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  • #299,741
  • Oct 1, 2010 2:23pm Oct 1, 2010 2:23pm
ah no just closed my EUR/EUR trade for 4000 pips fk. Ah well 2 pip stop cant complain
Time hides Nothing
  • #299,742
  • Oct 1, 2010 2:23pm Oct 1, 2010 2:23pm
putting in the high for the week after-hours on a Friday. I'm gonna go out on a limb here and say that's a bullish sign.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #299,743
  • Oct 1, 2010 2:24pm Oct 1, 2010 2:24pm
Quoting CindyXXXX
ah no just closed my EUR/EUR trade for 4000 pips fk. Ah well 2 pip stop cant complain
were those "baby" pips or "daddy" pips?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #299,744
  • Oct 1, 2010 2:26pm Oct 1, 2010 2:26pm
Quoting Mr Hatch
well, i am not convinced that technical analysis goes out of the window in the future... basically any means of ta that i got aware of up to now has it's use. fill a room with 12 people, each 2 of them analyse a chart using the same techniques, put the analysis together and probably you have a very successful team making very good money. it's just that individuals will have severe problems with these manipulated tours-des-forces...
I didn't mean to suggest there is no place for TA. I've lived by it for too long. It's just that there are occasions when you have to give way to forces which you can't control. Trick is to recognise them as soon as you can!
  • #299,745
  • Oct 1, 2010 2:30pm Oct 1, 2010 2:30pm
Top bolli now 13805. Amazing. They'll probably get it. Seems easy enough. No sense in the last three hours, either here, DX or USD/Yen
  • #299,746
  • Oct 1, 2010 2:34pm Oct 1, 2010 2:34pm
Quoting Mr Hatch
yes, and from a fundamental viewpoint, this whole rally started immediately after any media in germany reported how good our economy works atm and that export-business is booming... what will these reports say next spring?
I am not so much in a worry about Germany as a so strong exporter!
But for the US ! How can a country live in such a prosperity without producing and exporting their stuff ?For the last 25 years just in making debts the US Gov as the little homeowner!A fivth of US homeowners is "really " under water . This was their money generating maschine .
  • #299,747
  • Oct 1, 2010 2:36pm Oct 1, 2010 2:36pm
We might hit some resistance at 1.38 region which could knock down he price to 1.35 region. If this holds then might touch 1.4 on the next round. If not then down 1.33 and to 1.305 if it does't hold
  • #299,748
  • Oct 1, 2010 2:39pm Oct 1, 2010 2:39pm
Quoting penycae
I didn't mean to suggest there is no place for TA. I've lived by it for too long. It's just that there are occasions when you have to give way to forces which you can't control. Trick is to recognise them as soon as you can!
The Big Bullies draw the charts. They don't follow!...
  • #299,749
  • Oct 1, 2010 2:40pm Oct 1, 2010 2:40pm
Quoting techno79
Since the day is winding down, I may as well ask, though most are probably done for the day. For the scalpers short term traders(maybe longer termers too), if you're playing off a support or resistance, are you all looking for confirmation or jump right in with tight stops? I've been doing confirmation this week, but after 10 min(2 five minute candles) I seem to enter a trade 10 pips after a touch.
Don't know if I'm being too safe, or just lucky.
If it weren't the end of the week, I'd say there's a divergence going on these 5 and 15 charts upwards....
Well, i'm not waiting for confirmation, i just jump in with tight stoploss, but i do this only when there is a strong (horizontal) support/resistance or fibo. I guess that's what is called 'catching a falling knife'.
  • #299,750
  • Oct 1, 2010 2:41pm Oct 1, 2010 2:41pm
Quoting pqt
The Big Bullies draw the charts. They don't follow!...
Yeah, I know, but all moves start from somewhere - if you see what I mean.
  • #299,751
  • Oct 1, 2010 2:48pm Oct 1, 2010 2:48pm
Quoting penycae
Yeah, I know, but all moves start from somewhere - if you see what I mean.
Of course they do, but if we are privy to their agenda, we'd all be millionaires, wouldn't we...?
  • #299,752
  • Oct 1, 2010 3:04pm Oct 1, 2010 3:04pm
http://www.cftc.gov/dea/futures/financial_lf.htm
  • #299,753
  • Oct 1, 2010 3:14pm Oct 1, 2010 3:14pm
Quoting pqt
Of course they do, but if we are privy to their agenda, we'd all be millionaires, wouldn't we...?
Which is exactly the point I made in my earlier posts. If a big wall of money makes the market move irrationally, don't fight it, even if it's contrary to the TA which preceded the move, and which works for you eight times out of ten.
I'm signing off now, as I've been on since 7.00 am GMT.
Have a good weekend.
  • #299,754
  • Oct 1, 2010 3:34pm Oct 1, 2010 3:34pm
Quoting 2046
The kumo on the weekly chart indicates a rather weak zone of resistance around 1.3900. the daily chart suggests S/R around 1.37500. on that basis I will not place any shorts until MACD and RSI confirm downward momentum.

