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  • #48,061
  • Dec 3, 2008 2:42pm Dec 3, 2008 2:42pm
Both EU and EJ have BB pinching patterns that are similar, and "suggesting" upwards bias......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 30 minutes #1on 12-03-2008.gif Size: 46 KB
Click to Enlarge Name: ej 30 minutes #1on 12-03-2008.gif Size: 46 KB
  • #48,062
  • Dec 3, 2008 2:45pm Dec 3, 2008 2:45pm
Quoting traderathome
Both EU and EJ have BB pinching patterns that are similar, and "suggesting" upwards bias......
The DOW just made a new daily high ej is folowing along so let see if it can pull EU over the daily pivot point(s)
  • #48,063
  • Dec 3, 2008 2:47pm Dec 3, 2008 2:47pm
To the veteran traders out there, do you think it is purely coincidence that last November, December, January and most of February were months of consolidation? Referring to the chart below, they looked pretty similar to what November/December 2008 is setting up to.

Do you think we can expect similar due to "seasonal", or are these "different times"? May be a dumb question but I just decided to go look.

Thanks,
Attached Image
Up or down, gimme a ticket
  • #48,064
  • Dec 3, 2008 2:51pm Dec 3, 2008 2:51pm
Quoting psiholog
If there is one thing that last week taught me is..sentiment is changing. All the markets need for a sustained bull rally is more confidence in the markets. I think last week was the first step. Making the recession "official" was just a way to get past what was done so we can move on to the next step.

note the upper wall of this downtrend we are in...the second it was tapped we saw the drop. I think well push right back up through it and once we break it....9600 first stop followed by 10300.

Attachment
posted that yesterday or monday...here is an update...that upper wall yet again....crucial where we close today and what happens tommorow..a decisive break...eur/usd should break out of its range too (to the upside)

Attached Image (click to enlarge)
Click to Enlarge Name: current.gif Size: 39 KB
Different opinions highly valued, ignorant to slander.
  • #48,065
  • Dec 3, 2008 2:52pm Dec 3, 2008 2:52pm
Quoting SpecialEd
Today I am what my wife has always said - the 1M Man.
lol
  • #48,066
  • Dec 3, 2008 2:54pm Dec 3, 2008 2:54pm
Added fib extensions.....
Attached Image (click to enlarge)
Click to Enlarge Name: eu 30 minutes #2 on 12-03-2008.gif Size: 47 KB
  • #48,067
  • Dec 3, 2008 2:56pm Dec 3, 2008 2:56pm
Inside bar broken to the top side, should go up.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 30 KB
  • #48,068
  • Dec 3, 2008 3:04pm Dec 3, 2008 3:04pm
Quoting psiholog
posted that yesterday or monday...here is an update...that upper wall yet again....crucial where we close today and what happens tommorow..a decisive break...eur/usd should break out of its range too (to the upside)

Attachment
Hmm.... ended the trade session right at that level.. I did notice EU broke above the 4 hr triangle or at least the 1hr triangle with a printed candle..

The 4HR candle (on my broker) prints in 1HR so far its above the upper wall. but creeping down for a retest right now.. Probably a good idea not to trade quite yet like u said before.. unless maybe scalping
  • #48,069
  • Dec 3, 2008 3:07pm Dec 3, 2008 3:07pm
Have a good day everyone. See you somewhere in Asia.
Up or down, gimme a ticket
  • #48,070
  • Dec 3, 2008 3:07pm Dec 3, 2008 3:07pm
Quoting Dansnali
Hmm.... ended the trade session right at that level.. I did notice EU broke above the 4 hr triangle or at least the 1hr triangle with a printed candle..

The 4HR candle (on my broker) prints in 1HR so far its above the upper wall. but creeping down for a retest right now.. Probably a good idea not to trade quite yet like u said before.. unless maybe scalping
yea...close right below that 8600 level at 8591...in other words its 50/50 right now. tommorow we will see either a big bull day or a major selloff again...until then...indecision indecision and scalping at best
Different opinions highly valued, ignorant to slander.
  • #48,071
  • Dec 3, 2008 3:09pm Dec 3, 2008 3:09pm
Here is what I am seeing.....
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1 hour #1 on 12-03-2008.gif Size: 58 KB
  • #48,072
  • Dec 3, 2008 3:10pm Dec 3, 2008 3:10pm
Here is what my 4 Hr triangle looks like.

