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  • #58,181
  • Jan 22, 2009 4:24am Jan 22, 2009 4:24am
Quoting wiKKid
Can one still call it an uptrend?
Euro Bulls surely can, but I believe that the Bull Flag they keep look at on the Daily chart has retraced too much of the up move to be considered a Bull Flag.

JMHO
  • #58,182
  • Jan 22, 2009 4:25am Jan 22, 2009 4:25am
suprisingly enough to me... what I use to define the trend on h1 is long... in fact... just went full long on this last candle.... I"m not exactly crazy about taking longs right now though...

setup better be doggone good to get me in long
Quoting wiKKid
Can one still call it an uptrend?
DireXiv Make it happen, no one else is going to do it for you...
  • #58,183
  • Jan 22, 2009 4:33am Jan 22, 2009 4:33am
Hey all.

Just wanted to contribute.

What I am looking for is a drop from 3080ish in the next hour or so and then down to around 2650-2450 (continuing channel from 29 dec.) Then find support from the lows of October to finally retrace up to 3600ish.

Does this sound reasonable to anyone?

I don't really know if this logic holds since I had no clue of what currency-trading was in november 08 when I started forex-trading

Cheers
  • #58,184
  • Jan 22, 2009 4:35am Jan 22, 2009 4:35am
Quoting DireXiv
suprisingly enough to me... what I use to define the trend on h1 is long... in fact... just went full long on this last candle.... I"m not exactly crazy about taking longs right now though...

setup better be doggone good to get me in long
Interesting. What made you think that it was a long signal? Was it the crossing of 21 from under 50 EMA or something else?
  • #58,185
  • Jan 22, 2009 4:38am Jan 22, 2009 4:38am
London session has a nice run upwards, almost hit 1.3100 again. Market is in a tight range at the moment. Looking at it now:

  1. Hourly Momentum is down
  2. 1.3100 looks to be a strong s/r level

At this pace, the range may continue, hitting 1.2000 to 1.3100, all over again. Because of this range, I will continue to trade the 5 min chart

  • #58,186
  • Jan 22, 2009 4:38am Jan 22, 2009 4:38am
On D1 there is nice bullish engulfing pattern, and also EU is going to the end of the wedge...
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  • #58,187
  • Jan 22, 2009 4:38am Jan 22, 2009 4:38am
Quoting DireXiv
suprisingly enough to me... what I use to define the trend on h1 is long... in fact... just went full long on this last candle.... I"m not exactly crazy about taking longs right now though...

setup better be doggone good to get me in long
So how is what you've just seen "doggone good" ??

1H has double topped to me - both tops are hammers ...
  • #58,188
  • Jan 22, 2009 4:39am Jan 22, 2009 4:39am
Ranging up and down so tight...Staying out is the best trade position for now...

Sonic
  • #58,189
  • Jan 22, 2009 4:40am Jan 22, 2009 4:40am
Am i wrong in saying this is a doublbe top on the 1h ?
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  • #58,190
  • Jan 22, 2009 4:40am Jan 22, 2009 4:40am
First indication was the 7ema cross of the 50 ema.. usually good for 50-100 pips or more on a quick pop on pullback to the 7/21/50 area... worked well for me last night... yes... second indication was teh 21 cross of the 50.. but that one can need wider stops and higher tps.. so I usually just start taking lower tf setups at that point.

We also just broke out of the ichi cloud..

Quoting sailor6
Interesting. What made you think that it was a long signal? Was it the crossing of 21 from under 50 EMA or something else?
DireXiv Make it happen, no one else is going to do it for you...
  • #58,191
  • Jan 22, 2009 4:41am Jan 22, 2009 4:41am
LOL.. just pa on m15 or m5 is what i'd look for.. I'm not expecting it.. because your right.. seems like a double top... as stated... I'm not exactly excited for longs... much rather see it turn back down.

3050 area isn't exactly inviting longs either.

Quoting pipmyride
So how is what you've just seen "doggone good" ??

