- #322,543
- Nov 9, 2010 4:53pm Nov 9, 2010 4:53pm
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
- #322,544
- Nov 9, 2010 4:57pm Nov 9, 2010 4:57pm
- Joined Feb 2008 | Status: Trader | 2,258 Posts
saw your post earlier Tonyo selling at 3950.... thought you were crazy at that point - but spot on flawless trade.. well done.. congratz
All that is left in FF is just plain garbage. "Cloggie"
- #322,546
- Nov 9, 2010 5:13pm Nov 9, 2010 5:13pm
- Joined Feb 2008 | Status: Trader | 2,258 Posts
All that is left in FF is just plain garbage. "Cloggie"
- #322,547
- Nov 9, 2010 5:14pm Nov 9, 2010 5:14pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
2nd posted trade set up for the week:
1st trade from 24 hrs ago went on a roller coaster ride but netted a whopping 145 pips!
After carefully analyzing the daily and 4H charts and after making calls to my friends in Shanghai and Hong Kong, here is the next trade set up for the next 24 hours:
Short E/U @ 3760, SL 3837, TP 3606
I am already short on the dragon at 130.91 but trade wasnt posted.
Resistance :
1) 1.3982
2) 1.4072
3) 1.4161
4) 1.4271
5) 1.4490
Support :
1) 1.3872
2) 1.3694
3) 1.3489
4) 1.3227
I guess we will see 1.3694 next....
But hey, what do I know ? By the way : 65 % of retail traders are long EUR/USD. That bodes well for the next leg downward. See ya !
________________________________
Errare humanum est
- #322,551
- Nov 9, 2010 5:31pm Nov 9, 2010 5:31pm
- Joined Feb 2008 | Status: Trader | 2,258 Posts
All that is left in FF is just plain garbage. "Cloggie"
- #322,557
- Nov 9, 2010 6:00pm Nov 9, 2010 6:00pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #322,558
- Nov 9, 2010 6:02pm Nov 9, 2010 6:02pm
- | Joined Nov 2009 | Status: The Trend is Your Friend | 1,123 Posts
Here is my reasoning, and it is not a newbie question, it is a really good question. On our way down we did this same consolidation on the weekly. (See chart) We then continued down. I see the same thing now just the opposite way. I believe that 61.8 will be hit to take out all of the sellers in this weeks drop, and get the herd heading long. oh and i have adjusted my tp to 4400 to fall short of the 61.8 fib. Either I'll be correct or be stopped out, the sl is a 100 pip trailer. Not expecting tp till next week, or possibly week after.
Alltough I am lt bearish, I like your idea and it could make sense.
If this is what it looks like, (ending diagonal triangle), small but its there and also fits with my counts, we could turn up after one more low.
- #322,559
- Nov 9, 2010 6:04pm Nov 9, 2010 6:04pm
- Joined Apr 2010 | Status: Trader | 13,228 Posts
lol vsa is rubbish . I do not know how to trade and everyweek I lose at least 1 k in the market if not more.
I am switching to using moving averages .. heard and 8 and 4 cross is good ..lol
- #322,560
- Nov 9, 2010 6:05pm Nov 9, 2010 6:05pm
- | Commercial User | Joined Jul 2009 | 5,375 Posts
so is USD really that bad ?
"The Chicago Mercantile Exchange (CME) decision's to raise maintenance silver margins from $5,000 to $6,500, is the reasoning behind the selloff in the precious metals Tuesday afternoon, said George Gero, Vice-President, Global Futures, RBC Capital Markets. CME Group, the operator of the New York Mercantile Exchange and Commodity Exchange (COMEX), on which silver futures contracts are traded, released a statement to clearing member firms and others Tuesday raising the amount of margin needed to trade silver futures contracts, “as per the normal review of market volatility to ensure adequate collateral coverage.”
Speculation has arisen that this news is responsible for this afternoon’s significant negative reversal in the price of silver.
“The raise in the silver margins from $5,000 to $6,500 combined with the beginning of a big roll-over from the December to the March contract makes some people think about taking profits and waiting until the coast cleared,” said Gero.
It is the same story for gold, platinum and palladium he said.
“The margins were only raised for silver – but under the (Standard Portfolio Analysis of Risk) or SPAN margining system that the CME uses, the possibility of other margin increases propped up.”
So how will the Asian market respond? Gero is waiting to see. Overall, Gero said there is no need to panic and the volatility is normal.
“While all this was going the US dollar got better – so I expect this temporary volatility all through the month of November,” he said.
He noted that in November “we also have option expiration for the metals. So the November expiration is more significant than most expirations for December futures.”"
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Asians Picking up value quickly
AU/AG moving back up.
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)