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  • #61,001
  • Feb 3, 2009 4:59am Feb 3, 2009 4:59am
Quoting moewenger
ok, then today i bet it must be one of those ranging days. means for me a NO TRADE day.
I love ranging days! They're the second best to trending days
Probability Professor
  • #61,002
  • Feb 3, 2009 5:02am Feb 3, 2009 5:02am
does anyone see it hitting 1.2800??
  • #61,003
  • Feb 3, 2009 5:04am Feb 3, 2009 5:04am
Quoting Galation
I love ranging days! They're the second best to trending days
how?? did you mean this is the best time to trade also or better wait for something to come?? explain..
  • #61,004
  • Feb 3, 2009 5:08am Feb 3, 2009 5:08am
Quoting CAnthonyMVE
does anyone see it hitting 1.2800??
I think there will be a break out, either to the up or down, out of the descending triangle. The US NY session will be opening in a couple of hours: there is likely to be a definitive breakout then.
Probability Professor
  • #61,005
  • Feb 3, 2009 5:11am Feb 3, 2009 5:11am
It has hit three times 1.2807 and 1.2800. So it's time to go up a little bit. Not much. band will be between 1.2800 and 1.2870- 80's maybe.

No trade and watch is the better solution for me

ANY MORE OR DİFFERENT İDEAS FOR NOW OR LATER????

Please share your ideas for people who wanna win little but big money.

Thnx
  • #61,006
  • Feb 3, 2009 5:13am Feb 3, 2009 5:13am
Quoting moewenger
how?? did you mean this is the best time to trade also or better wait for something to come?? explain..
Yeah, i like trading them. I just buy at the bottom and sell at the top and set a smart stop loss.
Probability Professor
  • #61,007
  • Feb 3, 2009 5:17am Feb 3, 2009 5:17am
Quoting Galation
Yeah, i like trading them. I just buy at the bottom and sell at the top and set a smart stop loss.
how did you confirmed that the market has reached their TOP or BOTTOM?? do you see the market need a retest & which TF you do that??

thanks..
  • #61,008
  • Feb 3, 2009 5:36am Feb 3, 2009 5:36am
Quoting moewenger
how did you confirmed that the market has reached their TOP or BOTTOM?? do you see the market need a retest & which TF you do that??

thanks..
One can find tops and bottoms from historical areas of major support and resistance, and daily, weekly and monthly pivot points. I trade mainly on price action, therefore I look at chart patterns and candle stick movement, especially around these support, resistance and pivot point levels.

Obviously you don't know it's in a ranging period until it has bounced off a support and resistance several times+. I mainly trade 4 hour candles, but sometimes 1 hour candles as well. I look at the lower time frames for good entries and exits: and often times see good entry and exits signals from the price action.
Probability Professor
  • #61,009
  • Feb 3, 2009 5:46am Feb 3, 2009 5:46am
Quoting Galation
One can find tops and bottoms from historical areas of major support and resistance, and daily, weekly and monthly pivot points. I trade mainly on price action, therefore I look at chart patterns and candle stick movement, especially around these support, resistance and pivot point levels.

Obviously you don't know it's in a ranging period until it has bounced off a support and resistance several times+. I mainly trade 4 hour candles, but sometimes 1 hour candles as well. I look at the lower time frames for good entries and exits: and often...
Did you know about major s/r levels through manual(drawn like) or looking at some website to know it??

thanks..
  • #61,010
  • Feb 3, 2009 5:48am Feb 3, 2009 5:48am
1.2834 does anyone see a short here
  • #61,011
  • Feb 3, 2009 5:48am Feb 3, 2009 5:48am
Quoting Galation
One can find tops and bottoms from historical areas of major support and resistance, and daily, weekly and monthly pivot points. I trade mainly on price action, therefore I look at chart patterns and candle stick movement, especially around these support, resistance and pivot point levels.

Obviously you don't know it's in a ranging period until it has bounced off a support and resistance several times+. I mainly trade 4 hour candles, but sometimes 1 hour candles as well. I look at the lower time frames for good entries and exits: and often...
I'm also look at 4h chart to look for trends. But I enter also from 4h. How'd you do it differently? I'm curious...

What is your systems called??

Thanks...
  • #61,012
  • Feb 3, 2009 5:51am Feb 3, 2009 5:51am
Quoting CAnthonyMVE
1.2834 does anyone see a short here
I think not yet plus this price means we're at the middle of the ranging mode therefore it can go either way. The best to short is if price reach 1.2905 again.

Just my two cents..
  • #61,013
  • Feb 3, 2009 5:58am Feb 3, 2009 5:58am
Just a thought. GBP/USD is a footprint of EUR/USD
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Forex Price Action Hacked - Price Action Rockstar
  • #61,014
  • Feb 3, 2009 6:02am Feb 3, 2009 6:02am
Quoting moewenger
Did you know about major s/r levels through manual(drawn like) or looking at some website to know it??

thanks..
There are many ways to find out the major support and resistance levels around the current price action.

1. Other websites which: i.e. http://www.fxstreet.com/technical/cu...spx?id=EUR/USD
2. Indicators on your trading or charting software, which can calculate resistance, support and pivot levels automatically.
3. Support, resistance levels and trend lines can be drawn by hand. This can be done by looking at historical areas of S/R, and also learning how to draw trend lines correctly: which comes through experience.

I use option 2 and 3
Probability Professor
  • #61,015
  • Feb 3, 2009 6:02am Feb 3, 2009 6:02am
What do you think about the movement after the gap?

It seems to me as an exhaustion gap.
Also if we extend higher than 1.2925-1.2950 a good movement for the bulls could come.
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  • #61,016
  • Feb 3, 2009 6:02am Feb 3, 2009 6:02am
looks like the US pending home sales is going to be worse than expected.

hence the run up??
  • #61,017
  • Feb 3, 2009 6:32am Feb 3, 2009 6:32am
...possible head and shoulders pattern forming on 30 min chart?...target-yesterday's low
  • #61,018
  • Feb 3, 2009 6:38am Feb 3, 2009 6:38am
divergnce says down, MA support says up and my gut says stay away.

I would prefer longs, but fundamentals ae not offering much support.

COnflicting and confusing.
  • #61,019
  • Feb 3, 2009 6:45am Feb 3, 2009 6:45am
I think there will be a support around 1.2858, then we will test 1.2899. I believe there is a pretty high probability of the price testing 1.2899 today.
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Probability Professor
  • #61,020
  • Feb 3, 2009 7:02am Feb 3, 2009 7:02am
Quoting Galation
I think there will be a support around 1.2858, then we will test 1.2899. I believe there is a pretty high probability of the price testing 1.2899 today.
Funny you say that, I just entered long at 1.2855

(going to give this one some room, I see support from MA below here, I think dowside risk limted to 1.2830ish
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