Attachments: EURUSD

EURUSD

#47,281
Nov 26, 2008 7:33pm Nov 26, 2008 7:33pm

ak4x
Joined Aug 2007 | Status: TARFU... | 7,015 Posts

look at this mess... that's why I'm gettin outa here for the night.

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FUBAR...

#47,282
Nov 26, 2008 7:39pm Nov 26, 2008 7:39pm

psiholog
Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts

Quoting ak4x

Disliked

look at this mess... that's why I'm gettin outa here for the night.

Ignored

ak4x...you seem stressed out =/..its thanksgiving...take a break and relax...think only of the turkey...gobble

...i still recall that pic of your tradestation...please indulge yourself in the holiday spirit...dont spend your time on forex like the no life psiholog...im sure you have many things wonderful in your life you could be doing right now...gobble

Different opinions highly valued, ignorant to slander.

#47,283
Nov 26, 2008 8:54pm Nov 26, 2008 8:54pm

Dansnali
| Joined Nov 2008 | Status: Trader | 218 Posts

Quoting psiholog

Disliked

ak4x...you seem stressed out =/..its thanksgiving...take a break and relax...think only of the turkey...gobble...i still recall that pic of your tradestation...please indulge yourself in the holiday spirit...dont spend your time on forex like the no life psiholog...im sure you have many things wonderful in your life you could be doing right now...gobble

Ignored

Your head and shoulders pattern is still shaping up nicely.. looks like it might be European session when it finishes up though. I didn't notice it at all and even on the one hour until i zoomed out.. then it became as clear as your chart.. and seems to be on track.. If I were a bit braver i would set a pending order maybe.. but I had a few successful trades today and i think once the drop starts it wont be over very quickly.. I might miss the neckline drop but should be some room left after i get some sleep..

Good trades.. and keep posting.. I've been learning in here and its been easier to Trade less.. since i have something to do while the market moves sideways.. or super slowly..

#47,284
Nov 26, 2008 9:14pm Nov 26, 2008 9:14pm

PipPilot
| Joined Sep 2008 | Status: Trader | 88 Posts

Quoting Dansnali

Disliked

I notice i have at least one of the same gaps and took a measurement

Ignored

TS uses Gain Capital on their back end. I typically only see gaps on Sunday open on any timeframe. Spread is not fixed. One thing to consider is the data that is actually plotted on your chart. TS only plots the bid.

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#47,285
Nov 26, 2008 9:25pm Nov 26, 2008 9:25pm

PipPilot
| Joined Sep 2008 | Status: Trader | 88 Posts

Quoting psiholog

Disliked

i honestly dont know how the mechanism works. each broker is different with different "data feeds" as ak4x put it. the difference is ibfx has 4 numbers after the decimal while fxpro has 5...this confuses me therefore...

Ignored

Think of that 5th decimal place (on the non-Yen pairs) as a tenth (1/10) of a pip. This is more of sales lure by those brokers that use variable spreads to entice traders with lower trading costs. I use it my in my SL to avoid "whole" pip numbers and provide "better" pricing accuracy, but I can hide the fifth decimal in any of my indicators if needed.

These same brokers also give a 3rd decimal place on the Yen pairs

#47,286
Nov 26, 2008 9:25pm Nov 26, 2008 9:25pm

Dansnali
| Joined Nov 2008 | Status: Trader | 218 Posts

Quoting PipPilot

Disliked

TS uses Gain Capital on their back end. I typically only see gaps on Sunday open on any timeframe. Spread is not fixed. One thing to consider is the data that is actually plotted on your chart. TS only plots the bid.

Ignored

looks like you had the same small gap. since were talking open and close so candle bodies only. I'll be watching for this more and see how often the gaps get "filled"

#47,287
Nov 26, 2008 9:35pm Nov 26, 2008 9:35pm

PipPilot
| Joined Sep 2008 | Status: Trader | 88 Posts

Quoting Dansnali

Disliked

looks like you had the same small gap. since were talking open and close so candle bodies only. I'll be watching for this more and see how often the gaps get "filled"

Ignored

Yes but highs and lows overlapped, so that technically is not a gap. For me a gap is a space between the high and the low of two adjacent bars on any TF.

