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  • #550,681
  • Oct 15, 2011 4:21am Oct 15, 2011 4:21am
Quoting Gamaa
I see 1.4010-20 calling. The reason is that 1.4848 was strong resis. According to fib. Retr. And Euro crossed it like a walk in the park and we had a daily close above that level as well. We have G20 meeting and they will come up with statments that will releaf the markets. US markets closed high on Friday, the assian and european session will follow on Monday on a positive note which will give a boaster to the Euro. Next traget as per Fib should be 1.40 area. This area will be overbought zone. This is my view for next...


Hi Gamaa,

since I too believe, but out of Elliott Wave sight, that we might see one last pop up (maybe up to around 4038, more likely up to around 3916 to 3946), I might point you to the following message, which could poor cold water in our theory:


http://www.zerohedge.com/news/us-pou...lout-europeans
  • #550,682
  • Oct 15, 2011 4:51am Oct 15, 2011 4:51am
Quoting infinitus
Hi Aaron,

lately the risk on/risk off argumentation is very popular. But this is only true as it lasts.

Watch at Gold over the last weeks. It experienced its biggest drop right at the time when the USD gained strongly against the EUR and other currencies.

Food for thought.........

Exactly.
Use me as a contrarian indicator
  • #550,683
  • Oct 15, 2011 5:18am Oct 15, 2011 5:18am
Quoting Mantis
Hi everyone in FF...
Welcome,

This is indeed one of the best places to learn, if your mind is open and if you are able to identify incompetent traders and ignore them. There are loads of those here, beware.

T.
"I know one thing, that I know nothing." Sokrates
  • #550,684
  • Oct 15, 2011 5:24am Oct 15, 2011 5:24am
Quoting Tom_D_Trader
Welcome,

This is indeed one of the best places to learn, if your mind is open and if you are able to identify incompetent traders and ignore them. There are loads of those here, beware.

T.
Lol, if you really want to learn and make money in forex, there are a few things you can do:

1, go to babypips.com and learn.
2, stay away from forums like this one or just do the opposite from what is preached here.

That's the way to success
New voice message: Why are you calling me? If I need you, I'll call you!
  • #550,685
  • Oct 15, 2011 5:39am Oct 15, 2011 5:39am
Quoting Yuchen
When i decide to trade a long term, even though i assume the trend should carry for maybe couple weeks and i still want the market can go 200+ pips after one day and when i see it has a correction i am also nervous to worried about the trend will reverse. how do you solve this problem?
I solve it by separating entry to more entries and taking two/three levels of profit, depending on type of trend/correction. Fixed one has 30pips SL and 90 pips tp. Second one has TP at predicted top/bottom and SL one third of expected move (adjusted to current weekly resistances/pivots). With that opened trade, I am not trying to catch a 200 pip trend or so, thats too much for me, so when I see first correction on some minor timeframe, like 15m, i close. This way, I separate whole trendline into several waves (sick Elliot) and trade those waves. So I follow weekly trend, but I am doing only small daily trades in its direction.

So now, I was still in weekly sell mode as I was expecting this correction will end around 1,36x. And I wanted to short on H4 signals, yet no signal for shorting came .
But I consider this an end of a cycle starting 6.6.2010, so such high spikes may occur, people are nervous, blah, blah, blah.

T.
"I know one thing, that I know nothing." Sokrates
  • #550,686
  • Oct 15, 2011 5:41am Oct 15, 2011 5:41am
Quoting Tom_D_Trader
Welcome,

This is indeed one of the best places to learn, if your mind is open and if you are able to identify incompetent traders and ignore them. There are loads of those here, beware

T.
Thanks for the warning Tom_D_Trader ....
I will keep that in my mind also open my mind and always learning.
  • #550,687
  • Oct 15, 2011 5:43am Oct 15, 2011 5:43am
Quoting KillerWhale
That's the way to success
Maybe you misunderstood me. Thats the reason, why I choosed these words:
"opened mind" - mind able to analyze loads of informations and find the right ones.
"Ability to identify hoards of incompetent traders posting here" - I dont think this needs further explanation.

There are diamonds hiding in here, you just need to be smart enough to find em.

T.
"I know one thing, that I know nothing." Sokrates
  • #550,688
  • Oct 15, 2011 5:46am Oct 15, 2011 5:46am
Quoting Tom_D_Trader
Maybe you misunderstood me. Thats the reason, why I choosed these words:
"opened mind" - mind able to analyze loads of informations and find the right ones.
"Ability to identify hoards of incompetent traders posting here" - I dont think this needs further explanation.

