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  • #305,321
  • Oct 12, 2010 5:43pm Oct 12, 2010 5:43pm
Okay. A man with a plan.
Quoting Geppy
I'm looking to get short EUR/USD @ 1.3965 and GBP/USD @ 1.5850... details in the blog, but I think we're due for a bit of a correction before the bullish trend continues the march higher.
  • #305,322
  • Oct 12, 2010 5:43pm Oct 12, 2010 5:43pm
Quoting nawafasad1
this is a my view and obviously bulls and bears will agree on the level coming is to short .
thank you.
  • #305,323
  • Oct 12, 2010 5:44pm Oct 12, 2010 5:44pm
Quoting infinitus
So far I have 6 pips by shorting.......
so far 96 pips by longing

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  • #305,324
  • Oct 12, 2010 5:44pm Oct 12, 2010 5:44pm
Quoting T@rantula
The correction is probably over. 3760 was missed. We had a MOMENTUM break of 3850.
Maybe, but not likely. A pop of the daily trendline at these levels with bearish divergence on the daily makes this a pretty good entry.....

The break of 3850 was a bliss rally. We'll see another if/when QE2 is officially launched. Then, I'll be looking to sell the news.....

I'm not saying that I think this is in the bag for bears....yesterday's daily candle is sure to cause confusion, and given how strong this trend has been, I expect some death spasms into the retrace.....I do expect a bounce....
  • #305,325
  • Oct 12, 2010 5:46pm Oct 12, 2010 5:46pm
Quoting DMA Trader
all TF's bullish. not monthly.

some resistance near 1.395 - then 1.4 then 1.42
And we had a futile correction last day. h1 was bearish m30 also and h4 long trending prevailed.

3760 should have been touched to extend this correction.

Long.Yes.
  • #305,326
  • Oct 12, 2010 5:47pm Oct 12, 2010 5:47pm
I'm with Geppy and looking to short EU and GU when they retest the trend line.

The start of a medium term correction is on the way.
  • #305,327
  • Oct 12, 2010 5:50pm Oct 12, 2010 5:50pm
Quoting DMA Trader
all TF's bullish. not monthly.

some resistance near 1.395 - then 1.4 then 1.42


If you are waiting for confirmation, you will miss the best part of the party.

Big boys have positioned before. The trick is only to know where.

Give Murrey Math a try.


Best to you,
Markus
  • #305,328
  • Oct 12, 2010 5:50pm Oct 12, 2010 5:50pm
Quoting Mr Hatch
thank you.
the other view that we could count this rally as a correction so it s not very clear till we get to 1.3850 . i hope it helps in any way
  • #305,329
  • Oct 12, 2010 5:52pm Oct 12, 2010 5:52pm
Quoting PriceVolume
Maybe, but not likely. A pop of the daily trendline at these levels with bearish divergence on the daily makes this a pretty good entry.....

The break of 3850 was a bliss rally. We'll see another if/when QE2 is officially launched. Then, I'll be looking to sell the news.....

I'm not saying that I think this is in the bag for bears....yesterday's daily candle is sure to cause confusion, and given how strong this trend has been, I expect some death spasms into the retrace.....I do expect a bounce....
I have entered on H4. Reading PURE price action. I trade swings w/o any indicator. I spot reversals and patterns. We had a momentum upbreak of 3850 thats a good sign of bullish continuation.

As for the confusion... The trend was down all day long before US session on every TF except h4. h1 chart and h4 were not aligned. 3760 should have been a daily target but bear failed @ 3803. Look at H4. The price made a nice turn rebounding from SMA. Thats a pure price action

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  • #305,330
  • Oct 12, 2010 5:53pm Oct 12, 2010 5:53pm
Quoting nawafasad1
the other view that we could count this rally as a correction so it s not very clear till we get to 1.3850 . i hope it helps in any way
right now, i'd say, i'm at a loss with ew... but it's far too early to say, i understood the basics of it. the very basics, yes, but the corrections and extensions... wow... give it another 6 months at least.
  • #305,331
  • Oct 12, 2010 5:55pm Oct 12, 2010 5:55pm
Quoting T@rantula
And we had a futile correction last day. h1 was bearish m30 also and h4 long trending prevailed.

3760 should have been touched to extend this correction.

Long.Yes.
I am currently following also a downtrend scenario where 1.395 area would be big resistance. i think more important than 1.4

1.395
- not even one daily close above
- former uptrend line - price could hit the line in the area depending on time
- downtrend line - better view in 1H chart
- a possible H&S with RS near 1.395 it can be seen better on USX.
- also divergence on my 6h chart.

