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  • #13,221
  • Jul 26, 2010 4:12pm Jul 26, 2010 4:12pm
Quoting kalvind
There is a BUOB forming on the Big Boss but a few more days left in the month before this can be confirmed.
Strat, please post another test soon for STRATegy so simple peolpe must over complicate the basics of PASR.
Hi Kalvind,
Could you please post your Big Boss chart I want to see BUOB on your chart as I don't have one mine may be becuase of different data feed.

I think there is good test I have given myself and the test is " At what price one should go long or short on this pair?"

AS
  • #13,222
  • Jul 26, 2010 4:58pm Jul 26, 2010 4:58pm
Quoting simpleman
Hi Kalvind,
Could you please post your Big Boss chart I want to see BUOB on your chart as I don't have one mine may be becuase of different data feed.
Here's mine...
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  • #13,223
  • Jul 26, 2010 6:05pm Jul 26, 2010 6:05pm
It is nothing until the close of the candle at the end of the month.

If you want, you can say it is a BUEB or IB right now. But that can definitely change within a week. Right now it doesn't mean anything.

All I am seeing on the EJ is that it is banging hard against resistance at 113.20 or so and until it breaks through significantly it is not telling us anything about direction.
  • #13,224
  • Jul 26, 2010 6:56pm Jul 26, 2010 6:56pm
"I have nothing to say" -- Oliver Hardy
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  • #13,225
  • Jul 26, 2010 7:06pm Jul 26, 2010 7:06pm
Quoting Lou
"I have nothing to say" -- Oliver Hardy
Much better than "Another fine mess you got me into!"
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,226
  • Jul 26, 2010 7:33pm Jul 26, 2010 7:33pm
Quoting MoneyMaker
It's good to see my charts S&R levels respected to a degree. It's building my confidence in my abilities to see and trade them. A big thank you to Blackeagle and Strat for the explanations earler in the thread. I'm still only around page 300 in my studies, but it's slowly coming together. They say you can't rush a good thing, hope they're right. Don't ask me who the "they" is cuz I'm not sure.

On a side note, I stayed up waiting for Dr. Joe's ghost, but he never showed.... , I was hoping to pick his brain.
It's good to see my charts S&R levels respected to a degree.

Which of the other 359 isn't it respecting?

 I'm still only around page 300 in my studies, but it's slowly coming together. They say you can't rush a good thing, hope they're right. Don't ask me who the "they" is cuz I'm not sure.

I said it! If in doubt, listen to Ricky Nelson's "Fools Rush In"

On a side note, I stayed up waiting for Dr. Joe's ghost, but he never showed.... , I was hoping to pick his brain.

It's already picked - read my "Dr. Joe" posts!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,227
  • Jul 27, 2010 2:32am Jul 27, 2010 2:32am
Quoting PistolDave
It is nothing until the close of the candle at the end of the month.
All I am seeing on the EJ is that it is banging hard against resistance at 113.20 or so and until it breaks through significantly it is not telling us anything about direction.
I agree with you entirely and I did mention one has to be patient and watch PA develop and give us the timing on the worker to take a trade. One thing I have found myself doing is never looking at a timeframe lower than the Daily. As the thread suggests look for reasons not to take the trade and in my learning so far there are many reasons not to trade the EURJPY as there is no confluence or confirmation of direction, hopefully some of you will agree.
  • #13,228
  • Jul 27, 2010 2:44am Jul 27, 2010 2:44am
Quoting kalvind
I agree with you entirely and I did mention one has to be patient and watch PA develop and give us the timing on the worker to take a trade. One thing I have found myself doing is never looking at a timeframe lower than the Daily.
Hi Kalvind,
I was curious about BUOB which is not the case. so far it was BUEB. For BUOB the high of the bar should be higher then the previos bar and the low of the bar should be lower then the previous bar, body doesn't matter.

And the answer to my test is "I will go long above 114 with PA". Some of the experience traders have already gone long on 1st of July bar.
  • #13,229
  • Jul 27, 2010 3:55am Jul 27, 2010 3:55am
Quoting simpleman
Hi Kalvind,
I was curious about BUOB which is not the case. so far it was BUEB.
And the answer to my test is "I will go long above 114 with PA".
Sorry for the confusion I meant to say BUEB. Yes I think well above 114 could be a possible entry and would be far enough from current SR? Remember never trade arounf SR levels. I would be even more cautious and wait for a HL to be made if a HH is indeed made. The big boss trend is down but the momentum has slowed.
All of this is great as an exercise in "what if" stuff but we have to be patient and see what develops and look for a stress free entry.
  • #13,230
  • Jul 27, 2010 4:04am Jul 27, 2010 4:04am
BOSS.
BOSS is in a downtrend, under EMA 20. July 11 weekly bar was a BEOB, last week bar as an IB. This tells me that BOSS is still in bearish mode and will look for shorts only.

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Worker.
I am monitoring the 88.00 level where there is a strong resistance of a rather large confluence (Round Number, 62 Retracement of last swing down, bearish TL, EMA 20).
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #13,231
  • Jul 27, 2010 6:58am Jul 27, 2010 6:58am
Quoting soso
BOSS.
BOSS is in a downtrend, under EMA 20. July 11 weekly bar was a BEOB, last week bar as an IB. This tells me that BOSS is still in bearish mode and will look for shorts only.


