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  • #7,081
  • Jun 27, 2010 9:47am Jun 27, 2010 9:47am
Quoting Custos
why would it? they said anything surprising during G20?
not yet ...the final draft must be coming soon .... lets see what they have cooked so far
  • #7,082
  • Jun 27, 2010 9:50am Jun 27, 2010 9:50am
Quoting MktScape
not yet ...the final draft must be coming soon .... lets see what they have cooked so far
so then what made you conclude that price will jump today, if there has not been a surprise announcement, just because of the G20 meeting itself? Can you please clarify?

cheers
  • #7,083
  • Jun 27, 2010 10:03am Jun 27, 2010 10:03am
Quoting Custos
so then what made you conclude that price will jump today, if there has not been a surprise announcement, just because of the G20 meeting itself? Can you please clarify?

cheers
There have been strong disagreements especially on payment of debt strategy or growth based strategy. IMF is pushing for, of course, payment of debt first , U.S is pro growth and pay debt later. A summit agreement to adopt hard targets on debt and deficit is still up in the air.

The final communique to be issued late Sunday afternoon let see what happens. given all this mixed messages i was feeling that price may jump on opening. But nothing for sure.
  • #7,084
  • Jun 27, 2010 10:09am Jun 27, 2010 10:09am
Quoting MktScape
There have been strong disagreements especially on payment of debt strategy or growth based strategy. IMF is pushing for, of course, payment of debt first , U.S is pro growth and pay debt later. A summit agreement to adopt hard targets on debt and deficit is still up in the air.

The final communique to be issued late Sunday afternoon let see what happens. given all this mixed messages i was feeling that price may jump on opening. But nothing for sure.
yep, I agree. Yeah, as you said, hard targets won't be agreed upon, so I think in the end nothing will change after the G20. But of course only price can let us see if it jumped or not due to the G20 meeting.

cheers
  • #7,085
  • Jun 28, 2010 3:10am Jun 28, 2010 3:10am
Here is my chart Custos...
Attached Image (click to enlarge)
Click to Enlarge Name: eusr2.gif Size: 14 KB
  • #7,086
  • Jun 28, 2010 3:12am Jun 28, 2010 3:12am
Quoting Pip26
Here is my chart Custos...
yeah looks good
  • #7,087
  • Jun 28, 2010 3:15am Jun 28, 2010 3:15am
Quoting Custos
yeah looks good
okay Custos thanx
  • #7,088
  • Jun 28, 2010 7:41am Jun 28, 2010 7:41am
Hola All,

sorry my postings and visits to the thread will be intermittent as my mobility is slightly impaired at the moment whilst recovering.

Just some of the levels at 4hr / daily I am keeping a eye on:

EUR/JPY short 111.50 (conf: TL, R-level, RN, Fib50) as market gets closer, CTL, volume, momentum and news will play a role.

GBP/JPY: seems to be in an interesting spot - working itself into a tight triangle on Day TF, coinciding with (conf: TL, R-level, RN, Fib50) Also have a look at weekly levels of this chart, looks like a good retrace running out of steam. See attached chart.

NOTE: USD/JPY is knocking a a weekly Support level at the moment, if JPY manages to break through, these JPY pairs above will certainly follow the strength.

EUR/USD I am looking to short in the price area 1.235 (where it is now), waiting for the retest of the 1.2350 level and US open to occur. It's sitting on my CTL, RN-x-R-level - will keep watching it for now;

GBP/USD: see attached chart - slight variation on my strategy as Fibs are not included, but touch of up-channel, strong R-level & RN.

AUD/USD: am still waiting on it to dip below .87, similar concept of confluence required.

I think as soon as some Dollar strength returns all these instruments are going to go wild at the same time...

Anyway - just thought I would share... Also testing away on FT like a "pip-looney" to get the S/R strat for 1hour going with confidence.

Trade safe
P
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy day 28 june 2010.jpg Size: 236 KB
Click to Enlarge Name: gbpusd 4hr 28 june 2010.jpg Size: 211 KB
  • #7,089
  • Jun 28, 2010 8:41am Jun 28, 2010 8:41am
Quoting Paulette
Hola All,

sorry my postings and visits to the thread will be intermittent as my mobility is slightly impaired at the moment whilst recovering.

