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  • #101
  • Aug 18, 2009 8:55am Aug 18, 2009 8:55am
Quoting forexlion
this being the general idea just scalp it on 1 min charts or 5 min
HI Lion how u doing?
Do u think we re going to see 157.9 level today?
  • #102
  • Aug 18, 2009 9:15am Aug 18, 2009 9:15am
Quoting Fede
HI Lion how u doing?
Do u think we re going to see 157.9 level today?
The question is meant for lion but I think I would do you well to answer it.
We are not going to see 157.9 level. Presently we are in a downward channel and price has already done its 61.8 fib retracement (which coincided with S2 for today).
On the 4hour chart, you would see a quasi railway track and that happened just after price hit 61.8 fib retracement on the daily chart. My suggestion is that you take all sell opportunities till 153.10 trading off the 1minute or 5 minute chart.
Happy trading.
  • #103
  • Aug 18, 2009 2:19pm Aug 18, 2009 2:19pm
Quoting forexcompoun
The question is meant for lion but I think I would do you well to answer it.
We are not going to see 157.9 level. Presently we are in a downward channel and price has already done its 61.8 fib retracement (which coincided with S2 for today).
On the 4hour chart, you would see a quasi railway track and that happened just after price hit 61.8 fib retracement on the daily chart. My suggestion is that you take all sell opportunities till 153.10 trading off the 1minute or 5 minute chart.
Happy trading.
good answer, keep up the good job.
  • #104
  • Aug 18, 2009 2:27pm Aug 18, 2009 2:27pm
Quoting forexcompoun
The question is meant for lion but I think I would do you well to answer it.
We are not going to see 157.9 level. Presently we are in a downward channel and price has already done its 61.8 fib retracement (which coincided with S2 for today).
On the 4hour chart, you would see a quasi railway track and that happened just after price hit 61.8 fib retracement on the daily chart. My suggestion is that you take all sell opportunities till 153.10 trading off the 1minute or 5 minute chart.
Happy trading.
Ok excellent !!! Thanks bro !
  • #105
  • Aug 18, 2009 5:50pm Aug 18, 2009 5:50pm
RSI divergence on 1 hour chart. I might take a nibble( short ) with a tight stop. Strong resistance 157-157.10sh. Although daily candle looking a little bullish. I`ll watch it a little more I think.
  • #106
  • Aug 18, 2009 6:06pm Aug 18, 2009 6:06pm
where are forexlion , what new trade now ?
High risk High return!
  • #107
  • Aug 18, 2009 7:05pm Aug 18, 2009 7:05pm
Quoting forexlion
good answer, keep up the good job.

you will not see 157....who told u that....what u smoking
MY OPINION NOT FINANCIAL ADVISE
  • #108
  • Aug 18, 2009 7:29pm Aug 18, 2009 7:29pm
went short 157.47 closed position 157.19. (+28) I`m done for the night.
Took trade based on 5 minute divergence RSI. Had very tight stop. Maybe
should have kept a position open.
  • #109
  • Aug 18, 2009 8:54pm Aug 18, 2009 8:54pm
Quoting donfriday
you will not see 157....who told u that....what u smoking
keep this thread to serious trading, n we bounced off 157, in fact we went a lil above 157 before the bounce.

anyways, we are now headed into 154.66
  • #110
  • Aug 18, 2009 8:56pm Aug 18, 2009 8:56pm
Quoting simao
where are forexlion , what new trade now ?
i never touch the computer before 7 am Indian Time, and the final trade is just around 6 pm Indian time, so in between its like 2 hours on and 2 hours off the set, unless there is a move worth trading.
  • #111
  • Aug 18, 2009 9:03pm Aug 18, 2009 9:03pm
Quoting forexlion
keep this thread to serious trading, n we bounced off 157, in fact we went a lil above 157 before the bounce.

anyways, we are now headed into 154.66
today's range should be well contained at 154.85, cause now we have a daily fractal on daily charts, which is suggestive we might see some uptrends later in the day or during NY session.

so short carefully.
  • #112
  • Aug 18, 2009 9:48pm Aug 18, 2009 9:48pm
Quoting forexlion
today's range should be well contained at 154.85, cause now we have a daily fractal on daily charts, which is suggestive we might see some uptrends later in the day or during NY session.

so short carefully.
Following your threads I start to trust your analysis more than mine ; today, however, I'm inclined to give it another 100 pips to the downside.

On the H4 chart we have a downward TL channel from the peak on August 7. The line in Magenta is yesterday's close (using Alpari with GMT +0). The line in Blue is the close minus the 10-day ATR of 296, coming to 153.86, which coincides with the last bottom on August 17, the bottom on July 29, and also goes right into the congestion zone of mid July. It is also where the daily support line dating back to the bottom of January 23 comes in. The lower trendline of the H4 channel goes below that, giving it room to breathe.

So I think reaching the blue line at 153.86, or at least testing 154 for support, is a possibility today, if price respects the downward channel and breaks through the short-term support of the latest upswing on H4..
Attached Image (click to enlarge)
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  • #113
  • Aug 18, 2009 10:00pm Aug 18, 2009 10:00pm
Here's my analysis for the day
Static deviation levels 157.59/156.70/155.81/154.92/154.03
Trade channel high 157.19
Trade channel low 152.90 (coincides with 38.2 fib retracement on daily chart)
As I post, the 5 and 15 minute tfs show almost oversold condition. I expect to exit my shorts around 155.9x area then get a better entry around maybe 156.4x area within the next 6 hours. After another 6 hours(that's 12 hours from now), we would then have 5, 15 and 30 minute tfs all oversold (i think this is what forexlion meant when he said to be careful of shorts). We should then expect a 12 hour upmove after which the downtrend would resume with 153.2x as target.
Happy Trading!
  • #114
  • Aug 18, 2009 11:16pm Aug 18, 2009 11:16pm
Do forexlion and "serious trading" go together ??
  • #115
  • Aug 18, 2009 11:18pm Aug 18, 2009 11:18pm
Thanks for the great info
  • #116
  • Aug 18, 2009 11:59pm Aug 18, 2009 11:59pm
with 156.30 holding out as support we are slowly inching to 157
  • #117
  • Aug 19, 2009 12:00am Aug 19, 2009 12:00am
Quoting pipmyride
Do forexlion and "serious trading" go together ??
when trading yes, when not trading no
  • #118
  • Aug 19, 2009 12:06am Aug 19, 2009 12:06am
Quoting forexlion
when trading yes, when not trading no

alright brother - lets see if you can stay on topic
  • #119
  • Aug 19, 2009 1:16am Aug 19, 2009 1:16am
Quoting pipmyride

alright brother - lets see if you can stay on topic
and if you cannot contribute anything to this thread, i can ban you from this thread if you wish to stay off topic
  • #120
  • Aug 19, 2009 1:39am Aug 19, 2009 1:39am
Quoting forexlion
and if you cannot contribute anything to this thread, i can ban you from this thread if you wish to stay off topic


you dont have to ban him lion, let keep it cool ....i'll see if i can add some support ok..
MY OPINION NOT FINANCIAL ADVISE
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