While I posted, 1172 was hit. Now we see if it holds:
Thursday, March 25, 2010
Patience or Swift Trading?
I just know that this streak is going to break in my favor - it is a matter of time. If I were a swift enough trader, I would have exited and entered positions up and down this last 12 months. Reality is that I am not swift enough. So instead on days like today, I remain patient while everyone else panics. You can feel a top in the air. The final throws off this rally are underway. Look for big selling waves into the frothy bull mania. You can see it now if you watch the blocks carefully.
While I posted, 1172 was hit. Now we see if it holds:
While I posted, 1172 was hit. Now we see if it holds:
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13 comments:
What a day, what a day.
Sticking and adding to my huge full shorts, although underwater, but a nice scalp to boost confidence. However the reversal erased the daily profits only, I find it disappointing as I like to see a real trend change. And holding.
Tomorrow will be another big decision day.
Good luck!
David , patience paid today, fer sure
So we now have what looks like an filled exhaustion gap , RSI and MaCD
showing sell on the Daily ,
CCI and Stochtastics showing sell on the 240min ,
Looks like an ED , point one on 3/17
2 on 3/22 3 on 3/23 4 on 3/24 todays high 5 , with by the book throw over ,
( thats why it was looking like a triangle, it kinda was :) )
ED by the book happen when the market gos to far to fast , (check that) .
The pattern would call for a correction to the start point 3/15 at 1142 ,
follow threw now follow threw .
The $ , looks totally like its in wave 5 off the Nov low , but what is its not 1-5 ? what if , its a 1,2 1,2 and we are in 3 right now ?, Rsi toped at 77 on the daily on the 2 previous tops off the low ,
if the currant leg rsi moves higher , it could be a sign its wave 3.
Thoughts ?
David , and Paulus here is link to and video of a forex lady laura
and her take on the $ , her voice is much more interesting than mine :)
http://www.youtube.com/watch?v=J_2w35EeD8M
Paulus , nasty whipsaw today , yes friday is a big day
Nice find Payline. I like here analysis and presentation style. I tend to agree with here short term dollar analysis - not sure about the big picture though!
Hi David , I almost said skip the first minute , of the video , but she has a great voice :)
Still undecided. We are in unchartered waters.
Could even be the end of the cyclical bear and the start of a secular bull, as someone wrote today.
I'm still loaded with shorts, euro index came down 0,06% so not to bad.
i guess there is less upward potential.
But once again S&P very resilient.
What is you take guts?
Still holding positions?
guts? guys that is.
But guts you sure need!!
Paulus , my gut doesnt know , lots of un-know ,
I am interested as to Davids view as always .
On the $ I " Think " we are in a wave4 down , with one more up to go
b4 it really corrects .
I dont think it will go as high as the video I posted here , but it has some upside ,
Long the Euro and Short the $ will
be a nice trade very soon . We will talk more about it as the time comes
Yeah we talk here every day, our host being absent most of the time, graciously offering hospitality.
Thanks Pay. Very interested in the dollar/euro trade timing
have a great weekend!
Hi Guys , The triangle I thought was forming ( and then didnt ) seems to have formed , a trust to new highs is what I am looking for .
A break of 81 will confirm the $ is done moving up and will correct . to something under 80.
Good Luck , but it sure looks like we are 12?? bound
You are damn right Payline.
But for some reason I am not able to go long.
The world is gone crazy and I'm caught right in it.
My index is up 2%+
Happy Easter everyone !
U2 pay! & dave
thanks
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