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  • #220,841
  • Apr 6, 2010 4:30am Apr 6, 2010 4:30am
Euro is supposed to make an upward movement before resuming the bearish move. Strong divergence there but the pa doesn't reflect it. Does this mean anything to anybody?
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  • #220,842
  • Apr 6, 2010 4:35am Apr 6, 2010 4:35am
Quoting AMuharram
Euro is supposed to make an upward movement before resuming the bearish move. Strong divergence there but the pa doesn't reflect it. Does this mean anything to anybody?
thats a bull divergence we have there. But then again, you are on 15 mins tf. I'd be more worried if it wer a 1h tf. The lesser the tf used, the less concerned I am about the move.
  • #220,843
  • Apr 6, 2010 4:35am Apr 6, 2010 4:35am
Quoting sophiaphia
1.34 won't break ...as long as gold can keep creeping back up
It will break... be patient this week maybe today US Open or tomorrow or the after tomorrow. It will down at lease 3380-3350. Patient. As you know euro still bank holiday..
  • #220,844
  • Apr 6, 2010 4:37am Apr 6, 2010 4:37am
Quoting AMuharram
Euro is supposed to make an upward movement before resuming the bearish move. Strong divergence there but the pa doesn't reflect it. Does this mean anything to anybody?
Statistically trading divergence against dominant trend is limited, it's always better to trade a divergence in line with trend ie selling a bearish divergence in a downtrend. On the other hand minute based charts are pretty random events, a 50/50 scenario.
Prices oscillate, trends persist. Trend is your friend.
  • #220,845
  • Apr 6, 2010 4:38am Apr 6, 2010 4:38am
Quoting thelws
thats a bull divergence we have there. But then again, you are on 15 mins tf. I'd be more worried if it wer a 1h tf. The lesser the tf used, the less concerned I am about the move.
Agree with you, better refer 1h, 4h or 1d tf.
  • #220,846
  • Apr 6, 2010 4:39am Apr 6, 2010 4:39am
Quoting thelws
thats a bull divergence we have there. But then again, you are on 15 mins tf. I'd be more worried if it wer a 1h tf. The lesser the tf used, the less concerned I am about the move.

here you go my friend it's very clear on the H1, price makes new lows, but the oscillator fails to make new lows.
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #220,847
  • Apr 6, 2010 4:40am Apr 6, 2010 4:40am
Quoting jsspmk
Statistically trading divergence against dominant trend is limited, it's always better to trade a divergence in line with trend ie selling a bearish divergence in a downtrend. On the other hand minute based charts are pretty random events, a 50/50 scenario.
It really depends on the tf you are using. I would trade a divergence bull or bear irregardless of trend if I see one on daily charts. THe smaller the tf, the less I am concerned about it. Statistically I can argue is that it has turned out true most of the time on daily tf. However we don't really see a lot of those in a year
  • #220,848
  • Apr 6, 2010 4:41am Apr 6, 2010 4:41am
Yeah but that lower rsi on 1h is nfp..
  • #220,849
  • Apr 6, 2010 4:42am Apr 6, 2010 4:42am
Quoting jsspmk
Statistically trading divergence against dominant trend is limited, it's always better to trade a divergence in line with trend ie selling a bearish divergence in a downtrend. On the other hand minute based charts are pretty random events, a 50/50 scenario.
Yes that is very true, the thing is it's apparent on the H1 also.
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #220,850
  • Apr 6, 2010 4:45am Apr 6, 2010 4:45am
Quoting Trading Cat
nice one yes I am trying to reach for more pipage as well but honestly if you can get 20pips per day (save) then there is no need for 50-100...
anyways good luck with that.

Good morning!


Hi Boys and Girls - hope you are doing well and everything is fine. I have just read a few posts like this one this morning - and now start / go ahead with my trading.


Exactly T-CAT - that is quite my kind of trading - good advice there - each day a few pips between 20 - 50 pips per day. Da macht man sich nicht kaputt mit. Should mean - then you do not overtrade - and you will nearly always win.

There is a certain difference between knowing almost everything and doing it - i.e. pip your views down into account.

And leverage is not a bad issue / theme as well - should be convenient to acc. size etc. of course.



So that is a thing which could be given as an advice to Mr Hatch as well. Nobody died from taking a little profit too early. But then you will do it many times a day.

And many small fish will give you a big meal with green spicy pip-sauce as well - at the end of the day.

Hatch - there is no need to do it with a bigger leverage - just because you are trying out the scalping methods.

Hatch - it is always good to have much more gun powder in account - in case you are forced to repair your Break Even.

