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  • #23,681
  • Aug 25, 2008 9:01pm Aug 25, 2008 9:01pm
Quoting trading801
hmm i do know that.. but i tot that only indentifies potential support ressistance.. not trend
You said it, go from 4h, 1h, 30min 15min to your TF and you will notice what is the present daytrend.
  • #23,682
  • Aug 25, 2008 9:02pm Aug 25, 2008 9:02pm
Quoting aalam
Hello all,

First time writing on this thread.

Can someone confirm the head and shoulder on 4 min chart please?


Well I dont see a 4 min chart but on the 4hr chart I see one
Greed Kills
  • #23,683
  • Aug 25, 2008 9:04pm Aug 25, 2008 9:04pm
Quoting trading801
Arrgghhh BRO!

Seriously how do you identify such? i really like to learn..

ok my thoughts are along the line that it happened like this yesterday too... slowly but surely it went up....
Did you read the info on the thread that I sent you? Right now just looks down to me, based on my charts. It could go up...gov't.'s can intervene, there could be an unexpected major announcements, a lot can happen, but short of something really unpredictable, I see down for a while. Like I said before, just my very humble opinion.
  • #23,684
  • Aug 25, 2008 9:04pm Aug 25, 2008 9:04pm
Quoting mhughes104
Well I dont see a 4 min chart but on the 4hr chart I see one
Sorry I meant 4 hrs.
  • #23,685
  • Aug 25, 2008 9:05pm Aug 25, 2008 9:05pm
Quoting aalam
Hello all,

First time writing on this thread.

Can someone confirm the head and shoulder on 4 min chart please?
Doesn't mean much but I see it.

Mike
  • #23,686
  • Aug 25, 2008 9:10pm Aug 25, 2008 9:10pm
Quoting riz79fx
yup ...i know..i also trade with news

just sharing...

still newbie
At least you are honest. Please don't copy and paste. We get all we can handle. Way more.

  • #23,687
  • Aug 25, 2008 9:10pm Aug 25, 2008 9:10pm
Quoting PipAV8tor
Did you read the info on the thread that I sent you? Right now just looks down to me, based on my charts. It could go up...gov't.'s can intervene, there could be an unexpected major announcements, a lot can happen, but short of something really unpredictable, I see down for a while. Like I said before, just my very humble opinion.

i did i did.. guess i really always get on the wrong boat LOL
  • #23,688
  • Aug 25, 2008 9:12pm Aug 25, 2008 9:12pm
Quoting riz79fx
yup ...i know..i also trade with news

just sharing...

still newbie
We're all learning as we go. As info, stoch is a ranging indicator, it's good if the market's ranging. This pair's trending right now so you may want to look towards trending indicators, ADX, moving averages etc.

My take on this pair is it's flowing south via daily, and 15 min charts, the 4 hr chart is also down but a weaker trend that's growing.

I'm presently short and will ride the trend until my stop kicks me out.

Cheers!
"The markets are the greatest chess match ever played."
  • #23,689
  • Aug 25, 2008 9:14pm Aug 25, 2008 9:14pm
German IFO news historically will bring the pair up 80 pips or down 80 pips..tighten ur seatbelt.
  • #23,690
  • Aug 25, 2008 9:14pm Aug 25, 2008 9:14pm
Quoting aalam
A possible head and shoulder on 4 hour chart??

Does anyone else see that??
good find...H&S on 1hr and 4hr
  • #23,691
  • Aug 25, 2008 9:15pm Aug 25, 2008 9:15pm
Quoting SunTrader
At least you are honest. Please don't copy and paste. We get all we can handle. Way more.

Say 24 a day ?

Whatever makes your Life easier. Mine is Good !!!

Bruce
{Promotion Removed}
  • #23,692
  • Aug 25, 2008 9:19pm Aug 25, 2008 9:19pm
Quoting trading801
i did i did.. guess i really always get on the wrong boat LOL
Did you put any of the indicators on your chart? If you did, you would not be in a buy at this very moment. You'd be watching... Like I said, Good Luck.
There is a lot of time between now and the London open and with your 200 pip SL, maybe...
  • #23,693
  • Aug 25, 2008 9:22pm Aug 25, 2008 9:22pm
Quoting Tradester
We're all learning as we go. As info, stoch is a ranging indicator, it's good if the market's ranging. This pair's trending right now so you may want to look towards trending indicators, ADX, moving averages etc.

My take on this pair is it's flowing south via daily, and 15 min charts, the 4 hr chart is also down but a weaker trend that's growing.

I'm presently short and will ride the trend until my stop kicks me out.