1H has double topped to me - both tops are hammers ...
DireXiv Make it happen, no one else is going to do it for you...
  • #58,192
  • Jan 22, 2009 4:42am Jan 22, 2009 4:42am
Hi Man

U consider a double top on 1.3085,,,may be U R right, but I see further upside to 1.3160 - 1.3180 area before going down again,,,If you check the 4H shart well U will find that it may return up again from 1.2965 , I will go short if a 4 H close down 1.2965 , and will add to my short on 1.279X Or if it will go up as I expect,,,,I will short it from 1.3160


What is your openion Guys?



Quoting Fesken
Hey all.

Just wanted to contribute.

What I am looking for is a drop from 3080ish in the next hour or so and then down to around 2650-2450 (continuing channel from 29 dec.) Then find support from the lows of October to finally retrace up to 3600ish.

Does this sound reasonable to anyone?

I don't really know if this logic holds since I had no clue of what currency-trading was in november 08 when I started forex-trading

Cheers
  • #58,193
  • Jan 22, 2009 4:44am Jan 22, 2009 4:44am
Quoting ma_cowburn
Am i wrong in saying this is a doublbe top on the 1h ?
You got it
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  • #58,194
  • Jan 22, 2009 4:47am Jan 22, 2009 4:47am
Quoting mohfaid
Hi Man

U consider a double top on 1.3085,,,may be U R right, but I see further upside to 1.3160 - 1.3180 area before going down again,,,If you check the 4H shart well U will find that it may return up again from 1.2965 , I will go short if a 4 H close down 1.2965 , and will add to my short on 1.279X Or if it will go up as I expect,,,,I will short it from 1.3160


What is your openion Guys?
Well yes and no. I suggest that PA will touch 3080-3100 now after beeing down on 3010. so there will be an head 'n shoulderish/double top pattern that people will react on, and it is just on the top of the channnel since 29 Dec.

I have traded channels on 5min for maybe 5 days in a row now successfully with 36/8 wins/losses and +795pips. (on demo tho) So why would things change today?
  • #58,195
  • Jan 22, 2009 4:54am Jan 22, 2009 4:54am
Quoting DireXiv
LOL.. just pa on m15 or m5 is what i'd look for.. I'm not expecting it.. because your right.. seems like a double top... as stated... I'm not exactly excited for longs... much rather see it turn back down.

3050 area isn't exactly inviting longs either.
fair enough .. still quite rangy so wouldnt be shorting either on the conservative side ... would do if i was aggressive scalping tho ...
  • #58,196
  • Jan 22, 2009 4:54am Jan 22, 2009 4:54am
The Real Test for this Double Top and Head and Shoulder,,,is the break of 1.2965,,,May be I will enter Lately but with more confedence

Right ?



Quoting Fesken
Well yes and no. I suggest that PA will touch 3080-3100 now after beeing down on 3010. so there will be an head 'n shoulderish/double top pattern that people will react on, and it is just on the top of the channnel since 29 Dec.

I have traded channels on 5min for maybe 5 days in a row now successfully with 36/8 wins/losses and +795pips. (on demo tho) So why would things change today?
  • #58,197
  • Jan 22, 2009 4:54am Jan 22, 2009 4:54am
Quoting DireXiv
First indication was the 7ema cross of the 50 ema.. usually good for 50-100 pips or more on a quick pop on pullback to the 7/21/50 area... worked well for me last night... yes... second indication was teh 21 cross of the 50.. but that one can need wider stops and higher tps.. so I usually just start taking lower tf setups at that point.

We also just broke out of the ichi cloud..
Same here. Been working the 10ema cross on the 50 ema, 5 min chart, banking profits (a least 50+ pip moves) since yesterday.

Pink Line = 50 ema
Grey Line = 10 ema
5 Min Mono Strategy
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  • #58,198
  • Edited 6:38am Jan 22, 2009 5:06am | Edited 6:38am
scalping setup


this is for demo trading only
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  • #58,199
  • Jan 22, 2009 5:15am Jan 22, 2009 5:15am
i m still making short from beginning of to day...
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newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #58,200
  • Jan 22, 2009 5:23am Jan 22, 2009 5:23am
Quoting Pirin
You got it
LOL, i love your work
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