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  • #85,261
  • Apr 13, 2009 3:15pm Apr 13, 2009 3:15pm
Short only below 4hour SMA, go long near is key here, anything else is madness!!

4hour SMA = 1.3365 around, that last low of 1.3355ish was the 4hour, for a 30pip bounce!!

Breaking it, Target is meet the 24hour @1.4750 area I'd bet, 24hour is 1.4720 ish currently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #85,262
  • Apr 13, 2009 3:17pm Apr 13, 2009 3:17pm
Quoting Pipsta
Break but need close above trendline for confirmation.
Hi Pipsta,
You missed onee line that I have. From 4.8.2009 0600 to 4.9.2009 1100. It will trace forward to now.
  • #85,263
  • Apr 13, 2009 3:18pm Apr 13, 2009 3:18pm
while i was typing that last post.....made another run up.

looking at rsi on the 5 and 15 we still have some room to move north

though it does look like it may be flattening for some consolidation.

we might stay in this 50 pip range for the next few hours till asia.

keep in mind asia can sometime reverse whatever NY did
--post hoc ergo propter hoc--
  • #85,264
  • Apr 13, 2009 3:19pm Apr 13, 2009 3:19pm
Quoting gatorinla
tough question.. first s/r i see is 7360 so personally i would use 7375... but this is not a normal trade your not looking for it to go that high.. your ceiling is about 7300 so i would say give it some breathing room maybe 7325 but thats your call.. i would not hold on to it above 7375 unless its weakening..its actually a tripple top give or take 50 pips.. on such a long term i will call it a tripple top..using oct 14,jan and todays high.. tripple tops are slighty less likely to hold then a double top..if commodities dive this is a good pair to...
thanks for advice..appreciated
  • #85,265
  • Apr 13, 2009 3:20pm Apr 13, 2009 3:20pm
sorry 1.3300 looked at the GBPUSD Chart doh!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #85,266
  • Apr 13, 2009 3:23pm Apr 13, 2009 3:23pm
Hi there,

I think I had explain my graph on the 4hr positive divergence to price from Histogram resulting in a jump from this 200+pips long started from FRI itself. Beside the histogram reason behind this long jump.

I went to PFX and went to see their COT report and the COM Traders are net long their position on the GBP and EUR. Also from COT and Timingcharts.com all show signs of COM traders long the EUR.

Anyone knows how to use the COT report or get free signal?
Forex Price Action Hacked - Price Action Rockstar
  • #85,267
  • Apr 13, 2009 3:27pm Apr 13, 2009 3:27pm
technically speaking maybe... but fundamentally us market had a rather good rally and eur/usd should adjust accordingly since it has not all day. I dont see a 1.3390 break.

bears are still dominant but should be fun either way!
  • #85,268
  • Apr 13, 2009 3:28pm Apr 13, 2009 3:28pm
Bounced off the 4hour again LOL, interest how I've got the easiest system going with the highest success rate and no ones interested though.


Your own loss I guess.

GBPUSD's been bouncing off the 4hour all evening to.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #85,269
  • Apr 13, 2009 3:36pm Apr 13, 2009 3:36pm
Quoting Turveyd
Bounced off the 4hour again LOL, interest how I've got the easiest system going with the highest success rate and no ones interested though.


Your own loss I guess.

GBPUSD's been bouncing off the 4hour all evening to.
Is it possible to explain with a chart?
do you mean a bounce from the upper tl on the 4 hour signaling a sell area??
Some drink at the fountain of knowledge. Others just gargle !
  • #85,270
  • Apr 13, 2009 3:43pm Apr 13, 2009 3:43pm
This is just the daily, general look on the pair.

Attached Image (click to enlarge)
Click to Enlarge Name: euro1.gif Size: 37 KB
Fay All Time Return: -98.7%
  • #85,271
  • Apr 13, 2009 3:46pm Apr 13, 2009 3:46pm
..for a quick scalp down, poss leading into a further down??