Worker.
I am monitoring the 88.00 level where there is a strong resistance of a rather large confluence (Round Number, 62 Retracement of last swing down, bearish TL, EMA 20).
Thanks for your analysis it's very clear and easy to follow.
  • #13,232
  • Jul 27, 2010 10:41am Jul 27, 2010 10:41am
Quoting patrick25
If it helps, I also took the same trade. May I suggest? put your SL below the support. My SL is 10 pips below support which is 1.5790.
Second position hit TP at R. Third position remains at breakeven for further PA.
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  • #13,233
  • Jul 27, 2010 3:48pm Jul 27, 2010 3:48pm
Dear Soso,

Thank you for this pair analysis, everything is undoubtedly so well explained.

A couple of remarks if you would care to discuss.

Price on Worker on my view is in a downslope Wedge, hit major R @ 88.0.
To my knoledge this formation usually calls for higher prices.

What you showed on your BOSS chart, i think is a Harami pattern and again calls for higher prices.

Big Boss, since the end of month nears, could be on its' way on forming a Hammer-doji like bar and we all know what that means on Big Boss.

All the above makes me wonder if one should have traded the 22/7 Hammer for a ride up to 88.5-89.0 area and then back down again.

Thanks
R.
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  • #13,234
  • Jul 27, 2010 3:57pm Jul 27, 2010 3:57pm
Quoting Alexandra
Apologies for any duplication, as I am vacationing, but I do think some comment on E/J after today or tomorrow's close would be enlightening for many readers. One can argue either case. Of course, I am long given the weekly pattern and the daily resiliance (No news to Strat). Clearly, however, asking onesself why or why not he/she is or is not in this market and in what direction should test one's methodology and committment. If it makes you a few bucks along the way, so be it.
Hello Alexandra and all the others,

you'll find hereafter my analyse of EURJPY (I'm still astudent, so please do not hesitate to comment):

Boss: has been moving sideways for 2 months and an half. Has made a double bottom (W shape), which could show that a trend change is about to occur (it is however not the case yet).

Worker: right now (15 minutes before today's close), 2 first R at 112.81 and 113.37 have been broken.
More importantly, a close above 114 has been made for the first time since May 17th, and for the first time since then as well, a higher high has been made (although not confirmed yet).

Conclusion: if a new trend really starts, new HH/HL cycles will take place.
One should then wait for a retrace with a HL and check the PA for a buy (BUOB, BUEB or hammer at S).

Cheers,
P.
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  • #13,235
  • Jul 27, 2010 4:07pm Jul 27, 2010 4:07pm
Hi again, I can not resist to the pleasure to share with you the magic of the PA that appeared to me on the EURUSD chart hereafter: look at the MA20 and how the prices reacted each time they approached that MA.

You were for sure already familiar with this, but, on my side, it is the first time that it appears so clearly.

Beautiful, isn't it?

By the way, I also quoted the swings I saw on the worker (I know that it is always easier on a chart with data from the past than in real time; Notice: I manually put "signals" on my chart in order to allow me to improve my understanding of what I should pay attention to on real time data in order to enter a trade).

Concerning EURUSD, I would then await a retrace in order to buy the dip if PA is suitable (BUOB, BUEB or hammer at S preferably).
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  • #13,236
  • Jul 27, 2010 5:30pm Jul 27, 2010 5:30pm
Update on the CADJPY daily - has hit the upper trend line.
We seem to have a triangle formation with the trendline down to the 81.50 support.
I'm not sure yesterdays candle off the trendline merits a trade at this stage although if yesterday's low is broken then a short term trade down to the support may be in order.
In the bigger picture this pair seems to be winding up for a breakout one way or another.
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If you can wait and not be tired by waiting...
  • #13,237
  • Jul 27, 2010 7:11pm Jul 27, 2010 7:11pm
Quoting patrick25
Second position hit TP at R. Third position remains at breakeven for further PA.
Very well done, Patrick. Looks like I may have to promote you to "Star Student".

You should move your SL on your 3rd position to lock in some profits - you should be able to SEE where your SL goes.
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,238
  • Jul 27, 2010 10:42pm Jul 27, 2010 10:42pm
Quoting Pitch30
Hello Alexandra and all the others,

you'll find hereafter my analyse of EURJPY (I'm still astudent, so please do not hesitate to comment):

Boss: has been moving sideways for 2 months and an half. Has made a double bottom (W shape), which could show that a trend change is about to occur (it is however not the case yet).

Worker: right now (15 minutes before today's close), 2 first R at 112.81 and 113.37 have been broken.
More importantly, a close above 114 has been made for the first time since May 17th, and for the first time since then as...
I agree with that analysis. The market is showing strong signs now of becoming bullish. The aggressive entry would be a breakout above yesterday's big bull candle. Safer would be to wait for a pullback to the support around 113ish.
  • #13,239
  • Edited Jul 28, 2010 9:45am Jul 27, 2010 11:55pm | Edited Jul 28, 2010 9:45am
paper trade. Seem to be stuck in a 5-600 pip range. Risk is roughly 150 pips, but still only 1/2-1%. Short is placed 10 pips below the low of the SS on my chart, looking for a target of 75-75.20ish. Looking back at the SS on 6-21 being firmly rejected by the 50 and 20, it fell over 600 pips before rebounding. Boss 50 is starting to turn down from flat. Plan will be to let it ride to target unless it starts to wobble at the 20 and 50 roughly 80 pips south, I'll take half off there and move my stop to BE and then let the rest run.

All comments and feedback is greatly appreciated and accepted

Chuck
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  • #13,240
  • Jul 28, 2010 12:52am Jul 28, 2010 12:52am
Quoting strat
Very well done, Patrick. Looks like I may have to promote you to "Star Student".

You should move your SL on your 3rd position to lock in some profits - you should be able to SEE where your SL goes.
Thank you Strat, and yes I have moved my SL on my 3rd position to where my 2nd position SL was.
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