[B]TalonD[/B]
Sorry missed your other bit. I think after last nights up I shouldn’t have an opinion on anything but I am keeping my sell in place.
Looking like a Long position 1.6315 area on G/U…do a lil bit of rebounding =)
Going to keep examining it.
Mike G
Anyone else got input ona Long possibility with G/U?
Mike G
[B]Mgsupra101[/B]
You need babysitting…?:D:D:D
No offence intended. 
I’m out for the week but seems like it’s consolidating at the moment just going up and down between 1.64 and 1.625. I’ll probably trade a break of either of those next week.
[B]R Carter[/B]
That Oil spiking just now @NY open got me on the wrong side. :eek:
First time PA didn’t respect 63 & 200 MA pricelines. PA went straight through both MA’s and outer 3:30 BB on 5min and got my stop just outside outer BB.
Freakish…the way Oil moves @present. :rolleyes:
Ouch bet that was expensive… if it helps any I have had a pretty torrid week. Missed the huge up completely and have been grubbing around for table scraps ever since. 
[B]TalonD[/B]
That 1h GU ribbon has squeesed pretty tight! Altough it looks like a break north. 
Still holding onto that sell? I just enterd a sell in hopes it will drop next week. following the 1h strat this time and trying to keep my hands out of the 15m where I seem to get killed.
A brief bit of humor to finish off the week.
… where there’s condiments, there’s meatballs…
LOL
I know R.C. will get a kick out of that one!
Not at all sure about that sell yet Mike! Looks like a possible break north at this time?
SanMiguel,
I have been reading The Master Swing Trader By Alan S. Farley. And i must say that it is an interesting book for a neophyte like me.However, i have question for you culled from the book.What does the below bold message mean in the context of the paragraph?
Thanks
John.
“Support-resistance priority parallels chart length. Use this hierarchy to locate high-probability entry levels and avoid low-reward trades. For example, major highs and lows on the daily chart carry greater importance than those on the 5-minute chart. [B]As the shorter bars drift down toward the lows of the longer view, strong support exists for a significant bounce[/B]. These 3D mechanics also suggest that resistance in the time frame shorter than the position can safely be ignored when other conditions support the entry.”
maybe I’m about to get killed again then?
ok here’s a dumb newbie questiong for you and Cas.
It keeps going up and up, but you keep saying it’s about time for it to head back down.
so why are you convinced it will turn and head down and not just keep going and going and going on up?
is it fundamentals? indicators? what?
The way I understand that is that the SR on longer term timeframes is significantly stronger than any temporary SR line on a 5min chart. But you can time your entry from those SR lines on the lower timeframes.
Some SR traders do exactly this - they stick up a 4hr chart with SR lines all over it, then when price nears that SR line, they flip to a 5min chart to see what price is doing and then enter a trade.
Not much different to what we do here except the MAs help guide you in what price is doing at those lines.
Hey mike don’t shoot the messenger. 
I’m just looking at the 1h center line bollinger and it pointing north and PA hasn’t yet come over the top. The reason I think Cas and I keep thinking its going to come down is its unusual to get a 500 pips move in one direction without at least a partial retrace? Logically if I can say that about FX it should have retraced by now.
On the 4h “trend line SSD” strategy it looks like the bulls are still holding tight …
the price is still way north of the 20ma and SSD are running above 80 but flat…
I’m wondering if next week we could see more up side before we see down…
with a sell I feel like I’m bucking the trend. closed out the sell I had yesterday at a loss but made some back overnight with a buy, I thnk I’m going to close this sell that I’ve got this morning and wait till I see a clear crossover.
modified your ribbon a little, take away 2 or 3 of the longer period reds to get a little black space between them and the center boll. put in a yellow 20sma to replace the center boll, makes it easier to see.
I put a buy at 1.6356… I’m reaching… but following the 1h ribbon… who the heck knows? :D:D
It will come down.
I am more and more convincend that the reason for this up move is “unusual” buying of the sterling. As R.C mentioned it is very unusual not seeing a retrace after such a big UP move.
I reckon it is the central banks who are diversifying out of the USD into Euro, Sterling & Yen who are preventing a retrace.
But nothing lasts forever.
Take a look at Sept 24th 25th & 27th on the daily chart and you’ll see what looks like the other side of this big move. I think both moves are BOE related, right?
…Or else Goldman Sachs tweaking the market a bit!
There isn’t much that’s going to happen this afternoon though is it?