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  • #317,921
  • Edited 8:41am Nov 2, 2010 8:22am | Edited 8:41am
I see it breaks up , anyway the diamond ghost still in situ & not unvalidated yet wherase as usdx failed hold the tl at 77.13 , not seeing chart but should be & bear continued , the good bounce next can be at last tl at 76.01 or nearer now . So can expect eu pullback at 1.3993 where broken tl or around to go up . 4096 and 4156 may next tagets even mere spikes up .lets see .

just check usdx chart , yes bear continued nimonally so far 77.72 now , old tl , new one broken & next to interact 76.70 support for some time perhaps before go down & eu up sustain.
fontu
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #317,922
  • Nov 2, 2010 8:33am Nov 2, 2010 8:33am
If you think what to do when major news release................

http://www.mediafire.com/?nmk4jynboyj
  • #317,923
  • Nov 2, 2010 8:34am Nov 2, 2010 8:34am
Quoting T@rantula
How do u spot confluence? What is the basic aspect of PA trading?
Zoom out on a chart and things are pretty obvious...if one knows how to SEE.

Trading is simple. Price either breaks to new highs/lows, or reverses from highs/lows. It can't do anything else. Why complicate things? Applying clockworks Silent Service Method to lower time frame charts over the past 2 years along with some ingenious insight from Kreslik forum has made me...profitable. Of course there are millions of ways to trade...thousands can be profitable, it just depends on the person.
  • #317,924
  • Nov 2, 2010 8:37am Nov 2, 2010 8:37am
Given the plethora of news this week including election today. IMO, the day is over (intraday direction-wise) & it will sit chopping around key daily R before deciding if we continue to 1.44xx till the end of the year or the weekly uptrend will break to LL.

We'll see

sisse
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Pending conversations? PM for a chat...I am mainly in OTM now
  • #317,925
  • Nov 2, 2010 8:38am Nov 2, 2010 8:38am
Quoting T@rantula
How do u spot confluence? What is the basic aspect of PA trading?
when a pivot levels lines up trend line.

when a fib lines up with a psych level.

any combination of of indicators thought to be used by bank traders will often reinforce a trade.

stan
  • #317,926
  • Nov 2, 2010 8:39am Nov 2, 2010 8:39am
Good time to long EU on m15 TF. target price 4065. stops around 3995
  • #317,927
  • Nov 2, 2010 8:40am Nov 2, 2010 8:40am
Quoting T@rantula
How do u spot confluence? What is the basic aspect of PA trading?
By confluence, you mean a big level of sup/res where you spot fibo, moving averages,etc.. ?

Personally i don't spot confluence, the PA is telling you where its time to enter/exit.
I'm using pure PA as well, with support/resistance to exit...but never to enter a trade.
I do not enter a trade based of the fact its near a resistance. Some people do that, they place entry order near a resistance or support days before the price goes there, to me its gamble, 50% it breaks it, 50% it bounces off it. But they are doing okay so its good them

For example your long on GU was very nice (well done)...for me 1,5985 was a great exit point (where i exited a short)...but solely based on PA i did not enter a long.

But what is the basic aspect of PA trading ? can't answer it lol

PS: thanks for the v !
COT: The precious data ignored
  • #317,928
  • Nov 2, 2010 8:40am Nov 2, 2010 8:40am
Quoting nebuman213
Zoom out on a chart and things are pretty obvious...if one knows how to SEE.

Trading is simple. Price either breaks to new highs/lows, or reverses from highs/lows. It can't do anything else. Why complicate things? Applying clockworks Silent Service Method to lower time frame charts over the past 2 years along with some ingenious insight from Kreslik forum has made me...profitable. Of course there are millions of ways to trade...thousands can be profitable, it just depends on the person.
ok.no comment. Good luck.
  • #317,929
  • Nov 2, 2010 8:41am Nov 2, 2010 8:41am
Muahahahahhaha.. Im imbaaaaaa

swing swing swinggggggg
Swinger Club
  • #317,930
  • Nov 2, 2010 8:42am Nov 2, 2010 8:42am
Quoting enterfx
Triangle and RSI broke through which I think it is needed for a decent bear setup. Let's see how far but if I get a decent divergence and price spikes up to the upper red line at 4105/10, I'll short there. We might see some bigger shorts at that level.


