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  • #101,161
  • May 26, 2009 11:27pm May 26, 2009 11:27pm
Quoting Galatasaray
If I can see a close below 1.3960 by 06:00 GMT than i will consider shorting the pair. What do you think guys?
Dunno. I guess it depends on your money management. Why 3960? The 100SMA is at 3962 on the 15min. Myself, I'll be looking for a bar to open and close below that and make a strong move below the triangle on my 30min chart before I consider going short.
  • #101,162
  • May 26, 2009 11:27pm May 26, 2009 11:27pm
Quoting bagoomba
I think we could hit 4150 first, but then we'll be back down. There's an ascending wedge on the 4hr chart. That is ultimately bearish, but we have a triangle breakout to work through to the upside on the 30min chart.

3740 seems very reasonable given that it's above the 50% fib of the 12/18 high.
This is what my chart is telling me: If either of the lines break.. that will be the direction. So, no clear direction right this minute.
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  • #101,163
  • May 26, 2009 11:35pm May 26, 2009 11:35pm
Quoting bagoomba
Dunno. I guess it depends on your money management. Why 3960? The 100SMA is at 3962 on the 15min. Myself, I'll be looking for a bar to open and close below that and make a strong move below the triangle on my 30min chart before I consider going short.
Hey there.
Here is why. the 4H and daily graphs are in an uptrend but they might retrace before possibly resuming up. here is my 1H ema chart below. I am expecting the pair to go to the yellow 100 EMA if it breaks and opens below the white 50 EMA and than possibly hit the lower trend line of the 4H uptrend.
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  • #101,164
  • May 26, 2009 11:38pm May 26, 2009 11:38pm
On the other hand, a hourly close around 1.4000 could possibly take us towards 1.4065... The median of my 4H chart above.
  • #101,165
  • May 26, 2009 11:39pm May 26, 2009 11:39pm
Does anybody know if it is possible to view DAX and FTSE (and other) stock indexes on metatrader 4?
If yes, how can i get them and how can i install them?
(mybe this is a question for my broker)
  • #101,166
  • May 26, 2009 11:42pm May 26, 2009 11:42pm
Quoting Turtle4x
Does anybody know if it is possible to view DAX and FTSE (and other) stock indexes on metatrader 4?
If yes, how can i get them and how can i install them?
(mybe this is a question for my broker)
I know there are custom data indicators available. My broker makes one available to pull in external data. But you've gotta get a feed from somewhere first. Have you looked on MQL4.com?
  • #101,167
  • May 26, 2009 11:50pm May 26, 2009 11:50pm
Quoting Galatasaray
Hey there.
Here is why. the 4H and daily graphs are in an uptrend but they might retrace before possibly resuming up. here is my 1H ema chart below. I am expecting the pair to go to the yellow 100 EMA if it breaks and opens below the white 50 EMA and than possibly hit the lower trend line of the 4H uptrend.
OK, I see what you're saying. Here's how I read those charts...

I see the uptrend on the 4hr chart. I'd argue that it's actually a wedge that will ultimately break down but it's impossible to say how much farther up it will go first.

Even if you believe it will break down, you're already pretty close to the bottom of the channel, so haven't you kinda missed the move already? I'd be tempted to wait for a bounce off the bottom.

Now, I would be tempted to put a short stop order in around 3890- which would be a pretty significant break below the channel bottom. But otherwise, I'm content to let the market tell me where it's gonna go and I'll follow.

My 2 cents.
  • #101,168
  • May 26, 2009 11:59pm May 26, 2009 11:59pm
Quoting bagoomba
OK, I see what you're saying....
hey there again. I never feel comfortable shorting the pair unless my 1H RSI has also turned bearish. I try to catch up the new forming trends weather they are daily or hourly. As you can see the white line (50EMA) has been acting as a nice support so far in the session. When it breaks down this line, it usually visits the 100EMA unless it has room to do so in 4H and daily charts, also the pair should not be oversold or overbought.
That's why I will be waiting for the close below.
However on the other hand my new 4H bar is about to form and this will give me room until 1.3935, which is about 15 pips higher than the 100 EMA.
so the reward of entering this trade (if it raises because for now the 50 EMA is still holding) will be around 25 pips.
I am still willing to take the order for 25 pips.

A better scenario could be that the pair closes below the yellow EMA around 1.3910 by 10:00 GMT(thats when my new 4h bar forms) and than that could be a very very good short order and we could see as low as 1.3820
  • #101,169
  • May 27, 2009 12:01am May 27, 2009 12:01am
Quoting bagoomba
I know there are custom data indicators available. My broker makes one available to pull in external data. But you've gotta get a feed from somewhere first. Have you looked on MQL4.com?
thanks
  • #101,170
  • May 27, 2009 12:02am May 27, 2009 12:02am
I am waiting for Long position.
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  • #101,171
  • May 27, 2009 12:02am May 27, 2009 12:02am
does anyone trade on another pair beside eur-usd ?
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #101,172
  • May 27, 2009 12:03am May 27, 2009 12:03am
Quoting Eva
I am waiting for Long position.
i am waiting the same train .. eva
just waiting conformation
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #101,173
  • May 27, 2009 12:05am May 27, 2009 12:05am
Quoting bagoomba
OK, I see what you're saying. Here's how I read those charts...

I see the uptrend on the 4hr chart. I'd argue that it's actually a wedge that will ultimately break down but it's impossible to say how much farther up it will go first.

Even if you believe it will break down, you're already pretty close to the bottom of the channel, so haven't you kinda missed the move already? I'd be tempted to wait for a bounce off the bottom.

Now, I would be tempted to put a short stop order in around 3890- which would be a pretty significant break below the...
I am with uptrend for the top again to initiate the down movement but they are all part of bullish set up. up C now & then D down considerably .
I long this good morning trade.may reach about 1.4007-20, even 44 if not so hurry finish the bull set up & UP with minimum retracement.
fontu
G morning all.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #101,174
  • May 27, 2009 12:08am May 27, 2009 12:08am
Quoting gatorinla
got a question.. in your earlier analyis with wicks.. were you able to incorporate the 100 sma 15m that he mentioned as a sl in your analysis? if not could you?
Can't do it on a 100 sma for 15 mins - don't have the data.

I can do it for the 100 sma for 1h, but you gotta give me the rule.
  • #101,175
  • May 27, 2009 12:08am May 27, 2009 12:08am
Expecting a close around 1.4000 to go long.
  • #101,176
  • May 27, 2009 12:10am May 27, 2009 12:10am
be careful going long at the moment guys.
a break and a close above the current channel might be a good place to go long though. but not as long as it is inside the channel and right below the channel line.
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  • #101,177
  • May 27, 2009 12:21am May 27, 2009 12:21am
am i the only passenger with a bearish ticket
and waiting the train ?
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #101,178
  • May 27, 2009 12:24am May 27, 2009 12:24am
...there are not many trains in sight at the moment. still waiting to decide which way to go...

Quoting negro wolf
am i the only passenger with a bearish ticket
and waiting the train ?
  • #101,179
  • May 27, 2009 12:25am May 27, 2009 12:25am
Quoting negro wolf
am i the only passenger with a bearish ticket
and waiting the train ?
If your stop loss is at 1.4000 or above, it is a lottery ticket. i.e. Lose less win more.
The Thief of Wall Street
  • #101,180
  • May 27, 2009 12:26am May 27, 2009 12:26am
there are many , windsor brokers (that the one i know)
Winning isn't Everything...Winning is THE ONLY THING
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