Is anyone still short the cable?
I went short yesterday at 1.9630 with a SL at 1.9680.
I went short yesterday at 1.9630 with a SL at 1.9680.
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Dislikedi believe phillip commente awhile back aboy how the emotion is starting to buld up... so nice observation twoelev..... forgive my typing.... one handed, holding little gilr, so my responses are a little slowIgnored
DislikedI do not see trend continuation signal forming! I am seeing the possibility of "Zero cross over and back up" long signal after the completion of current candle (0:00 to 4:00 GMT).
Chandra, why to wait for another candle? It's a clearly visible pattern of 1 red and 2 blue finished candles. What you call a "zero cross" is in fact a mini round bottom. Of course, it may fail as any other pattern but for now it points to uptrend continuation, though I think it's unlikely because EUR/JPY was not so high since 1998 and according to D1 chart it's time for correction or reversal.
http://forexbarometer.com/graph/eur-jpy-20070226.gifIgnored
DislikedHi your chart and mine differ. However, I comment based on your chart only.
(Let us follow a short hand for signals. Round Bottom=RB; Round Top=RT Trend continue=TC; Zero Turn Back=ZTB. It makes life easier if all of us stick to this naomiclature)
Coming back to your chart, sure there is RB signal but i is not Trend Continuation to up side. For me, it is actually change of trend to the up side. you used the word Trend continues, I took it as TC signal. It is my mistake.
-Chandra.Ignored
DislikedMore divergence and the MACD....note the higher price tops and the lower MACD with the downturn in the histogram, red bar. So, on a new high in price action with a lower MACD, wait for the close (red bar on the histogram) before entering on the short. Opposite for the longs of course...
Again, this is the daily chart...but a chart is a chart is a chart...Ignored
DislikedHere is what i see in the three pairs where i am applyng 4hr MACD:
US/CAD:
Looks like a ZTB (following Chandra's semantics) and a trend continuation to the short side-bouncing back from 21MA
I plan to enter @ 1.1590 (it is below a TL).
Stop @ 1.1615 (just above 21MA)
Target profit @ 1.1560
R:R >1
EU/US:
MACD looks like a lower high, but too close to the 8MA and it is a countertrend. So will follow Palmer's advice: will wait until the news to see what happens.
GB/US:
TURK, I also went short yesterday and the candle missed my target profit for 1 pip!! Now i am thinking on reversing the trade and going long. It is bouncing back from the 8MA, but hte candle is red. So I will probably take a small loss on my short and hold my horses until i see more action to either direction. Would prefer the long side.
Any thoughts?Ignored
DislikedI agree to be patient with the EUR and GBP. Also, I have already entered a short with the USD/CAD at 1.1597 with a s/l of 1.1617 and t/p of 1.1557(might take profit sooner) so R:R is good.Ignored
DislikedIs anyone still short the cable?
I went short yesterday at 1.9630 with a SL at 1.9680.Ignored
DislikedHere is what i see in the three pairs where i am applyng 4hr MACD:
US/CAD:
Looks like a ZTB (following Chandra's semantics) and a trend continuation to the short side-bouncing back from 21MA
I plan to enter @ 1.1590 (it is below a TL).
Stop @ 1.1615 (just above 21MA)
Target profit @ 1.1560
R:R >1
EU/US:
MACD looks like a lower high, but too close to the 8MA and it is a countertrend. So will follow Palmer's advice: will wait until the news to see what happens.
GB/US:
TURK, I also went short yesterday and the candle missed my target profit for 1 pip!! Now i am thinking on reversing the trade and going long. It is bouncing back from the 8MA, but hte candle is red. So I will probably take a small loss on my short and hold my horses until i see more action to either direction. Would prefer the long side.
Any thoughts?Ignored
DislikedWhich of the two signals we should take? (the RT signal on 4:00 candle to go short OR the TC signal currently being formed on the current bar?).
Thanks.
-Chandra.Ignored