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     chart_rider
Member
Username: chart_rider
Post Number: 106
Registered: 01-2005Rating: N/A
Votes: 0
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| | Wednesday, October 26, 2005 - 04:14 pm: | 
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Dean
This is most certainly the case, on the inverted chart a break above the recent high would signal a shift in probabilities, similarly, in the real chart a break below the recent low would definitely be very bad news for long trades.
The XAO needs to carve a new high at around 4500 followed by a higher low to show a real change. If this happened, the MA's by then would probably also be the correct way around.
CR
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chriswillz
Member
Username: chriswillz
Post Number: 97
Registered: 04-2005Rating: N/A
Votes: 0
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| | Wednesday, October 26, 2005 - 04:32 pm: |
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Not looking too bad. Seems to have bounced off fib at 38.2?
Dean does this look correct technically to you? I appreciate your guidance.
Chris
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deanrosario
Member
Username: deanrosario
Post Number: 981
Registered: 11-2002Rating: N/A
Votes: 0
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| | Wednesday, October 26, 2005 - 04:55 pm: |
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Hi Chris
Please know that I'm a TA novice so I hope other more experienced chartists will add comments.
My basic impression is that Fib support levels do trigger buying and the next step is to see how the market reacts at subsequent Fib levels on the way up.
Sorry I can't be of more help.
Dean
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." George Soros
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tony_m
Member
Username: tony_m
Post Number: 412
Registered: 01-2003Rating: N/A
Votes: 0
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| | Thursday, October 27, 2005 - 04:55 pm: |
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Same pattern continues with selling into any rise throughout the day, usually kicking in around 1:30PM. So it appears that the sellers are still in control and the pattern looks to be systematic.
Tony_M
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userxx
Member
Username: userxx
Post Number: 25
Registered: 02-2005Rating: N/A
Votes: 0
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| | Thursday, October 27, 2005 - 05:27 pm: |
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today,the XAO reversed after it had retraced the .389 Fib from the recent bottom, and coming on top of the US futures falling with the GM news, it might be the start of the next down leg
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tradewind
Member
Username: tradewind
Post Number: 5
Registered: 10-2005Rating: N/A
Votes: 0
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| | Thursday, October 27, 2005 - 08:07 pm: |
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hey all
If you look under the covers at what makes up the xao, you will find slowly but surely more and more stocks making new highs and higher lows.The more of these that occur the surer the bulls will feel, thus tipping the balance to continue our lovely upwards direction.If tomorrows up then today was hardly stopping to catch a breath which means the bulls are runnin.Would be nice though to see more selling tomorrow, slow the bulls to a trot so we can get in. Got some potential for some craziness tomorrow ought to be interesting as allways.
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may
Member
Username: may
Post Number: 4
Registered: 04-2005Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 06:15 am: |
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Interesting..... I realise resources play a major role in the economy of this country but hadn't noticed quite how closely XAO mirrors XMJ. If all the pundits are correct and the demand for resources is set to continue for another year or two we may be nearing the time for the bears to take a nightcap and doze off for a while?
(Message edited by robin on October 28, 2005)
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chriswillz
Member
Username: chriswillz
Post Number: 99
Registered: 04-2005Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 11:00 am: |
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Hi May,
That is a genuinely good point. Just make an observation if I can. The charts are identical when going south but vary slightly when going north. This process of conformity between all stocks during the "correction" is the worrying point.
I don't understand the psychology behind the US market at the moment. I dont think they even know. It is up and down over 1% every day.
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deanrosario
Member
Username: deanrosario
Post Number: 988
Registered: 11-2002Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 11:40 am: |
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Wow - this will be interesting ....
The creation of a website
- whose name is based on IMPERIALISM
- that will be dealing with the excesses of CAPITALISM
- operated via a system of SOCIALISM
Of course it'll work!
Now, I wonder who will put up his hand to be the court jester, or will the King be multi-tasking?
VIVA LA REVOLUTION!
(Message edited by deanrosario on October 28, 2005)
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." George Soros
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dug
Member
Username: dug
Post Number: 476
Registered: 07-2005Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 11:22 am: |
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Well,well danielc I hope you don't get classified as a Troll.
You,I hope can see that this new 'Douvver' by d'Art is an episode in meglomania?
Celebrity posters,Industry 'Insiders',do you really think they'll be saying anything that you don't already know?
danielc,this is a dummyspit par excellence by arthur.
It'll all boil down to 'I've a Big Wallet.Trust me.'
Happy Trading Mr D.I won't be at no round table.IC4me!!
jr
Dig for it.
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tony_m
Member
Username: tony_m
Post Number: 413
Registered: 01-2003Rating: 
Votes: 2
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| | Friday, October 28, 2005 - 01:52 pm: |
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Daniel, I dont have a personal problem with AG and his posts didn't particularly concern me and I posted my views accordingly.
However I think it is a bit rough on Colin to advertise a proposed competitive website here regardless of the rights or wrongs of AG's ban.
Tony_M
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ingot54
Member
Username: ingot54
Post Number: 889
Registered: 05-2004Rating:
Votes: 2
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| | Friday, October 28, 2005 - 06:57 pm: |
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In the past, I have been more guilty perhaps, than others, of going "off topic", thus destroying the intent of some threads, even if unintentionally.
These days I hope I have become less ego-centric, though the jury has not returned an opinion on that one yet!
Vermante commenced an excellent thread here, let's keep it on-topic.
There are other avenues to address issues which are irrelevant to a thread, notwithstanding the history of this thread, or others.
And there are avenues provided for members to express grievances, without distorting threads with irrelevant input.
Let's stick to the spirit and intent of Vermante's idea.
http://www.incrediblecharts.com/userscripts/forums/show.plx?tpc=6&post=66742#POS T66742
A lot of time and sheer hard work goes into providing a quality forum. Administrators work for you for free, to keep your freedom of speech intact, and to maintain an avenue for you to express opinions on charts and charting, and the whole package that accompanies this.
It did not just "happen".
In return it is not too much to be appreciative, is it? You do not even have to subscribe, in order to freely participate in this. No one is asking you to conform, or to gag you in any way.
There are some very easy guidelines to follow (Rules of the forum : http://forum.incrediblecharts.com/chart_forum_rules.htm)
Please respect and appreciate the venue we have, and enjoy it for what it is - a world-class forum.
(Message edited by Ingot54 on October 28, 2005)
Keep Smiling
Trading style :Short Term and CFD's predominantly
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may
Member
Username: may
Post Number: 4
Registered: 04-2005Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 03:08 pm: |
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Please accept my sincere apology for unwittingly creating this problem. I have never posted 2 charts before and assumed they would be one beneath the other.... obviously I did something wrong, I am so sorry. I hope someone is able to remedy this for all our sakes.
May
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tony_m
Member
Username: tony_m
Post Number: 415
Registered: 01-2003Rating: N/A
Votes: 0
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| | Friday, October 28, 2005 - 08:46 pm: |
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May, I didn't mean to embarrass you, dont worry about it. I simply wanted to highlight the entry that I thought needs to be adjusted. Easy mistake to make for a new poster...Regards Tony_M
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ingot54
Member
Username: ingot54
Post Number: 890
Registered: 05-2004Rating: N/A
Votes: 0 |
