aiks...lowyat...your GU....but it still might have a chance to bounce back

ooh..what i meant was...in stock market, too many factors could influence the price. heck, even the currency index is able to affect the stock market. Need to consider too much. By the time done studying, the trend might have already formed...

This post has been edited by small-jeff: May 1 2008, 09:35 PM

aah..it's another friday..so fast. EU just completed wave C..moving almost 200 pips

Would be interesting to look at UJ on monday, if today can break through 105.20...GU's drifting also seems to be exhausted...

wah..EJ EJ...possible violent drop to 160.50

GJ er...long time didnt look at it...spread it too high for scalping le ...yeah...seems like it's moving up too..haha..tomorrow saturday..can take break..

ooh...thought you entered position during the peak...

hmm..i still see GU is goin down...here is why

on weekly chart...

the price retraced on both of the 38.6% level, but was rejected on the vertical 23.6% level. Since then it has been testing to break through both 38.6% level.

on daily chart...

doesnt look too bullish to me either. However, i didnt look at RSI or Stochastic...but the price changed its support level and consolidated. Wah...but today bounce back quite high...

This post has been edited by small-jeff: May 2 2008, 06:26 PM

lol...my positions on EU, GU, UJ all open and closed in less than 2 minutes...shot up like a super rocket...

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Added on May 2, 2008, 8:41 pmhahaha...now see the price movement...lot of people are trying to join...most will be trapped...

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Added on May 2, 2008, 8:46 pmlowyat...had to agree with you...first time i see price can move 100 pips in less than 5 minutes...but you can try use higher leverage to scalp on the corrections to salvage some losses

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Added on May 2, 2008, 8:53 pmUS market just opened less than one hour...some jackass must be doing all this...

This post has been edited by small-jeff: May 2 2008, 08:53 PM

no le..if steel industry...i can help lar.. good good...cant wait for your comments...hard to find ppl to talk bout forex...all talk bout stocks

ooh...interesting...on the same monthly chart, i use low at Jun 2001 & high at Nov 2007. The High/Low before/on 1985 seems not so useful, as the market has adapted the price 1992 to 2001. But i dont look much on monthly..no money to swing that long

As for scalping (GU now is damn good for scalping), i look at the daily chart. The last bar on the chart i posted was an up bar. Seeing that prices shifted its support level and bouncing on the level, i place a position just above the support line, and "wait and see".

but anyway, if you're looking at a daily/monthly chart, then your SL should be quite high ba...yesterday only drop bout <200 pips..your GU didnt kena SL ba..?

ooh..what i meant was...In using Fibonacci, though using higher time interval shows more accuracy, but in this case of GU, from 1992 to 2001, the crowd have gotten used to the price, by means that it's no longer high or low. So, if using Fibonacci of high and low before 1985, the retracement level is not that much of reliable.

try to look at EU...if can, try to use Fib Fan as well..i found it to be quite useful..

aiks..i was going to say that EU will start its correction soon after hitting 1.600...Yesterday night's sudden movement was partially done by their central bank by buying more USD. So, the feds are rather desperate now. It would be rather hard for the price to go near 1.600 as it's a rather important phycological level of resistance, while the price is still in an uncharted area since Sep 1992 (high 1.4575). The next nearest extension level is at 1.8015...so if price does attack 1.600 again, firmly go long till 1.800

but i believe US will not let that happen le...if USD keep falling...the Japs will also cry...lol

if i were to trade on a monthly chart..i'll go short on 1.5390 and limit till 1.5020 or 1.5030.

This post has been edited by small-jeff: May 3 2008, 02:30 PM


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haha...yeah. The banks keep pumping in money...soon enough they'll have tonnes inside the bank with no where to run...then we'll see inflation. either way, USD up or down, traders still make money... earn USD, use in RM...hohoho

the other day my friend told me...he was using chartnexus, and he need to pay to use MA200...lol...you guys found those addon indicator packages useful?

hmm...i wonder if historical data will be of importance in forex...or until the year Euro comes out is good enough...

from the weekly chart...taking low at Aug07 bout 0.75, and high at Feb08 bout 1.95...the Fibs would be 50%@1.35, 61.8%@1.49, 76.4%@1.67

there was quite some congestion on Jul07. You see the upmove on early 08, it pass through the congestion zone with no prob. now the price is recovering, with the earlier upmove on early 08, it shouldnt have much prob passing this congestion area again.

