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  • #221
  • Edited 6:46pm Dec 1, 2009 6:44pm | Edited 6:46pm
Quoting jesterx
here is a chart of the USD / CHF

like is said this is a bullish formation so i would expect some weakness in currencies soon.

http://s657.photobucket.com/albums/u...elkhorn/us.jpg
Hi Jesterx,
I looked at the longer term chart on that pair, and I am I seeing there is a little room to head to the down side although it could be forming a double bottom on the weekly chart. So as of now it is downtrending quite nicely on the daily chart.
I am glad to hear this method is working for you keep up the good work!!!

--NM
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf.gif Size: 22 KB
  • #222
  • Dec 1, 2009 6:48pm Dec 1, 2009 6:48pm
Quoting NightMoves
Hi Jesterx,
I looked at the longer term chart on that pair, and I am I seeing there is a little room to head to the down side although it could be forming a double bottom on the weekly chart. So as of now it is downtrending quite nicely on the daily chart.
I am glad to hear this method is working for you keep up the good work!!!

--NM

NM great to see that we are in sync on the possibility that the dollar could go up.

My chart was just shorter term, but the chart you have (expanded) gives even more recognition that we could be in a bottoming process on the dollar.

normally when every man and his dog is bearish on something (i.e. the dollar) its time to go long LOL
  • #223
  • Dec 1, 2009 7:00pm Dec 1, 2009 7:00pm
NM...

is it possible we have a setting up situation in the GBP??
Attached Image (click to enlarge)
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  • #224
  • Dec 1, 2009 7:03pm Dec 1, 2009 7:03pm
Quoting jesterx
NM...

is it possible we have a setting up situation in the GBP??
What pair is that it is hard to read it on the chart?
  • #225
  • Dec 1, 2009 7:05pm Dec 1, 2009 7:05pm
Quoting NightMoves
What pair is that it is hard to read it on the chart?

GBP future, so it would be the GBP / USD pair.
  • #226
  • Dec 1, 2009 7:09pm Dec 1, 2009 7:09pm
Quoting jesterx
GBP future, so it would be the GBP / USD pair.
Ok,
I took a look at the chart in several time frames and I am really not seeing anything on any time frame right now that I would say is a low risk trade anywhere at least not the way I trade, it is pretty wild right now imo.

--NM
  • #227
  • Dec 1, 2009 7:11pm Dec 1, 2009 7:11pm
Quoting NightMoves
Ok,
I took a look at the chart in several time frames and I am really not seeing anything on any time frame right now that I would say is a low risk trade anywhere at least not the way I trade, it is pretty wild right now imo.

--NM

ok thanks for you thoughts on this much appreciated.

im off to run some errands...have yourself a great day.
  • #228
  • Dec 1, 2009 7:17pm Dec 1, 2009 7:17pm
Quoting jesterx
ok thanks for you thoughts on this much appreciated.

im off to run some errands...have yourself a great day.
Ok Jesterx have a good night!!!

--NM
  • #229
  • Dec 1, 2009 8:41pm Dec 1, 2009 8:41pm
Keeping an eye on the E/U looks like we might be headed for another run, the Yen crosses may not be ready to go just yet looks like they might be headed for the next Resistance level.

--NM
  • #230
  • Dec 1, 2009 8:43pm Dec 1, 2009 8:43pm
On the E/U pair we need a BPC just above the 1.5100 then I think we might be in the clear...

--NM
  • #231
  • Dec 1, 2009 8:50pm Dec 1, 2009 8:50pm
The EURJPY looks like it might be headed back to the break out price area.

--NM
Attached Image (click to enlarge)
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  • #232
  • Dec 1, 2009 8:52pm Dec 1, 2009 8:52pm
As long as we do not get too close to that 100 SMA I will still consider the setup valid and still look for a short entry, but if it get playing with that 50 SMA too many times, it is like a cat play with it enough and you get scratched...LOL
  • #233
  • Dec 1, 2009 9:18pm Dec 1, 2009 9:18pm
hey there Night Moves,

Just saw you reply.....i will try and check out the website you recommend.

It is morning at my area now so I will be watching the Asian market closely and see how it develops during the London times....

Are you in the United States?

It would be cool if we are all from different time zone so that we can help each other to monitor the markets. I am basically trading the Asian markets and London markets. We are at GMT +8 so I also get to see a bit of the US market actions when it starts.

Thanks again Night Moves
GP.
  • #234
  • Edited 9:46pm Dec 1, 2009 9:41pm | Edited 9:46pm
Quoting gp75
hey there Night Moves,

Just saw you reply.....i will try and check out the website you recommend.

