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  • #424,361
  • Apr 19, 2011 3:49pm Apr 19, 2011 3:49pm
Quoting redsword11
...... as usual, forgetting my manners


good evening MX
lol...

No worries Red...

Good evening to you Sir...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #424,362
  • Apr 19, 2011 3:52pm Apr 19, 2011 3:52pm
Quoting the redlion
first off as crass as you are you make great points.

fibs don't turn price
trend lines don't turn price
bollinger
MACD
stochastics
Support and resistance

they are all TECHNICAL STUDIES designed to give you tools to either do or die (enter a trade) or if used correctly.....i can go as far as to say you can use that information to aid you on your decision process the trick is not to let them INFLUENCE OR MAKE YOU HAVE A BIAS.

PRICE ACTION has its flaws as welll, a bunch of candles wont turn price. They are an indication of what price has done...

ITS RED SWORD , thank you
  • #424,363
  • Apr 19, 2011 3:53pm Apr 19, 2011 3:53pm
....... the wall exists today, you can visit the dust of those brave children
  • #424,364
  • Apr 19, 2011 3:59pm Apr 19, 2011 3:59pm
Quoting redsword11
....... the wall exists today, you can visit the dust of those brave children
REDSWORD indeed, hell yea lol...

infact the chinese built THE Great wall of china... only at that time it wasnt forex... more like emperor's greed which is equivalent to modern day big boy banks...

FMl im talking too much BS i really got to get back to UK soon so i can trade the normal times... FML...
oh and red, have to watch out our manners here, i got reported by a noob trader whom i pissed off 2 weeks ago because asked me whats the significance of USDX when you trade EURUSD... LOL... imagine how boiled up i was that time...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #424,365
  • Apr 19, 2011 3:59pm Apr 19, 2011 3:59pm
Quoting Magix
This is what I am seeing Red...

Not so much a fib, but retrace for a trigger down on the hourly...

R2R on this one worthy of a shot IMO...
Missed that line..thanks
Attached Image (click to enlarge)
Click to Enlarge Name: 19042011h4.gif Size: 16 KB
  • #424,366
  • Apr 19, 2011 4:00pm Apr 19, 2011 4:00pm
Quoting PayTheLimit
My ploblem with fibs has always been where to draw the damn things. Which swing to start with, which high, whick low, etc. Thats why I have been using some other, rather unorthodox methods, kinda like pulling them out of my ass. Seems to be working from time to time however.
I agree with you totally. With so many TF to draw Fib lines in, which one(s) is(are) significant? Even in the same TF, you can draw Fib lines from many different High and Low points, which ones are you going to trade from? Which levels from which lines are the important ones?

Very often, I see charts filled with Fib reversal lines within Fib reversal lines and then enveloped within other Fib tools like Speedlines, Fans, Gann lines... I have always wondered what exactly are you
supposed to be looking for on those charts.

Maybe some of the more experienced Fib traders here can shed some light on this...
Make your losses in demo. Earn your profits live.
  • #424,367
  • Apr 19, 2011 4:03pm Apr 19, 2011 4:03pm
lets trade ....


awaiting corn buy @ 740.19
  • #424,368
  • Apr 19, 2011 4:06pm Apr 19, 2011 4:06pm
http://euobserver.com/9/32208

This is the first country that will torpedo the EUSSR from the Eastern front. There is a pattern in the EUSSR friends, a pattern that cant be stopped.
  • #424,369
  • Apr 19, 2011 4:06pm Apr 19, 2011 4:06pm
Quoting bguguen
REDSWORD indeed, hell yea lol...

infact the chinese built THE Great wall of china... only at that time it wasnt forex... more like emperor's greed which is equivalent to modern day big boy banks...

FMl im talking too much BS i really got to get back to UK soon so i can trade the normal times... FML...
oh and red, have to watch out our manners here, i got reported by a noob trader whom i pissed off 2 weeks ago because asked me whats the significance of USDX when you trade EURUSD... LOL... imagine how boiled up i was that time...

he built it to keep the outside world out - mixed results
  • #424,370
  • Apr 19, 2011 4:07pm Apr 19, 2011 4:07pm
Hi Red,
On that last note, you mean that you look at lower TF (let say 5min) to check if the pattern of the candles that makes the 30M hammer consists of compressed rally or not.
If compressed rally, likelihood is to go down in spite of Hammer on 30Min (on 4H demand). Right?


