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  • #161,661
  • Nov 15, 2009 7:59pm Nov 15, 2009 7:59pm
Quoting SerpentDove
I just had one of those moments where you log on, see the chart and start selling. Now I gotta figure out why I did that to stay in the trade.

Ahh R1 is a good reason, daily pivot just below the gap is another one.
I did the same thing, taking my first position at 4931 with the gap on my side. Then my resistance was easily broken and I was in a spot of bother. I have manged to rescue back to break even using the R1 pivot with both touches. pretty messy really, not real proud of that. Hourly candles looking good for a bit more downside of the pivot though
BTC Return This Year: na
  • #161,662
  • Nov 15, 2009 8:02pm Nov 15, 2009 8:02pm
Quoting gatorinla
levels i find important. as where we currently are (4965). widder yellow number/lines should be stronger. use if like or throw away.
When you draw that many lines on a chart they all work. I guess that one form on analysis.
  • #161,663
  • Nov 15, 2009 8:07pm Nov 15, 2009 8:07pm
I wonder if Chinese 'talking heads' are any different than other talking heads?
http://www.marketwatch.com/story/dol...dist=bigcharts

If as widely held, China has hundreds of billions of USD reserves, why would they publish stuff like this and then simultaneously renage on the purchase of the IMF gold??? Unless China supports and believes in a strong USD, why would they undermine it and not buy the available gold??
Ah Luv the smell of a good prediction in the mornin!
  • #161,664
  • Nov 15, 2009 8:07pm Nov 15, 2009 8:07pm
I think what we have here is the famous "barking dog"

It's usually a bullish pattern, but I'm going off of recognative observation, not stats.

Takes about 100 bars/candles to form, on any TF, and when it barks, it pops up
and then lies back down and rolls over and plays dead, waiting for you to rub it's tummy.
Attached Image (click to enlarge)
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  • #161,665
  • Nov 15, 2009 8:08pm Nov 15, 2009 8:08pm
many of you speaks of a gap, that not exist
The best thing that can happen to you is to find out where you're wrong.
  • #161,666
  • Nov 15, 2009 8:10pm Nov 15, 2009 8:10pm
Quoting johnthom
When you draw that many lines on a chart they all work. I guess that one form on analysis.
sure they do.. only bad thing on this one is nothing on it is from todays information..(except candles). this chart is pre 1998 and drawn with a formula but throw it away if you like. trade what you see.
those who can, do. those who cant, talk about those who can
  • #161,667
  • Nov 15, 2009 8:11pm Nov 15, 2009 8:11pm
Quoting Driver55
many of you speaks of a gap, that not exist
those who can, do. those who cant, talk about those who can
  • #161,668
  • Nov 15, 2009 8:17pm Nov 15, 2009 8:17pm
Quoting Driver55
many of you speaks of a gap, that not exist
It's a platform anomaly. Like a ghost, some see it and some don't.
The less volume a particular broker does, the more pronounced the "gap" on that platform.

What I think it most closely resembles, if you watch a reuters feed,
is an area that didn't trade much volume and resulted in some prices
that may have been "skipped".

Like if market trades 51-52-51-50-52-55-54-55-56-57-56 and leaves out 53 and 54.
Not much of a gap really, but if it's not too far away, and not too much time has passed,
a fixation on those open tickets begins to develop. Tough to base a trade on something like this though.
  • #161,669
  • Nov 15, 2009 8:21pm Nov 15, 2009 8:21pm
Quoting toshi
It's a platform anomaly. Like a ghost, some see it and some don't.

What I think it most closely resembles, if you watch a reuters feed,
is an area that didn't trade much volume and resulted in some prices
that may have been "skipped".

Like if market trades 51-52-51-50-52-55-54-55-56-57-56 and leaves out 53 and 54.
Not much of a gap really, but if it's not too far away, and not too much time has passed,
a fixation on those open tickets begins to develop. Tough to base a trade on something like this though.
do an experiment... count how many pips the gap is from dp/wp.. then on other side of dp/wp. and equal amount of pips.. i bet both get filled an equal amount of times.
those who can, do. those who cant, talk about those who can
  • #161,670
  • Nov 15, 2009 8:24pm Nov 15, 2009 8:24pm
Quoting Driver55
many of you speaks of a gap, that not exist
It's weekend tradition here.
Not all sins are created equal
  • #161,671
  • Nov 15, 2009 8:24pm Nov 15, 2009 8:24pm
Quoting Driver55
many of you speaks of a gap, that not exist
Your correct, there actually is no gap today except an artificial one created by my MT4 broker caused by them opening their market late. It really was a hasty trade that looked good on first glance.
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  • #161,672
  • Nov 15, 2009 8:24pm Nov 15, 2009 8:24pm
Why is the market hovering around the 1.4950 area? Should I tighten my SL, if so, to where? Its touched 1.4962 twice now (15M)... isnt that indicative of a failure and predictive of bearish pattern?

To recap, ive been long since 1.4830 and 1.4895. My current SL is 1.4927 which is from a 35 TS.
  • #161,673
  • Nov 15, 2009 8:26pm Nov 15, 2009 8:26pm
Quoting gatorinla
do an experiment... count how many pips the gap is from dp/wp.
. then on other side of dp/wp. and equal amount of pips.. i bet both get filled an equal amount of times.

I bet you're right. It's a numbers game. When there's nothing else moving the market, it plays with itself.
  • #161,674
  • Nov 15, 2009 8:26pm Nov 15, 2009 8:26pm
Quoting Driver55
many of you speaks of a gap, that not exist
my broker opens at 6 est, and so it could be due to that.

see attached chart
Attached Image (click to enlarge)
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  • #161,675
  • Nov 15, 2009 8:27pm Nov 15, 2009 8:27pm
Quoting Jay Walker
It's weekend tradition here.
Well Jay,
then I do not want to spoil the tradition and so letīs say that the gap exists
The best thing that can happen to you is to find out where you're wrong.
  • #161,676
  • Nov 15, 2009 8:28pm Nov 15, 2009 8:28pm
Quoting Exsilium
Why is the market hovering around the 1.4950 area? Should I tighten my SL, if so, to where? Its touched 1.4962 twice now (15M)... isnt that indicative of a failure and predictive of bearish pattern?

To recap, ive been long since 1.4830 and 1.4895. My current SL is 1.4927 which is from a 35 TS.
Anything can happen, this is Forex
  • #161,677
  • Nov 15, 2009 8:31pm Nov 15, 2009 8:31pm
That's correct, go to NZD/USD Daily chart, and watch the gap from last weekend, it never closed. So don't expect it will always close.
  • #161,678
  • Nov 15, 2009 8:32pm Nov 15, 2009 8:32pm
Are you here to play gaps or to trade?

What a serious trading has to do with gaps?

ps. Now to talk serious trading, what do you think will we touch 1.2500 first or 1.7500?
The Thief of Wall Street
  • #161,679
  • Nov 15, 2009 8:33pm Nov 15, 2009 8:33pm
Quoting Driver55
Well Jay,
then I do not want to spoil the tradition and so letīs say that the gap exists
Hi Driver, I was asking a few pages back about the gaps, I really did not think they were "real" as I figured it was just my broker. nobody said anything...
  • #161,680
  • Nov 15, 2009 8:35pm Nov 15, 2009 8:35pm
Quoting Chicky
Are you here to play gaps or to trade?

What a serious trading has to do with gaps?

ps. Now to talk serious trading, what do you think will we touch 1.2500 first or 1.7500?

well, if it is a true weekend gap it usually fills. that's all not too important just trying to gather some info.
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