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  • #10,441
  • Mar 6, 2010 2:55am Mar 6, 2010 2:55am
Quoting Alexandra
Next......
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

There is doji on Boss and Big Boss here and this looks like a significant pause, possible reversal (speaking about the candle) since the big SS from 2/8/09 on Boss. This is a pair that produced some good moves downwards this year - with the trend, but the doji now causes one to be cautious and wait, it stopped by my major SR too, at 1.5173. Wait and watch (I am tempted to put Buy stop at 1.5200 but this against the trend) for me for now.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #10,442
  • Mar 6, 2010 7:18am Mar 6, 2010 7:18am
Well, as Alexandra has showed we have some interesting candles for the week. So, I'll post some charts about that, keeps me outa mischief

Won't post the weekly yens, as most have printed IB and we all know what to do about this (I think). Maybe Fundis are intervening here strongly...

Cable and Eur gbp present long needles, which I'm sure are resisting cable going to parity with the euro (?). both bounce of SR....Same with chf gbp.

Eur cad and aud cad seem to be wanting more down and present two BEOB, closing under support, whilst usd cad's candle is straight into my humble support.


Aussie and gold created a BUEB, maybe helped by the hammer in the monthly. Gold can be inversely correlated to the dolla sometimes...

Kiwi, swissie, euro and usd dx have presented us with enough needles to start another yarn shop and get us wondering.... Kiwi could be a dark horse at some stage, it has parted correlation with aussie and giving that powerful rally in aud nzd.

So, now what? There should be some ideas lurking around here.

Here's charts with my SR.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dx_sat.png Size: 72 KB
Click to Enlarge Name: euro_sat.png Size: 79 KB
Click to Enlarge Name: swissie_sat.png Size: 78 KB
Click to Enlarge Name: kiwi_dsat.png Size: 70 KB
Click to Enlarge Name: aussie_sat.png Size: 70 KB
Click to Enlarge Name: gold_sat.png Size: 72 KB
Click to Enlarge Name: u_cad_sat.png Size: 72 KB
Spinner 'Tis in the Waiting.....
  • #10,443
  • Mar 6, 2010 7:19am Mar 6, 2010 7:19am
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Quoting strat
Sid,

Which is the most profitable, stress and pain free trade?

The one you took

OR

The one on Feb 22 (a short below the Feb 19 shooting star) or maybe Feb 23 (a short below the Feb 22 BEEB if you didn't have the shooting star) to getting out above Sunday's bar?
strat, sorry for the delay. i was off working the whole week without internet access...

i see what you mean. certainly much more stress free that way around. yes, i don't have the ss on my chart but the beeb you pointed out would have been available to trade (i used it for my sl, but was too much bought into the idea of price moving up to consider shorting).

thanks for the heads up!
  • #10,444
  • Mar 6, 2010 7:27am Mar 6, 2010 7:27am
Quoting Jideck
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

There is doji on Boss and Big Boss here and this looks like a significant pause, possible reversal (speaking about the candle) since the big SS from 2/8/09 on Boss. This is a pair that produced some good moves downwards this year - with the trend, but the doji now causes one to be cautious and wait, it stopped by my major SR too, at 1.5173. Wait and watch (I am tempted to put Buy stop at 1.5200 but this against the trend) for me for now.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck...
Trend?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 23 KB
  • #10,445
  • Mar 6, 2010 7:27am Mar 6, 2010 7:27am
And the three missing ones.

Interesting week end to study charts. A huge amount of dojis, some CT. Big Bars (with no whisky ) and long trends that look like going on...

Cheers

Spinner
Attached Image(s) (click to enlarge)
Click to Enlarge Name: e_cad_sat.png Size: 89 KB
Click to Enlarge Name: e_aud_sat.png Size: 66 KB
Click to Enlarge Name: e_g_sat.png Size: 63 KB
Spinner 'Tis in the Waiting.....
  • #10,446
  • Mar 6, 2010 7:31am Mar 6, 2010 7:31am
Trend?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 23 KB
  • #10,447
  • Mar 6, 2010 7:38am Mar 6, 2010 7:38am
Trend!
Attached Image (click to enlarge)
Click to Enlarge Name: greek.gif Size: 22 KB
  • #10,448
  • Mar 6, 2010 7:42am Mar 6, 2010 7:42am
Random Market Movement? Pshaw!
Attached Image (click to enlarge)
Click to Enlarge Name: aussie.gif Size: 28 KB
  • #10,449
  • Mar 6, 2010 7:52am Mar 6, 2010 7:52am
Quoting Alexandra
Trend?
Hello all, my opinion for what it's worth (literally, 2 cents!), while the isolated PA this week on Sterling looks tempting, i see no wider strength in it on the bigger picture and i'll be keeping an eye around the thick green line on both Cable and the Yen cross...

Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 70 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.jpg Size: 66 KB


On the other hand, Nic's adopted country's currency had a strong week and sits on a nice rising trendline right now. A strong break through the TL and the S/R @ around about 1.0250 would give a new entry into a year long trend...

Attached Image (click to enlarge)
Click to Enlarge Name: cadweek.jpg Size: 63 KB


Attached Image (click to enlarge)
Click to Enlarge Name: caddaily.jpg Size: 71 KB


Good trading all.
Dan
  • #10,450
  • Mar 6, 2010 10:05am Mar 6, 2010 10:05am
Help! Which is the trend of this one??

Sooo confused after all those charts




Spinner
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_cad.png Size: 76 KB
Spinner 'Tis in the Waiting.....
  • #10,451
  • Mar 6, 2010 10:09am Mar 6, 2010 10:09am
Post #10449

Marcus, just reinforcing what we have been telling you - the beauty of zooming out and seeing the BIG PICTURE (and drawing meaningful TLs).
15 YEARS OF PASR ON FOREX FACTORY!
  • #10,452
  • Mar 6, 2010 12:06pm Mar 6, 2010 12:06pm
Hi All,

A lot of people trading this kind of diamond formation for reversal and it is rare form. We have it on Usdjpy Weekly. I don't know may be with fundamentals and people trade this formation will reverse Usdjpy.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.03-06-10.gif Size: 18 KB
  • #10,453
  • Mar 6, 2010 7:38pm Mar 6, 2010 7:38pm
Quoting patrick25
Hi All,

A lot of people trading this kind of diamond formation for reversal and it is rare form. We have it on Usdjpy Weekly. I don't know may be with fundamentals and people trade this formation will reverse Usdjpy.
Yes, it's a start, I agree. The downward weight is so heavy, but the recent chart formations are positive....for the moment.
  • #10,454
  • Edited 11:03am Mar 7, 2010 8:57am | Edited 11:03am
Is there a possible Long trade on Daily? Clear move up since beginning of Feb, MAs beneath candle, Weekly up in Feb and Monthly also but needs to break 9400 to make a new H.

On Daily, first R (TP) at 9240, next at 9300. Entry above Friday's candle which is sitting on S 9000 with SL below candle gives R:R of approx 1:2+

With trend since beginning of Feb but CT since November. At 50 Fib drawn from Nov SH to Dec SL.

Comments welcome!
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.d.06.03.2010.gif Size: 33 KB
  • #10,455
  • Mar 7, 2010 12:17pm Mar 7, 2010 12:17pm
I'd say that your a little late to get in a long trade now because price is sitting just below Monthly resistance.

Quoting Lotuselanman
Is there a possible Long trade on Daily? Clear move up since beginning of Feb, MAs beneath candle, Weekly up in Feb and Monthly also but needs to break 9400 to make a new H.

On Daily, first R (TP) at 9240, next at 9300. Entry above Friday's candle which is sitting on S 9000 with SL below candle gives R:R of approx 1:2+

With trend since beginning of Feb but CT since November. At 50 Fib drawn from Nov SH to Dec SL.

Comments welcome!
Annoying Precision
  • #10,456
  • Mar 7, 2010 12:31pm Mar 7, 2010 12:31pm
Quoting erikte279
I'd say that your a little late to get in a long trade now because price is sitting just below Monthly resistance.
Can you show your monthly chart? (I can't see that resistance on mine)
thanks
  • #10,457
  • Mar 7, 2010 12:32pm Mar 7, 2010 12:32pm
Quoting erikte279
I'd say that your a little late to get in a long trade now because price is sitting just below Monthly resistance.
I agree - you missed the boat on the long - I'm waiting for price to reach 92/93 then I'll be looking for a short.

Edit - meant 92/93 not 42/3
  • #10,458
  • Mar 7, 2010 12:35pm Mar 7, 2010 12:35pm
Quoting erikte279
I'd say that your a little late to get in a long trade now because price is sitting just below Monthly resistance.
Thanks for that. I have Monthly R at 9400 but now I have checked again on the line chart, that is for the Highs rather than the Close which is preferred by Strat and what I have always used before.

So a Long is probably not a good idea after all!

Thanks for the response.
  • #10,459
  • Mar 7, 2010 12:35pm Mar 7, 2010 12:35pm
[quote=Lotuselanman;3528399]Is there a possible Long trade on Daily? Clear move up since ...

Lotuselanman,

I cant say you may not be right, but I dont like the LH and LL I see on the daily and weekly.

Poncho.
" I can read the left side of the chart, the right side's a Bitch!
  • #10,460
  • Mar 7, 2010 12:41pm Mar 7, 2010 12:41pm
Check out .9111

after the close of 02.26 would have been optimal timing to get in a stress free long trade imo.
Annoying Precision
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