Quoting redsword11
just another point - eh, make sure that 30min hammer # 4hr demand is not constructed of compressed raliies - that will not hold
  • #424,371
  • Apr 19, 2011 4:07pm Apr 19, 2011 4:07pm
Quoting redsword11
lets trade ....


awaiting corn buy @ 740.19
wow... nice trade the worlds gona starve and another way to Gain from people's sufferings lol i like it... a friend of mine made 800 pip longing from 75 on UJ up to 85.5, and he was all in betting standard lots on it... cheeky F**k's rich now...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #424,372
  • Apr 19, 2011 4:08pm Apr 19, 2011 4:08pm
Quoting redsword11
lets trade ....


awaiting corn buy @ 740.19

what month, buddy?
Look Sharp/Trade Tight
  • #424,373
  • Apr 19, 2011 4:10pm Apr 19, 2011 4:10pm
Quoting redsword11
he built it to keep the outside world out - mixed results
Lol the chinese... they just go round it... got to give them the credit lol
nothing better than to live as one of them and learn from them ever since birth... got to be proud to be half chinese now a days...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #424,374
  • Apr 19, 2011 4:10pm Apr 19, 2011 4:10pm
Socker hit my SL at 0.9010, why is acting like this?
No other pair acting like this

Attached Image
  • #424,375
  • Apr 19, 2011 4:12pm Apr 19, 2011 4:12pm
Quoting BrunargarFx
Hi Red,
On that last note, you mean that you look at lower TF (let say 5min) to check if the pattern of the candles that makes the 30M hammer consists of compressed rally or not.
If compressed rally, likelihood is to go down in spite of Hammer on 30Min (on 4H demand). Right?


if the hammer is constructed of a compressed rally, inotherwords the 5 min is spiking south whilst rising to create the 30 min hammer ....... the hammer will fail


its not what the hammer on 30 min looks like, its what that that hammer is built off that makes it more important
  • #424,376
  • Apr 19, 2011 4:12pm Apr 19, 2011 4:12pm
Quoting Forexia
Maybe some of the more experienced Fib traders here can shed some light on this...
Working with fibs is no different then any other market indicator...Different time frames will allow for different entries and profit expectations, a nd knowing how to use them both effectively and properly is a science unto itself....

I work with and trade with a lot of different tolls and a multiplicity of pairs, all spread accross the different TFs...Reason being...It's pretty easy to find a couple quickies and cash out while most are waiting to take a trade...

Use the ZZ indicator for working with the fib extensions. Drop them onto a 5M chart and start understadning the value of the lowest trigger point, 23.6....from there, each pair has their own favs on the retraces, some to 61.8, while others dead stop at 50...

If you keep in mind that this is only one tool you can trade with, you will increase your chances at success...If you have no comprension on using Fibs or assume Turns instead of targets, you are every bit as dead in the water as coin tossing.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #424,377
  • Apr 19, 2011 4:13pm Apr 19, 2011 4:13pm
Quoting suirad
Socker hit my SL at 0.9010, why is acting like this?
No other pair acting like this

Attachment

I got stopped out of my GBP/CHF trade on a freak spike a few minutes ago as well

thats the problem trading these low liquidity times
  • #424,378
  • Apr 19, 2011 4:14pm Apr 19, 2011 4:14pm
Quoting suirad
Socker hit my SL at 0.9010, why is acting like this?
No other pair acting like this

Attachment
Daily Roll Over...

Same time, every pair, every day...

Spread goes to shit, and the woods get choppy...

NY Close = New day beginning.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #424,379
  • Apr 19, 2011 4:14pm Apr 19, 2011 4:14pm
Quoting bguguen
Lol the chinese... they just go round it... got to give them the credit lol
nothing better than to live as one of them and learn from them ever since birth... got to be proud to be half chinese now a days...


yes, no doubting that, they also hold more usa debt than anyone else .......
  • #424,380
  • Apr 19, 2011 4:15pm Apr 19, 2011 4:15pm
Quoting Magix
Daily Roll Over...

Same time, every pair, every day...

Spread goes to shit, and the woods get choppy...

NY Close = New day beginning.

yup

moral of the story

be careful entering trades with tight stops around NY Close
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