ETMA_The Evolution

Nasdaq and The Dow breaking higher with the NY open.

GU, is this a double top or a continuation of the Bullish trend.

UJ Breaking support and close under.

Still showing short term weakness even with a good numbers out of UK Today.

UCHF Also breaking short term support.

That didn't workout as i want, due to bad numbers from Australia and china, AU broke down hard taking multiple support levels and my stop loss with it.

Divergence between the EU Bull and the GU Weakness lead to a breaks like these, long EG.

Gold breaking support, is it gonna hold ?, i guess we have to wait and see, we should take in consideration that multiple support levels lies ahead.

The follow up.

The quiet before the storm, i'm counting 6 Bearish daily Pinbars t'il now rejecting the 3830 level, and you ?.

Buy the rumor sell the fact : Twitter accounts saying talk of an emergency press conference from Putin - unconfirmed , which made gold and after trying to break support whipsawed 30 Pip in one candle and print a bullish and piercing H4 pinbar on support, i'm already considering going long if the next candle closes above resistance which the recent pinbar didn't do.

What to look for this week in terms of risk events so be ready for a FOMC meeting and an NFP report as the main events in the middle and the end of the week.

Waiting For The Range To Break This Wk: Possible Catalysts - Barclays
The FX market remained quiet after the Easter holiday in Europe and major currencies traded sideways with investors struggling to find a catalyst to break the recent ranges, notes Barclays Capital.


However, the coming week could provide some of these possible catalysts to break the current tight ranges in FX as we have a busy week ahead with FOMC (Wed), US employment report (Fri) and Euro area CPI flash estimate (Wed), among other things, and their outcome will be critical for the prospect of the USD and EUR.

"FOMC is likely to have a limited market effect, as it is widely expected to announce another $10bn of tapering and maintain qualitative forward guidance introduced at the previous meeting," Barclay projects.

"As for US April employment report, we expect headline NFP of 250K and unemployment rate of 6.6% (consensus: 210K, 6.6%), and if correct, will likely be USD supportive," Barclays adds.

http://www.efxnews.com/sites/default...may14/x105.PNG
"Euro area flash CPI estimate is also worth close attention, given the recent ECB rhetoric suggesting they are ready to take actions should the medium-term inflation outlook deteriorate further. We expect the headline CPI to rebound to 0.8% from 0.5%, in line with consensus, but any downside surprise would weigh on the EUR as it will increase the likelihood of further easing by the ECB ahead of the next policy meeting on 8 May," Barclays projects.

Other key data/events to watch include the BoJ rate decision (Wed), UK Q1 GDP (Tue) and China manufacturing PMI (Thurs).

"BoJ rate decision (Wed) will be the key risk event from Japan this week. It is widely expected that they will hold the monetary policy stance unchanged at this meeting with inflation steadily rising...The market continues to price in modest expectation for QE, according to our analysis (and while he will try to keep the door open for further easing, no indication of immediate actions by the BoJ poses downside risk to USDJPY," Barclays projects.

Barclays conomists expect UK Q1 GDP to surprise modestly to the downside (Barclays: 0.7% q/q, consensus: 0.9%)
"The outcome of China manufacturing PMI (Thurs) will be closely monitored after March activity data and the HSBC flash PMI for April did not yet show a sign of meaningful pick-up in economic growth. Our slightly below consensus forecast (Barclays: 50.4, consensus: 50.5) is likely to weigh on AUD and NZD if correct," Barclays adds.

Best,
B.R.

Break and retest and actually in range look for a break this week as volatility picks up after the Easter holiday, UJ and AN already done so early this morning.

Hi Bass

Why did I make a mistake

Because u didn't wait until the candle closes, i was burned several times because of this inpatience and i learned to be patient the hard way, 2 of the very important traits of a sucssesful trader is Patience and Discipline.
Discipline to follow your well back and forward tested rules and patience to wait for these rules to line up.

You didn't had the discipline to follow your rules ( Break and close under support ) and you were inpatient and caught by the rush and excitement of the markets and sold early.

That being said, you are not in a very bad position, for this market and like i said is in short term consolidation mode it can break up or down although the direction of the overall medium trend is up.

Note : i prefer to see a close under or over support and resistance on the H4 for more confirmation of the break, specially if its a critical level of a well defined chart or candlesticks pattern, that prevents me from making a lot of mistakes.

Best,
B.R.

Go here and study this guy's entry and exit to know what i'm talking about.
http://www.forexfactory.com/showthre...16247&page=301

I just want to turn your attention to a key reversal opportunity that is suspected on the AN Cross pair, a possible double bottom is developing on the D1 @ the monthly multi support levels not to mention the Monthly pinbar.

A very big thank you Bass
respected Bass
Can I ask what kind of settings you are using?

Hi Bass,

what platform and System you are trading? Sometimes i see platform Ninjatrader, Hawkey´s System?

Where can I learn about your System?

Thank you.

This is not the 123 patterns indicator, this is a simple Support and Resistance Indicator with sensitivity settings, to plot support and resistance is easy by eyeball u don't need a special indicator.