Extracted Thread (per thread starter's request)

ok.

I'm watching this pattern of repeated penetrations of the Yellow UTL that either reach the white one or close to it and are then followed by severe retracements. Note that each of those wick tops coincided with a strong Hzl S/R level as well.

The Point is that they are all descending, and I'd bet that if one went back to the thread posts for those days, "breakout" would be a common term to find used... Except, there's been no breakout yet.

I'm still a little conflicted about the direction for this pair. I'm not going to worry about it, but just keep trading it, and for me right now, that primarily means selling the tops on an intraday basis, and keeping track of the UTL hits and PA ar'd those levels, watching for any impending signs of committment North.

I'm comfortable doing that. I get bit now and then from premature entries, but usually those losses are small due to tight SL's... something you can do when price is at a tipping point. The flip side is when I catch the wind just right, it can be good pips. Two separate entries today yielded 100 and 106 pips each.

We closed today just above the red TL which is a very tight and conservative one. Another day of this range and it will get erased as price trades sideways thru it and it loses any remaining validity.

The 11sma value is currently 2645, about 40 pips below the Close, but only becuz price retraced up just in time after the PM selloff to 2610.

Asia is looking like a non event tonite. I'll take advantage of the fact to try to catch up on some project posts.

Just another touch of the pitchfork channel or will it break out this time?

actually glued to the weekly pivot.

Last bull move was good for about 80 +pips after THV confirmation but sticking in the mid channel.

I already posted this on the other thread but here we be.

http://i41.tinypic.com/30rr8rq

My entry is at 1.2827.

I don't really like where the stoch is on that indicator as I find it a bit overbought to get in. But the weekly may work out in my favor as the stoch shows the pair being nearly oversold.

The downside is that I may be getting in too early (if I do) so I'll have to be careful, have a tight stop loss and as always, have my hat nicely secured on my head.

EU trade closed. For instructional purposes.....I entered short on first leg up shown in yellow (failed initial short trade and so spaced add-on components on the pullback up). MT4 chose to upgrade and crashed my system (guess I have an indy that the upgrade hated), so completely missed the exit on seg back down shown in yellow. By the time I was back on the air, we were into next yellow up leg.....I waited patiently. Current leg down provided exit. No, by this time I am not holding on for more!

The lesson here is 1) big swings always (given enough time), trending or ranging market, and 2) do not ever OVER LEVERAGE account. You need to be able to have each and every component of such a trade be as much as several hundred pips down without causing broker to liquidate your position on you.

First grouping EJ trade closed, too. Same story as above.

Closed half of final grouping trade, also on EJ.

A H&S give you always 2 possible targets.

One has already been reached

I don't trade euro very often, but price rose straight up to my time line for a perfect short set up. Looking for at least 1.2700. Wouldn't complain about 1.2600 either.

Well guys,
even if it is still premature, I submit to you a thought about USDCHF, which as you all know, has a close relationship with EURUSD.
But I dont think it is wrong to think about it now, it is for my type of operation the right time, because it allows me to enter the market with a small stoploss .
In particular I am referring to the possible formation of a H & S, though here we can climb.
The targets are shown in the chart. My entry will be between 1.1523 and 1.1560.

If this figure is coming out the 1.target would be 1.1782 while the 2.target is 1.1923

Just got back home and backreading... I always enjoy watching how other people see the same thing I'm looking at.

There's only 3 possible outcomes... "Huh?", "He's right", and "He's nuts".

I remain fascinated by JR's references to how "time" enters into things. ScottyB tries to apply that into his fib studies and as I am a confirmed Fibaholic, I'm always intrigued with his results.

Well, here's a quick update to the Daily I posted yesterday at the Close... biggest difference besides price continuing to crowd the UTL is I added the 34sma in orange. Just to keep things in perspective.

In short, I'm looking for a massive failure here, but am prepared for a serious breach of Resistance.

Remember what Bemac said... "Don't fall overboard."

