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  • #699,981
  • Sep 29, 2012 10:25am Sep 29, 2012 10:25am
Quoting KillerWhale
Sorry pal, you should have grabbed the opportunity to add long @ 0.9785 as I did, it was right at the bottom of the upward channel.
Risk versus Reward could not be better.
In stead you tossed your long.

I can only say, have some faith in bottoms, trend lines, your own interpretation of them and handle accordingly.

QE's have not much impact in the longer term, it's a terrible job from the Fed.
I remember when the US credit rating was slashed and everyone was scared the interest would go up, what happened after that?
The interest rate did...

Yep, in hindsight I should have held my long... bad decision and good lesson.
  • #699,982
  • Sep 29, 2012 10:25am Sep 29, 2012 10:25am
Just a friendly question : is killer whale our local KING KONG ???
  • #699,983
  • Sep 29, 2012 10:27am Sep 29, 2012 10:27am
It'll probably drop to the next lower level and make a mess there between 2788 and 2834 before printing a pull back on the daily down trend up to 2935 or 3025 depending. Then we'll take it from there..

Final lower target is 2642.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 14 KB
  • #699,984
  • Sep 29, 2012 10:28am Sep 29, 2012 10:28am
Quoting Mr.Kruger
Yep, in hindsight I should have held my long... bad decision and good lesson.
King Kong could have told you this is a more kind and gentle manner, Mr Kruger.
  • #699,985
  • Sep 29, 2012 10:31am Sep 29, 2012 10:31am
Quoting chiknthief
Just a friendly question : is killer whale our local KING KONG ???
I'm not and I don't intend to be
New voice message: Why are you calling me? If I need you, I'll call you!
  • #699,986
  • Sep 29, 2012 10:32am Sep 29, 2012 10:32am
Quoting Vg1
Here you come....It doesn't look nice but still...Yes...is was quite difficult to figure out the waves but I used fibo for that
I am not a huge fan of the elliot wave principle, always difficult to tell exactly where you are imo.

My point of view is that we have not reached the bottom of the downtrend and therefore it is too early to use the Elliot Wave. However, I might be wrong.
  • #699,987
  • Sep 29, 2012 10:34am Sep 29, 2012 10:34am
Quoting KillerWhale
I'm not and I don't intend to be

I saw your bully tactics regarding poor Mel. If you're gonna talk to people DROP the 'gung ho' crap. Or else I'm gonna get gung ho !!!
  • #699,988
  • Sep 29, 2012 10:35am Sep 29, 2012 10:35am
Quoting Mr.Kruger
I am not a huge fan of the elliot wave principle, always difficult to tell exactly where you are imo.

My point of view is that we have not reached the bottom of the downtrend and therefore it is too early to use the Elliot Wave. However, I might be wrong.
EW in currency pairs... I always had this question in my mind.. If eur/usd "shows" we are in let's say 2nd wave, then in what kind of wave is usd/eur?....the same 2nd wave the other way? I don't know..

I don't believe EW works in forex.. stocks maybe...
  • #699,989
  • Sep 29, 2012 10:37am Sep 29, 2012 10:37am
Quoting chiknthief
King Kong could have told you this is a more kind and gentle manner, Mr Kruger.
I appreciate KW's pragmatic and straightforward answer to my question
After all, I did hold a long which i exited for no reason other than nervousness
  • #699,990
  • Sep 29, 2012 10:41am Sep 29, 2012 10:41am
Everybody should trade in the manner that fits their own personality and traits. Find something you are comfortable with and go with it. Whats good for one may not be good for the other. Never tell other traders what they 'woulda, coulda, shoulda done. Never be a KING KONG !!!

