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EURUSD

  • #313,921
  • Oct 26, 2010 6:36am Oct 26, 2010 6:36am
Have you noticed yesterday got to 1.4080
today we got to 1.3980 same price action 100 pips lower.
making green pips large and red pips small this is my goal.
  • #313,922
  • Oct 26, 2010 6:37am Oct 26, 2010 6:37am
What are your thoughts on trend direction?

I have trend down on all sub 1 hour TFs, neutral on 1 hour and up on 4 hour and higher...

Price currently resting at base of pennant on 1 hour TF...
  • #313,923
  • Oct 26, 2010 6:43am Oct 26, 2010 6:43am
Quoting T@rantula
Well probably many of u dont use BPC pattern. Its a great tool to use especially on trend collapse when many traders make mistakes.
A bearish one is showing up on H4.
Don't just be a sheep : make your own idea of it.
  • #313,924
  • Oct 26, 2010 6:43am Oct 26, 2010 6:43am
we are trading 100 pips lower than yesterday so unless something happens for now its down.
In my humble opinion.
making green pips large and red pips small this is my goal.
  • #313,925
  • Oct 26, 2010 6:44am Oct 26, 2010 6:44am
buy it to get c of 2 then sell it to get c of 4 simple trading
Attached Image (click to enlarge)
Click to Enlarge Name: eur now.gif Size: 17 KB
  • #313,926
  • Oct 26, 2010 6:46am Oct 26, 2010 6:46am
Quoting FibbinArchie
What are your thoughts on trend direction?

I have trend down on all sub 1 hour TFs, neutral on 1 hour and up on 4 hour and higher...

Price currently resting at base of pennant on 1 hour TF...
on 4h and 1h its down heading to 1.37 - 1.36

that's how i see it in the big picture .

now i am on the sidelines coz I trade 5min and 15m charts now days , it has more action
waiting for new opportunities
I SEE YOU !!
  • #313,927
  • Oct 26, 2010 6:46am Oct 26, 2010 6:46am
Quoting kassec
A bearish one is showing up on H4.
Pls post the chart. Mine shows a congestion triangle on H4.
  • #313,928
  • Oct 26, 2010 6:50am Oct 26, 2010 6:50am
We hit 20 twice if it dont break maybe double bottom for now ?
making green pips large and red pips small this is my goal.
  • #313,929
  • Oct 26, 2010 6:53am Oct 26, 2010 6:53am
Quoting T@rantula
Pls post the chart. Mine shows a congestion triangle on H4.
First trendline broken. New trendline formed with new low during pullback. And continuation is about to break down the new trend line.

Isn't that the pattern you were talking about ?


EDIT: this chart from a GMT broker.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4.png Size: 31 KB
Don't just be a sheep : make your own idea of it.
  • #313,930
  • Oct 26, 2010 6:54am Oct 26, 2010 6:54am
Once my hourly closes, I'm on short patrol...
Look Sharp/Trade Tight
  • #313,931
  • Oct 26, 2010 7:01am Oct 26, 2010 7:01am
Quoting Mr Hatch
hi guys. didn't miss too much i see...
Morning Hatch... looks like I am pretty happy I went to bed when I did as well...
  • #313,932
  • Oct 26, 2010 7:02am Oct 26, 2010 7:02am
i'm tempted to short...
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader 5.png Size: 78 KB
So get ready!
  • #313,933
  • Oct 26, 2010 7:04am Oct 26, 2010 7:04am
Quoting PayTheLimit
Once my hourly closes, I'm on short patrol...
I like ticks because if i set to 233 for eg and it closes quick i know there has been 233 trades.
Waiting for a period of time to pass i find doesnt prove much to me only that in xxx time price moved.
at least with ticks you can divide the trades by the ticks, gives you an idea how many trades moved it that price and the speed the candle forms tells you how volatile it moved also.combined with volume ,it seems to have helped me .

just my opinion maybe it could give you more entries rather than having to wait.if they form quick something is happening, if they forming slow you can chill.
making green pips large and red pips small this is my goal.
  • #313,934
  • Oct 26, 2010 7:06am Oct 26, 2010 7:06am
Quoting kassec
First trendline broken. New trendline formed with new low during pullback. And continuation is about to break down the new trend line.

Isn't that the pattern you were talking about ?


EDIT: this chart from a GMT broker.
Yes it is the BPC forming. Still I havent drawn many TLs, as there is a possibility of a BREAKOUT trade. Look at the chart below. Also if u trade H4 u need to switch to h1 for entries. This TL is stronger and ill be looking for a breakout pattern or BPC below this TL.


Attached Image (click to enlarge)
Click to Enlarge Name: 6.jpg Size: 112 KB
  • #313,935
  • Oct 26, 2010 7:07am Oct 26, 2010 7:07am
Quoting dbfusion
on 4h and 1h its down heading to 1.37 - 1.36

that's how i see it in the big picture .

now i am on the sidelines coz I trade 5min and 15m charts now days , it has more action
waiting for new opportunities
How are you defining that trend, I'm using MAs...
  • #313,936
  • Oct 26, 2010 7:08am Oct 26, 2010 7:08am
DS1 and WP at this area 1.3899 there could be a fake breakout to 1.388 to go up and get traders upside down my thoughts
  • #313,937
  • Oct 26, 2010 7:13am Oct 26, 2010 7:13am
forexlive.com

Paul the Octopus cuts EUR/USD long, the hard way

Paul’s EUR/USD long has gone into a hot fryer, along with Paul himself. Citi’s EUR long has apparently gone the same way, indicative of the market having second thoughts as it was unable to overcome recent 1.4160 and 1.00 highs (AUD).
1.3900/10 is first support on dips with more down at 1.3860/65, where we have an hourly bottom and the 21-day moving average…
  • #313,938
  • Oct 26, 2010 7:15am Oct 26, 2010 7:15am
Quoting paul1
I like ticks because if i set to 233 for eg and it closes quick i know there has been 233 trades.
Waiting for a period of time to pass i find doesnt prove much to me only that in xxx time price moved.
at least with ticks you can divide the trades by the ticks, gives you an idea how many trades moved it that price and the speed the candle forms tells you how volatile it moved also.combined with volume ,it seems to have helped me .

just my opinion maybe it could give you more entries rather than having to wait.if they form quick something is happening,...
I respect your thoughts and have gone that route before. I used to use the 233 tick charts on futures. I am however looking for less entries at this time, it seems to suit me well. Yesterday I waited 7hours for a 20tick scalp, and to be honest I like that. In fact there are days when I dont even get a signal. Seems to keep me out of trouble. Talk to you later and good luck....PTL
Look Sharp/Trade Tight
  • #313,939
  • Oct 26, 2010 7:16am Oct 26, 2010 7:16am
below 3908/10 support I have 3878/80 next..
Look Sharp/Trade Tight
  • #313,940
  • Oct 26, 2010 7:17am Oct 26, 2010 7:17am
Quoting T@rantula
Yes it is the BPC forming. Still I havent drawn many TLs, as there is a possibility of a BREAKOUT trade. Look at the chart below. Also if u trade H4 u need to switch to h1 for entries. This TL is stronger and ill be looking for a breakout pattern or BPC below this TL.


Attachment
When do you enter your trade on BPC ? On second trend line breakout or on previous bars low breakout ?
Don't just be a sheep : make your own idea of it.
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