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  • #7,701
  • Nov 17, 2009 4:16pm Nov 17, 2009 4:16pm
Quoting strat
It's all in the red, white and blue (and green)
damm my chart doesnt have a shooting star...so i will skip....


Remember: trade your own charts
  • #7,702
  • Nov 17, 2009 4:23pm Nov 17, 2009 4:23pm
Quoting strat
Watch this space - I think you'll get the point!
Hmm - been watching this for a few weeks now too. Pennant forming but is it a continuation pattern or was the high a lower high from the high back in Aug 09? The MAs are all flat so there could be an explosive move but I hate gbpyen so I'm just going to watch the 'beast' and learn.
Trade less and become more profitable!
  • #7,703
  • Nov 17, 2009 4:25pm Nov 17, 2009 4:25pm
Quoting TheFutureAce
damm my chart doesnt have a shooting star...so i will skip....


Remember: trade your own charts
Neither does mine!
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,704
  • Nov 17, 2009 4:25pm Nov 17, 2009 4:25pm
Quoting Grimweasel
Hmm - been watching this for a few weeks now too. Pennant forming but is it a continuation pattern or was the high a lower high from the high back in Aug 09? The MAs are all flat so there could be an explosive move but I hate gbpyen so I'm just going to watch the 'beast' and learn.
Same here. I'll let it break first, either way, then will try to enter the new trend.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,705
  • Nov 17, 2009 4:32pm Nov 17, 2009 4:32pm
Quoting soso
Same here. I'll let it break first, either way, then will try to enter the new trend.
Watch out for Dolly Partons though - the big boys LOVE stop runs on this pair.
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,706
  • Nov 17, 2009 4:34pm Nov 17, 2009 4:34pm
Quoting strat
Watch this space - I think you'll get the point!
That's what happens when supply and demand are converging. A big move is imminent. Shall we expect the MMs to clear the table before the big move?
  • #7,707
  • Nov 17, 2009 4:47pm Nov 17, 2009 4:47pm
This pair cannot keep a secret to save her life!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 31 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,708
  • Edited 5:10pm Nov 17, 2009 4:53pm | Edited 5:10pm
Quoting Grimweasel
Hmm - been watching this for a few weeks now too. Pennant forming but is it a continuation pattern or was the high a lower high from the high back in Aug 09? The MAs are all flat so there could be an explosive move but I hate gbpyen so I'm just going to watch the 'beast' and learn.
For me, the technical play is to treat that as a continuation pattern, so well coiled as to give a good R/R and a targeted exit if one enters inside the coil on appropriate PA. You knew that already though!!
  • #7,709
  • Nov 17, 2009 5:00pm Nov 17, 2009 5:00pm
Quoting Alexandra
For me, the technical play is to treat that as a continuation pattern, so well coiled as to give a good R/R and a targeted exit if one enters inside the coil on appropriate PA. You knew that already though!!
Here then, Alexandra's Technical Play
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 33 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,710
  • Nov 17, 2009 5:06pm Nov 17, 2009 5:06pm
What if it's NOT a continuation pattern?

What if it is a continuation pattern BUT the pattern doesn't hold?

What if we can't see the moon?

What if Uranus makes a loud noise?

What if...............................?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 34 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,711
  • Nov 17, 2009 5:08pm Nov 17, 2009 5:08pm
Quoting strat
This pair cannot keep a secret to save her life!
Hello, i was going to post the exact same chart . A nice formation of shooting star.

Also can you please tell m how to attach a chart to a private message?

thanks
  • #7,712
  • Nov 17, 2009 5:13pm Nov 17, 2009 5:13pm
Quoting TheFutureAce
Hello, i was going to post the exact same chart . A nice formation of shooting star.

Also can you please tell m how to attach a chart to a private message?

thanks
FF does not have the facilities for attaching charts to PMs

Go ahead and post here - there are no secrets

Where do you see a Shooting Star on the USDCAD chart I posted?
15 YEARS OF PASR ON FOREX FACTORY!
  • #7,713
  • Nov 17, 2009 5:15pm Nov 17, 2009 5:15pm
Quoting strat
What if it's NOT a continuation pattern?

What if it is a continuation pattern BUT the pattern doesn't hold?

What if we can't see the moon?

What if Uranus makes a loud noise?

What if...............................?
Indeed, one graduates when one can handle the "what if" and survive. Our dear friend, having paid the same tuition as I, knows that odds favor this as a continuation pattern, however. Enough hypothesis for me to enter under the current economic climate.

Nothing wrong, however, with trading the breakout if one is either well prepared - or perhaps alert to a brief re-test. Fortunes have been made on that play too; the whipsaw, however, may be too much to tolerate, as Strat points out.
  • #7,714
  • Nov 17, 2009 5:32pm Nov 17, 2009 5:32pm
Quoting strat
Watch this space - I think you'll get the point!
I am watching weekly, not daily, on this one. In 2009, whenever weekly closed above/below 150, the price went to next SR, so why different this time? No need to guesswork here, IMO, as always.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-WEEKLY.jpg Size: 141 KB
  • #7,715
  • Edited 6:12pm Nov 17, 2009 5:35pm | Edited 6:12pm
Quoting Blackeagle
I am watching weekly, not daily, on this one. In 2009, whenever weekly closed above/below 150, the price went to next SR, so why different this time? No need to guesswork here, IMO, as always.

I like that point and it is, indeed, a good debate - and perhaps a reason for the current coil. My view sees the weekly candles as bullish/consolidative. The counter view may carry the day, but perhaps both sides can grab their piece of the pie. LOL - so the current 150.04 counts if it closes there!
  • #7,716
  • Nov 17, 2009 5:46pm Nov 17, 2009 5:46pm
If you are considering to trade GBP, we have much better looking cross.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf-daily.jpg Size: 99 KB
  • #7,717
  • Nov 17, 2009 6:04pm Nov 17, 2009 6:04pm
The ones who wonder why EURUSD has been trading in 1.4800-1.5100 range since Nov. 5th, this news from Reuters may be your answer:

"It was in the middle of the $1.48-$1.51 range which traders say marks a large "double-no-touch" options structure that rolls off on Friday.".
  • #7,718
  • Nov 17, 2009 6:15pm Nov 17, 2009 6:15pm
Quoting strat
FF does not have the facilities for attaching charts to PMs

Go ahead and post here - there are no secrets

Where do you see a Shooting Star on the USDCAD chart I posted?

attached. Please correct me if I am wrong. The star is not when the currency is uptrend.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_weekly.gif Size: 16 KB
  • #7,719
  • Nov 17, 2009 6:35pm Nov 17, 2009 6:35pm
Quoting TheFutureAce
attached. Please correct me if I am wrong. The star is not when the currency is uptrend.
Hi Shooting Stars occur after a buying climax.
  • #7,720
  • Nov 17, 2009 6:41pm Nov 17, 2009 6:41pm
Quoting Donadoney
Hi Shooting Stars occur after a buying climax.

true. i m just starting. So i am interested in recognizing shooting stars and hammers anywhere possible
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