There are diamonds hiding in here, you just need to be smart enough to find em.

T.
Tom, those diamonds you trying to look aint here. they are fake. Its not in any thread. the only true diamonds you seek is within yourself. you will find that you are the holy grail in trading, you are your diamond. no one else mate, not the system, not the money management, because they are all extracted from inside of us.

ive said this forever, but we are the holy grail.

just find the right key to open that door.

Have I got something on my face, SOLDIER?
  • #550,689
  • Oct 15, 2011 6:11am Oct 15, 2011 6:11am
Hi addicts
Just watched france play wales was crap game, biggy is tomorrow, AB v Aussie

Thought Id pop in and throw a few thoughts about eu for next week

I guess I should start with why and how I determine my entries, no mm rr news or anything like that, everyone to their own I think.

First I watch multiple pairs, not trade normally, just watch for their reaction to their own respective levels, wether they are in sync etc etc.

I was short scalping most of last week, did ok, probably wiser to just buy in retrospect, alas I just prefer sell, my trade plan is based on sell only.

Chart 1 My girls dancing 14 10 2011
We record all entries, and I would like to share some, agree they are retrospect, just good for learning:nerd:
All pairs we watch are sync pairs, whenever they come into sync, which can be quite often sometimes, they very good to help find entry
It is logical if 4 5 6 7 pairs are in sync, they "are" tracking similar, whilst this process is in progress, the key is to find the "order of reaction", they rarely move in absolute precision, so when 1pr reacts to her resist, then 2nd pr follow, then 3rd, and hold, there is good probability the next will follow "in sync" this process in reverse can assist with exits, however the full entry exit stratergy is too complex for here sorry

If this is boring just say I stop, just like peoples thoughts
Attached Image (click to enlarge)
Click to Enlarge Name: MY Girls Dancing in Sync 14 10 2011.png Size: 45 KB
If you are new to Forex? Say Goodbye to your account!!
  • #550,690
  • Oct 15, 2011 6:19am Oct 15, 2011 6:19am
Buma,

I agree with you, yet you dont know me. I am very theoretical guy. More of a philosopher, than trader. And trust me, I have read lots on the subject you just mentioned, from simple teaching books of a merchandise agent, through psychological profiles of traders in trading books to psychological books describing evolution of ego.
So philosopher, who found himself studying economics for 5 years.

Nice to meet you.

Tom
"I know one thing, that I know nothing." Sokrates
  • #550,691
  • Oct 15, 2011 7:01am Oct 15, 2011 7:01am
Quoting KiwiTrada
Hi addicts
Just watched france play wales was crap game, biggy is tomorrow, AB v Aussie

Thought Id pop in and throw a few thoughts about eu for next week

I guess I should start with why and how I determine my entries, no mm rr news or anything like that, everyone to their own I think.

First I watch multiple pairs, not trade normally, just watch for their reaction to their own respective levels, wether they are in sync etc etc.

I was short scalping most of last week, did ok, probably wiser to just buy in retrospect, alas I just prefer sell,...
looks like i got comptetion in the sniping business
Have I got something on my face, SOLDIER?
  • #550,692
  • Oct 15, 2011 7:02am Oct 15, 2011 7:02am
Quoting Tom_D_Trader
Buma,

I agree with you, yet you dont know me. I am very theoretical guy. More of a philosopher, than trader. And trust me, I have read lots on the subject you just mentioned, from simple teaching books of a merchandise agent, through psychological profiles of traders in trading books to psychological books describing evolution of ego.
So philosopher, who found himself studying economics for 5 years.

Nice to meet you.

