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  • #681
  • Mar 18, 2009 3:42pm Mar 18, 2009 3:42pm
Quoting elitejets
Talk about the mother of all overreactions to Mr Benrnanke's announcement.
All my charts with a USD in them have gone mad and are hard to read now.
Gold took off with oil and the indices.
I might have to put FOMC statements under the same header as NFP and stay away.
Nicola
It will be a good idea,if you can get these charts,it SHOWS the strength or weakness of each individual currency against a basket of other currencies
i have taken it from Hussins thread,BUT the PA showed Dollar weakness.
here is a post explaining it better, thanks to Peaches for it....there is a link for a downloa as well

http://www.forexfactory.com/showpost...postcount=5796

cheers

baz
  • #682
  • Mar 18, 2009 4:08pm Mar 18, 2009 4:08pm
Quoting strat
Here is absolute proof that you do not read, absorb and understand what I write. I'm beginning to think I'm wasting my time.

Please go back and read my post on Timeframes where, if you had read and understood, you would not have asked this question.

This is not just for reddog19 but all you others who do not read, absorb and understand.
I've re-read as suggested.

My problem is that many of my charts appear to have too many weekly S/R zones.

Quoting strat
....If you want to find really strong, powerful levels of resistance and support, then pull up a Monthly chart and where the Monthly levels coincide with the Weekly levels is where you will find super powerful major, major support and resistance. If you do this, do not draw other lines in as you will end up with more horizontal lines than price bars!......
When I noticed your chart with weekly and daily coinciding S/R.....

Back to the bottom of the learning curve!
  • #683
  • Edited 5:34pm Mar 18, 2009 5:26pm | Edited 5:34pm
Quoting reddog19
I've re-read as suggested.

My problem is that many of my charts appear to have too many weekly S/R zones.

When I noticed your chart with weekly and daily coinciding S/R.....

Back to the bottom of the learning curve!
Reddog are you putting in a SR line for every daily or weekly candle close? I just do the ones where the price changed direction ...
Nicola

PS - I make them pretty faint dotted lines so as not to be distracting too
  • #684
  • Edited Mar 19, 2009 6:39am Mar 18, 2009 5:27pm | Edited Mar 19, 2009 6:39am
Hi Strat,
Ref the chart you posted earlier with all the 'mess' on it (Japanese Clouds I seem to recall), all I see is a aircraft wiring diagram!! You need a degree in Advanced Maths and Physics to fathom it and all it does is (more than likley) give you conflicting HISTORICAL data. In the military 'smoke' (ie clouds) are used to cover a retreat or move in a battle - all that cloud does is cover the PA ....why make things so hard hey??

I'm thinking that Fibs and SR should be drawn from line charts. The wicks on candles etc just show where price 'went' but didn't stick. I have experimented and found the best fib/SR confluence to be where I have drawn SR levels using a line chart, then Fib'd using the line and clicked back to candles.
Good trading all - don't you just hate news events messing up your charts and analysis???
Trade less and become more profitable!
  • #685
  • Mar 18, 2009 6:29pm Mar 18, 2009 6:29pm
Quoting cowboying
Hi Strat

Looking at your multiple S&R chart, when you get two lines together confluence (Monthly) gives much stronger signals. Along with being a good pivotal point for the future, notice how price is attracted both in support and resistance to it.

Your other chart Japanese chart buy above sell below the chequered mash?

Now i'm off to take cover

Great being part of the Strat university
You're on the right track. (track - trains - get it?)

Strat University?
15 YEARS OF PASR ON FOREX FACTORY!
  • #686
  • Mar 18, 2009 6:35pm Mar 18, 2009 6:35pm
Quoting elitejets
Talk about the mother of all overreactions to Mr Benrnanke's announcement.
All my charts with a USD in them have gone mad and are hard to read now.
Gold took off with oil and the indices.
I might have to put FOMC statements under the same header as NFP and stay away.
Nicola
It wasn't just Bernanke, Nicola, it was also:

Fed pumps $1.2tn into US economy

The US Federal Reserve says it will buy $1.2 trillion worth of debt to help boost lending and promote economic recovery.