#47,288
Nov 26, 2008 9:38pm Nov 26, 2008 9:38pm

doblece
Joined May 2006 | Status: Still here. | 2,602 Posts

Quoting ak4x

Disliked

And a chart for Doblece...

Seriously tho, this is why I like the 20m over the 15m when you have the option.. I looked at the 15m and had no idea what that meant.

Ignored

Thanks! got my hair all cleaned up with so many shampoos

I was actually talking about this (see chart).
And the number for the potential neckline of the Inverted H&S I was seeing developing, was actually 1.2960 and NOT 1.2980 (anyway I always leave room for +/- 20 pips in any calculations).

Funny enough, the potential target for any of the inverted H&S by the head distance to the neckline (the absolutely symmetrical one I was hoping to see, and the real one that has formed) is almost the same, at 1.3030 (which would most probably reach then 1.3050 thanks to the law of acumen: ("touched 3020, went to 3050...").

Anyway I'll be shorting around 1.3015 if not broken.
Or longing if broken.

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#47,289
Nov 26, 2008 9:41pm Nov 26, 2008 9:41pm

psiholog
Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts

Quoting Dansnali

Disliked

Your head and shoulders pattern is still shaping up nicely.. looks like it might be European session when it finishes up though. I didn't notice it at all and even on the one hour until i zoomed out.. then it became as clear as your chart.. and seems to be on track.. If I were a bit braver i would set a pending order maybe.. but I had a few successful trades today and i think once the drop starts it wont be over very quickly.. I might miss the neckline drop but should be some room left after i get some sleep..

Ignored

I have set a limit order at 1.2950...dont care if it is reached or not as a head and shoulder pattern is most safely played when the neckline gets broken. So even if you miss the tip of the right shoulder..no problem...the real move is when we break below 1.2800/20 as that is the true confirmation this is indeed a head and shoulder and we should see a nice drop from that point (300pips or so). I am enticed to put a sell here but dont want to rush it just yet...this light volume is not appealing for any positions at this time. Counterstrike is

Different opinions highly valued, ignorant to slander.

#47,290
Nov 26, 2008 9:44pm Nov 26, 2008 9:44pm

Dansnali
| Joined Nov 2008 | Status: Trader | 218 Posts

Quoting PipPilot

Disliked

Yes but highs and lows overlapped, so that technically is not a gap. For me a gap is a space between the high and the low of two adjacent bars on any TF.

Ignored

I guess they are called "common gaps" The only gaps i ever really seen before were on sundays. But now that psi pointed these out I'm going to at least take a look.. maybe somewhat meaningless but when someone watches price action as much as psi does its worth taking note i figure.

There is a small space between the close and open of the next candle. So were not talking about after the open when the price moves up and makes a wick. and the wick covers the "gap" just the candle bodies. But Definatly not the "gap" that most people would be looking for. I dont think I'm going to start a gap trading system with it.. heh.. maybe another little tool though.

#47,291
Nov 26, 2008 9:50pm Nov 26, 2008 9:50pm

psiholog
Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts

doblece...im taking your "criticism" lesson from last friday when i say this

. I really dont think there is any inverted h&s here...there was a potential..but not anymore. instead its the classic laws of a channel..stick to one wall..break hard to the other wall..consolidate to the middle wall again...possibly consolidate to another wall again after which violent break to the other wall. In this case we broke down hard during ny session to form the lower wall and since we consolidated to the middle wall and continue so to the upper wall which should be followed by another hard break down to the lower wall. Given this downtrend has formed recently..i dont see why it would end now with a break up

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Different opinions highly valued, ignorant to slander.

