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  • #198,901
  • Feb 18, 2010 10:04pm Feb 18, 2010 10:04pm
Another collapse today. It will show hammer at the end of day once buying starts coming at 1.3350/1.34.

FIB Projection- Big guys are using it day in day out.
  • #198,902
  • Feb 18, 2010 10:05pm Feb 18, 2010 10:05pm
Quoting 2+2=4ex
WOW

Yeah, no kidding. thank you so much for that valuable contribution! lol nice job on the pips
  • #198,903
  • Feb 18, 2010 10:05pm Feb 18, 2010 10:05pm
Quoting forexmick
Now gone long at 3484.
what's your tp & sl?
  • #198,904
  • Feb 18, 2010 10:09pm Feb 18, 2010 10:09pm
Quoting 2+2=4ex
what's your tp & sl?
Not using any sl or tp. I am watching the screen. I have long term shorts from 1.4900 , 1.4800, 1.4500 and 1.4000 so now i am trading for entertainment
  • #198,905
  • Feb 18, 2010 10:11pm Feb 18, 2010 10:11pm
Quoting enterfx
For scalpers ok. Make sure to allways set a (wider) hardstop as well in case you get disconnected, poweroutage, login trouble etc. etc...

I've learned this one the hard way....well still profited but the worry and panic cannot be priced.

The internet company saw fit to perform maintenance for 4 hours. (it was a pretty big position). Just as I was about to set my hard sl...bam internet off.

Keep a 3g connection for backup.
  • #198,906
  • Feb 18, 2010 10:12pm Feb 18, 2010 10:12pm
Kinffisher,

Bear73 who is a professional trader showed me how to use fib projection....I am wondering if your method is the same way.

DO you take the high or low on the 1hr or 15m time frame and and take the 50% fib line to the 80 ma to project or use the fib proj when in a channel and take the 61.8 to the opposite side to project as well?

Just trying to see how you arrived at the fib proj you did? Thanks
  • #198,907
  • Feb 18, 2010 10:12pm Feb 18, 2010 10:12pm
acumen,

Thank you so much for the video this week. Those are awesome, I've downloaded all but october on your website and I will get to those here asap.

Donnie
  • #198,908
  • Feb 18, 2010 10:13pm Feb 18, 2010 10:13pm
Quoting TheLastCoke
For the sake of my longs, let this one be a fake inverted flag.
Usually I would follow this pattern but I have bigger signals against it.
Let it go deeper I saw your charts in the past and you trace pattern great, and 1.33 is right around the corner, I'm expecting 1.30, don't think this week we will see, but anything is possible, lets see next week, hope to not see a reversal first, but following line charts on monthly, weekly and daily, don't see a retrace in the near future.
  • #198,909
  • Feb 18, 2010 10:15pm Feb 18, 2010 10:15pm
Quoting forexmick
Not using any sl or tp. I am watching the screen. I have long term shorts from 1.4900 , 1.4800, 1.4500 and 1.4000 so now i am trading for entertainment
Ahh so 10 pips is peanuts onto the big pile. At what point do you think this trend will reverse? My guess is 1.2787
  • #198,910
  • Feb 18, 2010 10:18pm Feb 18, 2010 10:18pm
Quoting 2+2=4ex
Ahh so 10 pips is peanuts onto the big pile. At what point do you think this trend will reverse? My guess is 1.2787
The big man says it will hit 1.1000 by the end of 2010
  • #198,911
  • Feb 18, 2010 10:21pm Feb 18, 2010 10:21pm
Quoting DMA Trader
About the US role, well from 2008 there were very good coordinated moves. So you might also think that US dollar was down last year so they can help their economy and now it's Europe exporters(economy)'s time.
sure, all agreed to over cognac & cigars months ago....except....not everyone was/is at the table....best laid plans can still be derailed.

