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  • #80,661
  • Mar 27, 2009 7:44am Mar 27, 2009 7:44am
Quoting CAnthonyMVE
we are going to see some downside according to the daily and the weekly
I'm not convinced... We could be forming the pennant on the daily which would mean south from here, but the W is still a possibility.

Even if we are heading back to retest lows, I would expect to see 1.35 again before breaking down from here.
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  • #80,662
  • Mar 27, 2009 7:46am Mar 27, 2009 7:46am
And it was in my mind all the time!

But my principal reason to see this drop was based in other charts, that I can't show! sorry.
I will never ask for money here, but who wants to see those charts must donate something to me, it is not for free!! Lot of hours wasted in that!!
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  • #80,663
  • Mar 27, 2009 7:48am Mar 27, 2009 7:48am
It is time to relax!!!
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  • #80,664
  • Mar 27, 2009 7:49am Mar 27, 2009 7:49am
Quoting F.x.
I'm not convinced... We could be forming the pennant on the daily which would mean south from here, but the W is still a possibility.

Even if we are heading back to retest lows, I would expect to see 1.35 again before breaking down from here.

yes..that's what i saw. daily will be down & then ride the W. & Monthly fly away...
  • #80,665
  • Mar 27, 2009 7:51am Mar 27, 2009 7:51am
Quoting emda
sure!
use 00's 20's and 50's numbers.
sorry I mean each 20 pips numbers... so.
00's 20's 40's 60's 80's and 50's... no reason to enter in any other levels... just with this simple rule... your trading will become much better.
  • #80,666
  • Mar 27, 2009 7:51am Mar 27, 2009 7:51am
Quoting essenza
indeed i'm hoping it will get back to 1.3425 first to put another short
Too risky to long now unless you are prepared to scale in and place your ISL@ 13180... Its safer and more prudent to wait for the basing/reversal signal first before buying into the bounce. I will post the signal once spotted.

Trade well and be patience.....dont chase the market but go along with it...
  • #80,667
  • Mar 27, 2009 7:52am Mar 27, 2009 7:52am
1.3320 is very strong support.
  • #80,668
  • Mar 27, 2009 7:54am Mar 27, 2009 7:54am
This pair originally got within 200 pips of it's destined target and then pulled this crazy stuff. Talk about inefficient! Anyways...We're going to 1.2215. RSI beginning to spill over on the daily...Look out below.
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  • #80,669
  • Mar 27, 2009 7:55am Mar 27, 2009 7:55am
another tip about round numbers
when price doesn't reach one of them... it is very probable that price will reach two opposite levels...

example with current pa:

price goes down until 1.3292... so doesn't reach 1.3280... so very probable to reach 1.3300 and then one more. 1.3320... it went to 1.3338.... so. then... same. didn't reach 1.3340. so has to go to 1.3320 and very probable that 1.3300 is reached again. I hope it is clear... of course this is not always the case... but this is a very good thing to have in mind. I'm developing an EA with this simple system.
  • #80,670
  • Mar 27, 2009 7:58am Mar 27, 2009 7:58am
Quoting emda
sorry I mean each 20 pips numbers... so.
00's 20's 40's 60's 80's and 50's... no reason to enter in any other levels... just with this simple rule... your trading will become much better.
right im with you since 50 is half 100 hundred we use it as well of course good advise
  • #80,671
  • Mar 27, 2009 7:58am Mar 27, 2009 7:58am
Quoting JgrB
1.3320 is very strong support.
What is that based in? I really don't see it.
  • #80,672
  • Mar 27, 2009 8:06am Mar 27, 2009 8:06am
Quoting Tenshi28
What is that based in? I really don't see it.
1.3326 is Feb 28 S&R
1.3322 DS3
I agree.
  • #80,673
  • Mar 27, 2009 8:07am Mar 27, 2009 8:07am
Quoting Scotty B
This pair originally got within 200 pips of it's destined target and then pulled this crazy stuff. Talk about inefficient! Anyways...We're going to 1.2215. RSI beginning to spill over on the daily...Look out below.
I would have to agree with you just needs to break some more support befor gettin involved it makes sense if europe needs a weeker euro and use need a stronger doller then what are we waiting for.
  • #80,674
  • Mar 27, 2009 8:08am Mar 27, 2009 8:08am
Quoting emda
another tip about round numbers
when price doesn't reach one of them... it is very probable that price will reach two opposite levels...

example with current pa:

price goes down until 1.3292... so doesn't reach 1.3280... so very probable to reach 1.3300 and then one more. 1.3320... it went to 1.3338.... so. then... same. didn't reach 1.3340. so has to go to 1.3320 and very probable that 1.3300 is reached again. I hope it is clear... of course this is not always the case... but this is a very good thing to have in mind. I'm developing an EA...
Hi Everyone, new trader here.

That's very interesting. I had heard about that.

Stupid question... what's an EA?
Doh! I didn't mean to do that.
  • #80,675
  • Mar 27, 2009 8:09am Mar 27, 2009 8:09am
Quoting Tenshi28
What is that based in? I really don't see it.
better now?
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  • #80,676
  • Mar 27, 2009 8:09am Mar 27, 2009 8:09am
Quoting Tenshi28
What is that based in? I really don't see it.
GL&GT
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  • #80,677
  • Mar 27, 2009 8:13am Mar 27, 2009 8:13am
Quoting emda
another tip about round numbers
when price doesn't reach one of them... it is very probable that price will reach two opposite levels...

example with current pa:

price goes down until 1.3292... so doesn't reach 1.3280... so very probable to reach 1.3300 and then one more. 1.3320......
what's the best time frame to see this Cain of action ?
  • #80,678
  • Mar 27, 2009 8:14am Mar 27, 2009 8:14am
Quoting emda
another tip about round numbers
when price doesn't reach one of them... it is very probable that price will reach two opposite levels...

example with current pa:

price goes down until 1.3292... so doesn't reach 1.3280... so very probable to reach 1.3300 and then one more. 1.3320... it went to 1.3338.... so. then... same. didn't reach 1.3340. so has to go to 1.3320 and very probable that 1.3300 is reached again. I hope it is clear... of course this is not always the case... but this is a very good thing to have in mind. I'm developing an EA...
I alway thought it was my imagination that price was behaving like that mayb you can post a coy of it in the forum and let us know about it
  • #80,679
  • Mar 27, 2009 8:15am Mar 27, 2009 8:15am
I took +70 pips profit a hours ago and now I come back to see that on the day we have fallen over 300pips...

what the heck is going on? I know today is friday but this is something else lol.

The DOW is going to take a Pounding today lol..
  • #80,680
  • Mar 27, 2009 8:16am Mar 27, 2009 8:16am
Quoting denicanfx
what's the best time frame to see this Cain of action ?
yes... interesting question....
it depends on volatily
between M5 and M15 is fine.
but remember that trading low timeframes such as M5 or M15 requires to look at the daily charts first.
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