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  • #3,121
  • Edited 2:51pm May 17, 2009 5:53am | Edited 2:51pm
Morning G,

I agree mostly. To my eyes, a lot of pairs are showing a lot of conflicting signals in terms of PA, S/R and TLs.

One i have my eye on is AUDUSD (daily chart below). The big boss is showing a series of HH, HL, as is the boss. While last weeks bar has retraced to 61 Fib of the previous week, overall trend is still up.

To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL can prove itself as support, i will be looking for PA to go long.

Unfortunately there is a key level not far above at 0.79500, so if price does go, i would expect it to stall here.

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  • #3,122
  • May 17, 2009 5:58am May 17, 2009 5:58am
Quoting Lotuselanman

Comments anyone?
Hi LEM, i like your charts and you obviously put a lot of time into your analysis.

I don't like a short on EURGBP as i just think there's too much support just below where it is now - 0.8800, 0.8750, 0.8725.

As i said to Baba G, to my eyes theres a lot of conflicting info on the charts at the moment and its a good time to practice patience.

Keep it up LEM.

Dan
  • #3,123
  • May 17, 2009 6:13am May 17, 2009 6:13am
I never got my cadyen long as my ticket ran into rate days and an nfp at the time...then i didnt get a daily bar i liked and the "long retace pin" which formed the DBLHC on the weekly...didnt close as a pin on my feed....i knew it was on others but i still got that habit of trading my screen.......Anyway here she is again showing me something which is a micro cosom of the macro cosom to my eyes.....enjoy........g
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  • #3,124
  • May 17, 2009 6:16am May 17, 2009 6:16am
cadyen
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  • #3,125
  • May 17, 2009 6:19am May 17, 2009 6:19am
Battle of the Planets.........
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  • #3,126
  • May 17, 2009 6:24am May 17, 2009 6:24am
BANANA!!!!!
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  • #3,127
  • May 17, 2009 6:29am May 17, 2009 6:29am
Im just a slave to the vibe.......i love the dailys......hope you enjoy....g
  • #3,128
  • May 17, 2009 6:35am May 17, 2009 6:35am
In the begining.....
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  • #3,129
  • May 17, 2009 6:36am May 17, 2009 6:36am
the boss gave the orders
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  • #3,130
  • May 17, 2009 6:42am May 17, 2009 6:42am
Daily.....swords out....
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  • #3,131
  • Edited 7:44am May 17, 2009 7:13am | Edited 7:44am
The boxes are for highlighting purposes only........
  • #3,132
  • May 17, 2009 7:21am May 17, 2009 7:21am
Quoting AstonDan
Morning G,

I agree mostly. To my eyes, a lot of pairs are showing a lot of conflicting signals in terms of PA, S/R and TLs.

One i have my eye on is AUDUSD (daily chart below). The big boss is showing a series of HH, LL, as is the boss. While last weeks bar has retraced to 61 Fib of the previous week, overall trend is still up.

To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL...
Dan, I'm sure you meant to say Higher Highs and Higher Lows.
Whenever I see a range of more than 4 bars having a tug of war as we have this week, (6 bars) It shows me that price has run into a powerful object. You may or may not be able to see it, but it's there. Take a look around. Close to a triple top too. (I think)
The main question I have is about your trend line, was there some special reason to start it where you did? I could be missing something. Thanks for your help.

@ Baba G........You got some MA's on your chart, are we turning over a new leaf?

Roy.
Polishing my crystal ball
  • #3,133
  • May 17, 2009 7:27am May 17, 2009 7:27am
Quoting 30XTCi
Dan, I'm sure you meant to say Higher Highs and Higher Lows.
Whenever I see a range of more than 4 bars having a tug of war as we have this week, (6 bars) It shows me that price has run into a powerful object. You may or may not be able to see it, but it's there. Take a look around. Close to a triple top too. (I think)
The main question I have is about your trend line, was there some special reason to start it where you did? I could be missing something. Thanks for your help.

@ Baba G........You got some MA's on your chart, are we turning over...
lol...they are the 150 and 365 Ex close.....just there to add a little direction....notin to do with my calls....
  • #3,134
  • May 17, 2009 7:42am May 17, 2009 7:42am
So on the whole i had valid "BANANA" bars that worked in the over all plan and make up BUT i had to pass on them.....and what a shame it is......BUT AGAIN....when and it does happen.....bars in that place in that similar terrain are the "real thing" or not "bananas" you can see the kind of profits im looking at.....can you?.........



This "Baba Sunday school project" is sponsered by The higher Time Frames and the Bigger Picture.com
  • #3,135
  • May 17, 2009 7:55am May 17, 2009 7:55am
Quoting 30XTCi
Dan, I'm sure you meant to say Higher Highs and Higher Lows.
Whenever I see a range of more than 4 bars having a tug of war as we have this week, (6 bars) It shows me that price has run into a powerful object. You may or may not be able to see it, but it's there. Take a look around. Close to a triple top too. (I think)
The main question I have is about your trend line, was there some special reason to start it where you did? I could be missing something. Thanks for your help.

