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  • #801,841
  • May 27, 2013 7:24am May 27, 2013 7:24am
Quoting KillerWhale
{quote} I'm in San Diego California, just 35 km from Tijuana in Mexico.Hunting is really great there.
No way. I was just in San Diego last Tuesday... took my wife shopping in La Jolla.. University town center. You know... the one with the indoor ice rink.
Luck has no place in trading. Leave that for the poker table.
  • #801,842
  • May 27, 2013 7:31am May 27, 2013 7:31am
Quoting Pair-me-up
{quote} No way. I was just in San Diego last Tuesday... took my wife shopping in La Jolla.. University town center. You know... the one with the indoor ice rink.
You guys should get together, compare notes in person, and share the experience with us. Please.
  • #801,843
  • May 27, 2013 7:36am May 27, 2013 7:36am
Quoting forex guru
{image}

Have the same buy target.. around 1.2855/41 but targeting 1.3070/80 for Friday.. feel today though we could get close to 1.2990
  • #801,844
  • May 27, 2013 7:38am May 27, 2013 7:38am
Quoting saidfred
sell right - its reached its high for the day - hey guys dont laugh just trying to be like you, ad learning the jingo lingo - sell for sure to i think 129

I think 1.2973 is the lowest of the highs it could go today... the target is 1.2984/89 but New York may fail around 1.2973/75 and Asia takes it there when Asia is online
  • #801,845
  • Edited 7:48am May 27, 2013 7:38am | Edited 7:48am
Short term view. Some easy scalps today playing this range
Attached Image (click to enlarge)
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What is any ocean but a multitude of drops?
  • #801,846
  • Edited 7:55am May 27, 2013 7:44am | Edited 7:55am
Quoting KillerWhale
{quote} You still believe your trend lines of which I earlier said they are not trend lines?

They are trend lines but they are pretty useless as they are on a 5 minute chart (apols Ted Weller's are/These are 15 minute but weren't going to hold as it hit resistance at higher timeframe than the trend line supoport) But the area to pick up was 32/26 and we are all good as long as 26 doesn;t break to test 1.2984/89 but 73 will pose a problem

The trend lines would be more valid on larger time frames.... for instance there is trend lines on the 4 hour at 1.2989 which would almost be the top for the day unless Asia takes it up and then again at between 1.2855/41... I and am sure many others would expect them to hold as trend lines as they are ona higher timeframe
Attached Image (click to enlarge)
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  • #801,847
  • May 27, 2013 7:55am May 27, 2013 7:55am
Quoting RussJ
{quote} They are trend lines but they are pretty useless as they are on a 5 minute chart... it hit a larger area of resistance.. the support was at 1.2932 where I picked up and others or I tell a fib.. I got 37 as alarm woke me off the sofa and just hit the buy The trend lines would be more valid on larger time frames.... for instance there is trend lines on the 4 hour at 1.2989 which would almost be the top for the day unless Asia takes it up and then again at between 1.2855/41... I and am sure many others would expect them to hold as trend lines...

It has nothing to do with what timeframe they are on. He's just not drawing them correctly.

Nor are you
What is any ocean but a multitude of drops?
  • #801,848
  • May 27, 2013 7:57am May 27, 2013 7:57am
are the recent highs on the 22 and 24 counted as double tops? an indicator for bearish trade?
it is highly likely that i'm wrong... so dont follow me!
  • #801,849
  • May 27, 2013 7:59am May 27, 2013 7:59am
do you want me to prove it... we hit a higher timeframe resistance so it can only be picked up by a larger time frame support........ understand the fractals and you will understand where it is too be picked up . . . we hit hourly and 4 hour Resistance so 15 minute trend line was not going to hold it. but slightly lower down we picked up 4 hour support


Apologies.... but Trend lines can be drawn differently... you can draw them 45% angles through candles.. and through bases, that's how you draw them....books will have you believe you draw them from bottom of wick to bottom of wick... and although that can be true its normally the lines of best fit of what makes a trend line... I learnt Fractal geometry by using trend lines in such a fashion and you just apply the same rules to candle wicks and get them same results

By the way there is no set way of drawing them... many amateur traders draw them from bottom of wicks to bottom of wicks and although that works and how its taught in books... many other people draw them differently (as I said the line of best fit, as long as the angle is correct
  • #801,850
  • May 27, 2013 8:06am May 27, 2013 8:06am
Quoting flam
are the recent highs on the 22 and 24 counted as double tops? an indicator for bearish trade?

nope but not expecting them to break today or tomorrow, but perhaps a break Wednesday... need a pullback to 1.2855/41 but expect today or Asia to take us to 1.2984/89 then the decline to 1.2855 area


Take clues... Look at Weekly chart... we didn't lower low last week... which means we should now be looking for a higher high but we are near the highs so expect a pullback first.


also look at the monthly chart we are trying to higher low.

also take a look at last swing lows at 1.2790... there was a confluence of Buys on Daily/Weekly and Monthly Charts..... Support there on all the charts.

Now i'm satisfies if it was just daily support there then 1.2990 hit we would be good to go lower as we would have settled the fractal but no we have not settled the weekly or Monthly so expecting higher highs off 1.2855/41
  • #801,851
  • May 27, 2013 8:12am May 27, 2013 8:12am
Italy's unemployment rate continues to grow, despite reforms

Italy’s national bureau of statistics - ISTAT - announced on Monday that country’s unemployment rate will rise to 11.9 percent this year, up 1.2 percent from 2012.


This exceeds the EU average, which is at 10.9 per cent - with Greece, Spain and
Portugal posting much higher numbers.

