EURUSD

im agree with u raza.eu still in bullish mode as long 1.32518(fib61.8) hold.but as for now i will looking buying opportunity at 1.34843(fib38.2) also act resistance become support.but drop will limited above fib 61.8.my option is buy at fib 38.2 or fib 61.8 if possible.we may see 1.43 or above.2 cents...

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Hello DR.Geppynius,

thank you for clarification. Well appreciated.

I think that it is really too early to jump with both feed to the sell side. It hangs there at important fib, resistance and various channel lines.

Odds, out of my sight (EW pattern, sentiment data) favor the down side. But who knows. I expect small movement up with a max. retrace of 50%, but I think more about 38% max. If my EW count is right, we are at the start of a 3 of a 3 of a 3 which would lead to high downward pressure and therefore limited retracements.

Best to you, nice Sunday,

Markus

could please clarify the possible 1k pip rally with some charts?

would aprreciate your effort

kindest reg.
PhanTi

its a MIB...

Eshansh,

Just a few thoughts about your post.

Everyone is looking for the 'right' decision to make - and people often ask for advice in the absence of their own knowledge and experience. This leaves you powerless. Putting the power of your decision in someone else's hands leaves you powerless. Knowledge and experience are the only two keys to taking your power. You have not got experience as a newcomer, but you can build your knowledge and then apply it to get experience.

There are so many people on threads like this who are 'one trick ponies' (not pointing any fingers at anyone on this thread - honestly not at all) i.e. they have a single view of what should work and they do it to death. FCR trading is an example, it can be useful in the right conditions, but not for ALL conditions - mostly the great FCR (123 is where the pro's lure in the amateurs to milk them dry - without understanding trend, cycles and momentum amateurs are vulnerable when the pro's fake breakouts and false-reversals to get their money. Poorly understood and executed Elliot Wave analysis abounds on this site, unsophisticated support resistance theories badly communicated and inadequately understood, experimental ideas, multiple basket trading strategies that will clean you out in a day - great stuff - a truly democratic free for all which adds grist to the mill and it's worth trying out some stuff ONCE YOU UNDERSTAND THE BASICS and are able to make some choices for yourself . There are people who are selling expensive courses - and they are variable in quality - usually from useless to the rare - very very rare - gem. Any of any worth will first tell you that this is a risky business, and the professionals make money by taking it off the inexperienced amateurs - people like you - you feed the beast with your hard earned money, and they strategise at every turn to lure you in so they can take it off you. WHere there is pain in the markets someone is making money - pain is profitable - hard world but I'm afraid it's true. That is what finances their trading.
This is not easy money - it is hard, psychological and emotional work. The knowledge is out there in all sorts of forms. People move markets by their buying and sellign behaviour - yes, in response to news, economics, fundamentals, their time of the month, desperation and whether or not thier mother loved them enough (to name but a few) - but it is mass group psychology at work. Those who win at this are a cut above the masses in their abilities to read signs that exist in the deeper structures of the markets and what they mean in suggesting the probabilities for movements one way or another in price action. They want the masses to behave the ways they do, so they can lure them, the amateurs/inexperienced/losers, into trades then trip out their stop losses by taking the price the other way, whipsaw their postions and leave them penniless - or hopefully just enough to come and feed the beast again another day. There will always be more people coming in to fill the gaps when your money has run dry. If you want answers then go and spend time GETTING SOME KNOWLEDGE. There is a book first published in 1986 by John J Murphy which all would-be and experienced traders would do well to read and understand bit by bit - it is called 'TECHNICAL ANALYSIS OF THE FUTURES MARKETS a comprehensive guide to trading methods and applications'. You can get it second hand and quite cheaply - but that book will teach you everything there is to know about technical analysis. Without it you are spitting in the wind - and above all BEWARE ANYONE ON THIS THREAD OR OTHERWISE WHO CLAIMS TO HAVE IT SUSSED OUT - you can never learn it all and there is always more to learn. That belief alone is an over-confident killer - to put your trading decisions in the hands of anybody you have never met who simply claims to be 'successful' is not the mark of an independent and successful trader in the making. I mean you no disrespect, or to any single contributor to this thread - there are some good people here and I respect them all. You can be successful, but that will emerge from your willingness to learn first an then apply what you learn - then learn yet again through your mistakes and successes. There are no secrets which you cannot gain access to in books - none of the great works are the many stand-out hyped get rich quick books - the real story is in the simple straight down the line, boring titles which you find onteh bookshelves of the jobbing traders. John Murphy is a really very very good one.

