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  • #685,841
  • Aug 29, 2012 12:27pm Aug 29, 2012 12:27pm
Quoting jezek5
What makes you think that longs are loading up
at this time of day?
its not the time of day that is important....its the bigger picture that is occurring that most everyone here does not see.


Weekly charts are showing that are returning close to the UTL - and it's not going to take too much to make it break past that point. Once that happens, look at the monthly charts - you'll start to see that its forming a base (ie going sideways).


What happens after that, is anyone's guess....
  • #685,842
  • Aug 29, 2012 12:29pm Aug 29, 2012 12:29pm
http://www.borsaat.com/vb/uploaded/4...1346261154.jpg
  • #685,843
  • Aug 29, 2012 12:30pm Aug 29, 2012 12:30pm
Quoting almo
its not the time of day that is important....its the bigger picture that is occurring that most everyone here does not see.


Weekly charts are showing that are returning close to the UTL - and it's not going to take too much to make it break past that point. Once that happens, look at the monthly charts - you'll start to see that its forming a base (ie going sideways).


What happens after that, is anyone's guess....
i love it when experienced traders give you answer but along with a trivia question Keep it up

amazing market today
  • #685,844
  • Aug 29, 2012 12:35pm Aug 29, 2012 12:35pm
Quoting fearlessnut
i love it when experienced traders give you answer but along with a trivia question Keep it up

amazing market today
Would you have preferred I said nothing?
  • #685,845
  • Aug 29, 2012 12:36pm Aug 29, 2012 12:36pm
What happens after that, is anyone's guess....[/quote]

or, the daily is nothing more then a descending triangle and normal pullback from the overall downtrend. keeping 1.2584 as a resistance.
  • #685,846
  • Aug 29, 2012 12:37pm Aug 29, 2012 12:37pm
Looking at the full day picture, its clearly downtrend....
  • #685,847
  • Aug 29, 2012 12:43pm Aug 29, 2012 12:43pm
Quoting almo
its not the time of day that is important....its the bigger picture that is occurring that most everyone here does not see.


Weekly charts are showing that are returning close to the UTL - and it's not going to take too much to make it break past that point. Once that happens, look at the monthly charts - you'll start to see that its forming a base (ie going sideways).


What happens after that, is anyone's guess....
Thanks for the answer,i'm not trying to be a twat,just a bit bored
and interested in how other traders see the market,here is a weekly chart,
which trend line are you aiming for?
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You can remain irrational longer than you can remain solvent.
  • #685,848
  • Aug 29, 2012 12:43pm Aug 29, 2012 12:43pm
Quoting divak
Looking at the full day picture, its clearly downtrend....
Yep..your right.....today is a down day.
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  • #685,849
  • Aug 29, 2012 12:46pm Aug 29, 2012 12:46pm
Quoting jezek5
Thanks for the answer,i'm not trying to be a twat,just a bit bored
and interested in how other traders see the market,here is a weekly chart,
which trend line are you aiming for?
Your purple line. It puts it in line to my analysis of reaching 1.27xx.
  • #685,850
  • Aug 29, 2012 12:46pm Aug 29, 2012 12:46pm
i fear the trend may change as Fed will disappoint... imho.
i said i many times already here, and betting on it too, imho there wont be any QE3...

today's GDP and home data is fair enough.
  • #685,851
  • Aug 29, 2012 12:49pm Aug 29, 2012 12:49pm
3 strong hourly bars up on the Dow,near overhead resistance now,
see how that plays out,Fiber didn't follow it at all,interesting to
see if it follows it down if we get a pullback on the dow.
You can remain irrational longer than you can remain solvent.
  • #685,852
  • Aug 29, 2012 12:51pm Aug 29, 2012 12:51pm
Quoting almo
Yep..your right.....today is a down day.
The weekly is undoubtedly up. But the daily has stalled. I would not take a long in expectation of the weekly going up more than it has already.

Most here take positions on the 15min and hourly. But, even if you are looking at the daily it is pointing down.
  • #685,853
  • Aug 29, 2012 12:52pm Aug 29, 2012 12:52pm
Quoting almo
Your purple line. It puts it in line to my analysis of reaching 1.27xx.

Cool,i see it going higher to but for me i would like to see it test 2400-2425 (the 50% pullback breakout level first)time will tell.
Good trading to you.
You can remain irrational longer than you can remain solvent.
  • #685,854
  • Aug 29, 2012 12:56pm Aug 29, 2012 12:56pm
Quoting jezek5
3 strong hourly bars up on the Dow,near overhead resistance now,
see how that plays out,Fiber didn't follow it at all,interesting to
see if it follows it down if we get a pullback on the dow.

Strangely the Aussie didn't follow it north either,summertime markets.
You can remain irrational longer than you can remain solvent.
  • #685,855
  • Aug 29, 2012 12:59pm Aug 29, 2012 12:59pm
Quoting klinckphilip
The weekly is undoubtedly up. But the daily has stalled. I would not take a long in expectation of the weekly going up more than it has already.

Most here take positions on the 15min and hourly. But, even if you are looking at the daily it is pointing down.
I think everything depends on how long your intending on holding.

I personally think we have a stronger chance of going up 200 pips, than down 200 pips. I'm willing to wait until I get my price, and continue to rinse/repeat my longs until we get there.


If your only looking at intraday, then yeah, it makes more sense to not go long while price continues to appear weak.

when you start looking at 8, D, and W - the perception changes, and you see that any sign of a retrace (ie 38% fib retracement for instance) is a perfect time to add, since your still not even approaching the LTL on the daily.
  • #685,856
  • Aug 29, 2012 1:01pm Aug 29, 2012 1:01pm
Technical picture continues to be bearish on hourly chart. I am staying aside now and waiting for all news to come out this week. Concentrating on other pairs.
  • #685,857
  • Aug 29, 2012 1:02pm Aug 29, 2012 1:02pm
Quoting fxrustyspoon
you and Attila remind me of mosquitos. You guys bug
So I guess that is yes.

Club Fed awaits.

  • #685,858
  • Aug 29, 2012 1:05pm Aug 29, 2012 1:05pm
Quoting almo
I think everything depends on how long your intending on holding.

I personally think we have a stronger chance of going up 200 pips, than down 200 pips. I'm willing to wait until I get my price, and continue to rinse/repeat my longs until we get there.


If your only looking at intraday, then yeah, it makes more sense to not go long while price continues to appear weak.

when you start looking at 8, D, and W - the perception changes, and you see that any sign of a retrace (ie 38% fib retracement for instance) is a perfect time to add, since...
Today closing anywhere near where it is now will stall the daily uptrend and will begin the downward pressure. It may or may not be swift or even just sideways until the weekly can catch up. One way or the other I dont see longs in the future.
  • #685,859
  • Aug 29, 2012 1:14pm Aug 29, 2012 1:14pm
Quoting divak
i fear the trend may change as Fed will disappoint... imho.
i said i many times already here, and betting on it too, imho there wont be any QE3...

today's GDP and home data is fair enough.
In that case we need a spike to get better price for shorts.
They think they are smarter than I am.
  • #685,860
  • Edited 1:25pm Aug 29, 2012 1:14pm | Edited 1:25pm
Well, now we´ve entered in this "twilight zone"..the other point, as I post before and ask you to mark, is that the end of the week the price will be 1.2510 (or at least we will see FOR SURE 1.2510 on friday)..so nothing more to add...trade responsably

ps: this is not good for my [email protected] I´m already in red this week 45 pips as posted.
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