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  • #69,641
  • Feb 26, 2009 10:31pm Feb 26, 2009 10:31pm
Quoting traderathome
EurUsd Daily chart shows Bulllish Divergence = Trend Reversal.

See chart attached.

See pictoral of the 4 kinds of divergence: http://www.forexfactory.com/attachme...5&d=1228757312
Hey trader, I noticed on your chart that every time the green crossed over the red in a downward pattern it was a short signal and vice versa. Any word on that in relation to the position it's in right now?
  • #69,642
  • Feb 26, 2009 10:31pm Feb 26, 2009 10:31pm
Quoting traderathome
EurUsd Daily chart shows Bulllish Divergence = Trend Reversal.

...
Personally, I can see no reason for you to be wrong.
Question is...

When? It's been like that for a while already.
  • #69,643
  • Feb 26, 2009 10:33pm Feb 26, 2009 10:33pm
Quoting BoredToLoose
Yes.

Entered at 2715 and will be exiting soon.

Oh Bemac! Jenny says hi. How she got to know you is beyond me
Not all sins are created equal
  • #69,644
  • Edited 10:39pm Feb 26, 2009 10:36pm | Edited 10:39pm
Quoting Bemac
Personally, I can see no reason for you to be wrong.
Question is...

When? It's been like that for a while already.

Depends on the size of the Stop Loss, huh!?

The problem is without any direction on the markets (specially DJI and S&P) even having a long position as i have now, i'm not willing to let it go for long, i'll just keep going with the flow, but always ready to change directions...

Everyone is waiting for THE bottom, but also everyone knows it isn't coming in the next 4-6 weeks, but we have to keep going....

Oh, and the size of the wicks DO matter
Traders are smartasses
  • #69,645
  • Feb 26, 2009 10:40pm Feb 26, 2009 10:40pm
Quoting hemantaims
Hello everyone

I am new to forex. What does the triangle on this 4h chart of eur/usd mean?

Any interpretations or insights on this chart?
I agree with Spsantos, it's not exactly how you draw the lower line. Check this thread, it has some good info on drawing TL's: http://www.forexfactory.com/showthread.php?t=69882

IMHO it's just a triangle (indecision between buyers and sellers), and could break either way.

Some may see it as a descending triangle, others may see it as a bullish pennant.
  • #69,646
  • Feb 26, 2009 10:42pm Feb 26, 2009 10:42pm
Quoting hemantaims
Thanks for reply

As i am new to this market, i don't know how to trace trendline/support properly. It would be great if you could tell me what does this triangle mean? its a sign of breakout to lower sides... so should i go short this pair?

Really dont understand how to trade this.. any insights on this would be helpful.
Typically a decending triangle breaks lower, however the closer the market gets to the point of the triangle without breaking the more likely it can break either way.

I think most folks agree the market's not forming a decending triangle though, it's a symmetrical triangle, meaning the market can break either way. The closer to the point the more explosive the breakout typically.

As with any breakout strategy though it you have to wait for the market to actually breakout before entering the market. And you have to allow for false breakouts, meaning ensure you have proper stops in place etc.

Note my style of trading is non-predictive, meaning I try to determine what the markets doing and just ride along rather than try to guess where it may go. Good luck.
"The markets are the greatest chess match ever played."
  • #69,647
  • Feb 26, 2009 10:48pm Feb 26, 2009 10:48pm
Quoting Bemac
I think That's a question better diricted to Jenny.


Hum!! 1.2735 hit!!

until now 5 Pips above my border line!!
PA is doing his JOB!!
  • #69,648
  • Feb 26, 2009 10:50pm Feb 26, 2009 10:50pm
PA ALWAYS does its job, that's a given
Traders are smartasses
  • #69,649
  • Feb 26, 2009 11:01pm Feb 26, 2009 11:01pm
Quoting hemantaims
Hello everyone

I am new to forex. What does the triangle on this 4h chart of eur/usd mean?

Any interpretations or insights on this chart?
http://www.babypips.com/school/pattern_schmatterns.html
  • #69,650
  • Feb 26, 2009 11:24pm Feb 26, 2009 11:24pm
It seems as if the EUR doesn't want to make a move today. My trading plan only allows me to enter trades with a very high probability, this is not happening so far.
That it is Friday doesn't help either, here down under we will go to the pub soon and thats it.
At least I managed to get my target in pips per week.

All the very best trading it was a pleasure trading this week.
Let the market do what it wants, as long as I can take my share on the way.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #69,651
  • Feb 26, 2009 11:32pm Feb 26, 2009 11:32pm
Yeah TC, it's a flatline.

This could be the chart today.

http://vote08.freedomblogging.com/fi...3/flatline.jpg
Not all sins are created equal
  • #69,652
  • Feb 26, 2009 11:37pm Feb 26, 2009 11:37pm
2746 was exactly the 62% retrace to the pip from the morning high my time
those who can, do. those who cant, talk about those who can
  • #69,653
  • Feb 26, 2009 11:44pm Feb 26, 2009 11:44pm
Quoting gatorinla
2746 was exactly the 62% retrace to the pip from the morning high my time
so are we heading north or south today?
  • #69,654
  • Feb 26, 2009 11:45pm Feb 26, 2009 11:45pm
Quoting Pipster888
so are we heading north or south today?
Look at the chart and use the thing between your ears. Its not so hard...
Trade on your own risk Plan your trade&trade your plan dont be a
  • #69,655
  • Feb 26, 2009 11:46pm Feb 26, 2009 11:46pm
Quoting Pipster888
so are we heading north or south today?
EAST!
Not all sins are created equal
  • #69,656
  • Feb 26, 2009 11:47pm Feb 26, 2009 11:47pm
Quoting Jay Walker
EAST!

!
  • #69,657
  • Feb 26, 2009 11:47pm Feb 26, 2009 11:47pm
Quoting Pipster888
so are we heading north or south today?
should but its friday..S
those who can, do. those who cant, talk about those who can
  • #69,658
  • Feb 26, 2009 11:48pm Feb 26, 2009 11:48pm
  • #69,659
  • Feb 26, 2009 11:50pm Feb 26, 2009 11:50pm
The time stamp says I posted this 36 hours ago, seems like a week. Anyway price on the chart at the time was was 2718. We're now 2 pips higher at 2720. Can we call that a breakout? Please...?

http://www.forexfactory.com/showthre...06#post2564006
FUBAR...
  • #69,660
  • Feb 26, 2009 11:52pm Feb 26, 2009 11:52pm
Quoting ak4x
The time stamp says I posted this 36 hours ago, seems like a week. Anyway price on the chart at the time was was 2718. We're now 2 pips higher at 2720. Can we call that a breakout? Please...?

http://www.forexfactory.com/showthre...06#post2564006
seems like theres little volume..is nobody buying or selling goods or comodities anymore..???
those who can, do. those who cant, talk about those who can
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