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EURUSD

  • #340,661
  • Dec 7, 2010 1:42am Dec 7, 2010 1:42am
Quoting Delite
To make the break clear does it have to be a closed 4H candle or can it be a 1H?
From a theoretical point of view is a close. However, you need to put that in context. If the break is large it can hit the daily R meaning that it will be too late. On the other hand you can "play" the break in a lower timeframe before it happens with extreme care until you have confirmation or wait for a pullback after the break.

If you solve that question for all breaks and fades you will have found the Holy Grail. Sadly everything is about context and this is not a "rule" that can be written in stone (like everything else in trading...except if you have an auto system based on statistical rules).

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #340,662
  • Dec 7, 2010 1:44am Dec 7, 2010 1:44am
I just like this kind of trap to get bear selling at this H1 pinbar!

Next target is 1,3410-20.
COT: The precious data ignored
  • #340,663
  • Dec 7, 2010 1:46am Dec 7, 2010 1:46am
long 3372, sl 3330, tp 3442
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 15 KB
Look Sharp/Trade Tight
  • #340,664
  • Dec 7, 2010 1:47am Dec 7, 2010 1:47am
I have posted some pics of market trend lines on Euro and support and resistances here in my journal:

http://www.forexfactory.com/showthre...=1#post4226068

For those who are interested..

I just wanted to share pics of my workstation..
  • #340,665
  • Dec 7, 2010 1:47am Dec 7, 2010 1:47am
Quoting T@rantula
it could be a h1 also. Watch h1, zoom into a smaller tf and try to spot BPC pattern. Thats how I do.

Thanks! BPC... break - ? - continue. What is the P?
  • #340,666
  • Dec 7, 2010 1:48am Dec 7, 2010 1:48am
Quoting kuroro001
I just like this kind of trap to get bear selling at this H1 pinbar!

Next target is 1,3410-20.

K, we need a good hourly close...
Look Sharp/Trade Tight
  • #340,667
  • Dec 7, 2010 1:51am Dec 7, 2010 1:51am
Quoting Delite
Thanks! BPC... break - ? - continue. What is the P?
Break - Pullback - Continuation .
Murrey Math on every TF + Divergences on higher TFs
  • #340,668
  • Dec 7, 2010 1:51am Dec 7, 2010 1:51am
last two 5min candles bulls and bears were fighting for control over the eur/usd and i think the bulls won... it was a second test at 1.3373 and they broke it. currently i`m sitting on a 30pip profit but i will try to reach 50 more to the 4h resistance.
  • #340,669
  • Dec 7, 2010 1:51am Dec 7, 2010 1:51am
Quoting PayTheLimit
long 3372, sl 3330, tp 3442
Pay, Are you aiming for a test of highs or a break of daily R? Above 1.341x could trigger a nice weekly long signal and your 1.344x is way above that level....

In any case, best of luck in that trade.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #340,670
  • Dec 7, 2010 1:53am Dec 7, 2010 1:53am
Quoting kuroro001
I just like this kind of trap to get bear selling at this H1 pinbar!

Next target is 1,3410-20.
3420 resistance...
  • #340,671
  • Dec 7, 2010 1:53am Dec 7, 2010 1:53am
Quoting sisse
Pay, Are you aiming for a test of highs or a break of daily R? Above 1.341x could trigger a nice weekly long signal and your 1.344x is way above that level....

In any case, best of luck in that trade.

sisse
test of the highs...
Look Sharp/Trade Tight
  • #340,672
  • Dec 7, 2010 1:54am Dec 7, 2010 1:54am
Quoting PayTheLimit
K, we need a good hourly close...
No worries...buying dips until 1,3480-1,3500 is the option..my only option for the moment.
Good close or not, lets be patient mate.
And here goes your good close, i really doubt of a sell off at this stage.

The first little move down was because it hit 1,3362-70 area.
Now its cleared and ready for 1,3410
COT: The precious data ignored
  • #340,673
  • Dec 7, 2010 1:54am Dec 7, 2010 1:54am
Quoting Mikispag
Break - Pullback - Continuation .

Duh! Thanks!
  • #340,674
  • Dec 7, 2010 1:55am Dec 7, 2010 1:55am
Quoting kuroro001
I just like this kind of trap to get bear selling at this H1 pinbar!

Next target is 1,3410-20.
Btw, kuroro, we owe you a beer round for the longs from yesterday ...


sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #340,675
  • Dec 7, 2010 1:55am Dec 7, 2010 1:55am
risky trade .
going short @ 3388
I SEE YOU !!
  • #340,676
  • Dec 7, 2010 1:55am Dec 7, 2010 1:55am
Quoting Mikispag
Break - Pullback - Continuation .
Breakout

This could be a momentum break leading to 3410-20
  • #340,677
  • Dec 7, 2010 1:58am Dec 7, 2010 1:58am
Quoting T@rantula
Breakout

This could be a momentum break leading to 3410-20
Right, sorry .

3410 is my target, too.
A 4H close above 3410 is a long-term long signal.
Murrey Math on every TF + Divergences on higher TFs
  • #340,678
  • Dec 7, 2010 1:59am Dec 7, 2010 1:59am
Quoting T@rantula

This could be a momentum break leading to 3410-20
Not exactly..

I might enter as BPC is forming
  • #340,679
  • Dec 7, 2010 1:59am Dec 7, 2010 1:59am
sell EU @ 1.3385
sell AU @ 0.996
buy UJ @ 82.6

  • #340,680
  • Dec 7, 2010 1:59am Dec 7, 2010 1:59am
Quoting sisse
Btw, kuroro, we owe you a beer round for the longs from yesterday ...


sisse
hehe yes, whenever you come to France, i will be there for my beer
COT: The precious data ignored
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