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  • #436,521
  • May 5, 2011 11:46am May 5, 2011 11:46am
Quoting Chicky
I don't see anything wrong with longs at this point. The new trend is yet to emerge.
Apparently everyone forget about April 18th already...
  • #436,522
  • May 5, 2011 11:47am May 5, 2011 11:47am
Quoting infinitus
Wow, but self experience, observations etc. does not provide validity. Period......

Come up with a study that HS-pattern work and you are the man.

Meanwhile read in the linked message the study from the FED itself about HS-trading.

http://www.forexfactory.com/showpost...&postcount=167

And my statement: HS-pattern work only in a propper Elliott-wave context:

left shoulder wave 3 end and wave 4 valley, head is wave 5up and the following wave 1 down (trend change), right shoulder wave two up. On the right shoulder you...
Exactly.
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #436,523
  • May 5, 2011 11:47am May 5, 2011 11:47am
Quoting milagro
Depending on the TF + SL you can of course always see it both ways. On anything below daily i would disagree based on my confirmation oriented style though. Even there...
I agree with you. Just one thing: I never trade on smaller timeframes during the times of big moves. PA simply disregards smaller timeframes during these times.

I added to my shorts just above 1.4600 but I have such an small position that doesn't need a tp or sl.
The Thief of Wall Street
  • #436,524
  • May 5, 2011 11:47am May 5, 2011 11:47am
Interesting concept .... look at the weekly channel . We could kiss bottom at 1,4 and we are still in an up trend. But who wants 900 pips of draw down.?

Trend is all relative.

15 min is in down trend
60 min down trend,
etc etc

daily UP trend is not truely broken till 1.4 is taken out.

However 1.450 and if that break 1.4250 and then 1.4 area very clear levels of support on the charts

Now that being said i am neither bull nor bear as i trade using vsa and I only react to market NOT try and guess it

Quoting Wulfgar
^^^ this

frankly this thing has yet to even challenge the bottom of the weekly channel at 4529... until it breaks that number substantially and closes below it on a Daily Bar all this talk about a trend reversal doesnt hold much water IMHO
Blogging daily now at www.volume.zone
  • #436,525
  • May 5, 2011 11:48am May 5, 2011 11:48am
Quoting Venice
Apparently everyone forget about April 18th already...

S&P down grade... EU dropped str8 to 4155 off the top of my head and absolutely exploded up over 4500 in 2 days
  • #436,526
  • May 5, 2011 11:48am May 5, 2011 11:48am
Quoting Chicky
I agree with you. Just one thing: I never trade on smaller timeframes during the times of big moves. PA simply disregards smaller timeframes during these times.

I added to my shorts just above 1.4600 but I have such an small position that don't need a tp or sl.
Not to get to philosophical here... but a price is valued at the same price, regardless of what time frame.
  • #436,527
  • May 5, 2011 11:49am May 5, 2011 11:49am
what is so great about a call that went 400 pips higher ? what is causing the eu to come off is the sudden change in commodities / usd. Feds are up to something. It has NOTHING to do with th rate hike. Did oil drop 6% today due to the lack of Euro rate hike ? NO.....

did we see this move coming in the charts YESTERDAY ... yes. I even commented on it

Quoting Wulfgar
great call!
Blogging daily now at www.volume.zone
  • #436,528
  • May 5, 2011 11:50am May 5, 2011 11:50am
he came a day early...
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  • #436,529
  • May 5, 2011 11:50am May 5, 2011 11:50am
Quoting egkid
Just back home before i read any post I Bet everybody now Says
I'm on great profit I'm first one sell while u all buying
Go back few days or 2 weeks to know the Truth
happy for u bro


lol who was buying
  • #436,530
  • May 5, 2011 11:51am May 5, 2011 11:51am
Quoting malcolmb14
Interesting concept .... look at the weekly channel . We could kiss bottom at 1,4 and we are still in an up trend. But who wants 900 pips of draw down.?

Trend is all relative.

15 min is in down trend
60 min down trend,
etc etc

daily UP trend is not truely broken till 1.4 is taken out.