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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #220,851
  • Apr 6, 2010 4:46am Apr 6, 2010 4:46am
Quoting thelws
It really depends on the tf you are using. I would trade a divergence bull or bear irregardless of trend if I see one on daily charts. THe smaller the tf, the less I am concerned about it. Statistically I can argue is that it has turned out true most of the time on daily tf. However we don't really see a lot of those in a year
That is true. As long as you are Ok with limited odds, then trading divergences either way is Ok I suppose. Personally I would rather wait for a divergence which is in line with main trend as that eliminates overtrading and more importantly provides larger oscillations.
Prices oscillate, trends persist. Trend is your friend.
  • #220,852
  • Apr 6, 2010 4:48am Apr 6, 2010 4:48am
Quoting sophiaphia
1.34 won't break ...as long as gold can keep creeping back up
Apparently so with extreme resistant to this level & so only removing my temporary tp set before to 1.3380 . once break will not back again much this level & so better stay oneway ( pending buy also removing) ,even back to 1.3445 or up next time . Just placing extra pending shorts above.
Now tp open . see you all in the evening.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #220,853
  • Apr 6, 2010 4:49am Apr 6, 2010 4:49am
Ok, if we are talking about big time frames, what do you guys think about this?
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"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #220,854
  • Apr 6, 2010 4:56am Apr 6, 2010 4:56am
Well - back to the market - I am quite content with my estimation this morning during Asian Session - as I got that feeling and I closed all my positions at 3433 - just because I got the idea that it lacks steam there and I was not dreaming of too much ambitious targets anymore.

At least later - much later we can see one more grind to the upside. But we will see.

Here is something to read if you like in the time between.


bibib


Intraday :


EUR/USD:


The setback off the Apr. 1 high at 1.3592 is looking to extend the near-term bear tone and put pressure on the Mar. 31 higher low at 1.3384. Below there would confirm a bull failure high at 1.3592, and prompt further weakness towards the 1.618 extension target at 1.3317, which stands in front of the 2010 low at 1.3267 set in late March. Above 1.3497 would provide respite, although only above the 1.3529 lower high would question the bearish outlook.

Weekly chart EUR/USD trend : Bearish.



For more information click & download here:
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #220,855
  • Apr 6, 2010 4:58am Apr 6, 2010 4:58am
Quoting AMuharram
Ok, if we are talking about big time frames, what do you guys think about this?
My opinion is that it shows potential of upside bounce which may or may not lead to a reversal of current down trend. Yet it is a counter trend formation so I would pass on it.
Prices oscillate, trends persist. Trend is your friend.
  • #220,856
  • Apr 6, 2010 5:02am Apr 6, 2010 5:02am
Quoting mercy seat
Well - back to the market - I am quite content with my estimation this morning during Asian Session - as I got that feeling and I closed all my positions at 3433 - just because I got the idea that it lacks steam there and I was not dreaming of too much ambitious targets anymore.

At least later - much later we can see one more grind to the upside. But we will see.

Here is something to read if you like in the time between.


bibib


Intraday :


EUR/USD:


The setback off the Apr. 1 high at 1.3592 is looking to extend the...

Ooops - sorry upload went wrong


http://cdn.forexfactory.com/images/attach/pdf.gif 2010-04-06_European Forex Technicals.pdf (9.0 KB)


For more information click & download here:


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File Type: pdf 2010-04-06_European Forex Technicals.pdf   9 KB | 425 downloads
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #220,857
  • Apr 6, 2010 5:04am Apr 6, 2010 5:04am
Because the whole world is expecting inflation at some point in the not so distant future Gold may rise alongside USD. It's an ultimate hedge against default of the US, oil needs expanding economy or falling supply vs demand, gold is just a historical item which will prevail if paper money was to go through some sort of major crisis. Prokhorov on Bloomy last night said that his production costs are $400 per ounce.
Prices oscillate, trends persist. Trend is your friend.
  • #220,858
  • Apr 6, 2010 5:05am Apr 6, 2010 5:05am
Quoting jsspmk
My opinion is that it shows potential of upside bounce which may or may not lead to a reversal of current down trend. Yet it is a counter trend formation so I would pass on it.
same thoughts exactly. However I would probably take the ride if I can see something forming. I could always be wrong. But thats ok as well

What really irritates me is that the market has been sideways for the past 2 months and it still is until now. I'm really beginning to lose patience....
  • #220,859
  • Apr 6, 2010 5:08am Apr 6, 2010 5:08am
Quoting thelws
same thoughts exactly. However I would probably take the ride if I can see something forming. I could always be wrong. But thats ok as well

What really irritates me is that the market has been sideways for the past 2 months and it still is until now. I'm really beginning to lose patience....
That indeed is very irritating, no real direction
"The Side that Knows When to Fight and When Not to, Will Take the Victory"
  • #220,860
  • Apr 6, 2010 5:09am Apr 6, 2010 5:09am
over 600pips is a sideways?

Quoting thelws
What really irritates me is that the market has been sideways for the past 2 months and it still is until now. I'm really beginning to lose patience....
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