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  • #157,121
  • Oct 29, 2009 3:44pm Oct 29, 2009 3:44pm
Quoting ledobedo
yaa me tooset my tp 5pips above its bottom based on fifth wave equaling the third before it turned around..feels good to actually get something righteven if it only happens once a month hah...
btw i short from 850, tp 1.4755 as a target for b leg
I dont believe in move down at this very moment... but wish you luck of course. usually I dont trade during Australia and Tokyo sessions - so propably you are right
  • #157,122
  • Oct 29, 2009 3:50pm Oct 29, 2009 3:50pm
ledobedo : I have looked at the chart - and if I were trying to catch EU now I would propably be watching closer 4810-25 area for long
  • #157,123
  • Oct 29, 2009 3:59pm Oct 29, 2009 3:59pm
Quoting cannarek
I dont believe in move down at this very moment... but wish you luck of course. usually I dont trade during Australia and Tokyo sessions - so propably you are right
ya the daily close looks scary but there is a double top pretty much, second one is bout 10 pips higher...maybe we even get the W next week...but as for now 487sh was 50% of the entire move down..and this pair seems to love the 50%areas...
  • #157,124
  • Oct 29, 2009 4:02pm Oct 29, 2009 4:02pm
Quoting cannarek
ledobedo : I have looked at the chart - and if I were trying to catch EU now I would propably be watching closer 4810-25 area for long
thx man but i ll stick with my original tp..i mean the short is already 30 or so pips in the green so with 50sl i only risk 20 pips which is accetable..i ll see in the morning how it is doing and might close it manually since fridays are crazy!!
  • #157,125
  • Oct 29, 2009 4:04pm Oct 29, 2009 4:04pm
Gold should meet heavy selling in the 1049-1050 area, if not then you've gauged the psychology of the market, I think, 300 pip range with a warzone in the middle.

Everybody knows the GDP is garbage. Just wait a week to see if the big dogs care.
  • #157,126
  • Oct 29, 2009 4:16pm Oct 29, 2009 4:16pm
next interesting area to look for up trend continuation
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  • #157,127
  • Oct 29, 2009 4:21pm Oct 29, 2009 4:21pm
Quoting SerpentDove
Gold should meet heavy selling in the 1049-1050 area, if not then you've gauged the psychology of the market, I think, 300 pip range with a warzone in the middle.

Everybody knows the GDP is garbage. Just wait a week to see if the big dogs care.
Snakey I think the big dogs cared eight months ago. On a side note: how the hell do you manage to end up on the wrong side of the fence so often? (I hope you are not offended by this)
  • #157,128
  • Oct 29, 2009 4:27pm Oct 29, 2009 4:27pm
support first, r next, maybe third time lucky
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  • #157,129
  • Oct 29, 2009 4:37pm Oct 29, 2009 4:37pm
Quoting TheFisherman
Snakey I think the big dogs cared eight months ago. On a side note: how the hell do you manage to end up on the wrong side of the fence so often? (I hope you are not offended by this)
Umm, I don't get it? I was short my basically my whole account from in from 1.5 and took profit at 1.4780

Then I pieced in longs from 1.4760 down to 1.47 and averaged out for a 10% gain on the previous earnings this morning at around 1.4750 only because I had to leave the terminal for an extended period.

Then this evening I walked through short scalps on this thread that I never do, taking profit 6 pips early because it wasn't worth the frustration let the target get hit which it did.

Oh....right, you were joking, I get it.
  • #157,130
  • Oct 29, 2009 4:40pm Oct 29, 2009 4:40pm
EURJPY at crucial levels. we could be building huge down formation... details on my blog
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  • #157,131
  • Oct 29, 2009 4:43pm Oct 29, 2009 4:43pm
Very interesting moves ahead!! Just a matter of time to predict the waves with smart brain
  • #157,132
  • Oct 29, 2009 4:49pm Oct 29, 2009 4:49pm
Options say more $$ strenght on the way
http://www.bloomberg.com/apps/news?p...d=auQ21ARRiqmw
  • #157,133
  • Oct 29, 2009 4:50pm Oct 29, 2009 4:50pm
Quoting SerpentDove
Umm, I don't get it? I was short my basically my whole account from in from 1.5 and took profit at 1.4780

Then I pieced in longs from 1.4760 down to 1.47 and averaged out for a 10% gain on the previous earnings this morning at around 1.4750 only because I had to leave the terminal for an extended period.

Then this evening I walked through short scalps on this thread that I never do, taking profit 6 pips early because it wasn't worth the frustration let the target get hit which it did.

Oh....right, you were joking, I get it.
Good playing. Although I must say you got big balls if you were short your hole account. I guess you buy the beer this week.
  • #157,134
  • Oct 29, 2009 4:56pm Oct 29, 2009 4:56pm
Correct me if I'm wrong but this resuming of the bull trend seems to have started from no apparent S line... Something fishy about it.
  • #157,135
  • Oct 29, 2009 5:00pm Oct 29, 2009 5:00pm
Looks like we are going higher in London session, but after retrace to at least 1.4790. If so, next target after retrace will be 1.500.

Already 130 pips per contract as expetected yesterday, plus some pips scalping. Hope you did so or better.

Good trading for all and good night.
No Signal, No Trade. No fundamenals, No headache.
  • #157,136
  • Oct 29, 2009 5:01pm Oct 29, 2009 5:01pm
Quoting TheFisherman
Correct me if I'm wrong but this resuming of the bull trend seems to have started from no apparent S line... Something fishy about it.
The beauty of the market, always bet that it will do whatever it has to to fudge pack the greatest number of traders at once.
  • #157,137
  • Oct 29, 2009 5:08pm Oct 29, 2009 5:08pm
Range tighter than my a$$ when I am in a losing position. Seems like Asia don't wanna play anymore.
  • #157,138
  • Oct 29, 2009 5:11pm Oct 29, 2009 5:11pm
Quoting SerpentDove
The beauty of the market, always bet that it will do whatever it has to to fudge pack the greatest number of traders at once.
In options, it's called the "Maximum Pain Theory". It actually exists.
  • #157,139
  • Oct 29, 2009 5:12pm Oct 29, 2009 5:12pm
Nighty night all, I'm flat for Friday and staying that way until Tuesday.
  • #157,140
  • Oct 29, 2009 5:13pm Oct 29, 2009 5:13pm
Quoting TheFisherman
Correct me if I'm wrong but this resuming of the bull trend seems to have started from no apparent S line... Something fishy about it.
There is nothing in Forex called "no apparent line". As i mentionned in yesterday's thread here, retrace cycle AB=CD (based on recent valley up to the recent peak on 4Hr) was finished at 1.4705. It went down up to 1.4682 to close an extension down fib level. With that we were in a oversold level. That same lowest level of yesterday was a retrace of 61.8% and at the same time a resistance and hard support in the past. Dow made 50% retrace also (DOW and EU are correlated). Combined, bear took some rest and bull took place.
No Signal, No Trade. No fundamenals, No headache.
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