EURUSD | Page 8900 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #177,981
  • Jan 6, 2010 8:32am Jan 6, 2010 8:32am
4424 is the 23.6 fibonacci retracement of 5145-4213. If motion penetrates anything more than 4424-4430, then its gonna go as high as 4570 and at the Non-Farm Payroll day its gonna dip. If on the other hand it hits 4424-4430 zone and bounces down, then its gonna end at 4150-4170 zone and at the Non-Farm payroll its gonna bounce up.


So the only good trade setup for today is sell at 4424-4430, stoploss at 4435 and take profit at 4380 followed by 4300. Anything more than 4435 stay out and exit all short positions
  • #177,982
  • Jan 6, 2010 8:32am Jan 6, 2010 8:32am
Quoting Optimum
right signals
Hi Optimum,

Nice to see you back. Have been waiting for your response to my earlier request for the indicators being used by you. If it is possible to share them appreciate if you post the indis along with the template being used by youo.

Thanks

TF
  • #177,983
  • Jan 6, 2010 8:36am Jan 6, 2010 8:36am
Quoting sat0pi
I went long about an hour ago on EURUSD at .43784, currently +25 pips or so. Just letting it run atm looking for a sign to exit...
Good job !

Tell me sat0pi, do you measure your winnings by pips or by percentage. In other words: Do you enter always the same position size, or adjust it accordingly to SL ?


Thanks !!
  • #177,984
  • Jan 6, 2010 8:38am Jan 6, 2010 8:38am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
not sure that its going to bust right through the resistance at .4417. plus some divergence 15 minute.
  • #177,985
  • Jan 6, 2010 8:38am Jan 6, 2010 8:38am
for the next 20 minutes.... take 4404 as reference
The best thing that can happen to you is to find out where you're wrong.
  • #177,986
  • Jan 6, 2010 8:39am Jan 6, 2010 8:39am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting jaboo
not sure that its going to bust right through the resistance at .4417. plus some divergence 15 minute.

spoke too soon.
  • #177,987
  • Jan 6, 2010 8:42am Jan 6, 2010 8:42am
Why it making so much sideways ? assuming it is in a diamond like pattern movements , 1,4458 ( or nearer ) again can reach .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #177,988
  • Jan 6, 2010 8:43am Jan 6, 2010 8:43am
we must touch at least 4433.. for technical reasons
The best thing that can happen to you is to find out where you're wrong.
  • #177,989
  • Jan 6, 2010 8:45am Jan 6, 2010 8:45am
I only use 1 indicator, and that is the RSI.

I use Trendlines, Fibonacci and Elliot Wave as my primary method of analysis

My order of checking for a trade is as follows:

Any good position has to have the following:
These points are noted in the order of their importances

1. It must hit a Trendline

2. it must be in a Zone, either sell or buy zone.

3. It must hit a fibonacci level. The fibonacci levels I use are:
Retracements:23.6,38.2,50.0,61.8, and 76.4
Price Extension Levels:1.236, 1.382, 1.618, 2.000, 2.382, 2.618

4. It must finish a elliot wave formation. If the elliot wave formation says its completed, but it breaks certain trendlines then I will nullify my elliot wave analysis and go with what the trendline tells me.

5. The time that it took to finish a pattern must be a fibonacci multiple (ie 23.6,38.2, or 61.8) or equal to the time that took for other important waves to finish. Its a bit complicated here and cant mention it all

6. Once the price starts to close in my so called order zone, then I go to the 1 minute RSI and make sure that is maxed out and then I go for my trade.

Buy on RSI: 35-50% level is where you buy, 70-85 level is where you exit
Sell on RSI: 55-65% level is where you sell, 20-30% level is where you exit

Number one exercise I recommend to anybody:

Just keep drawing trendlines in all sorts of directions, erase them and redraw them. The chart will start to speak to you in ways you wont believe. Do this for 1-1.5 hour every night and you see where the good sells and buys are. Dont get stuck in your elliot wave and pick the trendline over your elliot wave analysis anytime they dont synch.

