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  • #472,141
  • Jun 25, 2011 7:04pm Jun 25, 2011 7:04pm
Quoting Chicky
Ironically, I have to trade off this chart. Check my weeks old posts, you will find same shit there.
I am missing the Irony...

Please Elaborate...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #472,142
  • Edited 7:25pm Jun 25, 2011 7:13pm | Edited 7:25pm
Quoting egkid
Interesting ...
U r view for next week is?
For the record i don't know where PA is going,but for sure i will me going with it. Following the current trend. Sorry i never have a bias to PA, i just play by my rules follow the current trend and get out when it change. It has been a while since i have done this but here it go.

The year on PA with MA 1 year, 6 month and 3 month on a 4hr chart and this chart PA as broken the year MA from January 13 and have stay above the 1 year MA since(Blue Line MA) to add to it it as also stay above the 6 month MA(White Line MA) with rejection,Note*** Japan Intervention have a big role to play also Europe crisis, but let us not get into that stick with chart view. PA over the last two months have rejected the 3 Month MA(Red Line MA) for move up the resent was Tuesday of this week which is currently at 1.4409, so if this is taken out with confirmation by a day candle or a week open above it, then PA will attempt 1.4700 and if that can't contain it then 1.5000, now with such rejection PA is indicating that it want to go down the the 6 month MA is currently at 1.4103 and the 1 year MA is at 1.3717 once there is a break of the 6 month MA with confirmation then it with head for the 1 year MA, my view with no bias on either side. I follow the current trend

Attached Image (click to enlarge)
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Following the current trend
  • #472,143
  • Jun 25, 2011 7:23pm Jun 25, 2011 7:23pm
Quoting Magix
I am missing the Irony...

Please Elaborate...
Now don't squeeze me.

Chicky's charting methodology:

1. Switch to bigger timeframe (weekly and daily)
2. Draw two trendlines a) connecting Lows (ascending or blue lines), b) connecting highs (descending or yellow lines).
3. Trendlines using bigger timeframe are considered stronger and therefore are dotted to distinguish from other trendlines.
4. Move to smaller time frames (4h, 3h or 1H) and put parallel lines connecting lows (blue unbroken lines) and highs (yellow unbroken lines).
5. The key is that these lines should be perfectly parallel. If they do not align perfectly, there is something wrong with the two basic trendlines drawn using bigger timeframe. Redo to make sure lines are perfectly aligned with most highs and lows.
6. Draw horizontal lines at main Price Pivot Zones (Gator's Mofu). These zones are horizontal support and resistances on bigger timeframes (Pink Lines).
7. Never delete a line. Keep on adding one or two lines per week.
8. If pa reacts strongly at a line, convert that to a dotted line representing strong support/resistance.
Most reliable areas are where horizontal and angullar trendline meet near a psychological level.
9. Take trades in areas where there are more lines or points where they intersect, chances are that pa would bounce or retrace from those lines.
10. Remember, these lines do not come from Torah, therefore do not over-rely on these lines, just take chances to make or lose 1% at each bounce or break.

Principle: Pa has elephant memory, and therefore when it touches a historical trendline is bound to show more than normal price fluctuation because of active buying and selling at these points.
The Thief of Wall Street
  • #472,144
  • Jun 25, 2011 7:42pm Jun 25, 2011 7:42pm
Quoting Chicky
Now don't squeeze me.

Chicky's charting methodology:

1. Switch to bigger timeframe (weekly and daily)
2. Draw two trendlines a) connecting Lows (ascending or blue lines), b) connecting highs (descending or yellow lines).
3. Trendlines using bigger timeframe are considered stronger and therefore are dotted to distinguish from other trendlines.
4. Move to smaller time frames (4h, 3h or 1H) and put parallel lines connecting lows (blue unbroken lines) and highs (yellow unbroken lines).
5. The key is that these...

I understand the concept, just really don't see the irony...

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #472,145
  • Jun 25, 2011 7:44pm Jun 25, 2011 7:44pm
Possible play out
S
Attached Image (click to enlarge)
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  • #472,146
  • Jun 25, 2011 8:10pm Jun 25, 2011 8:10pm
Has anybody else paying attention to oil lately? A lot of important things have been happening. We may be reserving the damage that has been done by the whole Libya fiasco.

