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save in indicators...make sure platform is closed before you do it
leachimeewg,
you want to see divergence on 5min chart,right ?
I will be cautious before opening short here because I see this nice trendline right here at 114.70 area
http://img412.imageshack.us/img412/2...djpy123xv0.gif
Moreover on 5min timeframe you could see pattern which might turn into Double Bottom but it is too early to say
I also see that we are still above 100 EMA on hourly chart and the next one 200 EMA is on 115.70 level and also 50 EMA on 4h chart is there.
Don't forget also about R1 115.76
Still,it is too early to see where it will go - I don't want to confuse your views guys,just sharing my opinion
you want to see divergence on 5min chart,right ?
I will be cautious before opening short here because I see this nice trendline right here at 114.70 area
http://img412.imageshack.us/img412/2...djpy123xv0.gif
Moreover on 5min timeframe you could see pattern which might turn into Double Bottom but it is too early to say
I also see that we are still above 100 EMA on hourly chart and the next one 200 EMA is on 115.70 level and also 50 EMA on 4h chart is there.
Don't forget also about R1 115.76
Still,it is too early to see where it will go - I don't want to confuse your views guys,just sharing my opinion
- #3,905
- Aug 22, 2007 10:43am Aug 22, 2007 10:43am
You right and by the way it has just hitted 114.81 -so nice profit for you.
or maybe we will be bouncing from R1 to Weekly ...
It's not actually a bad range though so there may be some reasonable trades in that channel.
Any significant changes in US equities may change the situation, so keep an eye out for breakouts.
G-Man
- #3,906
- Edited 11:01am Aug 22, 2007 10:49am | Edited 11:01am
- | Joined Apr 2007 | Status: May the Pips be with you | 328 Posts
leachimeewg,
I will be cautious before opening short here because I see this nice trendline right here at 114.70 area
http://img412.imageshack.us/img412/2...djpy123xv0.gif
Moreover on 5min timeframe you could see pattern which might turn into Double Bottom but it is too early to say
I also see that we are still above 100 EMA on hourly chart and the next one 200 EMA is on 115.70 level and also 50 EMA on 4h chart is there.
Don't forget also about R1 115.76
Still,it is too early to see where it will go - I don't want to confuse your views guys,just sharing my opinion
My guess is as good as anyone elses...
1hr - short 20-30pips range.
4hr - long to around 115.25-45
Anyway don't pay too much attention to my rambling.. lol
- #3,914
- Aug 22, 2007 12:17pm Aug 22, 2007 12:17pm
- | Joined Apr 2007 | Status: May the Pips be with you | 328 Posts
I'm guessing you are going to short the position when it creates the start of the right shoulder???
: i already have an open position after closing 2 shorts from the head down.
I prefer to use 1hr charts to confirm chart patterns. i feel its clearer.
dove's tip to use short end charts in trading intraday.. did help to sharpen my game.
if you take a look at the 30m chart, you can see that the stochastics are very sold off. then again like i say, its just a view i take. i'm most likely wrong. i'm not sure but i might be a little early in the long
:
- #3,915
- Aug 22, 2007 12:23pm Aug 22, 2007 12:23pm
most likely.
i already have an open position after closing 2 shorts from the head down.
I prefer to use 1hr charts to confirm chart patterns. i feel its clearer.
dove's tip to use short end charts in trading intraday.. did help to sharpen my game.
if you take a look at the 30m chart, you can see that the stochastics are very sold off. then again like i say, its just a view i take. i'm most likely wrong. i'm not sure but i might be a little early in the long
"Don't work for your money, but let money work for you."
- #3,919
- Aug 22, 2007 12:46pm Aug 22, 2007 12:46pm
- Joined Jun 2007 | Status: Trading Live For The Last 14 Years. | 5,761 Posts
The Dove - Forex Trainer