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  • #13,781
  • Jul 9, 2008 10:21am Jul 9, 2008 10:21am
Quoting emda
we have another little diamond in the m15
now what
, let's see.... UP
  • #13,782
  • Jul 9, 2008 10:26am Jul 9, 2008 10:26am
Quoting Clouds
, let's see.... UP
so far your calls have been gold keep it up.
  • #13,783
  • Jul 9, 2008 10:37am Jul 9, 2008 10:37am
In a wierd kinda way Fundies favors dollars....

Oil for example is breaking down....

So now i need a technical reason to go short...I'm still on the short train...

The 4H diamond failure would be my technical reason. GL.

Not saying it will fail but if it does i'm loading my canoooo and rowing downstream to mexico maybe beyond.
  • #13,784
  • Jul 9, 2008 10:45am Jul 9, 2008 10:45am
Quoting Clouds
, let's see.... UP
UP is good, I'm still long, but market's still undecided...
the answer will come when the price breaks out of the 1.5709-1.5748 range
  • #13,785
  • Jul 9, 2008 11:02am Jul 9, 2008 11:02am
Quoting Clouds
Yep.. Maybe we'll get into a faster channel up, too.
Well price just hit R1 and stalled.

I am still long though...
  • #13,786
  • Edited 11:21am Jul 9, 2008 11:06am | Edited 11:21am
Quoting FXCapitalist
That diamond shattered to the upside. :]
Diamonds are usually reversal patterns. I had one, the other day (this week) on m15, but it came out as a continuation of the trend...

But at the same day, I had a second one that reversed nicely.

As any formation, it can fail from time to time.

Just be ready with an order placed for the break above or below.

Cheers.
  • #13,787
  • Jul 9, 2008 11:42am Jul 9, 2008 11:42am
diamonds or any contracting triangle is just a sign that the market is undecided, and it can as you experienced, shoot in any direction, so don't let the shape fool you, check for other signs instead...

I'm still long, but moving to cover my position below 1.5700, as I'm heading to sleep soon, good luck everybody..
  • #13,788
  • Jul 9, 2008 11:49am Jul 9, 2008 11:49am
Can still go further up
  • #13,789
  • Jul 9, 2008 12:07pm Jul 9, 2008 12:07pm
Quoting uncleforex
Can still go further up
if 1.5700-1.5720 holds, we could see 1.5900 by end of this week, who knows? I'm going to sleep now..
  • #13,790
  • Jul 9, 2008 12:09pm Jul 9, 2008 12:09pm
Quoting uncleforex
Can still go further up
Maybe not today.

Hold area observed in H1. It's a downtrend line...

Forming a triangle.

Later.
  • #13,791
  • Jul 9, 2008 12:21pm Jul 9, 2008 12:21pm
down down down,, u are going down,,
  • #13,792
  • Jul 9, 2008 12:39pm Jul 9, 2008 12:39pm
Quoting FxApasionado
down down down,, u are going down,,
Price does not normally hang around major S/R levels for a long time unless it's gonna break them. We may get a dip but it looks like it will only be a dip to provide better buy in points for trend traders.
  • #13,793
  • Jul 9, 2008 1:14pm Jul 9, 2008 1:14pm
The dead session might see e/u try to go up further a bit.

Let's see what the Aussies and Japs think about the euro
  • #13,794
  • Jul 9, 2008 1:18pm Jul 9, 2008 1:18pm
Quoting FxApasionado
down down down,, u are going down,,
forex is like mating, each currency must take it's turn, now it's eur's turn, up up up
  • #13,795
  • Jul 9, 2008 1:21pm Jul 9, 2008 1:21pm
Quoting Clouds
forex is like mating, each currency must take it's turn, now it's eur's turn, up up up
Are you in Australia? Not sleeping heh?
  • #13,796
  • Jul 9, 2008 1:22pm Jul 9, 2008 1:22pm
Quoting uncleforex
Are you in Australia? Not sleeping heh?
No, the US, its 3PM.
  • #13,797
  • Jul 9, 2008 1:23pm Jul 9, 2008 1:23pm
Quoting Clouds
No, the US, its 3PM.
Nice, here its 4.30am
  • #13,798
  • Jul 9, 2008 1:26pm Jul 9, 2008 1:26pm
Quoting Clouds
No, the US, its 3PM.
Hey Clouds, have you spied over at your GU chart lately?
Just digging in the trenches like everyone else!
  • #13,799
  • Jul 9, 2008 1:38pm Jul 9, 2008 1:38pm
Quoting eohater
Hey Clouds, have you spied over at your GU chart lately?
yes
  • #13,800
  • Jul 9, 2008 3:32pm Jul 9, 2008 3:32pm
Quoting eohater
Hey Clouds, have you spied over at your GU chart lately?
should we short it?
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