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  • #319,841
  • Nov 5, 2010 3:14am Nov 5, 2010 3:14am
one hell of a fake break out
  • #319,842
  • Nov 5, 2010 3:17am Nov 5, 2010 3:17am
Quoting Pat Chiko
Any opinion to long EU @ 1.41923 ?
could be headed for the upper red resistance for now, but stalled at bollinger band... it's friday ;-)
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  • #319,843
  • Nov 5, 2010 3:18am Nov 5, 2010 3:18am
Quoting DrLobo
one hell of a fake break out
Oh oh. I better put my SL . since I;ve already LONG @ 1.41979

I didn.t know it was a fake break out, Thank for telling me
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #319,844
  • Nov 5, 2010 3:21am Nov 5, 2010 3:21am
that was a half joke (although joke is on me because i was short). This is a strong bull run.
Any down movement now looks like its just going to be correction only.



Quoting Pat Chiko
Oh oh. I better put my SL . since I;ve already LONG @ 1.41979

I didn.t know it was a fake break out, Thank for telling me
  • #319,845
  • Nov 5, 2010 3:25am Nov 5, 2010 3:25am
Quoting Pat Chiko
I didn.t know it was a fake break out, Thank for telling me

Friday & NFP day. It's fake today.
Don't just be a sheep : make your own idea of it.
  • #319,846
  • Nov 5, 2010 3:28am Nov 5, 2010 3:28am
1,4241 - might be nice opportunity for short scalp:

61,8 fib
1:1 with recent move up

but it's friday and NFP day so keep your seatbelt fasten!
  • #319,847
  • Nov 5, 2010 3:30am Nov 5, 2010 3:30am
Looks like an expanding triangle to me.

Found on the web : "Expanding triangles are volatile formations found at tops and bottoms. They are reversal patterns. Often you can get 2 or more sequential expanding triangles until the major reversal occurs. An indicator like MACD, Stochastic , RSI or CCI will usually show divergence."

Perhaps, our beloved spider could tell us more if around ...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5.gif Size: 14 KB
Don't just be a sheep : make your own idea of it.
  • #319,848
  • Nov 5, 2010 3:33am Nov 5, 2010 3:33am
Quoting kassec
"An indicator like [...] CCI will usually show divergence."
Confirmed.
Attached Image (click to enlarge)
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Don't just be a sheep : make your own idea of it.
  • #319,849
  • Nov 5, 2010 3:34am Nov 5, 2010 3:34am
Quoting kassec
Looks like an expanding triangle to me.

Found on the web : "Expanding triangles are volatile formations found at tops and bottoms. They are reversal patterns. Often you can get 2 or more sequential expanding triangles until the major reversal occurs. An indicator like MACD, Stochastic , RSI or CCI will usually show divergence."

Perhaps, our beloved spider could tell us more if around ...
you are looking at an m5 chart. take it for what it is, but the result will basically last the duration of the chart the pattern is taken from.
  • #319,850
  • Nov 5, 2010 3:34am Nov 5, 2010 3:34am
Hello All,

After all the bad press this thread has been getting lately in the Cable thread, I thought I'd pop in to lend a helping hand.

I see a lot of charts with bollinger bands, or multi-colored fibs drawn every 10 pips, but here's an easier way to trade this pair. Guess who's making more pips, the guy trading off these (me) or the guy watching whatever a bollinger band is.

Higher time frame trendlines and S&R folks - all you need.

Cheers
Attached Image (click to enlarge)
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Cap
  • #319,851
  • Nov 5, 2010 3:39am Nov 5, 2010 3:39am
Quoting The Captain
Hello All,

After all the bad press this thread has been getting lately in the Cable thread, I thought I'd pop in to lend a helping hand.

I see a lot of charts with bollinger bands, or multi-colored fibs drawn every 10 pips, but here's an easier way to trade this pair. Guess who's making more pips, the guy trading off these (me) or the guy watching whatever a bollinger band is.

Higher time frame trendlines and S&R folks - all you need.

Cheers
you are missing some ;-)
Attached Image (click to enlarge)
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  • #319,852
  • Nov 5, 2010 3:40am Nov 5, 2010 3:40am
If you are into chart patterns Check Bulkowski (Encyclopedia of Chart Patterns) in Amazon or in your local library. It's probably the only serious source of info on the topic. Just my 2 cents.

sisse
Quoting kassec
Looks like an expanding triangle to me.

Found on the web : "Expanding triangles are volatile formations found at tops and bottoms. They are reversal patterns. Often you can get 2 or more sequential expanding triangles until the major reversal occurs. An indicator like MACD, Stochastic , RSI or CCI will usually show divergence."

Perhaps, our beloved spider could tell us more if around ...
Pending conversations? PM for a chat...I am mainly in OTM now
  • #319,853
  • Nov 5, 2010 3:43am Nov 5, 2010 3:43am
Quoting FibbinArchie
sl now @b/e
I could be be creaming this for sardines, but swinging for the fences...
.....a sardines lover, that is the spirit, good job, good job.......

how are you FibbinArchie, ready for NFP?........

hello everybody...........
The Chonchy
  • #319,854
  • Nov 5, 2010 3:45am Nov 5, 2010 3:45am
Quoting Mr Hatch
you are missing some ;-)
COT: The precious data ignored
  • #319,855
  • Nov 5, 2010 3:45am Nov 5, 2010 3:45am
Quoting Mr Hatch
you are missing some ;-)
how are you today Mr. hatch?
The Chonchy
  • #319,856
  • Nov 5, 2010 3:46am Nov 5, 2010 3:46am
Quoting kuroro001
how are you doing my friend?
The Chonchy
  • #319,857
  • Nov 5, 2010 3:46am Nov 5, 2010 3:46am
Quoting chonchy
hello everybody...........
hola don Carlos
"If The Fool persists in his Folly he will become wise." - William Blake
  • #319,858
  • Nov 5, 2010 3:47am Nov 5, 2010 3:47am
Quoting Mr Hatch
you are missing some ;-)
A lot of those are useless and you could not accurately trade off of them. Half the time price didn't respect those those trendlines as not a lot of traders would have something like that drawn.

The ones I showed were obvious trendlines, which turn price with a high probability.
Cap
  • #319,859
  • Nov 5, 2010 3:48am Nov 5, 2010 3:48am
Quoting chonchy
.....a sardines lover, that is the spirit, good job, good job.......

how are you FibbinArchie, ready for NFP?........

hello everybody...........
Hey Carlos, missed opportunity to bank a 30, took a re-entry and trying to sit on my hands, higher tf techs are pointing up atm, also a possible top side shakeout in the offing, not convinced by tick vol of reversal yet, could be NFPs will be the catalyst...
  • #319,860
  • Nov 5, 2010 3:49am Nov 5, 2010 3:49am
Quoting Mr Hatch
you are looking at an m5 chart.
Check M15 & M30, the pattern is clean on both. It's just easier to spot on M5.

Quoting Mr Hatch
take it for what it is, but the result will basically last the duration of the chart the pattern is taken from.
No. This pattern is forming since more than 6 hours and London open failed to setup a M5/M15 trend for now. You can spot it even on M30. There's something more cooking. I won't be surprised PA to play inside the triangle until big news.

Check the congestion triangle just before : it played quite well (75%). Even on M5 ...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5.gif Size: 17 KB
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