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  • #386,621
  • Feb 14, 2011 11:14am Feb 14, 2011 11:14am
Quoting PhAnTi'
RSI is a lagging indicator...

ok out now

ph.
TY for the info...lagging or whatever it's a proven winna! I will be collecting soon.
  • #386,622
  • Feb 14, 2011 11:15am Feb 14, 2011 11:15am
Quoting Black Hole
not necessarily...

more like an indecision time.
If you expect a major reversal to take place at this level,then it is a shitty price to start at if you ask me ,And as Infinitus told in one of his posts,major reversals don't start when over 80% of people are jumping short,otherwise you gonna runt out of steam fast.
  • #386,623
  • Feb 14, 2011 11:17am Feb 14, 2011 11:17am
I see a possible bull flag formation on a Daily chart, what do U think guys?
Attached Image (click to enlarge)
Click to Enlarge Name: Bull flag.jpg Size: 62 KB
  • #386,624
  • Feb 14, 2011 11:19am Feb 14, 2011 11:19am
Quoting pinkiaiii
............major reversals don't start when over 80% of people are jumping short, ........
Who knows what percent are short or long at any particular time.

Some brokers offer data along these lines but that only covers their own clients.
  • #386,625
  • Feb 14, 2011 11:24am Feb 14, 2011 11:24am
Quoting SunTrader
Who knows what percent are short or long at any particular time.

Some brokers offer data along these lines but that only covers their own clients.
if all the statistics were 100% it wouldn't be statistics, it would be a fact then anyway everyone have their own reasons and strategies to buy or sell.
  • #386,626
  • Feb 14, 2011 11:34am Feb 14, 2011 11:34am
Quoting pinkiaiii
If you expect a major reversal to take place at this level,then it is a shitty price to start at if you ask me ,And as Infinitus told in one of his posts,major reversals don't start when over 80% of people are jumping short,otherwise you gonna runt out of steam fast.
Umm those 80% of people you are referring to who are retailtraders dont really matter shit when somebody calls the treasury and mentions they want to buy 300 million dollars making sure the price jumps up a couple hundred pips.

Also reversal Doji on Daily, 4hr =Bull, 1Hr = bull
  • #386,627
  • Feb 14, 2011 11:35am Feb 14, 2011 11:35am
Looks like EUR/USD could range in the 1.3430 - 1.3500 area during the Asian session . We are sat on strong support after good push down today.
  • #386,628
  • Feb 14, 2011 11:36am Feb 14, 2011 11:36am
80% is dumb money indicator...
  • #386,629
  • Feb 14, 2011 11:39am Feb 14, 2011 11:39am
Quoting gatorinla
closed long.. s 3497.
closed short.. looks like it wants its pip.. but also 3537 may be in play
those who can, do. those who cant, talk about those who can
  • #386,630
  • Feb 14, 2011 11:44am Feb 14, 2011 11:44am
Quoting SunTrader
We spell it DUMB in this country by the way and dam (the colorful use) is damn.

But I don't use indicators and if you look back to Friday you would see I said almost every indicator is basically measuring rate of change so I know all abour RSI/Stoch/Momentum etc. All just fancy ways of crunching price into all kinds of different shapes and sizes.

Sorry about that. It was a mis-type on the Old key board.
rat
  • #386,631
  • Feb 14, 2011 11:50am Feb 14, 2011 11:50am
i m still holding my shorts
tp open
but looking to close at: 3465

Quoting gatorinla
closed short.. looks like it wants its pip.. but also 3537 may be in play
Trade what you see, Not what you think.
  • #386,632
  • Feb 14, 2011 11:52am Feb 14, 2011 11:52am
Quoting cloggie
I will be calling it the day soon too, got a few riding this one out and don't really care if they get stopped out. Today has been a pretty textbook play especially for a Monday. 130 pips run (within 1 pip of the 5 day ADR) and a textbook, albeit slow 50 retrace right back at the level that was in play last Friday. Who says that history doesn't work heh? I'd like to see this 30 close above 3492 and my earlier longs will stay on the books for a while longer.

Textbook stuff for sure Cloogie. Last night I jumped in quickly Long at 13510 on the open of my broker. Rode her up to 13550 then got out of that Winner, Lovely Gap Trade.
Then I went short and rode her down to todays low 13429 for a few more points. Then I got a signal from my Tarot cards to get in Long as that was the LOD of today.
Going long again at 13429 I rode her back up to 13500 cashed in Lovely and I went short again at 13500.

Its textbook stuff this I couldn't agree more.
rat
  • #386,633
  • Feb 14, 2011 11:52am Feb 14, 2011 11:52am
what do you mean about this?

Quoting Sdvsa
80% is dumb money indicator...
Trade what you see, Not what you think.
  • #386,634
  • Feb 14, 2011 11:53am Feb 14, 2011 11:53am
50% are long and 50% are short. no matter how smart your broker or anyone tries to make you believe they are. some major banks just like retailers are short while others are long. its the market.. each seller has a buyer and so forth.. most of your demand is demand for a product. in a particular country. example: to buy imported car from Europe. a u.s. buyer's currency has to be converted to euros. this buyer is buying the euro at the ask price. causing the euro to rise in value.. and vice verse. just supply verses demand
those who can, do. those who cant, talk about those who can
  • #386,635
  • Feb 14, 2011 12:01pm Feb 14, 2011 12:01pm
If you want to assume large position in the market, you need counter-party to fill your orders as as gatorinla said.
In order not to move price against you, you do it gradually: selling to dumb money as they want to buy, or buying from dumb money as they want to sell.
Price is relatively stable during this, you get some whipsaws etc, but a range is maintained.
But when the process is completed, meaning you accumulated from dumb money all they could offer, price is ready to explode -- in the opposite direction to them.
That is what creates momentum.
  • #386,636
  • Feb 14, 2011 12:05pm Feb 14, 2011 12:05pm
Short at 1,3460 ...... short GBP/USD at 1,6037..... i feel like FU***D !!!! Don't know if close or still maintain open the positions.....crazy market !
  • #386,637
  • Feb 14, 2011 12:10pm Feb 14, 2011 12:10pm
1.3250 looks like a reasonable target if we break south.

Weekly chart analysis showing doji/pinbar therefore suggesting further downside potential if support gives way.
  • #386,638
  • Feb 14, 2011 12:20pm Feb 14, 2011 12:20pm
How about the 3352 area.. Seems like a great deal of support at least on H4?


Quoting fxprocessor
1.3250 looks like a reasonable target if we break south.

Weekly chart analysis showing doji/pinbar therefore suggesting further downside potential if support gives way.
  • #386,639
  • Feb 14, 2011 12:22pm Feb 14, 2011 12:22pm
The FINANCIAL CRISES

Inquiry Report - Offical Government edition - Jan 2011

Final report of the national commission on the causes of the financial and economic crises in US

662 pages - if s.o. interested.

http://c0182732.cdn1.cloudfiles.rack...eport_full.pdf
  • #386,640
  • Feb 14, 2011 12:22pm Feb 14, 2011 12:22pm
Quoting Physcho Ward
How about the 3352 area.. Seems like a great deal of support at least on H4?
I was thinking 14281 as a great area to look at on de 4hr?
rat
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