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  • #201,861
  • Feb 24, 2010 9:05am Feb 24, 2010 9:05am
Can you see the thing goes? 50+ pips in 5 mins
Quoting ts63
Out 20 pips... 2 minutes..
always learning from the masters
  • #201,862
  • Feb 24, 2010 9:05am Feb 24, 2010 9:05am
First orders @ 1.3585 filled....next one @ 1.3620...waiting for it then down down down....or down now!
COT: The precious data ignored
  • #201,863
  • Feb 24, 2010 9:10am Feb 24, 2010 9:10am
Say hello to 3500, and shortly after...

Goodbye


Painful to watch my trade during that jump up but I still holding short.
  • #201,864
  • Edited 9:26am Feb 24, 2010 9:11am | Edited 9:26am
here's a little chart without much on it because I don't want to give up my setup. I might post better in a moment.

resistance is my pivot that the 50% fibo.

edit.. oh sorry this is 1hr timeframe I use for figuring trend.
Attached Image (click to enlarge)
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #201,865
  • Feb 24, 2010 9:14am Feb 24, 2010 9:14am
BB just got a haircut from Ron Paul.
always learning from the masters
  • #201,866
  • Feb 24, 2010 9:15am Feb 24, 2010 9:15am
Malcolm,

On the topic of volume. (not saying I am right - trying to learn) Logic says to me, that if the market fell 150 pips, that SM brought it down and also stopped it. Stopping is done by buying everything coming at them. That seems to point to an immediate accumulation that needs to be distributed in a sidway's market. I can understand the need to pause and go sideways in a rising market to accumulate inventory to sell, but don't see the logic behind that for buying in a down market. To me that points to accumulating a short position more than a long one. No?

Thanks
BR

Quoting malcolmb14
at the moment staying out , took long 1.3605 after being +80 got stopped out -25

been on gold and ES last 2 days.....

but yes something odd is going on ....these 150 pip down moves are being stopped dead ....really looks like long term accumulation to me , but unsure when market will be ready to go up . I am still thinking somehow we move up . BUt dj really looked like reversal day yesterday so to be honest very confused right now and back to trading 30 min / 10 min charts
  • #201,867
  • Feb 24, 2010 9:18am Feb 24, 2010 9:18am
I'm getting dizzy..... At least market in my favor now
  • #201,868
  • Feb 24, 2010 9:21am Feb 24, 2010 9:21am
Now he'll began speaking...going down my friends!
  • #201,869
  • Feb 24, 2010 9:21am Feb 24, 2010 9:21am
EURO-DOLLAR: Snapped back to $1.3560 after minting highs at $1.3597, the
pair retreating after earlier noted supply capped just ahead of the
figure. Dip in euro-yen blamed for part of the retreat, as is the softer
tone of US stocks.

Provided by: Market News International

stocks are tanking btw
Trade on your own risk Plan your trade&trade your plan dont be a
  • #201,870
  • Feb 24, 2010 9:22am Feb 24, 2010 9:22am
Quoting Blacknightz
big feelingz that this is goingz downz to 1.34...............

1hr stochastic has not went down yet for the day...


how longz more till bernanke is done talkingz?
  • #201,871
  • Feb 24, 2010 9:22am Feb 24, 2010 9:22am
...
Attached Image
Discipline + Patience - Fear - Greed = Success
  • #201,872
  • Feb 24, 2010 9:24am Feb 24, 2010 9:24am
Quoting arezab
...
To me they are....
But it will depend on the close though
COT: The precious data ignored
  • #201,873
  • Feb 24, 2010 9:24am Feb 24, 2010 9:24am
Just starting to speak now.
Quoting Blacknightz
how longz more till bernanke is done talkingz?
always learning from the masters
  • #201,874
  • Feb 24, 2010 9:24am Feb 24, 2010 9:24am
EuroUsd, GbpUsd, AudUsd have been SOLD HEAVY. So they're buying dollars, like they've been doing for past month. Holding AudUsd short.
"Hate the sin, love the sinner." - Gandhi
  • #201,875
  • Feb 24, 2010 9:25am Feb 24, 2010 9:25am
its poised between 1.3550-66 for now ...
  • #201,876
  • Feb 24, 2010 9:26am Feb 24, 2010 9:26am
Why are they getting married ???

Bernanke marries Geithner ?????????????
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  • #201,877
  • Feb 24, 2010 9:28am Feb 24, 2010 9:28am
oh no he didn't! Bernanke just said interest rates are likely to stay low for extended period of time. Yup..today is bullish...nothing more clear cut then that.
Different opinions highly valued, ignorant to slander.
  • #201,878
  • Feb 24, 2010 9:29am Feb 24, 2010 9:29am
Someone confirmed me that they're selling but usd is not able to make new highs so it lacks some strength, profit taking/short covering might start soon if we don't break the lows.
"Hate the sin, love the sinner." - Gandhi
  • #201,879
  • Feb 24, 2010 9:29am Feb 24, 2010 9:29am
Bernanke says US Fed rate to remain low for extended period.
always learning from the masters
  • #201,880
  • Feb 24, 2010 9:30am Feb 24, 2010 9:30am
If you took this trade...put Stops to Entry! Hope this continues downward....this was a good place to enter SHORT!!!

Quoting IMARICH1
This 3580 area is where I am looking as well.....

One of my trader friends who does well is looking for this area with confirmation in the CHF....I think I have one of his videos explaining it.....

For any newbies out there this kind of explains the direction of the trend and why it is important...

http://www.algforex.com/images/stories/videos/0224_1_.wmv
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