Good luck with your stops... man goennt sich ja sonst nichts.
Take a look at monthly. It sits right under the Kuomo, looks like a retest of Kuomo.
  • #299,755
  • Oct 1, 2010 3:37pm Oct 1, 2010 3:37pm
Possible decision for up and down. Close above UTL why not look for 1.42xx. Else 1.33xx maybe. Have a nice weekend. Trade well
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  • #299,756
  • Oct 1, 2010 3:47pm Oct 1, 2010 3:47pm
greedy bulls:nerd:
  • #299,757
  • Oct 1, 2010 4:19pm Oct 1, 2010 4:19pm
Quoting Mr Hatch
actually, i cannot even remember the extraction, i just was told once to move my tongue a bit... it was a dream for somebody who cannot stand a dentist working in places i cannot see. i don't suffer any pain yet, which is fine, just had to take an extended nap.

the phone call follows, just not this weekend.

according to the longer tf-counts... i am eager to find out, where this extended wave will lead us, before we retrace significantly. yesterday you said, that malcolm's count was invalid, because the move starting at 1.8 wasn't impulsive......

Hey,

good to hear that. Last time I had not so much luck with my dentist :-(

But take care to take antiinflammatory drugs even when you have no pain.


Regarding the impulse count of malcolm:

First, his wave 5 is steeper than wave 3. Remember: wave 5 is the sucker rallye, and wave 3th are normally the waves which are most violent.

Second: When this was the start of a new impulse, what are we doing now after the first small 5 with a new maximum in sentiment: 5% USD Bulls and 95% EUR Bulls. That exceeds the bullishness of EUR Bulls prior to the last significant drop (which led us to 1.18).

Third: RSI should reach max-levels in a wave three, not a wave 5 like now (in malcolm's count)

Fourth: Awesome Oscillator is a good indicator to spot, where the waves are.
And with Malcolms count we have on dailies chart the highest readings right now, but highest readings you will find everytime in a wave 3.

Fifth: Elliott Wave is not only pure counting. It best has to be underlaid with sentiment data, because the waves are the mirror of psychology .


Hope that clarifies my statement :-)

Markus
  • #299,758
  • Oct 1, 2010 4:22pm Oct 1, 2010 4:22pm
Quoting special0nefx
Possible decision for up and down. Close above UTL why not look for 1.42xx. Else 1.33xx maybe. Have a nice weekend. Trade well
Expect a little throw over, than back to south
  • #299,759
  • Oct 1, 2010 4:59pm Oct 1, 2010 4:59pm
Why is this thing keep going up without resting for a day or two.... I'm trying to short it since 1.3400 but it keeps going up... Damn it....
Failure is the mother of success: learn from 'her'
  • #299,760
  • Oct 1, 2010 5:01pm Oct 1, 2010 5:01pm
Quoting K7420
Why is this thing keep going up without resting for a day or two.... I'm trying to short it since 1.3400 but it keeps going up... Damn it....

its shaking all shorts out.........when all are long, it will collapse. Big money gets the first shorts.
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