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  • #316,281
  • Oct 29, 2010 8:36am Oct 29, 2010 8:36am
Weak volume on the pullback!!!

Legs are building on the 15 min chart.

Just seems bullish to me. Just a hunch not sure though, I have profit locked in.
Know when to hold em, Know when to fold em!
  • #316,282
  • Oct 29, 2010 8:38am Oct 29, 2010 8:38am
Quoting kuroro001
Good luck with your longs guys....i dont have the guts to do the same...
The 2-3pm candle often proved to be a fake move...especially when its that big with high vol.

And gbpusd printing a bull trap pattern i wont go long anywhere.

But i hope you guys are right
Good observation.

But i think GU is trying to turn previous 1.5960 resistance to support.
Same thing with EG, its trying to find its support.

In other words, EU is making a base here.

But have to be careful, boundaries are made to break
They think they are smarter than I am.
  • #316,283
  • Oct 29, 2010 8:41am Oct 29, 2010 8:41am
http://www.youtube.com/watch?v=7o3mSyRKW0Q

  • #316,284
  • Oct 29, 2010 8:41am Oct 29, 2010 8:41am
Quoting Naish
It start to look like triangle formation to me, nice ab - and c up, for confirmation of triangle, the E leg is normally 5 wave structure and doesn't need to end on the line of the triangle!!! From end of E leg is good count on my parer 428 pips up in wave 5

But what is for sure - we have 35°C, water - 28°C, wind 5 and flat Windsurfing time

Nice weekend to all
Hello Naish,

good analysis. After the recent sharp upmove, the possibility for a triangle formation gets bigger. I have us since weeks in a Leading Diagonal move down from the top (asuming we have topped). Chances for both scenarios are the same, but get slowly bigger for triangle move.

We will see. When we move over 3952 oday, then I think I can move my LD count to the recycling bin and put the triangle move to my main count.

Hey, great conditions for surfing. Where are you located?

Best to you and have a nice weekend,


Markus
  • #316,285
  • Oct 29, 2010 8:46am Oct 29, 2010 8:46am
hi,
can someone help me to understand the purpose of QE?
i understand that the point is to increase inflation and convince people to buy more and company to hire more.
but how higher prices can convince anyone to increase spending?

thanks in advace
  • #316,286
  • Oct 29, 2010 8:47am Oct 29, 2010 8:47am
Quoting Z3iz3i
Good observation.

But i think GU is trying to turn previous 1.5960 resistance to support.
Same thing with EG, its trying to find its support.

In other words, EU is making a base here.

But have to be careful, boundaries are made to break
keeping an eye out for those pairs good opportunities..there is more room to go up on eu
  • #316,287
  • Oct 29, 2010 8:49am Oct 29, 2010 8:49am
Quoting thorr
hi,
can someone help me to understand the purpose of QE?
i understand that the point is to increase inflation and convince people to buy more and company to hire more.
but how higher prices can convince anyone to increase spending?

thanks in advace
print more money basically which us does a lot
  • #316,288
  • Oct 29, 2010 8:53am Oct 29, 2010 8:53am
Quoting thorr
hi,
can someone help me to understand the purpose of QE?
i understand that the point is to increase inflation and convince people to buy more and company to hire more.
but how higher prices can convince anyone to increase spending?

thanks in advace
they buy bonds, bond rates go down, that sends intrest rates down which means people have more money to spend, i think anyway
  • #316,289
  • Oct 29, 2010 8:56am Oct 29, 2010 8:56am
Quoting KumoDragon
It's the trendmagic indicator from the trendmagic indictor thread.

The H/L lines are something I added. , "zz fractal A."
Just loaded it on my charts 5 min ago used it for buying the pullback on the 15 min chart and in profit.

This thing is a no brainer. Helps build trust in the trend. I would like to get to the point where I dont need to use this to have the confidence to buy dips in uptrend and sell rallies in downtrend but its a start. Thanks so much for posting this.
Know when to hold em, Know when to fold em!
  • #316,290
  • Oct 29, 2010 8:58am Oct 29, 2010 8:58am
ok thanks for reply,
so people got more money ( i understand that money is borrowed) but the prices are going higher your purchasing power is more less at the same level
i still do not get the purpose of that action
  • #316,291
  • Oct 29, 2010 8:59am Oct 29, 2010 8:59am
Revised UoM Consumer Sentiment less than expectation & back what doing before pa .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #316,292
  • Oct 29, 2010 9:00am Oct 29, 2010 9:00am
Quoting thorr
ok thanks for reply,
so people got more money ( i understand that money is borrowed) but the prices are going higher your purchasing power is more less at the same level
i still do not get the purpose of that action
us prints their own money..to revive the ecomony they use qe print more money so it can be borrowed for business etc
  • #316,293
  • Oct 29, 2010 9:02am Oct 29, 2010 9:02am
I think that my Leading Diagonal count is not far from beeing invalidated. When price moves above 3952 I will be forced to recount. The number one alternative will be a triangle count. A triangle count will place us in a wave four position with a new high to be made for the following wave 5.