Tom
to you too tom
hats off to you
Have I got something on my face, SOLDIER?
  • #550,693
  • Edited 12:40pm Oct 15, 2011 9:25am | Edited 12:40pm
Got life again perhaps , seeing eu still targetting 3936 ,3967/93 or more more having 3904 strong sr & pullback highere tf . range possible 3806 to 4096,4148 to 4220/7.so untill & unless otherwise happen to stick to those levels. price not fall below limit 1.3799 .Attain those levels or fail at any to correct towards 3370 to 3200 before up again .
usdx broken the limit down but still others to have a confirmation to more down & more in suspense that though broken limits it may continue more down or change course any time , so range increased > can't compare any level except top & bottom previous movements .
lets set what next week
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #550,694
  • Oct 15, 2011 10:41am Oct 15, 2011 10:41am
EUR/USD – Bias (W1): Bullish Reversal; Bias (D1): Bullish Reversal; Bias (Overall): Bullish Reversal

http://lcchong.files.wordpress.com/2...ng?w=837&h=381

http://lcchong.files.wordpress.com/2...ng?w=837&h=381
  • #550,695
  • Oct 15, 2011 12:02pm Oct 15, 2011 12:02pm
Not much of an analysis, I will post some wave statistics tomorrow. White box is 10 daily candles correction of a weekly trend. Simmilar corrections could be found at 5.5.2011 and 5.11.2010, both had minor retracement at this stage and continued, until final breakdown (@ 59% and 76%). I will consider ressistance at this zone as a confirmation of a weekly downtrend. This option is illustrated with dotted lines, while red beeing major and yellow minor.

T.
Attached Image (click to enlarge)
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"I know one thing, that I know nothing." Sokrates
  • #550,696
  • Oct 15, 2011 12:41pm Oct 15, 2011 12:41pm
I had a margin call this week ( i short 100 pip from the bottom think that the price would fall at that moment with a high amount of leverage, we all make mistakes I guess ) because of the rising. I continu to short, but now I realise that might be a bad Idea. On Canada, more and more people start talking about rally on wall street. Now, we also have rally on montreal. This movement is increasing day after day. How big could it reach.... no one know, but if the politican give what these protester what they want, the whole us economy system might collapse. maybe banks have realize this, and this why they start shorting the Dollar
  • #550,697
  • Oct 15, 2011 1:07pm Oct 15, 2011 1:07pm
Hello Fellow Traders, I thought those of you who are interested in Elliott Wave Analysis would find the attached charts interesting. Enjoy.
Attached Image(s) (click to enlarge)
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  • #550,698
  • Oct 15, 2011 1:45pm Oct 15, 2011 1:45pm
Quoting Link
I had a margin call this week ( i short 100 pip from the bottom think that the price would fall at that moment with a high amount of leverage, we all make mistakes I guess ) because of the rising. I continu to short, but now I realise that might be a bad Idea. On Canada, more and more people start talking about rally on wall street. Now, we also have rally on montreal. This movement is increasing day after day. How big could it reach.... no one know, but if the politican give what these protester what they want, the whole us economy system might...
One thing to always remember in currency market is that this market does not offer individual trading units unlike stock markets in which stocks of individual companies are the trading units. Out of hundreds and thousands of stocks traded on stock exchanges, our chosen stocks based on their strength, may go in our direction even defying general market trend because their demand maybe based on certain factors unique to such stocks and not others. Therefore any change or expected change in the factors affecting general market trend may or may not affect their price behavior.

Once said that, since currencies offer no individual trading units, a currency trader is exposed to general factors determining it's parity with other currencies. These factors are highly uncertain and can be influenced by the central banks. Therefore, currency market is a highly volatile market and no one on earth can speculate a currency's future direction based on factors moving them. Therefore, trading based on price behavior becomes more important than trading based on speculation.

Since we cannot speculate currency prices with any reasonable amount of accuracy, MARKET IS ALWAYS RIGHT.
The Thief of Wall Street
  • #550,699
  • Oct 15, 2011 2:19pm Oct 15, 2011 2:19pm
Quoting Wavetimes
Hello Fellow Traders, I thought those of you who are interested in Elliott Wave Analysis would find the attached charts interesting. Enjoy.
Good try , to me price looks wave 3 of 5th & when reach at those level there occurs suspecion of huge ranging not far away . anyway lets see what next , 3936 still not broken & even breaks to some extent does not warrenty it may hold long time after that .

So everything under huge suspense now & afteral a new week to start next , what seems may not any true!
checked gu & posted chart there with more suspecion & perhaps imminent bad signal for eu also.so applied eu 3799 & gu 5783 for next bear /correction confirmation , limits .possible huge ranging ahead IF.So virtually can't enjoy just with .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #550,700
  • Oct 15, 2011 4:31pm Oct 15, 2011 4:31pm
good evening forex crack addicts just a chart to share,simple to understand :]
Attached Image (click to enlarge)
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