Good luck
  • #177,990
  • Jan 6, 2010 8:58am Jan 6, 2010 8:58am
  •  jaboo
  • | Joined Dec 2009 | Status: Ray Comfort is....the banana man | 236 Posts
Quoting Kambooj
5. The time that it took to finish a pattern must be a fibonacci multiple (ie 23.6,38.2, or 61.8) or equal to the time that took for other important waves to finish. Its a bit complicated here and cant mention it all
can you point me in a direction where i can learn more about this please?

thanks
  • #177,991
  • Jan 6, 2010 8:58am Jan 6, 2010 8:58am
Quoting Driver55
we must touch at least 4433.. for technical reasons
Why is that? I see 1.4433 is fib 23.6% from the fall.
They think they are smarter than I am.
  • #177,992
  • Jan 6, 2010 9:03am Jan 6, 2010 9:03am
Read the Book "Mastering Elliot Waves" by Glenn Neely, also go to http://www.NeoWave.com and they have a bunch of "Questions Of The Week".

The time component is mentioned when Glenn Talks about his formations and its specific to each formation. For example if it took X amount of time to finish wave 2 of a impulse where X is really small, then Wave 4 will take longer for example it will take 1.618X or 2X to finish. So that way you can approximately tell when a correction will end, and it will make the job of entering the market easier.

I have done some analysis myself on this and there are other stuff that I have found besides what Glenn is mentioning in his book, but overall reading the book is a bit difficult, but it will enlighten you quite a bit.

Take Care
  • #177,993
  • Jan 6, 2010 9:09am Jan 6, 2010 9:09am
retest huh?
  • #177,994
  • Jan 6, 2010 9:16am Jan 6, 2010 9:16am
Quoting maran83
Good job !

Tell me sat0pi, do you measure your winnings by pips or by percentage. In other words: Do you enter always the same position size, or adjust it accordingly to SL ?


Thanks !!
I only measure by pips because everyone uses different lot sizes. As for position size I adjust depending on my SL/risk tolerance for that specific trade.
  • #177,995
  • Jan 6, 2010 9:17am Jan 6, 2010 9:17am
Quoting SkyzerFX
Me personally, I'd buy pull backs rather than short Tops. IMHO.
When will that occur? Hopefully not after 1200 cause thats a long before that happens...
  • #177,996
  • Jan 6, 2010 9:17am Jan 6, 2010 9:17am
Quoting Evilpips
retest huh?
Retest what? .4390 or .4424
{Promotion Removed}
  • #177,997
  • Jan 6, 2010 9:20am Jan 6, 2010 9:20am
Quoting fontu
Why it making so much sideways ? assuming it is in a diamond like pattern movements , 1,4458 ( or nearer ) again can reach .
fontu


Hey - you are the guy with the "Diamond Formation" patterns ...



I remember that you did a few days or few times before ...

Seems you like these pattern ...

Moreover I do agree - I saw / observed that about two hours ago as well and was thinking about ...

"Diamond Formations" in a more days development in hourly charts are very rare ...
  • #177,998
  • Jan 6, 2010 9:21am Jan 6, 2010 9:21am
Quoting Kambooj
4424 is the 23.6 fibonacci retracement of 5145-4213. If motion penetrates anything more than 4424-4430, then its gonna go as high as 4570 and at the Non-Farm Payroll day its gonna dip. If on the other hand it hits 4424-4430 zone and bounces down, then its gonna end at 4150-4170 zone and at the Non-Farm payroll its gonna bounce up.


So the only good trade setup for today is sell at 4424-4430, stoploss at 4435 and take profit at 4380 followed by 4300. Anything more than 4435 stay out and exit all short positions
Dont you think we missed this setup?

What timeframes are you looking at?
They think they are smarter than I am.
  • #177,999
  • Jan 6, 2010 9:30am Jan 6, 2010 9:30am
Quoting gatorinla
if 4373 is respected then 4411/12 may be a weak top..4373 may even be a weak top..nearest st number to 4373 is 4381 .. overshoot chart number
found overshoot number on ass chart.. good and bad.. this is the ass original oct. ass chart but includes last weeks white level overlay. during consolidation many charts get thrown in the mix.. math said 4411 + overshoot.. another chart that was working next level was 4412.. so i put it out there..(green chart one from yesterday)... the bad thing about this is... #177712 still in my shorts (except gu i unloaded twice for small profits) and did add at eu 4412... and will add maybe till 4489... but i doubt we get there...but before nfp shit happens.. time will tell..
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 28 KB
those who can, do. those who cant, talk about those who can
  • #178,000
  • Jan 6, 2010 9:30am Jan 6, 2010 9:30am
Inability to close below 1.43 tells me we are getting ready for a big bounce possiblty to mid 1.455-1.465 region
469 traders viewing now