{quote} EU - closed for 1122 pips gain{image}
- #62,903
- Edited 12:37pm Dec 2, 2013 6:37am | Edited 12:37pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,904
- Edited 8:33am Dec 2, 2013 6:55am | Edited 8:33am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,906
- Edited 10:13am Dec 2, 2013 8:50am | Edited 10:13am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,907
- Dec 2, 2013 8:54am Dec 2, 2013 8:54am
AU: It is late in the LS, but another setup might be forming, and this one has two bull candles with notable volumes behind them. This pair can be a real stinker, languishing for days doing nothing, and then a pop when most traders have given up waiting for it. And there is no telling where in that process this pair is. The setup is not complete until the price starts moving up. If the price does move up, there is S&R at the upper half number. Maybe this is worth stalking, maybe not. There is no way to know. {image}
Newbie trader
- #62,909
- Dec 2, 2013 10:29am Dec 2, 2013 10:29am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,910
- Edited 11:22am Dec 2, 2013 11:11am | Edited 11:22am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
NU:
This might be worth stalking (Just thinking out loud now).
Bear waves have started, beginning just before the LS today. They started after the push up through the upper whole number. That push up was a fast, strong push. It was followed by whipsawing PA, which indicates either a lot of buying or selling. We know that the MMs prefer to sell above whole numbers, so let's go with that. Now, was it selling to close longs or selling to open shorts. If the MMs were concentrating on selling to close longs, it does not mean they are in a hurry to start a bear drive for profits when not yet having time to load up on shorts. If they were concentrating on selling to open shorts, then a bear drive is closer at hand. We cannot know which is the case, but the bear waves have started and this is a pair that can get good action in the Asian sessions.
This is in a down trend on the H1 chart, but more PA is needed, more time is needed, for pricing to confirm the bear is renewing strength again. Therefore, on M15 it might be best to wait until there is a Classic short setup where the Dragon is below the Trend, and all other requirements are met. Should this happen during an Asian session instead of the LS, it might still be worth a go. 
Remember, there is a H&S formation for this pair. That does not mean it will complete, but if the bears resume bear PA then the it would be good to keep in mind that the price could be headed below 0.7850 to the target of this formation. 
This might be worth stalking (Just thinking out loud now).
Bear waves have started, beginning just before the LS today. They started after the push up through the upper whole number. That push up was a fast, strong push. It was followed by whipsawing PA, which indicates either a lot of buying or selling. We know that the MMs prefer to sell above whole numbers, so let's go with that. Now, was it selling to close longs or selling to open shorts. If the MMs were concentrating on selling to close longs, it does not mean they are in a hurry to start a bear drive for profits when not yet having time to load up on shorts. If they were concentrating on selling to open shorts, then a bear drive is closer at hand. We cannot know which is the case, but the bear waves have started and this is a pair that can get good action in the Asian sessions.
This is in a down trend on the H1 chart, but more PA is needed, more time is needed, for pricing to confirm the bear is renewing strength again. Therefore, on M15 it might be best to wait until there is a Classic short setup where the Dragon is below the Trend, and all other requirements are met. Should this happen during an Asian session instead of the LS, it might still be worth a go.
Remember, there is a H&S formation for this pair. That does not mean it will complete, but if the bears resume bear PA then the it would be good to keep in mind that the price could be headed below 0.7850 to the target of this formation.
- #62,911
- Dec 2, 2013 12:36pm Dec 2, 2013 12:36pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,913
- Edited 4:19pm Dec 2, 2013 2:42pm | Edited 4:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,915
- Dec 2, 2013 3:26pm Dec 2, 2013 3:26pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
M&M in a making? Sonic {image}
YeeHaw! Hot Dang! Whoopee! .....finally!
Lookie, Sonicers, the Master as finally found his way to post #1 and the TAH last released template and indicators!.....in true newbie fashion!
This calls for a drink!
