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  • #212,501
  • Mar 17, 2010 8:32pm Mar 17, 2010 8:32pm
Quoting gatorinla
notice where the weekly and monthly are.
Gator does that indicate that if go to those pivot points (which are lower 1.3700 and1.3699) we go south from there?...I'm really liking the education folks thanks...
  • #212,502
  • Mar 17, 2010 8:40pm Mar 17, 2010 8:40pm
So true. Everyone needs some serenity at times. You just prefer yours in The John.
Quoting jsspmk
Weekly chart is great for making real returns & also keeps one from over trading that leads to 'death by a thousand cuts' in lots of cases & strength of trends is so much stronger on weekly in comparison to intraday that suffer from reversion to the mean on so many occasions & the best part is that I can trade on my iPhone whilst doing something else than eye balling the charts all day long & the best part is that one can quite easily afford the luxury of being able to enjoy a proper nice shit whilst reading a paper for a long period of time, most...
  • #212,503
  • Mar 17, 2010 8:44pm Mar 17, 2010 8:44pm
Quoting petehnm
Gator does that indicate that if go to those pivot points (which are lower 1.3700 and1.3699) we go south from there?...I'm really liking the education folks thanks...
I like to think of the PP's regardless of time frame as a traffic light. Sometimes price gets close, slows down then makes an abrupt 180 and goes the other way, however some other times it blows trough the PP as if it was not even there. So with that being said I treat them just like that. If price is moving quickly towards a PP, I move down to a small TF chart and watch what it does. Because so many traders and systems use them as entry exit points you will often see the price jitter back and forth within a few pips of the PP itself. By a few I mean +- 10 or so although on some pairs this range is larger.

Typically if the pair gets there and stop or as gator refers to it "shows respect" to the line then there is a decent chance that it will bounce from that level at least to some degree. Now factor in what the overall trend is on the larger TF's and then you can begin to make the decision of which way to go. It all sounds easy in theory, but in practice... well lets just say it isn't quite as easy.

As an example we have just recently gotten two bounces off the 1.3715ish support level, meaning that the selling pressure is being soaked up by buyers at that level. However if we keep testing it, then eventually the sellers soak up all the buyers orders and the price continues to go south. While not always true the more times price is rejected off of a TL or S/R level, the longer it will hold, and if the bounce from that line is strong in the other direction meaning it moves directly away from it, make a note of that level as it could be a good entry point in the future depending on your time frame and trading style.

Look back on this thread and you can see some of the ass charts gator has posted, these are probably the best illustration of the behavior.
  • #212,504
  • Mar 17, 2010 8:46pm Mar 17, 2010 8:46pm
Quoting realjumper
Yep, I was fast asleep at the time so no chance for me to enter! Currently I'm short on EU, GU and NZU.......
aud should bounce @ 9182 + slip.. you may be able to enter after.

eu playing around 3720 a soft s/r now... monthly and weekly pp may cause a good bounce.

usdx above 79.61

eurx is now below the all time 50% mark.. trend is alive..
those who can, do. those who cant, talk about those who can
  • #212,505
  • Mar 17, 2010 8:46pm Mar 17, 2010 8:46pm
waiting for 3706 to fill my buy orders and the rebound.
  • #212,506
  • Mar 17, 2010 8:48pm Mar 17, 2010 8:48pm
Quoting gatorinla
aud should bounce @ 9182 + slip.. you may be able to enter after.
Ok....thanks
Doing what you like is Freedom. Liking what you do is Happiness.
  • #212,507
  • Mar 17, 2010 8:48pm Mar 17, 2010 8:48pm
SAO PAULO, March 17 (Reuters) - Brazil's central bank called an auction on Wednesday to buy U.S. dollars on the spot foreign exchange market as part of an ongoing effort to boost international reserves and limit currency market volatility
  • #212,508
  • Mar 17, 2010 8:50pm Mar 17, 2010 8:50pm
man I pity the Fool who has to scalp this lameass pa
"If The Fool persists in his Folly he will become wise." - William Blake
  • #212,509
  • Mar 17, 2010 8:50pm Mar 17, 2010 8:50pm
Quote:
Originally Posted by petehnm http://cdn.forexfactory.com/images/buttons/viewpost.gif
dollar index going down ..euro should go up http://cdn.forexfactory.com/images/s.../moneyeyes.gif


Quoting ppxdf
NOT sure.
if with spyke dont broke the 4-hour R1, @ 1,377, when will break?
I think we go south
acumen
thefxpivotpoint.com
Member Since Mar 2007
http://cdn.forexfactory.com/images/misc/10+kt.gif 3,179 Posts

http://cdn.forexfactory.com/images/icons/icon1.gif I love newbies
Quote:
Originally Posted by SirMcPip http://cdn.forexfactory.com/images/buttons/viewpost.gif
Euro past 1,3700. Stops are at breakeven.
The extra tough conditions of the credits to be granted to Greece by the EUSSR has one purpose only. It is to lead Greece to the "voluntary" exit door out of the Euro Zone. Other countries will look for the Exit door in not all too long. Euro on the way to 1,5000.



