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  • #4,301
  • Jul 6, 2008 4:56am Jul 6, 2008 4:56am
Looks like a reversal is to come....

We do have a new bearish intraday but keep alot of factors here....

First price has impacted the swing pivot to the pip and found support...

Second price did not meet its bearish intraday target for firdays trading..this shows weakness in a certain direction.

Third price made a double bottom...

Fourth price broke a downward trendline.

Fifth price found support at the lower part of the linnear regression channel.

Last move your swing to the last swing and its about to reverse..

Be aware of this stuff sunday open.

Attached Image


Hope this helps
  • #4,302
  • Jul 6, 2008 10:46am Jul 6, 2008 10:46am
Quoting Shermenator
Looks like a reversal is to come....

We do have a new bearish intraday but keep alot of factors here....

First price has impacted the swing pivot to the pip and found support...

Second price did not meet its bearish intraday target for firdays trading..this shows weakness in a certain direction.

Third price made a double bottom...

Fourth price broke a downward trendline.

Fifth price found support at the lower part of the linnear regression channel.

Last move your swing to the last swing and its about to reverse..

Be aware of this stuff sunday open.

Attachment

Hope this helps
Your view is interesting, to conterbalance it, we need to take some other fact in consideration, Wednesday intraday target have been met to the pip. Friday was an official holiday for US, H4 channel have been breech to the low side, Last Swing have retrace to the pivot level, might just be going to the 61.2 retracement at 9745 wich is also confluence area with Thursday intraday target also at 9745... In any case i would draw my last intraday levels from thursday top to friday or today(sunday) bottom and start from this one.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,303
  • Jul 6, 2008 11:06am Jul 6, 2008 11:06am
Quoting GreatYves
Your view is interesting, to conterbalance it, we need to take some other fact in consideration, Wednesday intraday target have been met to the pip. Friday was an official holiday for US, H4 channel have been breech to the low side, Last Swing have retrace to the pivot level, might just be going to the 61.2 retracement at 9745 wich is also confluence area with Thursday intraday target also at 9745... In any case i would draw my last intraday levels from thursday top to friday or today(sunday) bottom and start from this one.
To me what the most important intraday is the most recent intraday. Not every cycle has to completed but you must keep aware of weakness ahead of price. Or the fact price did not hit its target for friday could mean a deeper retracement into the swing resistance fibbs......
What i see is the fact we have a triple bottom at a swing pivot that I showed on my previous post.

I have now updated my swing fibb and Intraday to what i feel at the moment and our knew intraday has failed as resistance and I am now looking for longs.

Price seems to be whanting to make a deeper retracement into price to our bigger swings of resistance (red one) Also our new intraday targets match up perfectly with the pivot of the bigger swing and we also find the center of the channel as resistance and we find a downward trendline. Also take a look at the 4 hour candle formation very bullish...If price hits the intraday targets we might be up for another reversal the fallowing day.

Attached Image
  • #4,304
  • Jul 6, 2008 2:42pm Jul 6, 2008 2:42pm
Quoting Shermenator
To me what the most important intraday is the most recent intraday. Not every cycle has to completed but you must keep aware of weakness ahead of price. Or the fact price did not hit its target for friday could mean a deeper retracement into the swing resistance fibbs......
What i see is the fact we have a triple bottom at a swing pivot that I showed on my previous post.

I have now updated my swing fibb and Intraday to what i feel at the moment and our knew intraday has failed as resistance and I am now looking for longs.

Price seems to be whanting to make a deeper retracement into price to our bigger swings of resistance (red one) Also our new intraday targets match up perfectly with the pivot of the bigger swing and we also find the center of the channel as resistance and we find a downward trendline. Also take a look at the 4 hour candle formation very bullish...If price hits the intraday targets we might be up for another reversal the fallowing day.