As for GJ, so long as the Dragon is above the Trend, it does not meet the most stringent requirements for the implied bearish outlook. It might take a few days for that situation to change, even if the MMs are outwardly bears now.
- #62,916
- Dec 2, 2013 3:47pm Dec 2, 2013 3:47pm
- | Commercial User | Joined Mar 2008 | 9,095 Posts
{quote} Sonic, YeeHaw! Hot Dang! Whoopee! .....finally!
Professor.. ur view on AU pls..
Sonic
- #62,917
- Edited 4:26pm Dec 2, 2013 4:04pm | Edited 4:26pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
{quote} Love it.. Professor.. ur view on AU pls.. Sonic
You are kidding, right? I mean, don't you read the thread, Master?
Look at the post immediately preceding your post on GJ (the one where you used an up-to-date template!
).If you haven't figured out yet, how to navigate your thread (
), try this link:http://www.forexfactory.com/showthre...22#post7129522
I am tempted to short at highs, but I have been coaching myself to await the satisfying of these most stringent Classic requirements:
1. Enter only if setup is in the London Session.
2. Enter only if the Dragon is angled (up for longs, down for shorts) and is on the proper side of the Trend (above for longs, below for shorts).
3. Enter only if the Trend is angled (up for longs, down for shorts).
4. Enter only if PA is in the right place (above Dragon and Trend for longs, below Dragon and Trend for shorts.)
5. Enter only when PA has moved beyond the end of the first candle of the PA wave leg #3 exiting the Dragon. Gauge your entry level based on previous H/Ls that are significant. In other words, if previous PA has made what looks like a support or a resistance level that is just beyond your entry level, you might want to wait on the entry to see what PA does if it reaches the H/L area. PA might reach it and then pull back. A better time to enter might come sometime afterwards.
We are into the holidays now. The most stringent Classic requirements might eliminate a lot of trade opportunities if the MMs fart around with prices and keep things basically ranging. But, these stringent requirements might also eliminate a lot of losses caused by head fakes. I am not risk tolerant right now, so I'd rather be conservative........give me one "surer thing" instead of a passel of flings.
-tah
- #62,918
- Dec 2, 2013 4:31pm Dec 2, 2013 4:31pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #62,919
- Dec 2, 2013 4:52pm Dec 2, 2013 4:52pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
NU:
Beware longs!
This is bullish on M15; Dragon up and above Trend, which is also up, and PA above both! But look at H1! The friggin' MMs took the price back above the whole number on decreasing volume! And once there, the volume spikes! I'd not trust this as bullish. This looks more like the bear MMs are putting on bullish looking PA to suck in longs so the MMs can get higher priced shorts.
Yes, for the time being I'd remain bearish on this, in spite of the appearance of M15. And I'd await M15 to yield a stringently compliant Sonic R. short setup.
-tah
Beware longs!
This is bullish on M15; Dragon up and above Trend, which is also up, and PA above both! But look at H1! The friggin' MMs took the price back above the whole number on decreasing volume! And once there, the volume spikes! I'd not trust this as bullish. This looks more like the bear MMs are putting on bullish looking PA to suck in longs so the MMs can get higher priced shorts.
Yes, for the time being I'd remain bearish on this, in spite of the appearance of M15. And I'd await M15 to yield a stringently compliant Sonic R. short setup.
-tah
- #62,920
- Dec 2, 2013 5:00pm Dec 2, 2013 5:00pm
NU: Beware longs! This is bullish on M15; Dragon up and above Trend, which is also up, and PA above both! But look at H1! The friggin' MMs took the price back above the whole number on decreasing volume! And once there, the volume spikes! I'd not trust this as bullish. This looks more like the bear MMs are putting on bullish looking PA to suck in longs so the MMs can get higher priced shorts.
Hah! Sorry for the lame picture. Used paint to add the line on my school computer but yet it does seem very very bearish.
EDIT: Also notice the gap on the 1H chart where i circled. Need to fill it up !
Take what the market gives you.