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  • #13,541
  • Nov 14, 2012 10:10pm Nov 14, 2012 10:10pm
Quoting Kissa
Google "the Law of Market [EWP" your post comes up first, that was fast
Really?
daddybearforex. com
  • #13,542
  • Nov 14, 2012 10:12pm Nov 14, 2012 10:12pm
Quoting Stretch
I wasn't saying it was a mistake. I was saying "selling at the bottom is always bad" If it wasn't the bottom it wouldn't be bad
We all got our different trading systems, and I bet we are all fine tuning it. I hope to learn something extra by reading this thread and contributing to it.
And yes confirmation is always a good thing, though I sometimes forget to be patience too common human mistake
haha - the definition of a bottom works well only retrospectively^^
  • #13,543
  • Nov 14, 2012 10:14pm Nov 14, 2012 10:14pm
Quoting maximmm
haha - the definition of a bottom works well only retrospectively^^
You got me there! hahaha ^^
But you got my point right?
  • #13,544
  • Nov 14, 2012 10:16pm Nov 14, 2012 10:16pm
50% fib still hold,
i might short soon..

TP 3478
Quoting Stretch
It broke, now it has to confirm. At least for me. If you don't like me posting, just tell me. I don't mind.

Still got a 50% fib at 0386..


This one M30 (H1 too) that just closed above 0382 isn't enough for confirmation, but gives it a better chance for sure. Need at least an extra M30 close above it. preferably above 0386
  • #13,545
  • Nov 14, 2012 10:16pm Nov 14, 2012 10:16pm
Quoting Stretch
I totally believe that too. There are some FF posters I occasionally follow, they really have great analysis, it's just so much to learn and grasp before you understand it. Need hours to put into that. But the future has enough of those hours
If you know what you know now, where would you have begun learning EWP?
Get Robert R. Prechter, Jr.'s EWP and study it until your butt is off. Observe the market in real time mode and put your understanding to the charts a few years until you can count the waves in real time. My 2 cents.
daddybearforex. com
  • #13,546
  • Nov 14, 2012 10:17pm Nov 14, 2012 10:17pm
Good day every body, DaddyBear, nice to se you... just wanted to put my 2 cents.

Last chart I published here had a bullish bias for this pair and technically it hasn't changed although I think there is something I might consider to add to this review, so I see Daily candle closing for the Wednesday session engulfing on the bear side all of the last 5 days' range, pressing further the already compressed EMAs, rising Trendline has been broken and price might retrace to test it once it bounces off the 200 EMA, as we are seeing now on the 4 hourly, the last closed candle has made an outside bar at support, 1.0400 which was pointed out before as a good resistance point is also the central monthly pivot adding to it strength...

http://1.bp.blogspot.com/-RAkLEEioG5...+02+audusd.gif
  • #13,547
  • Nov 14, 2012 10:17pm Nov 14, 2012 10:17pm
Quoting HelloOz
50% fib still hold,
i might short soon..

TP 3478
again, no Stop loss,
TP may move without notice ... LOL!!!
  • #13,548
  • Nov 14, 2012 10:18pm Nov 14, 2012 10:18pm
Quoting Stretch
You got me there! hahaha ^^
But you got my point right?
It's a fair point, but again, it's hard to predict the location of a bottom. I was most certainly not selling at the bottom - I was selling upon the breach of a trendline.

The sell did not work only because the 1 hour candle did not close below the trendline - thus the break was invalid.

Anyways, my usdjpy buy is going well. I wonder though.... last time usdjpy went up, aud went down a 100 pips. I'm not going to switch to aud by any means, but it's something to keep in mind^^
  • #13,549
  • Nov 14, 2012 10:19pm Nov 14, 2012 10:19pm
Quoting DaddyBear
My Bulls are always with you until the end.
  • #13,550
  • Nov 14, 2012 10:21pm Nov 14, 2012 10:21pm
Quoting HelloOz
i thought so too.
thought it was titanic,
i hope no one sell at bottom.. i should be banned... bad boy !!!
Don't worry about this tiny event. Focus on what mistakes you had made and try to find an answer to prevent the same mistakes from happening again and again.

As a newbie, you show some potential in trading. Don't back off but keep fighting on until you can master the trading.
daddybearforex. com
  • #13,551
  • Nov 14, 2012 10:23pm Nov 14, 2012 10:23pm
Quoting maximmm
It's a fair point, but again, it's hard to predict the location of a bottom. I was most certainly not selling at the bottom - I was selling upon the breach of a trendline.