Good luck to you - go get powerful.

Nice chart, thanks for the Fib levels. Can see if this breaks below the 38.2%, then 50% then 61.8% and holds, then could be good for the start of a sell off and if above, may still be showing some strength to the upside so am going to watch this pair all next week to see what the trend is likely to be for the month...

Earlier there was a member who reported allegedly seeing waves throughout most of the charts he sees on the thread(just that he said it so mystical for me to even believe at first). Do not dismiss his theory at first sight I sometimes see waves, sometimes I see snakes, sometimes I see UFOs coming down on me(talk about hallucination at its best).
Elliot also saw waves. But I wonder if he made enough money by using them. I sometimes visit Pretcher's website when I'm bored but I get turned off by the idea that he sells 'signals'. If it works, why not make money by trading it
Heck, even the founder of technical analysis Sir Charles Dow (Jones) himself saw waves. So it is not easy for me to dismiss the theory of waves, although I take everything wit a pinch of salt and do not devote too much time into research I rather just trade what the market gives to me now.
Many things do work in forex. Many of them we don't even pay attention to them because we don't know how to use them correctly. Some of them are even outside the scope of TA and FA. The distinction is if you use it like everyone else or if you use in anticipation of how everyone else is going to use it. And that requires you to know yourself first.
Also, earlier during the week a member wrote extensively why he uses a journal. Although many might have ignored him due to his ego approach at things, I also would like to endorse the importance of having a journal.
Rather have one and post your sentiments and mood swings and trades on it, than posting on FF.com and have someone ask "are you sure about what you're doing"(raising many Qs and anxiety) or posting a call and have someone say " I am with you on this one" only for things to turn sour a couple of minutes later and then you feel bad for taking a bad trade and even worse for deceiving someone else.

BTW I like the candle analysis by some here. Sometimes Simplicity is the ultimate sophistication. Even the greatest of tools needs someone who will use them correctly(We all have it. It prints itself automatically every minute, hour, day. Yet we still can't profit from)

Oh and check this out. Same site that I commented about earlier, but now a different article on "How To Start Your Own 'Bucket Shop' using Boston Technologies" http://trading-gurus.com/start-your-...e-for-dummies/

Thursday : UK BoE Interest Rate Decision

any suggestions,ideas, know-how ?
who gonna trade it?
pending orders?



Ph.

hi fontu,

just a quick note to the second chart you posted. a textbook-like abandoned baby formation requires a gap on both sides

some TL drawn for the week ahead...will be interesting to see what happens monday -

BASED ON WAVE STRUCTURE ON 4 Hr and Daily.

Here is a daily chart..

Indicators are showing Over bought state..candlestick on DAILY suggesting down move.

But Harmonic waves saying UP... price from 1.5343 has shown an impulsive behaviour...(MOTIVE WAVE)

I could be very wrong.. first signal would be if it trades below Wave i( IN BLUE) . @ 1.5644

Second chart is from DEC-2010. WHICH HAS VIOLATED some pricepoints.

Still not confirmed. if above 1.6300 may give the Clue.

On the first chart notice how 2 FIBS coincides @1.7047...(lol) COINCIDENCE I GUESS.

I would also like to see what happens when it reaches 1.5974(FIB RESISTENCE)

A couple of nice bearish candles on the weekly. Last weeks bearish candle produced a very nice 5 waves down.

Weekly

http://chart.ly/s929op6
http://chart.ly/s929op6

A look at the 5 waves down on the 4 HR Chart.

Should be a good short in the 1.3700 area.

I am also keeping this in mind.

Compare the red area to the Image in word DOC.

ddarn i am in the wrong thread is this the caddy thread

thats all we can do.. it hasn't closed yet. and when it does there no guarantees. my bias will be with the side the week closes on. atm with est it is south.. the same way the last few days closed. im still gonna wait for the gmt next closes. if that is north i will still scalp until it breaks closing resistance and later breaks the wicks.

Salaam Kill.

Sorry , I could not explain without showing the style I trade with

Arright, No more..I 'll keep it to myself.

https://www.forexfactory.com/showthread.php?p=4375181
Raza, Much respect

salam bro its fine just teezing u guys hope all of us will have a green week good luck


heck no bro a lot here needs help keep it up we need u in here