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  • #718,421
  • Nov 16, 2012 1:17am Nov 16, 2012 1:17am
morning

well we danced with 1.28 yesterday which was my initial limit for shorts, but it held up and gave a nice short opportunity.

so the trade plan is still valid:

Daily - still correcting 1.204x to 1.318x swing and next target level 1.260x

H4 you can see more clearly on the 4 hour that the current move down (wave C of the correction) has retraced enough to 1.28 to provide a 5 wave projection.
This gives an initial target level of 1.262x (which aligns with daily target level well enough) with additional targets of 1.257x 1.254x and 1.250x
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  • #718,422
  • Nov 16, 2012 1:18am Nov 16, 2012 1:18am
Quoting KiwiTrada
hey bro, in teleconference now, nothing on wires, going to have to watch pa for any sort of pre speech leaks, I have all ladies up, just standard pa so far 8 20 8 25 is normally get early reaction, they keeping this one tight by the looks everyone getting jittery with middle east developments,

might pay to stay aside anything under 4hrs might not be respected,
i just post daily earlier, could use the as guide tech say swissy gonna fly and eu will be brick, but never trust power of blabber mouths

i bb closer to blabbermouth
I checked the H1 earlier and saw some very good buying there , plus the H1 that hit a trend line saw the highest volume - i took long positiong , but didn't like how it was reacting , so i got out BE... i'm still watching !
"It's the Margin, Stupid."
  • #718,423
  • Nov 16, 2012 1:25am Nov 16, 2012 1:25am
Quoting Vachus
I checked the H1 earlier and saw some very good buying there , plus the H1 that hit a trend line saw the highest volume - i took long positiong , but didn't like how it was reacting , so i got out BE... i'm still watching !
good idea bro. is to close entry for too close news, need be already pip locked with trailing maybe entry needed be lot higher for bear or lot lower for bull pa is starting to bobble,
If you are new to Forex? Say Goodbye to your account!!
  • #718,424
  • Nov 16, 2012 1:25am Nov 16, 2012 1:25am
Max doom,


Dont you think 38.2% retracement will be done for that fall.. so 4th wave should extend till 1.284 know ?

Quoting MaxDoom
morning

well we danced with 1.28 yesterday which was my initial limit for shorts, but it held up and gave a nice short opportunity.

so the trade plan is still valid:

Daily - still correcting 1.204x to 1.318x swing and next target level 1.260x

H4 you can see more clearly on the 4 hour that the current move down (wave C of the correction) has retraced enough to 1.28 to provide a 5 wave projection.
This gives an initial target level of 1.262x (which aligns with daily target level well enough) with additional targets of...
  • #718,425
  • Nov 16, 2012 1:27am Nov 16, 2012 1:27am
I heard that FED wont print next year..that seems good..
  • #718,426
  • Nov 16, 2012 1:27am Nov 16, 2012 1:27am
Quoting MaxDoom
morning

well we danced with 1.28 yesterday which was my initial limit for shorts, but it held up and gave a nice short opportunity.

so the trade plan is still valid:

Daily - still correcting 1.204x to 1.318x swing and next target level 1.260x

H4 you can see more clearly on the 4 hour that the current move down (wave C of the correction) has retraced enough to 1.28 to provide a 5 wave projection.
This gives an initial target level of 1.262x (which aligns with daily target level well enough) with additional targets of 1.257x...
That is very clear to me... Same with mine.. :-)
1M & 5M scalper. 1Malaysia..
  • #718,427
  • Nov 16, 2012 1:28am Nov 16, 2012 1:28am
Quoting 21vs7
I heard that FED wont print next year..that seems good..
Yeah! They'll stop printing. And they'll have unicorns for everyone.
Not all sins are created equal
  • #718,428
  • Nov 16, 2012 1:35am Nov 16, 2012 1:35am
Quoting KiwiTrada
not enough info to use with confidence , however the priciple is ok, daily charts can take weeks even months sometime to play out
have to be careful with swissy and yen charts, they have been heavily influenced / altered pa thru interventions / manipulations

the chart normally is in down trend, with a possible corection underway, however the low is an alltime low or extreme low, this brings in other dynamics add to this SNB has a floor in place, not this specific pair, but it is influenced by the chf floor

so bro I use monthly charts to...
Ok.

i will trade carefully, like as walk on iced lake.

thanks.
  • #718,429
  • Nov 16, 2012 1:35am Nov 16, 2012 1:35am
Quoting Jay Walker
Yeah! They'll stop printing. And they'll have unicorns for everyone.
Foook printing! Breeding Unicorns will get us out of this mess! All happy faces everywhere.
________

