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  • #190,101
  • Aug 20, 2009 5:13pm Aug 20, 2009 5:13pm
Quoting malcolmb14
I think min 154.50 before any kind of up move .... 15 min shows sellers on...
to support my theory on es dropping tomorrow it seems there was lot of profit taking in the markets at end of day shown on the upthrust into 1007.

also take note of that bear div that formed today ....

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  • #190,102
  • Aug 20, 2009 5:14pm Aug 20, 2009 5:14pm
Don't we have another bull flag forming though suggesting a breakout north through the DP? (on 5m/15m/30m/1hr TF)

I've noticed that we've had these form the last two days.

Quoting malcolmb14
I think min 154.50 before any kind of up move .... 15 min shows sellers on rallies right now ..very clear. This is based on volumes . Also note that es touched 1007 today but there was a distinct lack of buying interest in the fx market to correspond to that

what I think is going to happen tomorrow is that alot of options were calls , and therefore these maybe exercised tomorrow , so there may well be a ton of selling in the stock markets tomorrow.

this will take gj down into the weekend

if we get a 15 min close under 155 then the 1-2-3...
  • #190,103
  • Aug 20, 2009 5:17pm Aug 20, 2009 5:17pm
hey!house,i need advise on what to do,i hav a short trade around 156.194.shold i still hold on it or cut it off?
  • #190,104
  • Aug 20, 2009 5:29pm Aug 20, 2009 5:29pm
A triangle appears to be unfolding since the low was made at 153.44. Triangles are continuation patterns so favor a break below 153.44 before a more important low forms. Short term resistance is at 156.00 and price ideally remains contained by the resistance line drawn off of the August 10th, 13th, and 20th highs.
http://www.forexfactory.com/export/s...ytriangle2.png
  • #190,105
  • Aug 20, 2009 6:27pm Aug 20, 2009 6:27pm
another profile for the last swing (between vertical gray lines). as you can see, the main pivot moved lower from 158 area to where we are right now. 155.40 area.
so the million bucks question is, what's next?

resistance - 156.40 area
strongest resistance - 158.15 area; if this is broken, then we should start buying because this baby is going up again and will test 162/163 area.

next support - 154.16 area; is this makes way, then we can start thinking about buying again @ 150/151.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #190,106
  • Aug 20, 2009 7:01pm Aug 20, 2009 7:01pm
This is where it gets really Technical.....

I am not worried..
Markets are not Random, they are designed!
  • #190,107
  • Aug 20, 2009 7:23pm Aug 20, 2009 7:23pm
please have a look on yen index weekly chart

weekly bullish engulfing candle from strong support
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  • #190,108
  • Aug 20, 2009 7:32pm Aug 20, 2009 7:32pm
Hi Malcolm, any idea whats going on? I love it, but no clue whats doing....
Thanks
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  • #190,109
  • Aug 20, 2009 7:39pm Aug 20, 2009 7:39pm
today is friday Guys

what i can see in the charts is YEN WILL BE THE WINNER..

as u guys know when Yen rallies it doesnt matter where gbp is going

longs be care full as i warned yesterday also..

we may see 153.xx today
and if broker 149 147 is not too far..
Don't compare your Trades with Others
  • #190,110
  • Aug 20, 2009 7:43pm Aug 20, 2009 7:43pm
cable not intrested in my 15m pivot at 6528 REJECTED for now
"Millionaires don't use astrology, billionaires do"
  • #190,111
  • Aug 20, 2009 7:49pm Aug 20, 2009 7:49pm
diverngence on momentum

only two options are avalaible
1 straight down (my prefered scenario)
2 last wave up then big sell off
Attached Image (click to enlarge)
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  • #190,112
  • Edited 8:05pm Aug 20, 2009 7:55pm | Edited 8:05pm
which hole ?

see last news item
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  • #190,113
  • Aug 20, 2009 7:57pm Aug 20, 2009 7:57pm
Quoting azibi
Hi Malcolm, any idea whats going on? I love it, but no clue whats doing....
Thanks

since 7am pst this morning all rallies have been sold off 155.50 . This is the point of control for the last 20 trading sessions.

Japan having issues with exporters it seems they are down .66 % . China follows gj will be at 1st target 154.50.

need to get 15 min closes under 155 ( major number)

here is chart showing sellers all day

completed with a reversal after effort to rise right before tokyo ( my fav mark up gives short away always )

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  • #190,114
  • Aug 20, 2009 8:10pm Aug 20, 2009 8:10pm
Asia continuing where they stop 2 days ago..
  • #190,115
  • Aug 20, 2009 8:19pm Aug 20, 2009 8:19pm
Guys please give advice to a noob. Looks like buying at 6480-6482 on cable, I am assuming this is critical support/resistance zone.

Do you think we will break through?
  • #190,116
  • Aug 20, 2009 8:24pm Aug 20, 2009 8:24pm
Nevermind we just did and drop 10 pips from there! What is target on break of 6480?

I have lines at 6397 and 6400.
  • #190,117
  • Aug 20, 2009 8:30pm Aug 20, 2009 8:30pm
After some TA (technical analysis) saying we are on weekly resistance and with the bearish divergance suggesting the drop, here some Fundamential FACTS..too:

 

  1. Fact 1: Industrial Production has sunk for six straight months in the U.K. Look at the changes year-over-year since January: -12.1%, Feb: -12.7%, March: -12.6%, April: -12.4%, May: -11.9%, July -11.1%
  2. Fact 2: U.K. Manufacturing Production has also dropped for the past six months. Check out these numbers year-over-year since January: -14.0%, -14.1%, -13.4%, -13.2%, -12.8%, -11.7%.
  3. Fact 3: Unemployment keeps rising. Since January the unemployment rates have steadily climbed each month: 6.5%, 6.7%, 7.1%, 7.2%, 7.6%, and 7.8%.
  4. Fact 4: Inflation is dropping, which usually sends Forex traders looking for another higher-yielding currency. But inflation (as judged by the U.K. Consumer Price Index) has been falling since January: 3.0%, 3.2%, 2.9%, 2.3%, 2.2%, 1.8%.
  5. Fact 5: The official U.K. interest rate is 1.5% which is at its lowest since 1694.
    The reason rates are the lowest in 315 years is that the records only go back that long.

Anyone still interested in Pound LONG ??

  • #190,118
  • Aug 20, 2009 8:31pm Aug 20, 2009 8:31pm
Quoting sinner-
Nevermind we just did and drop 10 pips from there! What is target on break of 6480?

I have lines at 6397 and 6400.
was helping the ladies out here is post on gu


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  • #190,119
  • Aug 20, 2009 8:32pm Aug 20, 2009 8:32pm
I was wondering what you successful traders do or did to learn patience. That is my biggest problem. Instead of waiting for the trade to come I try to hop on trades that look good because I'm staring at the charts. I was just wondering how you guys learned to get over that portion of trading.
  • #190,120
  • Aug 20, 2009 8:33pm Aug 20, 2009 8:33pm
Quoting malcolmb14
I think min 154.50 before any kind of up move .... 15 min shows sellers on rallies right now ..very clear. This is based on volumes . Also note that es touched 1007 today but there was a distinct lack of buying interest in the fx market to correspond to that

what I think is going to happen tomorrow is that alot of options were calls , and therefore these maybe exercised tomorrow , so there may well be a ton of selling in the stock markets tomorrow.

this will take gj down into the weekend

if we get a 15 min close under 155 then the 1-2-3...
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