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  • #396,741
  • Feb 26, 2011 8:11am Feb 26, 2011 8:11am
Quoting andelumut

all the risks borne by passengers
how true lol how did you know about my driving record
have a good weekend all
  • #396,742
  • Feb 26, 2011 8:23am Feb 26, 2011 8:23am
dont count count your chickens before they are shitting on your porch.


I am really laughing at this statment, Yes you have to think different
  • #396,743
  • Feb 26, 2011 8:26am Feb 26, 2011 8:26am
From the technical view point, the move from Friday looks like a rejection from an important resistance level. This makes me think that perhaps on early Monday we might see a continuation of the profit taking and more weakness for EURUSD.

Still, I see that most of the forecasters still anticipate EURUSD strength for the coming week. Also the CTFC report published late Friday shows that speculators are still very bullish on the euro.

Anyway, next week all eyes will be on Ben Bernanke's testimony before Congress and on the NFP to be announced on Friday. While the first event could be negative for the stock market and positive for USD (if there are hints that the Congress is opposed to more easing), the second one could generate some weakness for stocks and for USD also (if the unemployment rate will not continue to diminish as it did during the last couple of months).

From the technical point of view I have in mind the following levels of resistance and support for the Monday session:

1.4022 monthly R1
1.3934 my own calculated volatility band
1.3861 the high from Febr. 2nd
1.3522 the low from Febr. 22nd
1.3447 monthly pivot point
1.3422 the low from Febr. 14th
  • #396,744
  • Feb 26, 2011 8:28am Feb 26, 2011 8:28am
Quoting harigp
dont count count your chickens before they are shitting on your porch.


I am really laughing at this statment, Yes you have to think different
how about quoting?
Hero calls followed by margin calls...
  • #396,745
  • Feb 26, 2011 8:35am Feb 26, 2011 8:35am
Quoting gatorinla
lets c what tues gmt open says. (Monday close) #396767
dont count count your chickens before they are shitting on your porch.


Hi Gator,

I will go with the bull move at this time.

The recent move down looks at the first sight on higher TF's like 4h or 1h impulsive, but the lower TF's reveal its intention: it is corrective.

Look at 15 or better 30min TF, there you can easily see, that it can not be counted as an impulse. Key section is the last swing from 3786 to 3724. Look at 15min TF. The third wave would be the shortest (albeit by 2 pips).
Devasting for the bullish case looks this section on the 5min TF. Out of my sight a clear zigzag.

I have meaningful fib clusters around 3886 to 3916.

I have a Gann SQ9 target of 3896 on daily (360°). I have a Gann grid target of 3918.

Murrey math trading line +2/8 on daily chart @ 3916

This level can max exceeded to 3946, otherwise we are open to a new octave.

Downsloping trendline (1.51x, 1.42x) at between 399x and 398x for the next 2-3 days.

At 4033 the zigzag legs wave C of the upmove from 28x is 0.618x wave A
  • #396,746
  • Feb 26, 2011 8:51am Feb 26, 2011 8:51am
gordonfx,

Tks for link. Have it loaded & will watch it next week. Good trades to you.
  • #396,747
  • Feb 26, 2011 8:52am Feb 26, 2011 8:52am
Quoting gordonfx
how true lol how did you know about my driving record
have a good weekend all
happy weekend too gordon,,
only an analysis, and I'm always wrong, don't follow me,
  • #396,748
  • Feb 26, 2011 9:07am Feb 26, 2011 9:07am
Quoting infinitus
Hi Traders,

would like to show the actual Elliott Wave count on Gold:

With Gold lagging Silver, Gold should make a new high in the coming days.

Ideal targets fib-wise 1445, 1529 or 1547, Murrey Math-wise 1437, 1453, 1500 or 1562.


Over the last weeks it got clear, that the top was not in, because on weekly chart one was not able to count an impulse down.

And it made no sense to me at all, why Gold should be the first asset to start a big drop.
good count , well done , things may change anyway , up & down at top areas & more up beyound expectation followed by huge down . lets see .

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #396,749
  • Feb 26, 2011 9:27am Feb 26, 2011 9:27am
Quoting gordonfx
hi everyone,

most of you probably know about this, if so just consider it a friendly reminder. There is an inverted H&S on the daily(also known as inverted 3 Buddas. My experience is that the larger patterns may or may not come thru and this one may fall into the "TO BIG TO NOT FAIL" catagory. However, it does have it's pro's but i'll let you decide without my input.

The pattern maybe a little hard to to see because of the rounded head and shoulders on my screen, hence 3 Buddas according to Nison. I hd to adjust my screen to get it to...
Its not hard to see.Its not there. A H&S is formed at tops and bottoms, not in the middle of a move. What your looking at is a range. Like all ranges it indicates market uncertainty. The only thing to do is wait on a break, or fade the highs and lows.

Attached Image (click to enlarge)
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  • #396,750
  • Feb 26, 2011 9:30am Feb 26, 2011 9:30am
Quoting knuckledrag
Its not hard to see.Its not there. A H&S is formed at tops and bottoms, not in the middle of a move. What your looking at is a range. Like all ranges it indicates market uncertainty. The only thing to do is wait on a break, or fade the highs and lows.

Attachment
to say it otherwise:

a range box isnt s.th different than support and resistance levels....

ranges are always bounded with a support and a resistance line.....
Hero calls followed by margin calls...
  • #396,751
  • Feb 26, 2011 9:46am Feb 26, 2011 9:46am
Quoting PhAnTi'
to say it otherwise:

a range box isnt s.th different than support and resistance levels....

ranges are always bounded with a support and a resistance line.....

exactly.......


Trading range and range bound are often confused around here. I'm speaking of a trading range not a range bound market (although range bound could happen with another trip south).

