well, to fibonacci lovers like me and you, i instead use expansions.
im thinking 4000 in strong confidence, and i have a chart with expansions and supply levels to look out for.
I honestly believe that there is too much bullish momentum to cause a stall then drop. if its even a drop, its probably a retracement of the bullish force.
2nd chart is gann chart and dont look so confused just look at horizontal lines as lines of support resistance.
3rd chart is gann master chart. again, just look at them as trendlines that can gauge support...
Buma,
Gann sure knew what he was doing, but you have to also consider that he is no longer around and I am sure he would not be depending on his theory in such current market conditions.
Today the market is being driven by politics, false hope and irrational psychology. No lines can predict what idiots will do.
Buma,
Gann sure knew what he was doing, but you have to also consider that he is no longer around and I am sure he would not be depending on his theory in such current market conditions.
Today the market is being driven by politics, false hope and irrational psychology. No lines can predict what idiots will do.
The market was not much different in Gann's time. History repeats itself and there are patterns/fractals and cycles, which don't change much over time.
You don't need to predict what politicians make/do to trade profitably. Fundumental analysis is good, but too many factors to consider/evaluate/discount.
Yesterday we had dollar positive news, but the dollar continued to slide regardless. Not much of explanation for that I guess.
Piptrapper i heard your short of 1000+ is gone to BE?! no trailing stop?! i would be like;"this is a dream.. yes its a dream... NO!!"
i hope you're fine from that loss of profit.
it shows ur potential PT, to gain that much in one trade and have disciplien
Where did you hear that? I took over 800 pips off the table since August. I don't see it as a 300 pip loss. I see it as an 800 pip gain
When one position trades, it is acceptable to gain 1100 pips and allow it to fade to 800 before you take the money off the table. Yes I could have taken the 1100 or so pips immediately but then it wouldn't be called position trading
... Yesterday we had dollar positive news, but the dollar continued to slide regardless. Not much of explanation for that I guess.
oh lol hahahah i thought 1000 went to breakeven or -1 i heard lol.
thats good i thought u lost it all
No that was just one additional position I had taken after I took all my profit.
Good point. In sports there's a saying: “They showed me ways to lose I never knew existed.”
Thanks for the thread PipTrapper.
phew...
we all bears dying.
time to change bias to not bullish, to not bearish,
but a bias ready to make profit and kill the market, not the other way around.
right PT?
Hi AlexC,
Thanks for your comments and welcome to EurAnalysis
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Looking forward to your future participation.
Cheers
PT
Actually there is a perfect fundamental explanation for that. Allow me to enlighten those who don't know, and it is not a theory. It is about how money flows.
The USD is somewhat of a safe haven currency.
In times of global economic uncertainty, money flows into US fixed income instruments from all over the world. That is dollar positive
When the global economy seems to be doing better, money flows back out from fixed income into equities and commodities all over the world. That is Dollar negative.
Right now we have a global economic...
My point simply is - as much as you think you are aware of fundies, watch Bloomberg 24/7 you can't really trade based on fundies, unless you trade for a hedge fund that runs proprietary quant models.
