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  • #284,041
  • Aug 20, 2010 3:17am Aug 20, 2010 3:17am
Quoting Faller
I have noted that alot of the traders here use an hour chart and even a 4 hour chart when they are talking about price action etc........I was wondering if anyone could explain how you pick your long and or short entries with such a long timeframe.

Thanks in advance to anyone that replies.
In longer time frame.. i dont think so that picking an entry level is important.. the most important thing you got the clear direction in which way it go.. then pick the entry either is short or long.. and have a reasonable stop loss in your mind..
  • #284,042
  • Aug 20, 2010 3:18am Aug 20, 2010 3:18am
Still Long on Eur/Usd. I only trade technical, we'll just have to see what the European 1hr opening does
  • #284,043
  • Aug 20, 2010 3:20am Aug 20, 2010 3:20am
The volume is getting stronger...this hour might set the tone until NY comes in!
COT: The precious data ignored
  • #284,044
  • Aug 20, 2010 3:24am Aug 20, 2010 3:24am
Quoting sisse
Thanks for the good link. Very clear guy. His arguments are excellent. He is almost on the spot in what is happening during the last weeks: buy Japanese bonds, run away from Stocks.... the only thing left to confirm his views is the bet on European debt default which is definitively not a crazy option but that's the only part that hasn't going worst the last few weeks (but still is way too early to call the end of the debt crisis so he may hit the jackpot with his FUND)...

sisse
he put a figure on European bank debt verses u.s. banks comparably. i always thought 3 or 4 times.. but i will take his word for it. just like i have said a ponzi scheme for japan. stick a fork in japan.. . and a shell game for the e banks.. now if if the ecb is printing is yet to be known. but now you see how the bs bond sales are bought. as for as japan goes.. there will be some pissed off people if it crashes.. but it cant be stopped. the spend 200% of what they take in..once the little boy says "the kings has no clothes" the adults will see..eventually... then we resume...with hyperspeed..
those who can, do. those who cant, talk about those who can
  • #284,045
  • Aug 20, 2010 3:25am Aug 20, 2010 3:25am
Quoting Faller
When you see what you want to see on the larger TF do you then look to a shorter TF to pick a more exact entry? Otherwise it seems like you would be missing a good part of a move???? Sorry if this seems to be a lame quesiton - I am still relativly new at this (been trading and learning on my own for just over a year - no bought courses) just my own sweat and tears........of and also joy in there also....otherwise I would not still be learning!

Thanks for any insight you can offer........
No. You have a better, stronger signal on bigger time frame, and now you want to go to smaller tf and take less reliable signal? The lower you go, the noisier PA becomes.
  • #284,046
  • Aug 20, 2010 3:27am Aug 20, 2010 3:27am
Quoting gatorinla
he put a figure on European bank debt verses u.s. banks comparably. i always thought 3 or 4 times.. but i will take his word for it. just like i have said a ponzi scheme for japan. stick a fork in japan.. . and a shell game for the e banks.. now if if the ecb is printing is yet to be known. but now you see how the bs bond sales are bought....
maybe the personal saving rate of japan individuals is dropping. but most of the debt is owed by institutional public entities if i remember well
Andreyou
  • #284,047
  • Aug 20, 2010 3:34am Aug 20, 2010 3:34am
Quoting andreypu
maybe the personal saving rate of japan individuals is dropping. but most of the debt is owed by institutional public entities if i remember well
it don't matter.. when you spend 200% of what you take in.. in the future they will have to pay more % to get buyers. meanwhile the yen rises hurting them each tick of the clock (exports).. to add salt to the wound they are aging population. and now have to compete with china and other Asian countries.
and the yen climbs.... tock........ its a mofu living on a volcano

hey.. and the e banks passed the stress test.. i feel safe now. dont you?
those who can, do. those who cant, talk about those who can
  • #284,048
  • Aug 20, 2010 3:37am Aug 20, 2010 3:37am
Quoting Faller
I have noted that alot of the traders here use an hour chart and even a 4 hour chart when they are talking about price action etc........I was wondering if anyone could explain how you pick your long and or short entries with such a long timeframe.

