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  • #379,141
  • Feb 3, 2011 10:36am Feb 3, 2011 10:36am
could you please post your chart?
thanks


Quoting infinitus
Hi Mr. Hatch,

sorry for confusion :-)

I think, we have seen a 1-2 (1-2-3-4-5) and now in a wave 4.

Wave 2 retraced nearly 62% of wave 1, so expect a more or less flat correction for wave 4. 3671 would be a nice target (area of subwave 4 of wave 3).

I expect price to bounce up and down in this area for next hours. Wave 2 took almost 12 hours.

Meaning of my last post was:

the top is in and now we are heading in direction to 1.18 :-)

Or as Gator would say: Zero
  • #379,142
  • Feb 3, 2011 10:37am Feb 3, 2011 10:37am
Quoting infinitus
Hi Mr. Hatch,

sorry for confusion :-)

I think, we have seen a 1-2 (1-2-3-4-5) and now in a wave 4.

Wave 2 retraced nearly 62% of wave 1, so expect a more or less flat correction for wave 4. 3671 would be a nice target (area of subwave 4 of wave 3).

I expect price to bounce up and down in this area for next hours. Wave 2 took almost 12 hours.

Meaning of my last post was:

the top is in and now we are heading in direction to 1.18 :-)

Or as Gator would say: Zero
thanks a lot, markus. that helps.

the range more or less is in the course of formation atm... tomorrow is nfp, so price may get pumped, if the bear let's them do it.
  • #379,143
  • Feb 3, 2011 10:39am Feb 3, 2011 10:39am
Quoting Delite
Hey Gleneagles and AllyB

Could you explain your strategy - if you have time?

Thanks!
It's quite simple actually. Gleneagles uses a indie that is proprietary so I do this manually. Basically this is what gleneagles bases this on:

For Euro it seems to be, it moves in beats of 20 and setting a TP of 12 allow for some "slippage" at both ends of the short term price swings. ATR (14) on 5M TF is also around 12 when there is a fairly decent level of participation.

What I do is just find a range of at least 20 pips, make a good entry and set profit for +12. You won't believe how many times I have had it go just 12 and stop. I am not the best on entries so doing it this way I make more pips than trying to reach +20.

Hope this helps!
  • #379,144
  • Feb 3, 2011 10:42am Feb 3, 2011 10:42am
Quoting AllyB
It's quite simple actually....
if you can bank 2-3 trades every day, you're well off, ally.
  • #379,145
  • Feb 3, 2011 10:42am Feb 3, 2011 10:42am
Wonder if the Bernanke luncheon this afternoon will bring light of any new info - moves ...

It isn't being looked at to heavily ... but who knows ..
  • #379,146
  • Feb 3, 2011 10:43am Feb 3, 2011 10:43am
Quoting Gleneagles
Excellent! All you need now is to work on consistency?
Yep ... I seem to still go in streaks on the consistency. Best thing about the 12 pips TP is the r/r keeps losses small and when you got your game on I make my daily target.

Thanks for your support and Good Day!
  • #379,147
  • Feb 3, 2011 10:45am Feb 3, 2011 10:45am
Quoting Mr Hatch
if you can bank 2-3 trades every day, you're well off, ally.
Hasn't been a good week Mr. Hatch but keeps me humble

How you been doing this week?
  • #379,148
  • Feb 3, 2011 10:48am Feb 3, 2011 10:48am
Quoting AllyB
Hasn't been a good week Mr. Hatch but keeps me humble

How you been doing this week?
i could be short from 3853, but i closed that... as usual. coward.
  • #379,149
  • Feb 3, 2011 10:49am Feb 3, 2011 10:49am
I have 1.3659, 1.3677 & 1.3694 as the next resistance levels. Will be looking for a short signal.
We're all stories in the end. Just try to make it a good one.
  • #379,150
  • Feb 3, 2011 10:50am Feb 3, 2011 10:50am
Thanks, Ally and as Hatch says, 2 or 3 of those a day will keep the wolf from the door!

Its been a tough week. I trade the 123 reversal on the M5 and the moves this week have tangled with my sanity!
  • #379,151
  • Feb 3, 2011 10:50am Feb 3, 2011 10:50am
The same opinion as was, the price should be in bold triangle.
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  • #379,152
  • Feb 3, 2011 10:51am Feb 3, 2011 10:51am
Quoting AlexC
Nice call Sandani.
Thanks
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #379,153
  • Feb 3, 2011 10:54am Feb 3, 2011 10:54am
Quoting Mr Hatch
i could be short from 3853, but i closed that... as usual. coward.

my first sell was at 3743 ... let it run for +20 and "CHICKEN" closed, took my money but did get back in
  • #379,154
  • Feb 3, 2011 10:54am Feb 3, 2011 10:54am
Quoting mikej2010
so is that no prediction outside a 5m window?

I will 100% admit you are correct and 'the man' if you call it for tomorrow like I said, 1600gmt within 30 pip window ... you will be a 'god' to me ...

& no editing your post!
this is a bit of a joke i am sure , whilst cloggie can be a little vauge he consistently informs us that he follows the LO for direction. i think this in itself is worth a vouch , but based on his trading methods how the hell do you expect him / anyone to predict tommorows price.
  • #379,155
  • Feb 3, 2011 10:59am Feb 3, 2011 10:59am
Quoting Delite
Its been a tough week. I trade the 123 reversal on the M5 and the moves this week have tangled with my sanity!
I trade support/resistance and was about to do the "if I think sell - buy" this week. Was driving me crazy!

Is that your dog in your picture? Cute!
  • #379,156
  • Feb 3, 2011 11:01am Feb 3, 2011 11:01am
Quoting AllyB
my first sell was at 3743 ... let it run for +20 and "CHICKEN" closed, took my money but did get back in
that's really the worst thing to happen. i had the idea to short at 3853 for a couple of days, but never presented it here to get another opinion... that should be taken care of in future. at least, that would be a comfortable cushion to sit on right now... I don't see too much pumping atm, but when london is done, the algos kick in, as the ny-boys are usually pretty lazy bones. so i can just close down here and wait for tomorrow's action.
  • #379,157
  • Feb 3, 2011 11:02am Feb 3, 2011 11:02am
Quoting infinitus
Hi Mr. Hatch,

sorry for confusion :-)

I think, we have seen a 1-2 (1-2-3-4-5) and now in a wave 4.

Wave 2 retraced nearly 62% of wave 1, so expect a more or less flat correction for wave 4. 3671 would be a nice target (area of subwave 4 of wave 3).

I expect price to bounce up and down in this area for next hours. Wave 2 took almost 12 hours.

Meaning of my last post was:

the top is in and now we are heading in direction to 1.18 :-)

Or as Gator would say: Zero
same , targetting 50% fib 3737 & hope it break 3566 level with the 5th down possible . Over 3765 will invalidate this count of 1-5 waves , then abc correction & correction up as wave 2 down or even up over the top as wave 3 of the 5th big up, not think such abnormality though .
lets see .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #379,158
  • Feb 3, 2011 11:05am Feb 3, 2011 11:05am
Quoting AllyB
I trade support/resistance and was about to do the "if I think sell - buy" this week. Was driving me crazy!

Is that your dog in your picture? Cute!

Thanks!
  • #379,159
  • Feb 3, 2011 11:06am Feb 3, 2011 11:06am
10 dead now. protesting in a 1/2 doz countries. it may be a bad time to be a Saudis king in a few days. Europe closed.
those who can, do. those who cant, talk about those who can
  • #379,160
  • Feb 3, 2011 11:06am Feb 3, 2011 11:06am
I'm in. Sold now near S3.
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