EURUSD

Anyone observing what crude oil is doing right now. It is jumping up and down.

I uyse 99% volume for all trading , vsa and also volume histogram

The value area is typically the 70% ile of volume for the day

The upper value area is the top of 70% bracket
The lower value area is the bottom of the 70% volume bracket
Then in the middle we have the point of control line. This is similar to the daily pivot , how it does change during the course of the day. This line is the price at which maximum volume occurred for the day

In the attached chart the orange / blue lines on right hand side of chart is the volume histogram for today . HV03, HV04 etc are point of control lines form 20 session back ( see how we bounced right off POC ./ high volume pivot of 5 session back). The solid blue line is the upper value area for today(1/4100) the grey blue line is lower value area for today 1.4069

These lines are used in day trading as follows
1) the value area and poc lines are extended form prior session. These are the black line noted as p-lva at top of screen and 1.4131.
2) If price trades under the prior days value area then high chances are day closes lower than prior day , sell rallies on 5 min charts only. If price is tradng above the upper value of the prior day then chaces are high we see a higher close for the day , buy dips on 5 min

3) If price is trading under or above the prior days value area and then comes into the prior days value and stays under the upper value (if breaking into the prior day value form above) or above the prior days lower value (if breaking above it form below) AND price stays in the value area for 30 min then 80 % chance price will travel across the prior days value area and it will be a reversal day


todays value area limits are dynamic however presently we can see that traders do not htink that EU is value above 1.4100 and want to buy at the lower value area 1.4070 , for now this is our 30 pip range play

point of control for this session is sitting right at 1.4090 , this is also high volume pivot of 4 session ago and under this is bearish

There is also another way to use point of control for today , lets just say that the point of control for today drops to 1.4060 and staysd there till end of session. This would singify that liekly we will have up session in LOndon due to the fact that the point of control being so close to low of day shows accumualtion .

Hope this is somewhat clear

well it s been a good day for me and i m still short on it t 1.3980 and i will sell any rallies if they occur . any comments are welcome good and bad

We can see 1,4006 and 1,3986 by the Asian session,tomorrow is really important for next 3 week.

Well, Double base

Weekly chart.

Is there a contest to see who can hold out the longest??

Hold out what? (Please no candid pics....)

Boring market where it gone up or down the question is now ???

stick another fork in japan.. toyota stopped selling half its fleet till further notice. plus the recall. plus damages. plus reputation..

So, who has got the weakest money in this game now?

im sure it will hurt their stock m.. might wanna wait for reaction when they open.. i got uj just a little lower since close.

i totz usdyen and audyen is goin to continue south?

maybe long term.. but if china stops buying commodities it may reverse. but i havent traded that pair in months. im not up to date on it..

asian session comingz...

sometimes i feel thatz china is juz testing their powers and toying with the world with their new found powers...

oh well... jim rogers did say the future is in asia...

yesterday began falling on wire report Chinese banks are requested to raise reserve requirements (not fresh news though), dropped from the Toushin demand speculations led high of 90.56 to 89.53 via stops sales at 89.75-70 (vs firm 89.80 level), rebounded to 90.50 when S&P revised down Japan's sovereign rating outlook (Moody's and Fitch maintained neutral stance), then met massive sales from the Yen crosses (especially the Eur/Yen and the Aud/Yen), hit the low at 89.38, and later at 89.35 via the 89.50 bids/stops. Risk aversion flows urge long unwinding of the Dlr/Yen (foreign players) and the Yen crosses (Japanese players) . The 50% retracement of the 84.82-93.78 rise at 89.30 is very near (or mostly achieved). Bids are placed towards the 89.00 barrier. Offers above 89.90.

Does anyone know what the name of this formation is? A reverse wedge or triangle? Or is there another name?

I like to call it "The Alligator". I dare you to stick your head in his mouth.

Haha, I like that...

http://offshoreinn.com/investing/oba...ssons-of-1937/