Just some of the levels at 4hr / daily I am keeping a eye on:

EUR/JPY...
your setups are very good.
  • #7,090
  • Jun 28, 2010 8:51am Jun 28, 2010 8:51am
interesting trades on gbp/aud h1.

There you can see that if you stay flexible you can profit from a break of S/R level as well.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud 28.6.2010.gif Size: 20 KB
  • #7,091
  • Jun 28, 2010 9:31am Jun 28, 2010 9:31am
Quoting Paulette
Hola All,

sorry my postings and visits to the thread will be intermittent as my mobility is slightly impaired at the moment whilst recovering.

EUR/USD I am looking to short in the price area 1.235 (where it is now), waiting for the retest of the 1.2350 level and US open to occur. It's sitting on my CTL, RN-x-R-level - will keep watching it for now;


Trade safe
P
Nice charts. I think that EUR/USD level has been used-and-abused a bit too much, personally. Anything between 1.2263 and 1.2390 is noise between hourly pivots at this point. Of course I could be wrong, but just mentioning it wouldnt be the cleanest of trades.
  • #7,092
  • Jun 28, 2010 9:36am Jun 28, 2010 9:36am
Quoting randomperson
Nice charts. I think that EUR/USD level has been used-and-abused a bit too much, personally. Anything between 1.2263 and 1.2390 is noise between hourly pivots at this point. Of course I could be wrong, but just mentioning it wouldnt be the cleanest of trades.
hm, yes it has been used a lot, but the level still gets respected. Price still uses it as support and resistance.

Attached is eur/usd h1. Look at the orange marked area.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1 28.6.2010.gif Size: 25 KB
  • #7,093
  • Edited 11:24am Jun 28, 2010 9:59am | Edited 11:24am
Quoting Custos
hm, yes it has been used a lot, but the level still gets respected. Price still uses it as support and resistance.

Attached is eur/usd h1. Look at the orange marked area.

cheers
Exactly as a result of the multiple hits on those levels, I am very careful...

No rush, even if I dont take this trade, there will be more to come...

EDIT: Nice one Custos, it is touching the support level now... ;-)
  • #7,094
  • Jun 28, 2010 12:36pm Jun 28, 2010 12:36pm
Quoting Paulette
EDIT: Nice one Custos, it is touching the support level now... ;-)
yeah, I am a god. haha, no was just luck, could also have just gone through that S/R level again.
  • #7,095
  • Jun 28, 2010 1:19pm Jun 28, 2010 1:19pm
Quoting Custos
yeah, I am a god. haha, no was just luck, could also have just gone through that S/R level again.
Good call though.

EDIT: GBP/USD is reaching it destination.
  • #7,096
  • Jun 28, 2010 1:37pm Jun 28, 2010 1:37pm
yup good call custos. it lined up with the intraday p.a. and worked to the next pivot here.
  • #7,097
  • Jun 28, 2010 10:06pm Jun 28, 2010 10:06pm
Has anyone tried using line chart in identifying the key S/R areas using line chart? Apparently it help refine these areas very well.

Custos .... have you had any experience in marking levels this way?


http://www.babypips.com/school/suppo...esistance.html
  • #7,098
  • Jun 28, 2010 10:17pm Jun 28, 2010 10:17pm
Quoting MktScape
Has anyone tried using line chart in identifying the key S/R areas using line chart? Apparently it help refine these areas very well.

Custos .... have you had any experience in marking levels this way?


http://www.babypips.com/school/suppo...esistance.html

careful, line charts are only based off one statistic, whether being close, high, low, average, etc
  • #7,099
  • Jun 28, 2010 10:52pm Jun 28, 2010 10:52pm
Quoting randomperson
careful, line charts are only based off one statistic, whether being close, high, low, average, etc
yes ... in MT4 it takes closes only .... since the closes are decided by the professionals therefore wouldn't it be more useful to use these turning points in marking S/R?
  • #7,100
  • Jun 29, 2010 1:24am Jun 29, 2010 1:24am
Quoting MktScape
Has anyone tried using line chart in identifying the key S/R areas using line chart? Apparently it help refine these areas very well.

Custos .... have you had any experience in marking levels this way?


http://www.babypips.com/school/suppo...esistance.html
yeah, I tried it and for me it is actually harder marking the real S/R levels. I agree with randomperson here. You only have the close. However to mark an S/R level highs and lows are equally important.
But please, this is just my opinion. Maybe for you it is better to use a line chart for S/R level marking. You have to try it out.
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