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Price is everything

  • #9,201
  • Feb 16, 2011 7:11am Feb 16, 2011 7:11am
Quoting honeybhi
1.6038 is strong support.
.but i prefer 6018.6077 also act resistance.be right back..
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Gold Expedition Return This Year: -16.4%
  • #9,202
  • Feb 16, 2011 7:38am Feb 16, 2011 7:38am
anyone got an idea wtf is going on? (other than PPI being positive and thus surging dollar demand)
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  • #9,203
  • Feb 16, 2011 7:55am Feb 16, 2011 7:55am
I've been watching this pair for quite a while now and believe we can see a quick 600 point sell-off soon, based on weekly and monthly setup, although it also wouldn't surprise me if it spiked up first to make a brief new high around 1.0300... just my thoughts, what do you think? I do know that I'm going to short every setup I get for awhile
Historically I've profited more from this pair then any other.


Quoting Orbital
anyone got an idea wtf is going on? (other than PPI being positive and thus surging dollar demand)
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  • #9,204
  • Feb 16, 2011 8:09am Feb 16, 2011 8:09am
Quoting surewin888
can someone post dollar index chart? I'm confusing reading mine...It seems want to go back up before touch 61.8% retracement...

Like other opinions to confirm couple trade setup...thanks

Below is my $ index chart

Attachment
VJ
seeing the dollar rally in the chart, i should have stick with it...oh well...
  • #9,205
  • Feb 16, 2011 8:12am Feb 16, 2011 8:12am
Quoting redsword11
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Attachment

lets put this to bed again - another example


- prices on approach to supply - there was spiking south whilst rising, or some may say finishing triangle, but the act of spiking is removing small pockets of demand to clear a path south for a drop - this is where l suggest that PRICES THINK AHEAD OF TIME because there is no other explanation. Anyway, prices will continue to rise in this manner until they hit enough supply to then drop THROUGH the compressed zone


at first sight as its moving north in this manner it may appear bullish, but its bullish until it hits supply but the act of spiking south whilst moving north has cleared the path south
  • #9,206
  • Feb 16, 2011 8:14am Feb 16, 2011 8:14am
Quoting redsword11
Attachment



closed


loony @ supply


........ and here is the result


the bears moving into the clear compressed zone is not called anything - the spiking south whilst rising is called compression



if bears did not fill this zone then it was not compression it was rejection
  • #9,207
  • Feb 16, 2011 8:16am Feb 16, 2011 8:16am
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  • #9,208
  • Feb 16, 2011 8:17am Feb 16, 2011 8:17am
Quoting dbeach777
I've been watching this pair for quite a while now and believe we can see a quick 600 point sell-off soon, based on weekly and monthly setup, although it also wouldn't surprise me if it spiked up first to make a brief new high around 1.0300... just my thoughts, what do you think? I do know that I'm going to short every setup I get for awhile
Historically I've profited more from this pair then any other.

Yeah i dont know, i should have shorted at the golden coloured supply zone up there but due to priceaction i was not convinced it would hold. My bad, missed a great opportunity.

Either way at the bottom orange demand level.. im pretty convinced it should hold up.

Red any comments on AU?
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  • #9,209
  • Feb 16, 2011 8:20am Feb 16, 2011 8:20am
Closed 1 position @ .9705
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  • #9,210
  • Feb 16, 2011 8:20am Feb 16, 2011 8:20am
Taken out. Back in.

Quoting emene
HI there, small long EU, will watch PA.
Hello.
  • #9,211
  • Edited 8:53am Feb 16, 2011 8:25am | Edited 8:53am
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qutie often you will see compression FOLLOWED BY A LAST run into supply, giving you the impression its bullish, the last run into supply is 2 things - giving you the impression its bullish and prices reaching for the extreme of the supply - may appear misleading the last run into supply, but we are PA traders, we know ....................



CAN'T BE HIDDEN but they will try and fool us - fcukers, we see you
  • #9,212
  • Feb 16, 2011 8:27am Feb 16, 2011 8:27am
ok, with that now cleared up


lets trade and spill them all
  • #9,213
  • Feb 16, 2011 8:32am Feb 16, 2011 8:32am
bought cable @ 1.60176 30 pip manual stop
  • #9,214
  • Feb 16, 2011 8:33am Feb 16, 2011 8:33am
Thanks red for taking the trouble to explain compression again. I know you done it many times..sorry about that.
  • #9,215
  • Feb 16, 2011 8:55am Feb 16, 2011 8:55am
Quoting ignored
Thanks red for taking the trouble to explain compression again. I know you done it many times..sorry about that.



let them fcuking try - we are PA traders



core trading - zero guessing in the moment



bring it
  • #9,216
  • Feb 16, 2011 8:55am Feb 16, 2011 8:55am
bought eu
  • #9,217
  • Feb 16, 2011 8:59am Feb 16, 2011 8:59am
Quoting redsword11
bought eu

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  • #9,218
  • Feb 16, 2011 9:02am Feb 16, 2011 9:02am
Bought Pound.
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  • #9,219
  • Feb 16, 2011 9:09am Feb 16, 2011 9:09am
Not exactly sure how to interpret those spikes. But it reds predictions about EU are correct then this should be going up aswell, its dangerously close to the lower band of the demand zone but it failed to breach below the last time it was at this levels, only pins.

=/
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  • #9,220
  • Feb 16, 2011 9:14am Feb 16, 2011 9:14am
Quoting redsword11
bought cable @ 1.60176 30 pip manual stop


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