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  • #501
  • Mar 16, 2009 11:10am Mar 16, 2009 11:10am
Quoting strat
Remember Dr. Joe - "it keeps on going up till it stops going up".

Rock n Roll,
Strat
yeah... i guess i'll stop there for a while, as E/J resistance is currently being tested and not sure where it want to go... i'm back to wait and see mode

+385 pips in the bag
There's a POT of GOLD at the END of the RAINBOW!!
  • #502
  • Mar 16, 2009 12:11pm Mar 16, 2009 12:11pm
DHLC off PPZ forming on Daily USD/CHF (GMT).

Potential short down to 61 Fib level at 1.1550, which is also a PPZ (confluence), with stop at 1.1980.

What's wrong with this? It's using the Sunday bar as half of the DHLC. In two minds about this...
Attached Image (click to enlarge)
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  • #503
  • Mar 16, 2009 1:21pm Mar 16, 2009 1:21pm
Good call on the DBHLC, I didn't see it until you mentioned it. I think it's fine using the sunday bar. Entry short would be below 1.1800, which is support. I put 1.1700ish area on the chart because it is a psycho and pretty big support. It also lines up with the 20 and the 50% retracement, making for a nice convergence of support. This would be a good target if you took the trade.

http://img262.imageshack.us/img262/3938/usdchfr.gif
Bang.
  • #504
  • Mar 16, 2009 3:13pm Mar 16, 2009 3:13pm
I will attempt to go cold turkey and then perhaps join lurkers anonymous!

I enjoy your insights and your humor. This thread has been able to maintain an open and focused feel. Kudos to you. I will read all the posts and then share my thoughts in the coming days.

Cheers

Pros
  • #505
  • Mar 16, 2009 4:07pm Mar 16, 2009 4:07pm
Thinking of long for the following reasons

Last Thursday's spinning top showed indecision

Friday and yesterday showed more selling than buying pressure but still ended up equal with the bulls. Also declining volume.

20 crossed 50 and price is above 20

Any thoughts?
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  • #506
  • Mar 16, 2009 4:10pm Mar 16, 2009 4:10pm
Quoting AstonDan
DHLC off PPZ forming on Daily USD/CHF (GMT).

Potential short down to 61 Fib level at 1.1550, which is also a PPZ (confluence), with stop at 1.1980.

What's wrong with this? It's using the Sunday bar as half of the DHLC. In two minds about this...
Attachment
Hello Strat hope you dont mind me jumping in here.
AstonDan be of One mind and forget Sunday bars.
There is a weekly bullish outside bar and futures to be bought tomorrow I am watching for a pullback to the 20/25 ema on the 4hr to MAYBE get on board.
GOD IS NOT SHORT OF CASH
  • #507
  • Mar 16, 2009 4:14pm Mar 16, 2009 4:14pm
im with swami on that lads....the weekly has a buob from the land of the giants

Euro/Gbp....need a little price action to go with your other observation i suppose is what i think anyway
  • #508
  • Mar 16, 2009 4:17pm Mar 16, 2009 4:17pm
i will consider gj short when price falls below 137.47 only short term. medium term im still seeing gj tf H4 sitting nicely at the support area (buy zone). that is what im seeing at moment in time
  • #509
  • Edited 5:18pm Mar 16, 2009 4:40pm | Edited 5:18pm
EURJPY - don't get caught with yesterday's candle - it is NOT a shooting star plus bullish momentum is still cranking away

EURUSD - NOT a shooting star but a bearish candle nevertheless. Went looking for buyers - hit major resistance at 1.3075 and told to "go away", then it ran when it saw the BOSS 20 looking down at him! Looks like we may get another re-test of support before another attempt

GBPCHF- Very weak shooting star rejected by major resistance at 1.6850

GBPJPY - Exactly as EURUSD but with different levels

GBPUSD - Not a good shooting star but still bearish. Rejected by major resistance at 1.4220 AND the 50. Closed below the 20. Say"goodbye" Gordon.

