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  • #543,041
  • Sep 24, 2011 12:25pm Sep 24, 2011 12:25pm
Quoting dantheman
On a side note, does anyone trade the 7 - 8 am GMT candle,

I've noticed that it tends to have a decent move both up and down most days, was thinking provided you had your finger on the close button, soon as you see a gain, you could do consistent pips, not much mind, just click, wait for some profit and close.

Anyone tried?

Dan
Well now. Frankfurt at 6-8.00 gmt will usually give you a break up or down. Carefull at around 6.30 gmt 'cos Frankfurt starts giving way to London. Have you heard of Frankie Fake ?. If not Google...
Best played on M5 imho.
I potty trained on Frankie and LO on M5...i therefore recommend . I found it more fun and educational than playing with lego, H1, playdo or sitting on a potty. But ...thats just me.
All systems of divination, like music itself,work through patterns.
  • #543,042
  • Sep 24, 2011 12:25pm Sep 24, 2011 12:25pm
http://www.freesmileys.org/smileys/s...fc/popcorn.gif
  • #543,043
  • Sep 24, 2011 12:35pm Sep 24, 2011 12:35pm
Quoting kenfen69
Ooooooh...I might be able to bring my old "sock puppet" gag out. Been a while!
http://ts1.mm.bing.net/images/thumbn...ppet.thumb.jpg
  • #543,044
  • Sep 24, 2011 1:46pm Sep 24, 2011 1:46pm
Quoting Chillypiper
http://ts1.mm.bing.net/images/thumbn...ppet.thumb.jpg
Hahahaha...

Steady! You do NOT want to see him stick his tongue out!
  • #543,045
  • Sep 24, 2011 1:56pm Sep 24, 2011 1:56pm
imf news conference -- abysmal ! leverage up and dump euro Monday ?
  • #543,046
  • Sep 24, 2011 2:16pm Sep 24, 2011 2:16pm
Quoting free4440273
imf news conference -- abysmal ! leverage up and dump euro Monday ?
The conference was very

Tomorrow i'll review the week and if no positive information comes out before opening i'll probably intensify my short positions. Next week will be an interesting one for the euro.
  • #543,047
  • Sep 24, 2011 2:22pm Sep 24, 2011 2:22pm
Enjoy the read and get ready to see the markets continue to spiral downwards.

http://www.imf.org/external/np/sec/pr/2011/pr11348.htm
Those who say it cannot be done should not interrupt those who are doing it
  • #543,048
  • Sep 24, 2011 2:41pm Sep 24, 2011 2:41pm
Still in the bullish channel , but i think it will break it soon , it's also standing on the February major support level and doji was formed in D1 time frame, so look out .
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  • #543,049
  • Sep 24, 2011 2:53pm Sep 24, 2011 2:53pm
Quoting PipTrapper
Enjoy the read and get ready to see the markets continue to spiral downwards.

http://www.imf.org/external/np/sec/pr/2011/pr11348.htm

Yeah and after gloomy speech of Trichet - spiral will accelerate. I'm curios If they'll let Greece to default in the very near future or not.

Things right now - Merkel to Greece - Do what we ask you and if Greece defaults it hurt tons of EU political rating and things switch to Italy - and is very hard to reform Italy with their huge debt - A domino effect will come.

We shall see, I'm just thinking out loud on my keyboard
  • #543,050
  • Sep 24, 2011 3:13pm Sep 24, 2011 3:13pm
Speeches, defaults, G-whutever meetings...

It's all bullshit...you know it, I know it, the people that are involved know it, but they gotta justify their existance somehow...

Let's for a second forget about what these assholes are spouting and have a good solid look at the techs.

Now, bear with me (heh, bear), for a sec and have a look at the chart I am posting. This area shaded in green and the span of that chart is 1 year. No, not the traditional yearly chart starting on the first of the January and moving on through to the 31st of December, but is a solid chart year. This entire year or if it was a Yearly Candle would show a solid northern spike, with a touch of sells, but overall, a year of being long and strong.

Now, capped on this bitch and the red side of the chart is a retrace, but how much of a retrace? Really how would this or should this be technically gauged? Fibbed...print the chart out and fold it in half. Take the top of the chart and the bottom of the chart, subtract and divide by 2, what's that leave you with? Should give you an idea that we have retraced 50% of the yearly buy candle.

Why is that significant?
If this candle was an hourly and the ticks in side minutes, where would you look for support?

You tell me...

Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #543,051
  • Sep 24, 2011 3:23pm Sep 24, 2011 3:23pm
Quoting Magix
Why is that significant?
If this candle was an hourly and the ticks in side minutes, where would you look for support?
Another masterpiece, Mag!

Inneresting how we're right on the 50 when the fundies are at a level of MAJOR significance. Technically...I would lay down right here heading north...at least for a scalp...but I don't scalp daily candles!

Of all the problems that are going on world wide, though...I can't name ONE that has gotten any better. The possible outcome just seems to get more and more grim. If there was ever a time where fundamentals may trump techs...I feel we're at one. There's surely been many other times, too...but this is a good one!
  • #543,052
  • Sep 24, 2011 3:23pm Sep 24, 2011 3:23pm
Good point bro, but I think such upward move should correct huge and dip below 0.618%
  • #543,053
  • Edited 4:05pm Sep 24, 2011 3:39pm | Edited 4:05pm
Good overview as usual Mr Magix, I too try not to.And use persecutive as to what the chart and candle pattern it telling you and leave the BS to the forked tongue ones with there doom and gloom, although some can make ya many pips when they open ther traps.

