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  • #13,481
  • Aug 8, 2010 7:11am Aug 8, 2010 7:11am
Quoting euro_dude
A Boss hammer has formed after a daily hammer on Thursday.

It looks good to me (shape, location, historically) but doesn't quite feel right!

OK, I'm opening a can of worms here...

Currency correlation: Why would CAD weaken when every other USD pair is still strong?

Funnymentals: Oil is still high and equities haven't collapsed

Could this be bond?
Yep I think its a bond.

But I'm biased - I just can't/won't buy the dollar.
  • #13,482
  • Aug 8, 2010 7:15am Aug 8, 2010 7:15am
Quoting stewrigh
Yep I suppose so, but you could also argue that the shorter term trend is up.

But there is a load of confluence here which is what I look for.

Namely...

SS
50/60 fib
Lower high
Horizontal SR
Trend line - not so keen on this but always aware.
Longer term trend is down - don't think even Strat can argue with that - lol.

Ps I won't trade this til I see what happens on Monday/Tuesday.(think I might regret that but I'm waiting for price to start its move down.

Attachment
Just for your consideration before you go short. The SS is not looking good to me body is too small or lower wick is too big and bar is more like a BUOB and LH is not confirmed yet.
  • #13,483
  • Aug 8, 2010 7:18am Aug 8, 2010 7:18am
Quoting simpleman
Just for your consideration before you go short. The SS is not looking good to me body is too small or lower wick is too big and bar is more like a BUOB and LH is not confirmed yet.
Yep I agree - In fact theres acouple of things make me a bit uneasy - thats why I'm gonna wait til Mon/Tues
  • #13,484
  • Aug 8, 2010 7:39am Aug 8, 2010 7:39am
Quoting stewrigh
Suffice to say that I think the trend is down.

Attachment
OK, I see it now! A little higher would be nice...
Attached Image (click to enlarge)
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  • #13,485
  • Aug 8, 2010 8:27am Aug 8, 2010 8:27am
Quoting euro_dude
OK, I see it now! A little higher would be nice...
  • #13,486
  • Aug 8, 2010 10:34pm Aug 8, 2010 10:34pm
Boss could be putting in a HL if last weeks hammer breaks to the upside. Boss 20 has been acting as R and the 20 and the 50 are still above price.

Boss hammer shows a good reaction off of major S at .8240

Worker has formed a not so perfect inverted H&S and the 20 is acting as R here as well with price below both ma's on the worker as well.

Euro has gained strength across the board the past few except for a couple of the pairs EJ in particular.

If the weekly bar is confirmed as a swing low i will be looking for longs on the worker later in the week.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurgbp08082010worker.jpg Size: 95 KB
  • #13,487
  • Aug 9, 2010 2:14am Aug 9, 2010 2:14am
On the BOSS we have a nice hammer off a nice trendline that was broken, now tested + both emas + ret 38 and a close above RN 0.75.

Attached Image (click to enlarge)
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But going down on Daily (no attachment) we have no setup yet, I was tempted to put a buy order above Friday's candle but it is to big and still have impeding resistance at 0.7575. I will wait to see if it breaks above and maybe I will get a chance to enter LONG this week.

Have a good trading week everyone!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #13,488
  • Aug 9, 2010 2:53am Aug 9, 2010 2:53am
Hi Patrickhttp://cdn.forexfactory.com/images/icons/icon7.gif

Which currency pairs are you trading, observing?

Happy Tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,489
  • Aug 9, 2010 4:05am Aug 9, 2010 4:05am
Inserted Code
[font=Arial][b]REGISTRATION ON THE PATH OF LEARNING

[/b]For those students wishing to register on The Path of Learning, please send a Private Message (PM) to mstandifer who is the Registrar and Thread Administrator[/font]

how can i contact to mstandifer ?? thank you
A chart helps those who can read it.
  • #13,490
  • Aug 9, 2010 7:05am Aug 9, 2010 7:05am
Quoting geniusztc
Inserted Code
[font=Arial][b]REGISTRATION ON THE PATH OF LEARNING

[/b]For those students wishing to register on The Path of Learning, please send a Private Message (PM) to mstandifer who is the Registrar and Thread Administrator[/font]

how can i contact to mstandifer ?? thank you
Go up to Search this Thread above and type in his name. Then scroll until you find a link that will bring you to his name/avatar. Click on that.
  • #13,491
  • Aug 9, 2010 7:20am Aug 9, 2010 7:20am
Since we are at Clapton's song again (no more plugs, Eric), just a reminder of where we are in the big scheme of things.
Attached Image (click to enlarge)
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15 YEARS OF PASR ON FOREX FACTORY!
  • #13,492
  • Aug 9, 2010 9:16am Aug 9, 2010 9:16am
Ever had one of those moments when your life flashes before you? I just have - looking at AUDUSD.

Back in those days when I finally realised what indicators really were, I moved over to chart patterns. Then I got clever and thought I had found the Holy Grail when I stumbled on Gartley, Bats and Crabs.

At the same time, I found Larry Pesavento's work on such animals. Lordy, lordy, back up the 18 wheeler and fill it with greenbacks to take to the bank. Oh yes, indeedy, sir!

With all their ABCDs and fib projections and extensions, this is it, this is the secret that no-one knows except the chosen few.