However 1.450 and if that break 1.4250 and then 1.4 area very clear levels of support on the charts

Now that being said i am neither bull nor bear as i trade using vsa and I only react to market NOT try and guess it

It is all relative and I am looking at it in terms of the TF's I personally trade. Im a swing to position trader so I play off of Annual, quarterly, monthly and weekly charts primarily

Ill use the Daily charts to hone in on entries

From a Monthly perspective the bottom is at 3728... after that is the 3072, then the 2560 and finally 1.2002 before we take out the 18xx low
  • #436,531
  • May 5, 2011 11:52am May 5, 2011 11:52am
Quoting wulfgar
great call!
and yet the muppet master tells me how to trade lol
  • #436,532
  • May 5, 2011 11:52am May 5, 2011 11:52am
Quoting Venice
Not to get to philosophical here... but a price is valued at the same price, regardless of what time frame.
Let me get bit more philosopical, everything has a price, it depends how much you are willing to pay for your wants.
The Thief of Wall Street
  • #436,533
  • May 5, 2011 11:53am May 5, 2011 11:53am
Quoting shyvoodoo
My take:
- Could go down to .4530 where major support/resistance was from last month.
- Price at this moment seems to be hung up on the 20 period SMA on the daily chart.
- Potential double bottom at the Weekly R1 forming on the 1 hour chart.
- Support possible forming @.4574 on the 15 min chart.

Conclusion: I'm looking at this latest big move as a MASSIVE correction and I'm payin close attention what price does at the 20 SMA on the Daily.

I'm gonna look to buy the bounce off the 20 SMA should it manage to hold up..

Thanks,
First post, if im...
Here is the chart for that bro . I am also watching that level. Or may even go down to the rising TL . Lets see
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The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #436,534
  • May 5, 2011 11:54am May 5, 2011 11:54am
shitty looking chart but it fits the box
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  • #436,535
  • May 5, 2011 11:54am May 5, 2011 11:54am
I am a trader that trades 12 hour charts

eu moves on average 120 pip a day , 340 a week

I look for 200 pip of that 340 , adding 10 to 20% on account per week. Been at this 4 years , almost ready to retire a very happy man

I trade eu , es , oil mostly sometime throwing gold in there

Quoting Wulfgar
It is all relative and I am looking at it in terms of the TF's I personally trade. Im a swing to position trader so I play off of Annual, quarterly, monthly and weekly charts primarily

Ill use the Daily charts to hone in on entries

From a Monthly perspective the bottom is at 3728... after that is the 3072, then the 2560 and finally 1.2002 before we take out the 18xx low
Blogging daily now at www.volume.zone
  • #436,536
  • May 5, 2011 11:54am May 5, 2011 11:54am
Quoting malcolmb14
what is so great about a call that went 400 pips higher ? what is causing the eu to come off is the sudden change in commodities / usd. Feds are up to something. It has NOTHING to do with th rate hike. Did oil drop 6% today due to the lack of Euro rate hike ? NO.....

did we see this move coming in the charts YESTERDAY ... yes. I even commented on it

im giving him props for utilizing his system the way he needs to... if he turned a profit with it then who is to say he is wrong?


I agree something fishy is going on... But ive had this 4911 area circled on my numbers sicne we blew through it back in feb 2008... and it was a tough egg to crack back then too... for many similar reasons( commods were goin crazy, financial world crisis setting in, etc)


these markets have a funny way of repeating the past
  • #436,537
  • May 5, 2011 11:55am May 5, 2011 11:55am
I went for a run....seems lower still...all good...watchin
  • #436,538
  • May 5, 2011 11:56am May 5, 2011 11:56am
Quoting malcolmb14
I am a trader that trades 12 hour charts

eu moves on average 120 pip a day , 340 a week

I look for 200 pip of that 340 , adding 10 to 20% on account per week. Been at this 4 years , almost ready to retire a very happy man

I trade eu , es , oil mostly sometime throwing gold in there
12 hour charts?? I love that concept( may need to pull some of those up!)


congratulations on your success my friend. its a tough game and those of us who make it definately are to be commended.
  • #436,539
  • May 5, 2011 11:58am May 5, 2011 11:58am
Quoting FibbinArchie
he came a day early...
Thats what worries me. Hope its not a fake.
The Thief of Wall Street
  • #436,540
  • May 5, 2011 11:58am May 5, 2011 11:58am
Quoting Chicky
Let me get bit more philosopical, everything has a price, it depends how much you are willing to pay for your wants.
heh heh heh. Cheers Chicky!
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