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  • #499,901
  • Jul 26, 2011 7:58am Jul 26, 2011 7:58am
Quoting fx111
A falling wedge broken.

Attachment
You may have a wedge but I have a down channel which it seems to be following quite nicely if the bounce off 4500 pans out.
  • #499,902
  • Jul 26, 2011 8:00am Jul 26, 2011 8:00am
Did not see it going up after the news.... trying another short @ 4499 SL above the high, hopefully it won`t make a new one....

Leaving TP open, depends on S&p and what other news we get i guess.
  • #499,903
  • Jul 26, 2011 8:00am Jul 26, 2011 8:00am
Quoting gatorinla
i know.. i had a successful trade.. i got in for a reason and out for the same reason. if i mix things up.. i will fu.
I told you yesterday, I can't do this. I totally suck at entries so then I lower my trade and hold through DDs if I think target is still reachable.
  • #499,904
  • Jul 26, 2011 8:01am Jul 26, 2011 8:01am
I have 1.4505 as weekly res.
strong rejection at 1.4501. i am waiting for retest before going short on this. SL 1.4527
Quoting attila
I might start looking for shorts soon, despite this run.
  • #499,905
  • Jul 26, 2011 8:02am Jul 26, 2011 8:02am
Quoting FishHead
You may have a wedge but I have a down channel which it seems to be following quite nicely if the bounce off 4500 pans out.
My TG is 4515/20.
  • #499,906
  • Jul 26, 2011 8:02am Jul 26, 2011 8:02am
Inserted Video
  • #499,907
  • Jul 26, 2011 8:03am Jul 26, 2011 8:03am
Quoting attila
I told you yesterday, I can't do this. I totally suck at entries so then I lower my trade and hold through DDs if I think target is still reachable.
ill wait for 4528... busting 92 gave it back to the bulls..in my way of thinking.
those who can, do. those who cant, talk about those who can
  • #499,908
  • Jul 26, 2011 8:10am Jul 26, 2011 8:10am
Quoting BrunargarFx
I have 1.4505 as weekly res.
strong rejection at 1.4501. i am waiting for retest before going short on this. SL 1.4527
sorry not shorts in that sense. techs on daily show 4570 very possible, then we'll see for longer terms.
  • #499,909
  • Jul 26, 2011 8:11am Jul 26, 2011 8:11am
4534ish will be tough
Disclaimer: Check your 1m charts
  • #499,910
  • Jul 26, 2011 8:11am Jul 26, 2011 8:11am
Added another short 05, let's see how this goes.
  • #499,911
  • Jul 26, 2011 8:12am Jul 26, 2011 8:12am
stopped out of my short
rat
  • #499,912
  • Jul 26, 2011 8:13am Jul 26, 2011 8:13am
Yes, didn't like the Pa either.
It's on its way up.
If 1.4525 does not stop it, we still have 1.455.
Any daily close above 1.45, we may well see 1.46 and above...


Quoting attila
sorry not shorts in that sense. techs on daily show 4570 very possible, then we'll see for longer terms.
  • #499,913
  • Jul 26, 2011 8:13am Jul 26, 2011 8:13am
Quoting pipper
4534ish will be tough
Have 4540'ish as well. Would love to see a close above it. May be a bit extended for today though.
  • #499,914
  • Jul 26, 2011 8:13am Jul 26, 2011 8:13am
long @4503 S/L 4495
  • #499,915
  • Jul 26, 2011 8:14am Jul 26, 2011 8:14am
If I look at my magic chart it gets even scarier... 4724. However, the clowns in Washington will make a deal, and that might not be reached any time soon. But if they don't, watch out...
  • #499,916
  • Jul 26, 2011 8:15am Jul 26, 2011 8:15am
dollar index is good support, surprisingly it hasn't bounced much off it...
Trade what you see, not what you think!
  • #499,917
  • Jul 26, 2011 8:15am Jul 26, 2011 8:15am
Quoting cloggie
That 65 rejection of that earlier trade setup is now putting 4524 in the picture here.
Indeed very possible. I'm still trying to figure out what exactly caused this last run, because the shorts before did not finish... Who knows....

I see oil is back to where it started....
  • #499,918
  • Jul 26, 2011 8:16am Jul 26, 2011 8:16am
Quoting walb99
404 traders are following this thread
and the posters talk most of the time going short in a bull market
does this make sense for anybody?
That's what makes a market...so yes, it makes perfect sense.

Just be glad there are counter-parties to your trades. You gotta take somebody's money.
  • #499,919
  • Jul 26, 2011 8:19am Jul 26, 2011 8:19am
Quoting kenfen69
That's what makes a market...so yes, it makes perfect sense.

Just be glad there are counter-parties to your trades. You gotta take somebody's money.

Nothing wrong with that intraday counter earlier, plenty here made some good money of it. Price never moves in a straight line. PtL, Piters, Gator and I made some decent dosh of that one. Would I short this for another counter right here, right now? No, but that's another story.....

London has only given us a lousy 60 pip move, Asia had all the fun. The open was a pretty straight forward profit taking, as I posted earlier today, and in my book that is not really a counter trade, just a basic simple London setup. It consolidated and the yanks are now driving this to a new high at the London close.

Will we see another decent shorting/counter opportunity later today, yeah probably. When it comes along I will not hesitate to trade it again, unless it is only a reposition for a further move up. That's what differentiate the average retailer countering an intraday trend from a proper daytrader. Knowing what is only a counter, to what is a decent intraday retrace.
  • #499,920
  • Jul 26, 2011 8:20am Jul 26, 2011 8:20am
Quoting OMGtrader
dollar index is good support, surprisingly it hasn't bounced much off it...
Buckle up Dorothy cause Kansas is going bye bye...
Founder of Sutherland Wave Principle
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