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  • #388,601
  • Feb 16, 2011 9:56am Feb 16, 2011 9:56am
3520 is next up on my list. Lost our volume though. 3580 again above.

Short at 35562. May set some stops and targets and go take a nap.
  • #388,602
  • Feb 16, 2011 9:56am Feb 16, 2011 9:56am
Quoting SunTrader
The trend in the Middle East is Protest and throw the bums out of office.

Latest is Libya. Khaddafi might be a hard one to topple.
man its all over yamen bahrein jordan libya
  • #388,603
  • Feb 16, 2011 9:57am Feb 16, 2011 9:57am
Quoting gatorinla
really?
Depends on which TF you're viewing surely??
  • #388,604
  • Feb 16, 2011 10:13am Feb 16, 2011 10:13am
we may have found a bit of interim support here off the 38.2, not too much of a reaction so far mind...
  • #388,605
  • Feb 16, 2011 10:14am Feb 16, 2011 10:14am
Quoting infinitus
At the top today I thought about a truncated 5th.

It wasn't one.

The corrective up move ended at 3570. I was expecting a 5 wave impulse move up and saw only two impulses.

It was a big mistake. The move that we saw finally was an ABC - impulse - correction - impulse

Since all the moves in the whole corrective moves since the low at 3428 followed this pattern it was a mistake to wait for a 5-3-5-3-5 pattern.

The move down today is on some TF's hard to count as an impulse. On 1h chart especially the middle part looks suspect and leads to a conclusion,...
No no no ... the major move has been clearly to the upside ... roughly 1.3589 has been highest until now ... and 1.3463 has been lowest ...

We never came even mildly towards below 1.3449 zone ... which would have been a minimum downside retrace target (daily pivotal Sup 1) ...

And moreover in order to keep it clear and simple ... the daily graph ... no matter if you like it in BARS or CANDLES ... will print with a higher high and a higher low ...

Of course ... day is not at its end ...



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #388,606
  • Feb 16, 2011 10:19am Feb 16, 2011 10:19am
Quoting FibbinArchie
we may have found a bit of interim support here off the 38.2, not too much of a reaction so far mind...
supply zone and mini mofu @66
  • #388,607
  • Feb 16, 2011 10:25am Feb 16, 2011 10:25am
That spike sure was great to blow up some accounts.
  • #388,608
  • Feb 16, 2011 10:26am Feb 16, 2011 10:26am
Quoting Gleneagles
+78 ( 6 X 12) +6

+14.04%

mtd 786
+100.6%

Compounding factor 1.8 used today

Just a brief explanation about how I use compounding and what compounding factor means.

I trade two "speculation accounts " as well as " investment accounts"
Speculation accounts are reset every month and trade size is = 100k/$10000
or 1 minilot / $1000 capital.
Example:

Account $10000 trades 10 minilots or 1 lot
Account balance $12000 trades 12 minilots (compounding factor 1.2)
Account balance $16000 trades 16 minilots (compounding factor 1.6)
Account balance $18000 trades 18 minilots (compounding factor 1.8)

etc etc

At month end I take out a " salary " from the "speculation accounts" and transfer the balance to the "investment accounts"
The "speculation accounts" will start the new month with original balance.

The "investment accounts " are traded at a rate of 10 minilots/$20000 capital and compounded accordingly.

I trust it makes sense to you.
" Never let the past hold the future to ransom "
  • #388,609
  • Feb 16, 2011 10:26am Feb 16, 2011 10:26am
Quoting FibbinArchie
supply zone and mini mofu @66
I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it
Look Sharp/Trade Tight
  • #388,610
  • Feb 16, 2011 10:28am Feb 16, 2011 10:28am
Quoting mercy seat
No no no ... the major move has been clearly to the upside ... roughly 1.3589 has been highest until now ... and [color=Green]1.3463 [color=Black]has been lowest ...

We never came even mildly towards below 1.3449 zone ... which would have been a minimum downside retrace target (daily pivotal Sup 1) ...

And moreover in order to keep it clear and simple ... the daily graph ... no matter if you like it in BARS or CANDLES ... will print with a higher high and a higher low ...

Of course...


Hi Mercy,

yeah, at todays low with the start of the strong rejection I knew, that I was wrong in my asumption.

Is kind of the old German saying "Man soll den Tag nicht vor dem Abend loben".

When price shoot finally up I had my "WTF" moment LOL

Surprise, surprise.....
  • #388,611
  • Feb 16, 2011 10:28am Feb 16, 2011 10:28am
Bull at top with likely consolidation breaking 200ma in h1 tf , min abc up or impulse 3 4 5 next after it success bull here , above 3597.previous chanel ( may need draw fresh ) may not work as already disresected breaking down .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #388,612
  • Feb 16, 2011 10:29am Feb 16, 2011 10:29am
Quoting PayTheLimit
I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it
hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...
  • #388,613
  • Feb 16, 2011 10:30am Feb 16, 2011 10:30am
Quoting Gleneagles
Just a brief explanation about how I use compounding and what compounding factor means.

I trade two "speculation accounts " as well as...
seems like a good set up, do you not speculate on stocks with the investment acct?
  • #388,614
  • Feb 16, 2011 10:30am Feb 16, 2011 10:30am
Quoting PayTheLimit
I'm also watching that number brother, wondering if it opens a test of 3613/18...if we get a close above it
by a pip on that last 5min close...
Look Sharp/Trade Tight
  • #388,615
  • Feb 16, 2011 10:32am Feb 16, 2011 10:32am
Quoting FibbinArchie
hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...
of course I could be wwwrong, needs to hold above, wicks don't count and signify rejection if anything...
  • #388,616
  • Feb 16, 2011 10:37am Feb 16, 2011 10:37am
Quoting FibbinArchie
hmm, well at the very least a retest of the high if it goes I would think, 30 mins till news...
yea, risky...still think a good close above it opens a leg up, that said below it 3503/16 is still close enough the way we been moving today...
Look Sharp/Trade Tight
  • #388,617
  • Feb 16, 2011 10:38am Feb 16, 2011 10:38am
Quoting Gleneagles

I trust it makes sense to you.
Yes it does and thanks ... will have to admit on taking off some of the zeros.

Cheers
  • #388,618
  • Feb 16, 2011 10:41am Feb 16, 2011 10:41am
Quoting PayTheLimit
by a pip on that last 5min close...
and again...lol
Look Sharp/Trade Tight
  • #388,619
  • Feb 16, 2011 10:41am Feb 16, 2011 10:41am
Quoting PayTheLimit
yea, risky...still think a good close above it opens a leg up, that said below it 3503/16 is still close enough the way we been moving today...
yeah we could well see more of this chop...

I'll be looking for a possible position short off the falling TL if we go higher...
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  • #388,620
  • Feb 16, 2011 10:42am Feb 16, 2011 10:42am
how high are we going to get? 1.6?
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tehboy