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  • #284,021
  • Aug 20, 2010 12:46am Aug 20, 2010 12:46am
gbp drifts lower
those who can, do. those who cant, talk about those who can
  • #284,022
  • Aug 20, 2010 12:47am Aug 20, 2010 12:47am
Looks like a short is in the way .... 15mn remaining to see this hourly closes
COT: The precious data ignored
  • #284,023
  • Aug 20, 2010 12:47am Aug 20, 2010 12:47am
I agree. This is a textbook example of a range. Is not worth any risk until the range is broken. All my trading instruments are in noisy ranges, not even the "happy" FCE (CAC40) & Ftse are tradable since the opening.

sisse

Quoting kuroro001
PA is boring...too much indecision again
And the PA looks the same as yesterday...hourly basis
Pending conversations? PM for a chat...I am mainly in OTM now
  • #284,024
  • Aug 20, 2010 12:48am Aug 20, 2010 12:48am
Quoting T.E.Lawrence
Why? They blew up their accounts using these signals?
This signal will only indicate the next possible move, market direction, and therefore traders strategy....

http://www.investopedia.com/terms/d/deathcross.asp



Normally, trades shall not be positioned until confirmation of price move is in direction of signal.

Which tells me in this case to wait and watch for second confirmation, and that could be be the break of the trend channel that has been the support for the pair since June 7.
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  • #284,025
  • Aug 20, 2010 12:48am Aug 20, 2010 12:48am
Quoting fosking
Morning Driver, hope you are well!
Do you mind me asking if you look at more technical or fundamental analysis when trading? Thanks
I don't pretend to do fundamental analysis ....
then only graphic analysis and experience.

But that does not mean that I'm always right.
The best thing that can happen to you is to find out where you're wrong.
  • #284,026
  • Aug 20, 2010 12:49am Aug 20, 2010 12:49am
I don't know why the market is so indecisive recently. Are we waiting for some important news?
  • #284,027
  • Aug 20, 2010 12:51am Aug 20, 2010 12:51am
Quoting sisse
Interesting view. I personally don't use & see much correlation between USDCHF and EURUSD (a part from the obvious correlation with the USD side that is the same with any other USD pair) . Could you expand the reasons why USDCHF should "lead" this pair? or is just because the picture is clearer for you in the USD/CHF chart?

sisse
im on the same page as this bass guy. finally someone tells the truth..http://www.cnbc.com/id/15840232?video=1568296901&play=1
those who can, do. those who cant, talk about those who can
  • #284,028
  • Aug 20, 2010 12:51am Aug 20, 2010 12:51am
Quoting Driver55
I don't pretend to do fundamental analysis ....
then only graphic analysis and experience.

But that does not mean that I always right.
Haha I see, thanks for the reply
  • #284,029
  • Aug 20, 2010 12:54am Aug 20, 2010 12:54am
Quoting T.E.Lawrence
I don't know why the market is so indecisive recently. Are we waiting for some important news?
There is alot of conflict reports from both sides of the ocean - Euro doing better - USA doing worse .....no I mean USA is not doing better and Euro is going to fall back into recession......there is soooooo much jibba gabba going on that I don't think anybody knows exactly where we are........nobody wants a strong currency as it affects exports etc......this is an economic war being fought right now.....we are just catching the waves of the powers that be......
I don't trust any move - when you have profit...take it.
  • #284,030
  • Aug 20, 2010 12:57am Aug 20, 2010 12:57am
We have a nice divergence fight which is one of the reasons why EU is indecisive. Very interesting battle between hidden bull and hidden bear. Looking @ h4 there is a hidden bear OBV divergence and classic OsMA bear divergence. On the contrary double hidden bull OsMA divergence is trying tu push EU higher.

Last H4 divergence is hidden bull but still needs a confirmation.

When opposite divergence crisscross thats a sign of indecision

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  • #284,031
  • Aug 20, 2010 1:04am Aug 20, 2010 1:04am
I have noted that alot of the traders here use an hour chart and even a 4 hour chart when they are talking about price action etc........I was wondering if anyone could explain how you pick your long and or short entries with such a long timeframe.

Thanks in advance to anyone that replies.
I don't trust any move - when you have profit...take it.
  • #284,032
  • Aug 20, 2010 1:07am Aug 20, 2010 1:07am
Quoting hytham
This signal will only indicate the next possible move, market direction, and therefore traders strategy....

http://www.investopedia.com/terms/d/deathcross.asp



Normally, trades shall not be positioned until confirmation of price move is in direction of signal.