EU in recession...
i have 62 to be rejected for agressive
  • #718,430
  • Nov 16, 2012 1:38am Nov 16, 2012 1:38am
Quoting 21vs7
Foook printing! Breeding Unicorns will get us out of this mess! All happy faces everywhere.
________

EU in recession...
i have 62 to be rejected for agressive
I'm long on unicorn meat.
Not all sins are created equal
  • #718,431
  • Nov 16, 2012 1:39am Nov 16, 2012 1:39am
Quoting KiwiTrada
good idea bro. is to close entry for too close news, need be already pip locked with trailing maybe entry needed be lot higher for bear or lot lower for bull pa is starting to bobble,
Its good that i closed it , the speech came completely surprise and may see a sell pressure on USDCHF - they are planning to restore interest rate on Swissy ...
"It's the Margin, Stupid."
  • #718,432
  • Nov 16, 2012 1:39am Nov 16, 2012 1:39am
Quoting Jay Walker
Yeah! They'll stop printing. And they'll have unicorns for everyone.
Cool , my wife always wanted a pink one!!!!
  • #718,433
  • Nov 16, 2012 1:40am Nov 16, 2012 1:40am
The arabs ALWAYS buy euro in the morning. ALWAYS. For no reason; just to be cool.
Sometimes, with good reason, of course.
I'll shop after the drop
  • #718,434
  • Nov 16, 2012 1:42am Nov 16, 2012 1:42am
Quoting Willow
The arabs ALWAYS buy euro in the morning. ALWAYS. For no reason; just to be cool.
Sometimes, with good reason, of course.
Then we roll in during their afternoon!!!
Even the worst trade can close with profit. Just give it time.
  • #718,435
  • Nov 16, 2012 1:43am Nov 16, 2012 1:43am
Quoting Jay Walker
I'm long on unicorn meat.
mmm unicorn meat
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  • #718,436
  • Nov 16, 2012 1:43am Nov 16, 2012 1:43am
Quoting kshypananth
Max doom,


Dont you think 38.2% retracement will be done for that fall.. so 4th wave should extend till 1.284 know ?
anything is possible as we all know and have witnessed. but using standard correction analysis which I trade a lot these points give probability to the downside:

1. We have a clear wave A & B and are currently on a simple ABC which would imply that it will not proceed much beyond 1.2800 (wA) otherwise the correction is likely to become more complex or end - but so far it is still simple so I treat it as such.

2. corrections normally end in 38% to 78% zone and 38% is quite shallow and it has already passed the first target zone which included 38% so I have to assume that we are on a simple wave C headed for next target 1.260x.

3. the trend projection for wave 5 on the H4 supports a move lower with some nice targets but also the structure of that pattern is nice and clean with the w2 retrace 137 pips and w4 141 pips so a very nice match indeed with w4 ending at a big number 1.28 which is also wA on the daily correction = a lot of positive coincidence = higher probability for me.

4. and most importantly I like the abuse I get on here when I go short

So 1.284x is possible yes, but for me it would mean we are moving into a more complex correction or end of, and with this PA would be difficult to trade.
  • #718,437
  • Nov 16, 2012 1:46am Nov 16, 2012 1:46am
morning 21 & JW..

I am long on Kiwi meat..
  • #718,438
  • Nov 16, 2012 1:46am Nov 16, 2012 1:46am
He he .. Thank you max doom. Just that i took a small buy for that 2840 level based on this. But you are clearly in for the bigger picture.

Quoting MaxDoom
anything is possible as we all know and have witnessed. but using standard correction analysis which I trade a lot these points give probability to the downside:

1. We have a clear wave A & B and are currently on a simple ABC which would imply that it will not proceed much beyond 1.2800 (wA) otherwise the correction is likely to become more complex or end - but so far it is still simple so I treat it as such.

2. corrections normally end in 38% to 78% zone and 38% is quite shallow and it has already passed the first target zone which included...
  • #718,439
  • Nov 16, 2012 1:48am Nov 16, 2012 1:48am
Quoting kshypananth
He he .. Thank you max doom. Just that i took a small buy for that 2840 level based on this. But you are clearly in for the bigger picture.
I wish you well with your trade, but 1.28 is going to be very tough I think.

I am still short from yesterday @ 1.2790 and looking to add

Quoting AngelPips
That is very clear to me... Same with mine.. :-)
welcome aboard
  • #718,440
  • Nov 16, 2012 1:50am Nov 16, 2012 1:50am
i said you yesterday about cable that i buy this bastard.
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