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Triple taps

  • #581
  • Oct 12, 2010 7:37pm Oct 12, 2010 7:37pm
Quoting malcolmb14
eu heading to 1.4 or higher ...

heavy buying on all dips even still.

If you can get long in 1,3900 area for move to 1.4 in london ...


its true there is a lot of buying at the end of 1-4-6 level @1.3780 and price has reacted to the current minimum 1-4a take profit area.. all in the concept of mr wolfe pattern.. if this break i would look for that 1-4b target
  • #582
  • Oct 12, 2010 7:40pm Oct 12, 2010 7:40pm
coming up on e/j's 114.10 to 13....there's a lot of resistance there...if it breaks here. It looks good.
  • #583
  • Oct 12, 2010 7:40pm Oct 12, 2010 7:40pm
Quoting cugir321
I see a triple tap coming at 1.3970 on the 4hr. The indicators are maxed up. I wouldn't count on it going higher for a while.
1.3970 will do me ... been in eu since 1,3800..

ej moving up alright. 114,70 tp 01 then 115.5

I am thinking eu is buy dips all way to ......drum roll... 1.4200 to 1.4460. NOv 3rd is fomc ... NO talk of QE@ in that meeting or before then we get that healthy retrace
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  • #584
  • Oct 12, 2010 7:44pm Oct 12, 2010 7:44pm
check nzdusd on a weekly ... I think this one may be targeting .7800 area
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  • #585
  • Oct 12, 2010 7:46pm Oct 12, 2010 7:46pm
Yea, I hear you on the QE but everyone knows it's coming.

Quoting malcolmb14
1.3970 will do me ... been in eu since 1,3800..

ej moving up alright. 114,70 tp 01 then 115.5

I am thinking eu is buy dips all way to ......drum roll... 1.4200 to 1.4460. NOv 3rd is fomc ... NO talk of QE@ in that meeting or before then we get that healthy retrace
  • #586
  • Oct 12, 2010 7:51pm Oct 12, 2010 7:51pm
Quoting cugir321
Yea, I hear you on the QE but everyone knows it's coming.
that is the beauty of it .. it is built in to the markets that is why usd getting crushed.

Everyone is expecting 1 trillion in QE to be anouced at next meeting . If they only inject 500 million then usd will gain some strength....no mention of QE at all then eu will lose 500 pip in a week
Blogging daily now at www.volume.zone
  • #587
  • Oct 12, 2010 7:59pm Oct 12, 2010 7:59pm
yesterdays high is 114.135 for E/J It needs to break that for a long. Still not sure it will go much over that.
  • #588
  • Oct 12, 2010 8:07pm Oct 12, 2010 8:07pm
This is it for E/J. It has been retracing 13 pips. If it drops below about 15, I think it will reverse.
  • #589
  • Oct 12, 2010 8:18pm Oct 12, 2010 8:18pm
so far so good....you called that one. Now lets see if it goes more then 50 over the triple tap.
  • #590
  • Oct 12, 2010 8:23pm Oct 12, 2010 8:23pm
Every pair went through the triple tap line tonight. Will there be a mass drop???

That's 56 over the third tap of E/J. Looks long....for now!!! I'm thinkin retrace about now!!!
  • #591
  • Oct 12, 2010 9:20pm Oct 12, 2010 9:20pm
Quoting cugir321
so far so good....you called that one. Now lets see if it goes more then 50 over the triple tap.
116.6 new target ej

why

well euro NOT retracing in asia... in fact slowly moving up. Daily range is 140 pip. If we start london session at 1,3950 we blow thru 1,4 in london tonight taking out a bunch of stops making the potential day tomorrow a 200 pip day .
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  • #592
  • Oct 12, 2010 9:24pm Oct 12, 2010 9:24pm
5 of 7 of the charts I was watching went through the triple tap line. E/U is yet to see if it does.
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  • #593
  • Oct 12, 2010 9:25pm Oct 12, 2010 9:25pm
Quoting cugir321
5 of 7 of the charts I was watching went through the triple tap line. E/U is yet to see if it does.
it nay but will not be for another 5 hours till london gets rolling. In fact if we get a close tomorrow above 1.4025 then think 1.4200
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  • #594
  • Oct 12, 2010 10:02pm Oct 12, 2010 10:02pm
This sure as heck looks like a new channel on E/J.