The sell did not work only because the 1 hour candle did not close below the trendline - thus the break was invalid.

Anyways, my usdjpy buy is going well. I wonder though.... last time usdjpy went up, aud went down a 100 pips. I'm not going to switch to aud by any means, but it's something to keep in mind^^
Like I said it was no mistake, it was your interpretation with your trading system. So absolutely nothing wrong with that. I was just saying HelloOz shouldn't feel bad about saying "titanic and all that", because also he interpreted Price on his own way. He said it's bad to sell at bottom, and that's true, but you can't know for sure until you moved further in to the future.
  • #13,552
  • Nov 14, 2012 10:23pm Nov 14, 2012 10:23pm
Next is the 4 hourly where I marked my important levels, the same golden trendline from daily is there, probable retest on the confluence at trendline and central monthly pivot, I can not be sure about the future you know, I just trade my chart of the present moment...

http://1.bp.blogspot.com/-JiqG4gXTG9...+01+audusd.gif
  • #13,553
  • Nov 14, 2012 10:24pm Nov 14, 2012 10:24pm
Quoting DaddyBear
Get Robert R. Prechter, Jr.'s EWP and study it until your butt is off. Observe the market in real time mode and put your understanding to the charts a few years until you can count the waves in real time. My 2 cents.
Thank you very much! I took a note of your comment! Once I get to this step I will look into that. Thanks.
  • #13,554
  • Nov 14, 2012 10:24pm Nov 14, 2012 10:24pm
Quoting Daytrader74
No papa, what I disagreed with was how u were adding more to your position while it was still falling!
O.K. I got you. The reason I kept adding to my portfolio was because I knew it would not keep dropping.
daddybearforex. com
  • #13,555
  • Nov 14, 2012 10:25pm Nov 14, 2012 10:25pm
YES SIR!



Quoting DaddyBear
Don't worry about this tiny event. Focus on what mistakes you had made and try to find an answer to prevent the same mistakes from happening again and again.

As a newbie, you show some potential in trading. Don't back off but keep fighting on until you can master the trading.
  • #13,556
  • Nov 14, 2012 10:33pm Nov 14, 2012 10:33pm
Max,

are you still shorting or gone long ?

i need 2nd opinion.. wish to short at this level..
wanted to go short 15 mins ago and it has dropped 6pips..
  • #13,557
  • Nov 14, 2012 10:35pm Nov 14, 2012 10:35pm
Quoting Eric D
Good day every body, DaddyBear, nice to se you... just wanted to put my 2 cents.

Last chart I published here had a bullish bias for this pair and technically it hasn't changed although I think there is something I might consider to add to this review, so I see Daily candle closing for the Wednesday session engulfing on the bear side all of the last 5 days' range, pressing further the already compressed EMAs, rising Trendline has been broken and price might retrace to test it once it bounces off the 200 EMA, as we are seeing now on the 4 hourly,...
Eric, if you redraw the LTL and make it parallel to the UTL, it would look different. DB
daddybearforex. com
  • #13,558
  • Nov 14, 2012 10:36pm Nov 14, 2012 10:36pm
Quoting DaddyBear
O.K. I got you. The reason I kept adding to my portfolio was because I knew it would not keep dropping.
Papa it looks shaky at the moment...could drop and make a new low very soon...
  • #13,559
  • Nov 14, 2012 10:36pm Nov 14, 2012 10:36pm
Quoting HelloOz
Max,

are you still shorting or gone long ?

i need 2nd opinion.. wish to short at this level..
wanted to go short 15 mins ago and it has dropped 6pips..
I'm long usdjpy - went long prior to the big candle we can see there now.

Out of aud for now - I'm not sure about shorting now... or going long for that matter. An hourly close below 1.035 will serve as a good place to short the pair - otherwise, it may go higher still - if it goes above 1.05, I'll start shorting aggressively.
  • #13,560
  • Nov 14, 2012 10:38pm Nov 14, 2012 10:38pm
Quoting HelloOz
50% fib still hold,
i might short soon..

TP 3478
Would have been a good scalp.
The 0382 wasn't confirmed (yet?). Instead it might test 0373 again. I can't look past all of this if 0347 is in the question. Or did I misread your TP? (is it 0378?)
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