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  • #153,201
  • Oct 16, 2009 7:25am Oct 16, 2009 7:25am
I will wait for the news if positive i will go short as well big time
  • #153,202
  • Oct 16, 2009 7:26am Oct 16, 2009 7:26am
Quoting ledobedo
autochartist is yet another tool that basically just tells you what you should already know if you know how to read your charts and patterns in my opinion..i tried it as well for a month or so with somewhat disappointment as well..for me i prefer drawing triangles etc my self.
Exactly. That is why I said to use with caution. Though, very often is very good at target areas after a complete pattern. Like yesterday and today. I should have closed 1/2 position at target and let the other run. But I preferred to close all 4 pips before target because I have to go in about 5 minutes and was afraid that it will turn against me and will not have the time to follow it.

Bottom line I made 17 pips not lost 17 pips.

See you on Monday.
If you're not part of the solution then you're part of the problem.
  • #153,203
  • Oct 16, 2009 7:26am Oct 16, 2009 7:26am
Quoting viljam
So are we now heading to 1.47
We are....until we're not. LOL

I went short on the breakout, and I'm eyeing a partial profit right now. I'll ride this until PA tells me it's stalling....and then I'll take further cues from the PA....

Edit: Partial profit taken at 1.4858...stop at BE+.
  • #153,204
  • Oct 16, 2009 7:26am Oct 16, 2009 7:26am
Quoting majorusa
Target reached. 1.4866. I exited prematurely

good job
  • #153,205
  • Oct 16, 2009 7:28am Oct 16, 2009 7:28am
'Tenkan Sen' (green 'Turning Line') and 'Kijun Sen' (yellow 'Standard Line') cross inside the 'Kumo' (green 'Cloud').

'Chikou Span' (red 'Delayed Line') is below past close and shows falling prices.

This is a mid signal (strength 3).

JgrB
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  • #153,206
  • Oct 16, 2009 7:34am Oct 16, 2009 7:34am
interesting developments
  • #153,207
  • Oct 16, 2009 7:39am Oct 16, 2009 7:39am
Quoting M1g
Perfect double-bottom forming on H1/H4? This could spell trouble for those of you still holding shorts. Be careful all...
Depends on whether the trendline from the two lows on your chart holds. At the moment, short-term probability favors further advancement downward. However, that could change quite quickly....
  • #153,208
  • Oct 16, 2009 7:40am Oct 16, 2009 7:40am
Quoting majorusa
Exactly. That is why I said to use with caution. Though, very often is very good at target areas after a complete pattern. Like yesterday and today. I should have closed 1/2 position at target and let the other run. But I preferred to close all 4 pips before target because I have to go in about 5 minutes and was afraid that it will turn against me and will not have the time to follow it.

Bottom line I made 17 pips not lost 17 pips.

See you on Monday.

yea they show the targets but the fact that it is automated and all, i think it lacks the little touch. but dun get me wrong it is great program which i used as well. but once i got a little touch i stopped using it..after all those targets dun take into account any major r or s..
for example trade of the week for me was was a triangle on gbpjpy which yeilded me 598pips..just stopped rising 50pips of major R around 149.5...thats something autochartist wud not tell you.
guess what i m trying to tell is dunt rely on such programs but rather do the anylyses your self especially if u relatively new to forex.
SAVING TIME DOES NOT SAVE YOU MONEY!!!
  • #153,209
  • Oct 16, 2009 7:40am Oct 16, 2009 7:40am
Quoting M1g
Perfect double-bottom forming on H1/H4? This could spell trouble for those of you still holding shorts. Be careful all...
it also look like a double top imho..good luck all!
  • #153,210
  • Oct 16, 2009 7:44am Oct 16, 2009 7:44am
Quoting PriceVolume
Depends on whether the trendline from the two lows on your chart holds. At the moment, short-term probability favors further advancement downward. However, that could change quite quickly....

charts vs fundementals ...charts say up, fundementals say down, hopefully they will anyway...20 min to go and we will see who wins
  • #153,211
  • Oct 16, 2009 7:47am Oct 16, 2009 7:47am
Quoting ledobedo
charts vs fundementals ...charts say up, fundementals say down, hopefully they will anyway...20 min to go and we will see who wins
Charts say up?

Ichimoku says down.

JgrB
  • #153,212
  • Oct 16, 2009 7:48am Oct 16, 2009 7:48am
Quoting ledobedo
charts vs fundementals ...charts say up, fundementals say down, hopefully they will anyway...20 min to go and we will see who wins
LOL - Yeah, I don't trade fundies. I just accept that anything can happen at any given moment. I make a decision regarding probability based on the PA on my chart. And that probability adjusts with every tic after a position is open...and I act accordingly.
  • #153,213
  • Oct 16, 2009 7:50am Oct 16, 2009 7:50am
Quoting ledobedo
charts vs fundementals ...charts say up, fundementals say down, hopefully they will anyway...20 min to go and we will see who wins
Chart are always right!
  • #153,214
  • Oct 16, 2009 7:52am Oct 16, 2009 7:52am
Quoting JgrB
Charts say up?

Ichimoku says down.

JgrB
i mean the double bottom on hourly dancing around 1.4855...but no worries to ppl stuck on shorts next week looks south.
  • #153,215
  • Oct 16, 2009 7:53am Oct 16, 2009 7:53am
Quoting cammomile
Chart are always right!
Let`s see if trend and support lines can hold upcoming news
Attached Image (click to enlarge)
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Do not follow the path trodden by human laziness.
  • #153,216
  • Oct 16, 2009 7:54am Oct 16, 2009 7:54am
Quoting PriceVolume
LOL - Yeah, I don't trade fundies. I just accept that anything can happen at any given moment. I make a decision regarding probability based on the PA on my chart. And that probability adjusts with every tic after a position is open...and I act accordingly.
unfortunatelly we cant ignore the fundies...they always seem to mess up with our plans:0
  • #153,217
  • Oct 16, 2009 7:57am Oct 16, 2009 7:57am
Quoting FiXed sense
Let`s see if trend and support lines can hold upcoming news
I have no doubt they can, and always do. Look what took to reverse the long-term trend last time. Surely we are not expecting another recession announcement today, we are in one already.
  • #153,218
  • Oct 16, 2009 8:01am Oct 16, 2009 8:01am
Quoting ledobedo
unfortunatelly we cant ignore the fundies...they always seem to mess up with our plans:0
Actually, I completely ignore fundies. I do keep an eye on the schedule for major news release, though. If a release is close, I won't open a trade...and if I'm in a trade, like now, I'll ram my stoploss close so I don't bleed profit if it goes against me. But you also have to remember that since I trade the low timeframes, I'm looking to "fit to the curve", so to speak.
  • #153,219
  • Oct 16, 2009 8:08am Oct 16, 2009 8:08am
Quoting PriceVolume
Actually, I completely ignore fundies. I do keep an eye on the schedule for news release, though. If a release is close, I won't open a trade...and if I'm in a trade, like now, I'll ram my stoploss close so I don't bleed profit if it goes against me.

that is certainly one way to do it...i on the other hand keep close track of the fundementals, note most of them down with their effects on the markets...i even traded the cad cpi news today by having two orders 15pips apart from the market price, 65 pips in green right now but i m keeping that trade as it has potential to go more, i hope
  • #153,220
  • Oct 16, 2009 8:11am Oct 16, 2009 8:11am
i were long but not sure any more ....
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