Happy pips, everybody !!! Go with the flow !!!
  • #699,991
  • Sep 29, 2012 10:45am Sep 29, 2012 10:45am
Quoting Mr.Kruger
I appreciate KW's pragmatic and straightforward answer to my question
After all, I did hold a long which i exited for no reason other than nervousness
Thats good if you're OK with it. Emotions can be harmful in trading. Stick to what you are comfortable with but do plan, plan ,plan. Planning has a way of removing emotions.
  • #699,992
  • Sep 29, 2012 10:53am Sep 29, 2012 10:53am
Quoting chiknthief
I saw your bully tactics regarding poor Mel. If you're gonna talk to people DROP the 'gung ho' crap. Or else I'm gonna get gung ho !!!
maybe, but KW gets the calls right much more often than not..
  • #699,993
  • Sep 29, 2012 10:57am Sep 29, 2012 10:57am
Quoting chiknthief
Thats good if you're OK with it. Emotions can be harmful in trading. Stick to what you are comfortable with but do plan, plan ,plan. Planning has a way of removing emotions.
I'm not sensitive lol

yeah, emotions can really cloud ones views...
  • #699,994
  • Sep 29, 2012 11:05am Sep 29, 2012 11:05am
Quoting attila
maybe, but KW gets the calls right much more often than not..
Thats all OK and good but holy crap, he went over the line with poor Mel. There was no call for that garbage. Gung Ho folks are asking to be challenged. And I'm willing to call him out on it. I don't know Mel but I do know when someone is being unreasonably ridiculed. I ridicule the ridiculers. BTW - I get the calls right more often than not myself with MY OWN SYSTEM. But I still consider myself a student of the markets and like to read what other people say and am open to new ways to improve my own trading. But I do not respect KING KONGS who KNOW IT ALL !!!
  • #699,995
  • Sep 29, 2012 11:32am Sep 29, 2012 11:32am
Quoting KillerWhale
I know you are a very serious trader and I respect you for that, but I think that 1570 for ES is just a number, nothing more.
I also see that Quarterly numbers failed to break support to the downside, but I see no reason why it would get all the way to 1570 in the short term.

Purely technical I can see a drop in EU for a few hundred pips, there is unfinished business at several levels.
Also UCAD is in a nice channel up and if one thing is sure, parity will always come back sooner or later.

But of course I wish you the best, we'll see how...
its been outperforming any major pair. Equities are like gold treasuries are garbage. Can eu drop along with es rising? Maybe
  • #699,996
  • Sep 29, 2012 11:34am Sep 29, 2012 11:34am
jpm fined for cotton shorts so expecting this to be bottom long term
  • #699,997
  • Edited 12:15pm Sep 29, 2012 12:02pm | Edited 12:15pm
Weelky scenario : Rally failed @ upper bollinger band and failed again @ 50 MA (turquoise line) Pattern of lower highs and lower lows is still intact since May 1, 2011. 50 MA and MAC still pointing south. Still a BEAR market. A down move to 12700 or below looks likely. No guarantees. Lick your finger and hold it up in the air to see which way the wind is blowing and GO WITH THE FLOW !!!
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  • #699,998
  • Sep 29, 2012 12:08pm Sep 29, 2012 12:08pm
Quoting chiknthief
Weelky scenario : Rally failed @ upper bollinger band and failed again @ 50 MA (turquoise line) Pattern of lower highs and lower lows is still intact since May 1. 50 MA and MAC still pointing south. Still a BEAR market. A down move to 12700 or below looks likely. No guarantees. Lick your finger and hold it up in the air to see which way the wind is blowing and GO WITH THE FLOW !!!
what I was saying...failed up there, going to the next down..

Attached Image
  • #699,999
  • Sep 29, 2012 12:12pm Sep 29, 2012 12:12pm
NOTE - This is the first time PA has reached the upper bollinger band since the downtrend began. New Lows may well be in the not too distant future.
  • #700,000
  • Sep 29, 2012 12:14pm Sep 29, 2012 12:14pm
Quoting attila
what I was saying...failed up there, going to the next down..

Attachment

I don't have a clue what your horizontal lines are but yeah, looks like a bear market alright.
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