First, Saudi Arabia increased their daily output by 1.5 million barrels a day. Libya contributed about 1.5-1.7 million barrels per day (bpd.)

Also, the international Energy Agency is releasing 60 million barrels over the next 30 days. Half of which, are coming from the United State's strategic oil reserves.

Technically speaking, $92.50 is a pretty strong resistance level on WTI (crude oil.) Oil stayed under $92.50 up until February 20th, the day the UN imposed the no-fly zone. Oil skyrocketed after that and hasn't looked back until the past week. Right now we're at $91.27, as long as the Saudis can account for the loss in output from Libya, we should manage to stay below 92.50.

Something to keep in mind though, its vacation season in America, lots of road trips. Oil consumption will rise, especially once the price of gas comes down.
motivation
  • #472,147
  • Jun 25, 2011 8:36pm Jun 25, 2011 8:36pm
Quoting Magix
I understand the concept, just really don't see the irony...

You will see it my friend, when you trade these lines. One candle will close just above a line yet below another line.
The Thief of Wall Street
  • #472,148
  • Jun 25, 2011 8:38pm Jun 25, 2011 8:38pm
well this is what i think it will go down after a small bullback then a drop to remember but this is the last week of the month so correction may occur at 27 th of the month
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  • #472,149
  • Jun 25, 2011 10:30pm Jun 25, 2011 10:30pm
Quoting Chicky
You will see it my friend, when you trade these lines. One candle will close just above a line yet below another line.
An older post of mine regarding trendlines. Three touches trendlines that is.

http://www.forexfactory.com/showthre...78#post4544878
  • #472,150
  • Jun 25, 2011 10:36pm Jun 25, 2011 10:36pm
Quoting 10piptrade
For the record i don't know where PA is going,but for sure i will me going with it. Following the current trend. Sorry i never have a bias to PA, i just play by my rules follow the current trend and get out when it change. It has been a while since i have done this but here it go.

The year on PA with MA 1 year, 6 month and 3 month on a 4hr chart and this chart PA as broken the year MA from January 13 and have stay above the 1 year MA since(Blue Line MA) to add to it it as also stay above the 6 month MA(White Line MA) with rejection,Note*** Japan...
What are the values of the MA's on this 4H chart please?

I have reconstructed them as 345, 690 and 1380. But what are your values?

Also your 1 Minute chart did not download properly, can you repeat it, please?

And: 12 MA on 1 Hour = 720 MA on 1 Minute, but 288 MA on 5 Minute = 24 MA on 1 Hour, not on 4 Hour as I understood it needed to be for your system.
  • #472,151
  • Edited Jun 26, 2011 12:17am Jun 25, 2011 11:37pm | Edited Jun 26, 2011 12:17am
Quoting Chicky
Let's bookmark this page
Thanks , no doubt there remain serious pressure down to 3921,3854 to 3722 to 3569.
gu remain strong possible breakout down towards 1.5344 & gold 1469-42 .

anyway all they need break this present low & hold ,eu carrying little hope to change bo 4124 support & hold to breaks 4070 confirm & bounces can be expected , gu just break & hold only 1.5931 & gold did the job at 1510.64 yet another take at 1493.63, may be seen next week if do or die.

usdx at top but again breakout already big channel marginally & can take advantages of the pullback with breaks 76.01 & 35 to limit level 76.85 to not hold type limit this time then real pullback 77.36-78.** & if so why not not more 78.10.