We'll see!
Good Trading. (keep it simple).
  • #85,272
  • Apr 13, 2009 3:48pm Apr 13, 2009 3:48pm
Quoting Kess.
I only follow my trading plan. My trading plan is based on only 1 thing, RSI with smooth period set up to 2. Some one can know this as QQE. When I developed trading plan, I tried all indikators and all trading systems, but this one suits to my personality the best so I use it. If I like how signal is developed, so I enter the position, If I do not like signal because of volatility or news coming ahead so I only watch or do anything else. Hundreads of hours watched price action is essential thing also, for me. With this setup, is very high probability...
hi i just want to congratulations for making 480pips today thats about 240pips a pair thats fregin asume i know how difficult that is with tight sl so cool man i like reading your posts are you profesional trader you look like floor trader?
  • #85,273
  • Apr 13, 2009 3:48pm Apr 13, 2009 3:48pm
Quoting I_Know_Best
Hi Pipsta,
You missed onee line that I have. From 4.8.2009 0600 to 4.9.2009 1100. It will trace forward to now.
Yea, after further review I've added a couple more to the mess. Typically I find that the minor trendlines offer resistance points on moves that don't hold up over the long haul.

We didn't get a close above the trendline on that last break but the breaking itself may have given us a clue as to the strength of the trend. In fact two consecutive hourly candles had a break even though no close above them. As long as lower time frames(this is an 1hr chart) support bull flags and formations I can see this following through and going north. My only concern is the overbought nature of the 4hr and 1 hr chart. Don't want to be waiting out a down draft in a position even if the daily chart has more uptrend left in it.

That's why I could agree with some of the posters here in saying that a drop could be in store before the push upward begins again. I missed the perfect set up last night stochs and breaks all pointed the same way. But I had a long weekend and slumber took over my body.

That's what I love about forex, every day is a new opportunity. The added trendlines are black in comparison to the brown ones. Looks like three will converge in a few hours and I wouldn't be surprised if the price decides to join the party using it as a pit stop on the way to 1.35. Hard to say. That retrace looms and a drop could inspire a sell off giving back all it just took. Even against the daily stoch which might continue the consolidation of the past few weeks and range it between 1.35 and 1.31 for the time being.
Attached Image
  • #85,274
  • Apr 13, 2009 3:52pm Apr 13, 2009 3:52pm
what time will the US market closed? (NY?)
- Always pray on your trading - God know the best for everyone
  • #85,275
  • Apr 13, 2009 3:54pm Apr 13, 2009 3:54pm
Quoting kingindian
what time will the US market closed? (NY?)
5 min to end session. LoL
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  • #85,276
  • Apr 13, 2009 3:58pm Apr 13, 2009 3:58pm
The scalping is pretty good while waiting for a break or retrace. Wouldn't leave anything hanging open though.
  • #85,277
  • Apr 13, 2009 4:03pm Apr 13, 2009 4:03pm
Time for retrace?
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  • #85,278
  • Apr 13, 2009 4:04pm Apr 13, 2009 4:04pm
Quoting plan-b
Is it possible to explain with a chart?
do you mean a bounce from the upper tl on the 4 hour signaling a sell area??

Plot a 240SMA on a 1M chart, or a 48SMA on a 5M chart, Longs only above, shortly only below, aim to go long or short near it exiting on a break.

Easy peasy that'll keep you outta harms way and on the right side of the trend
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #85,279
  • Apr 13, 2009 4:10pm Apr 13, 2009 4:10pm
Quoting Turveyd
Plot a 240SMA on a 1M chart, or a 48SMA on a 5M chart, Longs only above, shortly only below, aim to go long or short near it exiting on a break.

Easy peasy that'll keep you outta harms way and on the right side of the trend
risk/reward?
Some drink at the fountain of knowledge. Others just gargle !
  • #85,280
  • Apr 13, 2009 4:18pm Apr 13, 2009 4:18pm
anyone looking at the daily?

my chart shows the EXACT same candle....down to the pip....high and low

weird
--post hoc ergo propter hoc--
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