlines and seeing h&s everywhere from the 1min to the weekly timeframe, when the problem is to correctly identify whether there is a pattern AT ALL. see how many times half of the thread was screaming h&s only to have a nasty surprise. have a great weekend you too my friend !
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #127,412
  • Jul 31, 2009 1:40pm Jul 31, 2009 1:40pm
I have noticed PA usually dies down toward Market close on Friday-many traders close their LONGS to avoid any surprises over the weekend-this recent super spike up on Eur/Usd should retrace(somewhat) and I hope to gain 10 pips or so before Market close. Anyone else play this way?
FF = Forex Faggots
  • #127,413
  • Jul 31, 2009 1:43pm Jul 31, 2009 1:43pm
Quoting djambazov84
cool, let me give you an example, this is usd/jpy h4 chart, had you been short from the top you would have your exact take profit leve at the 4th touch of the trendline. this stuff is very precise and this is why i have it drilled down in my head that every single 1/10 of a pip of a wick matters. it just sizes up the whole market breadth.
Ok i got you. I redrew the triangle that way, and if you extend the lines back to the center, it actually makes the median 4245, a full 15 points higher than I thought. Which makes the triangle of course more bearish in character than I even described. Thanks for the help!
  • #127,414
  • Jul 31, 2009 1:44pm Jul 31, 2009 1:44pm
Inserted Video


got a monthy candle to close .. so we might get movement.. here a little something to fill the time
those who can, do. those who cant, talk about those who can
  • #127,415
  • Jul 31, 2009 1:45pm Jul 31, 2009 1:45pm
Quoting stevefx
Ok i got you. I redrew the triangle that way, and if you extend the lines back to the center, it actually makes the median 4245, a full 15 points higher than I thought. Which makes the triangle of course more bearish in character than I even described. Thanks for the help!

go ahead and share the chart i want to see and compare to mine because i think i have the exact same game plan as well
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #127,416
  • Jul 31, 2009 1:48pm Jul 31, 2009 1:48pm
Quoting Chicky
Just curious, this 78% guy is not me right?

My aim is 1% a day, some good some not so good days make it about 5% to 6% a month, better than previous less than 3% a month and before that several blown accounts. Someday it is going to be 15% a month on average.
Good luck Chicky.

It's fun to tell about your positive trading results, but as soon as you do, someone here will say you are a liar. Post some balance sheets from your broker? Somebody will say you photoshopped 'em.

I once lived in a small town on the West Coast (Philomath, Oregon) that, at the time, had the most millionaires per capita of any town in the USA. I'd be out for breakfast at a cafe and somebody would point to a scruffy old dude drinking coffee and say, "See that guy? He's worth like $100 million!" Scruffy old dude would get up, pay his tab, and drive off in a old beater pickup truck. And they were all like that - scruffy old timber barons rolling in $millions. Understatement is a common thread amongst the truly wealthy people I have known. If you really have money, you don't need anybody's validation or approval....hell you don't need it if you're poor either.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #127,417
  • Jul 31, 2009 1:49pm Jul 31, 2009 1:49pm
Yes, after second touch of R5 with divergence, but that's the last one for this week.

Quoting 8fingers
I have noticed PA usually dies down toward Market close on Friday-many traders close their LONGS to avoid any surprises over the weekend-this recent super spike up on Eur/Usd should retrace(somewhat) and I hope to gain 10 pips or so before Market close. Anyone else play this way?
Attached Image (click to enlarge)
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  • #127,418
  • Jul 31, 2009 1:51pm Jul 31, 2009 1:51pm
Quoting djambazov84
go ahead and share the chart i want to see and compare to mine because i think i have the exact same game plan as well
Alrighty, here it is...
Attached Image (click to enlarge)
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  • #127,419
  • Jul 31, 2009 1:53pm Jul 31, 2009 1:53pm
Quoting gatorinla
got a monthy candle to close .. so we might get movement.. here a little something to fill the time
Thank you gator....I feel edified.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #127,420
  • Jul 31, 2009 1:59pm Jul 31, 2009 1:59pm
Quoting stevefx
Alrighty, here it is...
now the weird thing is that projected price onto the upper trendline shows...you guessed it 1.4330. if on the next trading day market breaks the high just 3-4 hours after it has opened (that would be assie/asian session) and contiunes juust a wee bit more and then stops abruptly it is usually a big red flag that price has been marked up by market makers and i would short the sh*t out of it. example: look what happened to gbp/usd 2 days ago when it broke the low of the previous day just few hours after market opened. not during london or ny but the Assie session ! now look where it is

a possible outcome could be a rapid price mark up on monday breaking today`s high on suspicious volume right to that upper trendline.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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