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Pennies, thanks a ton for your opinion. It looks like a good plan.
I am seeing lots of volatility ahead particularly on the monthly chart. The weekly and daily are pretty overbought right now, so I am thinking generally sideways and maybe down a little over the next 6-8 weeks or so. After that the picture could clear up. But I have made notes on my chart regarding 103 as resistance then support. Looking like it will re test 103 a time or 2 over the next few weeks. But your break of 103 looks pretty solid should it break up & hold.
Did a nice 24 pip scalp on U/J a little while ago. No more than turned on my computer, and it looked like an opportunity on the hourly chart using SG's new system. Worked once again like a machine.
Pennies, your the best. Thanks from stkjunky
Whoops, changed my mind and sold an A/U. Quite a few time frames looking overbought.
How is the trading tonight pennies?? Been a tough day for me, but did manage 2 low pip count trades. Had to help the neighbor fix a water softener/airator tank problem,so got distracted.
Kind of looking at a U/J long if the price touches the 481 (white) supertunnel trend line soon (15m chart).
Lots of shares available here at .016!! Why are you permabulls not buying up the cheapies??? OH, I know why, the trend is DOWN heading back into the hole tat it came from... Don't let them get to you Zzub.
Thanks pennies, much appreciated. I will try to get a better look at it also. 2 heads are better than one.
At least your A/U trade is with the longer trend. I really dislike trading counter trend, but hard to find much this morning that I really liked going with the trend.
OK. What is your take on the long term U/J?? When you have time & at your convienience.. I have been reading a couple of analyst commentaries and they are saying that long term, the U/J could go to the 120.00 range. Actually I think that would be more in line with the jap. economy, and would be a GREAT position trade. China should/is overwhelming the yen and likely will be for quite some time to come.
You are looking for quite a drop before entry on the a/u. Guess that I would take that trade also. Just about the time you departed for a little while, the A/U took of like a rocket, but did not last long. Could have been good for a quick scalp. I am looking at the U/J for a sell here and hoping for a whip saw like we got yesterday from helicopter man.
Got to many coals in the fire this morning. Been playing with the google chrome browser to try it out, but had problems logging on to my stock market account with it. It runns MUCH faster than IE, so want to use it, but still testingit. Also have been playing with setting up some charts using TDI & other indicators to coincide with the supertunnel for confirmation.
Have 10 posts left for the day now.
It's bouncing up here. Are you still waiting for another drop on the 5m??
I gotta be a little carefull with my posts or will run out early today.
News is a game changer. Weekly unemployment # better than expected, but not by much. MOST LIKELY reason is govt sequestor nocking people off early.
Good morning pennies. I would be carefull with a long A/U. I set it up using my long term trading system. Not telling me much other than it is pretty badly oversold long term, but can still drop more.
15M A/U using ST looks like it could go either way. But look back to yesterday's 15m chart and you will see a head & shoulders formation.
I am looking more at the U/J this morning for scalping. But not certian yet.
You're the one that mis interpeted the words. Not me. And yes, it is like cutting the grass and maybe even weed whacking. I won't waist another post on you guys. Good night.
"And wow, they spent 47K on mining in Q1"
No Malc, they spent 47k on mining PROPERTY costs.
BIG DIFFERENCE..
Yes, they are good, but I have found that they are certianly not 100% reliable as a stand alone. And when the trade timing and volatility changes, then additional layers of confirmation is definately needed to keep from getting tricked.
I have not had great success trying to set up day trading or scalping systems using clouds. But always figured the best money is in position trading. So focused primarily on daily charts.
I can scalp with my system, but it does not indicate very many trades.
I use TDI in conjunction with ichimoku clouds, and will not make a position trade no matter what the TDI is telling me, if the price is in the clouds. I wait for a breakout, and then when the mid channel keltners are spread way apart, and the TDI confirms a bottom or top, then I go in the opposite direction from the trend. And really love it when the TDI is pinching and offset on the parameters either high, or low.
Kind of a complicated system, but it really nails big trend reversals. Sometimes have to wait one or two days for them to develop, but the rewards are worth it. I mostly use it on the dollar/franc.
Interesting. Since I do use TDI, I will start checking this out. But I only use it on daily charts, and have used it for so long that I do not even remember if I am using the stock settings, or if I have custom fitted it to the couple of pairs that I predominantly trade.
Never have been very good at spotting elliot waves tho. Have tried a little bit, but just am not good at it. So kind'a gave up on it a while back. Found other ways to skin the fat cat's.
TDI is spreading out quite a bit. That to me indicates volatility ahead. Don't know what you make of it tho??
Made 2 short trades on the A/U news at 8 oclock and again at 9:30.
exited the 9:30 news trade just above SG'S 441 MA white line. Like this trading system so far.
Made 8 profitable scalps so far in the last 1 1/2 days using it. 5 on the A/U, 2 U/J AND 1 E/U.
Supertunnel seems to make it easier to find trades on different pairs.
And my underwater sell (mistake) A/U is looking better again. Need to make just a few more pips, and I can blow it out and write it off to the learning curve for trading a new/different system.
Helicopter Bens headlines. "Markets beginning to understand"
Like understand what??
Quote "fed will remain highly accomadative for the forseeable future" QE3 forever.
Got out of my buy E/U with 10 pips profit. Trade worked out quite well and could have taken 20 pips based on SG's methodology. But decided to hold longer to protect loosing A/U that I am in. Hope Ben's impact is now written into the markets.
Not realy a question super, but my bet is that he somehow pocketed the money without applying it to his differred compensation. Nice work if you can get it. Hidden fee for exploration expenses maybe. Unaudited financials work quite well for pinky ceo's.
I can not think of anything worth asking, because I no longer trust this managment to give an up & up answer.