With a break above 3952 it is relatively safe to go long with a target around 1.400 for wave D of the triangle. Then short with a first target around 3750.

Which pattern will evolve depends on the action of the next few hours.

Keep in mind: we have Friday and Friday is a day where you can easily get rid of all the pips you made the days ago. So my advice: play it safe.

Pics on my blog......
  • #316,294
  • Oct 29, 2010 9:02am Oct 29, 2010 9:02am
Hi Markus,

the second count possibility is of course wave 5 UP, but this move up and down was not 5 wave structure and the correction was exact on point 218 up means we should touch the triangle line near 1.4025 (likely monday) and if it's a third wave of 5 then the 1.618x measure targets 1.4158.
I am living in Barcelona - Venezuela last 1,5 years, nice place to live, water is all year over 25°C clean, food perfect, nice girls, perfect conditions for not just water-sports! Europe was to could for me


Quoting infinitus
Hello Naish,

good analysis. After the recent sharp upmove, the possibility for a triangle formation gets bigger. I have us since weeks in a Leading Diagonal move down from the top (asuming we have topped). Chances for both scenarios are the same, but get slowly bigger for triangle move.

We will see. When we move over 3952 oday, then I think I can move my LD count to the recycling bin and put the triangle move to my main count.

Hey, great conditions for surfing. Where are you located?

Best to you and have a nice weekend,


Markus
  • #316,295
  • Oct 29, 2010 9:02am Oct 29, 2010 9:02am
Typical 50% retracement on the 5m after massive run up from news...
  • #316,296
  • Oct 29, 2010 9:02am Oct 29, 2010 9:02am
were going for a break... hope so

moved sl to be at 890
  • #316,297
  • Oct 29, 2010 9:02am Oct 29, 2010 9:02am
Quoting goods
Just loaded it on my charts 5 min ago used it for buying the pullback on the 15 min chart and in profit.

This thing is a no brainer. Helps build trust in the trend. I would like to get to the point where I dont need to use this to have the confidence to buy dips in uptrend and sell rallies in downtrend but its a start. Thanks so much for posting this.
Be careful with that it's not a holy grail. Like all indicators what it shows is just based off of price.

Thats why I use, H,L,HL formations coupled with the 5M. It works pretty good coupled with price action.

P.S. Stopped out +19 and back in long because of the low that formed. +15 now, probably just about the same trade you are in.

P.P.S. second trade locked in at BE just because it's friday and I dont want to get a loser right after a winner.
  • #316,298
  • Oct 29, 2010 9:06am Oct 29, 2010 9:06am
Quoting KumoDragon
Be careful with that it's not a holy grail. Like all indicators what it shows is just based off of price.

Thats why I use, H,L,HL formations coupled with the 5M. It works pretty good coupled with price action.

P.S. Stopped out +19 and back in long because of the low that formed. +15 now, probably just about the same trade you are in.
Of course my friend, it is only confluence it helps to see dips and rallies in trend. I am a price action guy, I dont use bb's ma's stoch's or any of that. I snagged 20 pips on first trade I am back up 40 pips now Increasing my stop level every couple minutes or so.

This is a price action based confluence indicator for me.
Know when to hold em, Know when to fold em!
  • #316,299
  • Oct 29, 2010 9:10am Oct 29, 2010 9:10am
Just wondering buddies i see strong buying at 1.3800 but at 1.3900 price seems to move freely up /down through.

Does anyone feel that 1.3900 is a kinda middle point for the big dogs .

ie they do lots of buying below and cant break 1.3800 except for short period of time and the same above 1.4000 they start selling .

Just wondered if any one feels the same.

It would not be a massive surprise to see close to 1.4000 before the monthly weekly and daily sell off at london close today.

And also interesting to see if any of the selloff is bought into like yesterday.

Still learning but it seems to be getting clearer i hope lol.
making green pips large and red pips small this is my goal.
  • #316,300
  • Oct 29, 2010 9:10am Oct 29, 2010 9:10am
i went out for 30 pips... that saved my day...

have enough for the week


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