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It's the only plan I could think of that was failproof SG. I'm not coming up with anything solid trading on my own. lol
I already had a bad scalp getting impatient. I'm out for now myself and watching from the sidlines. Later..
Not me pennies....I just want SG to trade my account for me with the understanding that in 10 years he gets 40% of my account value, but if I don't have 10 millions in my account by the end of the ten years, he gets strapped to a chair with his eye lids taped open and forced to watch the Disney channel 24/7 for the rest of his days. I will get his account plus what's left in my account. My plan is failproof 'cause I'm sure the Disney channel will still be here in ten years unless of course the world ends in Dec 2012.
Between Obama and Bush we middle classers and poor are screwed for sure git! I don't know which one caused more damage so far.
That's it for me too pennies. This candle forced me out. Have a good one and thanks for the ever welcomed input.
Great job of putting into words what I've been thinking and seeing for some time now git! The "perfect storm" has been brewing for well over a decade now imo. You must not forget to to add the desolation of the working classes social security retirement account by the crooked pens in congress and the inevitable desolation of the value of masses 401 retirement funds as you begin to suspect that there is an eroding and eventual forthcoming destruction of the middle class. I pray I'm wrong.
If corporate earnings decline, so do wages. If wages decline, so does consumer demand and thus corporate earnings. It's a great big circle jerk. The republican perspective is as flawed or more flawed than the "democratic" perspective. Real and true inflation has been rampant since you entered the workforce git and we both know it! The compassionate answer to decreasing national debt is to tax the wealthy at the same percentage rate which the middle class are taxed, eliminate all those fun tax breaks that Bush wrote into law, and treat corporate crime as blue collar crime. But we also both know that none of that is really going to happen. I'm no democrat, but I'll never be a republican. A little socialism is absolutely necessary, as is a healthy amount of sound economic wisdom from our leaders when governing our corporations, but this free for all with the retail masses at the mercy of both corporate greed and out of control government spending and control is leading toward third world type problems for our nation. Just my opinion.
I was actually in the profit zone their and had my chance. Now I'm under again. Sorry ass devils they be! lol It's kind of like riding an old rickety roller coaster, all you want to do is get off so you can get your balance again. lol
It's all about headfakes and the art of mental and visual war with these brokers or currency manipulators; that's apparant. They wear you down using long sidetrends or break levels and lines of support briefly to get you to doubt yourself. So many methods.
I've been watching it and crossing my fingers tightly! lol
Ok, that's what I thought you meant. A hammer and shooting star that were reversals of each other. Now to see if this is the end of the 5th wave. That's something I will never forget! Thanks for sharing!
But for how long....20, 30, 50 pips?
I hope it's a damn headfake!
It'd be nice to have seen a tweezer bottom or something really confirming here on the U/C 15 minute chart. Just a doji that fades in and out...
I don't see a hammer or a doji on my MT4 chart. I do see a doji that just disappeared on my marketscope chart though.
I'm taking the "dive" with you here. I don't like the feel of the waters, but I'm trading off the trendline and hoping I don't go under and eventually drown! LOL
I don't see it! You'll have to point them out when you throw up your next chart.
Oh you mean the blue HA hammer and an exact reversal blue HA shooting star right after it? Really!
I'd be happier if I was camping SG! I'm not losing anything but I'm not ahead today over yesterday so far either. I'd be doing better with a minimum wage job, if there was one to be found out there for a middle age male. lol
I do see the single doji. I also see that I could have had a lucky 10 pip scalp there, but maybe or even probably no more......the next few candles will prove it all out.
That's wise. eom
I also see where there were a couple hammer candles on the hour chart where your (1)-(2) ended and the new wave up began. We don't have any hammer candles here now on the trendline. In fact, the trendline hasn't yet been hit again for the third time on my hour chart.
Interesting. Normally I'd have already entered either as the price neared the trendline which it did, or on this current candle even right here.
Well I'm waiting for your confirmation, 'cause my plan would have been to enter here at this new bull candle just before it stopped, pulled back and never hit my entry again. lol
Ok...say but did we just miss the bottom? lol
I'd feel better about our odds if we had a couple three hammers here in a row at this trendline. How much overshoot nullifies the trade from here would you think? Still hasn't hit the trendline, but in event it does overshoot?
