good luck to ushere's more chart porn. btw im gonna pick your brain gator on how you get your price points you use 1 of these nights.
really like the 13095 area
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- #741,422
- Jan 3, 2013 7:32pm Jan 3, 2013 7:32pm
- Joined Aug 2009 | Status: Trader | 12,448 Posts
Okay, here goes.
Let's start with the 1440 minute chart. Same chart as posted before. However, the last bar has closed.
That last bar was an "Effort to Fall" bar. It was a wides spread down bar on increasing volume closing on its low. This proves the weakness that came in on the previous interval. Not only that interval but also weakness of the Supply Swamping Demand (SSD) and Up Thrust intervals.
Note that the chart mode is still up.
What we want to see is the chart mode turn down (red). Then look for a narrow range...
nice TA bro
slightly different view, but options the same
try to show chart selfexpanlitory
key is the breakout of range @ resistance, pushing below this years open, through 3108, through rising tl, all in all a pretty vicious bear rejection of daily / weekly resistance
I see a possible bounce 13000 up to retest the breached rising tl untested as yet, however,
I dont think this is your normal rejection of resistance, the fall is started by a huge daily pin, followed by a shaved bearish engulfing, and as posted before presently printing a new daily low, all 3 on a vertical drop, not really the time to be trying to pick the bottom of this drive, actually a nice time for bulls & bears to stay sideline, bears who already aboard ok, bulls who have / are try getting smashed
nfp if not already onboard. also good reason to take a break come back next week
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- #741,423
- Jan 3, 2013 7:33pm Jan 3, 2013 7:33pm
- Joined Oct 2008 | Status: sideline is a position | 105,125 Posts
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- #741,424
- Jan 3, 2013 7:38pm Jan 3, 2013 7:38pm
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- Jan 3, 2013 7:41pm Jan 3, 2013 7:41pm
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- #741,427
- Jan 3, 2013 7:43pm Jan 3, 2013 7:43pm
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- #741,428
- Jan 3, 2013 7:44pm Jan 3, 2013 7:44pm
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- Jan 3, 2013 7:46pm Jan 3, 2013 7:46pm
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- #741,430
- Jan 3, 2013 7:48pm Jan 3, 2013 7:48pm
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i know, but i have a tendency to do contrarian and countertrend trading...
everybody follows his own style.
It's amazing how we can all have different view point but still all be green at the end of the week. Gotta love FX
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good call bro, on the sidelines.. would like a bigger up move to add shorts..
now im watching this move angry at myself, trying to get back into the game lol
- #741,433
- Jan 3, 2013 7:52pm Jan 3, 2013 7:52pm
- Joined Oct 2008 | Status: sideline is a position | 105,125 Posts
me too. i was waiting to short 13290's for over a week for this plunge, i didget short at 13292 then i scalped it off for 20 pips the other day thinking we gonna range trade even more
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- #741,434
- Jan 3, 2013 7:54pm Jan 3, 2013 7:54pm
- Joined Aug 2009 | Status: Trader | 12,448 Posts
still holding short from 3295...
nice M shape on daily, with a great daily bar on wed followed by huge fall on yesterday which broke the neckline...
didnt expect us to break the 4hr trend line so easy..FOMC minutes helped a lot on this...
next probabli 50dsma 2980 or daily trend line area....
daily remain uptrend...but we have rate decision next wk in mind
let see the reaction near 50dsma..
hold her as long as possible, could be a very nice runnersmall steps bro, just small steps at a time, can become huge strides if have nerve to give pa time to do her thing,
piddly 15min chart, in squeeze tight squeeze, bo up, break previous high (yellow line) bull could take some pips, but presently she printing ll lh ll lh
I will take scalp long if she break up as above, or add short if she print new low
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- #741,435
- Jan 3, 2013 7:57pm Jan 3, 2013 7:57pm
- | Joined Apr 2007 | Status: Trader | 1,553 Posts
for me 3018 is low for a 8-10h well i go to sleep 
see you all
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- #741,436
- Jan 3, 2013 8:07pm Jan 3, 2013 8:07pm
- Joined Apr 2011 | Status: Liverpool's KOP | 8,021 Posts | Online Now
3295 bro "nice"
small steps bro, just small steps at a time, can become huge strides if have nerve to give pa time to do her thing,
piddly 15min chart, in squeeze tight squeeze, bo up, break previous high (yellow line) bull could take some pips, but presently she printing ll lh ll lh
I will take scalp long if she break up as above, or add short if she print new low
I have some shorts under water before I took this 3295 short...I have USDX in mind...if we break below the trend line..most likely bull will get my sl...but lucky they dnt have the balls to do so...and I manage to closed my other shorts in green.....
now seems we may push up higher.. non farm or rate cut?
Was planning to take some long last night near 3090..but i dnt get enough signals to do so.. woke up today n saw big fall after FOMC meeting minutes...glad I didnt take long...
now I have already bank some of the profit...with sl @ be..thinking to move it down to 3168...
nice start of the year...
Patience, Emotion Control and Discipline.
- #741,437
- Jan 3, 2013 8:14pm Jan 3, 2013 8:14pm
- | Joined Apr 2011 | Status: Trader | 1,152 Posts
MMMYYYKKK
- #741,438
- Jan 3, 2013 8:15pm Jan 3, 2013 8:15pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
me too. i was waiting to short 13290's for over a week for this plunge, i didget short at 13292 then i scalped it off for 20 pips the other day thinking we gonna range trade even more
We take a long-term (500 plus pip) postion with sl 100 to 150 pips.
1. It shows profit of 40 or 50 pips and bounces from a strong s/r in its way. Profits shrink to 35 pips and we cash in with an intention of re-entry when it resumes going in our direction. That re-entry never comes.
or
2. It shows a loss of 50 pips and looks as if it will keep on going against us for another 100 pips. We close or enter in the opposite direction. It starts going in our original direction and we do not get a re-entry
or
3. It hits our sl of 100 or 150 pips before going in our direction for 800 pips and we do not get a re-entry
or
4. It goes in our favor for 300 pips and then reverses to hit our sl of 100 or 150 pips.
or
5. It does whatever it could to let us down no matter what we do
What we are doing wrong? You tell me, then I will let you know what to do (or what not to do) based on a simple logic.
The Thief of Wall Street
- #741,439
- Jan 3, 2013 8:23pm Jan 3, 2013 8:23pm
- Joined Oct 2010 | Status: Trader | 21,478 Posts
Intraday only.
- #741,440
- Jan 3, 2013 8:26pm Jan 3, 2013 8:26pm
- Joined Oct 2008 | Status: sideline is a position | 105,125 Posts
those who can, do. those who cant, talk about those who can