Attachment
This day should be treated like a scalp since we are still locked in a bigger swing be aware of this...If in doubt zoom out and trade the bigger timeframe swing and you will see today would be trading from b to c in the larger timeframes this is simply a possibel retracement.......
  • #4,305
  • Jul 6, 2008 2:58pm Jul 6, 2008 2:58pm
Quoting Shermenator
To me what the most important intraday is the most recent intraday. Not every cycle has to completed but you must keep aware of weakness ahead of price. Or the fact price did not hit its target for friday could mean a deeper retracement into the swing resistance fibbs......
What i see is the fact we have a triple bottom at a swing pivot that I showed on my previous post.

I have now updated my swing fibb and Intraday to what i feel at the moment and our knew intraday has failed as resistance and I am now looking for longs.

Price seems to be whanting to make a deeper retracement into price to our bigger swings of resistance (red one) Also our new intraday targets match up perfectly with the pivot of the bigger swing and we also find the center of the channel as resistance and we find a downward trendline. Also take a look at the 4 hour candle formation very bullish...If price hits the intraday targets we might be up for another reversal the fallowing day.

Attachment

You bull, i'm bear.. Will be fun to see as it unfold.. I bet it will go touch 9849 and then run down to 9749. It might not, but just for fun to make predictions.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,306
  • Jul 6, 2008 3:02pm Jul 6, 2008 3:02pm
Quoting GreatYves
You bull, i'm bear.. Will be fun to see as it unfold.. I bet it will go touch 9849 and then run down to 9749. It might not, but just for fun to make predictions.
Yep i first need to see my intraday break before thinking long or pulling the trigger in that direction. It also depends at what time of the day the break comes if not I simply wont trade it. Depending on what I see near franky open I will know what to do. Though I am a littel more bullish...
  • #4,307
  • Jul 6, 2008 5:18pm Jul 6, 2008 5:18pm
Any currency you guys whant me to look at I will be glad to do so...
Like this I can explain how I place the fibbs and you guys can see what I look for when I enter trades and how I filter certain information.
  • #4,308
  • Edited 5:47pm Jul 6, 2008 5:27pm | Edited 5:47pm
Quoting GreatYves
There was several Great fibo trade this week. Here' the last one. Based on Wednesday Intraday, the only problem was to found valid entry and stop. The entry came only at 04:00 AM EST time, when i am deep asleep and not really willing to wake up to check on my stoped trade. Should i move to europe? What you guys would or have done?
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What made you want to go long there?

also does anyone here trade off multiple time frames for their fib trades or can a trader use one time frame only and be fine?
  • #4,309
  • Jul 6, 2008 5:54pm Jul 6, 2008 5:54pm
Quoting big_pipin
What made you want to go long there?

also does anyone here trade off multiple time frames for their fib trades or can a trader use one time frame only and be fine?
He is not here right now my friend let me see if I can help you I am not him but i can help you out....The reason I believ he took It was because our intraday long broke(61.8) broke when this happends it means it is attempting a reversal but not every swing has to be completly reversed since on this day price reacted to the bigger swing fibb ( red one)

On the first arrow price broke the 61.8 fibb (light blue one)....you could have taken a long and simply take a bad trade.
But then the market gave you a short on the spot my second arrow is since price close below the 38.2 fibb light blue one and that proves price had a false brake on the smaller swing but the bigger swing held perfectly at the 61.8 fibb...

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  • #4,310
  • Jul 6, 2008 6:02pm Jul 6, 2008 6:02pm
Good day traders, If you lookat the dailytime fram(cable), you will see that we are in no doubt a bearish move, price has been rejected from 61.8, now sandwitched between 50 and 32.8 Checkin our fib in 4hr, the retracement fib, i see a picture where price retrace back to 1.9875 arena, which forms a confluence as 1. rejection at our intra-day long area 2. daily-pivot arena. I expect to see a move up and a plunge down. I might be wrong
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  • #4,311
  • Jul 6, 2008 6:04pm Jul 6, 2008 6:04pm
Quoting big_pipin
What made you want to go long there?

