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  • #282,481
  • Aug 16, 2010 3:10pm Aug 16, 2010 3:10pm
Quoting wannaberich
but i am looking at a bullish wedge being formed. that's good enough for me
8h view
Attached Image
those who can, do. those who cant, talk about those who can
  • #282,482
  • Aug 16, 2010 3:13pm Aug 16, 2010 3:13pm
Quoting gatorinla
8h view
This is some crazy sideways grid action you got going on there. You're own invention?
  • #282,483
  • Aug 16, 2010 3:16pm Aug 16, 2010 3:16pm
It's Gann grid
  • #282,484
  • Aug 16, 2010 3:17pm Aug 16, 2010 3:17pm
Quoting uraceulose
hey man, you've and we've talked about the china bubble...would they not be able to just keep building and building though more or less to keep theirselves out of major problems?
i mean with the reserves built up, they should be able to create enough jobs to keep the people working and buying their new cell phones, etc right? from your perspective i mean
i guess we will see. my answer is no.. but timing is a mofu... gotta eat later
those who can, do. those who cant, talk about those who can
  • #282,485
  • Aug 16, 2010 3:23pm Aug 16, 2010 3:23pm
Will Asia buy also tonight Euro's ?
  • #282,486
  • Aug 16, 2010 3:31pm Aug 16, 2010 3:31pm
Quoting gatorinla
i guess we will see. my answer is no.. but timing is a mofu... gotta eat later
ok, i guess i better eat too. later
  • #282,487
  • Aug 16, 2010 3:33pm Aug 16, 2010 3:33pm
Quoting puma1
It's Gann grid
it may be. but it might not.

I've drawn up a few of his grids and they are not the same as Ganns..the ones that I have checked are close but not the same. that 8hr one i didn't try before posting
  • #282,488
  • Edited 4:09pm Aug 16, 2010 3:34pm | Edited 4:09pm
I didn't believe someone else shared my views on long term fundamentals, but here it seems there's at least a 80% match!

http://www.zerohedge.com/article/mat...l-be-lot-worse
Still I have a bit more faith in the human race in general. I think people won't allow for centuries of lost time, because of their own desire to live well, But before things get better they must get worse. How can the new system come without the old one being gone? Eventually I hope it will be more of an evolution, rather than REvolution.
PS: I don't agree with them on gold tho. It's just as worthless as paper, only that it's a shiny metal instead with some applications in real industry. But then so is paper
  • #282,489
  • Aug 16, 2010 3:54pm Aug 16, 2010 3:54pm
Quoting gatorinla
8h view
just tl placed an equal distance apart. but unlike gann grid i can use different perspectives,, because each direction has it own value. its why the number are different colors.. more of the Andrews pitchfork style.
those who can, do. those who cant, talk about those who can
  • #282,490
  • Aug 16, 2010 4:00pm Aug 16, 2010 4:00pm
Quoting gatorinla
just tl placed an equal distance apart. but unlike gann grid i can use different perspectives,, because each direction has it own value. its why the number are different colors.. more of the Andrews pitchfork style.
but whats the initial distance? or when is it decided? from one pitchfork?
  • #282,491
  • Aug 16, 2010 4:19pm Aug 16, 2010 4:19pm
Quoting uraceulose
but whats the initial distance? or when is it decided? from one pitchfork?
100, 200, 300. so on you may have to use negatives also... you can also use 150 200 250 etc... use you fib channel and change the values.. you will have to play with it ... but the channel at least on my meta is only good on the tf it was drawn on.. it gets distorted if you change.. just find a tl you like the drag the line to the next high or low in that channel..
those who can, do. those who cant, talk about those who can
  • #282,492
  • Aug 16, 2010 4:40pm Aug 16, 2010 4:40pm
Btw to people looking to go short equities I'd suggest patience. A technical rally is highly probable right now and it should be an excellent selling opportunity aiming for a break below 10000 DJ. As long as 10354 offers resistance I remain an immediate seller. Only a breach and hold of 10354 confirms the short term rally. Tomorrow there's lots of US data which I expect to be mixed or bad and it could be a good day to break out of the current extra tight range. I await with special interest(and expect them to be quite poor) the industrial and capacity data, also the mortgage data.
  • #282,493
  • Aug 16, 2010 4:43pm Aug 16, 2010 4:43pm
Quoting uraceulose
i don't get what you mean here...you guys cant raise the cattle to make the burgers or grow the potatoes to make the fries..

so you're going to buy it from us?
McDonalds sources most of what they serve (meats, potatoes, breads, etc) locally grown in the countries they serve.

