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  • #189,781
  • Edited 9:35am Feb 4, 2010 9:23am | Edited 9:35am
The shallow correction of the decline from 1.4581 suggests selling pressure will remain strong. Standard measurements put targets in the low 1.30s and worse.




There may be resistance in the 1.3760 area and again near 1.3900.

Weekly S 1 = 1.3860



From - Elliot Wave International
Fools Rushing
  • #189,782
  • Feb 4, 2010 9:23am Feb 4, 2010 9:23am
Quoting TudorJonesJR
total chaos now! spain 5.6 procent down
then it will be even bigger impact tomorrow after the NFP
  • #189,783
  • Feb 4, 2010 9:23am Feb 4, 2010 9:23am
.3757 target still looking good right?



Quoting TudorJonesJR
total chaos now! spain 5.6 procent down
One good turn gets most of the blankets.
  • #189,784
  • Feb 4, 2010 9:25am Feb 4, 2010 9:25am
i don't know. I'm short ES shortterm target 1066
  • #189,785
  • Feb 4, 2010 9:26am Feb 4, 2010 9:26am
eur/gbp is about to take a big dump
  • #189,786
  • Feb 4, 2010 9:27am Feb 4, 2010 9:27am
good morning sorry post should have been general..
Thanks
Randy


Quoting TudorJonesJR
i don't know. I'm short ES shortterm target 1066
One good turn gets most of the blankets.
  • #189,787
  • Feb 4, 2010 9:28am Feb 4, 2010 9:28am
Quoting Optimum
I long at 3834 0,50lot
Long add. avg : 3807 Total : 1 Lot *long-term*
  • #189,788
  • Feb 4, 2010 9:29am Feb 4, 2010 9:29am
AUD/USD becoming more sensitive to drops in GOLD after the 8735 hit and passed...
  • #189,789
  • Feb 4, 2010 9:30am Feb 4, 2010 9:30am
If the DOW runs down (more likely when) another 40pts it will open a new series of stops pushing it down below the key 10k figure (IMO).
  • #189,790
  • Feb 4, 2010 9:31am Feb 4, 2010 9:31am
Gold getting crushed. I think this a very good opp to buy however u may have to sustain some pain cause it may go down below 1000
  • #189,791
  • Feb 4, 2010 9:31am Feb 4, 2010 9:31am
Quoting MBSCTrade
Hey everybody..

Have enjoyed lurking in the background reading theposts and trying to gain as much knowledge as I can. Hoping you don't mind if I ask a quick question.

Am beginning to better understand the Fib and what to look for, however was short at 3835 and got spooked when it went back up to 3856 after London open. Closed at a loss. How do you gain confidence to let it ride into neg territory knowing it will come back down for huge gains with it now at 3778?

Thanks,

Hi there, I'm a noob myself but it does get easier with experience and following the charts and news and the great information you'll find here from the pro's.

Its all interesting...have doubled my money before in a day....and blown out a couple of small accounts...bad nerves rulling a good decision etc lol

But it does get easier
  • #189,792
  • Edited 9:50am Feb 4, 2010 9:33am | Edited 9:50am
looks like we will have to extend this.. if you have to long wait 4 3709.. idont think its a big bounce. but since we may aproach it around euro close it may have a little traction befor nfp.. but id keep tight sl..

this is a big strong move..
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those who can, do. those who cant, talk about those who can
  • #189,793
  • Feb 4, 2010 9:33am Feb 4, 2010 9:33am
Quoting Optimum
Long add. avg : 3807 Total : 1 Lot *long-term*
Curious to know your SL and TP ? if you don't mind me saying of course
Fools Rushing
  • #189,794
  • Edited 11:31am Feb 4, 2010 9:34am | Edited 11:31am
Quoting vinesh2
Gold getting crushed. I think this a very good opp to buy however u may have to sustain some pain cause it may go down below 1000
1065 then bounce.. but according to zar... its going down further after.
those who can, do. those who cant, talk about those who can
  • #189,795
  • Feb 4, 2010 9:37am Feb 4, 2010 9:37am
dx sub 80 level tested. good place to offload euro shorts & start to build small longs imho.

Previous chart:
1. http://www.forexfactory.com/showpost...postcount=4518


Good luck.
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Thank You
  • #189,796
  • Feb 4, 2010 9:38am Feb 4, 2010 9:38am
Quoting gatorinla
965 then bounce.. but according to zar... its going down further after.

Yep, now that everyone in the whole world is buying gold and being told by 100's of commercials every day to buy gold it's gonna retract like no other... Just to stop everyone out and take their retirement before it then bottoms out so the big boys can buy cheaper (and a few small guys).
  • #189,797
  • Feb 4, 2010 9:39am Feb 4, 2010 9:39am
Quoting MBSCTrade
Hey everybody..

Have enjoyed lurking in the background reading theposts and trying to gain as much knowledge as I can. Hoping you don't mind if I ask a quick question.

Am beginning to better understand the Fib and what to look for, however was short at 3835 and got spooked when it went back up to 3856 after London open. Closed at a loss. How do you gain confidence to let it ride into neg territory knowing it will come back down for huge gains with it now at 3778?

Thanks,
To put it simple...

Draw out your lines on a chart. Set a predetermined take profit and stop loss. Once you hit one, look for the next set up. Not really much else you can do.

You can have multiple sets of trades (which I do sometimes) and not just wait for one to end to start another. But each set has their own tp & sl. The tp's and sl's are all based on the lines (supports, resistances, trendlines, fibos). There are more lines on other charts (commodities & correlated currencies) that I cross reference too. That's pretty much it for the basics.

I will be forwarding you another message I sent to someone else with a bit more stuff, but its pretty much what I just wrote here.
  • #189,798
  • Feb 4, 2010 9:39am Feb 4, 2010 9:39am
Quoting MTF Test
Curious to know your SL and TP ? if you don't mind me saying of course
I think long term. I will keep open. S / L yet. This is a very good opportunity. future large purchases to be released soon. Maybe we'll see new heights.
  • #189,799
  • Feb 4, 2010 9:40am Feb 4, 2010 9:40am
Quoting vinesh2
Gold getting crushed. I think this a very good opp to buy however u may have to sustain some pain cause it may go down below 1000
yeah , gold crushed but in comparison to eu still very less , may need more to correct.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #189,800
  • Feb 4, 2010 9:41am Feb 4, 2010 9:41am
Quoting MTF Test
The shallow correction of the decline from 1.4581 suggests selling pressure will remain strong. Standard measurements put targets in the low 1.30s and worse.




There may be resistance in the 1.3760 area and again near 1.3900.

Weekly S 1 = 1.3860



From - Elliott Wave International
I am expecting correction up to the former resistance. then i might add more shorts

Reason - Overbought in MTF's - Very Strong selling pressure - In order for price to decline further market structure require a correction.
Fools Rushing
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