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  • #1,161
  • May 4, 2010 3:07am May 4, 2010 3:07am
Quoting ingmarforex
Hi guys,

did a touch trade today at the 87 lvl of oil but on the dailly whe might getting a pin what do yo guys think ?

http://i42.tinypic.com/4sl3bs.gif
triple top with divergence...worked out well.

It has formed a daily pin but the FTA is very close.
  • #1,162
  • May 4, 2010 4:16am May 4, 2010 4:16am
Not looking at that much at the moment as most pairs are in ranges or in between S/R levels. E/J is @ an intersting PPZ area.

Wenty short oil on demo and on live spreadbetting account as that's the only way can trade this and short AU.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: oil.gif Size: 17 KB
  • #1,163
  • May 4, 2010 4:25am May 4, 2010 4:25am
Quoting lovejoy80
Not looking at that much at the moment as most pairs are in ranges or in between S/R levels. E/J is @ an intersting PPZ area.

Wenty short oil on demo and on live spreadbetting account as that's the only way can trade this and short AU.
Nice to have you back. I was getting bored lately, though markets have started to move in the last couple of hours. Went short S&P (a staggering 0.02 lots) and oil (beat your entry by a few pips on 0.01 lots omg ) on live and long GC on demo.

I think both oil and S&P (if S&P breaks the big H4 triangle) might be keepers.
  • #1,164
  • May 4, 2010 4:32am May 4, 2010 4:32am
Quoting neutro
Nice to have you back. I was getting bored lately, though markets have started to move in the last couple of hours. Went short S&P (a staggering 0.02 lots) and oil (beat your entry by a few pips on 0.01 lots omg ) on live and long GC on demo.

I think both oil and S&P (if S&P breaks the big H4 triangle) might be keepers.
I dont have S&P but did short dow futures earlier on demo.

I'm cautious about the current down move...I think we'll get a retrace back up prior to US open and then who knows, but I dont think we have enough momentum / a catalyst for EU to break to new lows and GU / GJ to break down either.
  • #1,165
  • May 4, 2010 4:41am May 4, 2010 4:41am
I have a question regarding Oil and UC correlation. Does UC influence oil in any way or is it just Oil -> UC? From your past experience...
  • #1,166
  • May 4, 2010 6:42am May 4, 2010 6:42am
Quoting lovejoy80
triple top with divergence...worked out well.

It has formed a daily pin but the FTA is very close.

Fta???

SOrry dont know what that is maybe when you have time you could explain me.

Thanks,

Lovejoy
  • #1,167
  • May 4, 2010 6:43am May 4, 2010 6:43am
Quoting neutro
I have a question regarding Oil and UC correlation. Does UC influence oil in any way or is it just Oil -> UC? From your past experience...
Oil and CAD are correlated due to the fundamentals....obviously not 100% correlated though. I just look at Oil and Uc and CJ together for additional confluence. i.e. if UC is at a support level I'll ahve a look at oil and see where that is, if thats at a support level too then that's additional confluence.
  • #1,168
  • May 4, 2010 6:45am May 4, 2010 6:45am
added another AU position @ 0.9170 and went short EJ @ 123.97.

Not around much this afternoon - got a trip to the dentist
  • #1,169
  • May 4, 2010 6:46am May 4, 2010 6:46am
Quoting ingmarforex
Fta???

SOrry dont know what that is maybe when you have time you could explain me.

Thanks,

Lovejoy
It's an abbreviation for first trouble area. As it happens Oil blew straight through that area and I went short
  • #1,170
  • May 4, 2010 7:09am May 4, 2010 7:09am
Quoting lovejoy80
added another AU position @ 0.9170 and went short EJ @ 123.97.

Not around much this afternoon - got a trip to the dentist
Good luck. I have good teeth, but I don't know what's gonna happen through the years.
  • #1,171
  • May 4, 2010 7:14am May 4, 2010 7:14am
Quoting lovejoy80
It's an abbreviation for first trouble area. As it happens Oil blew straight through that area and I went short

Thank you mate
  • #1,172
  • May 4, 2010 8:11am May 4, 2010 8:11am
could be intresting.



ascending triangle

http://i42.tinypic.com/3523v6f.jpg
  • #1,173
  • May 4, 2010 8:48am May 4, 2010 8:48am
.,
.
Attached Image (click to enlarge)
Click to Enlarge Name: 8.gif Size: 23 KB
  • #1,174
  • May 4, 2010 9:20am May 4, 2010 9:20am
Quoting nasir.khan
.,
.
When you get PA after a touch trade, you'r in for a treat.
.
  • #1,175
  • May 4, 2010 10:16am May 4, 2010 10:16am
What a day... I'm glad I was on the winning side. But made a lot of mistakes. I got out of my S&P shorts at... wait for it... 1193... I wrote a biig note on my desk not to listen to anyone but my own analysis.

Also got out of my oil short at 83.10 though broke my rules there too. Wanted to hold on longer (days, not hours).

But I'm glad I hold on to GC long @ 1.6585. That's a long term trade. 2 traders on opposite sides of the market but we both won (I hope, Nasir) . The move down was a retest of broken PPZ.

Food for thought.
  • #1,176
  • May 4, 2010 12:47pm May 4, 2010 12:47pm
I missed most of todays 'sell off' - be interesting to see if we can follow through on this or whether we get a retracement in equities again like we did last week.

Closed my AU, EJ and oil shorts earlier...much too early, but I was very tired and had the dentist and just wasnt in the mood to trade (been up most of the night with toothache!) so I'm fine with that.

Gonna watch some T20 cricket and get an early night ready for a full day tomorrow.
  • #1,177
  • May 4, 2010 3:02pm May 4, 2010 3:02pm
LJ,

I'm watching USD/JPY, trend line + S&R. Either it will continue upwards with the short term 1hr trend or we'll see a break down, which would work with the a double top on the daily.

1hr shown below...

Perk your interest any?

http://i24.photobucket.com/albums/c2.../th_ujmay5.jpg
  • #1,178
  • May 4, 2010 3:28pm May 4, 2010 3:28pm
Quoting sam0182
LJ,

I'm watching USD/JPY, trend line + S&R. Either it will continue upwards with the short term 1hr trend or we'll see a break down, which would work with the a double top on the daily.

1hr shown below...

Perk your interest any?

http://i24.photobucket.com/albums/c2.../th_ujmay5.jpg
Yep, I would have taken this trend trade if it was during the day, but dont trade 1HR charts where the trade will play out over night as I like to watch price during my intra-day trades.

95.00 is a key area with confluence of PPZ, 61 fib and BRN

All the best
Mark
  • #1,179
  • May 4, 2010 3:41pm May 4, 2010 3:41pm
Found this on my non-intraday list...BEOB @ swing high with divergence...target is the PPZ area below.
Attached Image (click to enlarge)
Click to Enlarge Name: nj.gif Size: 20 KB
  • #1,180
  • May 5, 2010 2:32am May 5, 2010 2:32am
I guess we're in for another drop... One tiny push up and then slamming down...
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