Attachment
very nice analysis enterfx!
  • #317,931
  • Nov 2, 2010 8:42am Nov 2, 2010 8:42am
Quoting T@rantula
ok.no comment. Good luck.
You as well.
  • #317,932
  • Nov 2, 2010 8:46am Nov 2, 2010 8:46am
Quoting PayTheLimit
Seems like 4026/29 trying to turn into some resistance..
s/b support now...
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Look Sharp/Trade Tight
  • #317,933
  • Nov 2, 2010 8:47am Nov 2, 2010 8:47am
EU 1.4044 reaction will be telling.
  • #317,934
  • Nov 2, 2010 8:48am Nov 2, 2010 8:48am
Quoting druckenmillr
when a pivot levels lines up trend line.

when a fib lines up with a psych level.

any combination of of indicators thought to be used by bank traders will often reinforce a trade.

stan
There is more:

All PA traders need to know. The very basic of PA trading is buying support, selling resistance. Higher swing highs and higher swing lows determine an uptrend and lower swing highs and lower swing lows determine a downtrend.

Trendlines are a necessity. For me also PREVIOUS SWING highs or lows, long time resistance/support lines, trendlines, counter trend lines,retracement lines and round numbers. Fibos for adding confluence.

I prefer 70-30 in my favor rather than 50-50 on each trade
  • #317,935
  • Nov 2, 2010 8:49am Nov 2, 2010 8:49am
Quoting forexings
Why not market will find a TL?
Bullsh*t Fed neither tried to break the lower TL (in good bear position) nor save upper TL.

This is a good punishment for their textbook action.
Even a foolish man don't think same action at same time for several time will work.
Foolish Fed like undervalued USD.

Just one question: why Fed didn't support USD when bear came at lower TL???
Duffer Fed now moaning to save USD.
4 white BV candlestick serially and failed. Why didn't they apply it when price was 3865?? They are snoring that time
You cannot learn better without losing
  • #317,936
  • Nov 2, 2010 8:51am Nov 2, 2010 8:51am
Quoting fx|green
EU 1.4044 reaction will be telling.

Say green, how many trades do you average a day or week, thanks in advance PTL...
Look Sharp/Trade Tight
  • #317,937
  • Nov 2, 2010 8:53am Nov 2, 2010 8:53am
Quoting kuroro001
By confluence, you mean a big level of sup/res where you spot fibo, moving averages,etc.. ?

Personally i don't spot confluence, the PA is telling you where its time to enter/exit.
I'm using pure PA as well, with support/resistance to exit...but never to enter a trade.
I do not enter a trade based of the fact its near a resistance. Some people do that, they place entry order near a resistance or support days before the price goes there, to me its gamble, 50% it breaks it, 50% it bounces off it. But they are doing okay so its good them

For...
If u trade PA u need a confluence of previous swing highs/lows, fibos, trendlines and counter trendlines,round numbers and long time s/r line (spotted on daily, weekly or monthly) When u enter a trade ur chances are 50 50. When u add confluence around SUPPORT or a RESISTANCE u stack odds to ur favour.

The basic principles of PA is buying support, selling resistance. Setup and trigger charts should never be the same one.
  • #317,938
  • Nov 2, 2010 8:53am Nov 2, 2010 8:53am
omg - huge volatility with the NY opening...
Pecunia non olet
  • #317,939
  • Nov 2, 2010 8:56am Nov 2, 2010 8:56am
Short targeting 1.3985.
  • #317,940
  • Nov 2, 2010 8:58am Nov 2, 2010 8:58am
Quoting T@rantula
There is more:

All PA traders need to know. The very basic of PA trading is buying support, selling resistance. Higher swing highs and higher swing lows determine an uptrend and lower swing highs and lower swing lows determine a downtrend.

Trendlines are a necessity. For me also PREVIOUS SWING highs or lows, long time resistance/support lines, trendlines, counter trend lines,retracement lines and round numbers. Fibos for adding confluence.

I prefer 70-30 in my favor rather than 50-50 on each trade
whatever works.

by the way... i think traders may by forgetting this is election day in the US.

Dems looking to get slaughtered... which is bullish dollar.

stan
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