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  • #205,181
  • Mar 2, 2010 7:23pm Mar 2, 2010 7:23pm
Quoting dean walker
It continues to amaze me how excited some of you get when nothing has change. We been at this level of 3615-20s all day.Am I missing something here?
Price action is all about interpretation. Here is mine. We have seen a strong bullish trend since the lows around 1.3430 were rejected hard. We went up to the area you mentioned without much pause where like you said we consolidated for a while. What has happened in the last hour or so, that range was broken to the upside , all the way to the longer time frame strong resistance area around 1.3650. Now given that this break up of the temporary range is around the asian session open but did not have the strength to go higher then the larger timeframe strong resistance area, one has to assume it is the beginning of the end for the current trend with a possible reversal in sight (I got money on that idea with stop loss above 1.3710 and see potential to 1.34xx again and lower).

For a bull move to happen here, 1.3650 area has to be broken hard up and pa will jump at least 100pips probably fueled by some sort of news as history has shown such breaks do occur due to news volatility. Given there is no major news in sight right now, such a move at this point in time is unlikely.

Now remember this is just my interpretation to your question. Simply put, yes we are still close to the ranging area, but the second we broke it, it has turned into a whole new ball game where the bears are actually putting up a battle for control and we should find out who wins this battle soon enough.

Edit: just checked calendar...LOL
Different opinions highly valued, ignorant to slander.
  • #205,182
  • Mar 2, 2010 7:24pm Mar 2, 2010 7:24pm
Quoting malcolmb14
sellers sitting at 1.3650 .. that pesky resistance level .

the 4 hour is still up , 60 min pin bar now BUT i am doing hit and run buying each dip
u buy it

is it will back to 3590???
  • #205,183
  • Mar 2, 2010 7:26pm Mar 2, 2010 7:26pm
4 hour greenies ...no point in try to pick top just yet

I like to see a reversal then an up move on 10 min chart and sellers hittting that for confirmation of trend change

that is just my style

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  • #205,184
  • Mar 2, 2010 7:27pm Mar 2, 2010 7:27pm
also the ways pros work at resitance levels is if they want higher prices they break to upside fast , so they lock in traders that might otherwise sell into their efforts to buy. Then those that miss the original break out wait for the nice retrace and buy , adding fule to the fire.

Quoting psiholog
Price action is all about interpretation. Here is mine. We have seen a strong bullish trend since the lows around 1.3430 were rejected hard. We went up to the area you mentioned without much pause where like you said we consolidated for a while. What has happened in the last hour or so, that range was broken to the upside , all the way to the longer time frame strong resistance area around 1.3650. Now given that this break up of the temporary range is around the asian session open but did not have the strength to go higher then the larger timeframe...
Blogging daily now at www.volume.zone
  • #205,185
  • Mar 2, 2010 7:28pm Mar 2, 2010 7:28pm
explain what the difference is between the ADP non farm employment change tomorrow, and the non farm employment change Friday?
All that is left in FF is just plain garbage. "Cloggie"
  • #205,186
  • Mar 2, 2010 7:29pm Mar 2, 2010 7:29pm
Hello friends.
I see a Reversal signal (doji candle) in 1 h TF.
I think itis going down again.
  • #205,187
  • Mar 2, 2010 7:30pm Mar 2, 2010 7:30pm
Quoting tonyo524
explain what the difference is between the ADP non farm employment change tomorrow, and the non farm employment change Friday?
they use adp as a manipulator of the market as it can sometimes be correlated to the non farm on Friday

for example a positive adp number will send market up , negative down .

If we do get negative I will interested to see reaciton on es , all bad news has been bought this week
Blogging daily now at www.volume.zone
  • #205,188
  • Mar 2, 2010 7:33pm Mar 2, 2010 7:33pm
Quoting malcolmb14
they use adp as a manipulator of the market as it can sometimes be correlated to the non farm on Friday

for example a positive adp number will send market up , negative down .

If we do get negative I will interested to see reaciton on es , all bad news has been bought this week
Malc, was wondering what was up with 2 of seemingly the same report.
All that is left in FF is just plain garbage. "Cloggie"
  • #205,189
  • Mar 2, 2010 7:33pm Mar 2, 2010 7:33pm
Quoting malcolmb14
also the ways pros work at resitance levels is if they want higher prices they break to upside fast , so they lock in traders that might otherwise sell into their efforts to buy. Then those that miss the original break out wait for the nice retrace and buy , adding fule to the fire.
Finally someone who watches the charts as much as I do, truly watches and sees the meaning behind PA. Sir I am truly impressed and agree 100% with your statement. I have played the retrace and buy (or sell if the trend is down) countless times. I usually do it when pa was ranging for too long for me to formulate any opinion as to which direction the market is going and let PA tell my by itself when a break finally occurs. A lot less risky then trying to "guess".
Different opinions highly valued, ignorant to slander.
  • #205,190
  • Mar 2, 2010 7:34pm Mar 2, 2010 7:34pm
Funny artice!

I am the first to laugh when the US says "surprise" job losses are higher, "surprise" etc.

However, It is important Fundamentally that we realize essentially EUR/USD is 2 Economies in TURMOIL. Same with Cable.....

Thus - One poorly performing Fiat Currency against another.
Both economies are in and Need repair.

Profiting from trading and investing or long term performance of a "currency"
or commodity are 2 different things.

I will be the first to short dollars - Don't get me wrong.

