GU Short Trade Initated:
GU gave us a WAVE. EU did not.
GU gave us a WAVE. EU did not.
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Dislikedsideways movement very cautious would wait for breakout before considering buy or sell,usually breaks out in direction of trend.fudamental announcement may clear this mess upIgnored
DislikedIt looks like the bulls won that battle, and also closed above figure (1.2700) on a hourly chart,looks good for the bulls.Ignored
Disliked".....on a hourly chart,looks good for the bulls."
Wait. Not so fast with that. PPMs are infamous for final drives to/past previous price extremes as part of their preparations for a reversal move. So, all the consolidation might have been conversion of longs to shorts, and this spike up might be just a head fake, with two purposes. One, it liquidates other traders short positions that had too tight a SL. This liquidation effectively allows PPMs to get their shorts filled. Two, such spikes might encourage other traders to open long positions,...Ignored
Disliked".....on a hourly chart,looks good for the bulls."
Wait. Not so fast with that. PPMs are infamous for final drives to/past previous price extremes as part of their preparations for a reversal move. So, all the consolidation might have been conversion of longs to shorts, and this spike up might be just a head fake, with two purposes. One, it liquidates other traders short positions that had too tight a SL. This liquidation effectively allows PPMs to get their shorts filled. Two, such spikes might encourage other traders to open long positions,...Ignored
DislikedI kept on looking for reasons for a reversal. I am a technichal trader,I trust the fibs and larger time frames like the daily,weekly,monthly.And i found reasons that supports your analisys.on the monthly chart, I pulled fibs from the most resent bounce off of support becoming resistance down swing and it retraced to the 61.8 almost to the pip and bouced off of that fib level, wich we also get a convergence of support becoming resistance.then i went down to the daily chart and pulled fibs off of the 61.8 bounce on monthly and it also retraced to...Ignored
Dislikedhello, like the idea to use SonicR at higher TF (1h, 4h & daily). I have observed that if there is a Sonic entry on the 15m & daily or 4h, the move is stronger.Ignored
DislikedI don't know of any books on the subject, though here and there you may find casual mention of "Pump and Dump", or "BARF".......primarily in material on the US stock market. But those methods of manipulating price are not unique to the stock market. And since the "Thieves of Wall Street" have so stunk up their own back yard that a lot of people will not play there anymore, I am convinced more of those thieive are coming over to the forex back yard.....stinking it up more and more as time goes on.
But basically it is psycology at work. The...Ignored
DislikedI don't know of any books on the subject, though here and there you may find casual mention of "Pump and Dump", or "BARF".......primarily in material on the US stock market. But those methods of manipulating price are not unique to the stock market. And since the "Thieves of Wall Street" have so stunk up their own back yard that a lot of people will not play there anymore, I am convinced more of those thieive are coming over to the forex back yard.....stinking it up more and more as time goes on.
But basically it is psycology at work. The...Ignored
DislikedHi TAH,
At last I'm back on track after 10 days off ...
I've noticed your post and I wanted to mention a thing that I keep in mind while I see these kind of setups ...
I was also watching this pair, but the reason I didn't took it, was because it was in the middle of a consolidation range, and in my experience, these setups USUALLY leads to a very small move in favourite direction and then it'll reverse ...
It's a good behaviour to stand aside when one see a setup in the middle of a range ...
After all it's just my observation ......Ignored
DislikedHi everyone,
It's very useful and important to understand the main concept behind moves of the market, even if it's not for sure. But putting a lot of time/energy in it will distract you from the thing that gathered us here, and that's SonicR.
I suggest for those who are new to this method, when you don't see a setup, don't exhaust your mind on "now", go read the thread, test the "past", trade with trading simulator that I've posted here and there are lots of them in forexfactory, make a journal of your trades and then work on you weaknesses....Ignored