I think retrace until 1,04 is possible...
- #442
- Jul 29, 2008 3:24pm Jul 29, 2008 3:24pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I shorted this at the top of the channel and am thus inclined to hope this baby is coming back down, anyone else got bearish leanings?!
also of note look how last three days 50 sma on daily has formed support and now we have lift off
Using a 1-2-3 buy formation and plotting fib extensions we could see 1.06230 / 1.0800 if this is in fact wave 3. Do not forget wave 3 is the most powerful of waves according to wave theory. The flag pole was 300 pips long , so the next move up to 1.8000 could make perfect sense.
Of course if the daily 50 sma is broken to the downside all long bets are off
Blogging daily now at www.volume.zone
- #443
- Jul 29, 2008 3:27pm Jul 29, 2008 3:27pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
that is not a channel ... it almost seems like a bull flag and we have broken top of flag on daily
also of note look how last three days 50 sma on daily has formed support and now we have lift off
Using a 1-2-3 buy formation and plotting fib extensions we could see 1.06230 / 1.0800 if this is in fact wave 3. Do not forget wave 3 is the most powerful of waves according to wave theory. The flag pole was 300 pips long , so the next move up to 1.8000 could make perfect sense.
Of course if the daily 50 sma is broken to the downside all long bets are off
Attachment
Blogging daily now at www.volume.zone
- #444
- Jul 29, 2008 3:35pm Jul 29, 2008 3:35pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Pick some targets, if you like 
oh, and daily tom demark resistance is 2.1580 somewhere.
Malcolm, do you see correlation with geppy, or disconection ?
geppy is strange these days.
oh, and daily tom demark resistance is 2.1580 somewhere.
Malcolm, do you see correlation with geppy, or disconection ?
geppy is strange these days.
- #445
- Jul 29, 2008 3:47pm Jul 29, 2008 3:47pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
so far for the retrace...
bullish continuation....
interesting: price stopped at the 15 min tom demark resistance.
bullish continuation....
interesting: price stopped at the 15 min tom demark resistance.
- #446
- Jul 29, 2008 3:47pm Jul 29, 2008 3:47pm
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
Money & Pain
Respect the market, protect your capital, be patient
- #450
- Jul 29, 2008 4:19pm Jul 29, 2008 4:19pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
usd/chf is targeting the 23 fib on this weekly chart as I had posted earlier.
- #453
- Jul 29, 2008 5:02pm Jul 29, 2008 5:02pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #454
- Jul 29, 2008 5:13pm Jul 29, 2008 5:13pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Pick some targets, if you like
oh, and daily tom demark resistance is 2.1580 somewhere.
Malcolm, do you see correlation with geppy, or disconection ?
geppy is strange these days.
gave up trading geppy ..... juts seems to be in a tight range these days
GBPCHF , EURCAD and GBPCAD seem to keep me busy during the trading day
eurcad was an 80 pip day , gbpcad 70 and gbpchf 45 plus another 20 later
here is trade set up gbpchf for this morning
1) double pivot point lows
2) rsi crossed up thru 40
3) price crossed up thru the 50 sma on the 10 min
Time to go long above 2.0600 but I did not enter until break out 2.0650 due to over head resistance congestion on multiple times frames between 2.0600 and 2.0650
Blogging daily now at www.volume.zone
- #455
- Jul 29, 2008 5:24pm Jul 29, 2008 5:24pm
- Joined Oct 2007 | Status: Trader | 3,461 Posts
I see double low with higher close, its interesting. But my god, a 10 min chart !
I have only 2-3 hours late new york session, and early asia session, so I have to stick to the daily :-(
Good trading tonite, I have no valid pattern for geppy, only slow stochastic crossing up on daily. And itīs wednesday here, so up we go...
I have only 2-3 hours late new york session, and early asia session, so I have to stick to the daily :-(
Good trading tonite, I have no valid pattern for geppy, only slow stochastic crossing up on daily. And itīs wednesday here, so up we go...
gave up trading geppy ..... juts seems to be in a tight range these days
GBPCHF , EURCAD and GBPCAD seem to keep me busy during the trading day
eurcad was an 80 pip day , gbpcad 70 and gbpchf 45 plus another 20 later
here is trade set up gbpchf for this morning
1) double pivot point lows
2) rsi crossed up thru 40
3) price crossed up thru the 50 sma on the 10 min
Time to go long above 2.0600 but I did not enter until break out 2.0650 due to over head resistance congestion on multiple times frames between 2.0600 and 2.0650
Attachment
- #457
- Jul 29, 2008 5:38pm Jul 29, 2008 5:38pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I see double low with higher close, its interesting. But my god, a 10 min chart !
I have only 2-3 hours late new york session, and early asia session, so I have to stick to the daily :-(
Good trading tonite, I have no valid pattern for geppy, only slow stochastic crossing up on daily. And itīs wednesday here, so up we go...
I am on west coast Canada and I like to trade euro / us overlap
4am to 8am my time , then I let trades run for duration of day if they are moving in my direction
I have found 10 min chart best chart to day trade off
Blogging daily now at www.volume.zone
- #460
- Jul 30, 2008 7:07am Jul 30, 2008 7:07am
- Joined Oct 2007 | Status: Trader | 3,461 Posts
Now gbp/chf stucks in 2 R. triangle in H4
Testing DR1
(sorry cant post chart internet prob)
Just need patience.