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EURUSD Charts

  • #61
  • Oct 6, 2009 8:24pm Oct 6, 2009 8:24pm
Bunch of charts for you guys.

Stochastics are SLOW

15,5,5
22,5,11


1. 1H divergence and pitchfork
2. 4Hr divergence and pitchfork
3. Daily divergence
4. Weekly divergence
5. Monthly Trendlines
6. Another

I posted the black pictures on other threads before, but 1.4750 should be heavy resistance on the monthly. If we close a month above this level, it could get scary for shorts. If you believe in trendlines and slow stochs/divergence one could make a relatively low risk/reward play with stops above 1.4880 or so.

I'm still heavily short biased with 1st target around 1.4440 and 1.4380. But we could see 1.4180 before another leg up in the new year. Let me know what you think.
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  • #62
  • Oct 6, 2009 8:38pm Oct 6, 2009 8:38pm
Quoting Chicky
Real, I liked these "angular fibs". Is this something you came up with or a tool that is widely in use?

Ps. I am not a very technical person (therefore please don't laugh if I am wrong) but seems something like Stochastic oscilator. Maybe very useful for JPY crosses and major.
It's nothing too technical Chicky, it's (more or less) just a pitchfork. I just draw the upper trendline at it's highest point, then duplicate the line and move it to lowest point of either the next, or the previous wave. Then I draw a fib between the two, using only the 50% line. Lastly I duplicate the upper trendline and place it where the 50% mark is between the two points. In it's 'raw' form it looks like this chart. They are not always accurate, but surprisingly often they work
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #63
  • Oct 6, 2009 8:58pm Oct 6, 2009 8:58pm
Quoting realjumper
It's nothing too technical Chicky, it's (more or less) just a pitchfork. I just draw the upper trendline at it's highest point, then duplicate the line and move it to lowest point of either the next, or the previous wave. Then I draw a fib between the two, using only the 50% line. Lastly I duplicate the upper trendline and place it where the 50% mark is between the two points. In it's 'raw' form it looks like this chart. They are not always accurate, but surprisingly often they work
Not the fib part, but I do duplicate a trend line. When looking for the right place to put that duplicate line, I check the left side of the chart (history) to ground my duplicate line. If it fits crossing right through the middle of agnular (diagonal) supports and resistances, nothing like that.

Not a perfect example, as this is not a duplicate line, but kindly note how this double imaginary trend line passes throgh supports and resistances. This time there was a gap between these supports and resistances therefore drew two. Coincidently price stalled right in the middle of these two lines.

http://cdn.forexfactory.com/attachme...1&d=1254842525
The Thief of Wall Street
  • #64
  • Oct 6, 2009 9:08pm Oct 6, 2009 9:08pm
Quoting Chicky
Not a perfect example, as this is not a duplicate line, but kindly note how this double imaginary trend line passes throgh supports and resistances. This time there was a gap between these supports and resistances therefore drew two. Coincidently price stalled right in the middle of these two lines.
Yes I see what you mean. It's very interesting.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #65
  • Oct 6, 2009 9:27pm Oct 6, 2009 9:27pm
A triangle on 5 minute chart.

Some use these triangles to place entry orders and/or to finetune their stoplosses.

A break of these triangles may result in a bigger move.

ps. Oooops! It broke before my clicking.
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The Thief of Wall Street
  • #66
  • Oct 6, 2009 11:47pm Oct 6, 2009 11:47pm
We are in an interesting situation.

This purple line used to be Monthly resistance, now support.
I cannot say if pa will breach this line once again or not.
However, if it wants to test 1.4500 once again, will have to penetrate this line.
Attached Image
The Thief of Wall Street
  • #67
  • Oct 7, 2009 12:42am Oct 7, 2009 12:42am
Just making a note so I subscribe and get the updates. I look forward to participating.
Not all sins are created equal
  • #68
  • Oct 7, 2009 12:47am Oct 7, 2009 12:47am
Some great charts, lines and ideas!
  • #69
  • Oct 7, 2009 1:06am Oct 7, 2009 1:06am
Quoting Chicky
We are in an interesting situation.

This purple line used to be Monthly resistance, now support.
I cannot say if pa will breach this line once again or not.
However, if it wants to test 1.4500 once again, will have to penetrate this line.
Hi Chicky,
As you said, you cannot say whether the price will breach the trend line again.
Have you found that trend lines on Monthly charts are respected/useful?

EDIT: I'm just curious, because I find the monthly charts to be quite odd looking and difficult to make sense of myself
  • #70
  • Oct 7, 2009 1:24am Oct 7, 2009 1:24am
Quoting dreeamer
Hi Chicky,
As you said, you cannot say whether the price will breach the trend line again.
Have you found that trend lines on Monthly charts are respected/useful?

EDIT: I'm just curious, because I find the monthly charts to be quite odd looking and difficult to make sense of myself
Monthy trend lines are supposed to be very strong, but it is not that they do not break.
The Thief of Wall Street
  • #71
  • Oct 7, 2009 1:25am Oct 7, 2009 1:25am
It has broken a trend line to the north

ps. it looks 1.4700 is holdiing strong
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The Thief of Wall Street
  • #72
  • Oct 7, 2009 1:30am Oct 7, 2009 1:30am
Quoting Jay Walker
Just making a note so I subscribe and get the updates. I look forward to participating.
Thanks Jay.
The Thief of Wall Street
  • #73
  • Oct 7, 2009 1:31am Oct 7, 2009 1:31am
What is the time frame of that latest graph?
  • #74
  • Oct 7, 2009 1:48am Oct 7, 2009 1:48am
Quoting MoreYummy
What is the time frame of that latest graph?
Hourly (1H)
The Thief of Wall Street
  • #75
  • Oct 7, 2009 2:24am Oct 7, 2009 2:24am
We just bounced off from a trend line. Let's see where it goes now.

ps. This trend liine is not perfect - ignores NFP spike
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The Thief of Wall Street
  • #76
  • Oct 7, 2009 2:32am Oct 7, 2009 2:32am
This is how I look at at it. Still anybody's game.
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The Thief of Wall Street
  • #77
  • Oct 7, 2009 3:09am Oct 7, 2009 3:09am
Quoting dreeamer
Some great charts, lines and ideas!
Thanks dreeamer. Will wait for your contribution.
The Thief of Wall Street
  • #78
  • Oct 7, 2009 3:35am Oct 7, 2009 3:35am
Our position on Daily chart.
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The Thief of Wall Street
  • #79
  • Oct 7, 2009 7:07am Oct 7, 2009 7:07am
PA has broken bottom of inner channel.

Some traders wait for a new trend to form before deciding to take positions.

It is better to lose an opportunity than to lose money.
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The Thief of Wall Street
  • #80
  • Oct 7, 2009 7:22am Oct 7, 2009 7:22am
Anything can happen.
This is just a possibility.
Maybe market finds an excuse to re-visit 1.4500 area.
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The Thief of Wall Street
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