So should be an important level that bears are well aware of.

Let's see.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #305,332
  • Oct 12, 2010 5:55pm Oct 12, 2010 5:55pm
Quoting T@rantula
I have entered on H4. Reading PURE price action. I trade swings w/o any indicator. I spot reversals and patterns. We had a momentum upbreak of 3850 thats a good sign of bullish continuation.

As for the confusion... The trend was down all day long before US session on every TF except h4. h1 chart and h4 were not aligned. 3760 should have been a daily target but bear failed @ 3803. Look at H4. The price made a nice turn rebounding from SMA. Thats a pure price action

Attachment
Hey man - you got to trade your plan. I'm just saying that a pop of the daily trendline, particularly given the "straight up" nature of the bull rally PA over the past few weeks, is certainly noteworthy. Among other things, of course....
  • #305,333
  • Oct 12, 2010 5:56pm Oct 12, 2010 5:56pm
Quoting infinitus
If you are waiting for confirmation, you will miss the best part of the party.

Big boys have positioned before. The trick is only to know where.

Give Murrey Math a try.


Best to you,
Markus


<on a 15min chart with MM trading lines with P=256 you would have seen, that price ran from -1/8 without a change in trend to nearly +2/8. That were 11 Octave-Lines

Only judging fro that the chance was nearly 100% that it would return.

The chance, regardless from where the price comes at a +2/8 or -2/8 to reverse is nearly 100%, too (on first attempt)


Use MM with Elliott Wave - likely not holy grail, but close to it......
  • #305,334
  • Oct 12, 2010 5:57pm Oct 12, 2010 5:57pm
Quoting PriceVolume
Hey man - you got to trade your plan. I'm just saying that a pop of the daily trendline, particularly given the "straight up" nature of the bull rally PA over the past few weeks, is certainly noteworthy. Among other things, of course....
  • #305,335
  • Oct 12, 2010 6:00pm Oct 12, 2010 6:00pm
Quoting T@rantula
I have entered on H4. Reading PURE price action. I trade swings w/o any indicator. I spot reversals and patterns. We had a momentum upbreak of 3850 thats a good sign of bullish continuation.

As for the confusion... The trend was down all day long before US session on every TF except h4. h1 chart and h4 were not aligned. 3760 should have been a daily target but bear failed @ 3803. Look at H4. The price made a nice turn rebounding from SMA. Thats a pure price action

Attachment
So you decide to go long?
  • #305,336
  • Oct 12, 2010 6:02pm Oct 12, 2010 6:02pm
Quoting DMA Trader
I am currently following also a downtrend scenario where 1.395 area would be big resistance. i think more important than 1.4

1.395
- not even one daily close above
- former uptrend line - price could hit the line in the area depending on time
- downtrend line - better view in 1H chart
- a possible H&S with RS near 1.395 it can be seen better on USX.
- also divergence on my 6h chart.

So should be an important level that bears are well aware of.

Let's see.
Im more inclined to high probability trading atm. I will revise analysis early in the morning ( +2 gmt). Now I wish u a good night.
  • #305,337
  • Oct 12, 2010 6:03pm Oct 12, 2010 6:03pm
Quoting infinitus
So you decide to go long?
if u look at my chart above i have collected 96 pips so far by this high probability swing trade
  • #305,338
  • Oct 12, 2010 6:06pm Oct 12, 2010 6:06pm
Quoting Mr Hatch
i don't know what to think of the market as such these days. publishing past minutes is enough level up, that new level kept meticulously, all sellers basically vanished again.

btw: lost 3$ on this shitty move. *rant mode off*

Brutal market, yes. Ruined a few trades. However, if we have started wave 3 down and we have a top in place, it's quite normal to retrace and test broken tl's. We may just finished that. Remains to see, but I am short @ 3943. Tight sl.

#305327
  • #305,339
  • Oct 12, 2010 6:07pm Oct 12, 2010 6:07pm
Quoting Mr Hatch
right now, i'd say, i'm at a loss with ew... but it's far too early to say, i understood the basics of it. the very basics, yes, but the corrections and extensions... wow... give it another 6 months at least.
even the best of traders get it a lot of times wrong but it s a very good and strong way of trading cause if you were wrong it s alright you ll just have to relabel your count
  • #305,340
  • Oct 12, 2010 6:08pm Oct 12, 2010 6:08pm
Quoting T@rantula
if u look at my chart above i have collected 96 pips so far by this high probability swing trade
Long or short from here?


Congrats to the 96 pips :-)
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