DislikedHans, all those red arrows are not resistance points - have you read J16 on PPZ yet?Ignored
With 3 grand kids on my knee for the next 3 weeks I will find some time at night to study!
thank's for comment strat.
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DislikedHans, all those red arrows are not resistance points - have you read J16 on PPZ yet?Ignored
DislikedLance (rogueforex) prompted me to look at USDCAD with that level he posted.
When I look through the time frames, I see a BEARISH emphasis!
Monthly is bearish
Weekly is bearish
Daily is bullish BUT is completely over ridden by the BOSS and HER BOSS!
In this case, I favour shortsIgnored
DislikedMy week end look at GBPUSD. Comments appreciated.
Monthly - Monthly bar bullish and is forming PB or hammer but will not be sure until next week when it closes but unless something dramatic happens, it will...Ignored
DislikedPizza man, ye hast taken me back to the days of yore when bad brother John stole the throne while good King Richard (The Lionheart) was on his Middle East tour!
I now seeeth that thou are indeedst Robin Hood since thou camst from Nottingham, taking from the rich (brokers and MMs) and giveth to the poor (amateur traders). Nay, couldst thou beest The Bard, for thou art indeedst foresooth in thy tongue? Or couldst thou be the Knight of the Round Table forever trying to have thy way with thy Queen in the search of her Grail?
Whence comest thou, I...Ignored
DislikedWell the thing with IBs is they can mean different things at different places.
My plan is to wait for a directional bar.I may miss 100s of pips if it pops but i think the infomation is worth more at this point.
what do you guys think.....gIgnored
DislikedI wouldn't do it because you will be trading straight into support at BIG psycho 1.6000 and 1.5850.
The last two daily bars are IBs so there may be better prices later.
Remember, you DON"T have to trade - why not wait for the trade that stands out?Ignored
FTSE Futures
We have a bullish monthly pattern but bearish weekly and daily. PA now rests on the SR level at 7200 ish with the daily 20 ma just below.
If the weekly shooting star comes into play and busts these levels then the bear market continues in my view. Short order at 7080.
DislikedI agree. Looks to me like all these Friday IBs may be a result of the Fed announcement early last week which made everything move to a weaker dollar position for 2-3 days. Then on Friday, volume down and direction non commital as many traders saying "hmmm.... now what?"
I think wait to see what happens next is best plan.Ignored
DislikedUSDCHF is the only chart that confuses me. Price broke up and out on the news of the SNB intervention and then fell very hard right through the range, double the amount of the climb. The level she stopped at is the weekly 50, 50% fib between recent highs and lows and a major SR level so I am watching closely to see if this level holds and the uptrend resumes.
NicolaIgnored
Disliked
USDCHF is the only chart that confuses me. Price broke up and out on the news of the SNB intervention and then fell very hard right through the range, double the amount of the climb. The level she stopped at is the weekly 50, 50% fib between recent highs and lows and a major SR level so I am watching closely to see if this level holds and the uptrend resumes.
NicolaIgnored
DislikedWell it's certainly taken a good 6 or so hours to go over this entire thread, certainly an entertaining and educational read - thanks Strat for giving us your time and patience....Ignored
DislikedLance (rogueforex) prompted me to look at USDCAD with that level he posted.
When I look through the time frames, I see a BEARISH emphasis!
Monthly is bearish
Weekly is bearish
Daily is bullish BUT is completely over ridden by the BOSS and HER BOSS!
In this case, I favor shortsIgnored
DislikedThe ideal 2 day pin has the same lenth noses.the greater the difference the weaker the bar.And the close wants to be in the body of the bar......gIgnored