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  • #19,541
  • Mar 23, 2010 6:58am Mar 23, 2010 6:58am
Quoting MarcVUM
was just getting back to 5ma on 15min. 200ma on 4hr should be good S
what's your take MarcVUM? as in are you taking or plan to take any positions?
volume is thin hmm, it's like slow mo compared to other days
that's why Saxon went to sleep lol
  • #19,542
  • Mar 23, 2010 7:07am Mar 23, 2010 7:07am
Quoting OvT
what's your take MarcVUM? as in are you taking or plan to take any positions?
volume is thin hmm, it's like slow mo compared to other days
that's why Saxon went to sleep lol
I use the 4hr and 1hr TF's to make trade decisions and the 15hr to monitor. I took a short trade around 5am est this morning when I saw overbought conditions on my 4hr and a bounce off of an important ma on my 15min. 1hr really didn't play into this trade decision. Looking at the 4hr I am fairly confident on landing on the 200ma and taking profit. It will make me some decent returns so I will then re-examine the market. However, if I get a candle like we did on the 15min yesterday at 9am est then I may have to close my current position and reverse the trade.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,543
  • Mar 23, 2010 7:30am Mar 23, 2010 7:30am
i did expected to bounce at 50%.
lets see whats next.if it breaks upper trend chanell its gonna go up.
get ready guys.
i am watching 15m.
change your mind like market does.
  • #19,544
  • Mar 23, 2010 8:12am Mar 23, 2010 8:12am
Where the heck is the current surge coming from? It suddenly shot north, and that's after a London session that had lulled me into thinking that the down trend was finally reasserting itself after yesterday's mess.

EDIT: I see now - bounce off 50%. Let's see where it lands us and how far north it can go - I'm holding my finger on the Close Position button.
  • #19,545
  • Mar 23, 2010 8:14am Mar 23, 2010 8:14am
looks like we might get another "pinbar" on the daily chart, to early to be sure. 200sma proving to be strong resistance on 1 hour and 30 min chart. I closed my long, will wait to see what U.S open does
  • #19,546
  • Mar 23, 2010 8:17am Mar 23, 2010 8:17am
Quoting George C
Where the heck is the current surge coming from? It suddenly shot north, and that's after a London session that had lulled me into thinking that the down trend was finally reasserting itself after yesterday's mess.

EDIT: I see now - bounce off 50%. Let's see where it lands us and how far north it can go - I'm holding my finger on the Close Position button.
craziness! I'm holding to my guns even though the futures are up on the S&P. Sentiment still remains bearish.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,547
  • Mar 23, 2010 8:21am Mar 23, 2010 8:21am
Quoting MarcVUM
craziness! I'm holding to my guns even though the futures are up on the S&P. Sentiment still remains bearish.
I'm sticking to my guns as well, but there's a chance of a trend reversal here.

The problem is that I started shorting on Friday at 0.9191, so the price has surged back perilously close my original entry level. A drawdown itself is not a problem - but since I bought at close to the peak of the current upswing, price breaking that level could be a pretty strong indication that the pair is heading north.

In my opinion, a break of 0.9250 would be a clear signal that the downward trend is no longer in existence. Although the price had bounced back off that level very nicely before (and thus providing the three-point-line confirmation of a downward trend), all trends have to end someday - and this could just be it :-)
  • #19,548
  • Mar 23, 2010 8:21am Mar 23, 2010 8:21am
Quoting MarcVUM
craziness! I'm holding to my guns even though the futures are up on the S&P. Sentiment still remains bearish.
i am bullish now
  • #19,549
  • Mar 23, 2010 8:23am Mar 23, 2010 8:23am
Also, at the two previous daily highs, the pair dropped heavily within four days with no strong reversal signs. This time around here, four days later, and the pair is still flopping around indecisively.
  • #19,550
  • Mar 23, 2010 8:24am Mar 23, 2010 8:24am
hmm, im bearish against .92 targeting under .91, well nothing really change since thursday
  • #19,551
  • Mar 23, 2010 8:31am Mar 23, 2010 8:31am
Quoting George C
I'm sticking to my guns as well, but there's a chance of a trend reversal here.