Cheers!
You may want to stay away from lagging indicators all together.
  • #23,694
  • Aug 25, 2008 9:23pm Aug 25, 2008 9:23pm
Quoting trading801
i did i did.. guess i really always get on the wrong boat LOL
I really think that you want to learn so I will give you a PM tomorrow after the NY session with a simple MT4 setup that will help you to see where the trend is going to, remember that there is no perfect system but it might open you the eyes a little.
I notice that you are trading live, I wouldn’t do that until you are ready to place your orders with a good reason.
  • #23,695
  • Aug 25, 2008 9:23pm Aug 25, 2008 9:23pm
http://www.smirkingchimp.com/thread/16643

Snippet:

The Fed lowered interest rates to 2 per cent hoping to help recapitalize the banks and stimulate consumer spending, but it hasn't worked. The banks still don't have the capacity to lend, so the main artery for credit distribution remains clogged and GDP is dropping off. A python has wrapped itself around the financial system and is gradually cutting-off the oxygen supply. Naturally, when the credit system is broken, the money supply contracts. That's true here, too. What's troubling is the speed at which it is all of this is taking place. It's "the biggest one-month fall since modern records began in 1959". The process is accelerating and will require the Fed to slash rates at its September meeting.
Economist Nouriel Roubini puts it like this:
"Over time inflation will be the last problem that the Fed will have to face as a severe US recession and global slowdown will lead to a sharp reduction in inflationary pressures in the U.S.: slack in goods markets with demand falling below supply will reduce pricing power of firms; slack in labor markets with unemployment rising will reduce wage pressures and labor costs pressures; a fall in commodity prices of the order of 30% will further reduce inflationary pressure.
The Fed will have to cut the Fed Funds rate much more as severe downside risks to growth and to financial stability will dominate any short-term upward inflationary pressures. Leaving aside the risk of a collapse of the US dollar given this easier monetary policy the Fed Funds rate may end up being closer to 0% than 1% by the end of this financial crisis and severe recession cycle."
Interest rates are going down not up as the futures market believes.


Sorry To Disappoint BUT Cuts are ahead as I also have been saying !
If it happens EUR/USD will bounce back to ?

Stay Tuned Folks ...

Am I at My Limit Yet ?

Bruce
{Promotion Removed}
  • #23,696
  • Aug 25, 2008 9:29pm Aug 25, 2008 9:29pm
Quoting Warren Forex
http://www.smirkingchimp.com/thread/16643

Snippet:

The Fed lowered interest rates to 2 per cent hoping to help recapitalize the banks and stimulate consumer spending, but it hasn't worked. The banks still don't have the capacity to lend, so the main artery for credit distribution remains clogged and GDP is dropping off. A python has wrapped itself around the financial system and is gradually cutting-off the oxygen supply. Naturally, when the credit system is broken, the money supply contracts. That's true here, too. What's troubling is the speed at which it is all of this is taking place. It's "the biggest one-month fall since modern records began in 1959". The process is accelerating and will require the Fed to slash rates at its September meeting.
Economist Nouriel Roubini puts it like this:
"Over time inflation will be the last problem that the Fed will have to face as a severe US recession and global slowdown will lead to a sharp reduction in inflationary pressures in the U.S.: slack in goods markets with demand falling below supply will reduce pricing power of firms; slack in labor markets with unemployment rising will reduce wage pressures and labor costs pressures; a fall in commodity prices of the order of 30% will further reduce inflationary pressure.
The Fed will have to cut the Fed Funds rate much more as severe downside risks to growth and to financial stability will dominate any short-term upward inflationary pressures. Leaving aside the risk of a collapse of the US dollar given this easier monetary policy the Fed Funds rate may end up being closer to 0% than 1% by the end of this financial crisis and severe recession cycle."
Interest rates are going down not up as the futures market believes.


Sorry To Disappoint BUT Cuts are ahead as I also have been saying !
If it happens EUR/USD will bounce back to ?

Stay Tuned Folks ...

Am I at My Limit Yet ?

Bruce
Yes... The smirkingchimp.com is on my favorites.

Right under Bloomberg and Rueters and beside the theshittingdonkey.

Come on...
  • #23,697
  • Aug 25, 2008 9:32pm Aug 25, 2008 9:32pm
Quoting acumen
Yes... The smirkingchimp.com is on my favorites.

Right under Bloomberg and Rueters and beside the theshittingdonkey.

Come on...
I Love Donkey's ... They are so Stubborn ...

Going To Get Some Sleep ...

Take care and never change your style as it is yours and unique ...

That is a compliment ...

Later ...


Bruce
{Promotion Removed}
  • #23,698
  • Aug 25, 2008 9:32pm Aug 25, 2008 9:32pm
Quoting cobraforex
I really think that you want to learn so I will give you a PM tomorrow after the NY session with a simple MT4 setup that will help you to see where the trend is going to, remember that there is no perfect system but it might open you the eyes a little.
I notice that you are trading live, I wouldn’t do that until you are ready to place your orders with a good reason.
Doesn't the indicator work during the European session?

Dude - this may hurt but you may not be ready to be dolling out advice.
  • #23,699
  • Aug 25, 2008 9:33pm Aug 25, 2008 9:33pm
Quoting Warren Forex
I Love Donkey's ... They are so Stubborn ...

Going To Get Some Sleep ...

Take care and never change your style as it is yours and unique ...

That is a compliment ...

Later ...


Bruce
You'll be here for the European session won't you?
  • #23,700
  • Aug 25, 2008 9:36pm Aug 25, 2008 9:36pm
Quoting PipAV8tor
Did you put any of the indicators on your chart? If you did, you would not be in a buy at this very moment. You'd be watching... Like I said, Good Luck.
There is a lot of time between now and the London open and with your 200 pip SL, maybe...
lol bro.. my 200 SL saved me from yesterday.. got out today with a little profits.. but not this.. i respect of all the experienced bro here.. so i ended trade.. took 3 pips loss.. its ok .. a lesson for my trigger finger...

i only have MA5 on my chart...

one advise.. you think it is too early to place a short now?
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