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  • #354,721
  • Dec 30, 2010 8:31am Dec 30, 2010 8:31am
Quoting apt
Man, I have to say, I finally found a compliment to my hourly chart fib lines.

These fans work like a charm.

4H chart, close in the 1.3380 range only further proves Weekly and Monthly charts. And promotes a bullish pattern.

http://i52.tinypic.com/jipeag.png
make sure you add the 88.6, 23.6, 100, etc to get all fib lines.
  • #354,722
  • Dec 30, 2010 8:32am Dec 30, 2010 8:32am
Quoting apt
Man, I have to say, I finally found a compliment to my hourly chart fib lines.

These fans work like a charm.

4H chart, close in the 1.3380 range only further proves Weekly and Monthly charts. And promotes a bullish pattern.

http://i52.tinypic.com/jipeag.png
Be a bit careful with fans,yes they work until they don't,just like everything really.
You can remain irrational longer than you can remain solvent.
  • #354,723
  • Dec 30, 2010 8:33am Dec 30, 2010 8:33am
im holding my short tooo, 1.3125 my tp is 1.30725

also still holding my long is 1.3485 my tp is open am i mad ? i think hohohoho

VjjK from Turkey
  • #354,724
  • Dec 30, 2010 8:33am Dec 30, 2010 8:33am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting mikej2010
make sure you add the 88.6, 23.6, 100, etc to get all fib lines.
gotcha!
  • #354,725
  • Dec 30, 2010 8:34am Dec 30, 2010 8:34am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting jezek5
Be a bit careful with fans,yes they work until they don't,just like everything really.
Well ya, can't just blindly follow them.

I pretty much try to do Price Action and Patterns with Fibs as a good idea of S/R.

Patterns have been failing me miserably though, at least the traditional patterns.
  • #354,726
  • Dec 30, 2010 8:34am Dec 30, 2010 8:34am
Quoting jezek5
Be a bit careful with fans,yes they work until they don't,just like everything really.
fib fans are crap compared to good old horizontal fibs.
  • #354,727
  • Dec 30, 2010 8:35am Dec 30, 2010 8:35am
Now excluding news out which are coming in a while this 4hr 61.8% fib does not look very impressive to resist buyers as yet.

Some room there still to go.

Interesting to see if NY is short or long and see possible London fix at 4 pm.
They think they are smarter than I am.
  • #354,728
  • Dec 30, 2010 8:35am Dec 30, 2010 8:35am
Quoting jezek5
I thought it was forexpro30.

HDA and forexpro30 use the same grammar, the same syntax and spelling errors and they showed up the same time going on about the same silly trades and making the same silly errors and trade F ups, one does have to wonder.
  • #354,729
  • Dec 30, 2010 8:37am Dec 30, 2010 8:37am
H4 : channels
Attached Image (click to enlarge)
Click to Enlarge Name: buonvangvn_____yahoo____com.gif Size: 27 KB
  • #354,730
  • Dec 30, 2010 8:37am Dec 30, 2010 8:37am
Quoting cloggie
HDA and forexpro30 use the same grammar, the same syntax and spelling errors and they showed up the same time going on about the same silly trades and making the same silly errors and trade F ups, one does have to wonder.
Well, it surely has to be a coincidence.
  • #354,731
  • Dec 30, 2010 8:38am Dec 30, 2010 8:38am
Quoting apt
Well ya, can't just blindly follow them.

I pretty much try to do Price Action and Patterns with Fibs as a good idea of S/R.

Patterns have been failing me miserably though, at least the traditional patterns.
Sorry,what i mean is they can hold and hold so you start to trust them and get complacent with stop loss positions, next thing your knee deep in dog sh~t.
You can remain irrational longer than you can remain solvent.
  • #354,732
  • Dec 30, 2010 8:38am Dec 30, 2010 8:38am
Quoting buonvangvn
H4 : channels
Did you draw that channel yourself or is it automated?
  • #354,733
  • Dec 30, 2010 8:39am Dec 30, 2010 8:39am
Quoting wm-eu
well done
Quoting infinitus
Hi T@rantula,

very good work :-) Those pips are well earned.
Thank you guys

Quoting snatch
what was your reasoning for going long at that particular time?
thanx
anna
On that particular week I had some wins and loses. I couldnt identify INTRADAY trend as we were close to profit taking and holidays w/o major bank traders supporting the usual volatility. I decided to make a break with Intraday until app. 6th january and make a final daily trade.

I pulled up a technical elements on Daily and H4 timeframe.
Now...pull up your h4.We have a major trendline there and look at H4 closes.

Those h4 closes identify an exhaustion of a downtrend. My presumption was that EUR has undergone a correctional move and it really couldnt have gone much lower as the break of 2900 level would expose 27xx and we would have had a panic impulse moves including exiting long position ( automatic sell) and covering.

Central banks intervened keeping EU above psych level. China fundamentals went up in EUR favour. Technicals showed a fabulous defense of that particular trendline and looking at a daily u can notice an UPWARD outer trendline signaling long cue.

What do we do then? I personally never buy resistance and sell support.

I bought on a support. r:r ratio was also good. I consulted with Peters, he also confirmed longs and I was pretty convinced i was on a right track.
  • #354,734
  • Dec 30, 2010 8:40am Dec 30, 2010 8:40am
Quoting Wedaei
i see EU from current price 3296 will go down to 3150 and has possibole to visit 3323 or even 3348, but still targeting 3150
last time price was here on Dec. 17th it was rejected and fell,
a 23.6% Fib retrace would be around 324X area, price needs get
beyond 330X for further upward movement...lets see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: 12_30_10.gif Size: 20 KB
"Your Best trade is a loss with minimum risk"
  • #354,735
  • Dec 30, 2010 8:40am Dec 30, 2010 8:40am
  •  apt
  • | Joined Oct 2010 | Status: All your cookies are belong to me. | 1,114 Posts
Quoting fxvoilaaa
fib fans are crap compared to good old horizontal fibs.
Look at the charts I posted over the past 2 hours.

C'mon.

I'm not saying it's magic or anything, it's not. But in someway or another, it exemplifies to human psychology and mathematics in correlation.
  • #354,736
  • Dec 30, 2010 8:40am Dec 30, 2010 8:40am
Quoting fxvoilaaa
Did you draw that channel yourself or is it automated?
I hand painted
  • #354,737
  • Dec 30, 2010 8:41am Dec 30, 2010 8:41am
Yo Tarantula, not seen you in recent days. All good?
  • #354,738
  • Dec 30, 2010 8:42am Dec 30, 2010 8:42am
Quoting Forexbiz
last time price was here on Dec. 17th it was rejected and fell,
a 23.6% Fib retrace would be around 324X area, price needs get
beyond 330X for further upward movement...lets see what happens
December 17th 1 Hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: 12_30_10.f.gif Size: 24 KB
"Your Best trade is a loss with minimum risk"
  • #354,739
  • Dec 30, 2010 8:42am Dec 30, 2010 8:42am
Quoting buonvangvn
I hand painted
Wow, you should become an artist.
  • #354,740
  • Dec 30, 2010 8:43am Dec 30, 2010 8:43am
Quoting fxvoilaaa
Yo Tarantula, not seen you in recent days. All good?
Yep mate...Im on break from trading till 6th-7th january and I will be back. I also need a holiday :0 Thanks for asking.
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