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  • #145,121
  • Sep 22, 2009 12:00am Sep 22, 2009 12:00am
Quoting bamsw
I am... I read your articles at your blog..

thank you buddy... was waiting for the bearish confirmation but the raise up to 1.4700ish earlier was caution..

now it just hovers around the high of 1.4719.. oh well..
  • #145,122
  • Sep 22, 2009 12:00am Sep 22, 2009 12:00am
so what do yall think the euro will do at the open? I think we make a run to 1.4760 R2.

thoughts?
  • #145,123
  • Sep 22, 2009 12:11am Sep 22, 2009 12:11am
Quoting sed34
so what do yall think the euro will do at the open? I think we make a run to 1.4760 R2.

thoughts?
going south....
  • #145,124
  • Sep 22, 2009 12:24am Sep 22, 2009 12:24am
Quoting bamsw
going south....
based on what? technical or fundamental? daily pivot has it up.
  • #145,125
  • Sep 22, 2009 12:28am Sep 22, 2009 12:28am
I went short again, after being long at 1.4640 yesterday.
  • #145,126
  • Sep 22, 2009 12:28am Sep 22, 2009 12:28am
Quoting Platypus
A word of caution for the newbies out there.....


This area is pivotal and very important, it may go down as everybody is expecting or it may be exhausted already since it was tested a few times, and give up this time. In this case price will move violently up and then retrace very slowly, which means margin calls for some and sitting on huge draw downs for a while for others.


If you don't have a system that tells you what to do I would advise you to stay out. This is definitely not a place to GAMBLE.
very true this is a real sucker area
  • #145,127
  • Sep 22, 2009 12:31am Sep 22, 2009 12:31am
closed all my short position....gonna be bloody lol
  • #145,128
  • Sep 22, 2009 12:34am Sep 22, 2009 12:34am
Quoting X.Oden
So are you saying that we all know since we're all typing?

No, I was referring to the gurus that want to teach us all to trade.

Actualy, i got that from a book, maybe i should have put that in quote...

sorry guys.

Actually, I'm a looser, i keep blowing accounts and I will never learn the lesson.

I feed my broker and distribute my wealth...
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #145,129
  • Sep 22, 2009 12:35am Sep 22, 2009 12:35am
Quoting sed34
so what do yall think the euro will do at the open? I think we make a run to 1.4760 R2.

thoughts?
My opinion is, the "powers that run forex" do not want the dollar sitting at the low of the year going into the G20 meeting. I am expecting a pullback to the daily pivot or S1. Why? That's just my short term trading idea.

I think we're seeing the weirdest market in years. News and rumors run crazy... what do you believe?

US wants a higher dollar
US wants a lower dollar
China wants a higher dollar
China wants a lower dollar
EU wants a higher euro
EU wants a lowe euro
China seeling dollars to buy gold

Throw in imports, exports, oil, gold, interest rate decisions, inflation fears, stock markets, risk aversion... I really don't know where it is going long term. Not sure if anyone does. We can all have our ideas though...
  • #145,130
  • Sep 22, 2009 12:36am Sep 22, 2009 12:36am
Quoting sed34
based on what? technical or fundamental? daily pivot has it up.
am curious.. how does pivot show momentum? can explain thanks!
  • #145,131
  • Sep 22, 2009 12:37am Sep 22, 2009 12:37am
Quoting trading801
am curious.. how does pivot show momentum? can explain thanks!
lmao i am also
  • #145,132
  • Sep 22, 2009 12:37am Sep 22, 2009 12:37am
Quoting Liger86
No, I was referring to the gurus that want to teach us all to trade.

Actualy, i got that from a book, maybe i should have put that in quote...

sorry guys.

Actually, I'm a looser, i keep blowing accounts and I will never learn the lesson.

I feed my broker and distribute my wealth...

buddy dont ! money is hard to come by.. maybe you can check my humble article on money management .. hope it helps..

Proper Money Management may be the holy grail for trading
  • #145,133
  • Sep 22, 2009 12:38am Sep 22, 2009 12:38am
There is a positive and a negative interpretation to all the news that's out there. So why bother proving who wants what?

If fed increases rates tomorrow it might only have a weeks effect at the most. And after that everyone is gonna claim that e/u went up or down based on that...

bull
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #145,134
  • Sep 22, 2009 12:39am Sep 22, 2009 12:39am
Quoting eaglestar
3 points
1 that is the coolest thing i have seen in a long time
2 how can i learn that
3 People hate what they don't understand. Please keep posting

What it looks like are similar to gann ellipses is that correct? check out this here http://www.forexfactory.com/showthread.php?t=42407 is it similar?
Most likely there are some common elements which are mathematically grounded. But everything I've done has come out of careful observation and study of price movement. I began picking up the patterned movements in the Daily and 4hr tf, then combined them into one chart. Then I studied how price interacted between the two time frames within the patterned borders. What came out of it was a lot of good predictable entry points for catching large moves, with the occasional violation. Here's a larger piece of the chart which shows movement since May. The violation areas have violet circles over them, only 5, maximum of 100 points. (Looks like another one may be on the way though-one every couple of weeks, so its due). My thread explains it:

http://www.forexfactory.com/showthread.php?t=187060
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  • #145,135
  • Sep 22, 2009 12:41am Sep 22, 2009 12:41am
I can't even get a good trade in ES, just take a look, how do i scalp that?
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ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #145,136
  • Sep 22, 2009 12:44am Sep 22, 2009 12:44am
Quoting Liger86
There is a positive and a negative interpretation to all the news that's out there. So why bother proving who wants what?

If fed increases rates tomorrow it might only have a weeks effect at the most. And after that everyone is gonna claim that e/u went up or down based on that...

bull
A rate increase tomorrow would cause a huge bull dollar move... very long term if nobody else raised rates.

You might want to read about interest rates and carry trades...

http://www.frbsf.org/publications/ec...el2006-31.html
  • #145,137
  • Sep 22, 2009 12:47am Sep 22, 2009 12:47am
this is a critical area if u are out of market then better stay out lol
  • #145,138
  • Sep 22, 2009 12:49am Sep 22, 2009 12:49am
Quoting lapetye
A rate increase tomorrow would cause a huge bull dollar move... very long term if nobody else raised rates.

You might want to read about interest rates and carry trades...

http://www.frbsf.org/publications/ec...el2006-31.html
look at weekly chart and plot the days the FED did a rate change and tell me if it makes sense to a degree that is tradable and repeatable at the same time for future rate changes.
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #145,139
  • Sep 22, 2009 12:52am Sep 22, 2009 12:52am
European stocks are seen opening mildly higher Tuesday, recovering from the profit-taking seen in the previous session.

London's FTSE 100 up 7-10 points at 5142, Frankfurt's DAX up 16.3 points at 5685, and Paris's CAC-40 up 13.8 points at 3826.

( I think we are going to see 1,4765 as a huge resistance today, I would not gone long for it as the chance for just going down is pretty good... Didn't look like the 1,46 area had a good support.....)


Still short from last week...

and by the way about some reading materials,
http://www.forexarticlecollection.com/
http://www.tradingmarkets.com/
http://www.fxstreet.com/education/market-psychology/


But you have all probably been there already
  • #145,140
  • Sep 22, 2009 12:53am Sep 22, 2009 12:53am
I was looking for something earlier yesterday like a pin and then a chance to enter, but didn't see a clear pin.

Even though it did it three times I was totally stubborn waiting for that perfect pin...

ps. those are todays pivot levels, yesterdays were different
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ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
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