- #19,202
- Mar 24, 2009 11:14pm Mar 24, 2009 11:14pm
- | Joined Dec 2008 | Status: revisit | 1,896 Posts
Hi, I see this as a three little sister, there is also a divergence on MACD. I think the price is going to come down. any comments?
It is still too early if I say that the market become bearish again. However, it is also not a good idea if I see this pair will continue rally after "resting" at fib 50%.
My simple thought is...for now...the price is RHYTHMING as per h4. EU already go through below 21ema and might going up again (see support level fib 38.2% and 8ema of d1).
Basic lesson : Price above 89sma (h4) = uptrending market. So, I will not in favour to SHORT this pair for the momment.
As Albert Einstein once said - KEEP IT SIMPLE, BUT NO MORE SIMPLE... maybe you can apply this in your market view too...
HAVE A LOOK AND MAKE YOUR OWN THOUGHT
- #19,205
- Mar 25, 2009 4:23pm Mar 25, 2009 4:23pm
Anyone else watching the E/U??
Those 2 most recent tails to the topside are getting me excited - watching and waiting for that 3rd sister
MACD has also shed a lot of strength and price has also broken below the 21. Rules says that price tends to come back to the 21 (or a little above) before moving down towards the 89.
Daily TF is also looking ready for a move....tower top formation I think its called.
Those 2 most recent tails to the topside are getting me excited - watching and waiting for that 3rd sister
MACD has also shed a lot of strength and price has also broken below the 21. Rules says that price tends to come back to the 21 (or a little above) before moving down towards the 89.
Daily TF is also looking ready for a move....tower top formation I think its called.
Good afternoon all,
I've not long got back from a long trip to the states (Miami - Spring break) which was out of this world
Back to trading - so looks like i've mist quite a few big moves which allowed you guys to net some nice pips Well done to all.
I have just taken on the TC on the 4H on the GBP. Reason for the trade:
- large Bearish engulfing candle on the 4H.
- close below the previous 5 candle box range.
- Found resistance at the top of the range with 8 & 21 heading south
- MACD trigger signal.
Please see my chart attached. PLEASE NOTE my SL is larger than the standard method, reason for this is the market is in a box range, so could find support below the broken support line.
Any questions please ask
TP = 4425
Cheers WG
I've not long got back from a long trip to the states (Miami - Spring break) which was out of this world
Back to trading - so looks like i've mist quite a few big moves which allowed you guys to net some nice pips
Well done to all.I have just taken on the TC on the 4H on the GBP. Reason for the trade:
- large Bearish engulfing candle on the 4H.
- close below the previous 5 candle box range.
- Found resistance at the top of the range with 8 & 21 heading south
- MACD trigger signal.
Please see my chart attached. PLEASE NOTE my SL is larger than the standard method, reason for this is the market is in a box range, so could find support below the broken support line.
Any questions please ask
TP = 4425
Cheers WG
Good afternoon all,
I've not long got back from a long trip to the states (Miami - Spring break) which was out of this world
Back to trading - so looks like i've mist quite a few big moves which allowed you guys to net some nice pips
I have just taken on the TC on the 4H on the GBP. Reason for the trade:
- large Bearish engulfing candle on the 4H.
- close below the previous 5 candle box range.
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How did you decide your TP? There's no MA or psychological number there.
Edit: Was it the Fib?
I'm trying to read through all of Phillip's material but nearly every single .zip file I try and save/open is not working, anybody else experienced this problem?
Finding the system intriguing and wanted to do further reading but not getting very far at the minute
Finding the system intriguing and wanted to do further reading but not getting very far at the minute
- #19,213
- Mar 26, 2009 5:20pm Mar 26, 2009 5:20pm
I've gone back through a couple of old posts just randomly selected from the table of contents on page 1 and have had no problems opening up and listening to the mp3s.
Maybe deleting your temporary internet files and retrying will help?
Maybe deleting your temporary internet files and retrying will help?
I'm trying to read through all of Phillip's material but nearly every single .zip file I try and save/open is not working, anybody else experienced this problem?
Finding the system intriguing and wanted to do further reading but not getting very far at the minute
- #19,216
- Edited 6:34pm Mar 26, 2009 6:23pm | Edited 6:34pm
May be a bit early to say, but I'm waiting in the wings for another short if Price Action confirms. Phillips famous 3 little sisters again. Yesterdays one on the E/U worked out nicely.
MACD also looking weak with some solid divergency. If I was going to gamble, I'd be tempted to place a sell order at 1.4540, SL at 1.4640, looking at a target in the area of 200SMA = 1.4260 level. Will have to control myself and wait for the signal though
PS - also a nice head and shoulders formed and neckline has already been broken to the downside
MACD also looking weak with some solid divergency. If I was going to gamble, I'd be tempted to place a sell order at 1.4540, SL at 1.4640, looking at a target in the area of 200SMA = 1.4260 level. Will have to control myself and wait for the signal though
PS - also a nice head and shoulders formed and neckline has already been broken to the downside
- #19,219
- Mar 26, 2009 10:34pm Mar 26, 2009 10:34pm
May be a bit early to say, but I'm waiting in the wings for another short if Price Action confirms. Phillips famous 3 little sisters again. Yesterdays one on the E/U worked out nicely.
MACD also looking weak with some solid divergency. If I was going to gamble, I'd be tempted to place a sell order at 1.4540, SL at 1.4640, looking at a target in the area of 200SMA = 1.4260 level. Will have to control myself and wait for the signal though
PS - also a nice head and shoulders formed and neckline has already been broken to the downside
Thanks a lot Benstevo. very inspiring answer. I did not get too much info on the nesting doll. I guess, if correct. Those cyan horizontal lines are your nesting doll lines. Am i right?
