change the future, not the past
- #25,782
- Edited Aug 31, 2008 1:08pm Aug 30, 2008 10:14pm | Edited Aug 31, 2008 1:08pm
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
- #25,783
- Aug 30, 2008 10:24pm Aug 30, 2008 10:24pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #25,784
- Edited 11:00pm Aug 30, 2008 10:41pm | Edited 11:00pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #25,785
- Aug 31, 2008 4:20am Aug 31, 2008 4:20am
- | Joined Jun 2008 | Status: Trader | 1,079 Posts
I recommend you read something else as this sentence is now concluded.
- #25,786
- Aug 31, 2008 4:27am Aug 31, 2008 4:27am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #25,790
- Aug 31, 2008 6:12am Aug 31, 2008 6:12am
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
possible scenarios for coming week.
Plan
short beetween 4730-4760 or below 4650
long above 4690 and 4760 for few pips -countertrend trades so be carefull.
Plan
short beetween 4730-4760 or below 4650
long above 4690 and 4760 for few pips -countertrend trades so be carefull.
- #25,791
- Edited 6:36am Aug 31, 2008 6:21am | Edited 6:36am
- | Commercial User | Joined Mar 2008 | 9,069 Posts
possible scenarios for coming week.
Plan
short beetween 4730-4760 or below 4650
long above 4690 and 4760 for few pips -countertrend trades so be carefull.
the oil price is poise to bring EUR/USD up as for now...
but I guess NFP may sink EUR/USD down...
sonic
- #25,792
- Aug 31, 2008 9:04am Aug 31, 2008 9:04am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #25,793
- Aug 31, 2008 9:06am Aug 31, 2008 9:06am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #25,795
- Aug 31, 2008 9:26am Aug 31, 2008 9:26am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
speaking of which, is there any source that can learn me about indicators and about what indicators should give you the same sell/buy signal to enter a trade?
I like RSI , but the MOM and ROC are very much the same. They respond a little faster then most other indicators.
As mentioned it is how you use the indicator that makes it of use. The RSI most thing , sell when it is overbought and buy when it is oversold .... true and not true ... there are loads of OTHER ways to use an indicator like RSI.
The chart below is the gbpjpy for Friday. Note how i drew a trend line on the RSI. It showed bullish divergence on that double bottom at 198.40 , so there fore there was no sell trade till the bullish divergence line broke, and because we are trapped under the 50 sma on the 1`0 min no long trade either till this was broken. I stalked this trade all Friday morning , and as the 50 sma showed the downtrend to remin in tact the plan was to short it AS SOON AS THE BULLISH DIVERGENCE TREND LINE ON THE RSI WAS BROKEN. This trade gave a nice 100 pip trade. I missed the trade as I was distracted trading oil.
The second chart is the eurcad .. very choppy on Friday , However draw a trend line across the tops of the RSI and we can see the downtrend nice and clearly. The rsi did try to break the trend line at about 6:00 am on the chart , but it is not a long until a break of the 50 sma. and in fact the price formed a really nice evening star candle formation giving a sell trigger . Using the rsi in this chart you could see that you should have only been looking for short opportunities on Friday .
The third chart is usdchf ... note the bullish divergence and the W ( double bottom) on the RSI on the test of the bullish divergence trendline . This was a sweet long for 100 pips.
As you can see there are more than just overbought and oversold in indicators.
Blogging daily now at www.volume.zone
- #25,796
- Aug 31, 2008 9:27am Aug 31, 2008 9:27am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #25,797
- Aug 31, 2008 9:35am Aug 31, 2008 9:35am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
could this be a bear flag showing up in the RSI on daily usdchf ...you cannot see this in the price yet , but that 1.1060 is a majpor resistance level on the daily charts.
I will be looking for that small trend line on the rsi daily on usdchf to break for a 200 - 250 pip trade to the downside
I will be looking for that small trend line on the rsi daily on usdchf to break for a 200 - 250 pip trade to the downside
Blogging daily now at www.volume.zone
- #25,798
- Aug 31, 2008 9:40am Aug 31, 2008 9:40am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
something has to give on the usdjpy daily ...
look at the way that rsi is coming to a peak of a wedge.
IF that 108 level breaks ( 50 sma on daily ) think 200 - 400 pips sell trade. If this is the case we need the rsi to remain in bearish territory under the 50 level.
look at the way that rsi is coming to a peak of a wedge.
IF that 108 level breaks ( 50 sma on daily ) think 200 - 400 pips sell trade. If this is the case we need the rsi to remain in bearish territory under the 50 level.
Blogging daily now at www.volume.zone
- #25,799
- Aug 31, 2008 9:49am Aug 31, 2008 9:49am
- | Joined Feb 2008 | Status: Live long and have fun :) | 1,386 Posts
Hope you're having a good weekend folks 
My personal opinion on what's expected at the start of the week attached below. As I see it we've done our about a 3 wave thingy up from the new low around 570 and now we've done a 2 wave thingy down and I think a third is likely. Now my guess is that until around London open on monday we'll slowly return to about 720 which would mean hitting the red descending trendline on the chart and then we'll go down and test the previous low around 570 as mentioned. There we'll either go back up and probably a lot of up breaking that little descending trendline or make a new low around 30-50 pips below 570 and then go up. The possibility it'll keep falling streight down below 45 sounds unlikely to me, but who knows.. Anyway, it's all my speculation, so trade what you see. I'll be looking to short for the sizable south run if the retrace indeed goes to around 720 and stalls there not breaking the line and goes below 47 again around London open tomorrow as confirmation. The short option remains valid as long as price doesn't break up the orange upper trendline around 750 tommorow. A break up from 4820 would signal the start of a correction I believe, with first target of 49 and second of first fib around 513.
Good trading next week people
My personal opinion on what's expected at the start of the week attached below. As I see it we've done our about a 3 wave thingy up from the new low around 570 and now we've done a 2 wave thingy down and I think a third is likely. Now my guess is that until around London open on monday we'll slowly return to about 720 which would mean hitting the red descending trendline on the chart and then we'll go down and test the previous low around 570 as mentioned. There we'll either go back up and probably a lot of up breaking that little descending trendline or make a new low around 30-50 pips below 570 and then go up. The possibility it'll keep falling streight down below 45 sounds unlikely to me, but who knows.. Anyway, it's all my speculation, so trade what you see. I'll be looking to short for the sizable south run if the retrace indeed goes to around 720 and stalls there not breaking the line and goes below 47 again around London open tomorrow as confirmation. The short option remains valid as long as price doesn't break up the orange upper trendline around 750 tommorow. A break up from 4820 would signal the start of a correction I believe, with first target of 49 and second of first fib around 513.
Good trading next week people
On the path to Enrichment.
- #25,800
- Aug 31, 2008 10:36am Aug 31, 2008 10:36am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Sun Trader, you had anniversary and didn’t invite us to the party, 3000 posts since March 2006.
My respect, it’s not for the 3000 posts, it’s for the relation of the time being member AND the quality of your posts.
Happy Anniversary and thanks for taking the valued time, guiding all us folks through that nasty FX jungle. I think I’m talking for most of us here in this thread.
Will have a drink on you.
As a small gift we send you a brand new avatar:
