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  • #154,821
  • Oct 21, 2009 6:27pm Oct 21, 2009 6:27pm
Quoting Chicky
Just entered a eur/usd long.

There is so much in this shopping arcade at the moment that I feel short of money to buy everything, even one lot each.
here's something to cool you off: see pic

i would have sold the e/u and bought the dow. Make some pretty sure $ until tomorrow.
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  • #154,822
  • Oct 21, 2009 6:28pm Oct 21, 2009 6:28pm
hmmm, that 'other' thread is so exclusive I can't even click post, but I used to be able to. I guess I get to hang out here with the lovely riff raff for the rest of the year
----- Dragonfly out in the sun you know what I mean, don't you know
  • #154,823
  • Oct 21, 2009 6:28pm Oct 21, 2009 6:28pm
As Support
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  • #154,824
  • Oct 21, 2009 6:32pm Oct 21, 2009 6:32pm
Quoting sinner-
Err so this would be the third time I've pointed out that I'm not using EW to predict where the price is going? I simply want to know which wave we are in, and trade in the direction of that wave. I don't know where it will go, or how long it will take to get there.

For example, if I was actually trading E/U now that I believe wave 5 is complete or near complete, I would be looking for signs of selling to take shorts from.

how do you know which wave we are in if the trend hasn't been completed? thats why i say EW can only be applied after the fact hmm
  • #154,825
  • Oct 21, 2009 6:32pm Oct 21, 2009 6:32pm
Quoting TheFisherman
here's something to cool you off: see pic

i would have sold the e/u and bought the dow. Make some pretty sure $ until tomorrow.
Quite probable, but still probable.

My edge is trend and it collects bill before saying goodbye. Don't you want me to pay for the service?
The Thief of Wall Street
  • #154,826
  • Oct 21, 2009 6:34pm Oct 21, 2009 6:34pm
Quoting Chicky
Quite probable, but still probable.

My edge is trend and it collects bill before saying goodby. Don't you want me to pay for the service?
I'm tired man... but since I like you buddy I'm gonna ask you a question: if your edge is the trend and you just bought, where's the dip?
  • #154,827
  • Oct 21, 2009 6:41pm Oct 21, 2009 6:41pm
Quoting mfoste1
how do you know which wave we are in if the trend hasn't been completed? thats why i say EW can only be applied after the fact hmm
I know we are in or near the end of wave 5 because the oscillator has diverged from the price. This is also confirmed by the previous up wave (wave 3) was the highest peak on the oscillator.
  • #154,828
  • Oct 21, 2009 7:06pm Oct 21, 2009 7:06pm
Quoting TheFisherman
I'm tired man... but since I like you buddy I'm gonna ask you a question: if your edge is the trend and you just bought, where's the dip?

The trend can pretty much "always" be found if you look at other timeframes you know...
  • #154,829
  • Oct 21, 2009 7:07pm Oct 21, 2009 7:07pm
The rate of climb until UK opens perhaps.....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #154,830
  • Oct 21, 2009 7:12pm Oct 21, 2009 7:12pm
1.50 is holding for now. we're above the monthly r1. if we do dip i don't expect a break of 1.4950
  • #154,831
  • Oct 21, 2009 7:12pm Oct 21, 2009 7:12pm
Quoting realjumper
The rate of climb until UK opens perhaps.....
Doesn't that look more like H&S?
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  • #154,832
  • Oct 21, 2009 7:16pm Oct 21, 2009 7:16pm
Quoting Larseg
Doesn't that look more like H&S?
Yes, I mentioned that a couple of pages back. Not sure that I believe h & s on an M15 chart though.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #154,833
  • Oct 21, 2009 7:27pm Oct 21, 2009 7:27pm
Quoting mfoste1
i think EW is a load of sh*t. it can only be applied after the fact. Sure after a trend is over u can sit down and say yea theres the 5th final wave, but while in the trend do you really know where a price is going by basing your analysis on waves? no. I have rarely seen accurate EW predictions, if any...

-"You cant control the markets, but you can control yourself."
I'm on board with that.

m
  • #154,834
  • Oct 21, 2009 7:28pm Oct 21, 2009 7:28pm
Quoting TheFisherman
I'm tired man... but since I like you buddy I'm gonna ask you a question: if your edge is the trend and you just bought, where's the dip?
1.5000 is the dip.

No matter where it goes, will keep on coming back to this level for quite sometime. It is the magnet for many traders because of uncertainty above and below this level. But it won't be prudent to keep all eggs in this basket alone.
The Thief of Wall Street
  • #154,835
  • Oct 21, 2009 7:31pm Oct 21, 2009 7:31pm
Quoting realjumper
Yes, I mentioned that a couple of pages back. Not sure that I believe h & s on an M15 chart though.....
Ok
Yes, I agree that 15M isn't the best H&S...
But I do believe that oil has reached a top (since OPEC like a price between 60-80)...

Keeping my trade from yesterday (long)... But feel a bearish dip...After that dip I will move SL 100 pips from spot price...
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  • #154,836
  • Oct 21, 2009 7:36pm Oct 21, 2009 7:36pm
Anyone with a crystal ball for the Chinese data? Should shake things up either way...
  • #154,837
  • Edited 7:42pm Oct 21, 2009 7:38pm | Edited 7:42pm
Quoting mfoste1
i think EW is a load of sh*t. it can only be applied after the fact. Sure after a trend is over u can sit down and say yea theres the 5th final wave, but while in the trend do you really know where a price is going by basing your analysis on waves? no. I have rarely seen accurate EW predictions, if any...

-"You cant control the markets, but you can control yourself."
All technical analysis is useless apparently
http://www.businessinsider.com/its-o...t-work-2009-10 "we do show that over 5,000 trading rules do not add value beyond what may be expected by chance when used in isolation."
original research paper here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1181367
----- Dragonfly out in the sun you know what I mean, don't you know
  • #154,838
  • Oct 21, 2009 7:40pm Oct 21, 2009 7:40pm
Read the char.
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  • #154,839
  • Oct 21, 2009 7:40pm Oct 21, 2009 7:40pm
Quoting sophiaphia
crazy or not, right now all charts say purchase more eurusd at 1.5013 keep hedging shorts : 0
5035 yay! 504 TP initial
----- Dragonfly out in the sun you know what I mean, don't you know
  • #154,840
  • Oct 21, 2009 7:49pm Oct 21, 2009 7:49pm
Quoting sophiaphia
All technical analysis is useless apparently
http://www.businessinsider.com/its-o...t-work-2009-10 "we do show that over 5,000 trading rules do not add value beyond what may be expected by chance when used in isolation."
original research paper here: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1181367
"A new global study has confirmed that article is rediculous.... why do ppl waste their time writing this stuff
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