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  • #14,661
  • Dec 13, 2011 7:41am Dec 13, 2011 7:41am
Quoting TheSwede
Sorry but I dont see the double bottom.
It should look like a W with a close above.
..So you do not consider this as Double Bottom?
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  • #14,662
  • Dec 13, 2011 7:44am Dec 13, 2011 7:44am
Its a double bottom but not a confirmed one. Like I said earlier the confirmation requires a close (daily) above 1.425.

EDIT:So if you trade the daily you should first of all wait for the daily candle to close to see if the bottom holds and then wait for 1.425 to be breached. If trading any other time frame then thats another story.

Take a look at http://www.babypips.com/school/doubles.html

Quoting rekon67
..So you do not consider this as Double Bottom?
  • #14,663
  • Dec 13, 2011 7:50am Dec 13, 2011 7:50am
Quoting Tyoon
Really Cloggie has been suspended? ..
I suppose. I have just read the bin. And nubcake got suspended as well. Pretty funny conversation in there. Especially nubcake is very funny.

T
"I know one thing, that I know nothing." Sokrates
  • #14,664
  • Dec 13, 2011 7:52am Dec 13, 2011 7:52am
Quoting TheSwede
Its a double bottom but not a confirmed one. Like I said earlier the confirmation requires a close (daily) above 1.425.

EDIT:So if you trade the daily you should first of all wait for the daily candle to close to see if the bottom holds and then wait for 1.425 to be breached. If trading any other time frame then thats another story.

Take a look at http://www.babypips.com/school/doubles.html

Are u sure about the figure 1.425 ? ... Thx for the link though..
  • #14,665
  • Dec 13, 2011 7:54am Dec 13, 2011 7:54am
Yep it is. Wonder why "they" just don't try to learn from Cloggie instead.

Quoting Tom_D_Trader
I suppose. I have just read the bin. And nubcake got suspended as well. Pretty funny conversation in there. Especially nubcake is very funny.

T
  • #14,666
  • Dec 13, 2011 7:55am Dec 13, 2011 7:55am
No not exacly. Dont have a chart in front of me. Could be 1.424 or something like that. Keep up the good work (trading that is)

EDIT: Take a look at cloggies posts where there are attachements and you see how he trades double bottoms and tops (usually on M5)

Quoting rekon67
Are u sure about the figure 1.425 ? ... Thx for the link though..
  • #14,667
  • Dec 13, 2011 8:00am Dec 13, 2011 8:00am
Quoting Tom_D_Trader
I suppose. I have just read the bin. And nubcake got suspended as well. Pretty funny conversation in there. Especially nubcake is very funny.

T
Well at least cloggs is only on temp suspension.
  • #14,668
  • Dec 13, 2011 8:04am Dec 13, 2011 8:04am
Quoting TheSwede
Its a double bottom but not a confirmed one. Like I said earlier the confirmation requires a close (daily) above 1.425.

EDIT:So if you trade the daily you should first of all wait for the daily candle to close to see if the bottom holds and then wait for 1.425 to be breached. If trading any other time frame then thats another story.

Take a look at http://www.babypips.com/school/doubles.html
Hi Swede, I double-checked your link and I didn't see anything that contradicts reckon67s analysis.

With regard to whether or not its a confirmed double-bottom, isn't it true that only time will tell?

So if that is the case, isn't reckon67s' analysis reasonable until he is proven wrong.


thanks,

LP

ps. please if there is something blatantly obvious that I am missing, please point it out.
patience is a virtue
  • #14,669
  • Dec 13, 2011 8:04am Dec 13, 2011 8:04am
Quoting TheSwede
Yep it is. Wonder why "they" just don't try to learn from Cloggie instead.
There are some people who are just unable to listen. I am pretty arrogant, but I listen when someone uses good arguments. Some guys, like Incrediblle or Turveyd, dwell in their "wisdom" so deeply, that they are just simply unable to accept any other opinion no matter how good the arguments are. Turveyd is already on my ignore, since he isnt even funny. I enjoy reading Incrediblles posts a lot though. This guy is pretty funny with his absolute lack of competence and ability to listen.

T
"I know one thing, that I know nothing." Sokrates
  • #14,670
  • Dec 13, 2011 8:06am Dec 13, 2011 8:06am
Quoting lovepips
..
With regard to whether or not its a confirmed double-bottom, isn't it true that only time will tell?
..
That is The Universal Truth in FX market.
"I know one thing, that I know nothing." Sokrates
  • #14,671
  • Dec 13, 2011 8:08am Dec 13, 2011 8:08am
Hi PK, I can see you have arrived. I include my answer to your previous question so you dont need to come through all that BS I am posting.

T

Quoting Tom_D_Trader
Err, I may be using the term flat in a wrong manner. When I say I am flat I mean I dont enter any new positions.

I was still holding four shorts from "short like a moron" times . And I still hold three more. 2x 3767 + 1x3843. 3843 is my "Lucky". I aint closing this one, untill we hit the bottom.

T
"I know one thing, that I know nothing." Sokrates
  • #14,672
  • Dec 13, 2011 8:08am Dec 13, 2011 8:08am
Ok to be clear: Its not a double bottom until we have a close above the 1.425 area. If you want to take a long here on a maybe to be double bottom then thats up to you. But I assure you the odds are not good.

