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  • #20,761
  • Dec 17, 2012 9:40pm Dec 17, 2012 9:40pm
Gold has peaked its head back over 1700. If it can hold this thing might have a run here in AU & EU.
  • #20,762
  • Dec 17, 2012 9:40pm Dec 17, 2012 9:40pm
Quoting forexalien
LTL
now that's a trendline, and the correct triangle
In the days of old when sailors were bold, and seldom if ever contented.
  • #20,763
  • Dec 17, 2012 9:42pm Dec 17, 2012 9:42pm
Now, I can't believe it - it's now doing a retrace that, IMO, may surpass 1.05550... I'm closing my shorts now... To re-enter on top - The 30M TF stochastics seems to be stealthily aligning slowly with the 5M, 15M TF ones in the strong over-sold indicator-positions. Coupled with the 4H TF that remains resolute in the buy indicator position, still.
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
RubiconFund Return Today: -99.4%
  • #20,764
  • Dec 17, 2012 9:47pm Dec 17, 2012 9:47pm
Quoting surgeon
Now, I can't believe it - it's now doing a retrace that, IMO, may surpass 1.05550... I'm closing my shorts now... To re-enter on top - The 30M TF stochastics seems to be stealthily aligning slowly with the 5M, 15M TF ones in the strong over-sold indicator-positions. Coupled with the 4H TF that remains resolute in the buy indicator position, still.
yes close your shorts now,
you dont want the girls to be checking your *****
  • #20,765
  • Dec 17, 2012 9:48pm Dec 17, 2012 9:48pm
Quoting forexalien
LTL
Why is it the highs are okay for the DTL, but one shouldn't use the same criteria (lows) for the UTL? That doesn't make sense to me. However, price isn't making a triangle. The lines only represent a possible triangle. One must connect the starting points for both trend lines, then wait until price goes either to the very point of the "triangle" or does something that negates the triangle.
Play the players, not the cards.
  • #20,766
  • Dec 17, 2012 10:01pm Dec 17, 2012 10:01pm
Quoting HelloOz
on M15 chart,
higher high
higher low
no good,
we have to break this trend !!!
last 2 candles on M15 is hinting that it want to go up..
higher low..
  • #20,767
  • Dec 17, 2012 10:23pm Dec 17, 2012 10:23pm
messy December trading
  • #20,768
  • Dec 17, 2012 10:28pm Dec 17, 2012 10:28pm
Quoting GnarlyPips
Why is it the highs are okay for the DTL, but one shouldn't use the same criteria (lows) for the UTL? That doesn't make sense to me. However, price isn't making a triangle. The lines only represent a possible triangle. One must connect the starting points for both trend lines, then wait until price goes either to the very point of the "triangle" or does something that negates the triangle.

My triangle was based on existing PA - not on possible PA .... I don't even know where the 'to be formed' triangle came into play.

Though... there are times when it may be possible to predict the formation of a triangle - when two major trendlines meet - let's say when the day chart downtrend line meets the 1 hour chart uptrend line.
  • #20,769
  • Dec 17, 2012 10:32pm Dec 17, 2012 10:32pm
I am long with stop at 1.0530 - don't ask why.....

Actually, I'm trying to make market think that I am long, so that it would finally crash already^^
  • #20,770
  • Dec 17, 2012 10:45pm Dec 17, 2012 10:45pm
Quoting maximmm
I am long with stop at 1.0530 - don't ask why.....

Actually, I'm trying to make market think that I am long, so that it would finally crash already^^
Is your long a typo?
daddybearforex. com
  • #20,771
  • Dec 17, 2012 10:52pm Dec 17, 2012 10:52pm
Quoting DaddyBear
Is your long a typo?
short term -very short term
  • #20,772
  • Dec 17, 2012 10:53pm Dec 17, 2012 10:53pm
Quoting maximmm
I am long with stop at 1.0530 - don't ask why.....

