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Beyond the Candles

Sodiska,

I think your analysis makes sense, and good that you discovered the 2 day PB...

However if you go short NOW, you will be trading right in to the big round number 1.3000.

The prior weekly candle has as its low 1.30007, so a close below that on a preferably WEEKLY basis would be a bit less risky.

But maybe fxgroup makes a video about EURUSD, or any other pair what he might be watching now.

If we have the classic " Sell in May and go away " scenario in US Indices, we have only 1 week left before some less indecisive moves in many major pairs will be coming.

Until then I will be waiting.

Good luck and only the best to you.

Mike
I think that EURUSD is not the best choice at this very moment with M in congestion and W stuck in RM with many S/ R levels . I will wait for further informations meanwhile out there are many pairs far more clear/ safer !
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 48 KB
Nothing personal,just business.
Hi, I have modify your chart and added 4 circles with. My questions is, what does the arrow means? Does the arrow represent price not closing or touching the line?


Quoting fxgroup
I think that EURUSD is not the best choice at this very moment with M in congestion and W stuck in RM with many S/ R levels . I will wait for further informations meanwhile out there are many pairs far more clear/ safer ! {image}
Attached Image (click to enlarge)
Click to Enlarge Name: fxgroup-EU-weekly.png Size: 62 KB
Quoting sodiska
Hi, I have modify your chart and added 4 circles with. My questions is, what does the arrow means? Does the arrow represent price not closing or touching the line? {quote} {image}
The arrows represents the way how the P make RET to the levels identified using the O/C and how important are these levels within the RM !....see GBPJPY W chart !
Nothing personal,just business.
Hi FxGroup, attached is the W and D chart for GBPJPY. Hope my S/R line drawn are correct. W chart, previous 2 weeks there are 2 contradicting PB. Buyers and Sellers are fighting to see who in control, if this week W P NCB 151.518 then bullish signal is on. Any feedback is much appreciated.




Quoting fxgroup
{quote} The arrows represents the way how the P make RET to the levels identified using the O/C and how important are these levels within the RM !....see GBPJPY W chart !
Attached Images (click to enlarge)
Click to Enlarge Name: gbpjpyweekly.png Size: 36 KB Click to Enlarge Name: gbpjpydaily.png Size: 30 KB
I have two open trades, short on EURGBP, and long on CADCHF. Each of them are retracement from monthly lines.
Attached Images (click to enlarge)
Click to Enlarge Name: eurgbp-d1-.png Size: 76 KB Click to Enlarge Name: cadchf-d1-.png Size: 85 KB
Hi, sorry to ask stupid question, the charts you showing is M chart right ? and the first chart is EURGBP ?


Quoting Beertje
I have two open trades, short on EURGBP, and long on CADCHF. Each of them are retracement from monthly lines. {image} {image}
Quoting sodiska
Hi, sorry to ask stupid question, the charts you showing is M chart right ? and the first chart is EURGBP ? {quote}
Daily chart. The blue lines are important M regions. And yes, the first is EURGBP.
EURGBP M Chart
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-mn1-trading-point-of-2.png Size: 72 KB
CADCHF M chart
Attached Image (click to enlarge)
Click to Enlarge Name: cadchf-mn1.png Size: 69 KB
EURGBP
The P is in RM...a RM ARROUND the level ( we would like to see the RMs above or bellow a certain level for more information)....now we have a battle between the buyers and sellers for the dynamic level. Your trade is in based of the PB right into the BRN 0.85 and in the middle zone of the W RM....personally I'm watching it too and the M gave a clear information, but I will wait for further P's evolution as my chart !

CADCHF

A pair I buy it too with the PB 04.17 because of the P in RM going to the TL !
Attached Images (click to enlarge)
Click to Enlarge Name: EURGBP.png Size: 59 KB Click to Enlarge Name: CADCHF.png Size: 37 KB Click to Enlarge Name: 2013-04-24_13-34_CAD-CHF.png Size: 62 KB
Nothing personal,just business.
Quoting fxgroup
EURGBP The P is in RM...a RM ARROUND the level ( we would like to see the RMs above or bellow a certain level for more information)....now we have a battle between the buyers and sellers for the dynamic level. Your trade is in based of the PB right into the BRN 0.85 and in the middle zone of the W RM....personally I'm watching it too and the M gave a clear information, but I will wait for further P's evolution as my chart ! CADCHF A pair I buy it too with the PB 04.17 because of the P in RM going to the TL ! {image} {image} {image}
Thanks for reply. Yes the EURGBP trade is based on the Monthly PB.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-mn1-trading-point-of-5.png Size: 42 KB
Change your 0.8594 level with 0.8610 and tell what you see in all the TFs !
Nothing personal,just business.
Hello all,

What about GBP/JPY:

WPD: breakout from W RM between 140 - 150 BRN, Daily RET with PB at 150 BRN (acting as S)
WPG: Up to 160 BRN
Attached Images (click to enlarge)
Click to Enlarge Name: gbpjpydaily.png Size: 38 KB Click to Enlarge Name: gbpjpyweekly.png Size: 40 KB
Quoting fxgroup
Change your 0.8594 level with 0.8610 and tell what you see in all the TFs !
Yes 0.8610 is the right level.
Hi, just want to say I like the trading methods being taught here, thanks to Fxgroup and other helpers. I am still busy with the early pages and will post soon charts and opinions. I am not as inexperienced as my number of posts suggests.

As an aside, I believe that the buyers and sellers are same people, Market Makers, we just tag along and if we trade with care as taught here they will let us make some profits occasionally.
Hi FxGroup, am looking at AUDCAD trade. WPD: M in bullish trend but NCA M RM at 1.06500, formed PB with equal wicks. Sellers in control and bring P down. W bounce around 1.06500 and 1.05500, wait for W P close below 1.05500, if it does, wait for W P RT for short. What do you think?
Attached Images (click to enlarge)
Click to Enlarge Name: audcadmonthly.png Size: 30 KB Click to Enlarge Name: audcadweekly.png Size: 30 KB
Quoting M_k
Hello all, What about GBP/JPY: WPD: breakout from W RM between 140 - 150 BRN, Daily RET with PB at 150 BRN (acting as S) WPG: Up to 160 BRN {image} {image}
jpy pairs are in a strong move. My last trades on jpy pairs was for some month, without retracement to monthly levels i don't take trades. It can go long, but very risky. I don't like strong trends without good retracements.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-w1.png Size: 29 KB
Quoting sodiska
Hi FxGroup, am looking at AUDCAD trade. WPD: M in bullish trend but NCA M RM at 1.06500, formed PB with equal wicks. Sellers in control and bring P down. W bounce around 1.06500 and 1.05500, wait for W P close below 1.05500, if it does, wait for W P RT for short. What do you think? {image} {image}
Very interesting...
[quote=M_k;6632853]
Quote
Hello all, What about GBP/JPY: WPD: breakout from W RM between 140 - 150 BRN, Daily RET with PB at 150 BRN (acting as S) WPG: Up to 160 BRN {image} {image}
Hi M_k
The W tells you all you need to know....PB bearish+ PB bullish that means the battle beteew buyers and sellers, a RM...the only problem is that we don't have a clear forming RM and your PB is in the midle zone of this RM !
Nothing personal,just business.
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