USD strength on track for now. let's see how much pain the US markets show
in coming days....let the chinese traders come back in force next week...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #198,912
  • Feb 18, 2010 10:23pm Feb 18, 2010 10:23pm
There is more space down to go. Most of greatest analyst also believe the 1.3200 is a hotpsot point. My 161.8 target Fibs expansion says 1.3200.
Well I think it will sink until there for time being and then get retrace a bit well I dont know. Yesterday profit has taken. But not I want to pick some long because I know the retrace will be more after reach 1.3200.

Good luck
Attached Image (click to enlarge)
Click to Enlarge Name: setup.JPG Size: 114 KB
  • #198,913
  • Feb 18, 2010 10:25pm Feb 18, 2010 10:25pm
Quoting gatorinla
i dont know if it posted or not.. i dont have what it takes to read post atm.. but if you have one for weekly pp i would greatly apreciate
Here are a couple of pivot indis one is weekly the other is all time frames
Attached File(s)
File Type: mq4 WeeklyPivot.mq4   5 KB | 238 downloads
File Type: ex4 WeeklyPivot.ex4   6 KB | 196 downloads
File Type: mq4 AllPivots_v2.mq4   5 KB | 234 downloads
File Type: ex4 AllPivots_v2.ex4   10 KB | 235 downloads
  • #198,914
  • Feb 18, 2010 10:28pm Feb 18, 2010 10:28pm
Quoting Kidlamond
Any body looking at gold?
it's 1116.00 to crazy?
If your broker is showing that price then sell it asap.
  • #198,915
  • Feb 18, 2010 10:33pm Feb 18, 2010 10:33pm
Please look at my chart how do I apply my setup.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.JPG Size: 130 KB
  • #198,916
  • Feb 18, 2010 10:33pm Feb 18, 2010 10:33pm
Quoting forexmick
The big man says it will hit 1.1000 by the end of 2010
I hope Big man is correct...
Attached Image (click to enlarge)
Click to Enlarge Name: m 02-18-10.gif Size: 16 KB
  • #198,917
  • Feb 18, 2010 10:36pm Feb 18, 2010 10:36pm
Quoting forex888
There is more space down to go. Most of greatest analyst also believe the 1.3200 is a hotpsot point. My 161.8 target Fibs expansion says 1.3200.
Well I think it will sink until there for time being and then get retrace a bit well I dont know. Yesterday profit has taken. But not I want to pick some long because I know the retrace will be more after reach 1.3200.

Good luck
There is no need to be "gratest analyst" to do Fibonacci...23.6% gives 1.3214. Will Smart Money go to that point or below it? I do not know...
The Market pays you to be disciplined
  • #198,918
  • Feb 18, 2010 10:41pm Feb 18, 2010 10:41pm
Quote
Kinffisher,

Bear73 who is a professional trader showed me how to use fib projection....I am wondering if your method is the same way.

DO you take the high or low on the 1hr or 15m time frame and and take the 50% fib line to the 80 ma to project or use the fib proj when in a channel and take the 61.8 to the opposite side to project as well?

Just trying to see how you arrived at the fib proj you did? Thanks

Hi,

I trade daily charts only. Nothing less then daily.

So, i plot swing high- point A, swing low- Point B and then retracement swing high- Point C to arrive at fib projection.

I use fib projection calculator here:

http://www.actionforex.com/resources...-200603205723/

Point A- 1.3839

Point B- 1.3531

Point C- 1.3788

These values come:

61.8% - 1.3598

100.0% - 1.348

138.2% - 1.3362

161.8% - 1.329


1.3385 is the monthly support 2 (monthly pivots/S/R). So there is a strong confluence at 1.3362 (138.2% projection) and 1.3385.
  • #198,919
  • Feb 18, 2010 10:42pm Feb 18, 2010 10:42pm
Quote
There is no need to be "gratest analyst" to do Fibonacci...23.6% gives 1.3214. Will Smart Money go to that point or below it? I do not know...

Expect atleast 50%.

1.27 is support 1 (yearly pivots calculation)
  • #198,920
  • Feb 18, 2010 10:46pm Feb 18, 2010 10:46pm
Quoting 2+2=4ex
I hope Big man is correct...
Wrong Big Man. Try this one
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