Yep, and because the trendline was still another 20 pips lower, I waited. That plus the MT4 HA chart.
I'll be watching for your entry, if you do. I do see the trenline and mine is a bit lower than yours based on candle wick bottoms, and we're almost there now; approximately 10 pips.
I had to bring up MT4 HA chart to see what you're seeing. My marketscope platform is different despite using HA candles on it.
If you take a trade soon based on these HA doji candles to give low risk entry, please throw up a chart showing what you see and why you took the trade. And show your stop mark too! Seems to me we still have another 20 pips or so to work with before there's a breakdown of near support. And there's definately a lot of shallow hesitation to the price action here.
Are you seeing a big DOJI candle? I'm using HA candles as well btw. I'm not seeing a reason to enter yet....
Ok, gotcha! As I type there was a hammer two candles ago, and one formed just previous candle and maybe one may be forming now.....so maybe there is a setting up here for another bounce then? Or are you seeing otherwise on the 15 minute?
Well pennies, if it does pan out, I'd like to see you throw up another annotated chart including the fib lines showing your safe spot for an entry based on those .78.6 fibs. I'm not quite visualizing it. I think I need to do a google study on consolidation patterns.
hey git......I wasn't about to hold anything overnight in this crazy environment. I did take one more long scalp before shutting down for the night though.
Frankly, I just don't see any reason to get excited about any long on U/C when looking at the chart on any time frame from quarter hour to monthly. Feel welcomed to share any enthusiasm for a long position that you may have though as it presents.
Thanks pennies for 1-2 (1)-(2) annotated chart. I was seeing it correctly, but unsure what to expect from a 3rd wave for length or duration.
I'm thinking I'll take another shot at a long if it reatraces to the .768 area. Might be I should have already stepped up and taken one at the support line that it just bounced off within the half hour.
Not looking good for any continuation of a bounce off bottom for U/C here. I've taken profits on all trades, but most are measily today. I'm just not finding the conviction to hold for more than scalping gains.
And what's more discouraging......E/C and G/C had better bounces off their bottoms!
I'd love to see that in an annotated chart pennies! I see your first two waves, but can't visualize the expected 3rd wave. What fib would you expect to see hit and how much lower would you expect to see the price go before any big move up would occur? The most recent bottom to U/C was set at approximately 50 pips below current price at .76052. Is that a good place for a stop loss order on my current long then?
I'd be happy to glean some of whatever pips that any intervention would yield if it were to actally occur, but that sure doesn't sound like there would be any bottom to the bottomless pit, does it?
I'd still like to see what pennies sees for a wave count here...
By the way, if this swissy QE doesn't work out as planned by the swiss bank, then real intervention would have to be applied I assume, and I assume it will be applied. So the question in my mind is how much longer will they allow the franc to move up before intervening? And, how much of a reversal could we expect once they do intervene? I guess I'm going to just add lightly every 100 pips or so until they do get the tiger by the tail, and then see what comes of it all, but this is the first formal authoritative announcement of a possible bottom to what looks to be a bottomless pit chartwise. I'd love to go all in here, and let the position ride for a few months, but I just don't dare! I just don't trust a reversal based on what my eyes are telling me when I look at the U/C chart.
Last nights pop allowed me to get a TP filled for nearly 100 pips gains on my UC long from yesterday afternoon. I wish I had TPs hit every night like that. Having read SGs article post, it seems there was no intervention but some form of "quantitative easing". But, the price action on U/C sure isn't responding to the swiss banks rate changes as dramatically as one would expect is it?
Throw us up a chart with a wave count Tony, if you have the time and don't mind? I just took a new small long position @ .76554, but I just don't "feel" like it's ready to turn yet based on the way the 15 minute chart is reflecting price action. I made $10 last night, only $518 to recoup from the last couple months trading losses.
I do see and agree and that's why I'm not taking my 20 pips profit here. I'm letting it run and hoping this isn't a wave 4 pullback on the hour chart. We shall see. I'll simply add if the bottom hasn't been set quite yet. It's got to be close to a good or "powerful" bounce off the daily though...