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  • #94,641
  • May 11, 2009 4:04am May 11, 2009 4:04am
cycle lines called the top exactly, depending on timeframe. as soon as i learn this more, it will be very effective tool
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd051009-3.gif Size: 19 KB
Click to Enlarge Name: eurusd051009-4.gif Size: 19 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #94,642
  • May 11, 2009 4:04am May 11, 2009 4:04am
Quoting Atlast
Good morning Notch, informative chart. I will be positioning for the move you show there.

Hi AtLast,
Happy trading!
  • #94,643
  • May 11, 2009 4:05am May 11, 2009 4:05am
Quoting govno
Why are you so rushing with longs? Can't you wait for a retrace before you buy anything? At least a Fib 236...
1.36 is strong and hard to break down. First we can move to 1.40xx than 1.44xx. In about 2 weeks maybe less.
  • #94,644
  • May 11, 2009 4:05am May 11, 2009 4:05am
Quoting Larseg
Notch are you using AVA trader?
If not where did you get that chart? (Can I get it from WWW).
It looks very similar to the one i Posted 8 hours ago Except Im aming for 1,3847
Hi Lars,
I got the chart from TradingCentral.
  • #94,645
  • May 11, 2009 4:07am May 11, 2009 4:07am
Quoting nedim75
1.36 is strong and hard to break down. First we can move to 1.40xx than 1.44xx. In about 2 weeks maybe less.
What I had in mind was more like 1.3575 and as I write this 1.36 broke down.
  • #94,646
  • May 11, 2009 4:07am May 11, 2009 4:07am
IMHO.

The direction I am seeing right now is down to maybe 3580/70 area then a retrace to around 3640/50 area and then the trend reversal down to 3200 with minor stops along the way at s/r levels....or just straight down.
  • #94,647
  • May 11, 2009 4:10am May 11, 2009 4:10am
Okay.

Levels not to be scratching your arse at:

@1.3708
@1.3658
@1.3607
@1.3558
@1.3508
@1.3458

Market profile analysis to follow.
  • #94,648
  • May 11, 2009 4:14am May 11, 2009 4:14am
5 min 15 min 1 hour 4 hourly candles all trending down now
  • #94,649
  • May 11, 2009 4:22am May 11, 2009 4:22am
Market profile has a P formation which suggests much long covering but no short commitment at this point in the trading day.

MP hints that a upward leg to 1.3635 will occur before a continuation of the downside can arise. Above 1.3635 expect 1.3652 which is the top end of today's value area.

A break out of todays balance at either1.3666 or 1.3584 should signal a breakout in that direction.

Many single ticks at 1.3432 to 1.3584. These areas are likely to act as a magnet so expect price to fill them in before moving upwards with any conviction.
  • #94,650
  • May 11, 2009 4:27am May 11, 2009 4:27am
Quoting Larseg
I hope all you shorters see the MACD is going down to where it was before the week-end.... without affecting the price... Hence there's alot of buyers out there....
LarsSeg...

Fishy, is that you?
  • #94,651
  • May 11, 2009 4:28am May 11, 2009 4:28am
As no time to sit today to see I placed only shorts before to have tp1 at 1.3530 & next session 1.3341, perhaps working nicely.
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: eu53.gif Size: 7 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #94,652
  • May 11, 2009 4:30am May 11, 2009 4:30am
Quoting notch
LarsSeg...

Fishy, is that you?
Nopes.
  • #94,653
  • May 11, 2009 4:34am May 11, 2009 4:34am
Quoting TheFisherman
Nopes.
Me, I FUp this morning. Opened two trades ~3633, close first one on 3600 and shoulda moved the 2nd SL to BE point. insted I moved it to 3633 hence I got thrown out with only 30 pips.

Oh well...
  • #94,654
  • May 11, 2009 4:34am May 11, 2009 4:34am
Quoting notch
Market profile has a P formation which suggests much long covering but no short commitment at this point in the trading day.

MP hints that a upward leg to 1.3635 will occur before a continuation of the downside can arise. Above 1.3635 expect 1.3652 which is the top end of today's value area.

A break out of todays balance at either1.3666 or 1.3584 should signal a breakout in that direction.

Many single ticks at 1.3432 to 1.3584. These areas are likely to act as a magnet so expect price to fill them in before moving upwards with any conviction....
we just broke thru 1.3584
  • #94,655
  • May 11, 2009 4:35am May 11, 2009 4:35am
Quoting TheFisherman
Me, I FUp this morning. Opened two trades ~3633, close first one on 3600 and shoulda moved the 2nd SL to BE point. insted I moved it to 3633 hence I got thrown out with only 30 pips.

Oh well...
30 pips is better than no pips.
  • #94,656
  • May 11, 2009 4:37am May 11, 2009 4:37am
Quoting notch
30 pips is better than no pips.
Yeah, that's exactly what I told myself. Yet, this was a rookie mistake since the SL shoulda' been moved above the upper trend line.
  • #94,657
  • May 11, 2009 4:37am May 11, 2009 4:37am
Quoting TheFisherman
Yeah, that's exactly what I told myself. Yet, this was a rookie mistake since the SL shoulda' been moved above the upper trend line.
I mean the M5 upper TL to be specific.
  • #94,658
  • May 11, 2009 4:38am May 11, 2009 4:38am
Quoting Pipster888
we just broke thru 1.3584
We did...I expected it to move down with a little more conviction than it is displaying but we'll see.
  • #94,659
  • May 11, 2009 4:39am May 11, 2009 4:39am
Quoting TheFisherman
Yeah, that's exactly what I told myself. Yet, this was a rookie mistake since the SL shoulda' been moved above the upper trend line.
I guess we all make similar mistakes from time to time. The human mind is a weird thing.
  • #94,660
  • May 11, 2009 4:44am May 11, 2009 4:44am
Opened two times trade @ 3635, close on 3600, +70
I finished my day!
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