hm..lets look at the US Dallor Index (USDI) first...the high is a 7/2/08 and low at 17/3/08. It's attacking the 50% level. Chances of reaching to the 61.8% is relatively high.

Now...lets look at EU chart..Opening of next week till mid week may see the pairs to go bearish..now it's hovering around 1.5454, next target would be 1.5105 within next week...however, main target will be going down to 1.5226...

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Added on May 10, 2008, 7:09 pmi'm a newbie...

This post has been edited by small-jeff: May 10 2008, 07:09 PM


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calm down guys...why being so hostile?

@kotarosan:
you're always welcome to give your views on the market...what do you see on EU, if you dont mind sharing?

@kotarosan:
i prefer to scalp myself. Though i have yet to trade live, i dont think getting 100 pips per day is that hard to maintain, depending on how many pairs you're trading on.

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Added on May 10, 2008, 8:23 pm
good for you
sadly..i dont use much of indicators

This post has been edited by small-jeff: May 10 2008, 08:23 PM

yeah..it's damn boring to wait 100 pips comes to reality. For some reasons, i stopped trying to get 100++ pips per day.

ooh..there might be a solution to it. I think CMS provides free mobile quotes (with charts, maybe), so you might use it if you're out, and call your broker when the price is acting weird its a 24/5 job anyway

IMO, the only time i really need to sit and look at the screen is 4-5pm and 8-9pm..

This post has been edited by small-jeff: May 10 2008, 08:56 PM

then what can i post here?

i was saying that to someone else as i always asked how was his trading

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Added on May 10, 2008, 10:18 pm

long time no see bro..good to have you back!

just my little thoughts bout GJ...it might reverse and head towards 203.33

edit: after moving up to 202.27, bounce back down to 201.06, then head up to 203.33...forming last 3 waves of EW...

just my 2 cents

This post has been edited by small-jeff: May 10 2008, 10:37 PM


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ahhaha...always going opposite with you lar...

maybe you post your chart...discuss what you see...

btw..i'm not trading on GJ..

ooh...yeah...like that it does look like it's going down...hmmm....

lets just hedge...

hmm...are these differences between stock and forex:

In stock (whatever kind it is), if there's a buyer, he/she needs a seller. Similarly, if there's a seller, there must be a buyer as well. Problem arise when one wishes to sell, but there's no buyer, and vice versa. So, the price must be adjusted.

in forex, traders and banks are both buyers and sellers. Banks are sell currencies as well as buying them. Both could make them profits. So, there isnt much problem in the process of trading.

basically, the principle of supply-and-demand is different. Did i get it right?

anyway, lowyat, IMO, if you're trading intraday, there's no need to look at logarithmic charts, unless you're looking at 20 over years of historical charts (though its important) and swings on yearly... IMO only lar

a little on fundamentals...these are the headlights news, that i think might be important to know for next week:

1) Massive Bank Losses And Write Downs Drag Risk Appetite And Carry Lower (Source)

2) US Dollar Consolidates As Oil Tops $126 (Source)

3) Japanese Yen Pairs Primed for Volatility, JPY May Gain Further (Source)

4) US Dollar: US Retail Sales Could Get A Surprise Boost on Tuesday - Why? (Source)

Reports coming out (local time):
13/05/08 12:30AM - GBP Retail Price Index
13/05/08 04:30AM - USD Advance Retail Sales

14/05/08 12:30AM - GBP Jobless Claims Change & ILO Unemployment Rate
14/05/08 04:30AM - USD Consumer Price Index

15/05/08 03:50PM - JPY GDP (1Q P)

yeah... 1 2 3 4 5 - a b c
what's interesting most is, what'll happen after c...

hmm...sometimes it's rather hard to predict whether it'll be a wave 3.. it might eventually turn out to be a channel, unless there's clear R/S far away...usually i only enter position after forming wave 3...

wow...sharp fall on EU..now low at 1.5365...lets see if it can reach to 1.5226...on GJ however, the up move seems to be relatively weak..lets see if the price could close higher than 201.44...sharp move on UJ as well...tonight will be interesting..

This post has been edited by small-jeff: May 12 2008, 02:24 PM

luckily you didnt go short on GJ ar...anyway, GJ closed slightly higher than 203.33...wait for the small correction, then maybe can go long

edit: uh-oh..GJ possible crumbling down to 201.07...or only reverse upon touching 200MA

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Added on May 12, 2008, 8:51 pm@corez:

welcome to the club!

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Added on May 12, 2008, 8:53 pm@lowyat...

your ramunia S/L at 1.40??

This post has been edited by small-jeff: May 12 2008, 09:20 PM

ohh..GJ seems still got chance to go down..but TP should be at 201.02 (200.72 low)..however, it still seems it's going to continue with the bull run..

ooh..but then your ramunia still makes profit lar?

hmm...corez...IMO...if you were to trade, either technically or fundamentally, you should make your own decision...and not getting tips from forums...just my 2 cents lar...

aiks..thought your profit reduced by rm460...

anyway...bout the chart...now i had to redraw most pairs due to movements since last night...

UJ...a almost super consolidation...so wide...

yeah...this week might happen a few more slippage...sigh sigh and sigh...dont like fundamental also need to do some homework now...

hahaha...go go corez...good luck bro..

wah..seems like everyone is making profit now...careful on UJ now ya...

edit: and also on EJ

This post has been edited by small-jeff: May 13 2008, 09:47 PM

@lowyat:

for JAKS...here's what i see lar..the price broke through the channel..now the price seems to be drifting towards the 38.2% vertical retracement. The price will head towards 0.901. Looks like a quite healthy bull




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well..i'll say the TP should be 0.90 for safer side...but...as you can see...the price you bought at just happened to bounce of the retracement level at 0.757..so...to avoid much risk..good to put a SL slightly below the previous congestion zone..about 50% of 0.757 to 0.525

haiya...i'm not that pro lar...just giving my opinion only ar...

how's everyone's profit today? fat fat ya?

This post has been edited by small-jeff: May 14 2008, 12:02 AM