wow...looked at the chart today...really dunno how to trade tonight...

i used it before...but not too sure on it...been studying to use Fibonacci retracement and fanline..even Fib arc is useful sometimes...next is Gann Fan and Line.. you using it?

Somehow i found that when using Fibonacci, it's sometimes hard to see where the price is going during news release, though after the herd settles down, it will be on the nearest Fibonacci line..and consolidates..one example below..looking at the chart to the left, retracement levels and fanlines works well by confirming patterns and bounce...

ahh..dunno what i'm saying..too tired... ..have a look anyway


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hmm..the problem with drawing gann line is..we need to draw it at 45 degree..similar to gann fan. changing the scale on both time and price will affect the line/fan..that's the problem..hahaha..so trying to apply it is rather difficult..cause i dunno how to draw it..if tarik from up/down or vice versa, that's the Fib fan..

hmm..bout GU..it's consolidating on the fan line again..haha..but..it did try to go down to the 38.3%..for the short term..i think it'll go south a little..probable breakout and go up when the fan is too near to the vertical level..but the 38.2% seems like more of a resistant than a strong support...haha...that's why i said dunno how to trade tonight..lol..

edit: yeah..very difficult to follow news. now i just use those Yahoo! Widgets to show US indices..haha..aih..bout SL..makes me worry..for the whole month i havent been using SL...now worried when i go live..i can lose like hell...

a up move on Fib fan usually comes with bull flags...but this one..seems a bit too wide..

This post has been edited by small-jeff: May 22 2008, 12:44 AM


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haha..that's why it's taking me so long to go live...if i set it to the nearest support/resistant, i'll lose big time...dunno if you looked at my report...i'm only scalping for 3 pips (wonder if that's even called scalping )...but with 10 mini lots..lol...what's worse, i'm planning not to have that much starting capital..

hmm...wait till i can make my demo twice the amount..from 5k to 10k..then i'll go live..lol...

haha..will too..once i get better..now still so noob...

hmm..seems like the bullish move is going to be over soon for EU...

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Added on May 22, 2008, 6:05 pmwah..GU really up up and away...lowyat.. got went long last night?

This post has been edited by small-jeff: May 22 2008, 06:06 PM


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wah...very precise going on short..it also looks like the max bull run to me..the red like is a Fib Arc..61.8% on 1H..most probably will bounce off, or consolidate around the arc..which is also going down..

also on 4H chart, touched 100MA..maybe coincidence..

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Added on May 23, 2008, 12:33 amjust had a little look on GJ...while having a smoke ...a little 2 cents

on a monthly chart, seems like a spinning top or even a doji is forming as Jun comes close. Like usual, if it does goes as doji, chances of having a bearish month is quite high..it's been a down trend anyway



while on a weekly chart, it's touching the 50% fanline now (low 10/9/2000; high 15/7/2007). The price might try to reach 207.57..but would be difficult to close above that. If it does close lower than that, that would increase the chances of Jun being bearish...





This post has been edited by small-jeff: May 23 2008, 12:33 AM


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@lowyat:
you mean your UJ hit the SL? cannot be ar..it did went south...

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Added on May 23, 2008, 9:28 amooooh...it went up first..then start coming down...

This post has been edited by small-jeff: May 23 2008, 09:28 AM

hmm..lowyat..UJ still doesnt seems to be stable enough to go south yet...not the best time...wait for a few lower highs and lower lows first ba..

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Added on May 23, 2008, 1:00 pmno one is shorting on EU???

This post has been edited by small-jeff: May 23 2008, 01:00 PM

ahh...lowyat..good on UJ expect minor consolidate at 103.30

but your weekly trade still +ve ba...lets get prepared for next week ..been taking off for these few days..lol...now reading a book bout candlestick and the psychology of it...seems interesting. If you want it, let me know.

haha..very good reversal and making profits..how come like hell? you're still making profits..

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Added on May 24, 2008, 12:31 amnormack: see you next week

This post has been edited by small-jeff: May 24 2008, 12:31 AM

hmm...the starting of the week may see the price trying to go up to 103.70 first..which should be completed within a day or two..if it does fall, expect a rather strong support at about 101.17...the only last time it manage to break below this point is around the last quarter of 1994...looking at how the price react to the 76.3% level confirms the strong support of this congestive zone..but with a rather large range (101.17 - 95.81), it'll be nice for scalping

edit: the price should start to find some resistance moving up when it reach around 103.60..

This post has been edited by small-jeff: May 26 2008, 12:17 AM


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hmm..bro..i did some counting on GJ 1 Week chart as well..hope you can give some guide

On the chart, wave IV might have been completed, with the candlestick closing as a spinning top with small body, which may indicates that price has been pushed down, back to around the former higher highs to the left. The next couple of weeks should be bearish, which Wave V may end around the former lower lows as well..what do you think?

This post has been edited by small-jeff: May 26 2008, 09:07 PM


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UJ is having some difficulties to go above the previous higher high...if it close higher than the previous within this hour..might continue to climb after retracing abit..it could even close at 104.24...



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hm...GJ seems like going down to me though..maybe will close around 207.59 or lower..

anyway..good luck

This post has been edited by small-jeff: May 30 2008, 09:19 PM

wow...GJ so fast went south on the first trading day of June..anyway..seems like GU's bear is failing...

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Added on June 2, 2008, 9:50 pmbtw...huge gap on pound pairs...

This post has been edited by small-jeff: Jun 2 2008, 09:50 PM

hmm..IMO..if GJ manage to close below 204.30 before wednesday, good possibility of continuing bear..

lol....crazy sh!ts on usd and gbp pairs...lol...

hahahah...i thought i've seen some crazy stuff in forex...this is the craziest till date

anyone was on the joy ride?