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  • #316,341
  • Oct 29, 2010 10:40am Oct 29, 2010 10:40am
Some nice sardines today, check out USD/JPY, 50 pips or so from all time low...
  • #316,342
  • Oct 29, 2010 10:41am Oct 29, 2010 10:41am
Quoting tritom
it bounces off 200EMA on M1, M5 & M15 atm
Don't you use the 200SMA?
  • #316,343
  • Oct 29, 2010 10:44am Oct 29, 2010 10:44am
Quoting fxvoilaaa
Don't you use the 200SMA?
EMA's move too much for me
Know when to hold em, Know when to fold em!
  • #316,344
  • Oct 29, 2010 10:45am Oct 29, 2010 10:45am
it looks like we are losing grounds again.
Prices are never too high to begin buying or too low to begin selling.
  • #316,345
  • Oct 29, 2010 10:49am Oct 29, 2010 10:49am
Price not even reach to the mark 3940-50 , even that trying best correction at lower levels , after recent break out may do more to 3869-48 but up intention still intact .
lets see how far this pullback.
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #316,346
  • Oct 29, 2010 10:58am Oct 29, 2010 10:58am
Quoting fontu
Price not even reach to the mark 3940-50 , even that trying best correction at lower levels , after recent break out may do more to 3869-48 but up intention still intact .
lets see how far this pullback.
fontu
It bounced off new falling trend line to the pip...
Attached Image (click to enlarge)
Click to Enlarge Name: Eutl.jpg Size: 225 KB
  • #316,347
  • Oct 29, 2010 11:03am Oct 29, 2010 11:03am
Quoting fxvoilaaa
Still possible to predict correctly though.
Think of it this way.

Logically, if future prediction of pricemovement was able to be done consistenlty AND accurately enough to be profitable off of, most of the wanna be psychics in this thread and others like it would be multi millionaires in short order.

I think most of the time when someone comes in a thread and makes prediction i'ts because they just learned some method and think it's hot sh!@, can't lose, or for some reason feel a need to make a prediction and be right to make others think they know what they are doing. Ans so they can say, "look see I was right I'm awesome." Of course when they make a bold prediction and are badly wrong their posts about it are usually no where to be found.

Which is the very reason I ignore people who make predictions without some reason that involves price action or news to back it up.
  • #316,348
  • Oct 29, 2010 11:06am Oct 29, 2010 11:06am
Bull taking high risk to set support to go up
Suddenly if bear come back at lower level it will be bull failure. And bull failure will be a great advantage for bear in next week
You cannot learn better without losing
  • #316,349
  • Oct 29, 2010 11:06am Oct 29, 2010 11:06am
Quoting goods
EMA's move too much for me
EMA are smoother, are they not?
  • #316,350
  • Oct 29, 2010 11:07am Oct 29, 2010 11:07am
Quoting forexings
Bull taking high risk to set support to go up
Suddenly if bear come back at lower level it will be bull failure. And bull failure will be a great advantage for bear in next week
true true.
  • #316,351
  • Oct 29, 2010 11:08am Oct 29, 2010 11:08am
Quoting FibbinArchie
It bounced off new falling trend line to the pip...
yeah , minor one & already tested break .
wanted see this bull in the bear set up actually allowed success or a real bull to eventually develop in time at the lows but no pressure either side & hanging pa here .Messy brain views still intact .
lets see
Nothing works in the mofu though as gators wrote earlier .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #316,352
  • Oct 29, 2010 11:10am Oct 29, 2010 11:10am
Quoting fontu
yeah , minor one & already tested break .
wanted see this bull in the bear set up actually allowed success or a real bull to eventually develop in time at the lows but no pressure either side & hanging pa here .lets see
Nothing works in the mofu though as gators wrote earlier .
fontu
It would interesting to get Malcolm's input re. accumulation/distribution, I think we are setting up for some explosive action next week...
  • #316,353
  • Oct 29, 2010 11:12am Oct 29, 2010 11:12am
Next friday should be major news and I am thinking that we may be ranging until then. We may be in waiting mode so no strong action by either bears or bulls, all waiting to see the way things are going to tip after the news.
  • #316,354
  • Oct 29, 2010 11:15am Oct 29, 2010 11:15am
I know, it is terrible now, but u have lows and highs and I put just few pips to turn positions. For ending diagonals is typical to reach previous wave 4 (not here), secondary my MACD H4 shows "triangle" or more "bull flag" is coming.
I like EW theory, just the corrections are bad to forecast. Second wave was sharp and we are somewhere in 4 , it is just mater of time to reach 1.41 and more, I've bought all my positions at 1.2650 and now i play just with small lots max. 10, now is surf season and I just control end of wave 5 to be ready buy something bigger and wait till 1.18 or less
For now 1.3955 is important to confirm possible ABC and then D or 3 of 5 or or or - Elliott was funny but what is important, he was looking just on daily candles :-) he had less stress

nice wk

Quoting infinitus
Hi,

nice to see one more with a sense for Elliott Wave :-)

Yes, I think we can discard the wave 5 up. It looks impulsive, but structure is clearly corrective. But hey, maybe we get an ending diagonal which is 3-3-3-3-3

At this point we have way too much options to make a really educated guess. We are since weeks now in a completely corrective mess. I am feeling happy, when I am right for a few hours LOL

Venezuela - very nice.

So enjoy your time.

Greetings to "Nueva Barcelona del Cerro Santo",

Markus
  • #316,355
  • Oct 29, 2010 11:20am Oct 29, 2010 11:20am
Quoting fxvoilaaa
EMA are smoother, are they not?

yes but to be honest ema's they tell you if price is above it or below it. I really dont believe the 200 ema is used much except for a possibly a weekly, monthly chart. I doubt they are even really used much on a daily chart. Banks and big dogs will trade what they want you need to find what it is they are doing.

after doing research, I never really was big into fibs but I am really starting to see some order to them. Daily pivot levels also are nice to look at just for a speclation.

Most thing I learned though is buy a rising market and sell a declining market (this will have to be seen from your own eyes)
Know when to hold em, Know when to fold em!
  • #316,356
  • Oct 29, 2010 11:21am Oct 29, 2010 11:21am
micro price is making higher lows again after this consolidation, perhaps next leg up for a bigger high
Know when to hold em, Know when to fold em!
  • #316,357
  • Oct 29, 2010 11:23am Oct 29, 2010 11:23am
Quoting fxvoilaaa
Don't you use the 200SMA?
I use 200EMA on M1 and enter frequently on pullbacks to it once a move is established.. I also have a 1000EMA there (that's M5 200EMA) and 3000EMA (that's M15 200EMA).. looking for confluences with pivots, fibs, murrey levels etc.. see how price reacts around them and you can make perfect entries with tight SL's..
:-anything
  • #316,358
  • Oct 29, 2010 11:29am Oct 29, 2010 11:29am
Quoting thorr
need to do some reading
i very much appreciate your help in that
so the FEd will make some decisions but its a matter of market ( companies/banks/people) to use it, if not whole this QE will not work again

have a nice weekend
Hi Thorr,

you are very right. It will not work again (but worked it last time, when we would need QE2).

Have a look at Japan. 20 Years of deflation, and that with zero cost for borrowing money.

If social mood is bad and people decide not to spend, then you have nothing in your hands. And to say it with Prechter, Roubini and other pundits:

You can not spend out of deflation, you have to produce out of deflation.


On my blog section about Deflation/Inflation you can access a wealth of information about this very topic for free from Elliott Wave International.

See here: http://singulorum001.blogspot.com/p/...inflation.html

I recommend reading John Mauldin newsletter regulary. This one about QE1 and QE2 I recommend especially:

http://www.frontlinethoughts.com/pdf/mwo100810.pdf

http://www.frontlinethoughts.com/gateway.asp
  • #316,359
  • Oct 29, 2010 11:38am Oct 29, 2010 11:38am
Quoting moonchild
Next friday should be major news and I am thinking that we may be ranging until then. We may be in waiting mode so no strong action by either bears or bulls, all waiting to see the way things are going to tip after the news.
I'm inclined to agree, but would add that the big syndicate professionals and insiders will undoubtedly already know the outcome, and will be positioning themselves in readiness for the move...

Always good to keep in mind that 95% of retail are the proverbial "wrong-way corrigans"
  • #316,360
  • Oct 29, 2010 11:39am Oct 29, 2010 11:39am
Gold and silver just popping right now ! Gold above 1350 to 1358 and silver at 24.5... BOOM !
US Dollar is trash... Get out of that Ponzi scheme !!!
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