ISTAT forecast that joblessness in Italy will climb further still in 2014, to reach 12.3 per cent - the numbers of unemployed rapidly approaching 3 million.

Former premier Mario Monti introduced a labor reform in 2012 with the aim of making it easier to fire workers.

However ten months after its approval, the reform seems to be having no effect on hiring and firing.

The Italian youth are among those who have been affected the most by
the economic crisis, with four out of ten young people being unemployed.

Many here believe that Italy's labor market rules should be drastically simplified. That's because there's an ever widening gap between older workers and the millions of mostly young people who have temporary jobs but are not protected by standard worker’s rights.”

ISTAT forecast more bad news on Monday. Consumer spending in Italy is set to fall 1.6 per cent this year compared to 2012, but a moderate rise is predicted in 2014.

http://www.presstv.ir/detail/2013/05/07/302274/italys-unemployment-rate-continues-to-grow-despite-reforms
  • #801,852
  • May 27, 2013 8:17am May 27, 2013 8:17am
Quoting RussJ
{quote} They are trend lines but they are pretty useless as they are on a 5 minute chart (apols Ted Weller's are/These are 15 minute but weren't going to hold as it hit resistance at higher timeframe than the trend line supoport) But the area to pick up was 32/26 and we are all good as long as 26 doesn;t break to test 1.2984/89 but 73 will pose a problem The trend lines would be more valid on larger time frames.... for instance there is trend lines on the 4 hour at 1.2989 which would almost be the top for the day unless Asia takes it up and then...

Holy cow...what's that ? I get dazzled looking at that picture. Man...keep it simple ! The simpler, the better.
  • #801,853
  • May 27, 2013 8:18am May 27, 2013 8:18am
Quoting RussJ
By the way there is no set way of drawing them... many amateur traders draw them from bottom of wicks to bottom of wicks and although that works and how its taught in books... many other people draw them differently (as I said the line of best fit, as long as the angle is correct
How ironic
What is any ocean but a multitude of drops?
  • #801,854
  • May 27, 2013 8:18am May 27, 2013 8:18am
Quoting RussJ
{quote} nope but not expecting them to break today or tomorrow, but perhaps a break Wednesday... need a pullback to 1.2855/41 but expect today or Asia to take us to 1.2984/89 then the decline to 1.2855 area Take clues... Look at Weekly chart... we didn't lower low last week... which means we should now be looking for a higher high but we are near the highs so expect a pullback first. also look at the monthly chart we are trying to higher low. also take a look at last swing lows at 1.2790... there was a confluence of Buys on Daily/Weekly and Monthly...

so last week's low must be lower than 2 weeks ago?

on the monthly chart the higher low from july 2012?

not too sure i'm even right on the terms...
it is highly likely that i'm wrong... so dont follow me!
  • #801,855
  • May 27, 2013 8:30am May 27, 2013 8:30am
any followers of the seventeen hour cycle?
Attached Image (click to enlarge)
Click to Enlarge Name: euro2hr270513.png Size: 248 KB
twitter: @gettoefl
  • #801,856
  • May 27, 2013 8:30am May 27, 2013 8:30am
Quoting RussJ
{quote} They are trend lines but they are pretty useless as they are on a 5 minute chart (apols Ted Weller's are/These are 15 minute but weren't going to hold as it hit resistance at higher timeframe than the trend line supoport) But the area to pick up was 32/26 and we are all good as long as 26 doesn;t break to test 1.2984/89 but 73 will pose a problem The trend lines would be more valid on larger time frames.... for instance there is trend lines on the 4 hour at 1.2989 which would almost be the top for the day unless Asia takes it up and then...

there is no difference between higher or lower times frames except lower tf is faster. patterns repeat themselves exactly the same way on both TFs. the same rule applies for your S/R and trendlines too.
As Above, So Below
  • #801,857
  • May 27, 2013 8:42am May 27, 2013 8:42am
Quoting Pharm0r
{quote} I figured you were American. B/c you use Oanda
Nothing wrong with using Oanda, I also have lately FXCM
New voice message: Why are you calling me? If I need you, I'll call you!
  • #801,858
  • May 27, 2013 8:45am May 27, 2013 8:45am
Quoting suthmo
{quote} Make sure they not GMO

What is GMO?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #801,859
  • May 27, 2013 8:46am May 27, 2013 8:46am
Quoting tomspin
{quote} Well trending market does not require SL, just well capitalised account, and good initial entry point, I know what you mean but playing daily direction risk can be limited by entry from lower TF (1M/5M) with confirmation from H4/H1 - usually good entries goes in sinc in that way, unfortunately it is very hard to learn how to wait for them to unfold.Anyway it is all about risk if 100 pips works for somebody that is fine, I am just thinking it is a wrong place to initiate position in the first place.

There is not one thing that works better than the other, it all changes over time.... if you follow a trading rule for a long time you will loose...
The only thing that makes me money consistently (I think) is that I trade rarely, and that I am diversified...

Traders think that they "know" where the price is going..... I can tell you all that no one knows sh!t about whats happening next (consistently)...

However, trading with 1M/5M can save you some money initiating a trade sometimes but over time it won't, so it doesnt realy matter as it evens out...
Same with the spread....
  • #801,860
  • May 27, 2013 8:49am May 27, 2013 8:49am
Quoting Pair-me-up
{quote} No way. I was just in San Diego last Tuesday... took my wife shopping in La Jolla.. University town center. You know... the one with the indoor ice rink.
No way? What do you mean? And they have Ice rinks in several places here, but I'm too old for that stuff.
New voice message: Why are you calling me? If I need you, I'll call you!
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