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  • #281,981
  • Aug 13, 2010 4:11pm Aug 13, 2010 4:11pm
http://i281.photobucket.com/albums/k...oodWeekend.gif
Follow the Trend, thats all
  • #281,982
  • Aug 13, 2010 4:16pm Aug 13, 2010 4:16pm
Quoting gatorinla
.
Thats playin out nicely
In hoc signo vinces
  • #281,983
  • Aug 13, 2010 4:25pm Aug 13, 2010 4:25pm
Is there a weekly h&s pattern on oil I see? wow

Also testing bottom of daily channel

I guess we can say the same thing about DOW / S&P
  • #281,984
  • Aug 13, 2010 4:30pm Aug 13, 2010 4:30pm
Quoting sidhujag
Is there a weekly h&s pattern on oil I see? wow

Also testing bottom of daily channel

I guess we can say the same thing about DOW / S&P
you mind sharing a chart on the oil, cause mine never goes further than 1 month.

thankss.
  • #281,985
  • Aug 13, 2010 4:32pm Aug 13, 2010 4:32pm
Market closed at 1.2750-53 Interbank ECN when IMM closing now ...

I think it is much too early to call out further sell off activities ... even though the charts do not look funny for the EURO ...

But many institutional counterparts still think we are involved in a consolidation phase ...

My weekly and monthly stats did calculate a drop towards 1.2947 - 1.2777 or even to 1.2612 at the beginning of this week no.32 ...

But I must say - I was not thinking that it would go that fast ...

Many participitiants tend to exeggerations a bit ...

Trading spot forex ... and still beeing long above 1.33 ... that is not a funny experience I could imagine ...

Otherwise ... calling for a move to below 1.1 or even below parity ... that is not really serious as well at this stage ... and it would have a much more severe effect on US situation as well ...

Obviously many participitiants still do not have a mild intuition what kind of creation this EURO might be ... there is a lot of political will behind that "ugly baby" ...



Have a nice week-end
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #281,986
  • Aug 13, 2010 5:14pm Aug 13, 2010 5:14pm
Quoting mercy seat

even though the charts do not look funny for the EURO ...
  • #281,987
  • Aug 13, 2010 5:18pm Aug 13, 2010 5:18pm
Quoting ibicuy
Thanx also to Jaylovin and to Jackdan for helping.... I am new in trading and I guess I put myself in a situation bigger than me....

PS I am totally agree with you Jackdan close everything and go back to my "normal" life is what I am thinking all the day....hope to go back soon


Good night

I.

if you haven't already - read www.babypips.com - its priceless information... i've read the tutorials at least 5 times... they are brilliant... i've been trading for 18 months and only recently really starting to understand price action better than i used to...

good luck with future trades
  • #281,988
  • Aug 13, 2010 5:28pm Aug 13, 2010 5:28pm
Quoting jackdan
you mind sharing a chart on the oil, cause mine never goes further than 1 month.

thankss.
My first ever image attached on a forum.

Jag
Attached Image (click to enlarge)
Click to Enlarge Name: hsoil.GIF Size: 80 KB
  • #281,989
  • Aug 13, 2010 5:33pm Aug 13, 2010 5:33pm
Quoting sidhujag
My first ever image attached on a forum.

Jag

Thanks....
  • #281,990
  • Aug 13, 2010 5:44pm Aug 13, 2010 5:44pm
good night guys
good trading day for all
  • #281,991
  • Aug 13, 2010 6:16pm Aug 13, 2010 6:16pm
Quoting sidhujag
My first ever image attached on a forum.

Jag
lol, very good
  • #281,992
  • Edited 6:56pm Aug 13, 2010 6:55pm | Edited 6:56pm
Quoting jackdan
We certainly have concurrence of support, resistance, and trend line, as well a some fibo...

Alo, we have bullish inverted hammer on EC daily ( but don't take it too seriously, beeing ec), and fundamentally speaking, i believe the market still have not priced in the incredible german results today.

So, let's wait and see.... But yes, we will have an interesting monday.
Totally agree. Many things together pointing to at least a retrace. I actually risked a little against my better judgement of not holding a position over this particular weekend, and bought a small position, 1/5th of a full load, at 1.2851.

I think it'll be pretty obvious pretty quick if that *potential* trend line on the daily... to me its only a potential trend line... fails and I can bail with a close stop.

