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  • #184,121
  • Jan 24, 2010 2:09am Jan 24, 2010 2:09am
thanks alot bro....
  • #184,122
  • Jan 24, 2010 2:47am Jan 24, 2010 2:47am
Quoting malcolmb14
In this weeks episode of SKY and Macc show Malc tells Sky stop being a muppet and go look what the meaning of bear flag is on babypips.com.

SKY asks why

Malc says well while you are spewing bullshit about how dollar is going to tank there is a lovely one on eu that once broken will net 200 to 400 pip

Attachment

After reading this, I got scared. Really.

A bunch of us buddies invested $40 into USD/JPY short and $10 in EUR/USD long.

I'm think I'm going to lose. OMG!

Thanks for the insight anyway.
  • #184,123
  • Jan 24, 2010 4:10am Jan 24, 2010 4:10am
How about a backtest of that broken flag before a continued fall?
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  • #184,124
  • Jan 24, 2010 6:15am Jan 24, 2010 6:15am
Quoting TaDaT
Recommend a Forex broker to me. A trusted one, not stealing my money.
I use FXCM and IGmarkets.. both are great
  • #184,125
  • Jan 24, 2010 8:03am Jan 24, 2010 8:03am
Quoting Gld
no more malc vs sky......but a new show.....tony vs malc ? i love this place !
I'm actually not arguing with this guy and don't really care what he's doing

selling or buying or whatever.

Just point out some of the

possibilities. Next week traders predict large volatility on the FX Markets,

which means large swings both ways. By the way, if you think Market

would tank again, and USD gets boost against the EURO then think

About EJ for example, Cause YEN would be even stronger than USD, which

means EJ could tank much faster and deeper than EU. I actually LONG EJ

(Will do oppositive what logic is saying)

And will hedge while buying dips. Ones doom and gloom on the Market is

Over YEN will tank fast. I'm taking my positions now. IMHO.

EUR would be probably flat or down till FEB 16 ECB decision on GREECE.

After that EUR should rise. IMHO.
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  • #184,126
  • Jan 24, 2010 8:11am Jan 24, 2010 8:11am
Quoting grashid
Anybody agree that :-

Gold = tanking
US dollar = rocket
Pound = tanking
Euro = rocket
Yen = tumble
USD=rocket and EUR=rocket? How's that possible?

Also GOLD=tanking and YEN=tumble illogical too.

Yen =tumble, only if Market rising, Market rising more likely EUR= rising

and Dollar weak and GOLD up or flat and vise versa that's how I see it.

Just place your bets, FX Casino should be open soon
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  • #184,127
  • Jan 24, 2010 8:17am Jan 24, 2010 8:17am
can some one help me with this as i am tryin to understan this statment. wen pros say sell all rallies what excatly do they mean. whats the entry and exit point. thnaks.
  • #184,128
  • Jan 24, 2010 8:42am Jan 24, 2010 8:42am
Quoting enterfx
Hey, Dropped in after being away for most afternoon. Trading good. Still in my short since the 15th . Cant wait to see what next week holds. Stocks are dropping like stones and will influence currencies as well.

BTW, my son have shorted the S&P index since a month ago. He made over $1500 past couple days alone with fairly small postions. Smart guy.

See you all.
yes me too... still attached in long term trend...but I'm in euro bull for temporary but proceed cautiously as it may reverse to south in no time... looking forward of what will bring onto the table next week but I guess the northern express is almost out of steam.. my guess

Send my congrats to your son... like father like son
Be a sniper not a jumper
  • #184,129
  • Jan 24, 2010 8:57am Jan 24, 2010 8:57am
Quoting enterfx
Some interesting symmetry here.

I'm all for simplicity and mainly do my long&medio term analyzes on higher timeframes. (Daily/H4/H1). Using this simple symmetry analyzes, C Wave first target is in the 3650 area. Most likely we will see a further down move after that.

And it can happen VERY fast. At present we are seeing some temporary correction (could go to 4225 > 4250/80 area), but already by end of next week we could be facing the 1.36x area. Check the chart.

NOTE: the longer time it hangs around current level (below 4181 high), the...
Agree ... if it flat correction, the tp is somewhere.. 3630/50 area but if it zig zag then 3050/80 area... C wave almost every time is devastating..
Be a sniper not a jumper
  • #184,130
  • Jan 24, 2010 9:01am Jan 24, 2010 9:01am
Quoting gatorinla
its a game of probabilty.

the last 9 years of placing a eu long and forgetting about it is over. for the last year we have heard that the fed is printing. over and over again. we hear about this now mostly for political points and it makes good copy. the truth is yes money is being printed, but probably less then before. but lately money printed is more for goverment use then comparibly for private use, like in the past. little was said about other govs printing, but they were and they still are. so the old buy the rumer was alive the last year....
nicely put and very informative... thanks gator
Be a sniper not a jumper
  • #184,131
  • Jan 24, 2010 9:13am Jan 24, 2010 9:13am
Quoting Nomi1
can some one help me with this as i am tryin to understan this statment. wen pros say sell all rallies what excatly do they mean. whats the entry and exit point. thnaks.
i hope you could see what they mean by sell rallies . its mainly when you ve a breakout you wait for the pullback and you get in by either fibs ret or a bias change to the short direction
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  • #184,132
  • Jan 24, 2010 9:19am Jan 24, 2010 9:19am
http://3.bp.blogspot.com/_yUazX16-In...1600/24jan.gif
Above are the continuation of my analysis for EURUSD for daily chart. In 16 Jan 2010, I predict that EURUSD was in Wave 1 formation. My entry strategy is Enter at the Low of the Friday Price (15/01/2010). As a result, the price move in favour and make a movement for 314 PIPS!! The latest Swing Low had been made later at 1.4022 (21/01/2010). I might say that EURUSD may in Wave 2 formation. Below are my EURUSD analysis for next week action.