#47,292
Nov 26, 2008 10:08pm Nov 26, 2008 10:08pm

doblece
Joined May 2006 | Status: Still here. | 2,602 Posts

Quoting psiholog

Disliked

Given this downtrend has formed recently..i dont see why it would end now with a break up

Ignored

I don't see why not, either

Paraphrasing your sentence: given the uptrend that has formed recently, I don't see why it would end (prematurely) with a break down...

One thing I'm 100% certain though: One of both alternatives will be the right one.
And, maybe both... if entries taken timely.

http://www.forexfactory.com/showpost...50&postcount=4

Trends within trends within trends within trends....

and tomorrow is thanksgiving.

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#47,293
Nov 26, 2008 10:14pm Nov 26, 2008 10:14pm

psiholog
Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts

Quoting doblece

Disliked

I don't see why not, either
Paraphrasing your sentence: given the uptrend that has formed recently, I don't see why it would end (prematurely) with a break down...

One thing I'm 100% certain though: One of both alternatives will be the right one.
And, maybe both... if entries taken timely.

http://www.forexfactory.com/showpost...50&postcount=4

Ignored

...your funny doblece

...i enjoy "battle of the minds" haha. here is my counter counter argument. the trend from 1.2450 was already broken on my charts

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Different opinions highly valued, ignorant to slander.

#47,294
Nov 26, 2008 10:19pm Nov 26, 2008 10:19pm

doblece
Joined May 2006 | Status: Still here. | 2,602 Posts

Quoting psiholog

Disliked

...your funny doblece...i enjoy "battle of the minds" haha. here is my counter counter argument. the trend from 1.2450 was already broken on my charts

Ignored

And here's my counter-counter-counter.
Use pitchforks, they're easier to locate median lines. (I'm not saying with this that you might not be absolutely right, anyway.)

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#47,295
Nov 26, 2008 10:26pm Nov 26, 2008 10:26pm

psiholog
Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts

Quoting doblece

Disliked

And here's my counter-counter-counter.
Use pitchforks, they're easier to locate median lines. (I'm not saying with this that you might not be absolutely right, anyway.)

Ignored

heres my super counter counter counter quadruple counter argument. you told me long ago about andrew's pitchfork...very similar to what i do. i just dont feel the same accuracy with it..pa is not so smooth as dracula's fork suggests...remember friday when i said "price action does not make sense" with that spike down to 1.2450 which violated the inverted h&s i saw...turhovach said all pa is logical and makes sense..he was totally right...that spike was the start of the uptrend. pitchfork ignore many of these spikes so pa is not accurate to the pip in my opinion. still...it is a holiday...i shouldnt even be here...in fact i am gone!...going to see some movie called twilight. good pippin all

Different opinions highly valued, ignorant to slander.

#47,296
Edited 11:47pm Nov 26, 2008 10:56pm | Edited 11:47pm

doblece
Joined May 2006 | Status: Still here. | 2,602 Posts

Quoting psiholog

Disliked

remember friday when i said "price action does not make sense" with that spike down to 1.2450 which violated the inverted h&s i saw...turhovach said all pa is logical and makes sense..he was totally right...that spike was the start of the uptrend.

Ignored

Like a foot thump at the bottom of the pool to get one's head back to fresh air (marked it in the second chart).

Quoting psiholog

Disliked

pitchfork ignore many of these spikes so pa is not accurate to the pip in my opinion.

Ignored

PA is NEVER accurate to the pip, in ANY indicator. The market moves. Fixed lines don't. It's a constant readjustment.

Here some possible directions with pitchforks... two down, three up (mild, trending, aggressive).

138.2% fib extension is at 1.3326.

Note: where it says "double bottoms" should say in fact: "double tops".
Maybe it's my subconscious speaking? Hmmm...
Take care and enjoy!

(as in the end, no matter how right or wrong we could be, the real proof is: how many pips did that view really bring in...) = Only trade what YOU see.

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