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  • #317,441
  • Nov 1, 2010 4:52pm Nov 1, 2010 4:52pm
77.2 could act as support now. forme res.
today atemt to break downtrend on USX 1H failed. we'll se tomorrow if dollar bulls get's another atempt.

1.39 could be a good level to short. if not. 1.392-1.393 needs to hold for bearish case

Above that Eur bulls gain strength again.

4h still not decided yet still belongs to EUR bulls.

also RBA tonight if they don't raise rates. which i think will not happen could add some power to USD.

see you guys later.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #317,442
  • Nov 1, 2010 4:54pm Nov 1, 2010 4:54pm
I am not yet convinced this a signifigant bull upward yet.. waiting a bit longer to stay safe.
  • #317,443
  • Nov 1, 2010 4:55pm Nov 1, 2010 4:55pm
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
I posted this with my first attachment on Saturday night.

Quoting jaboo

If the professional traders (Smart Money) are interested in this thing going up, how come the previous up move wasnt with much volume and more importantly if its intended for a continuation of the move up, they didnt spend a great deal of time accumulating the supply as to not encounter resistance. Also if you look at the two previous tops they seemed more interested in selling to the buyers.

If we do move up from here im going to look for SM to test demand and then look for a nice ride south.
If we know anything about the professional traders we should know that if they want to go long they want to suck up all the supply first as to not encounter any selling pressure as price rises.

My guess, since after such a nice steep rise, SM wants to dump everything on the buyers and at a later date find a spot where the price is right for them to accumulate all the supply and then up we go again. But i think we are too close to the top for a reload to the upside to take place given the selling pressure we've seen over the past week.

just my two pennies.
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  • #317,444
  • Nov 1, 2010 4:58pm Nov 1, 2010 4:58pm
Below the red line is bearish zone for me...
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  • #317,445
  • Nov 1, 2010 5:01pm Nov 1, 2010 5:01pm
Quoting pipper
New Chart
piper you are in profit allready correct? are you staying or geting out here?
The Chonchy
  • #317,446
  • Nov 1, 2010 5:02pm Nov 1, 2010 5:02pm
Hi guys, I have the same triangle as u do, but also have the blue descending channel. Within it I see the grey ascending chanell, a brake of it to the downside will give a test of the blue LTL imho.
What I really want to share with u guys, is this sensation I have in a longer time frame. Check out the weehly chart. I'm currently bear on short term, but this chart made me wonder if I'm right.
Check out the descending purple UTL, it's like forming a giant wedge with the lower purple UTL. A simple count would indicate we have to test the UTL once again around 4400 area +/-. We had 3 weekly doji candlestick formations in a role, and the beginging of this week is bearish. But check out the previous elipse I highlight, it's a similar situation, and it turned out that PA continued south.
Any thoughts???
Good trades buddies!!
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  • #317,447
  • Nov 1, 2010 5:03pm Nov 1, 2010 5:03pm
Always looking at XAUUSD
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  • #317,448
  • Nov 1, 2010 5:04pm Nov 1, 2010 5:04pm
I'm thinking it may hit 1.3924 DP at least If it cracks that, then i'll let it carry on.


P.S. If BOJ starts sniffing around, i'm running


Quoting chonchy
piper you are in profit allready correct? are you staying or geting out here?
Disclaimer: Check your 1m charts
  • #317,449
  • Nov 1, 2010 5:10pm Nov 1, 2010 5:10pm
Quoting pipper
I'm thinking it may hit 1.3924 DP at least If it cracks that, then i'll let it carry on.


P.S. If BOJ starts sniffing around, i'm running
roger that, I'm going to take a shower and sleep a little, being here since 5:00 yesterday, but i'm leaving with 138 sardines on a slow day, good luck to all........thanks pipper for all the help......... I 'm leaving no trades open........
The Chonchy
  • #317,450
  • Nov 1, 2010 5:12pm Nov 1, 2010 5:12pm
Excellent Sardine catch today Chonchy Could be a wise move leaving no trades open

Quoting chonchy
roger that, I'm going to take a shower and sleep a little, being here since 5:00 yesterday, but i'm leaving with 138 sardines on a slow day, good luck to all........thanks pipper for all the help......... I 'm leaving no trades open........
Disclaimer: Check your 1m charts
  • #317,451
  • Nov 1, 2010 5:21pm Nov 1, 2010 5:21pm
Quote
Fed Likely to Announce $500 Billion of Purchases, Survey Shows


bloomberg.
  • #317,452
  • Nov 1, 2010 5:23pm Nov 1, 2010 5:23pm
scalp

not sure
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  • #317,453
  • Nov 1, 2010 5:27pm Nov 1, 2010 5:27pm
If the 500 billion is true, how many pips do you think will the market move in 5 mins, in 1 day and in one month ???
  • #317,454
  • Nov 1, 2010 5:34pm Nov 1, 2010 5:34pm
Planning to go long at 1.3835 - 1.3845 (if price comes down to there...)
  • #317,455
  • Nov 1, 2010 5:38pm Nov 1, 2010 5:38pm
Quoting Hk1
+50 pips and holding...
what indicators, charts etc have you been applying in referred backtesting and your current trade proposition
  • #317,456
  • Nov 1, 2010 5:39pm Nov 1, 2010 5:39pm
Quoting Barata
bloomberg.
WTF do Bloomberg know! First a trillion, now half a trillion. They make it up as they go along!

Remember this - http://gawker.com/5042795/bloomberg-...jobss-obituary - LOL

BTW... Here is the link to the $trillion
http://www.bloomberg.com/news/2010-1...ion-video.html

Don't get sucked in... suckers!
  • #317,457
  • Nov 1, 2010 5:51pm Nov 1, 2010 5:51pm
Hi

Thanks for this very very interesting post.

So in this case, are you saying the hidden sellers are a minority of traders, but powerful enough and big enough to be able to keep the Buyers (who are the majority) in check ?

Is that correct ?
If so what does that mean or how should we interpret this ?

Thanks


Quoting jaboo
I posted this with my first attachment on Saturday night.



If we know anything about the professional traders we should know that if they want to go long they want to suck up all the supply first as to not encounter any selling pressure as price rises.

My guess, since after such a nice steep rise, SM wants to dump everything on the buyers and at a later date find a spot where the price is right for them to accumulate all the supply and then up we go again. But i think we are too close to the top for a reload to the upside to take place...
  • #317,458
  • Nov 1, 2010 5:52pm Nov 1, 2010 5:52pm
Ultimately, the truth could be that the QE has already been done... who knows...
  • #317,459
  • Nov 1, 2010 5:58pm Nov 1, 2010 5:58pm
for the bears who still in the eur/usd from 1.4 there s more to come but you could scale out at 1.3845 . there wave b will take it up to 50%fib just above wave 4 then down it will go
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  • #317,460
  • Nov 1, 2010 5:59pm Nov 1, 2010 5:59pm
Quoting bbakker
WTF do Bloomberg know! First a trillion, now half a trillion. They make it up as they go along!

Remember this - http://gawker.com/5042795/bloomberg-...jobss-obituary - LOL

BTW... Here is the link to the $trillion
http://www.bloomberg.com/news/2010-1...ion-video.html

Don't get sucked in... suckers!
I only trade the charts but I like to keep up with the news.
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