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  • #361,281
  • Jan 9, 2011 12:47pm Jan 9, 2011 12:47pm
yes, in fact using these terms when referring to currencies is incorrect. a pair or a currency cannot be oversold or overbought; these are only regarding the indicators and their values above/below some conventional values.

Quoting cloggie
I was agreeing with you wholeheartedly in my usual sarcastic manner. Noobies can't understand that a currency can remain oversold for a lot longer then their account can handle.
Nihil Sine Deo.
  • #361,282
  • Jan 9, 2011 12:48pm Jan 9, 2011 12:48pm
Alright come on throw out the charts. Here is mine.
Attached Image (click to enlarge)
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  • #361,283
  • Jan 9, 2011 12:49pm Jan 9, 2011 12:49pm
omg - oanda is using only the half screen...someone has the same problem?
Pecunia non olet
  • #361,284
  • Jan 9, 2011 12:50pm Jan 9, 2011 12:50pm
Quoting FibbinArchie
was your 4280 short based on a mofu or on pa?
2008 pa... mapa said at the time it was about 30% overbought. it was 30% overbought in 2008. 30% overbought in both cases was the highest it had ever been since conception. a decade trend. that and a 1m and a 5m candle.. a sl then gravity.. murry was in agreement at the time also.. but im not a indi guy.. we also had a gartly pointing to 3333.. but mapa said 2980ish if i recall correctly. go back and check..
those who can, do. those who cant, talk about those who can
  • #361,285
  • Jan 9, 2011 12:51pm Jan 9, 2011 12:51pm
1.2868 is big reversal point,if euro passed 1.2860,trend become extremely bearish,imho.
  • #361,286
  • Jan 9, 2011 12:53pm Jan 9, 2011 12:53pm
My trading plan for the day is do nothing until an opportunity opens up.

Wall Street is going into their "All is amazing, the economy is booming, buy buy buy" mode and using their media puppets (or muppets perhaps) to push this idea on the masses. I think I'll leave my IRAs in money markets for now.

I'm staying bearish on the Euro and expect most of my scalps to be on the short side.
Don't Panic. Stay With You're Group.
  • #361,287
  • Jan 9, 2011 12:54pm Jan 9, 2011 12:54pm
Quoting kill56
bro i am talking about the chart above


but true mm is good i use ema's and cam's for conformation of course TL PA for sure , though i am not a long term trader i hit and run
camarilla is ok. As for MA I prefer SMAs as they act as a dynamic s/r levels and trend confirmation.
  • #361,288
  • Jan 9, 2011 12:59pm Jan 9, 2011 12:59pm
Quoting MindfulOne
My trading plan for the day is do nothing until an opportunity opens up.

Wall Street is going into their "All is amazing, the economy is booming, buy buy buy" mode and using their media puppets (or muppets perhaps) to push this idea on the masses. I think I'll leave my IRAs in money markets for now.

I'm staying bearish on the Euro and expect most of my scalps to be on the short side.
:ROFL: what's the interest rate on money market right now?
1/12%?
  • #361,289
  • Jan 9, 2011 1:00pm Jan 9, 2011 1:00pm
Quoting gatorinla
2008 pa... mapa said at the time it was about 30% overbought. it was 30% overbought in 2008. 30% overbought in both cases was the highest it had ever been since conception. a decade trend. that and a 1m and a 5m candle.. a sl then gravity.. murry was in agreement at the time also.. but im not a indi guy.. we also had a gartly pointing to 3333.. but mapa said 2980ish if i recall correctly. go back and check..
Now I recall you talking about yearly overbought ranges at the time. OK will do, thanks Gator...
  • #361,290
  • Jan 9, 2011 1:03pm Jan 9, 2011 1:03pm
this week 1h +ve divg seen .... small retrace on card.. before more down drop

1.2860/20 area good supp for posible swing up move.. below this 1.2588 area next supp.
  • #361,291
  • Jan 9, 2011 1:03pm Jan 9, 2011 1:03pm
Quoting bomber34
1.2868 is big reversal point,if euro passed 1.2860,trend become extremely bearish,imho.
Could be, Wouldn't be surprised of going lower to get in more shorts and then the market makers stepping in pushing against.
  • #361,292
  • Jan 9, 2011 1:10pm Jan 9, 2011 1:10pm
Quoting FibbinArchie
Now I recall you talking about yearly overbought ranges at the time. OK will do, thanks Gator...
check a week or 2 before 4280
those who can, do. those who cant, talk about those who can
  • #361,293
  • Jan 9, 2011 1:16pm Jan 9, 2011 1:16pm
Trend down but market not easy Hope everyone take care and trade carefully unless u want Margin call.
Your Capital most important thing to b careful with and remember chances never end.
C U Later guys
  • #361,294
  • Jan 9, 2011 1:21pm Jan 9, 2011 1:21pm
Forex is just a game, manipulated at best - fixed at worst.

Everything is about PPP & Gravity. You can only stretch a rubber-band so far.

If you don't know what Purchasing power parity, here you go

http://en.wikipedia.org/wiki/Purchasing_power_parity

PPP + laws of gravity + common sense is all you need.

-also for anyone with 'anti-gap' theory's. Please explain AUD/USD. {see image}
Attached Image (click to enlarge)
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  • #361,295
  • Jan 9, 2011 1:22pm Jan 9, 2011 1:22pm
weekly candle thoughts
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  • #361,296
  • Jan 9, 2011 1:24pm Jan 9, 2011 1:24pm
Quoting pkimnyc
:ROFL: what's the interest rate on money market right now?
1/12%?
About .3%. My 4 year return is still better than most of my coworkers.
(I can't quote longer term since I've been with the company for just under 5 years however with profit sharing and 401k company matching I could claim a higher return)

I'll use risk capital on Forex, futures, and individual stocks.
Don't Panic. Stay With You're Group.
  • #361,297
  • Jan 9, 2011 1:29pm Jan 9, 2011 1:29pm
http://redaktion.boerse-go.de/cms/ga...0000023729.jpg
  • #361,298
  • Jan 9, 2011 1:34pm Jan 9, 2011 1:34pm
Quoting FibbinArchie
Now I recall you talking about yearly overbought ranges at the time. OK will do, thanks Gator...
1521 atm is in a mapa range on one .. but if we move in that direction. by the time we get there 1429 could be support. or maybe the mid between 1429 and 1869 within a few.. another says 1894.. ill just watch and react. at the shorter term ones. we still got a decent support just below us.. but the candles say they may not hold.. ill sell tops till the floor breaks.
those who can, do. those who cant, talk about those who can
  • #361,299
  • Jan 9, 2011 1:35pm Jan 9, 2011 1:35pm
Quoting mokonni
http://redaktion.boerse-go.de/cms/ga...0000023729.jpg
how do i trade off this?
those who can, do. those who cant, talk about those who can
  • #361,300
  • Jan 9, 2011 1:37pm Jan 9, 2011 1:37pm
Not much action at the Welly open, still flat. TY being on holiday today will probably give us little action. I am going to give it a miss tonight. Not going to chase this little volume here.

See you guys at London.
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