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  • #12,921
  • Jul 7, 2010 3:53pm Jul 7, 2010 3:53pm
Is it the re-test of Root TL, so far looks like a re-test. I will wait for the week close.
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  • #12,922
  • Jul 7, 2010 8:43pm Jul 7, 2010 8:43pm
I have been on vacation for the past couple of weeks and took a break from trading, kinda wished i would have came back a day sooner!
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  • #12,923
  • Jul 7, 2010 9:23pm Jul 7, 2010 9:23pm
Quoting Rubens PP
Good afternoon everybody,

Has anyone noticed GBPCHF this week?
BOSS: BEOB
BIG BOSS : BEEB
Yes, I think the CHF strength has underlied things of late and has supported a reaatively aggressive EUR and AUD stance as well.
  • #12,924
  • Jul 8, 2010 8:01am Jul 8, 2010 8:01am
Thank you for you input, Alexandra, Simpleman.

Pair looking good so far..

R
  • #12,925
  • Jul 8, 2010 8:59am Jul 8, 2010 8:59am
Dear All,

Is there a printer-friendly summary of the thread? If not, let me know, thanks anyway.

cheers,

kk
  • #12,926
  • Jul 8, 2010 9:19am Jul 8, 2010 9:19am
Quoting kk007
Dear All,

Is there a printer-friendly summary of the thread? If not, let me know, thanks anyway.

cheers,

kk
Hi KK,
As far as I know there isn't any printer friendly summary of the thread, even if there is, I would suggest to read the thread as it is different going through post by post and reading just a summary.
Thanks
  • #12,927
  • Jul 8, 2010 9:40am Jul 8, 2010 9:40am
Quoting simpleman
Hi KK,
As far as I know there isn't any printer friendly summary of the thread, even if there is, I would suggest to read the thread as it is different going through post by post and reading just a summary.
Thanks

Thanks simpleman.... page 862 now... may take 1 year to go through post by post in details.
  • #12,928
  • Jul 8, 2010 10:01am Jul 8, 2010 10:01am
Quoting kk007
Thanks simpleman.... page 862 now... may take 1 year to go through post by post in details.
Three months ago when I joined there were about 750 pages and it took me 2 months to finish the thread. I was reading 50 pages on weekends and understanding as well, on week days I was reading 6 pages each day and understanding it. First two hundred pages will give you very good understanding of what this thread is all about and then you can read as you go along with your trading. Once you start reading you will know how interesting the thread is and there will always be help available if you do not understand something. So welcome to the Strat's world.
  • #12,929
  • Jul 8, 2010 10:27am Jul 8, 2010 10:27am
Thank simpleman,

Unfortunately, I am a day trader. I read this thread only want to have some ideas about it.

Thanks a lot anyway.

cheers,

Quoting simpleman
Three months ago when I joined there were about 750 pages and it took me 2 months to finish the thread. I was reading 50 pages on weekends and understanding as well, on week days I was reading 6 pages each day and understanding it. First two hundred pages will give you very good understanding of what this thread is all about and then you can read as you go along with your trading. Once you start reading you will know how interesting the thread is and there will always be help available if you do not understand something. So welcome to the Strat's...
  • #12,930
  • Jul 8, 2010 11:36am Jul 8, 2010 11:36am
Quoting Rubens PP
Thank you for you input, Alexandra, Simpleman.

Pair looking good so far..

R
Yes, since you are effectively posting trendlines, I think the developing daily TL on EURUSD is worth following. The monthly USDJPY is worthy of a post a week's end as well.
  • #12,931
  • Jul 8, 2010 11:49am Jul 8, 2010 11:49am
Quoting simpleman
Is it the re-test of Root TL, so far looks like a re-test. I will wait for the week close.
Hi Simpleman,

The two big Boss candles are trying to tell us something. These two candles are happening at a so bottom of the chart, the big boys are unloading if you ask me. This is time to have open mind there is a possibility trend change. Just trying to recognise the early sign but not trading on it.
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  • #12,932
  • Jul 8, 2010 12:01pm Jul 8, 2010 12:01pm
Quoting patrick25
Hi Simpleman,

The two big Boss candles are trying to tell us something. These two candles are happening at a so bottom of the chart, the big boys are unloading if you ask me. This is time to have open mind there is a possibility trend change. Just trying to recognise the early sign but not trading on it.
Yes, quite possible and what I see at the moment on daily is LH but let me see next couple of trading days, may be close below 20 with PA
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  • #12,933
  • Jul 8, 2010 12:02pm Jul 8, 2010 12:02pm
Quoting kk007
Thank simpleman,

Unfortunately, I am a day trader. I read this thread only want to have some ideas about it.

