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  • #240,341
  • May 11, 2010 9:10am May 11, 2010 9:10am
Quoting Trading Cat
open your 1hr chart and tell me what you see? 07.05.10 shoulder head 10.05.10 potential shoulder 11.05.10 now retest of the shoulder in 2800 area.
Look I can be very wrong and that happens a lot also the H&S formation is not my favourite I prefer double tops and bottoms.
Hmm.. I noticed it how many people abuse H&S formation

Im not an expert, but for me, this formation has place in an up trend, and this does not look like it, were just above the bottom, from my experience... I read a lot of H&S formation alerts when no uptrend and they all went to trash

Dunno how now, but never do short when it looks like going through neck line already

Cheerz
  • #240,342
  • May 11, 2010 9:20am May 11, 2010 9:20am
Icelandic volcanic ash travelled to North Africa, Airports in Morocco, Spain and Turkey shut down
Great Bodies are Engineered not Born
  • #240,343
  • May 11, 2010 9:22am May 11, 2010 9:22am
Quoting Trading Cat
open your 1hr chart and tell me what you see? 07.05.10 shoulder head 10.05.10 potential shoulder 11.05.10 now retest of the shoulder in 2800 area.
Look I can be very wrong and that happens a lot also the H&S formation is not my favourite I prefer double tops and bottoms.
That's not H&S.
We're in downtrend and if it would be forming H&S head would be below shoulders. This looks more like a double bottom (if searching for trend reversal pattern).
big numbers are our friends...
  • #240,344
  • May 11, 2010 9:27am May 11, 2010 9:27am
Why do gold ,eurus ,usdchf gap so much in 5M? usually don't gap at this time of the day.
  • #240,345
  • May 11, 2010 9:28am May 11, 2010 9:28am
Quoting Z3iz3i
I have scalped $hitloads for both directions, easy stuff when the sentiment and trend is so strong.
Ah, I'm jealous. Just got up and have only had time to make one scalp before work.

Out of curiousity: how many of you here trade for a living and how many have jobs? I know a lot of you have to trade full-time because you post 24/7 lol
  • #240,346
  • May 11, 2010 9:31am May 11, 2010 9:31am
Quoting deeZG
That's not H&S.
We're in downtrend and if it would be forming H&S head would be below shoulders. This looks more like a double bottom (if searching for trend reversal pattern).
ok thanks also to "predi"
well I mean the Trend on the daily is very much down on the hrly we could have just made a higher low at 2666 with the previous higher high at 3090 trend up, 15min trend down lower highs and lower lows.

Just looking at €chf they are already back in selling mode which ultimately will bring down €$, just hope that €chf get back up to above 4126.
Trade on your own risk Plan your trade&trade your plan dont be a
  • #240,347
  • May 11, 2010 9:32am May 11, 2010 9:32am
hs , validation ahead , carefull longers .
fontu
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #240,348
  • May 11, 2010 9:36am May 11, 2010 9:36am
how low do we go this time?
  • #240,349
  • May 11, 2010 9:37am May 11, 2010 9:37am
Quoting Trading Cat
ok thanks also to "predi"
well I mean the Trend on the daily is very much down on the hrly we could have just made a higher low at 2666 with the previous higher high at 3090 trend up, 15min trend down lower highs and lower lows.

Just looking at €chf they are already back in selling mode which ultimately will bring down €$, just hope that €chf get back up to above 4126.
I'm seeing that as broken H1 uptrend line. That's why I asked you about testing that one from the bottom.
Attached Image (click to enlarge)
Click to Enlarge Name: 2010_05_11_eurusd_h1.gif Size: 26 KB
big numbers are our friends...
  • #240,350
  • May 11, 2010 9:39am May 11, 2010 9:39am
So many ppl still shorting the EURO!

Just to take note, GREECE GDP contributes 2% of EURO economy.
SPAIN GDP contributes 9% of EURO economy
Portugal GDP contributes only 2% as well. Italy GDP contributes about 9% too.

So the PIIGS are contributing only 25% of the EURO economy.

Now let's see the US.

California contributes that much too!....

EURO growth is actually about the same as the US.

No doubt, US growth will beat EURO this year, however, this massive sell off is really just speculation.

However, i wont fight the big boys. I will go with them. But i think we need to be careful selling the EURO, as the Central banks will fix this soon. The EURO is also harming the US capital markets. It is thus the FEDs interest too that the EURO does not suffer. So I got a feeling SWAPS are already agreed upon, and the EURO might rebound soon.
  • #240,351
  • May 11, 2010 9:40am May 11, 2010 9:40am
the retraces are way to shallow did not even manage to get to 2750 let alone 2770
Trade on your own risk Plan your trade&trade your plan dont be a
  • #240,352
  • May 11, 2010 9:45am May 11, 2010 9:45am
And we still have a series of LHs and LLs on M15. Nothing significant, but there they are.

H1 bounced of 21EMA.
big numbers are our friends...
  • #240,353
  • May 11, 2010 9:49am May 11, 2010 9:49am
Quoting Cotton-I-Jo
Very Nice area 4 Loading ....LONG....!





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Attached Image (click to enlarge)
Click to Enlarge Name: EUR.USd - H4 (1).jpg Size: 222 KB
  • #240,354
  • May 11, 2010 9:51am May 11, 2010 9:51am
This could turn into a WTF moment. We'll see....
  • #240,355
  • May 11, 2010 9:53am May 11, 2010 9:53am
Quoting PriceVolume
This could turn into a WTF moment. We'll see....
What do you mean?
big numbers are our friends...
  • #240,356
  • May 11, 2010 9:54am May 11, 2010 9:54am
beware usdcad double top

and for eurusd i think next is 1.2660
  • #240,357
  • May 11, 2010 9:55am May 11, 2010 9:55am
Quoting rygel2001
how low do we go this time?
Nobody knows but back to pavillion at 1.2677/70 first , some bull efforts there again & if fail to 1.2633/00/1.2588 or any low .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #240,358
  • May 11, 2010 9:55am May 11, 2010 9:55am
new signal
Pivot: 1.277
Short positions below 1.277 with targets @ 1.2655 & 1.2605 in extension.
Alternative scenario: Above 1.277 look for further upside with 1.2845 & 1.2935 as targets.
Attached Image
  • #240,359
  • May 11, 2010 9:56am May 11, 2010 9:56am
Quoting deeZG
What do you mean?
Last upward run may have given enough buyer liquidity for bears to bust the support at 1.2666. Somebody's trying to push this over the cliff. Not a done deal....we'll see. I'm already short, if you're not then best to wait for break of support, and then get in on a pullback.
  • #240,360
  • May 11, 2010 9:59am May 11, 2010 9:59am
Quoting PriceVolume
Last upward run may have given enough buyer liquidity for bears to bust the support at 1.2666. Somebody's trying to push this over the cliff. Not a done deal....we'll see. I'm already short, if you're not then best to wait for break of support, and then get in on a pullback.
I am, I was just wondering what you had on mind
big numbers are our friends...
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