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  • #358,901
  • Jan 5, 2011 8:57am Jan 5, 2011 8:57am
1.3080 is now being eye
  • #358,902
  • Jan 5, 2011 8:57am Jan 5, 2011 8:57am
Quoting skozyuk
Last chance to reload shorts, train is departing to south pole now....

Only if you are scalping, consolidation has not finished yet. Did you miss the big run and are you now trying to get a few more behind this one?
  • #358,903
  • Jan 5, 2011 8:59am Jan 5, 2011 8:59am
Quoting cloggie
IT is not going to get there on this run.
It was just wishful thinking. I got out of my short already and was thinking if it did get up there I would try another one, since it is the hourly PP.
  • #358,904
  • Jan 5, 2011 8:59am Jan 5, 2011 8:59am
gold : selloff
Attached Image (click to enlarge)
Click to Enlarge Name: buonvangvn_____yahoo____com.gif Size: 30 KB
  • #358,905
  • Jan 5, 2011 8:59am Jan 5, 2011 8:59am
Quoting gatorinla
50% are rarely missed.
yes, but if they are, the move is sharp.
  • #358,906
  • Jan 5, 2011 9:00am Jan 5, 2011 9:00am
  •  Vilgax
  • | Joined Aug 2010 | Status: Lack of money is root of most evil | 466 Posts
[quote=cloggie;4289189]Ahh please, the USA is in the dumps, it is just a race between 2 ugly sisters and the US found the makeup bottle today....
The forex market has its own life and takes its own time.
  • #358,907
  • Jan 5, 2011 9:00am Jan 5, 2011 9:00am
Quoting cloggie
Ahh please, the USA is in the dumps, it is just a race between 2 ugly sisters and the US found the makeup bottle today. The US is not in good shape, it is just not as bad as the EU, which is pretty easy to do right now. Everything is relative.

The 200k added today in the ADP does not even cover the natural monthly growth and does not make up for all the millions of jobs lost in the last 2 years.
indeed, it's just that the USD "appears" to be the less ugly of the two at the moment... but by no meas is the US in good shape
  • #358,908
  • Jan 5, 2011 9:01am Jan 5, 2011 9:01am
Quoting piptornado
It was just wishful thinking. I got out of my short already and was thinking if it did get up there I would try another one.

Wait for ISM here and see what that brings us. The big boys are doing exactly the same thing, that's why we are stepping in place here. Newstrading means knowing when to get in and when to wait for the next setup.
  • #358,909
  • Jan 5, 2011 9:01am Jan 5, 2011 9:01am
Quoting T@rantula
No. You are completely wrong. The basics of PA trading is buying support and selling resistance. You need to be able to identify a trend, then search for a confluence.

When trading higher timeframes traders use candlestick patterns as additional tool for trading.

REMEMBER this: PA is the FOOTPRINT of the money.
Yes I understand but don't you see that to identify a trend you need to use historical data? The 2 or 3 points on your trend line are in the past. PA only happens in the present.

I like your quote and agree charts, a few ma's and an experienced eye are far far better than 'indi heaven'.
  • #358,910
  • Edited 9:04am Jan 5, 2011 9:03am | Edited 9:04am
Quoting piptornado
wow, reading some posts here, traders make in the hundreds of pips a day!

I made 27 yesterday on one trade, 48 today on one trade. I feel like the ugly little brother LOL

Guess I have a loooong way to go.....
Piptornado: 2000pips PLUS but it took alot of patience
  • #358,911
  • Jan 5, 2011 9:03am Jan 5, 2011 9:03am
ISM is 57.1, but i fear a retrace tbh.
  • #358,912
  • Jan 5, 2011 9:05am Jan 5, 2011 9:05am
Quoting stevexyg
Yes I understand but don't you see that to identify a trend you need to use historical data? The 2 or 3 points on your trend line are in the past. PA only happens in the present.

I like your quote and agree charts, a few ma's and an experienced eye are far far better than 'indi heaven'.
I dont predict. I react. In order to react I need to see the PRESENT PA and if its near the confluence points only then I make entries. Thats why I dont have so much entries during the day session.

I have created a system...and its good but believe me, win loss ratio on pure non indie PA trading is even better.
  • #358,913
  • Jan 5, 2011 9:05am Jan 5, 2011 9:05am
Quoting Gleneagles
+212

Risk of consolidation/bounce around 3150 level. ADR 10 is @ 156%.
Trailing stop is @ 3188 for remainder of trade.
Trade size for week Jan 3-Jan 7 40%
Trade size from Tuesday Jan 11 75% escalating to 100% thereafter.
Hello Gleneagles ... I see you are back from your time off/vacation and it certainly seems that it did you good to take a break!

Nice trading fellow pilot/friend
  • #358,914
  • Jan 5, 2011 9:05am Jan 5, 2011 9:05am
Quoting cloggie
Wait for ISM here and see what that brings us. The big boys are doing exactly the same thing, that's why we are stepping in place here. Newstrading means knowing when to get in and when to wait for the next setup.

Further retrace in the making, relative lesser "good" news then ADP, good point to take some money of the table.

No shorts available right now.
  • #358,915
  • Jan 5, 2011 9:05am Jan 5, 2011 9:05am
Quoting gatorinla
50% are rarely missed.
see
those who can, do. those who cant, talk about those who can
  • #358,916
  • Jan 5, 2011 9:06am Jan 5, 2011 9:06am
A left foot, right foot first http://cdn.forexfactory.com/attachme...7&d=1294232518
  • #358,917
  • Jan 5, 2011 9:07am Jan 5, 2011 9:07am
i hope that doesn't become an inverted H&S. it would fit like a glove with gator's little bull target.
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  • #358,918
  • Jan 5, 2011 9:07am Jan 5, 2011 9:07am
Quoting piptornado
wow, reading some posts here, traders make in the hundreds of pips a day!

I made 27 yesterday on one trade, 48 today on one trade. I feel like the ugly little brother LOL

Guess I have a loooong way to go.....

Pips are irrelevant, it is all about the monthly returns. A good friend of mine trades only a few time a day aiming for 20-30 pips and he is worth millions.
  • #358,919
  • Jan 5, 2011 9:08am Jan 5, 2011 9:08am
Quoting piptornado
3187 if it gets up there, would be a good area

You may get it on this cycle. ISM is giving the retrace a decent boost. I am flat, wanted a better ISM to load up on shorts, did not get it. We are ranging/retracing/messing about here.
  • #358,920
  • Jan 5, 2011 9:08am Jan 5, 2011 9:08am
i'm short 1.3166
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Yaruki