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  • #213,721
  • Mar 19, 2010 12:53pm Mar 19, 2010 12:53pm
we may not be in kansas anymore.
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those who can, do. those who cant, talk about those who can
  • #213,722
  • Mar 19, 2010 12:54pm Mar 19, 2010 12:54pm
Quoting fontu
sell setup perfection or signal ( h1 ) tf below H4 and so matter time it will break below 1103 & also all with .next support there 1102.30 break 1088.10.
fontu
GOLD holds as I said, charts means nothing it that contest and EU looks

much better now.. Monday back over 1.36 or even Sunday..

EUR showing same relative strength as Dollar now.. GBP dead, cause it was holding yesterday..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #213,723
  • Mar 19, 2010 12:54pm Mar 19, 2010 12:54pm
Quoting personalme
Thanks for such clear explanation Mike. You've made me to sign up Youtube and subscribe the video. Is there another one? Seems it is cut in the middle.

Buy a mouse will ya?
Made you... I wish I had the effect on the chicks.

Thanks... that's the only channel.

I have over 10 Mice... most of them work well and all of them are laptop logitech mice.

my 2 year old thinks it funny to grab one off the desk and tear azz out of my office. (damn crumb snatchers. he's lucky i love him so much or i'd feed him to the dogs)

Mike
  • #213,724
  • Mar 19, 2010 12:55pm Mar 19, 2010 12:55pm
Quoting acumen
All indicators aren't the same.

I'll let PV explain.

m

I use price action as well. The size and wicks of the candles sometimes thows me off. But i'm using money mangement as well.
  • #213,725
  • Mar 19, 2010 12:56pm Mar 19, 2010 12:56pm
Quoting gatorinla
we may not be in kansas anymore.
ahhh... i'm with you... have been for months.

m
  • #213,726
  • Mar 19, 2010 12:58pm Mar 19, 2010 12:58pm
sorry please explain...kansas ? oz ? i ve missed something
Andreyou
  • #213,727
  • Mar 19, 2010 12:59pm Mar 19, 2010 12:59pm
Quoting mmccormac
Well that oil trade completed from when I posted this last night (It Flipped us off!!!). Classic.

http://cdn.forexfactory.com/attachme...1&d=1269018628

.
What is this ?? "Head and Double Shoulders Body Building" Formation? JJ
Discipline + Patience - Fear - Greed = Success
  • #213,728
  • Mar 19, 2010 12:59pm Mar 19, 2010 12:59pm
Quoting personalme
Thanks for such clear explanation Mike. You've made me to sign up Youtube and subscribe the video. Is there another one? Seems it is cut in the middle.

Buy a mouse will ya?
i took forever to load... maybe the video shit the bed while uploading.

m
  • #213,729
  • Mar 19, 2010 12:59pm Mar 19, 2010 12:59pm
Quoting DrLobo
Just draw afib on the hourly chart and u will see current levels found some resistence at 38%.

PA appears to be good for retractment, so I think it will probably will fall back to 60% region

Have to try drawing it out this week end.
Thanks
  • #213,730
  • Mar 19, 2010 1:00pm Mar 19, 2010 1:00pm
Quoting SkyzerFX
GOLD holds as I said, charts means nothing it that contest and EU looks

much better now.. Monday back over 1.36 or even Sunday..
don't fight the market man , just play along with it but don't try to punsh it coz it can punch really hard.

its a down trend on all charts now with a devastating weekly candle forming that is fighting to close just above the lowest price of previous week .

watch the 3430 very closely.
I SEE YOU !!
  • #213,731
  • Mar 19, 2010 1:02pm Mar 19, 2010 1:02pm
Quoting PriceVolume
Sure, here you go. This platform places the 38.2 a few pips higher, at 3552.
Thanks. Will youtube and google this week.
  • #213,732
  • Mar 19, 2010 1:04pm Mar 19, 2010 1:04pm
Quoting acumen
i took forever to load... maybe the video shit the bed while uploading.

m
Oh ok. I'll wait till it is cleaned.
Manage your risk accordingly and you're half done your home work.
  • #213,733
  • Mar 19, 2010 1:07pm Mar 19, 2010 1:07pm
Quoting arezab
What is this ?? "Head and Double Shoulders Body Building" Formation? JJ
Looks more a middle finger to me. We may call it fcuk formation.
Manage your risk accordingly and you're half done your home work.
  • #213,734
  • Mar 19, 2010 1:08pm Mar 19, 2010 1:08pm
As many of us pointed out earlier this week the AU hit it's daily UTL right around the same time the EU got rejected off that big 50% Fib and 1.3800.

