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  • #418,101
  • Apr 5, 2011 7:50pm Apr 5, 2011 7:50pm
useful contribution for the day ......... again:

1. stay long. skyzer is still a bear.

kthanksbye
Thank You
  • #418,102
  • Apr 5, 2011 7:50pm Apr 5, 2011 7:50pm
Quoting Mr. Freeweed
when is the next one by the way
just give it time. hey, you should be used to wait for the right set up. LOL.
  • #418,103
  • Apr 5, 2011 7:51pm Apr 5, 2011 7:51pm
Quoting msj_rs
What is metube?
Another time killer:
http://1.bp.blogspot.com/_1a3jL1os97...er-bonita1.jpg
that's one helluva double top
Thank You
  • #418,104
  • Apr 5, 2011 7:52pm Apr 5, 2011 7:52pm
quick short here btw.
  • #418,105
  • Apr 5, 2011 8:08pm Apr 5, 2011 8:08pm
not sure about the short, we keep testing 4245
  • #418,106
  • Apr 5, 2011 8:12pm Apr 5, 2011 8:12pm
Quoting Mautje
not sure about the short, we keep testing 4245
To be fair, it keeps on getting rejected.
  • #418,107
  • Apr 5, 2011 8:16pm Apr 5, 2011 8:16pm
Quoting Kowalczyk
To be fair, it keeps on getting rejected.
True, just felt if you keep hammering something long enough, eventually it will break

Then again, that might be why I lost money today
  • #418,108
  • Apr 5, 2011 8:18pm Apr 5, 2011 8:18pm
Quoting Mautje
True, just felt if you keep hammering something long enough, eventually it will break

Then again, that might be why I lost money today
wrong thinking.

edit: actually it's not wrong, it's just not enough of an argument. watch what the price does over there, first and foremost.
  • #418,109
  • Apr 5, 2011 8:20pm Apr 5, 2011 8:20pm
Ok my map is showing 4290 in about 8 hours 12pm then down to 4220. I'm worried about going down to 4180 in the mean time. Todays support is shown at 4220/15 going sideways Thu. Friday 8AM 4220 to 4310 weekend open. Down to about 4290 then up to 4444 12PM Monday. Closed my higher long position to lock in some profit.
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  • #418,110
  • Apr 5, 2011 8:20pm Apr 5, 2011 8:20pm
Quoting Mautje
True, just felt if you keep hammering something long enough, eventually it will break

Then again, that might be why I lost money today
I agree, sort of. On the hourly, you see an ascending triangle. That would explain why we keep on testing 1.4245 My best guess is that the rate decision will determine if we break or reverse.
  • #418,111
  • Apr 5, 2011 8:20pm Apr 5, 2011 8:20pm
Quoting Mautje
True, just felt if you keep hammering something long enough, eventually it will break

Then again, that might be why I lost money today
The more a level is tested, the stronger it gets.

This is why many of our trend line guys say 3 touch minimum are the good trends.

Though, you must always pay attention to how rejections are happening. It's all described in the PA. Is each iteration of the rejection causing a rising trend line? a falling trend line? Has price slipped through a few times? On the times it went through, did it turn S>R or R>S ?
  • #418,112
  • Apr 5, 2011 8:22pm Apr 5, 2011 8:22pm
Thanks Learning.. I was/am in fact short at this time, though from 42301. Recon a short term TP @ 4219 is reasonable?
  • #418,113
  • Apr 5, 2011 8:27pm Apr 5, 2011 8:27pm
Quoting Mautje
Thanks Learning.. I was/am in fact short at this time, though from 42301. Recon a short term TP @ 4219 is reasonable?
i've closed my short (by mistake i might add). you have to be careful with shorts. this thing just keep on going for now.BE as soon as you can.
  • #418,114
  • Apr 5, 2011 8:29pm Apr 5, 2011 8:29pm
And another thing to keep in mind is if an area is touched repeatedly if it it should finally break through it may move a little further and then reverse back the other direction once again. A so-called breakout fakeout.
  • #418,115
  • Apr 5, 2011 8:30pm Apr 5, 2011 8:30pm
i posted this before ny close or so (m5). now if you extract the two hours useless trading in between there, it kinda came true. the lowest i would go though is 4200 (actually I have a bid sitting there, for target back up to here).

http://www.forexfactory.com/showpost...stcount=418072
  • #418,116
  • Apr 5, 2011 8:31pm Apr 5, 2011 8:31pm
Quoting SunTrader
And another thing to keep in mind is if an area is touched repeatedly if it it should finally break through it may move a little further and then reverse back the other direction once again. A so-called breakout fakeout.
Yes. If you want to trade breakouts, let the breakout happen, place order on retest.

Happens like clock work over and over and over and over and over and over and over and over.... yeah, over again!
  • #418,117
  • Apr 5, 2011 8:33pm Apr 5, 2011 8:33pm
Originally Posted by Larseg http://www.forexfactory.com/images/buttons/viewpost.gif
Why does every new trader thinks the EURUSD thread traders are here for learning purposes?

We are mainly here for killing time for the next setup... We dont have that many options keeping ourself busy. .....

... And these days when ASX has literally no volume its even worse daunting..

Couldn't agree with you more.

The lack of volume with the ASX and the vulnerability to manipulation are the reasons that I switched to the currencies.
  • #418,118
  • Apr 5, 2011 8:35pm Apr 5, 2011 8:35pm
Quoting suthmo
Ok my map is showing 4290 in about 8 hours 12pm then down to 4220. I'm worried about going down to 4180 in the mean time. Todays support is shown at 4220/15 going sideways Thu. Friday 8AM 4220 to 4310 weekend open. Down to about 4290 then up to 4444 12PM Monday. Closed my higher long position to lock in some profit.
wow... will be waiting to buy at about 4180-ish then!
  • #418,119
  • Apr 5, 2011 8:45pm Apr 5, 2011 8:45pm
Quoting suthmo
Ok my map is showing 4290 in about 8 hours 12pm then down to 4220. I'm worried about going down to 4180 in the mean time. Todays support is shown at 4220/15 going sideways Thu. Friday 8AM 4220 to 4310 weekend open. Down to about 4290 then up to 4444 12PM Monday. Closed my higher long position to lock in some profit.
this voodoo man go some time next to his calls
  • #418,120
  • Apr 5, 2011 8:46pm Apr 5, 2011 8:46pm
Quoting suthmo
Ok my map is showing 4290 in about 8 hours 12pm then down to 4220. I'm worried about going down to 4180 in the mean time. Todays support is shown at 4220/15 going sideways Thu. Friday 8AM 4220 to 4310 weekend open. Down to about 4290 then up to 4444 12PM Monday. Closed my higher long position to lock in some profit.
this voodoo man go some time next to his calls
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