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  • #352,901
  • Dec 28, 2010 5:56am Dec 28, 2010 5:56am
+60 pips between the GU and EU today. I should call it a day. But will I? LOL
  • #352,902
  • Dec 28, 2010 6:00am Dec 28, 2010 6:00am
Quoting PipChick
+60 pips between the GU and EU today. I should call it a day. But will I? LOL
Asian Centrals banks driving up Euro & driving down U.S. Dollar.

There are no defenses right now against the banks, so the thin market is letting them drive the prices in the direction that they want.

I think they are driving the Euro up on a low cost {time of year/thin market} so they can have a better stance for the bear run.

Today can see/touch around 1.33, but who knows .. the decline can start anytime between today & 1st week of January.

Even though there are exaggerated moves, we are still in the 1.29xx-1.35xx range and getting tighter and December pressed on.
  • #352,903
  • Dec 28, 2010 6:03am Dec 28, 2010 6:03am
Quoting Pair-me-up
You seem to be one of the people on this thread that has good technical analysis and some good experience in forex. What do you forcast the EUR/USD to do once the US market opens up? Do you think they will sell their own currency? Or do you think they will Sell Euro dollars? Why?

Thanks..


P.S.

Anyone that wants to answer those questions feel free.. I keep reading and trying to increase my skill but I just can't see what all you good traders seem to see yet.
In a technical perspective, learn all you can about head and shoulders patterns and AB=CD patterns and especially candlestick patterns.Do not get too involved in the fundamentals. Always be aware of pending data releases which are posted on FF but leave the rest alone.And most importantly, NEVER have a BIAS. Thats just my take on the whole forex arena.
  • #352,904
  • Dec 28, 2010 6:05am Dec 28, 2010 6:05am
Quoting Pair-me-up
You made some valid points....
lol

A+B=C, Im referencing to, can be any system - means when your system tells you, or indicators or even coin flip as a system, but not blindly or hope or Bias or even WORST - waiting for a bone from someone on forums..

Books, plenty, there you can find systems, books, ebooks [99.9% English].. even here on FF, or just google, im sure you can find a lot of...

Which system.. that's a difficult question, as every single person is wired and works on different way.. you have to find the best which you are comfortable with.
For example, gave one simple MA cross system,[ EMA5 with EMA13], and you 'll see that out of 100 traders [again].. 20 will perform, 5 excellent, and rest underperf.. so.. my point is .. MINDSET before the system..

And I cant help you, Im not a mentor.. not a teacher..ask me any question, and I'll tell you what i think.. I learned hardway... wasting many hours and money..

however you can ask someone, maybe they can help you.. with good advice or book,,

P
  • #352,905
  • Dec 28, 2010 6:09am Dec 28, 2010 6:09am
Besides great charts u also have great advice.


expecting one last leg up to 85 90 and then, setup shows will load another short. i am already short: in for a TD count reversal signal. first tp is 50 for a scalp. need to bank some. will take it from there.

green pips



Quoting Piters
the best way is NOTHING to EXPECT, but hyde and wait as Hunter. And then when A+B=C .. you pull the trigger.....
dreams do come true.
  • #352,906
  • Dec 28, 2010 6:09am Dec 28, 2010 6:09am
Time to sell.. T=$1.32
  • #352,907
  • Dec 28, 2010 6:12am Dec 28, 2010 6:12am
TP at 41

Quoting wannaberich
Besides great charts u also have great advice.


expecting one last leg up to 85 90 and then, setup shows will load another short. i am already short: in for a TD count reversal signal. first tp is 50 for a scalp. need to bank some. will take it from there.

green pips
dreams do come true.
  • #352,908
  • Dec 28, 2010 6:14am Dec 28, 2010 6:14am
Quoting akhtergroup
Time to sell.. T=$1.32

thanks for the informative post....
Look Sharp/Trade Tight
  • #352,909
  • Dec 28, 2010 6:19am Dec 28, 2010 6:19am
Quoting PayTheLimit
thanks for the informative post....
no ... thank you for the informative post!
  • #352,910
  • Dec 28, 2010 6:20am Dec 28, 2010 6:20am
Next Resistance Level on H4
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  • #352,911
  • Dec 28, 2010 6:22am Dec 28, 2010 6:22am
Quoting Mr Hatch
hi guys, short 3240, will build up up to 3280.
Hi Mr. Hatch,

be careful with shorts. Can easily run above 3486 Elliott Wave wise now. Has only to stay below 3573 to keep the overall bearish count.

On the other hand: when my last counts stay valid (we had ended a orange wave 4, then down for a wave 5. In this wave 5 we did a series of 1-2's) we have to stay beneath 3359. If we are i this count, the recent run up has retraced around 65%, so maybe we can see the way down from here.

