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  • #262,981
  • Jun 24, 2010 11:25am Jun 24, 2010 11:25am
Quoting vanyxster
H&S is valid patern BUT on top of trend not at bottom ;D .... don't get suprised when that right shoulder start to grow ... let it settle abit then judge it..my 2 cents
Wait and see bro
  • #262,982
  • Jun 24, 2010 11:25am Jun 24, 2010 11:25am
Quoting bagpuss
If you have to draw the head and shoulders yourself like that, it kinda means there's nothing there - and that is not a head and shoulders.

1.2350 significant resistance turned support turned resistance has broken again.
We`ll se

Do you see m30, H1 and H4 bearish divergence ?
  • #262,983
  • Jun 24, 2010 11:26am Jun 24, 2010 11:26am
Quoting Amie_Senior
Just remember what i told you right this early morning !

Great call on the Long! Enable your PM; I'll send you a message.
  • #262,984
  • Jun 24, 2010 11:28am Jun 24, 2010 11:28am
Quoting netrader06
Take your profits soon on this pullback from those 1.2318 entries shorts. 1.2281 might be your last chance before 1.2341.
I would take a sell position now.
  • #262,985
  • Jun 24, 2010 11:31am Jun 24, 2010 11:31am
Quoting cagriguler
Wait and see bro
only thing i see it will accumulate more longs @ 2350 ....... it has been tested & finaly broken after 3 days : ) ...waiting test from upside to add on it
  • #262,986
  • Jun 24, 2010 11:32am Jun 24, 2010 11:32am
Quoting Hound
I did the same. I was waiting for it break above TL which was right around 1.2330 but I chickened out.



This Pair has been burning me here lately whenever I take a Long.
agree...i do think again before going long on this....too bad
  • #262,987
  • Jun 24, 2010 11:32am Jun 24, 2010 11:32am
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  • #262,988
  • Jun 24, 2010 11:34am Jun 24, 2010 11:34am
Quoting netrader06
I would take a sell position now.

Yep, I agree and just shorted more to my numurous short positions. Had an Entry order that hedged from 1.2365 and exited at 1.2382. (short scalp I guess)

Seems like a false signal from the bulls, and just in case got another Hedge position to start from 1.24 even.
  • #262,989
  • Jun 24, 2010 11:34am Jun 24, 2010 11:34am
Quoting Amie_Senior
Just remember what i told you right this early morning !

No offense, but anyone could've made that call and have been right about half the time.
  • #262,990
  • Jun 24, 2010 11:34am Jun 24, 2010 11:34am
Quoting cagriguler
Attachment
There is hidden divergence on h4 but now i see h1 double BULLISH divergence. That drives it UP
  • #262,991
  • Jun 24, 2010 11:35am Jun 24, 2010 11:35am
I get the feeling it's going to head down but I'm not sure any other comments?
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I operate with clear definite rules, if I break them I lose BIG!
  • #262,992
  • Jun 24, 2010 11:37am Jun 24, 2010 11:37am
Quoting PipMaxzz
agree...i do think again before going long on this....too bad
Since April this pair has not been kind to me. To give you an idea; even on Short positions I lost money when it fell from 1.34 to the recent lows. Maybe I should stick with the USD/JPY and AUD/USD for awhile, they have been good to me this year.
  • #262,993
  • Jun 24, 2010 11:38am Jun 24, 2010 11:38am
Quoting Mr J
No offense, but anyone could've made that call and have been right about half the time.

Sorry buddy, but you were the one posting 2 hours ago that you were clueless about this PA, while a few of us actually posted trade scenarios including levels to hit.

So now don't have a go at guys that actually know how to trade and make money.

Why don't you put on some revenge trades, heard that it clears the system and provides clarity for the clueless.

So actually I do take offense.
  • #262,994
  • Jun 24, 2010 11:40am Jun 24, 2010 11:40am
Momentum and Osma divergence negated h4. Triple hidden divergence rushed PA up. It will drop on exhaustion of momentum

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  • #262,995
  • Jun 24, 2010 11:41am Jun 24, 2010 11:41am
Quoting Icannaesee
I get the feeling it's going to head down but I'm not sure any other comments?
Talking shorterm? After that kind of rise, it's more likely to retrace than to continue much further. I think a short here to 2300 and stop at 2400 wouldn't be a bad play. Not my play though.

Quoting cloggie
So now don't have a go at guys that actually know how to trade and make money.
I never said I couldn't trade, I said it was an uncertain time for me. If you're honest, you'll have those. I'm honest, and I'll admit I have plenty (at least shorterm, my medium-long outlooks are usually much clearer). And I wasn't being critical, just pointing out the insignificance of a single call (it wasn't even a call, just a direction). Nice attitude.
  • #262,996
  • Jun 24, 2010 11:41am Jun 24, 2010 11:41am
Quoting 4xmaker
Yep, I agree and just shorted more to my numurous short positions. Had an Entry order that hedged from 1.2365 and exited at 1.2382. (short scalp I guess)

Seems like a false signal from the bulls, and just in case got another Hedge position to start from 1.24 even.


But just keep in mind what I also said yesterday. This would be a short term sell with a tight SL around 1.2397.

I just copied and pasted the quote from yesterday.

OK....Look at the big picture and don't forget how this pair ran upwards month after month for nearly 3 straight years that made a down move look impossible. Add the fact that there is a significant resistance on the weekly charts that should be hit some time in the near future @ about 1.2620 before any signficant further break of a yearly low that has just been made a couple of weeks ago. Now add the fact that the overwhelming biased by most traders here and on other threads seems to be the short play and that the overwhelming majority of retail traders fail and there ya have a pretty good case to consider a buy position. I will play my own strategy by the rules of course as we all should, but since you asked......http://cdn.forexfactory.com/images/s...m/big_grin.gif

As I said.....Just to keep that in mind.
  • #262,997
  • Jun 24, 2010 11:41am Jun 24, 2010 11:41am
Very good experience to learn this time from this pair:

Trend is down, Divergence everywhere, European stocks are negative, dow is down, S&P 500 is down, Problems remain with greece, spain..etc. Fed maintain its rate, USD/JPY is down. Financial catastroph in and outside Europe, and with all that, EUR is going higher! The only technical explanation i found is that retrace did not touch 50%. Usually, it should be confirmed by at least three or four other indications to see the long. Here, i can say that there is something strange is happening. Nice to follow and to learn.
No Signal, No Trade. No fundamenals, No headache.
  • #262,998
  • Jun 24, 2010 11:42am Jun 24, 2010 11:42am
my point of view at this moment. still something down before up would be the best...
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  • #262,999
  • Jun 24, 2010 11:42am Jun 24, 2010 11:42am
Inserted Video



Learn to drink guys
  • #263,000
  • Jun 24, 2010 11:47am Jun 24, 2010 11:47am
Quoting trigg
Enter Short at 1.2363 with 5 positions.
Hey - and what are you doing now ... ??

Better run and go with a few pips
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