It is morning at my area now so I will be watching the Asian market closely and see how it develops during the London times....

Are you in the United States?

It would be cool if we are all from different time zone so that we can help each other to monitor the markets. I am basically trading the Asian markets and London markets. We are at GMT +8 so I also get to see a bit of the US market actions when it starts.

Thanks again Night Moves
GP....
Hi GP,

Yes I am in the USA GMT-6 here. I am hoping the E/U takes off again. Yes if you get a chance check out his website that is where I learned this system, alot of information on his site. I have been using it so long now I know it inside and out and it makes me money... I have added a few of my own techniques to it but the basics are the same.

--NM
  • #235
  • Dec 1, 2009 10:53pm Dec 1, 2009 10:53pm
I have an idea the E/U is just going to meander until the ADP comes out tomorrow morning, then it will get wild and if stays in this small range it is in after the London session opens then I may just sit back until after the new release, I do not like to get in the markets an hour before or a couple of hours after the news. And it is pretty typical of this pair to just go sideways until that ADP comes out.

For the most part I think this market is getting immune to news releases but the ADP and the interest rates still make it bounce about 50 pips or so and sometimes in both directions on the same bar.

--NM
  • #236
  • Dec 2, 2009 12:11am Dec 2, 2009 12:11am
Quoting NightMoves
I have an idea the E/U is just going to meander until the ADP comes out tomorrow morning, then it will get wild and if stays in this small range it is in after the London session opens then I may just sit back until after the new release, I do not like to get in the markets an hour before or a couple of hours after the news. And it is pretty typical of this pair to just go sideways until that ADP comes out.

For the most part I think this market is getting immune to news releases but the ADP and the interest rates still make it bounce about 50...
***** just to say hi!
u got ya Hector.
Ypu're brilliant
stock , commodity , bond , forex
  • #237
  • Edited 5:13am Dec 2, 2009 5:08am | Edited 5:13am
Quoting NightMoves
Keeping an eye on the E/U looks like we might be headed for another run, the Yen crosses may not be ready to go just yet looks like they might be headed for the next Resistance level.

--NM
Definitely, even the daily is pointing up.
everything looks well supported off the horizontal support, the trendline and the ma's. The news will hopefully move it in few hours.

P.S. I would add a chart if i knew how....
  • #238
  • Edited 6:56am Dec 2, 2009 6:18am | Edited 6:56am
Quoting azlan80
***** just to say hi!
u got ya Hector.
Ypu're brilliant
Hi azlan80,
And a hello to you, welcome to the thread!
I think the Hector way of trading is the best around, I have been trading this way for several years now. And loving every minute of it!!
--NM
  • #239
  • Dec 2, 2009 6:25am Dec 2, 2009 6:25am
Quoting Yebisu
Definitely, even the daily is pointing up.
everything looks well supported off the horizontal support, the trendline and the ma's. The news will hopefully move it in few hours.

P.S. I would add a chart if i knew how....
Yebisu,
Yes looks like everything has moved back to major S/R levels, we will see what the news does to it.

If you want to save a pic in MT4 just go to: file/save as picture/
then pick a spot to save it. To upload the picture, when in the reply screen of the thread you are replying to, just click on on the little paper clip symbol where it says attachments and then find your picture you saved when the little window pops up, then click on upload and then your done.

--NM

--NM
  • #240
  • Edited 1:33pm Dec 2, 2009 1:05pm | Edited 1:33pm
Hi Guys,
I thought I would give you an update of the pairs I have been watching, the month of December can be pretty choppy,and of the pairs that I have been watching they seem to be following suit with typical December patterns.

The EURJPY cross has retraced back the area of dynamic S/R and has broke through the 50 SMA but so far has not played with the 100. This is the 4hr setup chart showing how it has retraced back to and broke the 50 SMA and is now bouncing somewhat at a major support now turned resistance which was last Thusdays break out point.

The pink horizontal line is the daily resistance level of the range in it has been bouncing around in, and has crossed above that lower channel line and back into the channel.

We would need a break below that line I think for a signal the pair is headed south again. So the setup is still valid imo and I will just wait it out.

The USDJPY cross has retraced back to the area of dynamic S/R and may have formed a double top in that area which could be a sign this pair is also ready to head south again. So it is oin the area I am looking for all we need is a good break of the retracement line as that may also reinforce the double top formation at the level where the last break occured, as you can see the black horizontal line which was acting as support and is not acting as resistance. So this pair is still on my watch as a pair that may gice up some short entries in the near future.

Those are the ones I am still watching at the moment and looking for short entires.

--NM
Attached Image(s) (click to enlarge)
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