Actually, I'm trying to make market think that I am long, so that it would finally crash already^^
i know why.. dont worry i wont ask you why..

just want to ask you this tho
why do you betray the bears?

edit:
let me rephrase it
beware of bears, they dont like traitors.
  • #20,773
  • Dec 17, 2012 11:00pm Dec 17, 2012 11:00pm
Quoting HelloOz
i know why.. dont worry i wont ask you why..

just want to ask you this tho
why do you betray the bears?

edit:
let me rephrase it
beware of bears, they dont like traitors.
As I've said before, this is essentially a pro-bear long.
  • #20,774
  • Dec 17, 2012 11:04pm Dec 17, 2012 11:04pm
This is the daily chart as of 1700 EST, 12/17/12.

The INDI X has turned upward since 12/17. The next candle (12/18) is likely a green one.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD-121712-D.JPG Size: 63 KB
daddybearforex. com
  • #20,775
  • Dec 17, 2012 11:14pm Dec 17, 2012 11:14pm
Quoting maximmm
My triangle was based on existing PA - not on possible PA .... I don't even know where the 'to be formed' triangle came into play.

Though... there are times when it may be possible to predict the formation of a triangle - when two major trendlines meet - let's say when the day chart downtrend line meets the 1 hour chart uptrend line.
Maybe this will show what I mean "to be". The first chart shows only what's happened. I will be using what I view as an appropriate trend line, however, regardless of which line technique I'm using, using only what's happened can be applied to all. The second chart shows the assumption that price will stay within those lines until price and the intersection meet.

If price deviates above/below the top/bottom line, then the triangle is negated. What's your strategy, then? Just because the lines meet if you keep drawing them doesn't make them relevant to price when that intersection meets. Yes, sometimes, they do happen, but PA is different at that point. Sometimes, after negating the triangle, price will return to previous lines. However, predicting price will be moving back there may be easier than predicting when price moves back if it does. The odds of predicting any shape is astronomical because there are is theoretically an infinite amount of pips price can rise therefore creating an extreme amount of possible shapes to form.

However, what does support/resistance mean to you? Does it mean where price generally stalls/breaks out or an area where smart money is either taking profit and giving up momentum or entering in positions and taking control of momentum due to market making/information curve/inventory imbalances and whatnot? (Maybe not always the smart money, but the bigger stacks on the table compared to retail.)

I'm generally interested.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 1haudtobe.png Size: 27 KB
Play the players, not the cards.
  • #20,776
  • Dec 17, 2012 11:22pm Dec 17, 2012 11:22pm
Quoting GnarlyPips
Maybe this will show what I mean "to be". The first chart shows only what's happened. I will be using what I view as an appropriate trend line, however, regardless of which line technique I'm using, using only what's happened can be applied to all. The second chart shows the assumption that price will stay within those lines until price and the intersection meet.

If price deviates above/below the top/bottom line, then the triangle is negated. What's your strategy, then? Just because the lines meet if you keep drawing them doesn't make them relevant...
The more times the line has been tested, the more relevant it is (top line, for example, was tested two times - though three times would be more ideal). Your bottom line has not been tested - did you draw that line based on some 90 degree angle or something?
  • #20,777
  • Dec 17, 2012 11:59pm Dec 17, 2012 11:59pm
the long to fool the market has worked.
There are still some major obstacles on the way down.... 1.05 being one, then 1.04 being the major support line.
  • #20,778
  • Dec 18, 2012 1:01am Dec 18, 2012 1:01am
My short term trading strategy worked well today so far, I increased my balance 2.6% in a shitty Asian session
In the days of old when sailors were bold, and seldom if ever contented.
  • #20,779
  • Dec 18, 2012 1:37am Dec 18, 2012 1:37am
Quoting DaddyBear
Are they aliens too?

http://www.forexfactory.com/attachme...1&d=1355785442

http://www.forexfactory.com/attachme...1&d=1353997523
Sometimes it's better to be wrong,to learn..
  • #20,780
  • Dec 18, 2012 4:42am Dec 18, 2012 4:42am
Quoting maximmm
the long to fool the market has worked.
There are still some major obstacles on the way down.... 1.05 being one, then 1.04 being the major support line.
How many billions you pumped this time to fool the market?
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