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  • #403,281
  • Mar 9, 2011 6:08am Mar 9, 2011 6:08am
wow gu try to break the 50% fib
Verily, in every difficulties there is relief
  • #403,282
  • Mar 9, 2011 6:09am Mar 9, 2011 6:09am
Quoting T@rantula
It was also - sell EUR...London pre entry

Thats why i always say:

REACT dont PREDICT.

you right, although I'm much better at "anticipating"...


But man o man, commodities have had me scratching my head for the past few days.

The market is acting as if there aren't any stop-loss orders for buy positions. Purely unidirectional moves. up up up up

I guess everyone can be on the same side of the boat and make money.
  • #403,283
  • Mar 9, 2011 6:10am Mar 9, 2011 6:10am
if 41 holds here, looking for a test of 23...
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.gif Size: 16 KB
Look Sharp/Trade Tight
  • #403,284
  • Mar 9, 2011 6:11am Mar 9, 2011 6:11am
Interested area on AU............. Expecting good resistance out there.....
Yesterday High....... 61.8 FIb........ Daily R1, weekly Pivot and 200 SMA what more.........
Attached Image (click to enlarge)
Click to Enlarge Name: au123.gif Size: 36 KB
  • #403,285
  • Mar 9, 2011 6:12am Mar 9, 2011 6:12am
1.3938 is hard to be broken.
  • #403,286
  • Mar 9, 2011 6:13am Mar 9, 2011 6:13am
Quoting PayTheLimit
if 41 holds here, looking for a test of 23...

I have 26. I'll split the difference with you and make it 24.5
We're all stories in the end. Just try to make it a good one.
  • #403,287
  • Mar 9, 2011 6:13am Mar 9, 2011 6:13am
Nice PA, the last hour, after a boring Tuesday. I just cashed in at 3930, +50 pips is already more than I targeted.

I wonder if it's going to hit 4035 today, the previous high, based on market expectations regarding the ECB. I hope to jump in later today for another long after retracing to 3880-3900 levels, otherwise I'm done for the day.
  • #403,288
  • Mar 9, 2011 6:13am Mar 9, 2011 6:13am
Quoting PayTheLimit
doing a little buying here...paid 30ish
looking to buy more in the 20's....
Attached Image
Look Sharp/Trade Tight
  • #403,289
  • Mar 9, 2011 6:14am Mar 9, 2011 6:14am
Price Broke Below Uptrend Channel Yesterday.
Now it is simply retesting for the next drop....
Attached Image (click to enlarge)
Click to Enlarge Name: ff-eurretest.gif Size: 22 KB
  • #403,290
  • Mar 9, 2011 6:14am Mar 9, 2011 6:14am
German Industrial Production appears to have given the EUR/USD a boost this morning; interesting that expectations were for +1.8% and that's what they got AND the euro rallied. Sell off into the pre-release indicates doubt and fear among traders - little confidence in expectations.

It will be interesting to see if this little rally is capped at hourly resistance around 1.3950... if so, I think more downside is more likely. However, the clock is ticking on the US debt limit and traders must have that in the back of their mind. In the next couple weeks it has to come to the forefront and the headlines. The next debt limit increase will have to be somewhere in the $1.5 - 2 trillion zone, given current spending rates, and that is likely to weigh heavily on the dollar regardless of what is happening in euroland. The euro could see a nice little boost well into the 1.40's on that. ( I am short EUR/USD for the moment, but will probably cover and go long at 1.3950 ) Also long XAU/USD already.
  • #403,291
  • Mar 9, 2011 6:14am Mar 9, 2011 6:14am
Quoting macher
if U looking for long position go to usd/chf
After that last candle?

Also possible bear flag on daily

If it goes below 0.9200 SNB might have to intervene otherwise big fall i.m.o


.
Mind over matter..I don't mind and you don't matter.
  • #403,292
  • Mar 9, 2011 6:15am Mar 9, 2011 6:15am
Quoting mercy seat
Pivotal levels (based on INTERBANK RATES) and key-points for Wednesday ...

0.0126 Écart

1.4101 1.4047
1.4045 1.4001
1.3989 1.3954
1.3975 1.3937

1.3919 1.3925 <= central pp zone

1.3849 1.3898
1.3862 1.3877
1.3792 1.3833
1.3722 1.3804

And this four hour candle will see its closing/clôture in aprox. 15 minutes ...






