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EURUSD

  • #129,181
  • Aug 7, 2009 4:14am Aug 7, 2009 4:14am
this is what i am watching
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  • #129,182
  • Aug 7, 2009 4:16am Aug 7, 2009 4:16am
Quoting SWTRADE
you've just confused me. I'm very bearish at the moment. The pitchfork looks right, but there is something wrong with it, i'm not sure what it is though.

I'm expecting germanys' numbers in about an hour to dislodge this retracement to the downside. Are their any good books out there on the use of andrews pitchfork?
Don't know about books, but a nice introduction can be found on investopedia

I'm not married with that green fork nor with my position. In fact, I'd love to see a deeper retracement (to about the 50% or the medianline of the larger blue fork), which would fit with my tracks on the daily charts I posted yesterday. But for now I see an upsloping track so I'm long.
  • #129,183
  • Aug 7, 2009 4:17am Aug 7, 2009 4:17am
Anyone else use fib fans here? I'm looking for a move to approx. 1.4276. 38.2% retracement of standard fibs, and 50% of fib fans. Giving a estimated time of the end of trade today.

Edit: This is the 2H graph just incase anyone was wondering
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  • #129,184
  • Aug 7, 2009 4:21am Aug 7, 2009 4:21am
Quoting Hell7
The ones I'm tracking on the hourly chart. Guess what position I'm in
I also had the innner track you have drawn on the hourly and used it yesterady to find support, and to hold late long position off the bottom yesterady with TP at daily pivot early this a.m., but I am now watching a larger track.
  • #129,185
  • Aug 7, 2009 4:23am Aug 7, 2009 4:23am
yesterday i thought market will sink upto 1.3000 and didnt cut my position and in morning found market never reached therei shud have took good profit.hard luck
  • #129,186
  • Aug 7, 2009 4:24am Aug 7, 2009 4:24am
Quoting SWTRADE
Anyone else use fib fans here? I'm looking for a move to approx. 1.4276. 38.2% retracement of standard fibs, and 50% of fib fans. Giving a estimated time of the end of trade today.
Yes, it helps picks extremes, and I have it as backup when market is behaving skewed.
  • #129,187
  • Aug 7, 2009 4:24am Aug 7, 2009 4:24am
Quoting Hell7
Indeed, always good to see someone elses view of the market....snip....
This (to me) is one of the good things about this business.....we all see the same things in different ways. To a degree, it makes no difference who is right and who is wrong, it's just interesting how we interpret the same data differently!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #129,188
  • Aug 7, 2009 4:28am Aug 7, 2009 4:28am
Quoting Atlast
I also had the innner track you have drawn on the hourly and used it yesterady to find support, and to hold late long position off the bottom yesterady with TP at daily pivot early this a.m., but I am now watching a larger track.
Care to post a chart? You posted a 15-min one but I can't remember a recent bigger one.
  • #129,189
  • Aug 7, 2009 4:34am Aug 7, 2009 4:34am
Quoting SWTRADE
Anyone else use fib fans here? I'm looking for a move to approx. 1.4276. 38.2% retracement of standard fibs, and 50% of fib fans. Giving a estimated time of the end of trade today.

Edit: This is the 2H graph just incase anyone was wondering
Just to back up that number, i've had a look at the daily chart, where the 10 period MA is at 1.4271. We normally get a bounce / close of candle body / support & resistance at this point.

I'm undecided as yet wether this will be the pivot for a further push higher, or a consolidation area.
  • #129,190
  • Aug 7, 2009 4:54am Aug 7, 2009 4:54am
With this very prolongued range in EURUSD, I am sure that we have lots of stops above 1.4447 and also some decent stops below 1.4326.

I think smart guys might be tempted to trigger those stops on the news. So you could have a false move first, and only after that a real direction in the market. It's just an hypotesis, because 1.4447 looks a bit too high to be possible to reach it just on a false move.
  • #129,191
  • Aug 7, 2009 5:00am Aug 7, 2009 5:00am
Quoting Hell7
Care to post a chart? You posted a 15-min one but I can't remember a recent bigger one.
My last 60 min chart showed the market successfully retesting a breakout of upper line. This is now new track I am using.
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  • #129,192
  • Aug 7, 2009 5:03am Aug 7, 2009 5:03am
Quoting coldrecs
With this very prolongued range in EURUSD, I am sure that we have lots of stops above 1.4447 and also some decent stops below 1.4326.

I think smart guys might be tempted to trigger those stops on the news. So you could have a false move first, and only after that a real direction in the market. It's just an hypotesis, because 1.4447 looks a bit too high to be possible to reach it just on a false move.
very well said...
  • #129,193
  • Aug 7, 2009 5:16am Aug 7, 2009 5:16am
Quoting Atlast
My last 60 min chart showed the market successfully retesting a breakout of upper line. This is now new track I am using.
Just looked at it and I feel it fits better if you move the upper point 1 top back (the one from the 27th instead of the 28th). Maybe you can have a look at that? You'll see several nice touches
  • #129,194
  • Aug 7, 2009 5:19am Aug 7, 2009 5:19am
Quoting coldrecs
With this very prolongued range in EURUSD, I am sure that we have lots of stops above 1.4447 and also some decent stops below 1.4326.

I think smart guys might be tempted to trigger those stops on the news.
I am guessing that we see a lot of stops at 1.4300 to be hit.
  • #129,195
  • Aug 7, 2009 5:26am Aug 7, 2009 5:26am
Hello everybody. I hope that will move with the next news and the US opening ...
"I will walk before they make me run" K.Richards
  • #129,196
  • Aug 7, 2009 5:27am Aug 7, 2009 5:27am
Quoting Hell7
Just looked at it and I feel it fits better if you move the upper point 1 top back (the one from the 27th instead of the 28th). Maybe you can have a look at that? You'll see several nice touches
It does.
  • #129,197
  • Aug 7, 2009 5:28am Aug 7, 2009 5:28am
looks like we have another two hour wait before anything happens. I was kind of wishing that the german numbers would affect it more than that.
  • #129,198
  • Aug 7, 2009 5:34am Aug 7, 2009 5:34am
Quoting moosley
planning a long trg 43 daytrade. shorters here? why?


another gain 4me...
  • #129,199
  • Aug 7, 2009 5:34am Aug 7, 2009 5:34am
Hi

Just wanted to say hi. Been lurking for a few days but I thought I would introduce myself.

Still a very much a noob, 3 months demo and 2 months live. About 3% up on my account but still early doors. Plenty of time to give it away

Heard a rumour from a friend in the city that whispers are circulating that the nfp number could be as good as -200,000 to-250,000.

Well we will see in a couple of hours.
  • #129,200
  • Aug 7, 2009 5:35am Aug 7, 2009 5:35am
Quoting SWTRADE
looks like we have another two hour wait before anything happens. I was kind of wishing that the german numbers would affect it more than that.
Maybe less with the news from CAD in 25" ...
"I will walk before they make me run" K.Richards
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