We're still above the cloud on the Daily, and you got to think that failing some broad negative market sentiment fueling more down side come Monday, or scarry news like an Isreali attack on Iran over the weekend, enough traders are gonna look at that near perfect four wave pattern, the confluence of all the support around that potential trend line and 6 straight Days of lower closes, and not be on the Bid come market open. (Daily Chart)

The 4Hr remains incredibly bearish, but it would need some time to catch up after the angle of the drop from 1.3300ish. It's made up of lagging indicators after all. However, it's bearish picture doesn't preclude at least a retrace of the down turn back to 1.2887, the 23.6 Fib, or 1.2973 the 38.2% Fib.

The 64 million dollar question is:

Is the move from 1.1876 to 1.3333 a retrace of a broader move toward 1.10 from 1.5140 to 1.1876, or are we seeing the completed, or nearly complete fourth wave of an up turn whose 5th wave will necessarily have to close above the 200 day MA, and portend more upside. (Daily Chart)
Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily 8_13_10.png Size: 50 KB
  • #281,993
  • Aug 13, 2010 7:21pm Aug 13, 2010 7:21pm
Quoting SunTrader
You got this thing about the closing price.

Although I use it for daily/weekly pivot calculations, with forex being a 24 hour market, IMO it is just another data point to me.

price was following larger bear numbers all day.....imo weekly closes are much more important than daily closes(i agree with you, i dont think dc's mean anything since its traded 24hr), there was no bounce and we closed near the low of the week.....more importantly, we broke 2774 a midpoint on larger bear scale telling me a top is in place......we might see a bounce next week near daily tl, we might not. But how price has followed these bear numbers today, id say we do not bounce, but if we do im selling it with a full position .
  • #281,994
  • Aug 13, 2010 9:32pm Aug 13, 2010 9:32pm
this daily shows it well ...

very high volume on 2 days now , both days closing on lows. , massive supply hitting all up moves. That ltl breaks 1,2400 next support area

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 202 KB






Quoting Crassius
Totally agree. Many things together pointing to at least a retrace. I actually risked a little against my better judgement of not holding a position over this particular weekend, and bought a small position, 1/5th of a full load, at 1.2851.

I think it'll be pretty obvious pretty quick if that *potential* trend line on the daily... to me its only a potential trend line... fails and I can bail with a close stop.

We're still above the cloud on the Daily, and you got to think that failing some broad negative market sentiment fueling more down side...
Blogging daily now at www.volume.zone
  • #281,995
  • Aug 13, 2010 9:33pm Aug 13, 2010 9:33pm
Quoting malcolmb14
this daily shows it well ...

very high volume on 2 days now , both days closing on lows. , massive supply hitting all up moves. That ltl breaks 1,2400 next support area

Attachment
same set up on gu

looks like down move to continue into next week ,
Blogging daily now at www.volume.zone
  • #281,996
  • Aug 13, 2010 9:55pm Aug 13, 2010 9:55pm
Quoting malcolmb14
same set up on gu

looks like down move to continue into next week ,
I agree with you...and it's not because I'm still holding a short from early July Only reason I held it so long was because I was using house money.
Si vis pacem, para bellum.
  • #281,997
  • Aug 13, 2010 10:28pm Aug 13, 2010 10:28pm
Up next week, stocks rally 3%. I base this on absolutely nothing, but wait and see.
  • #281,998
  • Aug 13, 2010 10:32pm Aug 13, 2010 10:32pm
Quoting Zeroh
Up next week, stocks rally 3%. I base this on absolutely nothing, but wait and see.

.....love your analysis
  • #281,999
  • Aug 13, 2010 10:55pm Aug 13, 2010 10:55pm
Quoting malcolmb14
you need this I think to get supernova working

mml i have set at 64 period and setting 0 for current time frame

Attachment
Hi Malcom,

In order to get the supernova working we also need the following indis:

dmi
QQEA

Also to match the parameter settings, a template for the setup would be useful.

Regards

TF
  • #282,000
  • Aug 13, 2010 11:01pm Aug 13, 2010 11:01pm
Quoting jackdan
You can see on your horizontal, i have blue and red spots (support and resistance), all joining on the same place...
Hi jackdan,

Is it possible to share the indis and template file used in your setup?

Regards

TF
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