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EURUSD

  • #358,141
  • Jan 4, 2011 3:25pm Jan 4, 2011 3:25pm
h4 looks really sexy
Attached Image (click to enlarge)
Click to Enlarge Name: 4h eur.gif Size: 35 KB
  • #358,142
  • Jan 4, 2011 3:25pm Jan 4, 2011 3:25pm
so what some buyers coming in the market. i wonder what the hourly close would be about sydney open.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 15.gif Size: 18 KB
  • #358,143
  • Jan 4, 2011 3:27pm Jan 4, 2011 3:27pm
Quoting BrunargarFx
Hi,
Can you explain what you are referring to as volume, I thought that this would not be an available information given that forex is a decentralized market.
Thanks for answering anybody.
Can't speak for MG, but personally I use tick vol as a proxy variable for actual trade vol, it effectively shows the level of activity at various price levels and can be a very powerful analysis tool when combined with bar OHLC analysis, aka. Volume Spread Analysis...
  • #358,144
  • Jan 4, 2011 3:28pm Jan 4, 2011 3:28pm
Quoting PayTheLimit
paid 3299..+17..
Very good :-)

Now long @3300 SL 3294 TP 3328
  • #358,145
  • Edited 3:31pm Jan 4, 2011 3:28pm | Edited 3:31pm
We are headed to 1.322x zone!

Why? Because we have broken out of ascending triangle on H1. Last night I was almost sure, today i'm absolutely sure and have my money on it. Look on the chart:

Quote
Ascending Triangle
A formation in which the slope of price highs and lows come together at a point outlining the pattern of a Right Triangle. The hypotenuse in an Ascending Triangle should be sloping from lower to higher and from left to right. To trade this formation, place a buy order on a break up and out of the triangle or a sell order on a break down and out of the triangle. Ascending triangles, with a prior downtrend, are anticipated to break down and out, rather than up and out.

BTW, Daily trend is down....
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_1_4_11_h1.jpg Size: 227 KB
  • #358,146
  • Jan 4, 2011 3:32pm Jan 4, 2011 3:32pm
Quoting FibbinArchie
Can't speak for MG, but personally I use tick vol as a proxy variable for actual trade vol, it effectively shows the level of activity at various price levels and can be a very powerful analysis tool when combined with bar OHLC analysis, aka. Volume Spread Analysis...
Hi Fibbin,
Thanks for your response. I am not familiar with tick vol., what is it?
  • #358,147
  • Jan 4, 2011 3:34pm Jan 4, 2011 3:34pm
Quoting BrunargarFx
Hi,
Can you explain what you are referring to as volume, I thought that this would not be an available information given that forex is a decentralized market.
Thanks for answering anybody.
number of translations and size of transactions = volum.
  • #358,148
  • Jan 4, 2011 3:36pm Jan 4, 2011 3:36pm
Quoting pkimnyc
number of translations and size of transactions = volum.
Please keep in mind tick volume shows a representation of the amount of activity (number of transactions) that happened within a time frame. It does not represent the size of the transactions as it would within the equities market.
  • #358,149
  • Jan 4, 2011 3:38pm Jan 4, 2011 3:38pm
Quoting Venice
Please keep in mind tick volume shows a representation of the amount of activity (number of transactions) that happened within a time frame. It does not represent the size of the transactions as it would within the equities market.
Also, the volume you see in MT4 is only representative of your brokers number of transactions for a time frame, not absolute FX volume. Because of that, it is not as good of indicator at least for retail traders.
  • #358,150
  • Jan 4, 2011 3:39pm Jan 4, 2011 3:39pm
Quoting pkimnyc
number of translations and size of transactions = volum.
ah ok, I understand better now, thanks a mil'
  • #358,151
  • Jan 4, 2011 3:39pm Jan 4, 2011 3:39pm
Quoting Venice
Please keep in mind tick volume shows a representation of the amount of activity (number of transactions) that happened within a time frame. It does not represent the size of the transactions as it would within the equities market.
I'm glad that you brought this up.
I never understood what tick volume meant.
Can you tell me what it is?
And how do I get that tick volume?
Thanks in advance.
  • #358,152
  • Jan 4, 2011 3:40pm Jan 4, 2011 3:40pm
Quoting skozyuk
Also, the volume you see in MT4 is only representative of your brokers number of transactions for a time frame, not absolute FX volume. Because of that, it is not as good of indicator at least for retail traders.
Thanks
  • #358,153
  • Jan 4, 2011 3:41pm Jan 4, 2011 3:41pm
Quoting BrunargarFx
ah ok, I understand better now, thanks a mil'
Np
  • #358,154
  • Jan 4, 2011 3:43pm Jan 4, 2011 3:43pm
Quoting BrunargarFx
Hi Fibbin,
Thanks for your response. I am not familiar with tick vol., what is it?
The number of price movements in a given time period, eg. 1 minute, since it takes trade activity to actually move price, it can be used to gauge the level of activity.

It's not as good as actual trade vol that you get in stocks or futures, but it's all we have in spot FX, some people don't believe it is of value, personally I swear by it and find it difficult to trade without it.

Notice on the attached chart where the vol spikes coincide with the reversals, it's no holy grail, but it's great for confirmation...
Attached Image (click to enlarge)
Click to Enlarge Name: Vol spikes.jpg Size: 361 KB
  • #358,155
  • Jan 4, 2011 3:45pm Jan 4, 2011 3:45pm
hi
my stop hit in +5
  • #358,156
  • Jan 4, 2011 3:48pm Jan 4, 2011 3:48pm
PS. for students of VSA, we are only interested in knowing when there is weight behind a price movement, ie. when Smart Professional Money or Big Money has entered the arena.

For this we only need to know when there are increases in trade activity. We do not need to know the precise volume of contracts being traded.
  • #358,157
  • Edited 4:16pm Jan 4, 2011 3:51pm | Edited 4:16pm
Here is another reason I'm bearish on H1. We have formed double top "M" reversal formation.

Quote
For obvious reasons this is often called an "M-top". The market is failing twice at a resistance and is reversing then sharply. A break of the support would indicate further losses towards the target that can be evaluated through the following procedure. The vertical width of the "M" (price difference) is projected downwards from the breakpoint of the support.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_1_4_11_h1_2.jpg Size: 227 KB
  • #358,158
  • Jan 4, 2011 4:12pm Jan 4, 2011 4:12pm
Quoting syahzam
Your trading system is awesome, last week alone i double my demo acct. That's something i never achieve in my trading acct.


Working on a little revised version, check back over the next couple weeks for when I release the Magina!

And, don't be chalking it up to any trade system, it may make things easier to see, but you are still the one hitting the buttons.

Keep on keepin on Brother!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #358,159
  • Jan 4, 2011 4:19pm Jan 4, 2011 4:19pm
Quoting Magix


Working on a little revised version, check back over the next couple weeks for when I release the Magina!

And, don't be chalking it up to any trade system, it may make things easier to see, but you are still the one hitting the buttons.

Keep on keepin on Brother!
hey wise man

dont tell me u did miss today's action
  • #358,160
  • Jan 4, 2011 4:22pm Jan 4, 2011 4:22pm
Quoting kill56
hey wise man

dont tell me u did miss today's action
Yessir killer, missed the whole gawrsh darned thing.

I got some family in town, going to be away from markets until next week, pretty much my plan since mid December...

I caught a couple sheckles before hitting the airport yesterday, and did nice on a couple USDCAD longs...

Meh, the year has just begun kill, I gotta lotta time to catch up.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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