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EURUSD

  • #675,581
  • Aug 5, 2012 8:05pm Aug 5, 2012 8:05pm
Bear trap, huh!!

A bear with curly horns maybe.
  • #675,582
  • Aug 5, 2012 8:08pm Aug 5, 2012 8:08pm
Quoting SunTrader
Bear trap, huh!!

A bear with curly horns maybe.
it really looks like a trap.
guys buy up to 1.2445 then sells progressively to dumb players. Hence the slow come back to current level...

Reminds me of market manipulation in 1920's.... Guys used to group to prop up the market, waiting for a relay from the ordinary people, then selling progressively as they come, exiting, and waiting for the guys to be exhausted = market fall.
  • #675,583
  • Aug 5, 2012 8:09pm Aug 5, 2012 8:09pm
Quoting divak
it really looks like a trap.
guys buy up to 1.2445 then sells progressively to dumb players. Hence the slow come back to current level...

Reminds me of market manipulation in 1920's.... Guys used to group to prop up the market, waiting for a relay from the ordinary people, then selling progressively as they come, exiting, and waiting for the guys to be exhausted = market fall.
IT'S A TRAP!
  • #675,584
  • Aug 5, 2012 8:11pm Aug 5, 2012 8:11pm
Quoting tomspin
So how you can determine weakness-loosing momentum and reverse in price direction then?
It is funny how people underestimate candles, what else is there?
I agree Candles, when read correctly, are a great tool

But there are so many other charts that can work just as well, if not better.

Bar charts, Renko, 3 line break, Point and Figure to name a few..

But as with any tool, its weakness is always with the user.
  • #675,585
  • Aug 5, 2012 8:11pm Aug 5, 2012 8:11pm
Quoting Inphi
IT'S A TRAP!
haha great video.
Will print a screenshot of the guy when he says "it's a trap" and stick in above my laptop... "something to remember"
  • #675,586
  • Aug 5, 2012 8:12pm Aug 5, 2012 8:12pm
Quoting almo
I agree Candles, when read correctly, are a great tool

But there are so many other charts that can work just as well, if not better.

Bar charts, Renko, 3 line break, Point and Figure to name a few..

But as with any tool, its weakness is always with the user.
Agree. As with any tool or indicators, if you want to understand the output, you have to know what's the input.

Garbage in, garbage out.
  • #675,587
  • Aug 5, 2012 8:13pm Aug 5, 2012 8:13pm
Forgot to say

"To 1.24xx...and Beyond!"
  • #675,588
  • Aug 5, 2012 8:13pm Aug 5, 2012 8:13pm
http://www.image-upload.net/di/S856/333s.png

More like this... for this week.
  • #675,589
  • Aug 5, 2012 8:19pm Aug 5, 2012 8:19pm
Quoting divak
...Reminds me of market manipulation in 1920's.....
Reminds of Friday and Thursday and ......

It is called how the markets move 101.

They move when the weak get trapped and have to cover short or have to exit long. Otherwise price stays in a range until the trap is set again.
  • #675,590
  • Aug 5, 2012 8:21pm Aug 5, 2012 8:21pm
short @ 1.2413
sl @ 1.2442 (will change it to BE +3)
tp @ 1.2287
Time turns trend. - W.D. Gann
  • #675,591
  • Aug 5, 2012 8:22pm Aug 5, 2012 8:22pm
Inception: Just when you think the trap is actually a trap.
  • #675,592
  • Aug 5, 2012 8:24pm Aug 5, 2012 8:24pm
30 pips secured on my short from 1.2435
New voice message: Why are you calling me? If I need you, I'll call you!
  • #675,593
  • Aug 5, 2012 8:25pm Aug 5, 2012 8:25pm
Quoting ForExtraPips
short @ 1.2413
sl @ 1.2442 (will change it to BE +3)
tp @ 1.2287
same here
  • #675,594
  • Aug 5, 2012 8:30pm Aug 5, 2012 8:30pm
sup' fellow gamblers?
  • #675,595
  • Aug 5, 2012 8:35pm Aug 5, 2012 8:35pm
Quoting KillerWhale
30 pips secured on my short from 1.2435
And out for 40 pips
New voice message: Why are you calling me? If I need you, I'll call you!
  • #675,596
  • Aug 5, 2012 8:39pm Aug 5, 2012 8:39pm
Second uptrend system (green lines) develops, showing continued upward momentum...

Attached Image (click to enlarge)
Click to Enlarge Name: cht.JPG Size: 105 KB


...strengthens notion that completed Elliot impulse just seen is wave 1 of much larger wave leading to 2700+ - also consistent with break and continuation of large head and shoulders pattern. (http://www.forexfactory.com/showthre...54#post5904554)


Quoting KillerWhale
And out for 40 pips
WOW! caught the top of wave 5!

Was that intentional?
  • #675,597
  • Aug 5, 2012 8:39pm Aug 5, 2012 8:39pm
Quoting KillerWhale
And out for 40 pips
i wonder, did u start FX trading with small account or bigger one?
i heard of people here starting as low as 150 USD but i dont see the point. If you want make it snowballing, it takes you so long....

Just out of curiosity.
  • #675,598
  • Aug 5, 2012 8:41pm Aug 5, 2012 8:41pm
Quoting RWalker
Second uptrend system (green lines) develops, showing continued upward momentum...

Attachment

...strengthens notion that completed Elliot impulse just seen is wave 1 of much larger wave leading to 2700+ - also consistent with break and continuation of large head and shoulders pattern.
Let's see
  • #675,599
  • Aug 5, 2012 8:42pm Aug 5, 2012 8:42pm
Quoting divak
i wonder, did u start FX trading with small account or bigger one?
i heard of people here starting as low as 150 USD but i dont see the point. If you want make it snowballing, it takes you so long....

Just out of curiosity.
40 pips per day is good enough to live the good life.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #675,600
  • Aug 5, 2012 8:44pm Aug 5, 2012 8:44pm
first short must be completed to go long again.
Im looking at 61.8 at least fibo before any uptrend resume.. we might hit 1.27 this week!
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