almost perfect!!!!
  • #212,510
  • Mar 17, 2010 9:00pm Mar 17, 2010 9:00pm
Jim Rogers says the [EURO] will probably break up in the next 15-20 years but adds that he owns the euro. Rogers said history shows currency unions do not survive. He said if the eurozone helps Greece, then that weakens the fundamentals of the euro. He prefers to let Greece go bankrupt so that everybody will say the euro is a serious currency. On the [GBP], he says it will be weighed by UK's gigantic debt and huge trade deficit. He added that most western currencies are very suspect and as usual chants his buy commodities mantra, saying gold will reach $2000/oz in the next 10 years. He says [CNY] may replace other currencies in 20 years but now now as it is a controlled ccy. He says the biggest bubbles now are in China real estate and US Treasuries.
those who can, do. those who cant, talk about those who can
  • #212,511
  • Mar 17, 2010 9:08pm Mar 17, 2010 9:08pm
Quoting Sooner
I like to think of the PP's regardless of time frame as a traffic light....
thanks Sooner that was a fantastic definition of price movement as it relates to PP..highly appreciated.
  • #212,512
  • Mar 17, 2010 9:09pm Mar 17, 2010 9:09pm
Quoting gatorinla
Jim He says the biggest bubbles now are in China real estate and US Treasuries.
Turned on my stereo
Same song I heard for years

When the world is running down
You make the best of whats still around


Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #212,513
  • Mar 17, 2010 9:23pm Mar 17, 2010 9:23pm
Quoting warta
SAO PAULO, March 17 (Reuters) - Brazil's central bank called an auction on Wednesday to buy U.S. dollars on the spot foreign exchange market as part of an ongoing effort to boost international reserves and limit currency market volatility
They go to market every day to keep the reserves.
TOday started at 15h35 and finished at 15h45., local time
  • #212,514
  • Mar 17, 2010 9:33pm Mar 17, 2010 9:33pm
Action Reaction lines let me know your thoughts found these interesting.
http://www.forexfactory.com/showthre...=1#post3561548

looking at buy here.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-031710-1.gif Size: 26 KB
Click to Enlarge Name: eurusd-031710-2.gif Size: 31 KB
Click to Enlarge Name: eurusd-031710-3.gif Size: 32 KB
Click to Enlarge Name: eurusd-031710-4.gif Size: 31 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #212,515
  • Mar 17, 2010 9:36pm Mar 17, 2010 9:36pm
We are in the final stages of a reverse triangle. In these triangles support will form at the median lines drawn between the 2 extremes and the thrust out of a reverse triangle has the same strength and furiosity as of a contracting triangle except its a mirror switch of a contracting environment. They are different than expanding triangles not from a shape perspective, but from a behaviour perspectiv. In expanding triangles the last wave drags in time very much and breaks the lower trendline and is much more complex than these triangles.

Current recommendation is buy at 3650 to 3700 zone on every low that is being made. Basically we will see a reversal at the circled zone.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.GIF Size: 21 KB
  • #212,516
  • Mar 17, 2010 9:38pm Mar 17, 2010 9:38pm
Quoting eaglestar
Action Reaction lines let me know your thoughts found these interesting.
http://www.forexfactory.com/showthre...=1#post3561548

looking at buy here.
looks good for buy to me ....but please don't listen to me I'm hardcore newbie, but I'm working on it
  • #212,517
  • Mar 17, 2010 9:46pm Mar 17, 2010 9:46pm
Quoting petehnm
looks good for buy to me ....but please don't listen to me I'm hardcore newbie, but I'm working on it
Pete if you have not already done so, a visit to babypips might be of some assistance to you. They have a very well laid out set of documents that explain some of the most basic concepts that can seem so arcane at first as well as help you understand the acronyms and lingo you will encounter in this forum as well as others.

Back on topic I want to see what happens when we get back to the previous support level at 1.3728 or so. We have S1 as well as yesterdays low within the same general area so I am a little concerned about that being a little tough to break through during the asian session.
  • #212,518
  • Mar 17, 2010 9:55pm Mar 17, 2010 9:55pm
Quoting petehnm
looks good for buy to me ....but please don't listen to me I'm hardcore newbie, but I'm working on it
Cool thanks. You can contact me by skype from my profile if you want. Check out the site i have there or google Tim Morge or market geometry, and you will find some interesting things about lines. been learning this for a while, so might as well point you in the right direction. babypips is definately good.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #212,519
  • Mar 17, 2010 10:05pm Mar 17, 2010 10:05pm
Quoting Sooner
Pete if you have not already done so, a visit to babypips might be of some assistance to you....
actually I have been to babypips, although at this time I've just skimmed through it, will definitely put some time there now thanks agin and good luck tonight
  • #212,520
  • Mar 17, 2010 10:07pm Mar 17, 2010 10:07pm
Quoting eaglestar
Cool thanks. You can contact me by skype from my profile if you want. Check out the site i have there or google Tim Morge or market geometry, and you will find some interesting things about lines. been learning this for a while, so might as well point you in the right direction. babypips is definately good.
more knowledge is a good thing,,thank you again Eaglestar..as well good luck to you this evening.
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