USDCAD - Not a hammer but still bullish. Had a look down below but nobody would sell below 1.2620 so came back and decided to have a rest on psycho 1.2700

USDCHF - As told by others - Her BOSS has made her intentions clear - so look for places to go long

USDJPY - Very undecided - If it means anything my Momentum stuff is still on a bullish grind - but price is telling us NOTHING - don't be fooled looking for shorts until everything sets up. BOJ may not have finished yet

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #510
  • Mar 16, 2009 4:42pm Mar 16, 2009 4:42pm
For EUR/GBP price action couldn't this last candle be a hammer or pin bar. I think his trade had some sound technicals.
Bang.
  • #511
  • Mar 16, 2009 5:10pm Mar 16, 2009 5:10pm
[quote=hansnl;2606557]
Quoting strat


Done! but it still big in your post?
Yes because it is using YOUR chart and now I can't get in to edit it

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #512
  • Mar 16, 2009 5:15pm Mar 16, 2009 5:15pm
Quoting reddog19
Thinking of long for the following reasons

Last Thursday's spinning top showed indecision

Friday and yesterday showed more selling than buying pressure but still ended up equal with the bulls. Also declining volume.

20 crossed 50 and price is above 20

Any thoughts?
Everything is bullish so look for good entry

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #513
  • Mar 16, 2009 5:21pm Mar 16, 2009 5:21pm
Quoting AminAS
For EUR/GBP price action couldn't this last candle be a hammer or pin bar. I think his trade had some sound technicals.
Nowhere close to a hammer on my data but still a bullish set up.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #514
  • Mar 16, 2009 5:24pm Mar 16, 2009 5:24pm
Quoting Swami S
Hello Strat hope you dont mind me jumping in here.
AstonDan be of One mind and forget Sunday bars.
There is a weekly bullish outside bar and futures to be bought tomorrow I am watching for a pullback to the 20/25 ema on the 4hr to MAYBE get on board.
I don't mind at all, magic man, in fact I THANK YOU for coming here and sharing your views.

Feel free to stay - we are building a nice team of sensible, QUALITY traders here.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #515
  • Mar 16, 2009 5:29pm Mar 16, 2009 5:29pm
Quoting timetrader
i will consider gj short when price falls below 137.47 only short term. medium term im still seeing gj tf H4 sitting nicely at the support area (buy zone). that is what im seeing at moment in time
Yes, bearish now. I'm confused - are you trading the Daily or H4? If you are trading the Daily, why worry what H4 is doing? It is the BOSS you should watch. H4 will do what it's boss (Daily) tells it to do.

Rock n Roll,
Strat
15 YEARS OF PASR ON FOREX FACTORY!
  • #516
  • Mar 16, 2009 5:41pm Mar 16, 2009 5:41pm
I know nothing about the technicals im afraid....sounds great but i imagine without a good bit of price action its all smoke and mirrors.
Thats not a pin in anyway really...well not for me or Strat i presume and def not james 16.
Theres some good links on this thread to aid the price bar recognition process.
Im really not a know it all its just i learnt the hard way,dont want others to do the same...........G
  • #517
  • Mar 16, 2009 5:56pm Mar 16, 2009 5:56pm
Back On Trade...

G/J Long @ 138.20, SL=200
There's a POT of GOLD at the END of the RAINBOW!!
  • #518
  • Mar 16, 2009 5:59pm Mar 16, 2009 5:59pm
Thanks G and Strat. So that last candle wasn't anything special, got it. If it is still a bullish setup, could we treat that last candle as a hammer and enter 10 pips above long with a stop below?
Bang.
  • #519
  • Mar 16, 2009 6:41pm Mar 16, 2009 6:41pm
Quoting strat

So, since no-one came even close to this, tells me you are all acting like rank amateurs.

So what are you going to do with this new found information?


Rock n Roll,
Strat
Until we learn how you are drawing S/R lines, nothing. No one came even close to the solution, because I believe no one saw 97.52 and 96.20 support levels on the chart.

Thanks for your time and insight in this thread.
Regards
  • #520
  • Mar 16, 2009 7:11pm Mar 16, 2009 7:11pm
Quote
Originally posted by Strat -
Nowhere close to a hammer on my data but still a bullish set up.

I refered back to a candle pattern website and realized that a hammer has little or no upper wick. The candle we were looking at must have been a long shadow.
Bang.
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