;-|
Pivotal levels (based on INTERBANK RATES) and key-points for Wednesday ...



0.0126 Écart

1.4101 1.4047
1.4045 1.4001
1.3989 1.3954
1.3975 1.3937

1.3919 1.3925 <= central pp zone

1.3849 1.3898
1.3862 1.3877
1.3792 1.3833
1.3722 1.3804


Pivot Points for today

http://www.actionforex.com/markets/p...tmpl=component

You can use this LINK in addition to ... as it shows near term TF pivots as well ...

And this four hour candle did see its closing/clôture ... no reason to explain ...






;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-03-09_13h09_ EURUSD _ min240 _ (075) candle + PP + TL.PNG Size: 24 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #403,293
  • Mar 9, 2011 6:17am Mar 9, 2011 6:17am
Quoting Warwick
I guess everyone can be on the same side of the boat and make money.
Yes, thats why most trading systems dont work. Either you know how to trade or dont.

I think every disciple of trading, every Forex trader needs to know basic patterns, candlesticks and s/r levels, then move on to western indicators.

For myself a good combination of PA indicators ( eastern candlesticks and western MAs ) is crucial thing in trading.

You can add Camarillas, Murrey Math for levels but the core of trading remains the same.

Candlesticks are the very basics.
  • #403,294
  • Mar 9, 2011 6:19am Mar 9, 2011 6:19am
If this falls, expect about a 160 pip free fall..

Quoting myfxjournals
Price Broke Below Uptrend Channel Yesterday.
Now it is simply retesting for the next drop....
  • #403,295
  • Mar 9, 2011 6:20am Mar 9, 2011 6:20am
Quoting T@rantula
Yes, thats why most trading systems dont work. Either you know how to trade or dont.

I think every disciple of trading, every Forex trader needs to know basic patterns, candlesticks and s/r levels, then move on to western indicators.

For myself a good combination of PA indicators ( eastern candlesticks and western MAs ) is crucial thing in trading.

You can add Camarillas, Murrey Math for levels but the core of trading remains the same.

Candlesticks are the very basics.
they dont lag primary decision making tool..
  • #403,296
  • Mar 9, 2011 6:20am Mar 9, 2011 6:20am
Here we are 1.394...
Let see if it holds...

Quoting BrunargarFx
Closed at 1.3890.126 pips since yesterday.
Nice rejection of the resistance yesterday, which made me more confident about my bearish side (so I let my trade running).

Here is my thinking, please feel free to comment:
We are at S2 now. I don't expect any news to drive this much further down today. Even if the price does go lower, I'm happy with what I have and don't want to give back anything.

I will now wait for NY open. I would expect a possible bounce back up from the 50EMA (4H) at 1.3878, ideally to the next resistance (at 1.394X) where...
  • #403,297
  • Mar 9, 2011 6:22am Mar 9, 2011 6:22am
After 4 hours of hovering my finger over the buy button I finally cave in and it immediately goes down and hits my SL.

Why do I even bother...
  • #403,298
  • Mar 9, 2011 6:22am Mar 9, 2011 6:22am
Quoting Pipwanderer
they dont lag primary decision making tool..
No lag at all. Candlesticks are the best supply/demand indicator, but you need to apply it combined with proven western PA indicators.
  • #403,299
  • Mar 9, 2011 6:23am Mar 9, 2011 6:23am
Quoting FishHead
After 4 hours of hovering my finger over the buy button I finally cave in and it immediately goes down and hits my SL.

Why do I even bother...
Dont be sucked into buying w/o a proper setup first.

Wait for hourly close.
  • #403,300
  • Mar 9, 2011 6:23am Mar 9, 2011 6:23am
Quoting T@rantula
Yes, thats why most trading systems dont work. Either you know how to trade or dont.

I think every disciple of trading, every Forex trader needs to know basic patterns, candlesticks and s/r levels, then move on to western indicators.

For myself a good combination of PA indicators ( eastern candlesticks and western MAs ) is crucial thing in trading.

You can add Camarillas, Murrey Math for levels but the core of trading remains the same.

Candlesticks are the very basics.
I agree, keep it simple (just like me, lol)

Anybody know what's happened to forexlive today. I can't seem to open the site.

Hi T@, I'm back. Was so busy dealing with bad news through the mail this morning that I missed the recent moves. Going for a shower to try and rid myself of the headache - then I have to sort out some spreadsheet to send to my solicitor so guess this won't be much of a trading day. