PA, S/R, ZL, EXTREMES & MOMO

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Humble
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Postby Humble » Fri Mar 25, 2011 2:42 am

newscalper wrote:That's more my style too and a few others here - ES is the master scalper :D No way I could do what he does.


Same here, but I always like seeing how he reads the PA. His dedication is incredible, a 17 hr day sometimes.

Pro's comments were a bit unfortunate because he has been here long enough to know es/pip is the real deal.

Just hoping es/pip will stay long enough to show how he adds to his swing account.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

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newscalper
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Postby newscalper » Fri Mar 25, 2011 8:10 am

Still holding EU short on the third attempt (-5, -25), they're all calling long on Forex Factory, which hardens my resolve for short :lol:

I see as I type it's just breaking out of the overnight range south. Let's see how far it goes.

Must look at GU as that was still in the range. Looking for a quick short on USDCAD but that's nearing the bottom again.

Not looked at dollar index but if I was a betting man I think it will be somewhere near support??

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newscalper
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Postby newscalper » Fri Mar 25, 2011 8:53 am

:lol: :P :lol:
I love that site, they're arguing about price levels now: "Support is at 1482", "No it isn't, price never went to 1482, support is at 1684". Do they not realise that all brokers quote different prices, whether bucket shop or ECN?

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adaseb
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Postby adaseb » Fri Mar 25, 2011 9:01 am

newscalper wrote:Still holding EU short on the third attempt (-5, -25),

Not looked at dollar index but if I was a betting man I think it will be somewhere near support??


the DX is comprised of 6 different currencies all against the greenback. The euro is almost 50 weight therefore on a day to day basis it trades almost perfectly opposite of eur/usd.

there is no way you can base a usd/cad trade off the dollar index.

the DX is good when trading the euro because when a fib line or support on the euro is not held, that similar resistance might hold on the DX index.

This entire euro sell off that started around 1.4250 was because DX hit a major trendline support area.

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newscalper
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Postby newscalper » Fri Mar 25, 2011 9:03 am

I know. I gave someone that piece of information in this very thread a couple of weeks back. I'm not basing a CAD trade on the DX, I didn't say I was basing a CAD trade on the DX, although it may look that way how I wrote it out, I was talking about shorting the Euro :D

All DX does is give some indication of dollar strength/weakness and where the money is flowing. Trades still need to be based on the technicals of the pair you're trading. In fact I hardly ever look at it. All I was saying re thinking short Euro was "What's the betting DX is somewhere near support too?" Lo and behold cable broke out short too, shame I didn't get on it. Waiting for pullback.

Could go long now up to it from this swing low actually. Need some momo first though. Hmm :twisted:

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paweldobkowski
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Postby paweldobkowski » Fri Mar 25, 2011 9:53 am

EU

SHORT @ 1.4158

Shitty PA

paweldobkowski
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Postby paweldobkowski » Fri Mar 25, 2011 9:58 am

out with +4 : |

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Postby paweldobkowski » Fri Mar 25, 2011 9:59 am

out with +4 : |

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es/pip
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Postby es/pip » Fri Mar 25, 2011 10:03 am

will post yesterdays, asia last night and todays charts when i am done



been scalping eu

put on a long on gu h4 dbl bottom

going to try and hold that all day------ daily demand area
Bend over and assume the position for another 4 years of hope and change.

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Postby es/pip » Fri Mar 25, 2011 10:18 am

.6185 on that


d1 shoulder

s**t it may go to it now

lol
Bend over and assume the position for another 4 years of hope and change.

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