As for the recent congestion at Feb08, that is also around 1.67, is about the high during Jun07 and May06. So the critical retracement level is 76.4%. If the high on Feb08 is a new high, i will sell it on 1.60 le...may be crashing down once hitting 1.67...the price would bounce around the intermediate MA first, before going 1.60

see the price move on mid Jan08, after reaching 1.67, the upmove actually shows sign of weakness le...the further extension is mostly caused by momentum...can slightly confirm this by looking at oversold at RSI and the lower volume..if you can find is there's any previous high/low..then better..try draw Fib Fan on the low in Jul and high in Feb..

dunno la...i'm still an amature on tech analysis...lol

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Added on May 4, 2008, 6:29 pmoh no...lowyat...i just downloaded chartnexus...look at the attachment. Both Fibs are taken on same high/low. I believe it would be rather bearish soon..this is why:

1) Candlestick: shooting star followed by doji

2) Bearish Flag formation

3) Resistance at 61.8% fan line

4) Lowering on both RSI and Stochastic while prices moving up

I dont think the price could reach 1.60 at all, unless there're any good news



This post has been edited by small-jeff: May 4 2008, 06:42 PM

here...edited the pic to show bearish flag...


hm..to me..smart people always knows where the direction of the chart is going de..they only make false BO to trap ppl so ppl will believe there's a reversal or something, after that, the chart will go back to its supposed to be direction...so, knowing the direction of the price, can sometimes ignore that there're smart money le.. IMO, usually flag is caused by market makers, giving false impression of reversal...but sometimes, a flag can become a reversal

haha..at least use RSI or Stochastic ba...you dont want long when it's overbought

haha...Fibs and Gann works in every market prices. I read through "Fibonacci and Gann Applications in Financial Markets - George A. Maclean", and also the ebook you recommended but i still havent really been able to apply Gann's tools yet

Fib fan is applied like Fib retracement. Usually i'll apply it in various time frames' high/low, both the vertical retracement and the fan together, then compare the retracement level of different time frame. From there, you'll see how easy/difficult is it for the price to make its directional movement. However, Fibs are only good when the market is rather volatile or moving relatively violent (IMO lar)..if the price is channelling; sideways, bearish of bullish, not so good to apply..

hm..tomorrow took leave...see how to trade during day time..hahaha

efit: lowyat..can understand what i explained ar? i read back...also feel confused myself..lol

This post has been edited by small-jeff: May 4 2008, 11:52 PM

the fan part...

you also very strong ar...here trade forex...there trade stock... aih..tomorrow looks quite difficult for EU and UJ

anyway...if you're interested in the book, pm me your email ba...

This post has been edited by small-jeff: May 5 2008, 12:33 AM

go for brokers that have ready made indicator packages, then let it automatically trade for you, and you'll be millionaire soon... forex very easy to earn money

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Added on May 5, 2008, 5:48 pmlowyat...why the chartnexus still at 2/5/08 ar? wont update one? or have to wait till the market closes first?

This post has been edited by small-jeff: May 5 2008, 05:48 PM

lowyat...your ramunia still open ar? another doji leh...the attack on the 61.8% fan has failed


This post has been edited by small-jeff: May 5 2008, 07:17 PM

yeah...bad sign...haha..this thread should change to TA+FA thread

the down move has already completed. It would be rather difficult to pass through the previous congestive zone. Price might rally a little or direct rebounce, and consolidate until breaking any resistance/support.

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Added on May 5, 2008, 7:51 pmand can you stop advertizing Forex Killer?

This post has been edited by small-jeff: May 5 2008, 07:52 PM

what is H and S? lol...

If EU can break through 1.5470..it might go bullish...but for the time being...still bearish.. USD go strong good...more RM...hahaha

lol...i totally missed out on H&S...you're good at spotting patterns

but i think it would be short lived (up move)...immediate resistace at 1.5515...

This post has been edited by small-jeff: May 5 2008, 08:51 PM