These pairs are somewhat correlated and given the weekly we're gonna have unless something insane happens on the Euro the AUD Should follow.

Looking at the AU you can see the weekly candle is awesome right off that UTL and it has plenty of down room still (700 plus pips until that bottom support).

With the Weekly we have on the Euro we could see both of these pairs drop hard the next hand full of weeks.

Daily and weekly AU below.

EDIT: Obviously these candles are not closed yet. Oil and Gold were talked about also and both got rejected off key areas as well.
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  • #213,735
  • Mar 19, 2010 1:11pm Mar 19, 2010 1:11pm
Quoting smurf
I use price action as well. The size and wicks of the candles sometimes thows me off. But i'm using money mangement as well.
Way to throw me under the bus Mike. Just kidding....

Ok, so, this is going to be longwinded - just fair warning. I don't consider Pivot Points, Trendlines, and Fib ratios to be "indicators" per say, as they are based on pure price action. To me, and some here may philosophically differ with me, an "indicator" involves some massaging/manipulation/interpretation of price data. A fib is what it is...a point is a 50% retracement from the last movement, or it is not. Price is either above/below a pivot or is not. Price touches a pivot point and is/is not rejected. This is interpretation of raw price action. And anyone who has been trading successfully for any length of time will tell you that price action is king in the land of "indication". So, why do pivots, fibs, and trendlines work? BECAUSE TRADERS USE THEM. There is no magic...they work because they persist in the trade.

Now for indicators - and there are alot of views on this, which I respect. My view is this: indicators work, if and only if, the user understands how they are derived and the context in which they are displaying a signal. For example, a stoRSI may cross from an oversold region above the 50% mark....but is this a buy signal? Depends - if it's obvious that you've been in a zone of consolidation....doesn't mean a thing other than you may be passing into the upper portion of the range. What if the opposite happens - the indicator tells you to go short? Well, maybe...but what if you have just seen price get rejected off the lower 2nd deviation of a bollinger band? For me, indicators work...but the key is INTERPRETATION OF WHAT THE INDICATORS ARE TELLING YOU IN THE CONTEXT OF PRICE ACTION. It is the lack of this interpretation that leads many to fail. Price, and only price, is the only indicator that will never lie to you.
  • #213,736
  • Mar 19, 2010 1:14pm Mar 19, 2010 1:14pm
Quoting personalme
Oh ok. I'll wait till it is cleaned.
i'll work on over the weekend.

damn computers.

m
  • #213,737
  • Mar 19, 2010 1:17pm Mar 19, 2010 1:17pm
Quoting PriceVolume
Way to throw me under the bus Mike. Just kidding....

Ok, so, this is going to be longwinded - just fair warning. I don't consider Pivot Points, Trendlines, and Fib ratios to be "indicators" per say, as they are based on pure price action. To me, and some here may philosophically differ with me, an "indicator" involves some massaging/manipulation/interpretation of price data. A fib is what it is...a point is a 50% retracement from the last movement, or it is not. Price is either above/below a pivot or is not. Price touches a pivot...
earn those stripes.



Nice post.

I don't view pivots as indicators either but the terminology doesn't matter as long as they work.
  • #213,738
  • Mar 19, 2010 1:18pm Mar 19, 2010 1:18pm
Quoting andreypu
sorry please explain...kansas ? oz ? i ve missed something
toto got hit by a car. since then dorothy is on an old couch in the alley earning crack money.. aunti em ran off with the wiz.. after finding out oz gave something to the tinman that he didnt already have, that Ajax didnt wash the taste out his mouth. she found the oil can under the bed and she left him. she is now a madam at the chicken ranch in nevada.

kansas aint what it used to be although its still good for a free bj.

Inserted Video
those who can, do. those who cant, talk about those who can
  • #213,739
  • Mar 19, 2010 1:18pm Mar 19, 2010 1:18pm
I'll post the Gold and Oil rejections we talked about earlier this week as well. Daily's for both below.

The Euro is set up nicely with most pairs now.
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  • #213,740
  • Mar 19, 2010 1:20pm Mar 19, 2010 1:20pm
Quoting acumen
All indicators aren't the same.

I'll let PV explain.

m

to me, most indicators are the same, most not all, but a very huge majority.

the information/data provided by most indis are close with some deviation, just depend on how u interpret the data.

its the management of price, not entry not exit not mm, infact entry not important, exit as well. you can add alot of indicators or even no indicators, and the price information provided is still somewhat the same...

i find it hard to explain this... but ya this is my conclusion.

ain't saying anyone approach is wrong or anything. cox we all view price/indicators/support/resistance/timeframe/mode of analysis/conclusion of analysis differently.

just sharing my opinion.
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