I hope they have plenty of toner for the printer!
15 YEARS OF PASR ON FOREX FACTORY!
  • #687
  • Edited 7:02pm Mar 18, 2009 6:43pm | Edited 7:02pm
Quoting Baba G
I think i upset him ooopps

I just wanted to know what the hell he was up to...oh well hope strat dont kill me.

espacialy as my cad yen never came near engagement .

Thanks so much for your input on cad jpy everyone.And you were all right....

We got a TEAM !!!!!
But it did follow the plan:

"look for retrace to support at psycho 77.00 or maybe down to the 20 THEN go long."

Now sat on support waiting for the markets to get over their rush of blood

"And you were all right...." - didn't realise this was a test we were in!
15 YEARS OF PASR ON FOREX FACTORY!
  • #688
  • Mar 18, 2009 7:17pm Mar 18, 2009 7:17pm
Quoting Nanook438
Hey Strat and all-
Been lurking but trying to learn from everyone. Been taking your posts and looking at the charts to see if I can see what you are seeing. See?
Thanks for all your insights Strat!
OK, Invisible Man, first post over and done with so can you see what I see?

Pity you, if you can, my head is still vibrating from 50s and 60s Sex, Drugs, Rock n Roll. Never ever did drugs but made up for it with the others. Now do you still want to see?
15 YEARS OF PASR ON FOREX FACTORY!
  • #689
  • Mar 18, 2009 7:19pm Mar 18, 2009 7:19pm
Quoting strat
Lance, I didn't put all of the Daily levels on as when I zoom out to see the bigger picture, it would be too many lines. Maybe I should do a close up.

Yes, I am "leaking" it as you so eloquently put it because this is something I worked out for myself and not from someone else. I said I would not spoon feed on here and I'm very conscious of the lurkers just looking for tid-bits without contributing. I want everyone to start thinking. If you knew that support and resistance was so valuable you would search and search until you found how to correctly...
I notice now that you are marking the close of the minor swings as SR as well as the points that have been touched multiple times. I was initially just looking for the places that have stood up to the price on more than one occasion. By looking for the ones that have already held, I was missing the places that may also hold in the future. Basically, I was looking at HISTORICAL SR and not POTENTIAL SR. After all, for a price to hold twice it will have needed to hold at least once already.

The interesting thing is, I used the chart you posted on 3/10 of the U/J to figure it out. In that chart you have marked 95.534 as a support level; low and behold the bottom falls out of the $ today and the U/J slams right into that level and stops. You picked the spot a week ago. Not bad.
  • #690
  • Mar 18, 2009 7:24pm Mar 18, 2009 7:24pm
Quoting geoffrod
well so far so good, nice sharp down move,
1.2400 is looking like a likely place for this to take a breath, time will tell, i am up over $8000 on demo, and a couple of bucks on a micro live account, so i am happy at the moment, things could change though.
Hope you got in on it Dan.
cheers
Geoff
This is not just to Geoff but to everyone who is ignoring my personal request several posts back:

Please can we cool it on stating pips and $ values - it serves no purpose whatsoever and only upsets people and fans hatred.

I don't ask for anything else other than this, so......

LANCE - can you add my personal request post in somewhere prominent on the Index. Thanks.
15 YEARS OF PASR ON FOREX FACTORY!
  • #691
  • Mar 18, 2009 7:32pm Mar 18, 2009 7:32pm
Quoting strat
This is not just to Geoff but to everyone who is ignoring my personal request several posts back:

Please can we cool it on stating pips and $ values - it serves no purpose whatsoever and only upsets people and fans hatred.

I don't ask for anything else other than this, so......

LANCE - can you add my personal request post in somewhere prominent on the Index. Thanks.
My humblest appologies strat.
wont happen again
cheers
geoff
  • #692
  • Mar 18, 2009 7:32pm Mar 18, 2009 7:32pm
Quoting Grimweasel
Hi Strat,
Ref the chart you posted earlier with all the 'mess' on it (Japanese Clouds I seem to recall), all I see is a aircraft wiring diagram!! You need a degree in Advanced Maths and Physics to fathom it and all it does is (more than likley) give you conflicting HISTORICAL data. In the military 'smoke' (ie clouds) are used to cover a retreat or move in a battle - all that cloud does is cover the PA ....why make things so hard hey??

