PA, S/R, ZL, EXTREMES & MOMO

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jarnapal
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Postby jarnapal » Thu Mar 03, 2011 10:23 pm

karol wrote:Number 4:
And how it looked like on 1h:


Image


What do you look when you draw these s/r lines ? I keep drawing then at wrong places :)

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Humble
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Postby Humble » Fri Mar 04, 2011 1:49 am

The idea is to draw them according to your own understanding of the teachings of Chairman MO.
Is price closing higher or lower than something? Simple yet powerful question. ..MO

FXfreak
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Postby FXfreak » Fri Mar 04, 2011 7:28 am

good morning!

my ideas for today: i think 1.4 is a magnet and market wants to move to that big round number. we had on the other side two wonderful bullish days which scream pullback. i would wait for a pullback and go long. and/or short near 1.4.

same procedure as yesterday :-)

i see the following levels as possible buy-zones. if anybody is reading my posts please comment and feel free to discuss with me. i feel a little bit lonely in this thread during the european session ;-)

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Last edited by FXfreak on Fri Mar 04, 2011 7:59 am, edited 1 time in total.

FXfreak
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Postby FXfreak » Fri Mar 04, 2011 7:48 am

today is nfp which means that the euro-session will be very quiet. i expect a range.

buy low, sell high :D

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Jalarupa
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Postby Jalarupa » Fri Mar 04, 2011 9:48 am

Image

Trading Extremes... Hoping for some dollar strength to carry me lower after the NFP... lets see...

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newscalper
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Postby newscalper » Fri Mar 04, 2011 12:35 pm

I'm looking at this on cable. Saw the potential for the long earlier but again couldn't get in. Now looking for short.
On the 4hr the red lines show a fat cat zone. Waiting for PA confirmation on 15 min to get in LOL

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newscalper
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Postby newscalper » Fri Mar 04, 2011 1:46 pm

And here we go, entry would have been at the blue line, only this was slap bang in the middle of NFP and there's NO WAY I'm trying to enter at that time.
So that's ZERO trades on for me this week as the only one to pull back to my line was there. Getting a bit frustrated!

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newscalper
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Postby newscalper » Fri Mar 04, 2011 1:47 pm

So what now, chase the market and try to get in at the next zline (CC low), or scrap the idea. I'm inclined to stay out, yet again!

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Postby FXfreak » Fri Mar 04, 2011 2:22 pm

I tried this long. Will close it at be or at end of session.

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ajaymein
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Postby ajaymein » Fri Mar 04, 2011 4:21 pm

The EU 5m chart is lovely this morning... Dolar_Smile

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