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EURUSD

  • #373,381
  • Jan 26, 2011 2:29pm Jan 26, 2011 2:29pm
This is a steady push up, you say you see no force, look on the daily 14 candles up one down candle, why is that not force??
  • #373,382
  • Jan 26, 2011 2:30pm Jan 26, 2011 2:30pm
Quoting Pinero
but that is one of my rule...and keeps the money in the acc...
i wait for my turn..
but waiting is a horrible thing ... but my fingers keep still until i see what gets me into a trade...
but it would be nice if it comes soon
Hi Pinero... same here :-) It get's even worse when price consolidates like this, sepecially for us daily chart trades. Seems like such a waste when price is right where it was yesterday. But, these consolidation periods show the changing of positions by the big boys. Slowly letting out their longs and building shorts.
  • #373,383
  • Jan 26, 2011 2:50pm Jan 26, 2011 2:50pm
Quoting Mike Haran
This is a steady push up, you say you see no force, look on the daily 14 candles up one down candle, why is that not force??
I wouldn't look only at the daily. There has been a loss of 'force', though I'd name it more as momentum. Notice the first week the rally started, then the second week, and now this week so far. The weekly ranges are decreasing. Where we are now, we've literally been ranging since monday. Previous weeks have a clearly defined bullish trend.

The week is not over, can't say anything is crystal clear in forex but there is growing reason to believe a retrace (not even a full reversal) is coming. If not, well we'll know in a day or two because otherwise this week is a range. Traders next week will notice and adjust.
  • #373,384
  • Jan 26, 2011 3:00pm Jan 26, 2011 3:00pm
Gentlemen,

Trading forex is similar to sing a song of which we do not know the words.
Although there is -and I am expecting- a retracement in the air please take into consideration couple of things:

1. Retracement is always difficult to forecast. As tarantula says, better reaction rather then prediction. Currently we might be heading to the 0.618 or 0.786 fibonacci retracement. The 0.786 fibonacci retracement (at around 1.4) also coincides with the 0.618% fibo extension of the last long weekly 1-2-3. and with a big weekly down-trendline.

2. Volumes... analysis of the COT highlights a drop in the dollars boughts http://timingcharts.com/sites/defaul...0a7be1cbc5.png this might be due to risk appetite but usually is not the best sign for bears.

Good luck to all!
  • #373,385
  • Jan 26, 2011 3:05pm Jan 26, 2011 3:05pm
Quoting Martingale
Gentlemen,

Trading forex is similar to sing a song of which we do not know the words.
Although there is -and I am expecting- a retracement in the air please take into consideration couple of things:

1. Retracement is always difficult to forecast. As tarantula says, better reaction rather then prediction. Currently we might be heading to the 0.618 or 0.786 fibonacci retracement. The 0.786 fibonacci retracement (at around 1.4) also coincides with the 0.618% fibo extension of the last long weekly 1-2-3. and with a big weekly down-trendline.

2....
fair enough, but I very much doubt that it will cruise straight through the 61.8 without so much as a bounce...
  • #373,386
  • Jan 26, 2011 3:07pm Jan 26, 2011 3:07pm
Quoting kill56
rollover 13710
  • #373,387
  • Jan 26, 2011 3:08pm Jan 26, 2011 3:08pm
if anyone plays the 7 strategy. tomorrow may be your day
those who can, do. those who cant, talk about those who can
  • #373,388
  • Jan 26, 2011 3:08pm Jan 26, 2011 3:08pm
Quoting Martingale
Gentlemen,

Trading forex is similar to sing a song of which we do not know the words.
Although there is -and I am expecting- a retracement in the air please take into consideration couple of things:

1. Retracement is always difficult to forecast. As tarantula says, better reaction rather then prediction. Currently we might be heading to the 0.618 or 0.786 fibonacci retracement. The 0.786 fibonacci retracement (at around 1.4) also coincides with the 0.618% fibo extension of the last long weekly 1-2-3. and with a big weekly down-trendline.

2....
2 weeks old?
those who can, do. those who cant, talk about those who can
  • #373,389
  • Jan 26, 2011 3:10pm Jan 26, 2011 3:10pm
Quoting gatorinla
if anyone plays the 7 strategy. tomorrow may be your day
The 7 Strategy? never heard of it, any reading I can do on this?

