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Pivots and Trends with the JPY

  • #101
  • Nov 23, 2009 7:03pm Nov 23, 2009 7:03pm
Quoting chonchy
Guys you are going to have to excuse us because Dove is not feeling well, neather I'm I, he is 64 allready...
what timeframes were u using in the charts u posted?

hope u & dove_alliance are feeling better...
eat a lot more fruits & vegetables
  • #102
  • Nov 23, 2009 7:06pm Nov 23, 2009 7:06pm
Quoting chonchy
the low power of the hour is going to make dificult to pass the EMA at 4920, but asia at 8.00 may have a puch to take it to the next pivot, I'm taking profit at the 4929 and then reenter at the retrace if it retrace if not I will just enter when I can for the next 4895 M2 we will see how this develop

Attachment

Buddy you really do need to go get better. Yes your trade looks good to me, but a couple days off should make the would look brighter.

We'll wait. If you can't stand not trading--- at least take a break from posting. I'm going to bed soon myself (another long day tomorrow).
  • #103
  • Nov 23, 2009 7:08pm Nov 23, 2009 7:08pm
Quoting chonchy
anyways I being short from the 4996 and add here at 4950 if it retrace at the 4929 PP I'll add some more, good luck
I had my short from 1.4973, and closed it at 1.4941. The lower BB on the 2-hour chart is providing strong support right above the daily PP, plus I noticed that more than often EUR makes corrections to 5-10 pips short of the daily PP. I am sitting out of the trades now until the 2-hour BB opens for the down move. If not, we'll have more consolidation, imho
"Luxury is one of the basic needs", (c), Don Corleone
  • #104
  • Nov 23, 2009 7:19pm Nov 23, 2009 7:19pm
Quoting Firstboss
Well, I see 2 possibilities with oil: it will go up, but if not - it will go down :-)

Seriously speaking, imho, there is a bullish candle formation on the WEEKLY chart below:

I see here that the proce wen north through a historically significant level, as well as the first fibo retracement level, and formed four squeezed candles (that's my unofficial term :-) ) right above these levels.
This tells me that a new momentum is being built above these new support levels.
Therefore, I'll dare to name the oil price between $80 and $90 in the coming...
Yes and I know its not all the rage yet, but a correction showing dollar strength (consolidation) above 1.43--- is a possibility. With any dollar correction---should come oil weakness.

Long term---- dollar should tank until the FED changes rates. When that happens (Fed rate hike) commodities tank.
  • #105
  • Nov 23, 2009 7:34pm Nov 23, 2009 7:34pm
Agreed, I am talking about oil going up on the weekly time scale. The candle configuration is exactly the same as the one earlier, in april of this year (same chart). There was some correction in May followed by a strong push north.

As for Fed raising rates - that's also true, but with the current amount of the federal debt it will lead to prohibitively expensive cost of borrowing and longer term lowering of the US A credit rating.
"Luxury is one of the basic needs", (c), Don Corleone
  • #106
  • Nov 23, 2009 7:53pm Nov 23, 2009 7:53pm
Quoting Firstboss
Agreed, I am talking about oil going up on the weekly time scale. The candle configuration is exactly the same as the one earlier, in april of this year (same chart). There was some correction in May followed by a strong push north.

As for Fed raising rates - that's also true, but with the current amount of the federal debt it will lead to prohibitively expensive cost of borrowing and longer term lowering of the US A credit rating.
I personally think we will see the FED taking over (for what ever reason they give) healthy banks (holders of tarp money) just before they torpedo the market with a rate hike. A chance to get out just before the crash.

And yes ---prohibitively....screw the little guy... is the plan
  • #107
  • Nov 23, 2009 8:01pm Nov 23, 2009 8:01pm
Quoting knuckledrag
I personally think we will see the FED taking over (for what ever reason they give) healthy banks (holders of tarp money) just before they torpedo the market with a rate hike. A chance to get out just before the crash.

And yes ---prohibitively....screw the little guy... is the plan
In a fair uncorrupt system that's what they should've done last fall, in my opinion.
Pick a bank with the most developed branch network out of Citi, Chase, Bank of America, let it go bankrupt over the weekend, and take federal control over it. Then provide liquidity to private creditors through that bank, rather than letting bank speculators loot the money without any accountability, and no credit flow as a result.

Aftre the crisis is over it could've been privatized with profit.
"Luxury is one of the basic needs", (c), Don Corleone
  • #108
  • Edited 8:37pm Nov 23, 2009 8:19pm | Edited 8:37pm
Quoting Firstboss
In a fair uncorrupt system that's what they should've done last fall, in my opinion.
Pick a bank with the most developed branch network out of Citi, Chase, Bank of America, let it go bankrupt over the weekend, and take federal control over it. Then provide liquidity to private creditors through that bank, rather than letting bank speculators loot the money without any accountability, and no credit flow as a result.

Aftre the crisis is over it could've been privatized with profit.

Big but----- not the plan. In order to increase the money supply a bailout was needed. This provided stability, and a problem. How to maintain a currency without triple digit interest. Simple---buy commodities (run the market up) through the banking institutions your providing money to. Next take the bank over, and for the good of the Nation, cut its exposure to risky investments.

