Indian Guru Trading Majors

4490 hit

lets see whats next

2005 Low t 2007 high, cable moved 4111 pips.

2007 high to jan 2009 low move was 7658 pips

taking these as the base for the monthly fibonacci, as the current wave has still not completed.

we went down to 3500 in jan 2009, bounced to kiss 2005 low of 7050, then started dropping aagain

in Elliott wave terms Jan 2009 low was wave 3, 2009 High was wave 4, and now wave 5 is in progress on monthly, which is expected to end somewhere near 2940

but as usual this will not be a straight drop, already we have had a pretty big candle in May, so expecting some corrections along the way

http://img87.imageshack.us/img87/5392/57207887.gif

in terms of short term 4 hour charts

taking 12 may high and 7 may low, we went down to kiss 4253, bounced , returned to 7 may low

now it remains to be seen if we manage to get above 7 may low, or drop again

http://img685.imageshack.us/img685/1229/73075726.gif

Nice posts Lion. I have been following the GU from your posts for some time. Really nice. Thanks

dropping down to even lower @ 1 hour

cable retraced , but stopped @ 4500, 7 may low is restricting the move, so we could be in for some consolidation / sideways here for some time

http://img33.imageshack.us/img33/4056/45233335.gif

This is a crazy crazy euro chart

Targets are either 1.1429 or 1.0795 on the current drop

http://img534.imageshack.us/img534/5075/94644180.gif

Going by monthly,

we are at 2008 low, and a break of this level is needed to fall further

http://img36.imageshack.us/img36/7180/52660573.gif

Another long closed on cable

unless 7 may low is not taken out, i do not see any reason to long again

http://img268.imageshack.us/img268/203/cabley.gif

You have been doing a great job, I have been reading your thread from page 1 but now here, I have shorted GU from 1.4408. I am afraid, it is just going up, should I close it? Is it coming back? forexlion help am afraid,

You will get the short, patience

as long as May 7 low holds as resistance

Are you still holding on to the bears side. Today is really funny.

with euro on the run and 4 hour macd in place, not anymore

but again, topside should be limited by 4510 and only a weekly close above it can change the trend

Are you trading euro or what? what i mean is if you are still holding to GU bearishness.

for short term, its in corrective retrace

for long term, 3909 is my target

Spiritual Learning

A group of scientists placed 5 monkeys in a cage and in the middle, a ladder with bananas on the top. Every time a monkey went up the ladder, the scientists soaked the rest of the monkeys with cold water.
After a while, every time a monkey went up the ladder, the others beat up the one on the ladder. After some time, no monkey dares to go up the ladder regardless of the temptation.


Scientists then decided to substitute one of the monkeys. The 1st thing new monkey did was to go up the ladder, immediately the other monkeys beat him up.



After several beatings, the new member learned not to climb the ladder even though never knew why.


A 2nd monkey was substituted and the same occurred. The 1st monkey participated on the beating for the 2nd monkey. A 3rd monkey was changed and the same was repeated (beating). The 4th was substituted and the beating was repeated and finally the 5th monkey was replaced………
What was left was a group of 5 monkeys that even though never received a cold shower, continued to beat up any monkey who attempted to climb the ladder.
If it was possible to ask the monkeys why they would beat up all those who attempted to go up the ladder….
I bet you the answer would be.."I don’t know– that’s how things are done around here."

Does it sound familiar?

"Only two things are infinite: The universe and human stupidity. And I am not so sure about the former" – Albert Einstein


Dont just blindly do things that have been done before you.Use reasoning,logic,circumstances to decide your behaviour.

In short DONT BE A MONKEY

The guys who voted NO on the poll never knew me, they just did because their friends were doing it. LOL

this plan remains intact

we will be seeing 3909 and 2939 on the current dump

which also makes me pray for the world stock markets, we are gonna see some asian markets dumping like hell

I enjoyed collecting pips today with a drawdown of just 7 to 10 pips per trade

http://img208.imageshack.us/img208/8159/28897709.gif

And you used what you posted in your first post? not bad

Source: http://www.reuters.com/article/idUSTRE64H3SV20100518

(Reuters) - New rules to curb stock trading when markets plunge uncontrollably will go into effect in June for the largest stocks, sources familiar with regulators' plans said on Tuesday.



(http://www.reuters.com/finance/deals)
The plan was hastily crafted by the Securities and Exchange Commission and the major U.S. exchanges in response to the unexplained "flash crash" on May 6 that drove the Dow Jones industrial average down some 700 points within minutes.
The new restrictions known as circuit breakers will apply to all stocks in the Standard & Poors 500 index, one of the sources said, adding exchange-traded funds (ETFs) are excluded.
Regulators are still trying to pinpoint the cause of the market free-fall and are expected to disclose preliminary findings later on Tuesday.
Commodity Futures Trading Commission Chairman Gary Gensler called the report very preliminary.
"There is still a great deal of work to do and a great deal of information to be reviewed," Gensler told reporters in Washington.
Regulators and the exchanges have been under intense pressure to zero in on what triggered the May 6 meltdown and to find ways to uphold the integrity of U.S. markets.
A circuit breaker or a mechanism to halt trading across markets and in a single stock has emerged as one of the key solutions to protect investors.
The breakers will act as "speed bumps to help the market adjust quickly to the high levels of volatility," SEC Chairman Mary Schapiro said by video link from Washington at a conference in Boston.
The SEC and exchanges will propose later on Tuesday a circuit breaker that would halt trading in a stock for five minutes if it fell more than 10 percent in 5 minutes, multiple sources said.
One source said the breakers would apply between 9:45 a.m. and 3:35 p.m. EST, ending in time for the New York Stock Exchange's closing auction. The trial period will last six months ending in December.
The new curbs would align U.S. markets more closely to European markets, which have more muscular safeguards. Circuit breakers at the London Stock Exchange, for example, are based on the liquidity and volatility of individual stocks.
Regulators have been sifting through more than 17 million trades that occurred around the time the market went into free-fall. So far, they have discounted initial theories such as a computer hacker or terrorist activity. They have also dismissed the idea that a so-called fat finger triggered a large erroneous trade.
But no single cause has been articulated, now 12 days after the drop.
"I'm a little skeptical of this solution," Chao Chen, a portfolio manager at TFS Capital, said of circuit breakers. "The most important thing is to figure out what happened, because it seems to me that people are nervous in general about where the market is going."
Circuit breakers that would halt trading across all markets are also being considered. This would give investors time to digest any news and adjust trading strategies. There are already broad index-based breakers in place, but those were not tripped when the market shot down and then recouped some of its losses in less than 20 minutes that afternoon.
Regulators are mulling breakers that would temporarily stop trading when the broader market falls 5 percent, people familiar with the talks told Reuters. That is tighter than the minimum 10 percent threshold already in place.