Not everything is on the charts.

Fundamentals are Rarely if ever discussed on these interactive forums. (maybe I am in the wrong place thread?)

Quoting bigandrich
Did you catch this article, malc? Things to ponder ...wondering if the market is trying to factor this in

Winter storms to distort US jobless figures-Summers
http://reuters.com/article/idUSN0111549320100301
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #205,191
  • Mar 2, 2010 7:34pm Mar 2, 2010 7:34pm
Quoting psiholog
Price action is all about interpretation. Here is mine. We have seen a strong bullish trend since the lows around 1.3430 were rejected hard. We went up to the area you mentioned without much pause where like you said we consolidated for a while. What has happened in the last hour or so, that range was broken to the upside , all the way to the longer time frame strong resistance area around 1.3650. Now given that this break up of the temporary range is around the asian session open but did not have the strength to go higher then the larger timeframe...
Thank you for your easy to understand analysis.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #205,192
  • Mar 2, 2010 7:34pm Mar 2, 2010 7:34pm
Quoting psiholog
Finally someone who watches the charts as much as I do, truly watches and sees the meaning behind PA. Sir I am truly impressed and agree 100% with your statement. I have played the retrace and buy (or sell if the trend is down) countless times. I usually do it when pa was ranging for too long for me to formulate any opinion as to which direction the market is going and let PA tell my by itself when a break finally occurs. A lot less risky then trying to "guess".
awesome posts .. keep them coming ...
Blogging daily now at www.volume.zone
  • #205,193
  • Mar 2, 2010 7:38pm Mar 2, 2010 7:38pm
Quoting malcolmb14
also the ways pros work at resitance levels is if they want higher prices they break to upside fast , so they lock in traders that might otherwise sell into their efforts to buy. Then those that miss the original break out wait for the nice retrace and buy , adding fule to the fire.
i thought it was more to do with EA, or the way the major banks pricing software is set up.
  • #205,194
  • Mar 2, 2010 7:40pm Mar 2, 2010 7:40pm
Next train comingz... boarding long for 1.36770... next resistance line... as 1hr stochastic has yet to go down and 4hr stochastic is still pushing up, complimented by daily stoch upward movement as well...
  • #205,195
  • Mar 2, 2010 7:42pm Mar 2, 2010 7:42pm
Quoting malcolmb14
also the ways pros work at resitance levels is if they want higher prices they break to upside fast , so they lock in traders that might otherwise sell into their efforts to buy. Then those that miss the original break out wait for the nice retrace and buy , adding fule to the fire.
You the man.

Wide spread up bars on high volume at resistance are used to Lock traders in, not to keep new traders out.

You can find more nuggets from malcolmb in the VSA thread. Come on in and join the learning.
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #205,196
  • Mar 2, 2010 7:46pm Mar 2, 2010 7:46pm
Quoting malcolmb14
that bull div just jumped out at me each down move into sub 1.3500 getting less and less powerful
Maybe you're right. I don't know how important stochastics are to this. What I know is that it can, (together with other things), indicate an overbought retrace in a clear down trend and vice versa. But not reliable if it looks oversold in down trend. As you know past days been weird and unpredictable in this battle ground.
  • #205,197
  • Mar 2, 2010 7:54pm Mar 2, 2010 7:54pm
Quoting SkyzerFX
Please don't pay attention on what Skyzer is doing, since you know, that I'm

playing everything upside down, heck, I even playing against my own chart

posted

on Sunday. Well, let me tell ya, in this type of Market ups and downs, you

have

to stick to (direction you choose) either LONG or short (Buy low, sell high - that's important)

(check your charts on H4), so? I shorted earlier

just below 1.36 and I'll continue to add short every 30 pips up or so till there is

replacement and that's what most of you guys won't catch it, cause...
Helpful Information!
  • #205,198
  • Mar 2, 2010 8:03pm Mar 2, 2010 8:03pm
Quoting Blacknightz
Next train comingz... boarding long for 1.36770... next resistance line... as 1hr stochastic has yet to go down and 4hr stochastic is still pushing up, complimented by daily stoch upward movement as well...

I am so tempted to go long but I am not too sure about going against the trend. What is your TP? I am assuming you are just scalping against the trend until the next signal comes up to show it is resuming the downtrend?

Thanks heaps for the post!
  • #205,199
  • Mar 2, 2010 8:03pm Mar 2, 2010 8:03pm
Quoting Clouds
i thought it was more to do with EA, or the way the major banks pricing software is set up.
nope ....

If i am professional money and want higher prices I want to be buying on the way up . When price meet resistance I will push it through locking iun those that would try to sell at resistance into my buying. also to kill the stops that are short close to resistance.

Look at the way 1.3440 held three time or more. This is how I knew eu was not ready for lower prices , buyers coming in at each test , price not pushing thru

here is a chart with a classic mark up thru resistance ... reatrce did not happen till 40 pip after break out

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  • #205,200
  • Mar 2, 2010 8:04pm Mar 2, 2010 8:04pm
Quoting learntowin

Watch 1.3565 first

Until broken, then.......
Hohoho, i have the same level too...if the price break 1.3565 i will sell, if the price break 1.3682 the bull will go on..

I currently hold a sell on 1.3567, from yesterday trade. There is some signal left on sell mode, but it didnt look good to me. but nevertheless, my trading strategy said hold, i hold for the time being.

Always stick to the plan my friends
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