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  • #147,841
  • Sep 29, 2009 4:33pm Sep 29, 2009 4:33pm
Quoting gatorinla
if we spike,,, levels that may be good short entry 4611 19 35dp 37 62
why do you think there ll be a spike?
Pation is the Holy Grail
  • #147,842
  • Sep 29, 2009 4:42pm Sep 29, 2009 4:42pm
Quoting realjumper
I'll be looking for a short entry at 4600 or close to it.....

keeping it simple are we?

But if we break the double bottom at 1.4590 isn't that a possible breakout upwards?
  • #147,843
  • Sep 29, 2009 4:44pm Sep 29, 2009 4:44pm
Quoting Larseg
keeping it simple are we?

But if we break the double bottom at 1.4590 isn't that a possible breakout upwards?
look at this
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Pation is the Holy Grail
  • #147,844
  • Sep 29, 2009 4:49pm Sep 29, 2009 4:49pm
The red circled area in the chart below gives me some concern. The green spot maybe good for a short.

I have decided to short this pair up to 1.4500 or just below that level. Long before it gets upto 1.4600
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The Thief of Wall Street
  • #147,845
  • Sep 29, 2009 4:51pm Sep 29, 2009 4:51pm
Quoting Larseg
keeping it simple are we?

But if we break the double bottom at 1.4590 isn't that a possible breakout upwards?
Keeping it simple? Absolutely!

For me, any upward breakout would have to occur north of 4600, and it would have to get there in a hurry, rather than just creep up on it. It's hard to be sure in this session though.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #147,846
  • Sep 29, 2009 5:10pm Sep 29, 2009 5:10pm
Eh, I'm out of my long for now...30 measly pips...for an all day ride.....humbug!
In Charts We Trust!
  • #147,847
  • Sep 29, 2009 5:11pm Sep 29, 2009 5:11pm
What happend before may or may not happen again or at least in identical manner, is one of my basic market movement assumption.

A break to the up may or may not be steep one. Sometimes pa is in a hurry to touch a level only to bounce off from it with the same speed. Sometimes it moves slowly but breaks the level. Countless possibilities.

Following four obseravations make me "feel" longs are safer than shorts or shorts without careful pa reading are unsafe.

ps. I think 1.4700 deserves some more respect and pa is trying its best to give due respect to this level before it does anything else.
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The Thief of Wall Street
  • #147,848
  • Sep 29, 2009 5:12pm Sep 29, 2009 5:12pm
I doubt it will go up...both short term and long term Time Frames are on a downward bias....mid range charts 15min/30min are up but weakning on momentum

Quoting realjumper
Keeping it simple? Absolutely!

For me, any upward breakout would have to occur north of 4600, and it would have to get there in a hurry, rather than just creep up on it. It's hard to be sure in this session though.....
In Charts We Trust!
  • #147,849
  • Sep 29, 2009 5:16pm Sep 29, 2009 5:16pm
Lots of confluence at the sundry levels.

You never see this.

I'm selling any move above .4600.

I'll buy (small) any move towards support, S1 and monthly support.

Mike
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  • #147,850
  • Sep 29, 2009 5:18pm Sep 29, 2009 5:18pm
I'm now short EUR again....
1.4579
In Charts We Trust!
  • #147,851
  • Sep 29, 2009 5:23pm Sep 29, 2009 5:23pm
Quoting Chicky
<snip>A break to the up may or may not be steep one. Sometimes pa is in a hurry to touch a level only to bounce off from it with the same speed. Sometimes it moves slowly but breaks the level. Countless possibilities.</snip>
You're right, there are countless possibilities. If the PA doesn't touch 4600 or close to it and I miss a trade, well, I didn't lose anything either! if it does get to my mark, I still need to see a reason to short it. Just because it 'got there' is not enough of a reason for me.

It seems that during this ANZAC/Asian session, nothing might happen or else lot's might happen.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #147,852
  • Sep 29, 2009 5:23pm Sep 29, 2009 5:23pm
Quoting realjumper
Keeping it simple? Absolutely!

For me, any upward breakout would have to occur north of 4600, and it would have to get there in a hurry, rather than just creep up on it. It's hard to be sure in this session though.....

That's good (that you KISS) in the end the price can only go 2 ways so why complicate it...


I like that you mentioned the speed it need to have also, true indicator of big bucks (institutional) traders...

lets sit back and enjoy


posting a chart i posted yesterday and why I am sticking to the long trade...(results)

I look at the weekly pivot for this method...
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  • #147,853
  • Sep 29, 2009 5:40pm Sep 29, 2009 5:40pm
lets get this thing to 4600 and let us all short the hell out of it
Pation is the Holy Grail
  • #147,854
  • Edited 6:04pm Sep 29, 2009 5:41pm | Edited 6:04pm
Quoting realjumper
You're right, there are countless possibilities. If the PA doesn't touch 4600 or close to it and I miss a trade, well, I didn't lose anything either! if it does get to my mark, I still need to see a reason to short it. Just because it 'got there' is not enough of a reason for me.

It seems that during this ANZAC/Asian session, nothing might happen or else lot's might happen.
Me too, never grumble on missing a trade or even losing one. Profits on individual trades for me are Sales and losses are Cost of Sales. Sometimes I get my inventory on credit but many times pay for the cost in advance of sales.

If it has to go down sharply, should not let a resistance become a support. Going above 1.4600 may jeopardize down plans of the pa, hence lesser possibility of a down move (or delay) if resistance becomes support.

All depends on pa reading with every option handy for a re-visit before we skillfully click our luck and let market play it out.
The Thief of Wall Street
  • #147,855
  • Sep 29, 2009 5:45pm Sep 29, 2009 5:45pm
Quoting CzechTrade
lets get this thing to 4600 and let us all short the hell out of it
Agree also MACD in 1h chart is showing that soon we might see small run by bears

I will wait a bit more to make short's i think we might see 4590 ... seems like not sure but if look gold then its coming slightly down as well.

cheers and good night
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  • #147,856
  • Sep 29, 2009 6:23pm Sep 29, 2009 6:23pm
as far as I can read 1h chart a descending channel is forming with a top within 1.4600/1.4620 area.
Chances pa touch this area before a run down is high,don't know if it has enough strenght to substain a move higher than this.
  • #147,857
  • Sep 29, 2009 6:32pm Sep 29, 2009 6:32pm
Let's have a moment of silence for all those people who have the grave misfortune of only being able to trade during the "Asian Session"....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #147,858
  • Sep 29, 2009 6:40pm Sep 29, 2009 6:40pm
Quoting The Fool
Let's have a moment of silence for all those people who have the grave misfortune of only being able to trade during the "Asian Session"....

Inserted Video


Sorry, not so silent!
Not all sins are created equal
  • #147,859
  • Sep 29, 2009 6:49pm Sep 29, 2009 6:49pm
Quoting The Fool
Let's have a moment of silence for all those people who have the grave misfortune of only being able to trade during the "Asian Session"....
Promised to myself a few days ago that will never trade again in assian session. But sometimes this session presents very good opportunities, if one is looking for entry or exits and not to start and conclude a trade within this session. I don't suggest one should not, but this session is more like a transit spot.
The Thief of Wall Street
  • #147,860
  • Sep 29, 2009 6:50pm Sep 29, 2009 6:50pm
Quoting Jay Walker

Sorry, not so silent!

your rude!!!!!!!
Good news (maybe) or not
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