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  • #386,701
  • Feb 14, 2011 5:31pm Feb 14, 2011 5:31pm
Quoting mercy seat
Good evening Archie,

I did observe that fib-fan as well today ... and did not like that drop below 61.8% area ... and we dropped a little bit below weekly sup-1 ... but not that significantly ... that a sudden rally should be in the cards soon ... corrective in nature at first ...

Question is where to start ideally ..



;-|
Would be unusual for Tokyo to take out the falling trendline for a retrace, I reckon either tight range tonight or possible drift south, reckon they could do a shakeout for stops first...

In any case will probably go to bed earlyish so as to be fresh for London open...
  • #386,702
  • Feb 14, 2011 5:39pm Feb 14, 2011 5:39pm
Quoting FibbinArchie
Would be unusual for Tokyo to take out the falling trendline for a retrace, I reckon either tight range tonight or possible drift south, reckon they could do a shakeout for stops first...

In any case will probably go to bed earlyish so as to be fresh for London open...
I think most traders at least in Oz are waiting for news in 1 hour. Or the shakeout to happen as you said.... However im waiting for RBA Reserve Bank Board's meeting in 1 hour...

Expected to be hawkish, . need some more volume...

Also some good news tonight gmt+10 for euro...
  • #386,703
  • Feb 14, 2011 5:39pm Feb 14, 2011 5:39pm
H4 and H1 view. 3506 turned into resistance.
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  • #386,704
  • Feb 14, 2011 5:43pm Feb 14, 2011 5:43pm
Quoting Larseg
I think most traders at least in Oz are waiting for news in 1 hour. Or the shakeout to happen as you said.... However im waiting for RBA Reserve Bank Board's meeting in 1 hour...

Expected to be hawkish, . need some more volume...

Also some good news tonight gmt+10 for euro...
For AU or EU, if the latter then what sort of impact would you anticipate?

I lost track of AU after it went above parity, which was some time ago now, been trading 100% EU...
  • #386,705
  • Feb 14, 2011 5:52pm Feb 14, 2011 5:52pm
Quoting meles
Thanks for the reply, but the MACD is an indicator of trend direction, but not divergence oscillator.
But most do not think so (
If you say so.........

I live by a simple no frills trade stile. A break above the down trend channel and I exit some. A double bottom (+ or - 10 or 12 pips) and I exit some. Yes I have read the MACD thingy, but it was years ago.

Sorry if I lead you astray......... I figured divergence was divergence. I'll go back to my seat in the back.
  • #386,706
  • Feb 14, 2011 5:57pm Feb 14, 2011 5:57pm
Quoting knuckledrag
If you say so.........

I live by a simple no frills trade stile. A break above the down trend channel and I exit some. A double bottom (+ or - 10 or 12 pips) and I exit some. Yes I have read the MACD thingy, but it was years ago.

Sorry if I lead you astray......... I figured divergence was divergence. I'll go back to my seat in the back.
They say the best systems are simple, generate a decent amount of entries and are applicable to any time frame...

Isn't MACD designed for momentum anyway? I do use it, but rarely and only for confirmation or a heads up...
  • #386,707
  • Feb 14, 2011 6:03pm Feb 14, 2011 6:03pm
Quoting Larseg
I think most traders at least in Oz are waiting for news in 1 hour. Or the shakeout to happen as you said.... However im waiting for RBA Reserve Bank Board's meeting in 1 hour...

Expected to be hawkish, . need some more volume...

Also some good news tonight gmt+10 for euro...
Ah yeah ZEW usually causes a decent reaction...
  • #386,708
  • Feb 14, 2011 6:03pm Feb 14, 2011 6:03pm
Anyone have any views if EURUSD can go up or upto 1.3550?
To Your Success!!
  • #386,709
  • Feb 14, 2011 6:06pm Feb 14, 2011 6:06pm
Can ya tell that I'm bored?

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  • #386,710
  • Feb 14, 2011 6:06pm Feb 14, 2011 6:06pm
Quoting FibbinArchie
They say the best systems are simple and applicable to any time frame...

Isn't MACD designed for momentum antway? I do use it, but rarely and only for confirmation or a heads up...
There's a couple ways to use it ( it shows divergence), but I quit using it early on. Fibs and pivots work better for me.

I really just thought I could help point a new guy in the direction of some education.
Well I wanted to use the "Sorry for my English, I'm from the United Stated" line too.
  • #386,711
  • Feb 14, 2011 6:09pm Feb 14, 2011 6:09pm
Quoting ndsouz
Anyone have any views if EURUSD can go up or upto 1.3550?
yeah, anything can happen...

In terms of probabilities, you have some reasonably stiff resistance to break at 350x first, plus the falling trend line is coming down around that area within the next hour or so...
  • #386,712
  • Feb 14, 2011 6:12pm Feb 14, 2011 6:12pm
Quoting knuckledrag
There's a couple ways to use it ( it shows divergence), but I quit using it early on. Fibs and pivots work better for me.

I really just thought I could help point a new guy in the direction of some education.
Well I wanted to use the "Sorry for my English, I'm from the United Stated" line too.
loose some cash from taking duff signals is probably the best way to learn...

What's up with your English?
  • #386,713
  • Feb 14, 2011 6:14pm Feb 14, 2011 6:14pm
r u talking about this trendline?
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  • #386,714
  • Feb 14, 2011 6:14pm Feb 14, 2011 6:14pm
Quoting FibbinArchie
loose some cash from taking duff signals is probably the best way to learn...

What's up with your English?

I'm not from the UK. You know we talk funny over here.
  • #386,715
  • Feb 14, 2011 6:16pm Feb 14, 2011 6:16pm
I am estimating a EU retrace to the areas of 3550 to 3590 over the next 48 hours. I believe we will see a 2nd test of the 3450 area and a bounce up....if no bad news comes out

Of course, I could be completely wrong but I have my alerts set for those two levels to short
  • #386,716
  • Feb 14, 2011 6:18pm Feb 14, 2011 6:18pm
Quoting DBallerz
r u talking about this trendline?
No this one...
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  • #386,717
  • Feb 14, 2011 6:20pm Feb 14, 2011 6:20pm
Quoting knuckledrag
I'm not from the UK. You know we talk funny over here.
Same difference...
  • #386,718
  • Feb 14, 2011 6:23pm Feb 14, 2011 6:23pm
My short EUR/USD aren't really going anywhere...
I guess i'll find an entry for a long positions...

+ 7.6% since sunday
  • #386,719
  • Feb 14, 2011 6:24pm Feb 14, 2011 6:24pm
Quoting aarontdang
My short EUR/USD aren't really going anywhere...
I guess i'll find an entry for a long positions...

+ 7.6% since sunday
In-case you didn't notice, nothing is going no where.
  • #386,720
  • Feb 14, 2011 6:24pm Feb 14, 2011 6:24pm
Quoting ndsouz
Anyone have any views if EURUSD can go up or upto 1.3550?
After AB=CD pattern completion today at around 1.3385 price will rebound with room up to 1.3620 which is also the 2nd wave/correction with this current wave CD from 1.3740 being wave 1 of the downtrend, and the next wave after correction i.e. wave 3 from around 1.3600 should be the longest and strongest wave of the decline, and also a quick one to accelerate the decline.
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