I fib. last rise of the U/J. That was the bottom and started the trend line support. I bought when the candle reached the 3rd point(see up arrow). 88.42...
Learnt a few more filters from ur analysis .. Thank you very much !
- #14,161
- Dec 16, 2009 10:27am Dec 16, 2009 10:27am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
Learnt a few more filters from ur analysis .. Thank you very much !
- #14,162
- Edited Dec 17, 2009 2:25am Dec 16, 2009 10:38am | Edited Dec 17, 2009 2:25am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
You like to use traps. that can delay your entries big time depending on the size of the trap.
basically i stick to the basic dow theory, elliot waves, support and resistance, breakouts, chart patterns ... indicators are just to give me added assurance of the probability ... once i am confident with this i might explore the 5min charts ...
i sense that u are an old hand at chart reading ...my humble respects to you... will be a pleasure to read and learn from ur chart analysis ...
- #14,163
- Dec 16, 2009 10:52am Dec 16, 2009 10:52am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
well apart from serious or not, im holding long now mate hehe
nothing sure mate, just try my luck
i've been reading from the forum, analysis and other guys chart so, this is my action.if its go down, i'll short it then.
- #14,164
- Dec 16, 2009 10:58am Dec 16, 2009 10:58am
- | Joined Oct 2008 | Status: Trader | 1,177 Posts
didn't know that it was called trap ..!
basically i stick to the basic dow theory, elliot waves, support and resistance, breakouts, chart patterns ... indicators are just to give me added assurance of the probability ... once i am confident with this i might explore the 5min charts ...
i sense that u are an old hand at chart reading ... will be a pleasure to read and learn from ur chart analysis ...
- #14,165
- Dec 16, 2009 11:09am Dec 16, 2009 11:09am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
i think when it comes to indicators there is a balance...too little, not enough, too many, too much delay...there is a thin line between the 2...
but did u know that we won't be needing the indicators if we are very thorough with the basic dow theory and the elliot waves knowledge ... ?
most indicators are just derived from price and volume .. so just try to read the price chart is good enough ...and like u said " at the end of the day it is still all probability ..
- #14,166
- Dec 16, 2009 12:00pm Dec 16, 2009 12:00pm
- | Joined Oct 2008 | Status: Trader | 1,177 Posts
got to agree with that last statement ...
but did u know that we won't be needing the indicators if we are very thorough with the basic dow theory and the elliot waves knowledge ... ?
- #14,171
- Dec 17, 2009 1:57am Dec 17, 2009 1:57am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
...naked or not, we are using some form of price action, news...whatever to represent something, therefore an indicator...as a chartist i think there is only so much we can interpret ourselves when you are trading at a quicker pace...i have no problem using more information if it does not take away from my opportunity or cause too much delay...i say try and add as much probability as possible...
.. makes sense ...
after all they are all tools ... skillful handling of tools could produce masterpieces ..
wishing you well , good luck ...!
- #14,173
- Dec 17, 2009 6:29am Dec 17, 2009 6:29am
no offence intended ... just a bit concerned ... i am a bit disturbed by ur above postings .. hope u are doing Demo and not playing with real money ... trust me ... TA education is a long drawn affair ...
non taken mate, its ok. thx for your advice. yesterday i've made a lil profit both long and short. The forums post just save my cent account from loses. so once again thx to u and all the guys here
Happy trading archer
Guide me please 
- #14,175
- Dec 17, 2009 10:50am Dec 17, 2009 10:50am
- | Joined Jun 2008 | Status: Trader | 2,013 Posts
Thx archer
non taken mate, its ok. thx for your advice. yesterday i've made a lil profit both long and short. The forums post just save my cent account from loses. so once again thx to u and all the guys here
Happy trading archer
good for u !
don't u think in the long run ... you should learn to ' cross the road ' by ur self .. instead of following others ?...
hope u got what i am hinting at ! ...
all the best !
to win at the end 