Hey Naija
For it to be a DBHLC, the close of the bar needs to close LOWER then the previous bars LOW
Mike
Check out more (All) posts from my PA teacher, Mike. You'll be glad you did.
Indicators show the past. Price Action "Indicates" the future.
- #17,921
- Jan 6, 2009 9:26am Jan 6, 2009 9:26am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Check out more (All) posts from my PA teacher, Mike. You'll be glad you did.
- #17,922
- Jan 6, 2009 9:45am Jan 6, 2009 9:45am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
This is important when looking at DBHLC and DBLHC.
Check out more (All) posts from my PA teacher, Mike. You'll be glad you did.
I believe . . .
- #17,923
- Jan 6, 2009 9:47am Jan 6, 2009 9:47am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #17,924
- Jan 6, 2009 9:52am Jan 6, 2009 9:52am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Is anyone watching the daily Aud/Usd chart? Interesting development there on the daily. It appears there is a bullish bar forming on that chart, or am I reading it wrong?
the trends look nice and strong for 2009, let's just hope they stay up like this
I believe . . .
- #17,925
- Jan 6, 2009 9:56am Jan 6, 2009 9:56am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
yes certainly, may be a nice confirmation of a breakout from the accumulated historical highs here around 0.71ish region.
the trends look nice and strong for 2009, let's just hope they stay up like this
Patience + Humility + Study = Success
- #17,927
- Edited 10:19am Jan 6, 2009 10:04am | Edited 10:19am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #17,928
- Jan 6, 2009 10:16am Jan 6, 2009 10:16am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Anyone still in the G/C???? I'm still 1/2 in. Coming up to a PPZ, not sure if it can go more. 1.6000 has been broken and I'm thinking 1.7525 is the next stop if it breaks 1.6720 ish area...
- #17,929
- Jan 6, 2009 10:18am Jan 6, 2009 10:18am
yes certainly, may be a nice confirmation of a breakout from the accumulated historical highs here around 0.71ish region.
the trends look nice and strong for 2009, let's just hope they stay up like this
Just regarding the AUDUSD - i am interested that you see this as a buying opportunity? Have been reading more about divergence recently and from what i can see on my chart it looks like momentum is waning and with the price at a weekly PPZ I would have thought it might present a short?
what do you think? am i reading the divergence correctly?
cheers
Simon
can't seem to draw the line on the MACD - but you can see where it would go parallel to the price
- #17,930
- Jan 6, 2009 10:23am Jan 6, 2009 10:23am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #17,931
- Jan 6, 2009 10:26am Jan 6, 2009 10:26am
- | Joined Jan 2008 | Status: Eating is fun! | 25 Posts
Price has gone exactly where expected. Went through my TP1 (1.3502) by 1 pip before retracing. Rest of the trade is now at BE with final TP2 set at 1.3546. Gotta love PA
History will be kind to me, for I intend to write it - Winston Churchill
- #17,933
- Jan 6, 2009 10:54am Jan 6, 2009 10:54am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Interesting.... check my charts....lol
NP..
- #17,934
- Jan 6, 2009 11:24am Jan 6, 2009 11:24am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Off course, there is absolutely no reason we should not hit that TP1 now. We have cleared Dec21 weekly bar... . It's just a matter of time. Would I be entering now? Probably not..
You say you wouldn't be entering now, is that because it has moved so much with little retrace? If price has a shot at the 1.92 level, we are talking almost 2500 pips from where we are now. For me, I'd risk a few hundred pips for a few thousand. I'll keep watching the charts and see if there is pull back and with some PA signals long. Unless there is a blaring reason not to, or I'm making an obvious mistake, anyone please feel free to comment. Here to learn and grow.
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #17,935
- Jan 6, 2009 11:45am Jan 6, 2009 11:45am
I was just thinking about adding to my position then I read this.
- #17,936
- Jan 6, 2009 12:02pm Jan 6, 2009 12:02pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #17,940
- Jan 6, 2009 12:32pm Jan 6, 2009 12:32pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success