When you increase interest rates everyone suffers, but your a hero for making sure the banks are sound. I know I'm a nut
  • #109
  • Nov 23, 2009 9:29pm Nov 23, 2009 9:29pm
Quoting knuckledrag

When you increase interest rates everyone suffers, but your a hero for making sure the banks are sound. I know I'm a nut


woah there! Stop with these illogical and radical ideas your spewing here.... what do you want? The everyday men and women to gain from all of this? ARE YOU MAD?

If only we ruled the world eh?

P.S When my army of robotic flying monkeys are finished and I launch my evil plan for world domination I'll make sure to leave you a spot at the head of the Global Bank of Evilgoat.

Carry on
Goat
  • #110
  • Nov 23, 2009 11:18pm Nov 23, 2009 11:18pm
Quoting supremeChaos
what timeframes were u using in the charts u posted?

hope u & dove_alliance are feeling better...
eat a lot more fruits & vegetables
thanks supremeChaos, we appriciate that

one hour supreme that is a one hour chart, but we look for the sinc of multiples time frames, one hour , two hour and daily, entrie true the 15M and 20, sort of like the cobra system wish is very powerfull for this reason, one time frame can give you a signal while the other one will opouse it, once they are sinc then the signal is more powerfull

fruits and vegys ah, I like that diet bether that my doctor's seven thousand pills
The Chonchy
  • #111
  • Nov 23, 2009 11:27pm Nov 23, 2009 11:27pm
Quoting knuckledrag
Buddy you really do need to go get better. Yes your trade looks good to me, but a couple days off should make the would look brighter.

We'll wait. If you can't stand not trading--- at least take a break from posting. I'm going to bed soon myself (another long day tomorrow).
thanks knuckles, I'm going to bed now too have a good long day tomorrow
The Chonchy
  • #112
  • Nov 23, 2009 11:38pm Nov 23, 2009 11:38pm
Hi Chonchi

Do you have any news from Dove?

Is he getting better?

Have a great trading session
  • #113
  • Nov 23, 2009 11:54pm Nov 23, 2009 11:54pm
Quoting cobraforex
Hi Chonchi

Do you have any news from Dove?

Is he getting better?

Have a great trading session
he is doing a little bit bether cobra, thanks he will appriciated, amainzing about this pivot points ah, Dove always make enfasis in this , "when price embarc from one pivot to the other, it will always get there, here is price at the 4929 mark to the pip amainzing, a good trade from the central, twice today almost

Attached Image (click to enlarge)
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The Chonchy
  • #114
  • Nov 23, 2009 11:56pm Nov 23, 2009 11:56pm
Quoting chonchy
......
fruits and vegys ah, I like that diet bether that my doctor's seven thousand pills ..
yes, most medicines are from plants, fruits, herbs anyway... so better get healthy via the source, the natural way
  • #115
  • Nov 24, 2009 12:04am Nov 24, 2009 12:04am
Quoting supremeChaos
yes, most medicines are from plants, fruits, herbs anyway... so better get healthy via the source, the natural way
more healthy and at the end sheaper because the cost of medicine today
The Chonchy
  • #116
  • Nov 24, 2009 1:32am Nov 24, 2009 1:32am
and another hit to the pip, to the next pivot, wow, this pivots points

carefull with the exaustion guys let it breath, let it take some air and then get in again after the retrace

Attached Image (click to enlarge)
Click to Enlarge Name: 8HOUR.GIF Size: 60 KB


Attached Image (click to enlarge)
Click to Enlarge Name: dayly.GIF Size: 60 KB
The Chonchy
  • #117
  • Nov 24, 2009 1:40am Nov 24, 2009 1:40am
GM all - I hope cronchy and The Dove are feeling better.

I held my remaining short from yesterday afternoon with my TP at todays DP +5 - LOL, you can aready see how I'm remembering Dove's teaching from 2 years ago http://cdn.forexfactory.com/images/icons/icon14.gif That TP was hit early in the Asian session

Now having seen the action of cable, Euro and swissy around their DPs, just before FO I sold cable as it retraced towards its DP, actually turning back south off its 5m 30 ema (that's my favourite type of entry)

My target is the area of the S1 / 6500 confluence....
Trading Levels with WRBs
  • #118
  • Nov 24, 2009 1:54am Nov 24, 2009 1:54am
that EMA 100 on the one hour broken could be a posible run down me think, retrace to the 4929 and later a run for the S1 perhaps, do you think it will have the power to do that today islander?
The Chonchy
  • #119
  • Nov 24, 2009 1:59am Nov 24, 2009 1:59am
never mind Islander, you answer my question at the same time i was asking you wow what a coincidence ah!
The Chonchy
  • #120
  • Nov 24, 2009 2:23am Nov 24, 2009 2:23am
Quoting chonchy
never mind Islander, you answer my question at the same time i was asking you wow what a coincidence ah!
LOL - agreed....

I also believe in booking some profits, especially in Frankies Hour as its well known for reversals!

Here, I wasnt concentrating and didnt have my audio alert set, otherwise I'd have taken some profits as my EMA histogram showed bullish divergence on the slightly lower low - I know we can "see" that without the indy, BUT the indy acts as a visual alert and also forms a part of my trading rules....

I did add another short when price pulled back again to the 5m 30 ema - the magenta line is a 150ema on this TF....and yes, I still have my TP just above the S1 / 6500 level.....there's plenty of news due, so we can expect volatility.....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 24 cable 1 min lo.gif Size: 19 KB
Trading Levels with WRBs
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