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  • #3,841
  • Apr 6, 2014 6:10am Apr 6, 2014 6:10am
Quoting tlpfx14
{quote} imho crude oil is seemed ready to move north next week due to the PB closed last friday. she in fact made a pull back 2-3 weeks ago, based on 20 MA, before the PB. http://www.forexfactory.com/showthre...01#post7386201 i can't seem to get the bottom chart of yours in mt4? is she an index? cheers
It's West Texas oil. A lighter grade of crude, not an index.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #3,842
  • Apr 6, 2014 5:52pm Apr 6, 2014 5:52pm
Quoting tlpfx14
{quote} i can't seem to get the bottom chart of yours in mt4? is she an index?... cheers
Can you point me to the chart you are talking about?

Olu

EDIT: It has been answered by Vox Dei. Thanks Vox. Thanks TlpFx
If you think you can or cannot do it you are correct
  • #3,843
  • Apr 6, 2014 6:02pm Apr 6, 2014 6:02pm
Quoting formaxinvest
Hi Olu great analysis. To support your EURJPY idea, Im adding possible Gartley setup forming on daily chart. if this pattern will play out, we could possible see area D around 133.50 as long term target for shorts regards Formaxinvest{image}
Thanks for your chart Formaxinvest. A friend of mine uses gartleys a lot successfully. I now have another friend that uses this technique. Perhaps you could post a link to some good general reading on the subject when you have the time. As per eurjpy I sure would like the gartley to play out

Olu
If you think you can or cannot do it you are correct
  • #3,844
  • Apr 6, 2014 10:09pm Apr 6, 2014 10:09pm
Quoting Olu
{quote} Can you point me to the chart you are talking about? Olu EDIT: It has been answered by Vox Dei. Thanks Vox. Thanks TlpFx
Quoting vox dei
{quote} It's West Texas oil. A lighter grade of crude, not an index.
Mates:
So there are 2 types of "oils" to trade for.
Just knew the WT oil.
Thanks
  • #3,845
  • Apr 7, 2014 2:17am Apr 7, 2014 2:17am
Quoting tlpfx14
{quote} {quote} WT oil...
talking about oil. it is behavng itself right now...

Olu
If you think you can or cannot do it you are correct
  • #3,846
  • Apr 7, 2014 8:13am Apr 7, 2014 8:13am
Crude Oil
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If you think you can or cannot do it you are correct
  • #3,847
  • Apr 7, 2014 8:14am Apr 7, 2014 8:14am
Quoting Olu
June Hogs {image}
We have another limit down day today and I am not able to board this south bound train

Olu
If you think you can or cannot do it you are correct
  • #3,848
  • Apr 7, 2014 8:20am Apr 7, 2014 8:20am
Euro.
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If you think you can or cannot do it you are correct
  • #3,849
  • Apr 7, 2014 12:29pm Apr 7, 2014 12:29pm
Quoting Olu
{quote} Thanks for your chart Formaxinvest. A friend of mine uses gartleys a lot successfully. I now have another friend that uses this technique. Perhaps you could post a link to some good general reading on the subject when you have the time. As per eurjpy I sure would like the gartley to play out Olu
Hi Olu, will do so soon. I discovered gartley and other harmonic patterns for myself lately, so Im the real beginner hereFormaxinvest
  • #3,850
  • Apr 7, 2014 3:37pm Apr 7, 2014 3:37pm
Quoting formaxinvest
{quote} I'm the real beginner here...Formaxinvest
That is fine by me. We 'll be beginners together and develop some skill. I understand it has elements of fibs in it and I already apply fibs in my basic EW. So what I am seeing is applying this to larger timeframe charts to catch big time reversals and trends.