Trader seems to be tearing the EJ up, I've found as well as I did with it in the trend, it exceeded my ability to keep up with it in the consolidation and range action. That combined with heineous borker policies on that pair convinced me to Give It Up. So chops to them that Can...

Driver.. I don't quite get your charts, but I follow your thinking with great interest so don't hold back thinking "noone gets it" cuz you never know.

What I enjoy most about this thread so far is we can hang something out in the breeze and see if it dries or not.

OK, got to manage some shorts here for awhile as they turn green, off the UTL zone. I've had some great entries get stopped out for +1-3 pips. The rentries make the borker happy I know, but better to give them the spread and keep a couple for me, than give them the SL for 10-15.

Eventually I get the timing right and I'm in the green and pulling away... Or re-evaluate and realize I'm standing in Front of Something.

Currently short 28oo and an addon at 2780, price at 2766 w/ Obama speaking.

This 2hr candle closes in 8 minutes...((11pm CST)) and may set the course for the day.

The flip side is if that buying pressure does not diminish, then I'd get out of it's way..

These tweezer tops sometimes do strange things at a TL like this ((the larger pictureUTK on the 4hr chart and daily)). It goes beyond what a Book says a candle means and gets more into what The Market is Going To Do... have a care.

8 hr candle just closed at 11am CST... you can see a clue here.

I'm out of all shorts w/ no losses, and will stand aside today and watch the probable turning of the tide... today may be the one we circle on our calendars.

40 pip Bull spike in 3m just took out all my shorts... It may have a been a massive stop clearing above the figure before a large drop, but I'm not willing to play at this level.

Here's a 12 hr. Current candle Open was at 7am CST, Close tonite a'rd the Asian Open.

I'm looking at the convergence of todays Pivots with the higher fib extensions on my current swing. I usually take the high before the last one on longer TF's like this, and if the extensions from that fib hold true, then I have me a good workin fib.

You can see from the 2820/123% ext tap that it's working pretty good..

This will be a massive breach or a massive failure imo. For the record, at this point, I'm looking up with a teaser long from 2768, with a mid 40's stop.

Took profits on the initial entries. 14 and 2. Re-adjusted the square and price peaked on a time time for another short.

Do you not understand my chart ??...

Strange.....
Yesterday you said to be more devious than I !!...

I don't "quite" always get your charts... But I always get what you say.

Hey right now, I'm not getting my own charts very well either, so No Worries...

Over the last 6Hrs or so we have seen a 1/2 dozen attempts @ recent highs. 'Food for the Bears' {actually, I believe, scraps.}
If the Bulls win this Battle, I hope your Shorts are deep in the pocket.{ } You may have to wait until Next Week for a similar opportunity to exit.

If you can't beat down the Castle Gate, then send more Troops.

In my experience, if the Enemy at the Gate is a Hoard, expect No Quarter IF they breach.


Simply put... I think, if the Bulls take this one, it will race another ~ 200 P higher & that may just be the Start.

Swimming with Sharks offers gleaning some meat.
Teriffic IF You are Not The Meat.
Rush to beat the PA. Post Now Explain Later.
{I wish I could use more than 4 fingers to type. }


15M: Bullish but poss fading.
30M: Bullish with still some room above.
1Hr: Bullish with still some room above.
2Hr: Bullish with still some room above.
4Hr: Bullish with lots of room above.
Daylie: Showing strong signs that a Bottom is nearby. {May already have been posted.}
Weekly: Already hit the brakes. Will it continue South? I don't know. Tfore, Minimum Lots with a SL Soooo tight the Skoots couldn't get past.
Monthly: Critical @ ~1.32

Well that lasted all of a bar. back to guppy.

Hello guys. I shorted at the top of both channels with a tight stop. If it breaks and decided to go against me i will reverse my position.

Hey Belekas, good to see drop in. Don't be a stranger...

BTW, I have a small long from 2804... this is almost a coin toss at this point. I have nearly equal reasons to go either way... what a weird day.

It will all boil down to trade management in the end I think, until things clear up. Well off to dinner.