Remember this red channel!!! 1 pip up after all that!
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  • #595
  • Oct 12, 2010 10:20pm Oct 12, 2010 10:20pm
It is very rare for eu or gu or any other pair to mpove over 60 pip in asia

Wait till londopn to judge if channel going to hold or not . Typically us direction is retraced in asia. Not today .... Makes me even more bullish

Quoting cugir321
This sure as heck looks like a new channel on E/J.

Remember this red channel!!! 1 pip up after all that!
Blogging daily now at www.volume.zone
  • #596
  • Edited 11:55pm Oct 12, 2010 10:44pm | Edited 11:55pm
Look at this weekly chart. Look at the cross of the stoch. Could price rise a few hundred pips?....sure....not much more then that....and that would be unusual when you look at the red verticles on the weekly chart. The stoch and RSI have both turned over. When the stoch turns over it is rare that price rises above the previous candle. It could do 115.25 or so. I think it will end up in the area of 112.00 between today and....

The Stoch does not lie. E/J is falling soon. (now soon could be a week on the weekly) It would have to be something very unusual to be otherwise.
Attached Image (click to enlarge)
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  • #597
  • Oct 12, 2010 10:51pm Oct 12, 2010 10:51pm
Quoting cugir321
Look at this weekly chart. Look at the cross of the stoch. Could price rise a few hundred pips?....sure....not much more then that....and that would be unusual when you look at the red verticles on the weekly chart. The stoch and RSI have both turned over. When the stoch turns over it is rare that price rises above the previous candle.

The Stoch does not lie. E/J is falling soon. It would have to be something very unusual be otherwise.

Would you be shorting this pair??
  • #598
  • Edited 11:40pm Oct 12, 2010 10:59pm | Edited 11:40pm
Not yet....wait a little. There is a main trendline at 115.00 or a bit more. It could go to it. The weekly has a lot of play in the candles and indicators. See if it breaks the resistence line that it's at right now. 114.50. If it doesn't...there's plenty of time to let it prove itself with price action.

Malc has a valid point.....I still say....the indicators don't lie....especially on the daily, weekly.....look at the stochastics on the chart above. It's like clock work on the weekly!!! It crosses and turns over....price falls. Actually you could probably trade the weekly with just the stochastic. Wait for the reversal candle and the next one to break the low of the previous candle. When the stoch crosses. Enter. Set the trade at about 300 pips sl and 300 pips profit. I'm not telling you to trade the weekly. Most folks say not to. There's too much play in it.

I don't like that the rsi is rather flat at this candle....that's the only thing that bothers me. All the others are sharp angles.

Every euro pair....the stoch is up very high and crossing down on the weekly. I think the euro's run up is changing a bit for a time. It may resume up after a few weeks because the monthlys are not maxed up. They don't seem ready to fall.

Look at the weekly stoch on all the euro pairs and make the decision for yourself. Now look at the stoch on all the USA pairs and tell me what you see? It's the opposite. A change is coming. Both currencies are poised to change. The dollar up...the euro down.

Quoting JGforex7780
Would you be shorting this pair??
  • #599
  • Oct 12, 2010 11:49pm Oct 12, 2010 11:49pm
C

indies do not mean squat when things move impulsively , that is one thing i have come to learn in forex. it is like saying a gate across the rail tracks will stop a moving freight train.

ej could move to 120 before your weekly stochastics played out , hell stochastic would go into bear div and ej could still be heading up.

all I know is that right now eu and gu have about 140 pip daily ranges .. we just have to figure out which way they are for any particular day.

Did you ever put that MA of rskx i gave you on a chart ? you could place setting at 10 and get rid of all other indies



Quoting cugir321
Not yet....wait a little....
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  • #600
  • Edited 9:22am Oct 13, 2010 6:16am | Edited 9:22am
Here's a 4 hr chart - E/J

Interesting. So you don't like my indicators.

Notice the yellow line in the TDI....it's below the 50 line. The 1 hr is well turned over. The yellow is going flat on the 1hr....that says bear.

Lots of previous divergence on the daily tdi.

Malc....I don't want 1 indicator. There's many things I wouldn't see with 1 indicator. I like seeing the divergence on the tdi. The quick movement of the 3 rsi. The location of price and the TDI bollingers. The cross of the stoch. The sharp angle of the green tdi line.

Yes, Malc, I know it could still rise until London close. There's no E or J news until later tonight...7:50pm eastern time usa.
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