**EDIT: Did a quick search, do you mean the Simple 7 Strat?
  • #373,390
  • Jan 26, 2011 3:11pm Jan 26, 2011 3:11pm
Quoting OldQuant
So, if nothing "new" intervenes to change your view, would you then flatten out your long at that point, or simply go "on alert" at that level?
locking in my profits gradually i trade the h4 and i have to see the closes. atm it doesnt show me any signs to short yet. at that level i will short..maybe a major retrace there...time will just tell me what to do
  • #373,391
  • Jan 26, 2011 3:13pm Jan 26, 2011 3:13pm
good night guys.
Hero calls followed by margin calls...
  • #373,392
  • Jan 26, 2011 3:14pm Jan 26, 2011 3:14pm
Quoting PhAnTi'
good night guys.
have a good one, hear from you tomorrow
  • #373,393
  • Jan 26, 2011 3:14pm Jan 26, 2011 3:14pm
back to 2683/84- before hour ends.. or usdx will be bearish for the day close. usdx 77.8 +-.. might be a cash saver,
those who can, do. those who cant, talk about those who can
  • #373,394
  • Edited 3:43pm Jan 26, 2011 3:16pm | Edited 3:43pm
Quoting soul786
The 7 Strategy? never heard of it, any reading I can do on this?

**EDIT: Did a quick search, do you mean the Simple 7 Strat?
dont know google it.. 7 candles in a row is kinda rare.. 8 is just that more rare. a green close tomorrow would be 8
those who can, do. those who cant, talk about those who can
  • #373,395
  • Jan 26, 2011 3:18pm Jan 26, 2011 3:18pm
haha if that was the strategy I wouldn't even bother. 7 candles lines up won't mean the 8th will fall.

A thread here on the forums involved using a 50MA and 7MA. It seems like a crossover method which I've never favored so I'll skip over it and stick with PA.
  • #373,396
  • Jan 26, 2011 3:18pm Jan 26, 2011 3:18pm
m5
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  • #373,397
  • Jan 26, 2011 3:22pm Jan 26, 2011 3:22pm
Quoting mercy seat
QUICK TIP (für hartgesottene)


2011-01-25 _ 23h15 CET _ GBP-USD : CLOSING (Tuesday)





GBP-USD : 1.58155 (rollover)





(-01) Trend + Potential (neutralized) looking for corrective action - after bearish engulfing

0.0266Écart

1.6018 Elliott EX-Reversal Point

1.5729 Elliott Projection (resistance zone 1.5917/52 for further wave down 1.5729 or extension down to 1.5685)



pivots + spezi



0.0266Écart

1.62381.6140
1.61281.6044
1.60181.5943
1.59721.5898


1.58621.5885...

OKAY ... POUNDER ...


Overall we are content with this day ...

Total result of today has been 1.8235% at the end of the day ...

We did take some trades manually ... after 20h15 news release ...

And as expected our beloved CABLE did see the upside correction to above our minimum target of 1.5917 ...

It is important to calculate as precise as possible and to have a realistic imagination of levels that may come ... and no dream price levels from pony farms to wait for ... that never might come ... or only might come in a few days ...

But time is money as well ...

And in the time between we can trade with others pairs setups ... while some of us wait days and weeks for things to happen ... that do not work out ...

Or report some fairy tales from some no name option expiries that will not move the market at all ...

Did you ever been a grantor of options ?

You can write some ... if you like ...



;-|
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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #373,398
  • Jan 26, 2011 3:24pm Jan 26, 2011 3:24pm
7 candle set up, isn't that something to do with Tom DeMark...
  • #373,399
  • Jan 26, 2011 3:24pm Jan 26, 2011 3:24pm
Quoting gatorinla
2 weeks old?
4 days old! Cot report are updated weekly (friday) the date u see is part if the axis
  • #373,400
  • Jan 26, 2011 3:26pm Jan 26, 2011 3:26pm
Quoting soul786
haha if that was the strategy I wouldn't even bother. 7 candles lines up won't mean the 8th will fall.

A thread here on the forums involved using a 50MA and 7MA. It seems like a crossover method which I've never favored so I'll skip over it and stick with PA.
go find 7 daily like candles in your chart...


then look for a entry (use smaller candles)... you dont blindly enter. then consider r.r on 7/8 days at 23.6% or more.
those who can, do. those who cant, talk about those who can
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