Jim

Quoting Dansnali
Hmm.... ended the trade session right at that level.. I did notice EU broke above the 4 hr triangle or at least the 1hr triangle with a printed candle..

The 4HR candle (on my broker) prints in 1HR so far its above the upper wall. but creeping down for a retest right now.. Probably a good idea not to trade quite yet like u said before.. unless maybe scalping
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 25 KB
  • #48,073
  • Dec 3, 2008 3:14pm Dec 3, 2008 3:14pm
Here is a closeup of that price area of that 4 Hr Triangle and you can clearly see the Inside Bottom failure I mentioned about 3 Hours ago. Top line represents Inside Bottom of 4 Hr and bottom line is I/T of Daily chart.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 25 KB
  • #48,074
  • Dec 3, 2008 3:15pm Dec 3, 2008 3:15pm
Quoting SpecialEd
does it really have something to do with where IBFX has their servers?
ibfx time is set to GMT, look at the time on any hourly candle and compare to a GMT clock. their daily clicks over at 0:00 as well then

it's a real pain when DST is kicked in cuz the time changes but their candle time does not, and you always have to mentally adjust for the hour. i hate it. right now things are in synch tho.

i usually ignore it all as i don't use them much except for the trade execution, and lately i'm wondering about that. such a hassle to change everything i guess but freakin 8 to 20 pip spreads on EJ can get me motivated pretty quick.
FUBAR...
  • #48,075
  • Dec 3, 2008 3:19pm Dec 3, 2008 3:19pm
Question:

I have started to use text labels with MT4. But they do not move along with the chart as do trend lines and other studies. So, in time they become useless labels. Neither do they maintain relative position if chart is enlarged/shrunk, etc.

Is there a way to "lock" the text to being relative to surroundings so it will move as the chart moves?
  • #48,076
  • Dec 3, 2008 3:19pm Dec 3, 2008 3:19pm
And if you want Daily confirmation, check out the Bullish Engulfing Pattern here on this chart. We may be going back to Circa 2900 or the top of the triangle. 2724 and 2740 areas are key.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
  • #48,077
  • Dec 3, 2008 3:19pm Dec 3, 2008 3:19pm
Quoting hard1head1
Here is what my 4 Hr triangle looks like.

Jim
I have a daily triangle drawn like that.

If you zoom in or go to 1HR and redraw off of the top of the last big upmove we just broke through the upper wall.. The last upmove i am talking about went up to 1.3070.

I should just throw up a chart but both ways to draw it are valid. For how far your zoomed out you would probably need to draw on the 1HR to see what I was talking about. Looks the same as the chart psi put up earlier..

EDIT: here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: doubletriangle.gif Size: 24 KB
  • #48,078
  • Edited 3:37pm Dec 3, 2008 3:25pm | Edited 3:37pm
Quoting Dansnali
The DOW just made a new daily high ej is folowing along so let see if it can pull EU over the daily pivot point(s)
GY and EJ both just tapped their respective 1hr UTL's.

My GY line is drawn from the wick tops, and my EJ line is drawn off the candle body tops. Price immediately stalled at those points on both pairs, and I am short from the same. What's nice about these entry points is you can use much tighter stops than normal with much larger reward ratios.

This behavior has been fairly common lately on afternoon surges on the DOW. It is turning into my favorite time of the day...

I'm short from 2709 EU as well, and I honestly didn't even look at the chart beyond the 1m for my entry point. Now I watch.
FUBAR...
  • #48,079
  • Dec 3, 2008 3:29pm Dec 3, 2008 3:29pm
Quoting traderathome
Is there a way to "lock" the text to being relative to surroundings so it will move as the chart moves?
you want to use the "Text" feature instead of the "Text Label" is all i know. I deleted the other one off the toolbar. it's dumb.

draw it in the largest TF that you usually use the most or else fix the TF's you want it to show up on in the visualization tab under properties to avoid scaling issues. it will still be a pain tho at best.
FUBAR...
  • #48,080
  • Dec 3, 2008 3:32pm Dec 3, 2008 3:32pm
Its cool ole buddy, I just wanted to show where I think the price is going.

Jim

Quoting Dansnali
I have a daily triangle drawn like that.

If you zoom in or go to 1HR and redraw off of the top of the last big upmove we just broke through the upper wall.. The last upmove i am talking about went up to 1.3070.

I should just throw up a chart but both ways to draw it are valid. For how far your zoomed out you would probably need to draw on the 1HR to see what I was talking about. Looks the same as the chart psi put up earlier..

EDIT: here is the chart
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