In my opinion, a break of 0.9250 would be a clear signal that the downward trend is no longer in existence.
You must have some special TF to use. I do not see downward trend on any of mine quite a long time now, shall we say a year or more?

Naturally scalping can be done both ways, Clouds has its own experience, but with swaps like they are why should anyone choose the harder side?
  • #19,552
  • Mar 23, 2010 8:33am Mar 23, 2010 8:33am
Quoting JanPoko
You must have some special TF to use. I do not see downward trend on any of mine quite a long time now, shall we say a year or more?

Naturally scalping can be done both ways, Clouds has its own experience, but with swaps like they are why should anyone choose the harder side?
Jan,

Here's the link to the chart on which I based my short decision:

http://cdn.forexfactory.com/attachme...9&d=1269337076
  • #19,553
  • Mar 23, 2010 8:35am Mar 23, 2010 8:35am
Quoting JanPoko
You must have some special TF to use. I do not see downward trend on any of mine quite a long time now, shall we say a year or more?

Naturally scalping can be done both ways, Clouds has its own experience, but with swaps like they are why should anyone choose the harder side?

4hr TF. rarely does wrong by me. ...nice PA on the 15min now.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,554
  • Mar 23, 2010 8:38am Mar 23, 2010 8:38am
Quoting JanPoko
You must have some special TF to use. I do not see downward trend on any of mine quite a long time now, shall we say a year or more?
There is a down trend TL on daily, connectingn .94,93, and .92. Then there's also the new down trend TL on 4hr - not saying it couldn't go up, but there are points of entree for shorting
  • #19,555
  • Mar 23, 2010 8:42am Mar 23, 2010 8:42am
Quoting OvT
u might be blur but u're still a bear, lol
what's our target this time bear?

oh you said open target
So long it does not break above 9200, I am fine being a bear for time being. What happened? Stepped out on errand when it was near its lows. Came back, it is back up and had tested 9170s again

Anyway, I am still looking for test of yesterday's lows and the rising wedge support around 9070-80. As posted earlier, if that support breaks, will be eyeing maybe 8830s? However, it may just prove me wrong and break above 9200 Protective stops still placed above today's high.
  • #19,556
  • Mar 23, 2010 8:49am Mar 23, 2010 8:49am
Assuming that we're in a downtrend, shouldn't the following (see attached 4H) hold true?

If yes, the .9190 should be the new test of a trend break.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD-4H.JPG Size: 97 KB
  • #19,557
  • Mar 23, 2010 8:56am Mar 23, 2010 8:56am
testing the 15m trend line.
  • #19,558
  • Mar 23, 2010 8:56am Mar 23, 2010 8:56am
Quoting Clouds
There is a down trend TL on daily, connectingn .94,93, and .92. Then there's also the new down trend TL on 4hr - not saying it couldn't go up, but there are points of entree for shorting
HI Clouds,
I agree with you 100%, I think the initial jump up was the opening of NY, but we can see that it didnt have enough oomph to do any damage to the bear sentiment. This is transparent in the 1m, 5m and 15m charts shown here. I think so far as it doesnt break 9189, it should see boundaries of 910X in the NY session.
Attached Image (click to enlarge)
Click to Enlarge Name: CropperCapture[1].jpg Size: 100 KB
Find a job that you love and you dont have to work again in your life.
  • #19,559
  • Mar 23, 2010 9:03am Mar 23, 2010 9:03am
Quoting trade price
testing the 15m trend line.
and yes it bounced.no surprise
  • #19,560
  • Mar 23, 2010 9:04am Mar 23, 2010 9:04am
see u later guys.
happy trading
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