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  • #111,041
  • Jun 16, 2009 10:46am Jun 16, 2009 10:46am
The aquamarine triangle is the where I can see EU will find its resistance area.

PM/e-mail me for questions/comments.

HAVE A LOOK AND MAKE YOUR OWN THOUGHT
Attached Image (click to enlarge)
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  • #111,042
  • Jun 16, 2009 10:48am Jun 16, 2009 10:48am
Ali, its possible but I think big players want to sell it higher. So they might break some resistance levels to change traders mindset
  • #111,043
  • Jun 16, 2009 10:50am Jun 16, 2009 10:50am
Quoting vinesh2
Ali, its possible but I think big players want to sell it higher. So they might break some resistance levels to change traders mindset
I second that
Gambling with PA
  • #111,044
  • Jun 16, 2009 10:51am Jun 16, 2009 10:51am
nice H&S on 5m,,,,
Bears are checking in
nick line at 3860
  • #111,045
  • Jun 16, 2009 11:08am Jun 16, 2009 11:08am
Hmmm, now where should I go long or should I wait. R1 not yet reached today.
Momentum shown for a bit of fun, and for whomever wishes to incorporate into their trading.
Attached Image
  • #111,046
  • Jun 16, 2009 11:12am Jun 16, 2009 11:12am
Quoting Ice Cube
nice H&S on 5m,,,,
Bears are checking in
nick line at 3860
Take care with the H&S. First they are very rare. Second we need a full candle under the neckline to confirm it. Often we make confusion between reality and anticipation and I'm the first in this case.
"I will walk before they make me run" K.Richards
  • #111,047
  • Jun 16, 2009 11:16am Jun 16, 2009 11:16am
Quoting Jm4x
Take care with the H&S. First they are very rare. Second we need a full candle under the neckline to confirm it. Often we make confusion between reality and anticipation and I'm the first in this case.
i have a short already,
i was pointing it out to share it.

  • #111,048
  • Jun 16, 2009 11:16am Jun 16, 2009 11:16am
Quoting psiholog
Very interesting perspective...I respect it to the fullest. As all opinions you can be wrong or right..no one knows the future.

.....

As for the news...its all manufactured bs if you ask me. Good example was the jobs data a few weeks ago. For that particular week estimates were for 520k jobs lost max putting unemployment overall at 9.2%. It was reported that 360k jobs were lost but unemployment was 9.4%...higher then if there was 520k jobs lost. It doesn't take a genius to figure out whats wrong with this picture.

Just my 2 cents..its all...
Simple: Corporations play with their numbers as do countries.

At best its a clue to what's happening but you need to have a conspiracy mind set to find that clue.
  • #111,049
  • Jun 16, 2009 11:19am Jun 16, 2009 11:19am
Quoting Atlast
Hmmm, now where should I go long or should I wait. R1 not yet reached today.
Momentum shown for a bit of fun, and for whomever wishes to incorporate into their trading.
if you ask me ,I'm waiting,for me it's too risky to take any position as OBV is insisting (5mn) downward trend,so ....
{Promotion Removed}
  • #111,050
  • Jun 16, 2009 11:21am Jun 16, 2009 11:21am
EU M1: How I see it being traded......
Attached Image (click to enlarge)
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  • #111,051
  • Jun 16, 2009 11:24am Jun 16, 2009 11:24am
Hi,

Looking to be ranging till this 4 hrs bar turns red then it will go up for wave 3. which is 1.4110. 1 hr wave 1 top at 1.3933

just my 2 cents

still learning
  • #111,052
  • Jun 16, 2009 11:24am Jun 16, 2009 11:24am
Quoting vinesh2
Ali, its possible but I think big players want to sell it higher. So they might break some resistance levels to change traders mindset
I wonder what Arthurb thinks. He posts the COT data. I think he may disagree.
  • #111,053
  • Jun 16, 2009 11:29am Jun 16, 2009 11:29am
Follow up. The wait and buy. Risk low and defined.
Attached Image
  • #111,054
  • Jun 16, 2009 11:31am Jun 16, 2009 11:31am
Quoting trendman
if you ask me ,I'm waiting,for me it's too risky to take any position as OBV is insisting (5mn) downward trend,so ....
Good point. Let me share a story. I was trading in lower time frames during Asian session on GBP. I took a short at the wrong time but thought I'd see price retrace to my area so I could at least break even. There was some increase in volume and it reall picked up the other way. My sl got hit and it took me out. I investigated it like a crime scene to determine all my mistakes-there were a FEW. Including the template I was using, anyway-my point is I am now looking at higher timeframes-1hr to 4hr so that I can plan properly and not take hasty trades.

I have doubled my demo accounts three months straight but I am learning a hard lesson with my live one. I am going back to the demo to test my ability on longer time frames.

Be careful! Good pippin!
  • #111,055
  • Jun 16, 2009 11:32am Jun 16, 2009 11:32am
Hi,

This is my Chart
Attached Image (click to enlarge)
Click to Enlarge Name: euro 1 hrly.jpg Size: 91 KB
  • #111,056
  • Jun 16, 2009 11:34am Jun 16, 2009 11:34am
ranging again
  • #111,057
  • Jun 16, 2009 11:35am Jun 16, 2009 11:35am
Quoting Atlast
Follow up. The wait and buy. Risk low and defined.

Oh dear! You've succumbed to the Decorations!
  • #111,058
  • Jun 16, 2009 11:36am Jun 16, 2009 11:36am
Quoting calderone
Good point. Let me share a story. I was trading in lower time frames during Asian session on GBP. I took a short at the wrong time but thought I'd see price retrace to my area so I could at least break even. There was some increase in volume and it reall picked up the other way. My sl got hit and it took me out. I investigated it like a crime scene to determine all my mistakes-there were a FEW. Including the template I was using, anyway-my point is I am now looking at higher timeframes-1hr to 4hr so that I can plan properly and not take hasty trades....

when you trade on any timeframe, you have to draw the broadlines of the higher timeframe, so you don't get mislead.
if you trade 5m, draw 1Hr, 4HR lines on the same chart then reduce timeframe,
i keep 3 charts infront of me 5m 1HR/4HR & 1D, whenever it ticks on one, i try hard to confirm with the other
  • #111,059
  • Jun 16, 2009 11:41am Jun 16, 2009 11:41am
Quoting Ice Cube
when you trade on any timeframe, you have to draw the broadlines of the higher timeframe, so you don't get mislead.
if you trade 5m, draw 1Hr, 4HR lines on the same chart then reduce timeframe,
i keep 3 charts infront of me 5m 1HR/4HR & 1D, whenever it ticks on one, i try hard to confirm with the other
Yes sir, I know better than what I did. I acted in haste and was overcome with greed.

Needless to say, I am going to check and doublecheck

Thanks for the input.
  • #111,060
  • Jun 16, 2009 11:42am Jun 16, 2009 11:42am
Quoting notch
Oh dear! You've succumbed to the Decorations!
Just passing some time. More for the new traders, don't have them on my chart as you know. Intention was to show how to take into account PA (HH/HL,etc) and take into account market momentum before committing to a trade for low risk.
I am waiting for the daily pivot again to position for long. How about yourself?
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