BUT: this wave 5 1-2's count looks really ugly right now. I am not sure, but I am inclined to favor the count, where we are right now in a broad wave 4 action which could bring us up to between 3488 and 3550

What is the take (bigger picture) of you supply and demand guys?
  • #352,912
  • Dec 28, 2010 6:27am Dec 28, 2010 6:27am
lets see if WH6 holds or the ema200 will be next
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  • #352,913
  • Dec 28, 2010 6:31am Dec 28, 2010 6:31am
Quoting infinitus
Hi Mr. Hatch,

be careful with shorts. Can easily run above 3486 Elliott Wave wise now. Has only to stay below 3573 to keep the overall bearish count.

On the other hand: when my last counts stay valid (we had ended a orange wave 4, then down for a wave 5. In this wave 5 we did a series of 1-2's) we have to stay beneath 3359. If we are i this count, the recent run up has retraced around 65%, so maybe we can see the way down from here.

BUT: this wave 5 1-2's count looks really ugly right now. I am not sure, but I am inclined to favor the count,...
thanks, infinitus. playing this with tight sl and small positions until the mid of january. lots of time to add then, the one way or the other.
i was flat this morning, as my sl on my short position of 3480 got hit at 3250 and my long (don't tell anyone i traded a long... lol) reached it's tp accordingly at 3250...

the channel is in play and while i expect the fibs to play a part, i took the upper into account as well. the decision, if my shorts until 3280 will produce green pips will be seen this afternoon. if not, i'm out til early january.

best to you.

ps: we didn't hit the 50%, yet. *rubbing hands*
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  • #352,914
  • Dec 28, 2010 6:33am Dec 28, 2010 6:33am
Quoting PayTheLimit
thanks for the informative post....

Anytime! See you there.
  • #352,915
  • Dec 28, 2010 6:35am Dec 28, 2010 6:35am
Quoting infinitus
Hi Mr. Hatch,

be careful with shorts. Can easily run above 3486 Elliott Wave wise now. Has only to stay below 3573 to keep the overall bearish count.

On the other hand: when my last counts stay valid (we had ended a orange wave 4, then down for a wave 5. In this wave 5 we did a series of 1-2's) we have to stay beneath 3359. If we are i this count, the recent run up has retraced around 65%, so maybe we can see the way down from here.

BUT: this wave 5 1-2's count looks really ugly right now. I am not sure, but I am inclined to favor the count,...
- PA moves have been exaggerated by 100-300% due to thin markets.

- Asian Central Banks & Exporters, hands down, are controlling the Trends for the most part ... IMO

- China's rate hike was tiny compared to what it should be {they will easily be above 6% by summer time}.

- PPP {purchasing power parity} is out of sync for the Euro, so that needs to change.

-StopLoss's being knocked out left & right.

- Fundamentals {on this rare occasion} will out way Tech. for more then an hour and can set the new trend.

- 1.33 area is STRONG past resistance in the daily, weekly, and monthly TF's.

I think we won't get past 1.33, and if we do, then we won't go any further then 1.35xx before we start the downfall.

Big players are just putting this into a temp bull market since it is cheaper to do so with the thin market before they set up for a big bear market.
  • #352,916
  • Dec 28, 2010 6:36am Dec 28, 2010 6:36am
added to shorts 3250 3260
  • #352,917
  • Dec 28, 2010 6:38am Dec 28, 2010 6:38am
Dear Pipchick,

Thanks for the homework. I will check it out.


Dear Piters,

I am not looking for a system... I am only looking for tools that I can learn how to use in order to trade in a way that fits my mind set. I noticed that you mentioned that you lost a lot of money learning how to trade. I too have lost money trying to learn forex. But when I see that people such as yourself didn't throw in the towel, it gives me motivation to keep trying. But, I get the whole...."I suffered a lot learning, so why should I make it easy for you.." kind of thinking... I know that sounds mean, ha ha ha sorry bro. But I am here to learn. Can you imagine teaching someone how to read and then you give them an encyclopedia? And when they look at you with a puzzled look... you say.. don't expect a bone.. When they simple want to learn the rules of phonics and spelling so they can read something of their choice other than the book you handed to them. Anyways... that is just my two pips.

Peace
Luck has no place in trading. Leave that for the poker table.
  • #352,918
  • Dec 28, 2010 6:40am Dec 28, 2010 6:40am
Quoting primzvicious
my view
potential target

upside ----> triangle
downside ---> 200, 185, 160
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Verily, in every difficulties there is relief
  • #352,919
  • Dec 28, 2010 6:42am Dec 28, 2010 6:42am
Quoting Pair-me-up
Dear Pipchick,

Thanks for the homework. I will check it out.


Dear Piters,

I am not looking for a system... I am only looking for tools that I can learn how to use in order to trade in a way that fits my mind set....
- what is your mindset about trading?
- define the "bone".

start with working through all of babypips dot com. it helps to give you an overview of technical means applicable. you will find what suits you, then specify.
  • #352,920
  • Dec 28, 2010 6:42am Dec 28, 2010 6:42am
Quoting Pair-me-up
Dear Pipchick,

Thanks for the homework. I will check it out.


Dear Piters,

I am not looking for a system... I am only looking for tools that I can learn how to use in order to trade in a way that fits my mind set....
np.. mate..
hang around and pick up whatever you can, and think is useful for your style..

Good Luck ..
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