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  • #442,701
  • May 16, 2011 10:45am May 16, 2011 10:45am
Some good posts here today...
Do your time and enjoy the ride...
  • #442,702
  • May 16, 2011 10:46am May 16, 2011 10:46am
Quoting Dvalera
Hi all! so i am going to try trading weekly , i will take a trade a month i'm not risking much just would like to get a feel for it , i personally think the euro will hit 1.4320-80 area and bounce back eventually hitting 1.37 area .. i think Greece will cause most of this .. Any ideas were its a good price to short in your opinion .. i totally understand i may be wrong so i have my stop loss at 1.45 ish .. ANY IDEAS ? I DON'T MIND CRITICISM

Hi - I don;t think euro will hit 1.37. Reason being OIL. When oil goes up, euro will go up. And trust me - oil will go up...
  • #442,703
  • May 16, 2011 10:47am May 16, 2011 10:47am
Made a nice 67+ pips on this pair today, put a buy stop in @ 1.41512, closed @ 1.42190.
  • #442,704
  • May 16, 2011 10:49am May 16, 2011 10:49am
Quoting johnnyrei
Hi - I don;t think euro will hit 1.37. Reason being OIL. When oil goes up, euro will go up. And trust me - oil will go up...
So would you think Shorting at 1.4350 wouldn't be good?
  • #442,705
  • May 16, 2011 10:51am May 16, 2011 10:51am
Quoting hindustani
time to make some money to buy popcorn
Hello Hindustani,

Based on an earlier template posted by you (MA2, MA3 on CCI 14), there was a sell about 6 or 7 hours ago at 1.4115. Did you take that one?

What is your usual TP on such trades?
Tks.

TF
  • #442,706
  • May 16, 2011 10:53am May 16, 2011 10:53am
a count
Attached Image (click to enlarge)
Click to Enlarge Name: 16may11euro1.PNG Size: 58 KB
Don't have an ego. Always question yourself and your ability.
  • #442,707
  • May 16, 2011 10:53am May 16, 2011 10:53am
Quoting Dvalera
So would you think Shorting at 1.4350 wouldn't be good?
For long term position? No I don't think so - rumor has it oil will hit 150 - 200 dollars a barel within 3 - 6 moths or so... Just look at last oil rally of 2008 - oil retraced from exactly same area (couple of dollars +) as it retraced back then.. Next monthl ymove from 97 - 98 area was up to 120 sollars / barrel...
  • #442,708
  • May 16, 2011 10:56am May 16, 2011 10:56am
I am just wondering in the quite patches if people would mind listing thier favourite book related to trading... ie the one that perhaps gave the most ahhh haa moments.

mine so far has been The Encyclopedia of chart patterns by Bulkowski. I like looking at the probabilities of certain pattern. Of course i still struggle finding them but when i do its good to know how they will PROBABLY move and with what certainty.
  • #442,709
  • May 16, 2011 10:57am May 16, 2011 10:57am
http://elliottwavepredictions.com/






Quoting RamsesII
a count
  • #442,710
  • May 16, 2011 10:59am May 16, 2011 10:59am
Quoting needpips
http://elliottwavepredictions.com/
thanks for the link
Don't have an ego. Always question yourself and your ability.
  • #442,711
  • May 16, 2011 11:01am May 16, 2011 11:01am
Quoting RamsesII
a count
Beautiful ... schwarz auf weiß ... krieg ich kein Augenweh von ...

Easy to see ... nachvollziehbar ...


2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #442,712
  • May 16, 2011 11:16am May 16, 2011 11:16am
Quoting RamsesII
thanks for the link
I don't see how he's labeling that early wave 1 when it's a clear three wave move. Also he has c going to minimum above a which is not a requirement (think if a=c)
Don't have an ego. Always question yourself and your ability.
  • #442,713
  • May 16, 2011 11:17am May 16, 2011 11:17am
Quoting mercy seat
Beautiful ... schwarz auf weiß ... krieg ich kein Augenweh von ...

Easy to see ... nachvollziehbar ...


now we just need it to work
Don't have an ego. Always question yourself and your ability.
  • #442,714
  • May 16, 2011 11:25am May 16, 2011 11:25am
Quoting RamsesII
I don't see how he's labeling that early wave 1 when it's a clear three wave move. Also he has c going to minimum above a which is not a requirement (think if a=c)
Hi Ramses,

the early wave 1 is labeled wrong (or better: placed wrong). He has to push the number a little bit to the left to 4825, then wave two as ABC flat.

But maybe that all belonged to the preceding upmove with a failed fifth. On two and four hour the picture is clearer.

And you are certainly right about A=C, and we can maybe get a running flat, where A>C
  • #442,715
  • May 16, 2011 11:28am May 16, 2011 11:28am
Quoting infinitus
Hi Ramses,

the early wave 1 is labeled wrong (or better: placed wrong). He has to push the number a little bit to the left to 4825, then wave two as ABC flat.

But maybe that all belonged to the preceding upmove with a failed fifth. On two and four hour the picture is clearer.

And you are certainly right about A=C, and we can maybe get a running flat, where A>C

Hi Fini ...

Nach Dir hab' ich gerade Ausschau gehalten ... da bisse ja ...
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #442,716
  • May 16, 2011 11:30am May 16, 2011 11:30am
Sunday I was writing a longer part to you ... but did not submit until now ... at least it contained a recommendation ... and a few LINKS with charting software ... like this one from RAMSES ....


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #442,717
  • May 16, 2011 11:31am May 16, 2011 11:31am
Quoting infinitus
Hi Ramses,

the early wave 1 is labeled wrong (or better: placed wrong). He has to push the number a little bit to the left to 4825, then wave two as ABC flat.

But maybe that all belonged to the preceding upmove with a failed fifth. On two and four hour the picture is clearer.

And you are certainly right about A=C, and we can maybe get a running flat, where A>C
Oh, I meant the wave 1 he has labeled which happened yesterday where I have A in the short term count. It looks like a clear 3-wave move to me... it looks like he may just be fitting the movement today to his favoured count; maybe it's because of the bullish divergences he's seeing that makes him favour more upside.
Don't have an ego. Always question yourself and your ability.
  • #442,718
  • May 16, 2011 11:32am May 16, 2011 11:32am
Quoting cloggie
Here we go, well behaved so far. Now we need a rejection to complete the pattern, if that does not happen we are back to consolidating again. That's why I covered earlier.

These are areas where most noobs get all confused, short, ah sh!t, better buy, ah sh!t stopped, better sell again, ah sh!t, not going anywhere, what the heck am I doing wrong.
Hi
Just back home from my work.
Very True Cloggie was just thinking the same
Tomorrow news :German ZEW Economic Sentiment this could give high volatility
  • #442,719
  • May 16, 2011 11:32am May 16, 2011 11:32am
Quoting TradeForexFx
Hello Hindustani,

Based on an earlier template posted by you (MA2, MA3 on CCI 14), there was a sell about 6 or 7 hours ago at 1.4115. Did you take that one?

What is your usual TP on such trades?
Tks.

TF
i was playing rise of rome on gameranger then, just logged back in for some popcorn, but the going is too slow
  • #442,720
  • Edited 12:29pm May 16, 2011 11:33am | Edited 12:29pm
Quoting hindustani
in 4 hours euro corrected over 200 pips, well 1 hour is done for now, but i will continue praying for those who went short then.

How could the Euro correct over 200 pips in 4hrs when the daily candle is at 197pips, its people like you who shouldn't be giving advice or trading!
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