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  • #14,081
  • Sep 21, 2010 11:45am Sep 21, 2010 11:45am
Quoting extraneo
Ok, I changed the colors, so we understand each other better.
The reasons for taking the trade:
1) Boss, Big Boss and Worker are aligned;
2) primary trend down;
3) strong rejection from 1.6200 with PA;
4) bouncing down the trendline (calculated at close) bearish on August 26.
But, there is strong support at 1.59
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,082
  • Sep 21, 2010 11:55am Sep 21, 2010 11:55am
Quoting strat
But, there is strong support at 1.59

Thanks for the reply Strat
Is true, I pointed out why not take the trade, but in the previous post I highlighted the strong support 1.5900 and the need for caution, putting BE into that area.
  • #14,083
  • Sep 21, 2010 12:03pm Sep 21, 2010 12:03pm
Quoting extraneo
Ok, I changed the colors, so we understand each other better.
The reasons for taking the trade:
1) Boss, Big Boss and Worker are aligned;
2) primary trend down;
3) strong rejection from 1.6200 with PA;
4) bouncing down the trendline (calculated at close) bearish on August 26.
You forgot one thing the Boss for this week has not closed yet. You can not count it as down and aligning with Big Boss yet because she may close positive.
  • #14,084
  • Sep 21, 2010 12:15pm Sep 21, 2010 12:15pm
Quoting patrick25
You forgot one thing the Boss for this week has not closed yet. You can not count it as down and aligning with Big Boss yet because she may close positive.
Hi, Patrick,
I view the swing low weekly unconfirmed and I thought the trend is still bearish
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  • #14,085
  • Sep 21, 2010 12:33pm Sep 21, 2010 12:33pm
Quoting extraneo
Hi, Patrick,
I view the swing low weekly unconfirmed and I thought the trend is still bearish
Correct, but if you want B and BB to align you have to wait for it to close. Take a look at BB and B line charts. The Boss line chart I deleted this week candle and showing last week close only.
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  • #14,086
  • Edited 12:55pm Sep 21, 2010 12:41pm | Edited 12:55pm
Quoting patrick25
Correct, but if you want B and BB to align you have to wait for it to close. Take a look at BB and B line charts. The Boss line chart I deleted this week candle and showing last week close only.

Is a pleasure and an honor for me to discuss with Strat, you and others.
So Patrick, I would advance the trade?
I should wait for the close candle weekly and look for a pullback with PA?

EDIT: these dialogues are derived valuable lessons, designed to learn how to fish.
Thanks to Master Strat!
  • #14,087
  • Sep 21, 2010 1:48pm Sep 21, 2010 1:48pm
Quoting extraneo
Is a pleasure and an honor for me to discuss with Strat, you and others.
So Patrick, I would advance the trade?
I should wait for the close candle weekly and look for a pullback with PA?

EDIT: these dialogues are derived valuable lessons, designed to learn how to fish.
Thanks to Master Strat!
I would stay out of this pair for now. Reasons: 1.5800-5900 levels are strong support, trend line right below it, price is in between the range. I would wait for notifiable PASR then evaluate B and BB again.
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  • #14,088
  • Sep 21, 2010 3:13pm Sep 21, 2010 3:13pm
hi Strat and all,

this is my first trade in last two and half weeks. i am confused if its a Strat's PASR trade or not. anyways i took the trade for following reasons

- after breaking the resistence at 0.8310 last monday, price tested it as support for remaining week while 100MA acted as resistence this time. yesterday price broke 100MA with a strong BUOB/BUEB. 20 has crossed 50 with a steep slope indicating further higher prices. RR for this trade is great with SL of 125 pips and TP of 250 pips
- immediate boss trend is up. while BB is shaping up a nice bullish candle although just below the 20MA.

comments and critisim are required from all of you.

A Newbie Trader
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  • #14,089
  • Sep 21, 2010 4:04pm Sep 21, 2010 4:04pm
http://ts2.mm.bing.net/images/thumbn...d309&index=ch1

Yep....sure. That was in June, when the EURO was just a bit south of its level from October of 2008. How many of you took this one in June?; How many saw it in August? How many are just arriving at the party?

How many are aware of how close the value of USDJPY is to what it was in January 2009? Is the BOJ aware?.....Nah! What do they know?
  • #14,090
  • Sep 21, 2010 4:12pm Sep 21, 2010 4:12pm
Quoting Alexandra
http://ts2.mm.bing.net/images/thumbn...d309&index=ch1...
hi Alexandra..
its Funny you mention this ..because the great trader Sir John Templeton was asked about how he invests..and he replied ..
" i want to BUY where the outlook is the Bleakest,where there are riots in the Street ( i think he was refering to CHILE ?) where there is pessimism and gloom ..and so on ..and on ""..
So ,yep ..you are in with the GREATS of TRADING ( STRAT included ofcourse !! )

baz
  • #14,091
  • Sep 21, 2010 4:18pm Sep 21, 2010 4:18pm
Quoting baz
hi Alexandra..
its Funny you mention this ..because the great trader Sir John Templeton was asked about how he invests..and he replied ..
" i want to BUY where the outlook is the Bleakest,where there are riots in the Street ( i think he was refering to CHILE ?) where there is pessimism and gloom ..and so on ..and on ""..
So ,yep ..you are in with the GREATS of TRADING ( STRAT included ofcourse !! )

baz
LOL - I used to invest with Templeton. No surprise. You may remember Jimmy Rogers as well, who shared that philosophy. Oh wait, who was his friend?.....That Eastern European guy....er...uh....starts with an "S."

