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  • #11,781
  • Apr 27, 2010 2:01pm Apr 27, 2010 2:01pm
Quoting simpleman
Hi Erikte,

Thanks for that but I just started my demo yesterday with a first succesful trade. As my understanding and confidence grows I will be able to make better decisions on what and when to take OR leave and I have not forgotten that I have given myself last chance, if I am not succesful this time then I will be out of this business as it won't be for me then.
I have not forgotten that I have given myself last chance, if I am not succesful this time then I will be out of this business as it won't be for me then.

It is your choice to say this but unless you have been learning a profitable method of trading, you need much more determination to be successful at trading.

See my PM and:

QUITTERS NEVER WIN AND WINNERS NEVER QUIT

15 YEARS OF PASR ON FOREX FACTORY!
  • #11,782
  • Apr 27, 2010 2:15pm Apr 27, 2010 2:15pm
Quoting simpleman
Hi Strat,


Sunday bars and internal bars have been mentioned on several occassions on this thread and therefore I have kind of feeling that I do understand them, but I didn't realize that I have crossed the limit of basic PASR. May be it is downside of reading the thread from the beginng to the point where basic merges with advance and those who were around were discussing it freely, so it took for granted. If basic PA is SS and Hammer then I better follow them only till the time comes when they are profitable for me.

I had cancelled my demo...
Sunday bars and internal bars have been mentioned on several occassions on this thread and therefore I have kind of feeling that I do understand them,

I have a “kind of feeling” that I understand women and then I go home and talk to the trouble and strife and realise I know NOTHING about women!


If basic PA is SS and Hammer then I better follow them only till the time comes when they are profitable for me.

If this is your understanding of what is being taught on here you SERIOUSLY do need to GO BACK and read and UNDERSTAND what IS being taught.

I am trying to be technical analyst that is why I am on this thread learning from you and others. But at the same time if I see DXY with bullish PA then I will have to assume that EURUSD/GBPUSD (not USDCAD/CHF) will go to the opposite side even with PA or vice versa.

Sorry but you are NOT a technical analyst.

A consistent and profitable technical trader NEVER ASSUMES, HOPES, THINKS OR PRAYS or any other intangible guesstimate of what a financial instrument may or may not, do.

A consistent and profitable technical trader only trades what he SEES on his charts.
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,783
  • Apr 27, 2010 2:41pm Apr 27, 2010 2:41pm
Quoting Flem26
It is pretty pathetic. Piece of garbage couldn't even retrace to 1.38. Get out of the way bulls and let the bear train make its way to 1.29 and then onto 1.25. This monthly posturing is getting ridiculous.
Yeah, I mean 180+ pips daily range today---pathetic

It is pretty pathetic. Piece of garbage couldn't even retrace to 1.38. Get out of the way bulls and let the bear train make its way to 1.29 and then onto 1.25. This monthly posturing is getting ridiculous.

Are you guys taking the piss?

The average daily range over any period you care to choose is between 110 to 120 pips!

I will gladly take 180 pips any day – I just wish she would give us the sign first!
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,784
  • Apr 27, 2010 2:46pm Apr 27, 2010 2:46pm
[quote=strat;3676505]


If basic PA is SS and Hammer then I better follow them only till the time comes when they are profitable for me.

If this is your understanding of what is being taught on here you SERIOUSLY do need to GO BACK and read and UNDERSTAND what IS being taught.

Hi Strat,
I got it and have re-read the very first post just now and it is definitely more then SS & Hammer . I will keep my self within that framework today is just a bad (jelly fish) day.

I know at some point I will have to re-read the whole thread again.
  • #11,785
  • Apr 27, 2010 3:01pm Apr 27, 2010 3:01pm
Quoting strat
[b][i][color=blue][font=Arial] I just wish she would give us the sign first!
I heard that. These drops out of nowhere make this grown man cry. I wonder how many accounts have been blown by this pair since Friday.
"Don't trade to trade . . . trade to win." - James16
  • #11,786
  • Apr 27, 2010 4:00pm Apr 27, 2010 4:00pm
All singing off the same hymn sheet!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #11,787
  • Apr 27, 2010 5:05pm Apr 27, 2010 5:05pm
Theres been some good movement today, I see nothing worth taking though.
Annoying Precision
  • #11,788
  • Apr 27, 2010 5:10pm Apr 27, 2010 5:10pm
Quoting Flem26
I heard that. These drops out of nowhere make this grown man cry. I wonder how many accounts have been blown by this pair since Friday.
The sign WAS there, just not on our time frame!
15 YEARS OF PASR ON FOREX FACTORY!
  • #11,789
  • Apr 27, 2010 10:37pm Apr 27, 2010 10:37pm
The Big Boss has made a retrace from the 119.70ish level up to the fib 38.2 around 127.80ish and possibly has completed this retrace and begun the continuation of the major downtrend line from August 2008.

