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EURUSD

  • #205,201
  • Mar 2, 2010 8:11pm Mar 2, 2010 8:11pm
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  • #205,202
  • Mar 2, 2010 8:15pm Mar 2, 2010 8:15pm
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...


All aboardz!
  • #205,203
  • Mar 2, 2010 8:15pm Mar 2, 2010 8:15pm
Excellent thanks..for quite sometime it's been anyone's game.
My own interpretation is we are still in a retracement since the Euro hit it's high. It means we will probably go down to the 1.2000 level before it's all done. Meanwhile we will have these burps on the upside.

Now in reality the market goes where they want it to go. The they are the market makers.As far as the study of ecomonics it's all a put on doesn't work because at the end of the day "they determine the market direction"

So you end up with something much like gambling with some inside information. In a ideal world things such as Fib lines. waves, all kinds of TA works and some of it works very well. However none of it works if one of the they decides to make the market go the other way.
Also TA can be enjoyable. It is for me even if it doesn't really do much..
Cheers
Dean

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...
  • #205,204
  • Mar 2, 2010 8:24pm Mar 2, 2010 8:24pm
Quoting dean walker
Now in reality the market goes where they want it to go. The they are the market makers.As far as the study of ecomonics it's all a put on doesn't work because at the end of the day "they determine the market direction"
The market makers have very little control over pricing, as they get their prices from the banks. It's the Foreign Exchange Sales and Trading Department of the banks that determine direction.
  • #205,205
  • Mar 2, 2010 8:30pm Mar 2, 2010 8:30pm
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

That pin bar is not looking particularly brilliant
  • #205,206
  • Mar 2, 2010 8:32pm Mar 2, 2010 8:32pm
Okay your saying the same thing just call the banks market makers..the point is prices are all artificial being made up by men with prejudice..


Quoting Clouds
The market makers have very little control over pricing, as they get their prices from the banks. It's the Foreign Exchange Sales and Trading Department of the banks that determine direction.
  • #205,207
  • Mar 2, 2010 8:34pm Mar 2, 2010 8:34pm
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.
This happens often to me; I enter a sell at resistance only to see the price instantly blow past my TL or BB or whatever. When the price finally comes back it makes a U-turn right where I entered the trade. Nice explanation; it really helps put this kind of PA in perspective.

BTW this is why I average in on certain trades, though some people say this is a mistake. In my experience however, it has helped me deal with this kind of situation many times.
  • #205,208
  • Mar 2, 2010 8:35pm Mar 2, 2010 8:35pm
Quoting dean walker
Okay your saying the same thing just call the banks market makers..the point is prices are all artificial being made up by men with prejudice..
Mainly computers. Though men or women did write the software. It's a bank competition.
  • #205,209
  • Mar 2, 2010 8:43pm Mar 2, 2010 8:43pm
Does anybody have .3870's as possible target before another big drop?

http://www.forexfactory.com/showpost...5&postcount=87
  • #205,210
  • Mar 2, 2010 8:46pm Mar 2, 2010 8:46pm
Quoting TheLastCoke
Does anybody have .3870's as possible target before another big drop?

http://www.forexfactory.com/showpost...5&postcount=87
The thought did cross my mind,, mainly because of the daily pin bars and the weekly doji's.. It looks like a possible target...
  • #205,211
  • Mar 2, 2010 8:46pm Mar 2, 2010 8:46pm
Quoting TheLastCoke
Does anybody have .3870's as possible target before another big drop?

http://www.forexfactory.com/showpost...5&postcount=87
Since London last night i have been long bias. I see some more steam north after London open. but I never said i was good, just lucky. But i am i have my s/l for profit so no risk trade for me.
  • #205,212
  • Mar 2, 2010 8:47pm Mar 2, 2010 8:47pm
Quoting TheLastCoke
Does anybody have .3870's as possible target before another big drop?

http://www.forexfactory.com/showpost...5&postcount=87
Maybe, but after a couple more ranges?
  • #205,213
  • Mar 2, 2010 8:49pm Mar 2, 2010 8:49pm
Quoting Clouds
Maybe, but after a couple more ranges?
Why do you think we will range some more..... none of my business,, just curious is all
  • #205,214
  • Mar 2, 2010 8:51pm Mar 2, 2010 8:51pm
Quoting Protogenos
This happens often to me; I enter a sell at resistance only to see the price instantly blow past my TL or BB or whatever. When the price finally comes back it makes a U-turn right where I entered the trade. Nice explanation; it really helps put this kind of PA in perspective.

BTW this is why I average in on certain trades, though some people say this is a mistake. In my experience however, it has helped me deal with this kind of situation many times.

it is all in the volumes around support / resistance levels

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  • #205,215
  • Mar 2, 2010 8:51pm Mar 2, 2010 8:51pm
Quoting Iplus3
Why do you think we will range some more..... none of my business,, just curious is all
why not?
  • #205,216
  • Mar 2, 2010 8:51pm Mar 2, 2010 8:51pm
Quoting Clouds
Maybe, but after a couple more ranges?
Last 2 rectangles have lasted around 90+- periods before the break to the upside, on this one we have only 60+-periods so far.
  • #205,217
  • Mar 2, 2010 8:54pm Mar 2, 2010 8:54pm
Quoting Clouds
why not?
Good answer.. anything is possible right If we new where it was going then we good retire and live in the Bahama's..
  • #205,218
  • Mar 2, 2010 9:04pm Mar 2, 2010 9:04pm
Quoting Iplus3
Good answer.. anything is possible right If we new where it was going then we good retire and live in the Bahama's..
Ill short at resistance, w/ a conservative target at bottom of range, and if I get SL, i will wait and short around 3850
that's what i'll do
  • #205,219
  • Mar 2, 2010 9:04pm Mar 2, 2010 9:04pm
Quoting realjumper
I have a small short running......this week is a bitch so no big trades for me
Closed the short for -15....now I'm all out until things become clearer......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #205,220
  • Mar 2, 2010 9:05pm Mar 2, 2010 9:05pm
Quoting TheLastCoke
Last 2 rectangles have lasted around 90+- periods before the break to the upside, on this one we have only 60+-periods so far.
what are those periods, if i may ask?
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