Interesting pennies. Looks like you have your system pretty well dialed for scalping. I also use the TDI but have it set up strictly on daily charts. Trade mostly U/F & E/U. My goal is different than yours. I want to position trade for 200 - 1000 pips and am willing to stay in trades for long periods of time. The TDI set up that I use is really good at finding MAJOR tops & bottoms. I simply turn the MT4 platform off. Then just check it 1-2 times a day.
I also do have a scalping system set up using a couple of moving avg crossovers and a couple of mid channel keltners, in conjunction with the TDI big trend. But since my focus has been primarily position trades, I do not scalp very often, but that may change if the supertunnel works out well over the nest month or so.
Ran out of posts last night. Gotta go pay some attention to the stock market. Will check back in in a little while.
Nice call on those A/U & A/J buy calls pennies. I'm still in my E/U long and it is giving me a nice offset against my stuck in the mud A/U sell from a couple of days ago. Still think the A/U will turn & come back down at some point in time, so holding this.
Supertunnel as SG described his use of it worked like a dream come true on E/U buy this morning. Caught the spike up perfectly.
Good morning everyone. Just went long the eurusd based on simplegreens explanation regarding how to trade the supertunnel. It's the best fit (trend using 5 min chart) I could find this morning. Made 4 successfull scalps yesterday (E/U & U/J). A couple for 20 pips and a couple smaller ones, but was doing exactly what SG described in his explanation of how to use the ST. His post #120154.
Meaning, going against the trend, but not a super strong trend.
Simplegreen, am I correct here?? Is this a good pair for the moment, using the 5 min chart??
Just dumped my AU sell for 18 pips. Bulls seem to be rattling their horns and getting kinda upset, so better to be safe than sorry. Anyway, still have an out of the money sell in place if it drops further. Just gonna sleep on it and see what's going on in the morning.
AU sell looking good here for me. Also, U/J going up nicely, but not in that trade. Kinda thought that would happen on the news.
Yup, A/J still trending for some reason. Thought it would break with coincidentaly with the AU, but not happening.
AUD latest news just missed their expectations. Where looking for .6 & only got .2
Not much reaction yet in the currency, but not positive for it. Don't take this as a trade reccomendation tho. Just my opinion.
Just speed read the minutes for the jpy. They seem to be dreaming as usual. My take is that they badly need a weaker yen to accomodate their beliefs. But u/j treating it as a non factor. Also a/j not responding.
On another note, I just went short another trade on the a/u. So far, so good, but will see how long I am willing to hold it?? I know, against SG's trade direction recomendations, but no risk = no reward.
Yup, she just went thru. Did the right thing waiting. aj still trending on the 15m.
U/J looks interesting here. Maybe a buy, but not taking it yet.
I am comming close to being out of posts for the day, so if I do not respond, you know why.
That's good advice pennies. Been comparing a/u & aj charts. Look somewhat similar, but been thinking about another scalp sell au. It's still bouncing of resistance at around .9230 that coincides with the supertunnel 1000 fib level. Any break above and sell is off the table.
"I am confident that he already has offers but they aren't good ones. Scott knows what he has and as opposed to a bad deal he'll wait as long as it takes for a the right deal".
What is your confidence based on??? A good ceo would be able to NEGOTIATE a bad deal into at least a fair deal. This ceo has no track record of NEGOTIATING ANYTHING.
He is just a geologist and as such their past history accross the board make them BAD BUSINESSMEN. I should have heeded this knowledge a long time ago.
This stock will go nowhere untill a GOOD business man is found.
BIG miss..
TIC report this morning pretty much eliminates Bernanke's speach tomorrow. No way the fed can start to ramp down purchases & full steam ahead with the printing press.
That would be a really big spike & yes, helpfull. Will get back there sometime in the future. TIC report this morning pretty much eliminates Bernanke's speach tomorrow. No way the fed can start to ramp down purchases & full steam ahead with the printing press.
Not the news we been waiting for, but none the less another positive for nbri.
Scott should have had good jv on the shining tree property a long time ago.. Just makes me think that he really does not care much about aggressively persueing opportunity's. Or that he is so bullheaded that everything is his way or the highway...
Closed sell a/u. Made 21 pips, and still short from yesterday. Todays trade helps offset longer term loosing trade a little bit. Just gonna trade around the looser.
Thanks for the pips sg...
sold an a/u for a scalp 1 min ago. right under the fib line.
Sheesh, shoulda skalped A/U on the news. Maybe pullback has started. 15 min chart looks good.
Had to remove my keltner channels from SG's super tunnel set up for a/u. Just not working with this pair and the 15 min & 1 hr time frames. Gives out to many false signals.
SG, liking this super tunnel set up, even though I am negative on a trade right now. That was my mistake for getting impatient and wanting to try it out to soon, without test driving it first.
Getting interesting here. Thinking about putting on another sell A/U, but have to watch for a little while. News coming out of U.S. 8:30 might give indication.
Her is a recent quote from the forex factory board, from a pretty good trader. A/U
" It will be lucky to reach 0.93 given the resistance overhead. Daily 20ema at 0.9211 which it is tracking tightly, and the high of the downtrend channel (which has held since 1.04) is at 0.9260. Its failed to close above 0.93 three times in the last month, so whats changed when another interest rate cut is probably coming in August?
If it reaches 0.92 that will be a great place to get short for the next leg down to 0.87."
But then another guy says he thinks we are range bound between roughly 90.000 & 93.000
The bulls have me on the wrong side of the a/u now, but will wait a while (like maybe days) to see what happens. Price is bouncing at SG's mid line (1 hr) of his new system right now. Hope to see it hold there..
decided to leave rates alone. That's al I know about it.