Attachments: EURUSD

EURUSD

#76,461
Edited 2:48pm Mar 17, 2009 2:45pm | Edited 2:48pm

arthurb
| Joined Dec 2008 | Status: Austrian school | 501 Posts

Quoting ak4x

Disliked

Just curious how the PA experts would have interpreted and/or traded this 1hr Bear candle based on the close... come on now, I'm being serious.

I'll go first altho I'm far from a PA expert by any comparison to the guys who eat and breathe that stuff, and say it looked seriously short to me.

BB settings are 15,2,2 and you can see what's happened the last two times any candle wick tapped the Upper band... serious pullback to the opposite BB on continuing follow thru.

This one gave us a Humungo Bull candle instead and seems to be holding 15 minutes...

Ignored

that's an invalid marked up candle, and a confirmation of the theory , that you have to wait for confirmation before jumping in.

#76,462
Mar 17, 2009 2:45pm Mar 17, 2009 2:45pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting ak4x

Disliked

Just curious how the PA experts would have interpreted and/or traded this 1hr Bear candle based on the close... come on now, I'm being serious........

Ignored

Far from an expert but that bear candle would have been more meaningful to me if it extended above the previous highs. Otherwise I look at it as just a down close bar yet a hl and hh.

#76,463
Mar 17, 2009 2:48pm Mar 17, 2009 2:48pm

lataliano
| Joined Feb 2009 | Status: Trader | 48 Posts

March 17 (Bloomberg) -- The euro may extend gains to a 1- 1/2 month high of $1.3321, based on trading patterns, said Bank of Tokyo-Mitsubishi UFJ Ltd.
The currency’s advance above so-called resistance levels at the five-day moving average of $1.2928 and the 21-day moving average of $1.2724 suggests the euro may be set for an extended gain, said Masashi Hashimoto, a currency analyst in Tokyo for the bank. Other technical indicators such as so-called ichimoku charts signal the euro’s bias has shifted to the “upside,” he said. Resistance is where sell orders may be clustered. An ichimoku chart analyzes the midpoints of historic highs and lows.
“The trend has changed and that means we can probably expect more currency gains,” Hashimoto said. “The euro may approach resistance between $1.3000 and $1.3100,” he said, citing levels including the 90-day moving average of $1.3088.

#76,464
Mar 17, 2009 2:50pm Mar 17, 2009 2:50pm

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,179 Posts

Quoting ak4x

Disliked

Just curious how the PA experts would have interpreted and/or traded this 1hr Bear candle based on the close... come on now, I'm being serious.

I'll go first altho I'm far from a PA expert by any comparison to the guys who eat and breathe that stuff, and say it looked seriously short to me.

BB settings are 15,2,2 and you can see what's happened the last two times any candle wick tapped the Upper band... serious pullback to the opposite BB on continuing follow thru.

This one gave us a Humungo Bull candle instead and seems to be holding 15 minutes...

Ignored

see if this fits your question.. draw a trendline from jan using jan 18 and jan 28... may not mean much but it is respecting that trend line

those who can, do. those who cant, talk about those who can

#76,465
Mar 17, 2009 3:03pm Mar 17, 2009 3:03pm

djambazov84
| Joined Apr 2008 | Status: J16 Turtle | 1,572 Posts

equity markets took their yesterday highs...currencies did not move in tandem....

very weird

Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !

#76,466
Mar 17, 2009 3:05pm Mar 17, 2009 3:05pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

You would think a big Japanese bank would realize that resistance is not where a MA is located but where previous selling took place and/or where longs from above are stuck that will try to get out even given a chance.

#76,467
Mar 17, 2009 3:10pm Mar 17, 2009 3:10pm

ak4x
Joined Aug 2007 | Status: TARFU... | 7,015 Posts

Quoting arthurb

Disliked

..wait for confirmation...

Ignored

Quoting SunTrader

Disliked

would have been more meaningful to me if..

