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  • #259,701
  • Jun 17, 2010 2:12pm Jun 17, 2010 2:12pm
Quoting mercy seat
Ahh - you are the man with the "Diamond Formation" pattern. Yes - I like them as well. And they are commonly known as a reversal pattern. So if this would be a real "diamond" then we could see a much deeper cut down.

But I am not so shure about it - looks a bit like a "cripple rhomb".

;-)
Ok for me , next up from 65 to 94 will close long & short to see , sl above reaction high 1.2415. tp 1.2278 , will see result next morning only.

There is great indecision of the breaking the tl above or failed temporarily are enough for this taking as diamond , swings also as per too.
fontu
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #259,702
  • Jun 17, 2010 2:17pm Jun 17, 2010 2:17pm
2358.9 little bounce?
those who can, do. those who cant, talk about those who can
  • #259,703
  • Jun 17, 2010 2:22pm Jun 17, 2010 2:22pm
Quoting gatorinla
2358.9 little bounce?
Yep. And potential at 2343 as well....but if it breaks, given the steep angle of the climb, it might blow right through.
  • #259,704
  • Jun 17, 2010 2:29pm Jun 17, 2010 2:29pm
Am I the only one who is seeing the current PA as a good re-entry point for the upside potential?
  • #259,705
  • Jun 17, 2010 2:31pm Jun 17, 2010 2:31pm
I have shorts open till 2322 from 2389
  • #259,706
  • Jun 17, 2010 2:32pm Jun 17, 2010 2:32pm
Quoting Shugart
Am I the only one who is seeing the current PA as a good re-entry point for the upside potential?
Trade your plan. I see room to the North, but I'm interpreting the current PA as impending decline. But don't listen to me...you have to find your own way and style. Just don't overleverage....and set a reasonable stoploss....
  • #259,707
  • Jun 17, 2010 2:35pm Jun 17, 2010 2:35pm
Quoting PriceVolume
Trade your plan. I see room to the North, but I'm interpreting the current PA as impending decline. But don't listen to me...you have to find your own way and style. Just don't overleverage....and set a reasonable stoploss....
yeah, I'm playing it safe right now. long at 12365, SL moved to BE
  • #259,708
  • Jun 17, 2010 2:36pm Jun 17, 2010 2:36pm
http://cdn.forexfactory.com/images/attach/png.gif


2010-06-17_21h26_ EURUSD _ 015min _ (Signals + Channel x-Days + MACD).PNG (36.3 KB)



Well - interesting situation - and if this might be confirmed as beeing a "Diamond" - then we could see a much deeper cut as below todays "green horizontal line". I hope it would confirm as such a pattern. But still in doubts about. Though it really looks tempting somehow


bang bang
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-06-17_21h26_ EURUSD _ 015min _ (Signals + Channel x-Days + MACD).PNG Size: 36 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #259,709
  • Jun 17, 2010 2:37pm Jun 17, 2010 2:37pm
Anyone else seeing a head and shoulders pattern on 15, 30,1 & 4?

What do you think about it, was short earlier at 2363, but got out a breakeven as it started to climb back up.

Any news/financial reason why it might drop anytime soon?
  • #259,710
  • Jun 17, 2010 2:40pm Jun 17, 2010 2:40pm
Quoting KumoDragon
Anyone else seeing a head and shoulders pattern on 15, 30,1 & 4?

What do you think about it, was short earlier at 2363, but got out a breakeven as it started to climb back up.

Any news/financial reason why it might drop anytime soon?
Yeah. The EZ's in deep $h^t.
  • #259,711
  • Jun 17, 2010 2:43pm Jun 17, 2010 2:43pm
Quoting PriceVolume
Yeah. The EZ's in deep $h^t.

Well, ya....... I mean anything besides that, that is recent.

So, what you think head and shoulder patterns or no?
  • #259,712
  • Jun 17, 2010 2:44pm Jun 17, 2010 2:44pm
Quoting KumoDragon
Well, ya....... I mean anything besides that, that is recent.

So, what you think head and shoulder patterns or no?
Yes, I see it. The question though....is whether it plays out or not. I'm already in, so I'm just waiting...
  • #259,713
  • Jun 17, 2010 2:46pm Jun 17, 2010 2:46pm
Quoting ak4x
several of us have been watching and posting about them for some time now... old news but it still has to break and confirm... otherwise nada but a pretty picture.

...here's my swissy pic to throw in the mash while we wait looking for the (grey) 21sma to break down

Attachment
Where would you consider confirmed at? And why?

I'm thinking of either being done for the day and just letting it go and no worrying about if it happens or not, or looking to short the pattern.

Being that it's going into the dead time, dont really know if they pattern will have enough juice behind it to bet on.
  • #259,714
  • Jun 17, 2010 2:49pm Jun 17, 2010 2:49pm
Quoting PriceVolume
Yes, I see it. The question though....is whether it plays out or not. I'm already in, so I'm just waiting...
So, I'm not in now. Thinking of putting a stop order below the shoulder, so if it doesn't break down I'm not in.

What do you think break back down to the other shoulders start?
  • #259,715
  • Jun 17, 2010 2:58pm Jun 17, 2010 2:58pm
All done as per , sl at 1.2419 & tp 1.2280 & go. see you all next morning . diamond work or not .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #259,716
  • Jun 17, 2010 2:58pm Jun 17, 2010 2:58pm
My trading targets invalid if it beaks below 2332 and consolidates below it
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  • #259,717
  • Jun 17, 2010 3:00pm Jun 17, 2010 3:00pm
Quoting fontu
All done as per , sl at 1.2419 & tp 1.2280 & go. see you all next morning . diamond work or not .
fontu
  • #259,718
  • Jun 17, 2010 3:07pm Jun 17, 2010 3:07pm
See it further up to around 1.25 (between the 2 UTL's)
If it stops there I'll consider a short.......

GL to all.....

H1:

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Don't be a hero. Don't have an ego. Always question yourself
  • #259,719
  • Jun 17, 2010 3:08pm Jun 17, 2010 3:08pm
Strong trend line getting tested once again, with high volume at point 3. Idk but if it breaks through perhaps short at 1.235x?
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  • #259,720
  • Jun 17, 2010 3:15pm Jun 17, 2010 3:15pm
Slightly OB on daily chart.


Above tells us that we will not immediately see price decline, but maybe soon and for the being i would bet on a tight range (as volatility decreases during these hours), with a slight down trend, as long people take sell orders to close their positions.

However, an engulfing pattern is forming on daily charts. I would however disregard it, as there are no other bullish signs.

So the strategy is to short.
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