Draw your Gartley, or your Bat or your Crab, TP, stop and reverse, go in at $100/pip and retire a $millionaire.

What went wrong?

The damned Gartleys, Bats and Crabs don't know when they are SUPPOSED to finish! They are no different to EW. They stop short of their projection, or over shoot their projection or don't reverse when they should!

Larry Pesavento? He claims to have a special understanding on TIME and supposedly trades when PRICE and TIME line up.

Thank the Almighty for PASR
Attached Image (click to enlarge)
Click to Enlarge Name: audusd bat out of hell.gif Size: 41 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,493
  • Aug 9, 2010 10:59am Aug 9, 2010 10:59am
Quoting Jideck
Hi Patrickhttp://cdn.forexfactory.com/images/icons/icon7.gif

Which currency pairs are you trading, observing?

Happy Tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
Hi Jideck,

I have accounts with IBFX.
eurusd
usdchf
gbpusd
usdjpy
chfjpy
eurjpy
audjpy
nzdjpy
usdcad
eurcad
audcad
eurgbp
gbpchf
audchf
nzdchf
eurnzd
nzdusd
gbpnzd

I am trading mostly major pairs and crosses, some are just observing for PA. For example, gbpnzd is a good trade from support to first resistance. I mentally entered the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpnzd-08-9-10.gif Size: 17 KB
  • #13,494
  • Aug 9, 2010 2:52pm Aug 9, 2010 2:52pm
My first post on Strat’ thread and actually my first post on FF. I am been following FF since 2008… I have read and try to understand the 100 pages. PASR opened my eyes about key success factors in trading Forex.
Strat and his experienced traders are doing a tremendous job by helping other traders. So generous!
Once I am ready, I will post my first monthly/weekly/daily assessment on relevant pairs.
I am targeting October 10 for value added posts.

Voilà and all the best from Paris.
  • #13,495
  • Aug 9, 2010 4:33pm Aug 9, 2010 4:33pm
Quoting patrick25
Hi Jideck,

I have accounts with IBFX.
eurusd
usdchf
gbpusd
usdjpy
chfjpy
eurjpy
audjpy
nzdjpy
usdcad
eurcad
audcad
eurgbp
gbpchf
audchf
nzdchf
eurnzd
nzdusd
gbpnzd

I am trading mostly major pairs and crosses, some are just observing for PA. For example,...

Hi Patrickhttp://cdn.forexfactory.com/images/icons/icon7.gif

Many thanks for the info, I see that I do not observe mainly the JPY and CHF crosses.

This was a very good set up on your chart, why not enter? The PA confirmed the support, great ATM trade, or this is not in your overall strategy?

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,496
  • Aug 9, 2010 4:45pm Aug 9, 2010 4:45pm
Quoting strat
Ever had one of those moments when your life flashes before you? I just have - looking at AUDUSD.

Back in those days when I finally realised what indicators really were, I moved over to chart patterns. Then I got clever and thought I had found the Holy Grail when I stumbled on Gartley, Bats and Crabs.

At the same time, I found Larry Pesavento's work on such animals. Lordy, lordy, back up the 18 wheeler and fill it with greenbacks to take to the bank. Oh yes, indeedy, sir!

With all their ABCDs and fib projections and extensions, this is it,...
Hi Strathttp://cdn.forexfactory.com/images/icons/icon7.gif

Does look a bit like a butterfly, to fly up and up. I find that when you start describing waves and other stuff like that my mind just stops there, there is just too much unknown, and uncertainty with it. Give me PASR any day, this I can understand.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,497
  • Aug 10, 2010 12:16am Aug 10, 2010 12:16am
Quoting Jideck
Hi Patrickhttp://cdn.forexfactory.com/images/icons/icon7.gif

Many thanks for the info, I see that I do not observe mainly the JPY and CHF crosses.

This was a very good set up on your chart, why not enter? The PA confirmed the support, great ATM trade, or this is not in your overall strategy?

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
This baby is a monster pips. A little move is a few hundred pips.
  • #13,498
  • Aug 10, 2010 1:06am Aug 10, 2010 1:06am
Quoting patrick25
This baby is a monster pips. A little move is a few hundred pips.
Hi Patrickhttp://cdn.forexfactory.com/images/icons/icon7.gif

Thanks, I was not checking pips per se just seeing PA as you showed, quite right many pips.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,499
  • Edited 2:57am Aug 10, 2010 2:46am | Edited 2:57am
Quoting strat
Since we are at Clapton's song again (no more plugs, Eric), just a reminder of where we are in the big scheme of things.
Strat,
this is certainly a crossroads? Since you posted your chart the TL and 50% Fib have been broken to the upside. The 20ema has crossed the 50sma and the immediate Boss trend is up? I am waiting to see what the Boss tells us at the 20ema. From what I have learnt so far is to sit back and watch this after the New York close for direction and the all important PA and confirmation given by any confluence.
Hope I'm on the right track?
  • #13,500
  • Aug 10, 2010 7:21am Aug 10, 2010 7:21am
This is my first post after months of serious reading and understanding of this thread. So pls pardon me if I were to say something irrelavant..ahaha..

I would like to thank Strat and everyone for starting this thread and keeping it alive..

Gpd/Aud is worth watching imo as price is near support with confluence of UTL and 61.8 fib.. But it's also stuck in a range and coil. So we have to wait and see what happens next...
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