For now the range indicates the upper and lower demand points. Lower lows -lower highs off the upper range = sell. Higher highs - higher lows off the bottom range = buy. Break high or low = grab a pullback and go with it.
  • #396,752
  • Feb 26, 2011 9:55am Feb 26, 2011 9:55am
No we are choosing the interior of our jet for the upcoming world tour

Quoting Magix
Right you were Piters my man...I was asleep at the wheel..but as luck would have it, would seem that I will still get a chance to still set my trades and take a little relax with a cold beer and a couple of casts...

The M15 and the M30 have been the support levels for market for the last couple of days respectively, meaning one thing, after a tap on the hourly, we should be clear to complete the blast off and complete the full range of play...should be a nice week up and coming, I am sure Malcolm and the Mallerinas are [b]already picking out the...
Blogging daily now at www.volume.zone
  • #396,753
  • Feb 26, 2011 9:58am Feb 26, 2011 9:58am
careful on being to biased to the downside

weekly range missed by 10 pips only , we had a low volume down day to test 13750 support. IF that breaks in a london or us session ONLY then we can say chart is bearish. why not asian session ...well we all saw what asia was used for Monday last week.....hope newbies learnt something from that

Quoting sam69
hammer on monthly and weekly,bearish engulfing candle on daily=DOWN next week
Blogging daily now at www.volume.zone
  • #396,754
  • Feb 26, 2011 10:00am Feb 26, 2011 10:00am
really .... come on ...

Learn how to trade. PM me i can give you a great few pointers to get you started and this is not being sarcastic. I can give you the map but you have to do the work

Quoting geniusztc
http://www.fxstreet.com/technical/fo...2011/02/25/03/

believable？？？
Blogging daily now at www.volume.zone
  • #396,755
  • Feb 26, 2011 10:08am Feb 26, 2011 10:08am
Trading every week is easy

I am running out of things to spend my billions on ....maybe i should buy everyone in ff a R8 next week.

On a serious note , with patience and a basic understanding of how markets works you can pull and easy 250 pip out of eu every week , as Magix has helped me to show in this thread. All you have to do is forget indies , understand basic price action and how markets work. ANY LARGE MOVE IN ASIA IS SUSPICIOUS AND SHOULD BE TREATED AS SUCH . There was a time GJ moved 600 pip in asia..... UP i was adding to sell every 150 pip. I was overjoyed the higher it went. I was posting this in the thread and everyone though I was nuts , the 1st entry made 1500 pip the last 2000 , end of that asian session marked market top for the next few months

here is the 12 hour eu chart ... been bull mode since jan 1 and not done yet IMHO

whenever you see a 2bar reversal in any time frame it is very bullish or bearish depending on reversal up of lows or down off highs , when i saw the 2 bar reversal Monday this week was an easy 200 pip week in eu. i know many made that trading one session 10 pip at a time and 200 pip is NOTHING.

Attachment






Quoting hutrader
Trading this week was sooo easy.
Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #396,756
  • Feb 26, 2011 10:14am Feb 26, 2011 10:14am
Phanti you are in MJs room ....note my oil call friday . Odd how oil charts show a strong buy and all of a sudden militia blow up a refinery .. I guess you can call cia Militia these days

Quoting PhAnTi'
hmmm this might decrease the supply of oil = price gettin higher....anyway lets c....

will have a lot of fights and struggles in the near east comin weeks.

Phanti.
Blogging daily now at www.volume.zone
  • #396,757
  • Feb 26, 2011 10:24am Feb 26, 2011 10:24am
Quoting malcolmb14
careful on being to biased to the downside

weekly range missed by 10 pips only , we had a low volume down day to test 13750 support. IF that breaks in a london or us session ONLY then we can say chart is bearish. why not asian session ...well we all saw what asia was used for Monday last week.....hope newbies learnt something from that
Thank you for your posts. Can you expand on what you meant by 'we saw what asia was used for last Monday'
Thank you
  • #396,758
  • Feb 26, 2011 10:24am Feb 26, 2011 10:24am
pretty messy in this zone and we did see last week closing off highs BUT we still saw a weekly close above prior week ( 1.3710) .. this area has been tested twice during the week and both time found buyers

I think 3680 is key for bears ( 3 day plus traders not scalpers) .

1.3830 resistance was hit to the pip and we saw a low vol down move friday.

so up coming week ... do we get three up bars on weekly and if so what is entry . 1.3710 to 1.3680 would be ideal with 1.4000 to 1.4100 as target

If 1.3680 has a daily close under it then this will have to be reconsidered

Attached Image (click to enlarge)
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  • #396,759
  • Feb 26, 2011 10:34am Feb 26, 2011 10:34am
so if you want to buy a car you will try and buy it at discount / on sale. Pros do the same in the markets always. The buyers will either step off the bid and let the market drop into a level that they think is discount. This is often done in low volume conditions such as asia

The other thing this will do is shake out all the longs and confuse the market.

here is the 60 min . The 1st blue line is start asia. the 2nd blue line start London. They have done this shake out style move in asia twice this week , both time meeting heavy buying at start London . Patterns like this appear over and over in the charts.

It is rare for the asian session to move 160 pip . It happens but it is rare. Those that day trade likely loved this move. But whenever you see this shake out style move , specially if it pokes thru a support level in asia always look for a buy opportunity ( or sell if market jets up)

Attached Image (click to enlarge)
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Quoting topedge
Thank you for your posts. Can you expand on what you meant by 'we saw what asia was used for last Monday'
Thank you
Blogging daily now at www.volume.zone
  • #396,760
  • Feb 26, 2011 10:40am Feb 26, 2011 10:40am
Thank you
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