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  • #76,021
  • Mar 16, 2009 1:45pm Mar 16, 2009 1:45pm
Quoting Bling
Also this is what i see i have a buy in @ 2980 to take me up to 3050 ish then a nice short in to the low 29,s to be determined yet what do you think of the channel that i have drawn and my assessment......... Well i cant get my chart to load I have FXCM and i dont know how to load it it keeps saying invalid format can you help with this
Likely a MetaTrader Chart try

http://www.alpari.co.uk/en/open_demo_account.html

That 1, just keep "Opening a Account" and requesting Demo's
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #76,022
  • Mar 16, 2009 1:48pm Mar 16, 2009 1:48pm
Quoting Scotty B
This pair sure knows how to make a guy sweat. When a good level of support or resistance is breached with violent movement, many times a pin bar will form. That is what I am expecting from the daily. The 23.6 has currently pulled down price to it's level, and I think price will lollygag at this level for the next several hours. We could very well see tomorrow do the same thing and we'll have two rejection bars on the daily. The market needs to gather enough longs though to fund the next wave down first though.

you do realize that its forming another bull flag at the moment right ?
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,023
  • Mar 16, 2009 1:53pm Mar 16, 2009 1:53pm
Quoting djambazov84
you do realize that its forming another bull flag at the moment right ?
I don't think we will see price be able to establish itself above 1.2989 on the higher tfs today. If wee see a bull run we will see another rejection.
  • #76,024
  • Mar 16, 2009 1:57pm Mar 16, 2009 1:57pm
Quoting Scotty B
I don't think we will see price be able to establish itself above 1.2989 on the higher tfs today. If wee see a bull run we will see another rejection.
oh pardon me I did not mean another bull run today as price already reached the offers area for the day but with regards to the potential outcome tomorrow so far it is forming a bull flag which could bounce off of previous resistance turned into support which happens to be 1.2950.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,025
  • Mar 16, 2009 2:01pm Mar 16, 2009 2:01pm
All I know is it has gotten pretty tight. .2980 is holding up.
  • #76,026
  • Mar 16, 2009 2:05pm Mar 16, 2009 2:05pm
Quoting djambazov84
oh pardon me I did not mean another bull run today as price already reached the offers area for the day but with regards to the potential outcome tomorrow so far it is forming a bull flag which could bounce off of previous resistance turned into support which happens to be 1.2950.
Here is what I'm looking at
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  • #76,027
  • Mar 16, 2009 2:09pm Mar 16, 2009 2:09pm
Quoting Scotty B
Here is what I'm looking at
that no fly zone is hilarious. i suggest keeping on open mind though...i personally thought we would never pass 1.3000 by 71 pips...clearly a move to deter the senses of long term bears like myself. until we break the first strong support created in this uptrend (and at this moment it is the previous strong resistance at around 1.2930) followed by 1.2865...bulls will remain in control. Of course..we both like to be ahead of the move so this suggestion is useless...but yeah..im sure you know what stop loss is haha
Different opinions highly valued, ignorant to slander.
  • #76,028
  • Mar 16, 2009 2:11pm Mar 16, 2009 2:11pm
Quoting psiholog
im sure you know what stop loss is haha
We have a love hate relationship.
  • #76,029
  • Mar 16, 2009 2:12pm Mar 16, 2009 2:12pm
Quoting Scotty B
This pair sure knows how to make a guy sweat. When a good level of support or resistance is breached with violent movement, many times a pin bar will form. That is what I am expecting from the daily. The 23.6 has currently pulled down price to it's level, and I think price will lollygag at this level for the next several hours. We could very well see tomorrow do the same thing and we'll have two rejection bars on the daily. The market needs to gather enough longs though to fund the next wave down first though.
we will c.. cost averaging and has saved me... im waiting for next spike to enter some more shorts..
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those who can, do. those who cant, talk about those who can
  • #76,030
  • Mar 16, 2009 2:13pm Mar 16, 2009 2:13pm
This is what im looking at first does any one agree with the channels that i have drawn on the Eur 60m chart also the support at 2980. I think a bounce off 2980 will happen seeing schoolastics is under 20 to bounce off near 3040 and take a Short down to the low 2920s maybe... does anyone agree with this assessment or have constructive critisizm to change my oponion and make me better.......
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  • #76,031
  • Mar 16, 2009 2:15pm Mar 16, 2009 2:15pm
this is my point of view
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,032
  • Mar 16, 2009 2:18pm Mar 16, 2009 2:18pm
Quoting djambazov84
this is my point of view
I see your chart but dont see what you are trying to say with it i need words.... also why did you draw the lines where you did and what other influences helped you decide your direction
  • #76,033
  • Mar 16, 2009 2:20pm Mar 16, 2009 2:20pm
no bear flag until it break up the "now" we have break down and a very bearish 4hrs candle
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #76,034
  • Mar 16, 2009 2:20pm Mar 16, 2009 2:20pm
80 is broken if it goes hard then we can see lows of 1.29. Last hour was great for scalping.
  • #76,035
  • Mar 16, 2009 2:21pm Mar 16, 2009 2:21pm
EUR-USD prices broke above Friday's high, only to test the channel highs (see HOURLY Chart).

