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EURUSD

  • #353,581
  • Dec 29, 2010 5:12am Dec 29, 2010 5:12am
Quoting PipChick
The question is...does this EU want to take out 3160? hmmmm
buy cheap, sell hard, that is my theory.
  • #353,582
  • Dec 29, 2010 5:13am Dec 29, 2010 5:13am
A m15 close above the tl then the answer is prolly yes but another attempt to close below 3114 or the last spike down then the answer is no.lol
Attached Image
  • #353,583
  • Dec 29, 2010 5:14am Dec 29, 2010 5:14am
and i would long.

green pips

Quoting primzvicious
how bout this? buy or sell?
dreams do come true.
  • #353,584
  • Dec 29, 2010 5:14am Dec 29, 2010 5:14am
Quoting PayTheLimit
what is that a 15min?
Yes, that is a 15 minute PTL
  • #353,585
  • Dec 29, 2010 5:14am Dec 29, 2010 5:14am
Quoting PayTheLimit
what is that a 15min?
it is 'clear' on 15, 30 & 1h

this is 1h
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  • #353,586
  • Dec 29, 2010 5:14am Dec 29, 2010 5:14am
Quoting mikej2010
buy cheap, sell hard, that is my theory.
sell tops, buy bottoms, scalp between both of it...
Verily, in every difficulties there is relief
  • #353,587
  • Dec 29, 2010 5:16am Dec 29, 2010 5:16am
Quoting wannaberich
and i would long.

green pips
good luck
Verily, in every difficulties there is relief
  • #353,588
  • Dec 29, 2010 5:17am Dec 29, 2010 5:17am
Quoting primzvicious
sell tops, buy bottoms, scalp between both of it...
'buy cheap, sell hard ..'

I was just commenting what I think Asian Banks & exporters are doing.

It is cheap to drive the market up in this thin market. Then double-down on selling.

After the 'players' return, I don't see a fundamental or technical reason to NOT go to 1.25xx after the 1.29xx barrier.
  • #353,589
  • Dec 29, 2010 5:18am Dec 29, 2010 5:18am
Quoting mikej2010
it is 'clear' on 15, 30 & 1h

this is 1h
OK well I dont trade patterns, so let me ask you this. I was under the impression that the H&S pattern is a reversal pattern. What trend are we reversing, I mean the trend is down as it is.
Look Sharp/Trade Tight
  • #353,590
  • Dec 29, 2010 5:18am Dec 29, 2010 5:18am
Quoting primzvicious
how bout this? buy or sell?

hedge!!! ;-)
  • #353,591
  • Dec 29, 2010 5:20am Dec 29, 2010 5:20am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting PayTheLimit
what is that a 15min?
Look at the one hour zoomed out, shows the exact same hns.
  • #353,592
  • Dec 29, 2010 5:22am Dec 29, 2010 5:22am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting PayTheLimit
OK well I dont trade patterns, so let me ask you this. I was under the impression that the H&S pattern is a reversal pattern. What trend are we reversing, I mean the trend is down as it is.
It is a reversal, the head is the former trend. It doesn't have to be a longterm reversal because it's a 1H HnS not a daily or weekly even.

Look back at when we hit 1.3500 recently, same HnS on 1H. Drop is equivalent to distance between neckline and head high.
  • #353,593
  • Dec 29, 2010 5:22am Dec 29, 2010 5:22am
there will be some fireworks on the downside
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  • #353,594
  • Dec 29, 2010 5:23am Dec 29, 2010 5:23am
Quoting PayTheLimit
OK well I dont trade patterns, so let me ask you this. I was under the impression that the H&S pattern is a reversal pattern. What trend are we reversing, I mean the trend is down as it is.
As I mentioned earlier also, I am not 'trend' savvy at all and don't trust it. But I am using this as a 'nail in the coffin' for my 'bear' bias towards the damn EURO

China has been SOLELY the only reason, IMO, that we are not at 1.25-1.29, and that may change very soon.

& you see that 'pink' little arrow, I would like to think it is accurate, on my scalping account I am up 5 pips because of it so far with, so I hope it is correct.

But to answer your question, I think in this situation ... it is an indication of a bearish move.

edit/added pic
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  • #353,595
  • Dec 29, 2010 5:25am Dec 29, 2010 5:25am
Quoting willo
hedge!!! ;-)
good answer
Verily, in every difficulties there is relief
  • #353,596
  • Dec 29, 2010 5:27am Dec 29, 2010 5:27am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Btw I'm on my iPad right now so I can't screenshot, but someone posted a weekly earlier, HUGE HnS , we are in the right shoulder right now. If it's correct we are heading to 1.1500 - 1.1900 by February - March.
  • #353,597
  • Dec 29, 2010 5:28am Dec 29, 2010 5:28am
Anyway I see it, I just dont see the importance of it in this area.
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Look Sharp/Trade Tight
  • #353,598
  • Dec 29, 2010 5:29am Dec 29, 2010 5:29am
H&S this is played at the neckline- at 80-90 level as i see it, this would be also a breakout in this case..

I don't trade this pattern haven't even noticed that someone does here- rarely.

Im leaving this alone for couple of hours so that it settles the direction..

Done two scalps today got couple of pips- priceless? hmm

Had one short from 32 did got stopped out for a pip and the second time i was long with the some result..

No pips for now.. Will get back in ny.
  • #353,599
  • Dec 29, 2010 5:29am Dec 29, 2010 5:29am
Quoting mikej2010
How awesome would this be if USD/JPY stays range bound for close of 4h!
*update* From a couple hours ago, Going 'long' for a scalp in USD/JPY might be good at 1200gmt for a few pips., tight SL

updated image

1h & 4h chart ...

went ahead and put 1 order in for long, 2cd buy order will trigger if it goes to 82.06, sl 81.96 {high from oct 27 on 4h chart}
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  • #353,600
  • Dec 29, 2010 5:31am Dec 29, 2010 5:31am
Quoting Ulterior
there will be some fireworks on the downside
i saw 2 TL on H4
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Verily, in every difficulties there is relief
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