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  • #356,121
  • Jan 2, 2011 5:09pm Jan 2, 2011 5:09pm
Quoting mercy seat
http://cdn.forexfactory.com/images/attach/png.gif 2010-12-31_16h30_EURUSD _ x-Daily _ 000.PNG (32.7 KB)


From market positioning ... we could see lower again ... but in case that 1.3454/ 69 and even 1.3484 has been crossed (which is possible) ... then bears might feel very uncomfortable for a while ...

In case of upside re-test might be limited only up to 1.3435 - 1.3442 or maximum 1.3467 ... one more corrective...

EUR/USD : Outlook


From market positioning ... we could see lower again ... but in case that 1.3454/ 69 and even 1.3484 has been crossed (which is possible) ... then bears might feel very uncomfortable for a while ...

In case of upside re-test might be limited only up to 1.3435 - 1.3442 or maximum 1.3467 ... one more corrective move towards 1.3360 - 1.3341/ 33 or even to below 1.3322 / 1.3305 is possible in case of an extention ...

Lowest been taken has been 1.3328 ...

Highest been given has been 1.3388 ...

until now ....

So nothing has changed ... from our side of view ...


;-)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #356,122
  • Jan 2, 2011 5:10pm Jan 2, 2011 5:10pm
Quoting mikej2010
yes there was
Don't make me go all Cloggie on you.

If it makes you feel any better, MT4 'gaps' are usually filled too.

We need a facepalm smiley.

Anyway, good luck for the week to you.
  • #356,123
  • Jan 2, 2011 5:10pm Jan 2, 2011 5:10pm
Quoting tonyo524
Hey Mike, I have that as my 38% fib. My fibs are drawn from 2008's top of 1.6 to 2010's bottom of 1.18

I do see the 3 points of resistance on your chart though!
I like the 50% on the FIB fan also ... providing good resistance for the most part...

fib's from summer 08' to summer 10'

2cd pic zoomed in a little
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  • #356,124
  • Jan 2, 2011 5:12pm Jan 2, 2011 5:12pm
Quoting ukdaytrader
Don't make me go all Cloggie on you.

If it makes you feel any better, MT4 'gaps' are usually filled too.

We need a facepalm smiley.

Anyway, good luck for the week to you.
by MT4 you mean the respected Broker? and it's never good to assume that a gap will be filled.
Attached Image
  • #356,125
  • Jan 2, 2011 5:15pm Jan 2, 2011 5:15pm
It's rather ironic most say they're here to learn, yet refuse to change thinking when confronted with the obvious.

What one perceives as a 'gap' strictly comes down to what their borker's closing time was on Friday and their opening time on Sunday night.

In eastern standard time, some close Fridays at 3pm, many at 4pm and some at 5pm. The 5pm time is considered the formal close of the fx market. The Sunday open I believe varies with 6pm being the latest borker open with 5pm fairly common, while 1pm is the 'formal' open time.

So, if you're with "Bobs House of MT4 we-borker-4-you" which closes at 3pm Friday and reopens Sunday at 6pm, your MT4 charts will display a 'gap' - but do recognize that the real world has seen trading, and, your borker just doesn't give a rat's ass about you, so they partake in games. Throw in huge spreads they distort (ie., 10 pips & onwards, MT4 purposeful bar fill ins for prices that never existed) and it's a cornucopia of BS stacked against you.

Why anyone would be with anything other than a top tier broker is beyond me, but be aware that a gap in your world is living in denial, and out of step with the real world you pretend to be playing, partaking and trading in. That's dangerous. The fact that price retests and retraces will often work in your favour, but please apply the right terminology.
  • #356,126
  • Jan 2, 2011 5:17pm Jan 2, 2011 5:17pm
You're wasting your ink Bel.
  • #356,127
  • Jan 2, 2011 5:18pm Jan 2, 2011 5:18pm
Quoting akhtergroup
Most of you will hate me for saying this; but brace yourself for a 1.2690 print on EU.
Hi Akhtergroup,good call last week,is this weeks call based on a look at the order book by your mates?
You can remain irrational longer than you can remain solvent.
  • #356,128
  • Jan 2, 2011 5:21pm Jan 2, 2011 5:21pm
Quoting Driver55
Do yourself a favor ....
Don't go short ...
we are directed at least @3421
Hi all,
If we touch 3326 , I'll go flat
The best thing that can happen to you is to find out where you're wrong.
  • #356,129
  • Jan 2, 2011 5:25pm Jan 2, 2011 5:25pm
Quoting dag777
(not meaning the typo, the name was so funny)
NP - the typo was purposeful!
  • #356,130
  • Jan 2, 2011 5:26pm Jan 2, 2011 5:26pm
Quoting rattyo
Take no notice. These people are being argumentative. They are probably long and don't like the fact that its drifting down.
lol thin u are short
  • #356,131
  • Jan 2, 2011 5:31pm Jan 2, 2011 5:31pm
guys eur did hit 13319 on xe somebody was trading it , most brokers open @ 12or 10GMt some open befor
  • #356,132
  • Jan 2, 2011 5:32pm Jan 2, 2011 5:32pm
I think: Candlesticks 4 letters ... looks like this . Good luck
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  • #356,133
  • Jan 2, 2011 5:32pm Jan 2, 2011 5:32pm
Quoting Beljevina
NP - the typo was purposeful!
ok, then
from now i will call the small bucket shopīs "Bobīs Borker House(s)"
  • #356,134
  • Jan 2, 2011 5:35pm Jan 2, 2011 5:35pm
Quoting akhtergroup
Most of you will hate me for saying this; but brace yourself for a 1.2690 print on EU.
Do I have time to go to Home Depot and buy good bracing materials? Can I do that when I get back from Mexico at the end of the month? Seriously, a little time frame reference woud be helpful. I know you must be right though, with access to the order book and all....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #356,135
  • Jan 2, 2011 5:37pm Jan 2, 2011 5:37pm
Yes. There are gaps in Forex too. However, there are only very few real technical gaps in forex (i.e check the surprisingly FED decision after Friday closed a few trimesters ago or the nearest EU key gaps (2), especially the emergency meeting in Brussels on Sunday before last panic sell off).