I'm thinking that Fibs and SR should be drawn from closing prices. The wicks on candles etc just show where price...
Please PM me
15 YEARS OF PASR ON FOREX FACTORY!
  • #693
  • Mar 18, 2009 7:44pm Mar 18, 2009 7:44pm
Diffusion index charts improved

http://blog.forexfactory.com/

Does anybody understand this and if it has any use in our trading?

I'm as thick as two short planks when it comes to economics - bores the hell out of me!
15 YEARS OF PASR ON FOREX FACTORY!
  • #694
  • Mar 18, 2009 7:45pm Mar 18, 2009 7:45pm
Quoting strat
This is not just to Geoff but to everyone who is ignoring my personal request several posts back:

Please can we cool it on stating pips and $ values - it serves no purpose whatsoever and only upsets people and fans hatred.

I don't ask for anything else other than this, so......

LANCE - can you add my personal request post in somewhere prominent on the Index. Thanks.
Done
Attached File(s)
File Type: xls Index Page 18.xls   733 KB | 738 downloads
  • #695
  • Mar 18, 2009 7:46pm Mar 18, 2009 7:46pm
Quoting thegunslinger
Agreed....
Good going, tgs - I'm really pleased for you!
15 YEARS OF PASR ON FOREX FACTORY!
  • #696
  • Mar 18, 2009 7:58pm Mar 18, 2009 7:58pm
how powerful these level of s/r can be and are
amazing
the charts attached are the aud/usd, now it may go higher yet, but it just amazes me how these levels continue to work, round numbers!!!!!

cheers
Geoff
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy12022009.gif Size: 30 KB
Click to Enlarge Name: usdjpy12022009now.gif Size: 27 KB
  • #697
  • Mar 18, 2009 8:00pm Mar 18, 2009 8:00pm
Quoting strat
Hmm, I wonder what you lot will make of this?
GBPUSD Support & Resistance INTO THE FUTURE

"Some of these levels were known in 1984."

I am struggling with how far back to look for S and R. And I'm especially having trouble with this time frame. A dollar today is not nearly the same thing it was 20 years ago. So why should there be a straight line relationship with levels from 1984?

Wheelz
  • #698
  • Mar 18, 2009 8:07pm Mar 18, 2009 8:07pm
Quoting strat
Thanks bjohn34,

Well what a dumb sh*t I am! I have all those clocks in my Bookmarks and never look at them - not to mention that ball of fire in the sky!

Maybe I need to check my trading now that I don't know diddly squat!

Since you said math, you won't know what EPL is so méi wèn tí

xie xie

I've been watching this exchange with anticipation. I admit I laughed out loud at your conclusion. I'm delighted to know I'm not the only one occasionally confused over Time.

Wheelz
  • #699
  • Mar 18, 2009 8:57pm Mar 18, 2009 8:57pm
Quoting elitejets
Reddog are you putting in a SR line for every daily or weekly candle close? I just do the ones where the price changed direction ...
Nicola

PS - I make them pretty faint dotted lines so as not to be distracting too
Nicola -

thanks for this tip. Makes good sense and certainly cleans things up.
"Money is easy to make, but hard to keep" - FWV 1975
  • #700
  • Mar 18, 2009 9:51pm Mar 18, 2009 9:51pm
Quoting baz
It will be a good idea,if you can get these charts,it SHOWS the strength or weakness of each individual currency against a basket of other currencies
i have taken it from Hussins thread,BUT the PA showed Dollar weakness.
here is a post explaining it better, thanks to Peaches for it....there is a link for a downloa as well

http://www.forexfactory.com/showpost...postcount=5796

cheers

baz
Thanks Baz. I studied correlation for the longest time and it was at the time when almost everything was correlated. I really thought I had found The Holy Grail (This isn't it, but I know what is) and then months later it was totally out of whack! It ended up in the junk bin along with Elliott Wave and the cycle stuff I had bought!

It doesn't work for me but it may for others. At the end of the day, there is still no substitute for trading what you see on your charts.

I used to try and trade the EURGBP based on what each separate currency was doing and did my head in doing it. Now I just trade it as another pair based on it's own merit, i.e., price action.
15 YEARS OF PASR ON FOREX FACTORY!
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