Currency: EURUSD

Time Frame: Daily

Indicator Momentum: Bearish Oversold but nearly bullish crossover.

Pattern: Possible of Wave 2 of 5 Wave Impulsive Pattern

Price: Bullish Engulfing at Friday Candle (22/1/2010). Beware of false signal, market still very bearish. Price are moving to the Fibonacci 38%.

Entry Strategy 1: Trader may consider long after bullish crossover at the stochastic (Short Term Strategy especially on the smaller timeframe).

Entry Strategy 2: Wait for the completion of Wave 2 before considering short (Long term Strategy)

Just my 2 cents. Trade at your own risk..
  • #184,133
  • Jan 24, 2010 9:31am Jan 24, 2010 9:31am
Quoting SkyzerFX
I'm actually not arguing with this guy and don't really care what he's doing

selling or buying or whatever.

Just point out some of the

possibilities. Next week traders predict large volatility on the FX Markets,

which means large swings both ways. By the way, if you think Market

would tank again, and USD gets boost against the EURO then think

About EJ for example, Cause YEN would be even stronger than USD, which

means EJ could tank much faster and deeper than EU. I actually LONG EJ

(Will do oppositive what logic is saying)

And will hedge...
I believe so, EU will possibly flat until ECB decision and of course unchanged Fed Rate. I believe the only major fundamnetal that will make dollar to strengthen is Fed Rates. So waiting for next NFP to decide. Following COT report, future traders has increase their bet on dollar short, so watch out for longing dollars right now. My strategy until the next NFP will be long EU on dips. Hoping to see 1.38-1.48 range this year.
  • #184,134
  • Jan 24, 2010 9:46am Jan 24, 2010 9:46am
Can someone explain to a newb like me what "tanking" means? Been reading it pretty often since I been into Forex and never really found a good describtion.
  • #184,135
  • Jan 24, 2010 10:22am Jan 24, 2010 10:22am
Quoting SkyzerFX
I'm actually not arguing with this guy and don't really care what he's doing

selling or buying or whatever.

Just point out some of the

possibilities. Next week traders predict large volatility on the FX Markets,

which means large swings both ways. By the way, if you think Market

would tank again, and USD gets boost against the EURO then think

About EJ for example, Cause YEN would be even stronger than USD, which

means EJ could tank much faster and deeper than EU. I actually LONG EJ

(Will do oppositive what logic is saying)

And...
Wow you make a lot of sense in what you're saying. Support you! It was certainly a confidence boost!

Have set a $10 more sell-stop on the USD/JPY and $10 more buy-stop on the EUR/USD, prepared to hold them to till the end of the month if filled.

Hmm. I wonder where that fill shall come from.

Love reading your posts so far. Keep it up!
  • #184,136
  • Jan 24, 2010 10:37am Jan 24, 2010 10:37am
Quoting TrooperCoope
Can someone explain to a newb like me what "tanking" means? Been reading it pretty often since I been into Forex and never really found a good describtion.
How "Dropping like a rock (or any of ur favorite alternatives)" sounds?
  • #184,137
  • Jan 24, 2010 10:44am Jan 24, 2010 10:44am
Bullish convergence on the daily. Watchout for a retracement at least short term (see what happened to cable after the build up of bearish divergence on the hourlies?)
  • #184,138
  • Jan 24, 2010 10:50am Jan 24, 2010 10:50am
Hi ALL,

This my FIRST Post EURUSD & I share e-book about The Original Turtle Trading Rules

Based Story :
At 1983, Richard Dennis & William Eckhardt as ( Legend ) MASTER Traders recruit & trained 12 Students, became a Successful Traders - known as 'turtles'

Link for DOWNLOAD e-book in :
http://www.ziddu.com/download/830734...Rules.zip.html


Please enjoy and Learning...

Best Regard,




Tsar
Attached Image
Always looking the GREAT, never left GOOD Point...
  • #184,139
  • Jan 24, 2010 10:50am Jan 24, 2010 10:50am
Quoting Nomi1
can some one help me with this as i am tryin to understan this statment. wen pros say sell all rallies what excatly do they mean. whats the entry and exit point. thnaks.
It's hard to understand without visualizing it. What you mention applies only when the market is moving upwards or downwards aka a trend making lower lows or higher highs (depending on what timeframe you use) and PA eventually stops for a bit at a semi strong support or resistance level. At that point PA will consolidate the opposite direction of the trend until there is enough momentum to continue making higher highs or lower lows. The correct spots during those consolidation periods are subjective and depends on each traders strategy.

Here is a very simple example of this week's downtrend and where ideal entry point will be...given my analysis, regarding your question. Note that I plan to take this trade as soon as target area is reached...selling the rally at the upper wall with take profit targets at a retest of the lows or a tap of the lower trendline again

Now keep in mind, this is my trading plan and it can change at any time, especially with a gap up or down, or very volatile pa at market open. This is not a trading suggestion, it is just an example of temporary bull rally that provides the better entry short based on my strategy.

Attached Image (click to enlarge)
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Hopefully this will answer your question
Different opinions highly valued, ignorant to slander.
  • #184,140
  • Jan 24, 2010 11:10am Jan 24, 2010 11:10am
Quoting TrooperCoope
Can someone explain to a newb like me what "tanking" means? Been reading it pretty often since I been into Forex and never really found a good describtion.
Google is your friend:

v. tanked, tank·ing, tanks

v. tr.
To place, store, or process in a tank.
v. intr.
Slang To suffer a sudden decline or failure: "Steady investors . . . kept their heads when the stock market tanked in October 1987" (Burton G. Malkiel).
Aslso you might want to know this:tank up
Slang To drink to the point of intoxication.



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