Originally Posted by pipsquito
And how does price “prove” the decline is over?
Higher highs, lower lows.
Simple yet possibly effective.
Did someone said the decline is over?
Looks like she is trying to form an ascending triangle on the 15m M2P chart.
Which could signal a pretty kick a$$ run up for me, Todd, and whoever else is actively holding live longs.
Who said that?
Just checking, I thought so, was gonna ask what chart they looking at.
I hope your not pointing the finger at me.
I’m worthless.
It could be over yes, no one knows where the next pip will go.
That or a symmetrical triangle:
H-L-H-L: 207.20 - 202.55 - 205.17 - 203.58 - ?
The question is whether 204.56 is now an H, or if price moves higher to break resistance in the 205.15-205.30 zone.
Too much noise on the 15M for me these days.
Andrew, you’ve [I]got[/I] to write a book!
An e-book at least … I will help you market it, it should be a best seller
Too much noise on the 15M for me these days.
That’s why I like M2P charts, the 15m is like looking at a normal 4h - daily but shows you all the essential noise.
That or a symmetrical triangle:
H-L-H-L: 207.20 - 202.55 - 205.17 - 203.58 - ?
Oh ok, go one leg back and it’s more of a symmetrical. I didn’t see that.
H-L-H-L-H-L: 207.20 - 202.55 - 205.17 - 203.58 - 204.56 - 203.76?
This type of consolidation sometimes happens during Tokyo, but the pattern ends busted because there’s no momo for the break and by the time Europe comes on the moment is past. Anyone trading the pair ought to be watching this crest/trough series for further direction, though.
Where is Elijah? Cornered in the barn by two rabid alpacas??
Holy crap… I swear this is no lie. I was about to make that exact same post about Elijah hiding in the barn with alpacas. No $hi, you gotta believe me.
Come on Elijah, come on out. It’s safe to play.
As for me. I’m drinking beer and listening to Baby Face. So I could care less about the guppy right now.
I bet I will care in about three hours though.:rolleyes:
I feel like I am chasing ghosts here…my account technically is gone…all in the drawdown, but the balance is still intact. It is like looking for something that isn’t really there…all on the assumption that when the guppy goes up, “as we all know that it will” my money will become real again.
I saw today that that WAS possible, when it made its little run up I did recover a bit, and let go of some more longs, and beefed up my equity. But tonight I am in pretty much the exact place I was last night…like held up prisoner in a fortress expecting the onslaught of goblins to begin any moment and preparing to fight tooth and nail for the little bit of cash I can preserve.
Right now my hedge is holding up, but of course if the guppy goes up without me letting go of the short hedge my drawdown just sits there never going up or down. I have to strategically let go of the hedge short, hopefully before it becomes a negative trade, to take advantage of the run up. Its like jumping off a racing freight train onto another train going in the opposite directin. And I can’t be faked out too many times either, I don’t have the equity to keep putting that trade back in place. Sheesh. It is a difficult situation. And of course this siege could last for weeks…or forever…no guarantee this thing will ever go back up.
Yeah, where is Elijah??
A new lower high @ 204.46, to the pip on the descending trendline of the triangle. Would’ve been some good pips trading inside, but the consolidation is either going to flatline into Europe, or break on the next 15M candle or two.
Break where? Ha ha. Now I sound desperate. Not too professional huh?
Ok… A non forex post (like I’m known for that:p)
My wife has all this music on this ipod thing, and, I don’t mean $hi cookie cutter music either. It is great. I am taking the day off manana. I rarely do that because I work all the time. But this is awesome.
Jim Croce now… Kiss my a$$ if you don’t like that.
Ok… I will stop now.
London open right around the corner. Wake up, wake up.
Hey, I’m here…guarding my few remaining grains of corn like a rat.
Glad you’re enjoying your music. I need a beer…