The infrastructure come from here but some as well from European companies. If you are curious look up a company called Franke. Swiss based, they the biggest or one of the biggest McDonalds equipment supplier.
  • #282,494
  • Aug 16, 2010 4:47pm Aug 16, 2010 4:47pm
Quoting gatorinla
100, 200, 300. so on you may have to use negatives also... you can also use 150 200 250 etc... use you fib channel and change the values.. you will have to play with it ... but the channel at least on my meta is only good on the tf it was drawn on.. it gets distorted if you change.. just find a tl you like the drag the line to the next high or low in that channel..
gator, if you want to fix the distorted TL's on a different time frame, you have to manually scroll to where you started the TL on that different time frame and it will correct itself. just figured this out the other day
  • #282,495
  • Aug 16, 2010 4:48pm Aug 16, 2010 4:48pm
Quoting Masrim
Btw to people looking to go short equities I'd suggest patience. A technical rally is highly probable right now and it should be an excellent selling opportunity aiming for a break below 10000 DJ. As long as 10354 offers resistance I remain an immediate seller. Only a breach and hold of 10354 confirms the short term rally. Tomorrow there's lots of US data which I expect to be mixed or bad and it could be a good day to break out of the current extra tight range. I await with special interest(and expect them to be quite poor) the industrial and capacity...
what does that mean for dollar? will euro rally in response or will bad news lead to further safe haven flows?
  • #282,496
  • Aug 16, 2010 4:55pm Aug 16, 2010 4:55pm
Quoting monkey@forex
what does that mean for dollar? will euro rally in response or will bad news lead to further safe haven flows?
I suspect that the dollar will benefit the least of all safe trades undermined by low US yields. The dollar is strongly and directly linked to industry and manufacturing. Watch the industrial and capacity numbers tomorrow. If we see very bad numbers there I guess the dollar will get hammered really hard versus most currencies except maybe AUD. If we see positive surprises though the dollar will rally, probably along with stocks, which is unusual yet possible.
  • #282,497
  • Aug 16, 2010 5:03pm Aug 16, 2010 5:03pm
thanks, although its really difficult to see positive numbers as consumption is really low generally, il stay long with my target the 50% retracement of this recent fall, maybe euro will test 1.3000 over the next two days
  • #282,498
  • Aug 16, 2010 5:05pm Aug 16, 2010 5:05pm
Quoting Masrim
I suspect that the dollar will benefit the least of all safe trades undermined by low US yields. The dollar is strongly and directly linked to industry and manufacturing. Watch the industrial and capacity numbers tomorrow. If we see very bad numbers there I guess the dollar will get hammered really hard versus most currencies except maybe AUD. If we see positive surprises though the dollar will rally, probably along with stocks, which is unusual yet possible.
Since I've been trading mostly equities lately, I had to check again my EUR/USD charts and found something interesting you might wanna see - an emerging H&S possibility on the 4H. And guess where's the projected top for the right shoulder? At about 1.3000, just as you suggested
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  • #282,499
  • Aug 16, 2010 5:09pm Aug 16, 2010 5:09pm
Quoting Masrim
Since I've been trading mostly equities lately, I had to check again my EUR/USD charts and found something interesting you might wanna see - an emerging H&S possibility on the 4H. And guess where's the projected top for the right shoulder? At 1.3000, just as you suggested
thats encouraging, lets see what happens tomorrow, euro has been forming a bullish wedge on the M30, although the lower lows on the hourly contradicts, im gonna get some shuteye, good luck all
  • #282,500
  • Aug 16, 2010 5:11pm Aug 16, 2010 5:11pm
Quoting monkey@forex
thats encouraging, lets see what happens tomorrow, euro has been forming a bullish wedge on the M30, although the lower lows on the hourly contradicts, im gonna get some shuteye, good luck all
Good luck to you too!
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