The art is in pulling the trigger during the chaos, based on that subtle combination of technicals and fundamentals, and avoiding being crushed by the masses.
  • #14,092
  • Sep 21, 2010 4:37pm Sep 21, 2010 4:37pm
Quoting Alexandra
LOL - I used to invest with Templeton. No surprise. You may remember Jimmy Rogers as well, who shared that philosophy. Oh wait, who was his friend?.....That Eastern European guy....er...uh....starts with an "S."

The art is in pulling the trigger during the chaos, based on that subtle combination of technicals and fundamentals, and avoiding being crushed by the masses.
i am a " CHICKEN " ...actually i am the Guy who is Leading the Riots !!!!
But i understand what you are saying..it truly is a a difficult art ...
take care

baz
  • #14,093
  • Sep 21, 2010 5:12pm Sep 21, 2010 5:12pm
Doom and Gloom for the US in today's FMOC meeting so trash the $US and buy Euros.
15 YEARS OF PASR ON FOREX FACTORY!
  • #14,094
  • Sep 21, 2010 5:36pm Sep 21, 2010 5:36pm
I've been struggling trading for a few months now. I've been researching indicators trying to make the perfect system for about a year now. After reading a few price action posts I've realized how foolish I am!

After reading your post that Ol' Joe said I couldn't stop thinking about it.. hes so right! Why in the world have I been shorting when it's going up.. and selling when it's been going down! Such a newb..

Anyways I've been very interested in your thread and am only on page 30 as of now.. my dad has been trying to learn to trade also and he's trading the 30 second, 1 minute and 5 minute charts. I told him that the daily/weekly are the way to go after reading your thread and he just laughed at me. He said
"Why would you only make a few trades and have a huge loss when you could just ride the intraday moves, if you have 100k and I have a 100k and you trade the daily/weekly and I trade intraday I will make it to 1 million way faster then you because common sense would tell you if you're trading the intra day you're making a lot more pips then you could on the daily"

I disagreed with him, but he does have a point? I would love if you guys could talk about this? How would you make more money trading the daily then intraday when you're making pips both ways and one loser won't be a 100 pip loss but instead a 5 or less pip stop? I really want to trade the daily but he has a good point there.. I'm sure strat and you guys will be able to help me out on this subject.
Thanks for posting all the charts and all this wonderful information! You could have made thousands with this information you have given out and instead your helping others. I wish we had more people like you left in this world. Great work everyone!

Thanks,
Joe
  • #14,095
  • Sep 21, 2010 9:48pm Sep 21, 2010 9:48pm
Boss: Last week candle closed above high of candle 05/09, swing low was confirmed.
Worker: I see BUOB at 20EMA, minor support 1.3120
I have a trade long this pair, I expect to go up 1.37ish
Comments welcome!
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  • #14,096
  • Sep 21, 2010 9:59pm Sep 21, 2010 9:59pm
am also looking at this pair
however the beob on monthly has me distracted to go long.
  • #14,097
  • Sep 21, 2010 11:19pm Sep 21, 2010 11:19pm
Quoting beehivesjoe
I've been struggling trading for a few months now. I've been researching indicators trying to make the perfect system for about a year now. After reading a few price action posts I've realized how foolish I am!...

LOL see who has a bigger demo account in the next 6 months!

I would bet that your dads account would be in MAJOR drawdown by then and you on the other hand could easily have 10% + in profits IF you are patient.
  • #14,098
  • Sep 21, 2010 11:59pm Sep 21, 2010 11:59pm
Quoting glasso
Boss: Last week candle closed above high of candle 05/09, swing low was confirmed.
Worker: I see BUOB at 20EMA, minor support 1.3120
I have a trade long this pair, I expect to go up 1.37ish
Comments welcome!
50 is acting as R and price is trapped in between the 20 and 50

Both are deal breakers!

Also look at the two large tails on the boss chart this could turn into a trading range.
  • #14,099
  • Edited 3:23am Sep 22, 2010 3:09am | Edited 3:23am
BB: Between 20-50 ema, 20 is above 50 so trend is still up, both are pointing horizontal/neutral so expect it to go sideways before a move is made.

B: 20 below 50 with support around 20 and trying to align with the BB

Worker: 20 has just crossed 50 with a new HH and in alignment with the B.

Watching to see what PASR does around current R, it was last at this level back in July where it was rejected.

I am looking to go long if PASR shows the way above the current R to the next R some 130+ pips north.

If the blue support line is broken on the worker I will wait for the weekly to close and look at it again.

All TF's are close to allignment but can all change by the end of the week.

Any comments are most welcome.

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  • #14,100
  • Sep 22, 2010 4:24am Sep 22, 2010 4:24am
Eur facing strong resistance in my opinion, if this level holds that would be a nice opportunity for sellers to come into play.
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