Roy.
Hi Roy, yes, i did mean to say higher highs and higher lows !

And no, i don't think you're missing anything, but fear i might be! My upper trend line is place as a channel top from the swing low in October. I fully admit its significance is minor at best at the moment (although price has touched two or three times since), which is why i am waiting to see if price finds support off it, at which point there comes a reason for it being there, if price smashes back through it - then its useless.

I'm new to drawing TLs for this very reason, whenever i have used them in the past i can always make them fit what i want to see, so its an artform i'm learning to use, and i certainly don't have it cracked.

That almost triple top is just below 0.7720 which was S/R back in September 2008 - is that the thing i'm missing?

Thanks for your feedback - keep it comin'!

Dan
  • #3,136
  • May 17, 2009 9:01am May 17, 2009 9:01am
Quoting AstonDan
Hi Roy, yes, i did mean to say higher highs and higher lows !

And no, i don't think you're missing anything, but fear i might be! My upper trend line is place as a channel top from the swing low in October. I fully admit its significance is minor at best at the moment (although price has touched two or three times since), which is why i am waiting to see if price finds support off it, at which point there comes a reason for it being there, if price smashes back through it - then its useless.

I'm new to drawing TLs for this very reason,...
Hi Dan, When it comes to this analysis stuff, it does my head in. Would you believe I have just watched those basic candlestick videos on page, 112. I learned those about 3 years ago and have done my best since then to forget them!!

Now I see they actually do mean something!

If I remember right, strat wanted us to use swing highs/lows for starting points. Then said if it makes sense to you it's OK. I dunno.
I spent 2 hrs this morning looking over the Eur/Usd and had everything ready to post, and then remembered we were asked to do that after we had seen the set up and got in. So waste of time.
What I have realised is I need to be more organised, need some kind of template and tick the boxes as I'm going through the time frames. In the past I've only concentrated on one or two currencies, but I see now doing this daily I might have to watch 10 or more. Three time frames x 10 currencies is a lot for me to think about.


Nope, that's not what I see.

Roy
Polishing my crystal ball
  • #3,137
  • May 17, 2009 11:53am May 17, 2009 11:53am
Quote
In the past I've only concentrated on one or two currencies, but I see now doing this daily I might have to watch 10 or more. Three time frames x 10 currencies is a lot for me to think about.

Only 1 bar a day per pair, I guess it just takes some time to watch and get to know the pairs a little. Maybe draw some S/R lines and pull some fibs. But after that its not too hard. You will get used to it and then its a relief!

Great job Roy, keep on making progress.
Bang.
  • #3,138
  • May 17, 2009 12:15pm May 17, 2009 12:15pm
Quoting Lotuselanman
Strat - please note 'Not Me!'

Monthly is showing a degree of consolidation since the SH in December 08 at 0.95670 (close) which came after a long rise from August 07 at 0.6740 (close)....
BIG BOSS could be some sort of bull flag or pennant but definitely wild over the last few months.

BOSS is sideways in a pennant holding support

WORKER is at interesting support level - watch for PA to see if she holds or....................
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,139
  • May 17, 2009 12:18pm May 17, 2009 12:18pm
Quoting AstonDan
Morning G,

I agree mostly. To my eyes, a lot of pairs are showing a lot of conflicting signals in terms of PA, S/R and TLs.

One i have my eye on is AUDUSD (daily chart below). The big boss is showing a series of HH, LL, as is the boss. While last weeks bar has retraced to 61 Fib of the previous week, overall trend is still up.

To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL can prove itself as support,...
Apart from the LL should be HL, agree with your analysis and wait for PA to give us the signal.

My key level is 0.78500 at which there will be some profit taking before going higher as she is packing some pretty good bull energy just now.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,140
  • May 17, 2009 12:32pm May 17, 2009 12:32pm
Quoting AstonDan
Morning G,

To my mind, it gets a little more interesting on the daily, where price broke through an upper TL which has been resistance since October 2008. It might have printed a BEEB on Friday but if the TL can prove itself as support, i will be looking for PA to go long.

Unfortunately there is a key level not far above at 0.79500, so if price does go, i would expect it to stall here.

Attachment
Hello Dan, interesting about the TL which I didn't have on my chart. Now I've put it in I find that the candles for Thursday and Friday have already broken down through that TL. So on my chart at any rate, it is not acting as support. Different feeds?

Quoting AstonDan
Hi LEM, i like your charts and you obviously put a lot of time into your analysis.

I don't like a short on EURGBP as i just think there's too much support just below where it is now - 0.8800, 0.8750, 0.8725.

As i said to Baba G, to my eyes theres a lot of conflicting info on the charts at the moment and its a good time to practice patience.

Keep it up LEM.

Dan
As I said, I wouldn't take it as a trade but I didn't think the support below was particularly strong. But too short term for me and the R:R too small.

Just an idea, that's all. Thanks for the encouragement.
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