Boss has been trending down over the last four weeks with most of the trading taking place below the 20ma.

Worker has been put in a two-legged retracement back to the 127.80ish level (indicated by the HH's & HL's at points 1,2,3,4,5). The market formed a double top (A) when Price failed to make another HH above the swing top at (4).

After forming the double top in the general area of a major resistance level, fib 38.2, and at the downtrend line, price commenced bearish trending action indicated by the LL's and LH's recently. (See candles A,B,C). Yesterday's action produced a massive 350pip bear candle that dwarfed everything in the last few days and was approximately equal to the other two pushes down at candle 4 and A.

Before this candle, the uptrend line shown at 1-3-B had still not been violated with a close below it. Yesterday's candle indicated a lot of bearish strength with the move plus how far it closed below the trendline.

Would this price action indicate a high probability that the retracement is over and the major downtrend has resumed, or would it be still considered to be retracing until point 3 is violated to the downside?

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  • #11,790
  • Apr 27, 2010 11:49pm Apr 27, 2010 11:49pm
Quoting PistolDave
The Big Boss has made a retrace from the 119.70ish level up to the fib 38.2 around 127.80ish and possibly has completed this retrace and begun the continuation of the major downtrend line from August 2008.

Boss has been trending down over the last four weeks with most of the trading taking place below the 20ma.

Worker has been put in a two-legged retracement back to the 127.80ish level (indicated by the HH's & HL's at points 1,2,3,4,5). The market formed a double top (A) when Price failed to make another HH above the swing top at (4).

After...
I would say that the big boss is saying 'don't go short until I break that TL pointing up!'

The boss and worker are both now saying they want to be short.

Larry
  • #11,791
  • Apr 28, 2010 12:35am Apr 28, 2010 12:35am
[quote=strat;3676437]
Quoting stewrigh
Strat,



Look at the spike on your dollar chart and what price did - exactly nothing.

Am I missing something again?

PRICE doing NOTHING on a lot of VOLUME tells those that know, A LOT!

Never, EVER, discount or ignore anything to do with PRICE or VOLUME (Futures or Commodity - NOT Forex) on a chart.

These are the footprints we follow!
Thanks Strat,

I don't discount volume - just don't understand it.

If I traded commodities or futures I might have to learn it though.
  • #11,792
  • Apr 28, 2010 6:50am Apr 28, 2010 6:50am
Last week I presented my triangles theory about this pair.The price hit the confluence of 2 triangles,yesterday closed as hanging man and today(not closed yet) is a rejection (could be a beob,will see) from the confluence.For me is the first sign that the price could take a down direction.On my data I have a stong SR level at 1.64.I will wait to see what will happening at 1.64 and if PA will show me some dowm move I will take it,looking to 1.59-1.60 with a station at 1.62(but all depends of PA).The boss shows LH,LL.If the price can't go under 1.64,I will watch what it will do only above 1.66.Anyway I will wait and take what the price gives me,and for both(up/down) situations I have a plan including tight MM.Thanks.
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My humble opinion.
  • #11,793
  • Apr 28, 2010 7:28am Apr 28, 2010 7:28am
Quoting igmal
Last week I presented my triangles theory about this pair.The price hit the confluence of 2 triangles,yesterday closed as hanging man and today(not closed yet) is a rejection (could be a beob,will see) from the confluence.For me is the first sign that the price could take a down direction.On my data I have a stong SR level at 1.64.I will wait to see what will happening at 1.64 and if PA will show me some dowm move I will take it,looking to 1.59-1.60 with a station at 1.62(but all depends of PA).The boss shows LH,LL.If the price...
You won't win any friends on here talking about hanging men - LOL.

Just a friendly hint
  • #11,794
  • Apr 28, 2010 7:59am Apr 28, 2010 7:59am
Quoting stewrigh
You won't win any friends on here talking about hanging men - LOL.

Just a friendly hint
Well that was possible PA for a reversal although that candle shape always needs subsequent confirmation which it is in the process of getting so far today, but today is not over yet so lets see shall we.

Why do we not consider the hanging man candle worthwhile PA?

Larry
  • #11,795
  • Apr 28, 2010 8:03am Apr 28, 2010 8:03am
Hi Strat!For those who trade patterns,the evening star on xagusd could have been a good entry?In my opinion it has even a good position:the upper part of weekly triangle,it is making LH and in the range of weekly beob.
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My humble opinion.
  • #11,796
  • Apr 28, 2010 8:04am Apr 28, 2010 8:04am
Quoting LarryK
Well that was possible PA for a reversal although that candle shape always needs subsequent confirmation which it is in the process of getting so far today, but today is not over yet so lets see shall we.

