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  • #341,461
  • Dec 7, 2010 5:17pm Dec 7, 2010 5:17pm
Quoting wormboy
you are. that's an incomplete shoulder & there's no neckline break to make it a tradeable pattern ..
A good trade that I do is a long off the right shoulder so I do not need a NL break. I trade it to the NL or however many pips I can get. A separate trade would be a close above the NL and a pull back to it for an entry.
  • #341,462
  • Dec 7, 2010 5:18pm Dec 7, 2010 5:18pm
Quoting goods
PIP I am going with my gut on something here.

EU is increasing back into the demand area. I agree this possibly just pullback for move up further?

Call me crazy but I am long
Im long too off the h4 right shoulder.Targeting 3292 first (or however many pips I can get
  • #341,463
  • Dec 7, 2010 5:21pm Dec 7, 2010 5:21pm
Since I wasn't feeling sleepy, I went in with straddle at 3256 and 3257 (only half lot each) for a cheap thrill. Idea is to exit on strong S/R levels and take another trade to meet the orphaned one on the half way down or up.

In the meantime will look for scalp opportunities to cover potential small loss if it comes to it.
  • #341,464
  • Dec 7, 2010 5:22pm Dec 7, 2010 5:22pm
Quoting PipChick
Is this the one you are seeing? The one in red.
better on the 5m
Attached Image (click to enlarge)
Click to Enlarge Name: bear5.PNG Size: 34 KB
those who can, do. those who cant, talk about those who can
  • #341,465
  • Dec 7, 2010 5:24pm Dec 7, 2010 5:24pm
Quoting gatorinla
better on the 5m
Cool artwork.lol
  • #341,466
  • Dec 7, 2010 5:24pm Dec 7, 2010 5:24pm
is reuters crazy

title says one thing, article says the opposite


FOREX-Euro pares gains vs dollar as US Treasuries tumble


Tue Dec 7, 2010 12:54pm EST


* Euro relinquishes gains as U.S. Treasury yields spike
* Ireland budget passage optimism, U.S. tax cut weigh
* Support for euro seen as fleeting as weaknesses remain (Updates prices, adds quotes, details)
By Julie Haviv
NEW YORK, Dec 7 (Reuters) - The euro surrendered most of its gains against the dollar on Tuesday as U.S. Treasury yields jumped amid concerns over a proposed government extension of tax cuts








http://www.reuters.com/article/idUSN0728224820101207
  • #341,467
  • Dec 7, 2010 5:26pm Dec 7, 2010 5:26pm
Quoting gatorinla
the last guy who laughed at a comment made toward him, he booted.
anyone i know ?
hang on to your bread......unless you want toast
  • #341,468
  • Dec 7, 2010 5:27pm Dec 7, 2010 5:27pm
What a move down...i didn't expect such move
COT: The precious data ignored
  • #341,469
  • Dec 7, 2010 5:28pm Dec 7, 2010 5:28pm
Quoting PipChick
Cool artwork.lol
careful
Attached Image (click to enlarge)
Click to Enlarge Name: bear5.PNG Size: 17 KB
those who can, do. those who cant, talk about those who can
  • #341,470
  • Dec 7, 2010 5:29pm Dec 7, 2010 5:29pm
Quoting PipChick
A good trade that I do is a long off the right shoulder so I do not need a NL break. I trade it to the NL or however many pips I can get. A separate trade would be a close above the NL and a pull back to it for an entry.
okay

here's one forming on the m5 dx. neckline still intact tho, so it isn't valid yet. I'll be looking to buy eurusd at the neckline break or sell at the close above the rejection (shooting star).
Attached Image (click to enlarge)
Click to Enlarge Name: dx5a.gif Size: 188 KB
Thank You
  • #341,471
  • Dec 7, 2010 5:30pm Dec 7, 2010 5:30pm
Quoting gatorinla
careful
if it come back to a few pips below my entry, I will exit.
  • #341,472
  • Dec 7, 2010 5:33pm Dec 7, 2010 5:33pm
Quoting wormboy
okay

here's one forming on the m5 dx. neckline still intact tho, so it isn't valid yet. I'll be looking to buy eurusd at the neckline break or sell at the close above the rejection (shooting star).
Right once the NL breaks you are in a full fledge HS trade. But another hs play is a buy/sell off of an established right shoulder. That will give you a small R:R trade because if the price violates the right shoulder, you know you are wrong within a few pips. So your loss is very small.
  • #341,473
  • Dec 7, 2010 5:36pm Dec 7, 2010 5:36pm
i cant wait to get back to diving.
Inserted Video
those who can, do. those who cant, talk about those who can
  • #341,474
  • Dec 7, 2010 5:37pm Dec 7, 2010 5:37pm
Quoting PipChick
if it come back to a few pips below my entry, I will exit.


I should have waited patiently for this setup...


grrr oh well perhaps Asians will take some more Viagra tonight
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB
Know when to hold em, Know when to fold em!
  • #341,475
  • Dec 7, 2010 5:37pm Dec 7, 2010 5:37pm
It seems to be a better chance to buy low for 1,3480 as final target.
COT: The precious data ignored
  • #341,476
  • Dec 7, 2010 5:41pm Dec 7, 2010 5:41pm
Quoting kuroro001
It seems to be a better chance to buy low for 1,3480 as final target.
not according to usdx. and now eu. but r/r would be great.
those who can, do. those who cant, talk about those who can
  • #341,477
  • Dec 7, 2010 5:42pm Dec 7, 2010 5:42pm
The Asian market seems so quiet that I can hear a pin drop, it needs more than Viagra .

Quoting goods
I should have waited patiently for this setup...


grrr oh well perhaps Asians will take some more Viagra tonight
  • #341,478
  • Dec 7, 2010 5:46pm Dec 7, 2010 5:46pm
Quoting PipChick
Right once the NL breaks you are in a full fledge HS trade. But another hs play is a buy/sell off of an established right shoulder. That will give you a small R:R trade because if the price violates the right shoulder, you know you are wrong within a few pips. So your loss is very small.
If you're trading before the neckline break that'll mean you're just buying/selling off the supp/res level in anticipation that the pattern might form.
It's just like people trying to sell the double top which is still not tradeable on the current H4. The H4 double top is only valid at the neckline break.

There shouldn't be any anticipation in pattern trading imo, only confirmation.

Good luck.
Thank You
  • #341,479
  • Dec 7, 2010 5:47pm Dec 7, 2010 5:47pm
3254,, bump
those who can, do. those who cant, talk about those who can
  • #341,480
  • Dec 7, 2010 5:48pm Dec 7, 2010 5:48pm
Quoting wormboy
If you're trading before the neckline break that'll mean you're just buying/selling off the supp/res level in anticipation that the pattern might form.
It's just like people trying to sell the double top which is still not tradeable on the current H4. The H4 double top is only valid at the neckline break.
Buying off the right shoulder which is support.Its actually an h4 pullback or dip from the last bull run. Thats how I look at it anyways.
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