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  • #768,061
  • Mar 6, 2013 9:21am Mar 6, 2013 9:21am
Quoting Bocephus
Based on my 4h chart with the gas tank half full I think we will see 1.2990 minimum, if we break this TL which looks like a very strong chance we will.
  • #768,062
  • Mar 6, 2013 9:22am Mar 6, 2013 9:22am
Quoting tomspin
trust me, I've been using them for over a year now and price stick to them like a glue, pivots are most effective technical tool available to retail cannon fodder which unfortunately we all are,
They represent supply and demand, support & resistance and they replace fib levels as well, you just have to know how to use them and how price action behaves around them, give it a try and come back to me after some time via PM, I am open to disscusion and learning new things.
Again Mercy never explain his levels and I asked him directly to do it - no...
Example

http://s18.postimage.org/g02vk9p3t/aussie.gif
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Failure to close week above monthly pivot for me is a sign of bullish weakness
swing it!
  • #768,063
  • Mar 6, 2013 9:22am Mar 6, 2013 9:22am
G'day all.

I had to go out for much of this morning but was delighted to find that I had made the wages for the day by the time I returned. Specifically, 45 pips short cable. The icing on the cake was when my EU trade cashed out with another 19 pips whilst I was having my afternoon tea. I can afford to go and buy a loaf of bread now.
  • #768,064
  • Mar 6, 2013 9:24am Mar 6, 2013 9:24am
Quoting fibstalker
Hello all,
the Dollar Index is the King and it's good to analyze where/when it could top-out. This is my latest analysis for it.

The Dollar Index could be very close to a reversal. On the daily chart, the sequence of measured moves higher, which was currently trading in extensions long, failed with price moving below 82 (I had indicated that level in the free weekly Newsletter). That failure, along with the traditional long that offered support yesterday and today (see scenario 1 below) is pointing to highs at 82.78-85 or slightly...
Bout time someone knows how to analyze. "Why's the EURUSD going down?" as the dollar increases. "Why's EURJPY going down" as the Yen strengthens. However, the Dollar can retrace, but I do not think a full-on trend reversal is in the books. The dollar has had great momentum as it broke out of a descending triangle and sideways/sightly ascending channel. The top of the channel is now support, while a break below is possible but a full downward move to the triangle's tip is unlikely.

Analyst's have been trying to predict the dollar's reversal with contrarian analytics or black magic, but it is important to realize the markets can still increase with the dollar. However, the markets are getting a head of themselves. 1540, historically, is a sketchy area to trade in.
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When the facts change I change my mind, what do you do sir
  • #768,065
  • Mar 6, 2013 9:24am Mar 6, 2013 9:24am
Quoting Vectamart
G'day all.

I had to go out for much of this morning but was delighted to find that I had made the wages for the day by the time I returned. Specifically, 45 pips short cable. The icing on the cake was when my EU trade cashed out with another 19 pips whilst I was having my afternoon tea. I can afford to go and buy a loaf of bread now.
Well done young man...!
  • #768,066
  • Mar 6, 2013 9:25am Mar 6, 2013 9:25am
Quoting Ken A
Guess unfinished offers at around 122.20 but E/U is preventing it from going up.
had to pick trouble up from school. Yes, eu's got to find a bottom for ej to follow, otherwise ej will be stuch here all day. eu right at the level now from where it may turn. We'll see.
  • #768,067
  • Mar 6, 2013 9:25am Mar 6, 2013 9:25am
Quoting Bocephus
2990 POSS support level here for me
Same, hoping she holds.
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #768,068
  • Mar 6, 2013 9:28am Mar 6, 2013 9:28am
It could have been much better today for me, due to my inactivity I'm only 18 pips in green. I have 85 in my mind for a small long.
  • #768,069
  • Mar 6, 2013 9:30am Mar 6, 2013 9:30am
If 121.57 allows/breaks we have at least 100 pips to the downside. Or am I hallucinating again...?
  • #768,070
  • Mar 6, 2013 9:31am Mar 6, 2013 9:31am
Quoting math_GB
If 121.57 allows/breaks we have at least 100 pips to the downside. Or am I hallucinating again...?
I hope you are not hallucinating
Make choices and don't look back !
  • #768,071
  • Mar 6, 2013 9:32am Mar 6, 2013 9:32am
Quoting Purec
I hope you are not hallucinating
Careful mate, if it doesn't break it may piss us off pretty bad...
  • #768,072
  • Mar 6, 2013 9:32am Mar 6, 2013 9:32am
Quoting mohan76
you have modify the indi as per your needs , you can finds standard pivot http://www.actionforex.com/markets/p...2010040848154/
Thanks Mohan, i know this site. I need something on mt4 which calculates pivots according to last 8 hours highest,lowest and close prices with in only 8 hours limited time I do have such tool on globex trading platform but not in mt4. And of course problems arise with different price levels cause they never same

Take care
  • #768,073
  • Mar 6, 2013 9:34am Mar 6, 2013 9:34am
So I go away from the keyboard doing...whatever it is away from the keyboard. I come back and see the pair going down and the Bank of Canada maintaining their 1% rate.

What else have I missed?
Not all sins are created equal
  • #768,074
  • Mar 6, 2013 9:35am Mar 6, 2013 9:35am
Buy @2990.........long
  • #768,075
  • Mar 6, 2013 9:35am Mar 6, 2013 9:35am
Quoting math_GB
If 121.57 allows/breaks we have at least 100 pips to the downside. Or am I hallucinating again...?

It hit 121.56 just under an hour ago, that was the trough so far

Short @ 121.65 - SL @ .73

TP tba
Learning - pip by pip
  • #768,076
  • Mar 6, 2013 9:35am Mar 6, 2013 9:35am
o tempting to pull a long over here but i might still have room for improvement.
  • #768,077
  • Mar 6, 2013 9:37am Mar 6, 2013 9:37am
Quoting math_GB
If 121.57 allows/breaks we have at least 100 pips to the downside. Or am I hallucinating again...?
Don't think we're gonna see anything happen till the news later tonight...
"If you won't risk the usual, you'll have to settle for the ordinary."
  • #768,078
  • Mar 6, 2013 9:39am Mar 6, 2013 9:39am
Quoting livethedream
Don't think we're gonna see anything happen till the news later tonight...
Actually it is a perfect time to perform the necessary corrections but what the heck do I know...??!!??
  • #768,079
  • Mar 6, 2013 9:39am Mar 6, 2013 9:39am
Quoting math_GB
Well done young man...!
Thanks, Math. Seriously though, it proved yet again that my theory works in practice. I have compiled a spreadsheet detailing all the trades that complied with my pre-requisites for entry over the past 5 weeks, i.e. since 1st February 2013. Only one was a loser.

The only other trades that I exited early to mitigate a loss or was stopped out of were attempts at scalping, which to be honest, violated my own rules - so I deserved to lose out on them. Sometimes trading within my rules can require a great deal of patience - a commodity that I must confess that I have only ever had in short supply! However, it certainly pays off in the end.

If I wanted to let avarice get the better of me, I could have taken a few more pips by going short after traversing the S1 levels for both pairs' however, the risk is higher and the chances of successfully hitting S2 are a good deal lower than with the initial trade from PP to S1.

Expecting to see some profit taking soon.
  • #768,080
  • Mar 6, 2013 9:40am Mar 6, 2013 9:40am
Quoting tankokjian
o tempting to pull a long over here but i might still have room for improvement.

improvement? you might have something there... referring to .eu ...goal today seems to be: clean out every accumulated long in sight!
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