3 Things.. Primo, the daily low at 9844 was in fact a bounce off the 38.2 level of the last week swings, secondo it was over the long level of the intraday. Tercio, the main trend is still long. I should have wait for an upside brake with this V shape day...I still learn and i was wrong. Only the break of the 9844 level makes it bearish, but now we are in a consolidation. 9844-9744 is a indecision zone.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,312
  • Jul 6, 2008 6:13pm Jul 6, 2008 6:13pm
Quoting Naijafx
Good day traders, If you lookat the dailytime fram(cable), you will see that we are in no doubt a bearish move, price has been rejected from 61.8, now sandwitched between 50 and 32.8 Checkin our fib in 4hr, the retracement fib, i see a picture where price retrace back to 1.9875 arena, which forms a confluence as 1. rejection at our intra-day long area 2. daily-pivot arena. I expect to see a move up and a plunge down. I might be wrong
Attached Image


I beleive a majority of stops must be in that 9875 area, they might be ran over by the MM but the big boys must still be bearish... Naijafx how come your chart show a funny 9522.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,313
  • Jul 6, 2008 7:20pm Jul 6, 2008 7:20pm
Nice setup on eur/yen that seems to work..
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,314
  • Jul 6, 2008 9:39pm Jul 6, 2008 9:39pm
Quoting GreatYves
Nice setup on eur/yen that seems to work..
You seem to like the 1hr charts..what do you think of E/U here?...bounce to 50% at 5771?...I'd like to short it down to around 5500 on a pullback...i just dont know when/where
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  • #4,315
  • Jul 6, 2008 11:59pm Jul 6, 2008 11:59pm
Quoting big_pipin
You seem to like the 1hr charts..what do you think of E/U here?...bounce to 50% at 5771?...I'd like to short it down to around 5500 on a pullback...i just dont know when/where

Sorry I am not able to see the the fibo levels on your chart. None-the-less, it appears to be a big move recently, I would wait for consolidation and then take a look at your fib levels to determine long or short.
  • #4,316
  • Jul 7, 2008 7:02pm Jul 7, 2008 7:02pm


Ok, Let be serious here, I try to find support to that move that make sense but i didn`t find any. All i find out is that todays retracement was 38.2 of the whole down move. The valid move now would be a long from the 9784 break but i got burn last week from a trade that look the same so please help me with your analysis in here. I don`t know the fundies only the TA..
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Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,317
  • Edited 12:34am Jul 8, 2008 12:22am | Edited 12:34am
Well seems like we have a reversal to todays movement and seems like a bullish day. I have a buy stop sitting at price 9772....
The reason I have this buy stop here is because price has stairstepped down and I whant the extra confirmation that price has been able to reverse a swing and that true support has been found at the inner levels also that would brke to downward trendlines ...Rememer price has broken the 61.8 fibb as resistance.
We also have a 61.8 fbb as support in daily chart....
We also have a morning star in the 4 hour chart
I will short if price closes below intraday short. Depeding on time.

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be aware of news
  • #4,318
  • Jul 8, 2008 12:44am Jul 8, 2008 12:44am
Bullish price has broken a downward tredline and we have a probable bullish head and shoulders.
I have a buy stop above previous swing....
Be aware of retracement long from daily chart...

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  • #4,319
  • Jul 8, 2008 2:31am Jul 8, 2008 2:31am
Quoting Shermenator
Bullish price has broken a downward tredline and we have a probable bullish head and shoulders.
I have a buy stop above previous swing....
Be aware of retracement long from daily chart...

Attachment
I agree with you on both counts, Gb & Euro.
  • #4,320
  • Jul 8, 2008 3:58pm Jul 8, 2008 3:58pm
Looking bearigh I have updated our intraday to what as of right now seems to be the key of the day.

We do in fact have a bearish day. Our intraday levels are bearish and we have not hit any targets from yeterday. Also price has rejected a 38.2 fibb from the daily chart and price found resistance on it.

Yesterday in my long I go stopped out with 7 pips lol....
I did the horizontal line trick....PLace stop below previous candles low.


Looking like we have a bearish day coming ahead...

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