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  • #97,281
  • May 18, 2009 4:53pm May 18, 2009 4:53pm
Quoting fxstman
Yes, It is a head and shoulders pattern turned upside down. . If your still learning (then it will help to search and learn chart patterns.
As any head and shoulders are reversal patterns no matter which way they form, an inverted would be a reversal of a drop rather than a climb up...

Can you either show this on your chart, or indicate where it is that you think the current "reversal" you refer to on a daily chart would be from if it completes...?

I'm having trouble seeing it...
FUBAR...
  • #97,282
  • May 18, 2009 4:54pm May 18, 2009 4:54pm
Quoting fxstman
Yes, It is a head and shoulders pattern turned upside down. Also known as the ghost pattern. You can google it. If your still learning (we all are, all the time. thats the forex.) then it will help to search and learn chart patterns.

good luck

fxst
I picked up a few books on technical/charting this weekend....i better get busy reading! Good lucks and lots of pips to you too
  • #97,283
  • May 18, 2009 5:16pm May 18, 2009 5:16pm
Quoting ak4x
As any head and shoulders are reversal patterns no matter which way they form, an inverted would be a reversal of a drop rather than a climb up...

Can you either show this on your chart, or indicate where it is that you think the current "reversal" you refer to on a daily chart would be from if it completes...?

I'm having trouble seeing it...
Sorry it took so long. I'm on the laptop running work orders
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  • #97,284
  • Edited 5:32pm May 18, 2009 5:21pm | Edited 5:32pm
Quoting fxstman
Sorry it took so long. I'm on the laptop running work orders
this has nothing to do with h&s not even close
check the usd/chf H4 chart that is a nice inverted

neckline is being tested as we speak
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #97,285
  • May 18, 2009 5:31pm May 18, 2009 5:31pm
I'm thinking a dip to 3400 followed by a move to 37xx or higher.
  • #97,286
  • May 18, 2009 5:33pm May 18, 2009 5:33pm
Quoting zegakai
I'm thinking a dip to 3400 followed by a move to 37xx or higher.
would you please mind substantiating your comments witch charts...
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #97,287
  • May 18, 2009 5:44pm May 18, 2009 5:44pm
I'm short on 1.3460,
kindly tell me the resistance or tell me can i hold this position?
I'm worry...........
  • #97,288
  • May 18, 2009 5:46pm May 18, 2009 5:46pm
Quoting djambazov84
would you please mind substantiating your comments witch charts...
I'm at work right now so can't post a chart. I had marked 3400 a couple weeks back as a point of interest (I work off 4h and daily charts). 3700 is a major point of resistance.

Also, fundamentally, I feel there's still some strength left in the current bear market rally that has people moving out of dollars and the news coming out of germany supports a deflationary view on the euro. I'm looking for a dip in the Asian trading session to enter long.

I realize these are my first posts here so people are sure to take them with a grain of salt. I welcome commentary and discussion to improve my own trading. I've mostly traded crosses.
  • #97,289
  • May 18, 2009 5:54pm May 18, 2009 5:54pm
Quoting zegakai
I'm thinking a dip to 3400 followed by a move to 37xx or higher.
Bold first post. For those of us that need visual clues (you know the tards in the back) try something like this
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  • #97,290
  • May 18, 2009 5:57pm May 18, 2009 5:57pm
Quoting knuckledrag
Bold first post. For those of us on that need visual clues (you know the tards in the back) try something like this

So you like the 61.8 line better? I considered it but my thoughts on the fundamentals don't match because at that point, I would seriously have to consider a more bearish scenario. But then again, I don't have problems admitting when I'm wrong.
  • #97,291
  • May 18, 2009 6:05pm May 18, 2009 6:05pm
Quoting zegakai
So you like the 61.8 line better? I considered it but my thoughts on the fundamentals don't match because at that point, I would seriously have to consider a more bearish scenario. But then again, I don't have problems admitting when I'm wrong.
Let me ask my wife---- Nope I don't have a problem being wrong either.
  • #97,292
  • May 18, 2009 6:13pm May 18, 2009 6:13pm
Quoting zegakai
So you like the 61.8 line better? I considered it but my thoughts on the fundamentals don't match because at that point, I would seriously have to consider a more bearish scenario. But then again, I don't have problems admitting when I'm wrong.
It's not to the pip, but you can spit on it and swell the crack shut. To me it requires a larger retrace. We could also see a retest or a break, but I can only play what I see.
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  • #97,293
  • May 18, 2009 6:45pm May 18, 2009 6:45pm
Looking a bit further ahead, if we can get a break of 1.3650, a decent break I mean, I think we may see 1.3880 and above. But, if we can't get past the current 1.3550ish resistance, I can see us going back to 1.3440ish.

Does that make sense?
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #97,294
  • May 18, 2009 6:49pm May 18, 2009 6:49pm
555 is strong resistance

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history levels GBPUSD

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  • #97,295
  • May 18, 2009 7:23pm May 18, 2009 7:23pm
This time is sooo sloooow.....it makes me sleeeeepy and fall asszzzzzzzz.....
  • #97,296
  • May 18, 2009 7:25pm May 18, 2009 7:25pm
Pivots for today from 5pm

Central same as M3 pivot... strong S/R unless breached and cleared one way or the other.. Bias down to at least the DP following the most recent run up.

Beyond that... who knows.
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FUBAR...
  • #97,297
  • May 18, 2009 7:27pm May 18, 2009 7:27pm
Quoting errich fx
555 is strong resistance

Yes it is, and I really don't see it being being broken for the time being
Doing what you like is Freedom. Liking what you do is Happiness.
  • #97,298
  • May 18, 2009 7:37pm May 18, 2009 7:37pm
hola! Are we heading back down to 1.35XX? No big news until later in the London session.
  • #97,299
  • May 18, 2009 7:41pm May 18, 2009 7:41pm
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The attack actually began Friday evening, but until this morning we were able to fend it off with limited interruption to the website....
http://blog.forexfactory.com/

This is why I have Zero patience and Zero Tolerance for scumball posters, many of whom get pi$$ed off when they get banned and attempt to return later under a different username, and some of whom may potentially have the technical resources or connections to either initiate something like this... or at the minimum be involved in it, even if only by association.

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You can take that to the CB of your choice.
FUBAR...
  • #97,300
  • May 18, 2009 7:41pm May 18, 2009 7:41pm
....another H&S forming (on 15M) with neckline @ 0.3530...? I am short from there with a wee bit....
"If The Fool persists in his Folly he will become wise." - William Blake
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