EDIT:I'll make some pics on this when I'm on my way home.

Quoting lovepips
Hi Swede, I double-checked your link and I didn't see anything that contradicts reckon67s analysis.

With regard to whether or not its a confirmed double-bottom, isn't it true that only time will tell?

So if that is the case, isn't reckon67s' analysis reasonable until he is proven wrong.


thanks,

LP

ps. please if there is something blatantly obvious that I am missing, please point it out.
  • #14,673
  • Dec 13, 2011 8:09am Dec 13, 2011 8:09am
Daily futures are slightly "risk on" to undecided with the US stock markets expected to open slightly higher this morning, currencies exept AUD and NZD flat, gold and copper pretty much flat and oil slightly higher.
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On the daily E$ chart - Yesterdays candle was extremely bearish with close below trendline support, price has broken above it today but has been unable to stay above this line so far. Price is currently in a demand level break below important support at 1.3145 could send us much lower quickly.
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The DJIA and S&P 500 have bounce off daily supply and are consolidating in a big wedge pattern.
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The US dollar index is in a supply zone and close to daily trend line resistance.
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I don't care which way the market is going as long as it's going my way
  • #14,674
  • Dec 13, 2011 8:10am Dec 13, 2011 8:10am
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If there was easy money lying around,no one would be forcing it into your
  • #14,675
  • Dec 13, 2011 8:13am Dec 13, 2011 8:13am
Quoting Tom_D_Trader
There are some people who are just unable to listen. I am pretty arrogant, but I listen when someone uses good arguments. Some guys, like Incrediblle or Turveyd, dwell in their "wisdom" so deeply, that they are just simply unable to accept any other opinion no matter how good the arguments are. Turveyd is already on my ignore, since he isnt even funny. I enjoy reading Incrediblles posts a lot though. This guy is pretty funny with his absolute lack of competence and ability to listen.

T
I feel like I'm missing out, I haven't read any posts from Incredible or Turveyd. Can you suggest any particular posts from Incredible that are particularly worth reading?

thanks Tom

LP
patience is a virtue
  • #14,676
  • Dec 13, 2011 8:14am Dec 13, 2011 8:14am
Quoting Tom_D_Trader
Hi PK, I can see you have arrived. I include my answer to your previous question so you dont need to come through all that BS I am posting.

T

LOL, Good morning Tom. Nice entries, thanks for making my life easier this morning because I haven't even had my Mocha fix yet this morning.

I had trouble getting to sleep last night and then over slept this mornng. Had to push a bit to do what I promised last night but I got it done... barely.
I don't care which way the market is going as long as it's going my way
  • #14,677
  • Dec 13, 2011 8:16am Dec 13, 2011 8:16am
Quoting TheSwede
Ok to be clear: Its not a double bottom until we have a close above the 1.425 area. If you want to take a long here on a maybe to be double bottom then thats up to you. But I assure you the odds are not good.

EDIT:I'll make some pics on this when I'm on my way home.
thanks Swede - I look forward to the pics :-)
patience is a virtue
  • #14,678
  • Dec 13, 2011 8:19am Dec 13, 2011 8:19am
Quoting lovepips
I feel like I'm missing out, I haven't read any posts from Incredible or Turveyd. Can you suggest any particular posts from Incredible that are particularly worth reading?

thanks Tom

LP
Muachachaa. All of them. This guy is priceless. For example month ago, he posted: "Europe have solved their issue. I am long on internacional stocks and markets.". That was about the time EUR/USD was around 1,42. Right after he posted it equities tanked most in 70 years . That guy is awesome. He had trade explorer (utility from FF which enables everyone to see how you are trading) and was constantly in loss, clearly overleveraged and kept challenging everyone around to compete him who is better trader. Just priceless. Wait untill he comes back from suspendation. I am pretty sure he wont stop with it as he is very self confident.

edit: btw, his nick has 2xl - Incrediblle. Try to check it.

T
"I know one thing, that I know nothing." Sokrates
  • #14,679
  • Dec 13, 2011 8:23am Dec 13, 2011 8:23am
Quoting PipKiller
LOL, Good morning Tom. Nice entries, thanks for making my life easier this morning because I haven't even had my Mocha fix yet this morning...
Ok, to make it even more easier. There goes rumour around FF, that POBC is prepared to lower RRR of another 100bp. That would be significant bullish event. And Bloomberg is rumouring, that Bernie is going to increase IR, which is nonscence imo.

T
"I know one thing, that I know nothing." Sokrates
  • #14,680
  • Dec 13, 2011 8:29am Dec 13, 2011 8:29am
Quoting Tom_D_Trader
Muachachaa. All of them. This guy is priceless. For example month ago, he posted: "Europe have solved their issue. I am long on internacional stocks and markets.". That was about the time EUR/USD was around 1,42. Right after he posted it equities tanked most in 70 years . That guy is awesome. He had trade explorer (utility from FF which enables everyone to see how you are trading) and was constantly in loss, clearly overleveraged and kept challenging everyone around to compete him who is better trader. Just priceless. Wait untill he comes back...
ok that sounds pretty funny... I'll check out some of his posts during my break in 5 mins

thanks Tom
patience is a virtue
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