[color=black][font=Verdana]Which tells me in this case to wait and...
BTW

The Death Cross was complete late yesterday, but this does not mean that the uptrend line will be broken today...

will keep watching
  • #284,033
  • Aug 20, 2010 1:08am Aug 20, 2010 1:08am
Quoting Faller
I have noted that alot of the traders here use an hour chart and even a 4 hour chart when they are talking about price action etc........I was wondering if anyone could explain how you pick your long and or short entries with such a long timeframe.

Thanks in advance to anyone that replies.
Same as with other time frames. Bigger time frames 'offer' stronger, more reliable signals, because there's more trading inside each candle.
  • #284,034
  • Aug 20, 2010 1:09am Aug 20, 2010 1:09am
i use tf of at least 24 h so pa over the last 24 h on 1 h candle... or 6 *4h candles
Andreyou
  • #284,035
  • Aug 20, 2010 1:10am Aug 20, 2010 1:10am
Quoting Driver55
guys,
it's clear that everyone here make assumptions, but I would advise you to watch USDCHF, and in relation to this, trying to decipher the next evolution of EURUSD.
From my point of view, in the short term, USDCHF will at least touch area 1.0220-1.0200.
The critical point for EURUSD , is no longer the low marked in recent days, but the 1.2800 level, especially if we were open a 4H candle below this level.

The loss of this level would open important doors to the downside. This is why I don't believe in this scenario, and is also...
Thanks Driver , yes checked last night , still to bear enough there perhaps usdchf.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #284,036
  • Aug 20, 2010 1:11am Aug 20, 2010 1:11am
Quoting T.E.Lawrence
I don't know why the market is so indecisive recently. Are we waiting for some important news?
Due to weak US economic data and projections, asset reallocation is going on from US equity to US dollar,yen ,franc,gold etc
10200 is a strong support area for DOW
  • #284,037
  • Aug 20, 2010 1:14am Aug 20, 2010 1:14am
Quoting T.E.Lawrence
Same as with other time frames. Bigger time frames 'offer' stronger, more reliable signals, because there's more trading inside each candle.
When you see what you want to see on the larger TF do you then look to a shorter TF to pick a more exact entry? Otherwise it seems like you would be missing a good part of a move???? Sorry if this seems to be a lame quesiton - I am still relativly new at this (been trading and learning on my own for just over a year - no bought courses) just my own sweat and tears........of and also joy in there also....otherwise I would not still be learning!

Thanks for any insight you can offer........
I don't trust any move - when you have profit...take it.
  • #284,038
  • Aug 20, 2010 1:14am Aug 20, 2010 1:14am
Thanks for the good link. Very clear guy. His arguments are excellent. He is almost on the spot in what is happening during the last weeks: buy Japanese bonds, run away from Stocks.... the only thing left to confirm his views is the bet on European debt default which is definitively not a crazy option but that's the only part that hasn't going worst the last few weeks (... still is way too early to call the end of the debt crisis so he may hit the jackpot with his FUND)...

sisse

Quoting gatorinla
im on the same page as this bass guy. finally someone tells the truth..http://www.cnbc.com/id/15840232?video=1568296901&play=1
Pending conversations? PM for a chat...I am mainly in OTM now
  • #284,039
  • Aug 20, 2010 1:17am Aug 20, 2010 1:17am
Quoting Faller
I have noted that alot of the traders here use an hour chart and even a 4 hour chart when they are talking about price action etc........I was wondering if anyone could explain how you pick your long and or short entries with such a long timeframe.

Thanks in advance to anyone that replies.
Yes most of us use H1, H4 or daily chart because the longer the timeframe is, the more accurate the price action will be.
Have you tried trading a 5mn chart based on price action only (without indicator) ? I just can't, it's too messy, it's going nowhere, definitely not for me
So if you want to trade only on PA, the higher tf the better!
That's my point of view because i trade H1 chart without any indicator, it's just a source of prob to me

Good luck!
COT: The precious data ignored
  • #284,040
  • Aug 20, 2010 1:17am Aug 20, 2010 1:17am
Quoting T@rantula
We have a nice divergence fight which is one of the reasons why EU is indecisive. Very interesting battle between hidden bull and hidden bear. Looking @ h4 there is a hidden bear OBV divergence and classic OsMA bear divergence. On the contrary double hidden bull OsMA divergence is trying tu push EU higher.

Last H4 divergence is hidden bull but still needs a confirmation.

When opposite divergence crisscross thats a sign of indecision

Attachment
if we close below 2749 today its over. atm we are between to major fibs just 75 pips apart.. that makes this area super strong.. but since it was breached. i bet we get sucked down into it.. and back to 2133.5 and then some...
those who can, do. those who cant, talk about those who can
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