Very frustrating trying to scalp as well. it goes from -1pip to -4.8pip so quick.

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Thanks for the response PiedPipper, I'll definitely do that. I do have a demo account of fxpro open usually but I must admit that i have not looked in detail at this issue with their charts yet. I will do so tonight when I do some trading.

Are charts a little bit deceiving?

Thanks for the explanations guys

Are charts a little bit deceiving?

Could be going down soon. — If we close below the 20 level on the 5min time frame then I think we will go lower--at least until we hit the 1.3000 level. So I'm waiting for a close under the 20 level. Double high with a lower close is found on ...

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2900 we should hit in the immediate short term I would think.

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guess i was wrong. Looks like we are heading down now anyway.

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I think we'll be heading for the 2800 or 2820---where at that point we should bounce and head lower--creating new lows for the London session.

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Are you serious when you say that or joking? I'm trying some ideas from the james16 thread. Should i change my timezone for those pin bars to work better?

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GMT+10 is what the timezone is set at in my options. I have it set to Australia timezone since that is where I live.

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Those who are bullish — Those who are bullish should note the levels in the Daily chart below. You can see a nice double bar with a high close. If we go above the second bar then we should end up going higher. This is the Daily chart.

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I see a nice double top formation on the 1 hr chart. Just depends on if we can close underneath it. You expect a potential retrace back up to 2820 level and then head down quite some way. see attached chart.

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There is no doubt that there are still going to be people who do well during this recession and will continue to buy and consume. I suppose that is good for the economy in general. But that is also true that there are those out there who are ...

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what? Bush is going to be investigated for war crimes? I didn't know that. Anyway I've watched a number of interviews and news stories showing actual people suffering big time from the recession in the US. A lot of those people don't seem to ...

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Wow, that was incredibly interesting. Thank you for posting such a detailed explanation--I really appreciate it and I'm sure others here do as well. Must have been awesome to have worked at a company like that and learned how trading works at the ...

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were traders very successful at forex trading at the firm you were at? If they were successful, did you ever ask them why they continue to trade forex for the company instead of at home?--where they can potentially make a lot more money. I'm just ...

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ahh yes. sorry.

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and he was wanting to sue AIG the company he founded. Thing is that the US government has put so much tax payer money into AIG already. If he gets money off AIG through the courts then effectivly he is taking money from US tax payers. I'll leave it ...

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Yeah it's a tough situation for a lot of those guys. Actually those banks have lost lots of money on their trading desks--including currency. One guy lost something like 120 million dollars on his own. Man, how bad would you feel if you were that ...

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Yeah it's a tough gig with equities. The running joke in this thread at one stage was that whenever a journalist on cnbc or bloomberg asked to the question to one of their guests " are we at the bottom?"---that meant that equities would go down ...

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