The other "gaps", as some of the previous poster well explained are based on your broker data and they are most of time wrong.

I mentioned many times before, if you are in doubt check for futures where there is only one and only one open/close/high/low, there you can check real important gaps. Just my 2 cents.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #356,136
  • Jan 2, 2011 5:37pm Jan 2, 2011 5:37pm
Hello everyone,maybe i should introduce myself,i'm sure when i post the first thing people do is look to see how long i've been a member and such.
But the fact is that i've been a guest reader here for 8 years,if you don't believe me then you can find my name on other forums,although i've never posted anywhere much,it shows how many years as a member.
I've been in this game nearly 10 years now,but not always fx.
In that time i've seen all sorts of things,good traders blowing up accounts, average traders turning into really good traders,and the steady flow of scam merchants.
Good luck everyone for the new year.
Now i need to go and pay my respects to some dead threads that helped me along the way.
You can remain irrational longer than you can remain solvent.
  • #356,137
  • Jan 2, 2011 5:43pm Jan 2, 2011 5:43pm
Quoting mercy seat
EUR/USD : Outlook


From market positioning ... we could see lower again ... but in case that 1.3454/ 69 and even 1.3484 has been crossed (which is possible) ... then bears might feel very uncomfortable for a while ...

In case of upside re-test might be limited only up to 1.3435 - 1.3442 or maximum 1.3467 ... one more corrective move towards 1.3360 - 1.3341/ 33 or even to below 1.3322 / 1.3305 is possible in case of an extention ...

Lowest been taken has been 1.3328 ...

Highest been given has been 1.3388...


EUR/USD : Outlook


From market positioning ... we could see lower again ... but in case that 1.3454/ 69 and even 1.3484 has been crossed (which is possible) ... then bears might feel very uncomfortable for a while ...

In case of upside re-test might be limited only up to 1.3435 - 1.3442 or maximum 1.3467 ... one more corrective move towards 1.3360 - 1.3341/ 33 or even to below 1.3322 / 1.3305 is possible in case of an extention ...

Lowest been taken has been 1.3328 ...

Highest been given has been 1.3388 ...

until now ....

So nothing has changed ... from our side of view ...


Otherwise :


As long as market might hold above 1.3311 - 1.3293 zone or at least 1.3275 limit ... we could see one more upside attempts towards the mentioned areas of resistances ...

1.3395 - 1.3405 at first .... maybe 1.3435 - 1.3442 later then ...

Und so weiter und so fort ... etcetera pp ...

So from market rythm wise we are obviously this way :

market rythm ... first down ... then up ...


;-)
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #356,138
  • Jan 2, 2011 5:44pm Jan 2, 2011 5:44pm
Quoting Beljevina
It's rather ironic most say they're here to learn, yet refuse to change thinking when confronted with the obvious.
prices that never existed.
Quoting ukdaytrader
You're wasting your ink Bel.
okay guys', for education and curiosity purposes, I just called & spoke with my broker.

Basically the reason for the 'gap' {and they said there is one} is because the 'interbank' market {not a centralized exchange but the communication platform /trading platform between banks, etc} is closed on the weekends and is open 5-5.5 days a week.

Interbank trading begins in 'wellington New Zealand and ends in the New York Market.

There is a floating rate over the weekend due to commerce, news, etc. but with Forex Trading through the Interbank, that is 100% closed on the weekends.

Now you can make respective trades with banks {airports, open brokers, etc} on the weekend, but that isn't based off of the Forex Interbank market.

So the gap is basically the close of the Interbank market to the open of it, where individual price gaps are shown are within a broker opening and closing hours of operation. Some banks close before others so they don't show opening/closing interbank rates but the 'live rates' ...
Attached Images
  • #356,139
  • Jan 2, 2011 5:49pm Jan 2, 2011 5:49pm
After the push up on Friday to hit the 1.34 strike,which i completely forgot about , there needs to be some backing and filling,when thats done we should have a better idea where we go next.
Do i know where?
Not got a clue,YET.
You can remain irrational longer than you can remain solvent.
  • #356,140
  • Jan 2, 2011 5:51pm Jan 2, 2011 5:51pm
Neckline held first tests. Back up and then at it again?

[IMG]Eurusd 15 min[/IMG]
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