Olu
If you think you can or cannot do it you are correct
  • #3,851
  • Apr 8, 2014 8:34am Apr 8, 2014 8:34am
FXCM Dollar Index
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If you think you can or cannot do it you are correct
  • #3,852
  • Apr 8, 2014 8:41am Apr 8, 2014 8:41am
UsdCad
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If you think you can or cannot do it you are correct
  • #3,853
  • Apr 8, 2014 8:48am Apr 8, 2014 8:48am
usdjpy
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If you think you can or cannot do it you are correct
  • #3,854
  • Apr 8, 2014 3:21pm Apr 8, 2014 3:21pm
Quoting Olu
FXCM Dollar Index {image}
I'll remain bearish on the US$ until the fundamentals change. US based companies have decent earnings but until the government does some serious cost cutting (not likely with partisan politics) we're headed for real problems at some point. The amount of debt is going parabolic @ you know how those charts usually end. Consumers aren't going to continue to bail out the crazy spending either (via more taxes) as they just hit $3.3 trillion in debt also, a new record amount. Where, when & how it ends I don't know. We won't even be able to pay the interest on the debt & more countries are slowly getting away from using the US$ as the reserve currency.
  • #3,855
  • Apr 8, 2014 5:04pm Apr 8, 2014 5:04pm
Quoting srt
{quote} I'll remain bearish on the US$ until the fundamentals change. US based companies have decent earnings but until the government does some serious cost cutting (not likely with partisan politics) we're headed for real problems at some point. The amount of debt is going parabolic @ you know how those charts usually end. Consumers aren't going to continue to bail out the crazy spending either (via more taxes) as they just hit $3.3 trillion in debt also, a new record amount. Where, when & how it ends I don't know. We won't even be able to pay...

I agree with you Srt. Another currency that I think is weak is the CAD. Could even be weaker than the $ as things unravel imho.

Olu
If you think you can or cannot do it you are correct
  • #3,856
  • Apr 8, 2014 5:27pm Apr 8, 2014 5:27pm
Quoting Olu
Crude Oil {image}
did you manage to get out in time as the crude oil surged yesterday?
she rebound at 100.0 and broke 102.0
http://www.forexfactory.com/showthre...05#post7392005
will she be going to 105.0?
i am watching it closely
cheers
  • #3,857
  • Apr 8, 2014 5:50pm Apr 8, 2014 5:50pm
Quoting tlpfx14
{quote} did you manage to get out in time as the crude oil surged yesterday? she rebound at 100.0 and broke 102.0 http://www.forexfactory.com/showthre...05#post7392005 will she be going to 105.0? i am watching it closely cheers

Thanks Tlp for asking. No big damage done I had a tight stop on it. Gunning foe 105 sure is a possibility and if that level is overcome its back to the drawing board for my thinking on crude. Right now I am flat. on the whole Crude oil has given me a smacking. Out of 6 trades I won 2 and lost 4.

The first chart is the weekly chart and the second one is a daily one timed at the time of this post. The massive long legged doji on the weekly is the elephant in the room but price is encroaching on it right now. On the daily the clear break of the 102 area is seen and undoubtedly this is bullish even if we just do an abc up there is potential to the upside to the 104 area.
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If you think you can or cannot do it you are correct
  • #3,858
  • Apr 8, 2014 5:56pm Apr 8, 2014 5:56pm
Quoting Olu
{quote} Thanks Tlp for asking. No big damage done I had a tight stop on it. Gunning foe 105 sure is a possibility and if that level is overcome its back to the drawing board for my thinking on crude. Right now I am flat. on the whole Crude oil has given me a smacking. Out of 6 trades I won 2 and lost 4. The first chart is the weekly chart and the second one is a daily one timed at the time of this post. The massive long legged doji on the weekly is the elephant in the room but price is encroaching on it right now. On the daily the clear break of...
I think the reasons for staying strong are the Ukraine tensions & the weak $. Otherwise I think it would be lower along with equities.
  • #3,859
  • Apr 8, 2014 5:58pm Apr 8, 2014 5:58pm
Quoting Olu
{quote} I agree with you Srt. Another currency that I think is weak is the CAD. Could even be weaker than the $ as things unravel imho. Olu
Yes Olu, I'm surprised the CAD is so weak. I don't follow their economy that closely but I view it as pretty decent & usually tags along more with Oil so should be stronger. Not sure why so weak.
  • #3,860
  • Edited 6:27pm Apr 8, 2014 6:07pm | Edited 6:27pm
Nat. Gas:

I'm not watching charts during the day right now so I'm using a scale-in strategy on nat. gas. Position #2 hit target yesterday so just one position now with an add at lower levels.
No SL, just targets & add entry orders. Right now it's the market I feel comfortable using this strategy. I'd be willing to do the same with corn now too but I've been holding several bullish option positions for a few weeks now so not adding. A big USDA report out tomorrow for the grains.
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Click to Enlarge Name: US Corn(Daily)20140408192706.png Size: 44 KB
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