Heres my weekly that I thinks what your view is also, although I am still to the med-tum bearish side and looking to take more shorts in the 3625-50 area

Cheers!

Quoting Magix
Speeches, defaults, G-whutever meetings...

It's all bullshit...you know it, I know it, the people that are involved know it, but they gotta justify their existance somehow...

Let's for a second forget about what these assholes are spouting and have a good solid look at the techs.

Now, bear with me (heh, bear), for a sec and have a look at the chart I am posting. This area shaded in green and the span of that chart is 1 year. No, not the traditional yearly chart starting on the first of the January and moving on through to the 31st of December,...
Attached Image (click to enlarge)
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  • #543,054
  • Sep 24, 2011 3:46pm Sep 24, 2011 3:46pm
Quoting Chillypiper
Good overview as usual Mr Magix, I too try not to persecutive as to what the chart and candle pattern it telling you and leave the BS to the forked tongue ones with there doom and gloom, although some can make ya many pips when they open ther traps.

Heres my weekly that I thinks what your view is also although I am still to the med-tum bearish side and looking to take more shorts in the 3625-50 area

Cheers!
Vouched Chilly, great answer and good job taking the rest of the chart into the immediate perspective!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #543,055
  • Sep 24, 2011 3:47pm Sep 24, 2011 3:47pm
Bunch of signals show to go long , like i said before , daily major support from February , weekly trendline , divergence daily and weekly , candles etc etc , can't wait to go long
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  • #543,056
  • Sep 24, 2011 3:50pm Sep 24, 2011 3:50pm
Current Long legged Doji show market indecision with close at 50% of previous candle also..
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  • #543,057
  • Sep 24, 2011 3:53pm Sep 24, 2011 3:53pm
Dang Man I never would have thought...I and very honored sir!

Quoting Magix
Vouched Chilly, great answer and good job taking the rest of the chart into the immediate perspective!
  • #543,058
  • Sep 24, 2011 5:23pm Sep 24, 2011 5:23pm
Magix, ChillyPiper and LeanLowFx,

For your sakes, I hope you're all correct on this one.

Here's my take on things.

Yes the Euro, despite having dropped over 1000 pips in the last 3 weeks, when you consider all the headwinds it is facing, has held up very well. However, this was only due to weakness in the USD which has since then turned around. Now China has all but abandoned buying up Euros as opposed to Dollars. No they are not buying up Dollars but they've stopped buying Euros. (Result: Euro Negative)

The Equity markets have been out of wack for the last 4 months and are in total chaos. Fundamentally over the last few years, when the equity indices rise, all risk currencies (including the Euro) rise against the USD. Therefore, in the larger TFs (Daily, Weekly, Monthly), you tend to see some correlation between the euro and the SP500. Now look at the daily chart on the SP500 and tell me what you see. That's right. It's a bear flag. (Result: SP500 Negative. ergo Euro negative).

These are pretty well unprecedented times we are in. If there is any precedence for what we are seeing now, it is the Lehman Brothers failure.
The entire global economy is on standby because of Europe. The Euro has been stable because of the ECB's hawkish stance and refusal to participate in any quantitative easing. On the contrary, they have tightened by increasing the rates by 0.5% this year. Now they have no choice but to reverse that rate hike in order to re-stimulate the economy and they will have no choice but to print more Euros in order to stave off a banking crisis and credit freeze. (Result: Euro Negative)

One thing I have learned in all my years of trading is that no amount of trend lines will stop the price from gong where it has to when the fundamentals and sentiment are in full support of any such move. The technicals alone work quite well in the M5 charts up to H1 and the higher timeframes are also responsive to technicals in normal economic times. By my friends, these are not normal economic times by any stretch of the imagination.

My advice: Keep tight stops coz it's gonna be a wild ride.

Peace
Those who say it cannot be done should not interrupt those who are doing it
  • #543,059
  • Sep 24, 2011 5:33pm Sep 24, 2011 5:33pm
Quoting PipTrapper
Magix, ChillyPiper and LeanLowFx,

For your sakes, I hope you're all correct on this one.
While I would love to believe that "Nobody likes a kiss ass", a statement to hold some truth, I can see that apparently 2 people are of not the same mind.

We can't all be right moron.

I have suggested support, ergo going back into the bullish chan, while the others maintain their bearish perspective.

How can we all be right?

I am personally disgusted by your efforts without a chart and have ended reading your tripe after the first 2 lines. Though I applaud your efforts for being around for 3 years, I wonder why it took you 3 years to log into your identity...

Pshhhhhhhhhhhhhhh...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #543,060
  • Sep 24, 2011 5:39pm Sep 24, 2011 5:39pm
Quoting Magix
While I would love to believe that "Nobody likes a kiss ass", a statement to hold some truth, I can see that apparently 2 people are of not the same mind.

We can't all be right moron.

I have suggested support, ergo going back into the bullish chan, while the others maintain their bearish perspective.

How can we all be right?

I am personally disgusted by your efforts without a chart and have ended reading your tripe after the first 2 lines. Though I applaud your efforts for being around for 3 years, I wonder why it took you 3 years...
Do we have to have a directional bias, to make money? I do no think so.

mla
"The Heart is the hub of all dances; go there and chill out"
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