Thanks in advance to anyone that replies.
H4 gives me the hint of direction, h1 is the current PA, m15 is very good for picking up entries, m5 for scalping

The forest (h4) consist of trees (h1 and m15) and leafs (m5)
  • #284,049
  • Aug 20, 2010 3:37am Aug 20, 2010 3:37am
Quoting T.E.Lawrence
No. You have a better, stronger signal on bigger time frame, and now you want to go to smaller tf and take less reliable signal? The lower you go, the noisier PA becomes.

Thanks for the input everyone.....and for sharing your thoughts.

Cheers...
I don't trust any move - when you have profit...take it.
  • #284,050
  • Aug 20, 2010 3:39am Aug 20, 2010 3:39am
at last
  • #284,051
  • Aug 20, 2010 3:39am Aug 20, 2010 3:39am
eur/gbp cannot break range upside, so looks we are going down when gbp/usd is definitely going there atm.
They think they are smarter than I am.
  • #284,052
  • Aug 20, 2010 3:40am Aug 20, 2010 3:40am
Quoting gatorinla
if we close below 2749 today its over. atm we are between to major fibs just 75 pips apart.. that makes this area super strong.. but since it was breached. i bet we get sucked down into it.. and back to 2133.5 and then some...
Indeed, 2725 still being a sweet spot for bulls' defences. I dont wanna make longer term analysis, but its obvious that in mid term (if it closes below ur 2749 or mine 2725) the first target is 2451
  • #284,053
  • Aug 20, 2010 3:43am Aug 20, 2010 3:43am
wanna buy from here for 30-40 pips..with stop loss 2760..
  • #284,054
  • Aug 20, 2010 3:43am Aug 20, 2010 3:43am
Looks like we know the direction for this morning..down!
But other currencies are not moving as much as eurusd...i don't like that
COT: The precious data ignored
  • #284,055
  • Aug 20, 2010 3:45am Aug 20, 2010 3:45am
Quoting T@rantula
Indeed, 2725 still being a sweet spot for bulls' defences. I dont wanna make longer term analysis, but its obvious that in mid term (if it closes below ur 2749 or mine 2725) the first target is 2451
well i am thinking either is just a #... if we get some bounce after 2703 and a close below ill chalk it up to a trend resumption.
those who can, do. those who cant, talk about those who can
  • #284,056
  • Aug 20, 2010 3:47am Aug 20, 2010 3:47am
Quoting kuroro001
Looks like we know the direction for this morning..down!
But other currencies are not moving as much as eurusd...i don't like that
when the euro decouples the others, it wont matter as much as it has in the last decade. Im looking for it to decouple from commodities then coattail riding will be over.
those who can, do. those who cant, talk about those who can
  • #284,057
  • Aug 20, 2010 3:52am Aug 20, 2010 3:52am
Quoting kuroro001
Looks like we know the direction for this morning..down!
But other currencies are not moving as much as eurusd...i don't like that
agree i overslept action lol ... Today morning i thought it's sunday and switched off alarm. LOL

Kuroro shorting caddy ?
  • #284,058
  • Aug 20, 2010 3:52am Aug 20, 2010 3:52am
God....the market ain't happy really
1,2640 for today ?
COT: The precious data ignored
  • #284,059
  • Aug 20, 2010 3:54am Aug 20, 2010 3:54am
Quoting kuroro001
God....the market ain't happy really
1,2640 for today ?
more then that.. if reality sinks in... lets see what 2749 and 33 area say
those who can, do. those who cant, talk about those who can
  • #284,060
  • Aug 20, 2010 3:55am Aug 20, 2010 3:55am
Quoting sopel
agree i overslept action lol ... Today morning i thought it's sunday and switched off alarm. LOL

Kuroro shorting caddy ?
Sunday ? lol
And no no, i'm not touching it today
You were right about the strong move up !!^^
COT: The precious data ignored
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