Ignored

Quoting gatorinla

Disliked

draw a trendline...

Ignored

Thanks arthurb and sun... gotcha.

Gator, I've had that TL drawn starting from the Daily Low on Jan 7 actually. It's been mighty lonely up there for quite a while now..

Jan 27/28 Highs were the only 2 days up until March 10 to close above my 11sma w/o a wicked retracement back below it. Today is the 6th consecutive day to both Open and Close above it...

Barring a 90 pip collapse in the next hour, today is the first day to both open and close above the 50ema as well... The last one to do that was also Jan 8.

FUBAR...

#76,468
Mar 17, 2009 3:14pm Mar 17, 2009 3:14pm

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,179 Posts

ok maybe its time for some blood..

Attached Image (click to enlarge)

Click to Enlarge

Name: 5.jpg
Size: 177 KB

those who can, do. those who cant, talk about those who can

#76,469
Mar 17, 2009 3:19pm Mar 17, 2009 3:19pm

Legio_Ulpia
| Joined Nov 2008 | Status: Memento audere semper | 186 Posts

Quoting ak4x

Disliked

Just curious how the PA experts would have interpreted and/or traded this 1hr Bear candle based on the close... come on now, I'm being serious.

I'll go first altho I'm far from a PA expert by any comparison to the guys who eat and breathe that stuff, and say it looked seriously short to me.

BB settings are 15,2,2 and you can see what's happened the last two times any candle wick tapped the Upper band... serious pullback to the opposite BB on continuing follow thru.

This one gave us a Humungo Bull candle instead and seems to be holding 15 minutes...

Ignored

I'll tell you what I remember watching David Nison videos:

an hammer with a long wick is telling you that is a possible sign of trend reversal but....It is only when it confirm a resistance area and it needs confirmations from the next candle.

anyway,it's a sign that bulls are loosing steam.

#76,470
Mar 17, 2009 3:26pm Mar 17, 2009 3:26pm

peyman
Joined Nov 2008 | Status: Trader | 1,032 Posts

bearish dv bullish momentumis going to get weak?

Attached Image (click to enlarge)

Click to Enlarge

Name: birdv.gif
Size: 21 KB

#76,471
Mar 17, 2009 3:27pm Mar 17, 2009 3:27pm

TIckerShuffl
| Joined Nov 2007 | Status: Trader | 2,903 Posts

Quoting peyman

Disliked

bearish dv bullish momentumis going to get weak?

Ignored

I been watching that!!

#76,472
Mar 17, 2009 3:32pm Mar 17, 2009 3:32pm

kutta
| Joined Mar 2009 | Status: Trader | 54 Posts

Hi I Am New Here On The Forum But I Am Not New To Trading On The Fx I Will Be Posting My Views On The Market As Well My Currency Trading Is Eu

#76,473
Mar 17, 2009 3:36pm Mar 17, 2009 3:36pm

ak4x
Joined Aug 2007 | Status: TARFU... | 7,015 Posts

Quoting Legio_Ulpia

Disliked

anyway,it's a sign that bulls are loosing steam.

Ignored

That would have normally been my take as well, except for the following 2 and a half candles to present... really interesting tussle going on here.

I'm not a PA only trader, altho I have great respect for those that truly are. It just hasn't fit into my brain yet. No worries, I'm not looking for a new horse, I'm happy with the old glue factory nag I'm riding with now... we understand each other and I don't have to explain myself to it.

FUBAR...

#76,474
Mar 17, 2009 3:41pm Mar 17, 2009 3:41pm

Poocher
| Joined Dec 2006 | Status: Poocher | 1,018 Posts

Quoting kutta

Disliked

Hi I Am New Here On The Forum But I Am Not New To Trading On The Fx I Will Be Posting My Views On The Market As Well My Currency Trading Is Eu

Ignored

Hi Kutta!

Is this going to break up or down...tell us fast!