i dont see more room for EU to fall further i am expecting retracement from here.
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Chart patterns and trendline discussion....
- #171
- Feb 18, 2010 12:26pm Feb 18, 2010 12:26pm
You may hate me for this my friend.
These questions are intended to make you think, not recommend. What time fraem are you actually looking for a signal, Month, Week, Day, or 4hr? Why do you think you need to short? Is there a reason to maintain that bias?
I ask this because it sounds like analysis paralysis, or trying to justify a bias.
Yes the 4 hr is appears to be hit against resistance, but on the daily, price started to fall following a dbl top and has broken out of the bull flag and retraced back into the bottom of the valley from the dbl top. Now look at the 4 hr again. What do you see? Again, I am not making a trade recommendation here, just trying to help you see what is there objectively.
Looking to the higher Tfs shows you where price is in the bigger picture. I think you may be looking for signals on too many TF. Pick one to take signals from, then you use the chart one step lower to find safe entry (better accuracy=less risk). Use a higher chart to see where price falls in the big picture, ie possible SL & TP. Good luck & Happy Trades!!
These questions are intended to make you think, not recommend. What time fraem are you actually looking for a signal, Month, Week, Day, or 4hr? Why do you think you need to short? Is there a reason to maintain that bias?
I ask this because it sounds like analysis paralysis, or trying to justify a bias.
Yes the 4 hr is appears to be hit against resistance, but on the daily, price started to fall following a dbl top and has broken out of the bull flag and retraced back into the bottom of the valley from the dbl top. Now look at the 4 hr again. What do you see? Again, I am not making a trade recommendation here, just trying to help you see what is there objectively.
Looking to the higher Tfs shows you where price is in the bigger picture. I think you may be looking for signals on too many TF. Pick one to take signals from, then you use the chart one step lower to find safe entry (better accuracy=less risk). Use a higher chart to see where price falls in the big picture, ie possible SL & TP. Good luck & Happy Trades!!
- #178
- Edited 4:02pm Feb 18, 2010 4:01pm | Edited 4:02pm
Never assume anything, let them tell you what they want to do. Guessing is what those poor sould who just got caught did. That's what 250,000+ participants collectively crapping themselves looks like. 