while usdchf in an ever ending bear consider a little bounce for usd to do some action at this present level without any fall further & before reach a great level to consider a bottom or a bounce 0.7965.
fontu
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #472,152
  • Jun 25, 2011 11:40pm Jun 25, 2011 11:40pm
Quoting CapitalismPr
How about these apples?
that what i keep saying. and sure its true. but the market can stay irrational longer then your account can. but now we have a bearish piercing month.. a red engulfed week and day.. on the edge of.. b/o ... sure anything can happen. a b/o or a b.o rejection. even if it does b/o in the bearish direction. it may take several tries. momentum will be needed. so a bounce can never be overlooked. some dumb ass put 4201 up in a post for a reason
those who can, do. those who cant, talk about those who can
  • #472,153
  • Jun 25, 2011 11:44pm Jun 25, 2011 11:44pm
I say this with no intended disrespect, but...would that dumb ass be you?
Si vis pacem, para bellum.
  • #472,154
  • Jun 25, 2011 11:48pm Jun 25, 2011 11:48pm
Quoting Astroman
Or will attention focus to Ireland first?
what about Italy? their banks will fail with the Greeks. but so will France.. its all connected.
those who can, do. those who cant, talk about those who can
  • #472,155
  • Jun 26, 2011 12:04am Jun 26, 2011 12:04am
Quoting Duce
I say this with no intended disrespect, but...would that dumb ass be you?
maybe.. but it didn't close as planned. so if wrong we will be attracted to 4212. but my pattern is still in play. usually good for a high % w/o a close. but we have closed now. target was 4077 .. a bold target since we haven't got that low yet. sl was about 3 pips.. where 3 pips was 1/3 %... 9= 1%... lets c what Sunday does. it may hit 4212 then to 408x.. the # was posted Friday. just gonna look read hard at it and make the decision then..
those who can, do. those who cant, talk about those who can
  • #472,156
  • Jun 26, 2011 12:07am Jun 26, 2011 12:07am
Quoting gatorinla
hmmm 2 humper.. looking for a scalp s at 4201 area, then 4077 area. depending on entry.. sl will reflect the r.r.. of the unknown risk verses the 130 pip reward. hopefully 1 to 42 r/r
questionable now.
those who can, do. those who cant, talk about those who can
  • #472,157
  • Jun 26, 2011 12:10am Jun 26, 2011 12:10am
later... good luck
those who can, do. those who cant, talk about those who can
  • #472,158
  • Jun 26, 2011 12:10am Jun 26, 2011 12:10am
Quoting fontu
Thanks , no doubt there remain serious pressure down .......
Its not a matter of "If" but "when".

Cannot lose a single dime sitting and watching even if it goes higher before breaking 1.4000 in a 300/400 pip move and stays below.

My chart says that it has already started from 1.4306.
The Thief of Wall Street
  • #472,159
  • Jun 26, 2011 12:13am Jun 26, 2011 12:13am
Quoting gatorinla
maybe.. but it didn't close as planned. so if wrong we will be attracted to 4212. but my pattern is still in play. usually good for a high % w/o a close. but we have closed now. target was 4077 .. a bold target since we haven't got that low yet. sl was about 3 pips.. where 3 pips was 1/3 %... 9= 1%... lets c what Sunday does. it may hit 4212 then to 408x.. the # was posted Friday. just gonna look read hard at it and make the decision then..
Hey Gator I agreed with your thoughts..
but I am thinking maybe we will go down straightly after market starts at Wellington..
we may test as u said 4077 level....then maybe a bounce..then further down...
Patience, Emotion Control and Discipline.
  • #472,160
  • Jun 26, 2011 12:31am Jun 26, 2011 12:31am
Quoting Chicky
Its not a matter of "If" but "when".

Cannot lose a single dime sitting and watching even if it goes higher before breaking 1.4000 in a 300/400 pip move and stays below.

My chart says that it has already started from 1.4306.
True , may be started or not at all . The whole bear can be treated as anti-trend/pullback , an unreliable move to d turning point , smaller to none to big before resume , what? the bull .

check usdx chart , price at top big down channel , breaks marginally the spikes & not hold yet & here also if break this channel upside should easily limited by previous wave pattern or even if not LTL there & some more piercing force for some up all ok before resume the bear.

anyway expecting this week or if no big bounces again then by 1-2 days get the confirmation for more still unreliable down continue or not . to me just time passing price around these levels before all quite on in the western front with big news ( need for this effervescent bear now ) or big failure to GO . staying out if no loss intended will be best option with start of the week.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
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