Thanks a lot anyway.

cheers,
Unfortunately, I am a day trader.

In your dreams, pal!

According to your many mumbo jumbo posts, you can't trade your way out of a paper bag! Keep trying though, we need the liquidation.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,934
  • Jul 8, 2010 2:43pm Jul 8, 2010 2:43pm
Hello Strat and welcome back!

I believe that there is an opportunity to long USDCAD if today's candle ends as a hammer at NY's close.

Big Boss stopped going down when it reached the cluster from S @1.00 and fibo 78.6. Then, in May the bulls tried to push the price high but they were repelled from R @1.07. Even if they closed low, i think its important that they managed to make a HH in May. In June the bulls had strength and closed strong.

Boss seems to be in agreement with Big Boss and it made a HH and a HL. At HL we have a BUEB followed by a strong bullish candle and this makes the Boss more bullish than bearish.

The Worker made a retracement untill support @1.021 and if today ends like a hammer, I will trade it. The first target is R 1.063.

It looks to me like all the TF are în agreement here. This is range trading and Risk/Reward is acceptable. Is there something I'm missing? I appreciate any feedback. Thanks
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  • #12,935
  • Jul 8, 2010 3:07pm Jul 8, 2010 3:07pm
Quoting hcristea
Hello Strat and welcome back!

I believe that there is an opportunity to long USDCAD if today's candle ends as a hammer at NY's close.

Big Boss stopped going down when it reached the cluster from S @1.00 and fibo 78.6. Then, in May the bulls tried to push the price high but they were repelled from R @1.07. Even if they closed low, i think its important that they managed to make a HH in May. In June the bulls had strength and closed strong.

Boss seems to be in agreement with Big Boss and it made a HH and a HL. At HL we have a BUEB...
You've got everything spot on, papa dragon!

I will not be taking it though for the following reasons:

There is little interest on this pair from the big boys
The Boss has a 6 week top held down by the 50
As you rightly identified, the first R is at 1.063 which is only a 2:1 return which does not interest me.

This pair has been a little erratic lately and as I told Lotuselanman elsewhere, I would prefer the buyers to prove themselves first before I got out my wallet which would then reduce the R:R still further.
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,936
  • Jul 8, 2010 3:36pm Jul 8, 2010 3:36pm
Quoting strat
I would prefer the buyers to prove themselves first before I got out my wallet which would then reduce the R:R still further.
What would you consider proof? Strong close above 1.075, or a HH on the Big boss?
  • #12,937
  • Jul 8, 2010 3:44pm Jul 8, 2010 3:44pm
Quoting hcristea
What would you consider proof? Strong close above 1.075, or a HH on the Big boss?
A bullish bar closing higher than the high of the hammer
15 YEARS OF PASR ON FOREX FACTORY!
  • #12,938
  • Jul 8, 2010 4:17pm Jul 8, 2010 4:17pm
The day closed but the candle is not a hammer so i'm going to wait. Maybe tomorrow the buyers will prove themselves. We'll see. Good night!
  • #12,939
  • Edited 5:55pm Jul 8, 2010 5:30pm | Edited 5:55pm
Quoting hcristea
Hello Strat and welcome back!

I believe that there is an opportunity to long USDCAD if today's candle ends as a hammer at NY's close.
Hi Papa

I have followed and understand your reasoning.

However couldn’t going long, at this stage, be an exercise in trying to pick and trade a “bottom”.

An alternative would be to look at this as an opportunity to sell into an established downtrend, after a rally, when suitable PASR occurs.

In the words of Dr Joe: “IT KEEPS GOING DOWN UNTIL IT STOPS GOING DOWN”

Big Boss: Made a LH in May. Retraced from 50% fib. Both 20 EMA and 50 SMA steeply down.

Boss: Rejected and bounced off the downward TL in July, 50 SMA still steeply down. 20 EMA turning down when chart zoomed in.

Worker: The big BEOB on 6 July signalled a short. I was waiting for proof on the following day, but price closed between the 20 and 50.

This signalled to me to wait for a 3rd day.

Today’s hammer (8 July) has signalled at least short term weakness among sellers, and no PASR for a short, so I will wait again.

It could still have a long way to go before a bottom.

I realize that I am sticking my neck out here, as Strat agrees with you, so it will be interesting to see where this market goes from here.

Cheers, Roger
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"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,940
  • Jul 8, 2010 6:14pm Jul 8, 2010 6:14pm
Quoting No1Optimist
Hi Papa...
In the words of Dr Joe: “IT KEEPS GOING DOWN UNTIL IT STOPS GOING DOWN”

This applies to trending PRICE

USDCAD is NOT trending
15 YEARS OF PASR ON FOREX FACTORY!
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