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  • #634,141
  • Apr 26, 2012 9:21am Apr 26, 2012 9:21am
Quoting atif089
Short at 3251
Why ? Is it because that is the figure cloggie threw out there earlier today.

I also love this forum
Over thinking over analyzing separates the body from the mind.
  • #634,142
  • Apr 26, 2012 9:23am Apr 26, 2012 9:23am
Quoting Pair-me-up
To those who have more experience than others and aren't here to scam us less experienced wanna be traders.....

What is the best way to manually calculate highly accurate Support and Resistance Levels? So, far I have gone over the charts and added up some points that were in a general vicinity along the time line sort of speak and then divided them to get an overall average, thus attempting to eliminate noise. I have come with in a pip fraction of the numbers 3231 and 3235 that were posted earlier..

Also, is it better to calculate S/R...
Higher time frame zoom all the way out and look. You'll see them
  • #634,143
  • Apr 26, 2012 9:24am Apr 26, 2012 9:24am
Quoting MiG123
bull has gone berserk...
Nope. Not that time. Bears got slaughtered...greets.
  • #634,144
  • Apr 26, 2012 9:24am Apr 26, 2012 9:24am
Quoting atif089
Just shorted at 3251.. TP 10 pips again
Was leaving for home so.. Closed manually at 3243..

7 pips.. Still.. Its my hourly pay here at work ;-)


later guys !!
Poker is for kids, I play FOREX.
  • #634,145
  • Apr 26, 2012 9:24am Apr 26, 2012 9:24am
Hello guys , any one can tell me why eur/usd up , although usa data is good ?

Pending Home Sales is rising high .. isn't this mean strong usa economy ? so strong dollars?

noob question
  • #634,146
  • Apr 26, 2012 9:25am Apr 26, 2012 9:25am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
You got your pips dude!!


Quoting ams
I know dude, already calculated...I am just taking the mickey...I hope you get your pips you are looking for! Above 3220 u might get more then you bargained for as we have dropped a bit today. So retrace to monthly pivot is due.
  • #634,147
  • Apr 26, 2012 9:26am Apr 26, 2012 9:26am
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-daily.gif Size: 24 KB
Click to Enlarge Name: eur-usd daily 04-26-12.gif Size: 22 KB
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #634,148
  • Apr 26, 2012 9:26am Apr 26, 2012 9:26am
Quoting Stretch
Ok. Well I put a pending at 3260, just in case I slept through it, but I am not confident enough yet for pendings. So sadly when I saw the momentum I cancelled pending and changed to 3273. Never got in the short, because I was convinced I could get a higher entry hahaha Giant facepalm.

What are you looking for, for a long entry? 3180/85?
3180 would be nice but it never made it there for now. It turned around on m15 ... Problem is the top is at 3260 now.. If I would be convinced it would make it through, I would look for a swing low on m15 because we already have a momentum bar towards the top on it, but I'm not convinced.. So I'm kind of sitting on my hands right now..

Edit: h4 still wants lower...
  • #634,149
  • Apr 26, 2012 9:26am Apr 26, 2012 9:26am
Quoting atif089
Was leaving for home so.. Closed manually at 3243..

7 pips.. Still.. Its my 30 mins of pay here it work ;-)


later guys !!
Good job ! Me, too. Stupidly had first position at 1.32432 :/ but paid off at all.
  • #634,150
  • Apr 26, 2012 9:27am Apr 26, 2012 9:27am
Hiting stops
  • #634,151
  • Apr 26, 2012 9:27am Apr 26, 2012 9:27am
Quoting Pair-me-up
To those who have more experience than others and aren't here to scam us less experienced wanna be traders.....

What is the best way to manually calculate highly accurate Support and Resistance Levels? So, far I have gone over the charts and added up some points that were in a general vicinity along the time line sort of speak and then divided them to get an overall average, thus attempting to eliminate noise. I have come with in a pip fraction of the numbers 3231 and 3235 that were posted earlier..

Also, is it better to calculate S/R levels...
Reliable S/R levels aren't necessarily to the pip. That's why you have found levels 'in a general vicinity' - that's the way it is. See them more as narrow zones that will help.
  • #634,152
  • Apr 26, 2012 9:27am Apr 26, 2012 9:27am
Quoting TraderBoyFF
Okay, the bearish H4 setup is invalidated.
Surely only invalidated if there is a close over that daily resistance.
  • #634,153
  • Apr 26, 2012 9:28am Apr 26, 2012 9:28am
come on turtles they are just holding the price there for some sleepyheads
  • #634,154
  • Apr 26, 2012 9:29am Apr 26, 2012 9:29am
Quoting 3stepsahead
Why ? Is it because that is the figure cloggie threw out there earlier today.

I also love this forum
Edited my original post. That was a very short term scalp :-) with 10 TP


Quoting atif089
Scalping is a part of my strategy. If you are trading for a long time you already know that the market never moves in a straight line.

For starters, if you look at a 5 mins chart after every 3-6 candle sticks you will see a candle in opposite direction. You will never see 10 big candlesticks going in same direction. That's not how it works.


I identifying lows and buying them and vice versa with highs is what I do. I was closely looking at charts before buying this.

http://i.imgur.com/WuGqj.jpg

I am not refuting to what cloggie...


if you have been following my posts,
I trade by identifying lows and buying them and identifying highs and selling them with very short term goal (usually under 10 pips)
Poker is for kids, I play FOREX.
  • #634,155
  • Apr 26, 2012 9:29am Apr 26, 2012 9:29am
Cloggie, on the H4 , doesn't the last three bars look suspect to you?

Hmmmmmmmmmm
It's the simple things in life that have the most powerful meaning.
  • #634,156
  • Apr 26, 2012 9:29am Apr 26, 2012 9:29am
and bang up baby!!!1-2-3 this is it !!!! come on
  • #634,157
  • Apr 26, 2012 9:31am Apr 26, 2012 9:31am
markets are crazy. that spike was due to a fresh QE3 rumor doing its rounds. just the same, usual words from bearnanke and markets go crazy over it like little kids clamouring for sweets at halloween...
  • #634,158
  • Apr 26, 2012 9:31am Apr 26, 2012 9:31am
Quoting goldenmember
Surely only invalidated if there is a close over that daily resistance.
not necessarily from candles stand point...a close above the midd of the bear one would do.. However, in a range candles mean jack shit.. So you have to look at other things..
  • #634,159
  • Apr 26, 2012 9:31am Apr 26, 2012 9:31am
WTF time thiz market is inzane
Price = the amount a greater fool is willing to pay!
  • #634,160
  • Apr 26, 2012 9:32am Apr 26, 2012 9:32am
And that's why you don't chase folks!
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