Igrok how do u know when a diamond will turn into continuation and when will it break in the opposite direction
Forex Ideas & Comments 18 replies
Fibonacci thoughts & ideas.... 13 replies
DislikedIgrok how do u know when a diamond will turn into continuation and when will it break in the opposite directionIgnored
DislikedIgrok how can u tell that diamond wuold be a continuation patternIgnored
DislikedFrom here (after making the bottom at around 1.4480) the EUR/USD is likely to get back to 1.4820-30 initially.Ignored
DislikedIgrok, will you share the reason for it ?
in my daily calculation method i found something similar with your view.
from H1 chart using a combine of bollinger and ma, i have 1.4575 then 1.4760 as the projection target.
DislikedIgrok, do you have any specific way to calculate ATR?Ignored
DislikedThere is no need for making precise calculations. The best way of evaluating ranges is not algebraic but rather geometrical which means going by analogies and comparing the length of the bars virtually. A single glance at the chart is usually enough to get the idea which range is already excessive, which is just about average and which is still too short.Ignored
DislikedThank you for the explanation. Can you please explain what are unsatisfied divergences, I have never heard of before.Ignored
DislikedHi Igrok, what are your views on GBP/CHF now? I think last week telluv suggested it might be a diamond and is headed down. I'm not sure about the technicals but I think the pound has been sold too heavily in the past few months while swiss might suffer from carry traders.
Recent data from UK showed uptick in inflation, might mean BoE won't cut as much and as quickly.
I think many carry traders have ditched their JPY shorts as the one way bet on JPY has been going for too long and Japan is out of deflation so the BoJ might start talking about normalising again. I think many of these carry traders will now look to swiss as the financing currency of choice.
These combined make me favour a break of 2.1750 for GBP/CHF. What do you think about this and what does the chart say?Ignored
DislikedOn 1h eurusd is that a diamond...or maybe just a triangle? 4h looks more like a diamond.Ignored
DislikedWell it has taken a few hours but have finished reading this thread.
I have ordered the book and should receive it next week, looking forward to reading it.
Also managed to find the July 2007 article from Currency Trader Magazine which was good.
Thanks Igrok and keep the posts coming mate.