Why do we not consider the hanging man candle worthwhile PA?

Larry
Bcos its unreliable.

9 times out of 10 it fails.

Ask Strat(or Bones) for their views.
  • #11,797
  • Apr 28, 2010 8:16am Apr 28, 2010 8:16am
Quoting LarryK
Well that was possible PA for a reversal although that candle shape always needs subsequent confirmation which it is in the process of getting so far today, but today is not over yet so lets see shall we.

Why do we not consider the hanging man candle worthwhile PA?

Larry
Hey Larry,
I think we consider the hanging man as a warning sign of possible supply pressure but not as a signal to go short as it isn't as reliable as our other basic PA bars around S and R. I think Strat says to consider taking partial profits or tighten up stops depending on where in the trend you are.

There was a "knock em down drag em out" series of posts (starts around 7472) where Strat covered the hanging man when someone tried to trade it (GBP/USD if I remember correctly) and although the trade worked out he said that any doji candle would have worked at that particular place in the chart and to not trade the hanging man in isolation.

Hope this helps a bit. Cheers.

John
Finally out of the shadows.
  • #11,798
  • Apr 28, 2010 8:31am Apr 28, 2010 8:31am
Quoting gaf
Hey Larry,
I think we consider the hanging man as a warning sign of possible supply pressure but not as a signal to go short as it isn't as reliable as our other basic PA bars around S and R. I think Strat says to consider taking partial profits or tighten up stops depending on where in the trend you are.

There was a "knock em down drag em out" series of posts (starts around 7472) where Strat covered the hanging man when someone tried to trade it (GBP/USD if I remember correctly) and although the trade worked out he said that any doji candle...
I agree.That's why I said that I will wait to see if today closes as beob(confirmation of hanging man),and personally I won't enter anyway,because I have a strong 1.64(R:R wouldn't agree with MM),but it will be my first sign of a down move.Thanks.
My humble opinion.
  • #11,799
  • Apr 28, 2010 9:30am Apr 28, 2010 9:30am
OK I accept what you guys say, but I did say it needed confirmation and obviously if you don't like what you see then you leave it!

All the action seemed to be around some SR is all and PA at SR is what we look for.

I suppose the boss is also going to crap on me now as well.

Larry
  • #11,800
  • Apr 28, 2010 11:06am Apr 28, 2010 11:06am
Quoting PistolDave
The Big Boss has made a retrace from the 119.70ish level up to the fib 38.2 around 127.80ish and possibly has completed this retrace and begun the continuation of the major downtrend line from August 2008.

Boss has been trending down over the last four weeks with most of the trading taking place below the 20ma.

Worker has been put in a two-legged retracement back to the 127.80ish level (indicated by the HH's & HL's at points 1,2,3,4,5). The market formed a double top (A) when Price failed to make another HH above the swing top at (4).

After...
The Big Boss has made a retrace from the 119.70ish level up to the fib 38.2 around 127.80ish and possibly has completed this retrace and begun the continuation of the major downtrend line from August 2008.

Now do the fib on the Jan 09 to Jun 09 move and you will see that Feb and March this year stopped at the critical 78.6% level. This tells us that the move up from Jan 09 is still intact. Its not looking good but it is still valid and will remain so until that 78.6% level is broken.

Boss has been trending down over the last four weeks with most of the trading taking place below the 20ma.

Its just been drifting sideways in that 119 to 128 channel.

Worker has been put in a two-legged retracement back to the 127.80ish level (indicated by the HH's & HL's at points 1,2,3,4,5). The market formed a double top (A) when Price failed to make another HH above the swing top at (4).

After forming the double top in the general area of a major resistance level, fib 38.2, and at the downtrend line, price commenced bearish trending action indicated by the LL's and LH's recently. (See candles A,B,C). Yesterday's action produced a massive 350pip bear candle that dwarfed everything in the last few days and was approximately equal to the other two pushes down at candle 4 and A.

Before this candle, the uptrend line shown at 1-3-B had still not been violated with a close below it. Yesterday's candle indicated a lot of bearish strength with the move plus how far it closed below the trendline.

Worker now drifting sideways in a smaller channel

Would this price action indicate a high probability that the retracement is over and the major downtrend has resumed, or would it be still considered to be retracing until point 3 is violated to the downside?

The answer is under the Big Boss plus there is no real direction or momentum on this pair yet – seems to have fallen out of favour with the big boys.
15 YEARS OF PASR ON FOREX FACTORY!
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