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Looks like they might aim to fill the gap today then maybe a pullback to reload.
Short EJ at top of channel
How about one of those big panels that you put in the back window of your RV so you can see what's behind you?
Hey Qui, my Oanda demo is showing a gap down premarket on GU to 1.5760
Beastie
Why don't you like it?
Pennies, I wonder if you can shed some light on something that I would suspect many of us are curious about. It has to do with the TDI. I have included a current EU 1 hour chart for illustration.
Notice during today's price action how the fast line rose with price from the 50 line. After price topped out, we had about a 50% retrace of the area shaded in orange, and yet the fast line went right back to the 50 line. WHY?? If you don't know that's OK. Just curious.
GU
I see we had a hit on the 88.6 retrace from the rally to 1.5890 today so hopefully it's ready for the climb to 1.60.
I don't know COOL, bankers and politicians are from the same bloodline. The ones that make it to the top where they call the shots are all shysters,,,IMHO. And then,,on top of that,,you have the Market Makers waiting to steal your money.
Gotta have balls of steel and manure for brains to play this game! LOL
You're asking ME? HMMPPPHHH!
BARTENDER,,,,,,,I'll have another double
Apparently the BOC Monetary Policy Statement is not being well received.
Beastly you may be sir, but kind-hearted and focused to be sure.
We are all like minded individuals with an array of approaches to a common goal.
OK, thanks
I'm really intrigued by the Goodman count pennies. I have a question about the Goodman Daggar. Is the second bounce typically higher than the first, and does it matter which is higher as long as the other guidelines are not violated?
GJ H4
I see a lot of negative divergence in the TDI comaapred to price action. This could be Dean Malone's "hidden divergence" pointing to continued trend movement topside.
OR,,,it could mean the market is weakening and we're going to see a big drop.
EJ has the same set-up. I am not in a position to say with any degree of certainty which way she'll go.
I'M SO CONFUSED!!!!!!!!
Hey Qui, sorry I haven't replied. Been away for a couple of days. I'm unable to PM but you can email me if you like at pileit11@yahoo.com.
Put greenroom in the subject line or I probably will ignore it.
EJ H4 expanded
I agree with your analysis estimator, but take even another step back and look again.
We have a higher high but with negative divergence on the TDI tops.
Additionally, we have a run of higher price action with negative divergence of lower dips on the TDI.
So what does it mean? Well we see a good example of the HIDDEN DIVERGENCE that Dean Malone talks about in this video:
http://www.compassfx.com/video/ip/11613/11613.html?inf_contact_key=15882f7e4e4c36373a3e18635fcf60c505ca0a88e231b82e68a660a870c0be83
Then we had a strong push up breaking outside the channel but retracing almost to the bottom of the channel and then bounced making a higher high in price but a lower high in the TDI.
I'll be looking for a retrace to 120.55 88.6 fib and then work back to the lower trend line. 117.50ish
Yep, you were right. What is your target?
Aussie inflation and employment news tonight 7:00 and 7:30 EST.
Moved SL to break-even.
it's been a while since EJ actually filled a gap.
I know how you feel BB. I started with 5000 a little over a year ago and I'm currently at 2200. I managed to hold steady around 2600 the second half of last year but took a hit when they started playing with the Yen. Most of my trades are 1 mini-lot with pretty tight stops. I'm determined not to let this beat me.
No problem. Pennies had mentioned that it really didn't matter much which swing you used because the fibs would tend to line up anyway, which would seem to be the case here. I started about a year ahead of you as far as placement is concerned, and with the sub-box, the price lines up almost exactly where yours does. HHMMMMMMMMMMMM
Pennies, at about the 8:00 point in fib video 2 you are talking about feeling like there was a pullback imminent and were explaining about the wicking candles signaling possible reversal. Another thing I noticed was a classic "hook" in the fast line on the TDI which is another good indicator when price makes a fast, sharp extended move.
There's always a trade-off isn't there.
Hey SG, got another question.
From your first post to my request for critique:
Hell pennies,,,no one here is qualified to disect your methodology,(except SG) not that we would. Like boca said, we're here for a common goal, to make $$$$$. We missed you last week.
How did you make out on the yen pairs last week?
Well I've had a chance to look more closely at your info. The first chart I set up used the swing at the 1.42 level but I thought that was probably too far back. I have one question (for now). When you enter your trades at suspected turn points, what is your SL set at? I figure 10 pips or so? If it doesn't do what you expect it to, hold yourself to a small loss and wait some more.
Thanks again for your time and effort.
Thanks for your detailed information SG. I'll look it over more closely later when I can get to my computer.
Hey SG, been reading over your posts on the SG FIB METHOD. I would appreciate your input on this chart. Is it set up properly?
I'm not sure if I understand at what points I should look to take the trades. Please expound on these "TRADE POINTS" with the understanding that I realize that price action dictates.
China news in an hour.
Funny,,,you don't look drunk.