It could stay range bound till market close today as there are no fundaments to move the market. (See 30 min Chart).

If EUR-USD will fall we will find support in the 1.2956 - 1.2867 area which was a formidable resistance on Friday.
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  • #76,036
  • Mar 16, 2009 2:22pm Mar 16, 2009 2:22pm
Quoting gatorinla
we will c.. cost averaging and has saved me... im waiting for next spike to enter some more shorts..
I like your charts bro...It's easy to get caught up in the short term..Like I've said all along though, this crazy thing can do whatever it pleases. Just look back to that move a couple months ago, two thousand pips in two weeks..Yikes! With that crazy move in mind though, the really big picture has already retraced. She'll move down soon enough though..The dow is forming a nice rejection bar on the daily as we speak..Asia should be interesting...They seem to enjoy giving their lunch money to the London bullies. The longs always go out with a nice bang..Just watch, they'll try to run it up again..Just look out for those horns.
  • #76,037
  • Mar 16, 2009 2:23pm Mar 16, 2009 2:23pm
Quoting Bling
I see your chart but dont see what you are trying to say with it i need words.... also why did you draw the lines where you did and what other influences helped you decide your direction
i apologize for that
basically the extended line is simply the flag's pole projection should my scenario play out...meaning if price respects the former resistance @ 1.2950 and bounces off of it then we might have a valid confirmation of the bullish flag. 1.2950 is also a high probability entry as it sits on the 50 fib retracement of the main move for the day. yesterday price retraced to the 50 fib retracement of the prior upmove.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #76,038
  • Mar 16, 2009 2:26pm Mar 16, 2009 2:26pm
Quoting vulture
no bear flag until it break up the "now" we have break down and a very bearish 4hrs candle
break down
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"Simplicity is the ultimate sophistication" leonardo da vinci
  • #76,039
  • Mar 16, 2009 2:28pm Mar 16, 2009 2:28pm
Quoting psiholog
Attachment
nice chart but how would i trade it as im sure at least one person out there is curious. my entry was off that initial M formation. I regret being asleep when the upper trendline was rejected as that would have made the ideal entry (belekas showed it). In any case..since i entered I have taken 50pips on half my current position and the other has take profit 1000 pips lower (yes you heard me right). Still...i have stop loss at entry for this last half and dont care what happens as im a scalper most of the time. This is my first true attempt at holding a position long term. In case i do get stopped out..no worries...ill just reenter with another full position at the appropiate time and attempt the same exact thing i am doing now. This trade has become a set and forget and future entries are my regular scalp/intraday trades (with one more long term trade experiment to come if stopped out).

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Different opinions highly valued, ignorant to slander.
  • #76,040
  • Mar 16, 2009 2:29pm Mar 16, 2009 2:29pm
I think euro will go down )))
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