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  • #91,901
  • May 1, 2009 9:49am May 1, 2009 9:49am
I think the market has already made it's call just from looking at the hourly chart. Also below 20 ema
  • #91,902
  • May 1, 2009 9:54am May 1, 2009 9:54am
Quoting Titus
i just saw that diamond, the target would be around 1.305

that would be a good place to long into 1.35 area i think

twt
aren't diamonds..continuation pattern?...if so..your arrow is facing the wrong way baby
  • #91,903
  • May 1, 2009 10:05am May 1, 2009 10:05am
Guess nobody here trades butterflies... I was hoping to get some confirmation about my chart...

Anyway, from what I understand that chart I posted constitutes a classic bearish butterfly pattern... Which would mean to look for a drop in the 3270-3300 range... maybe more like 3280-3320...
  • #91,904
  • May 1, 2009 10:06am May 1, 2009 10:06am
Quoting Big Bruv
aren't diamonds..continuation pattern?...if so..your arrow is facing the wrong way baby
i think it can be both continuation or reversal pattern, depends in which direction it wants to break.

but here i see pinbar on 4h and on daily, so i think a retracement is more in favor as shooting up but well i can be wrong. on weekly i see it go more up, but some consolidation first.

lets see
  • #91,905
  • May 1, 2009 10:07am May 1, 2009 10:07am
Quoting Big Bruv
aren't diamonds..continuation pattern?...if so..your arrow is facing the wrong way baby
Diamonds are forever!!!!!!

anyone got a MT4 fibonacci indicator thats nay good they want to send to me?
rat
  • #91,906
  • May 1, 2009 10:09am May 1, 2009 10:09am
Quoting rattyo
Diamonds are forever!!!!!!

anyone got a MT4 fibonacci indicator thats nay good they want to send to me?
Hey rattyo
if the picture you use is YOU...

i'd like to have your phone number...!!!:-)
  • #91,907
  • May 1, 2009 10:10am May 1, 2009 10:10am
Quoting F.x.
Guess nobody here trades butterflies... I was hoping to get some confirmation about my chart...

Anyway, from what I understand that chart I posted constitutes a classic bearish butterfly pattern... Which would mean to look for a drop in the 3270-3300 range... maybe more like 3280-3320...
Buttefly patterns requires fibonacci relationships to be observed I remember. Although it looks like a butterfly you would need to check the fib relationships to confirm. Do you agree?
  • #91,908
  • May 1, 2009 10:16am May 1, 2009 10:16am
Quoting Atlast
Buttefly patterns requires fibonacci relationships to be observed I remember. Although it looks like a butterfly you would need to check the fib relationships to confirm. Do you agree?
Sounds like you know more about it than I do - I just recall seeing the patterns and this one seems to be a fit. Do you know how to go about checking the fibs?
  • #91,909
  • May 1, 2009 10:23am May 1, 2009 10:23am
previous month data was altered again (lowered)
on this month's annoucement of month-over-month data.
Attached Image
  • #91,910
  • May 1, 2009 10:24am May 1, 2009 10:24am
Quoting F.x.
Sounds like you know more about it than I do - I just recall seeing the patterns and this one seems to be a fit. Do you know how to go about checking the fibs?
The pattern must have a .786 to .886 retracement to be valid. The retracement is to the middle of the butterfly,
AB=.786 XA
BC=.382-.886 AB
XD=1.27XA


B is middle of the butterfly
X is lower left
A is top left
B is top right
D is bottom right
  • #91,911
  • May 1, 2009 10:25am May 1, 2009 10:25am
Hello rattyo

The indicators have been sent already.... check previous posts...
Cheers

Pahadi
Quoting rattyo
Diamonds are forever!!!!!!

anyone got a MT4 fibonacci indicator thats nay good they want to send to me?
  • #91,912
  • May 1, 2009 10:27am May 1, 2009 10:27am
Quoting Atlast
The pattern must have a .786 to .886 retracement to be valid. The retracement is to the middle of the butterfly,
AB=.786 XA
BC=.382-.886 AB
XD=1.27XA

Thanks
  • #91,913
  • May 1, 2009 10:27am May 1, 2009 10:27am
Quoting rattyo
Diamonds are forever!!!!!!

anyone got a MT4 fibonacci indicator thats nay good they want to send to me?
hi, i use auto day fibb. hope it will be ok for you
Attached File(s)
File Type: mq4 AutoDayFibs.mq4   8 KB | 330 downloads
  • #91,914
  • May 1, 2009 10:28am May 1, 2009 10:28am
Quoting F.x.
Sounds like you know more about it than I do - I just recall seeing the patterns and this one seems to be a fit. Do you know how to go about checking the fibs?
If your butterfly pattern holds on the 5M you are looking at a topside of around 3300.
  • #91,915
  • May 1, 2009 10:32am May 1, 2009 10:32am
short 3275... tp 65
  • #91,916
  • May 1, 2009 10:33am May 1, 2009 10:33am
Quoting F.x.
Thanks
So therefore as you have drawn it, it is not a butterfly pattern, or that would be bulllish
  • #91,917
  • May 1, 2009 10:33am May 1, 2009 10:33am
Quoting rattyo
Diamonds are forever!!!!!!

anyone got a MT4 fibonacci indicator thats nay good they want to send to me?
Malc posted one on the AUslanco - GBP/JPY tread check attachments there..i think its called FibPiv_Daily...baby
  • #91,918
  • May 1, 2009 10:36am May 1, 2009 10:36am
The market has traded to 1.3275 again. I am sitting this one out and not going long. Why, just not sure about this so late in the day. I still see downside and therefore sitting out now
  • #91,919
  • May 1, 2009 10:38am May 1, 2009 10:38am
Quoting jphotdeals
short 3275... tp 65
If it gets to 65 it may break 63, and that is my cue for preparation of short again
  • #91,920
  • May 1, 2009 10:39am May 1, 2009 10:39am
Quoting Atlast
The market has traded to 1.3275 again. I am sitting this one out and not going long. Why, just not sure about this so late in the day. I still see downside and therefore sitting out now
not much momemtum going north that is why short should work out. big boys enjoying their lavish lifestyle early this weekend.

3271 if broken... 3265 shouldn't be a problem
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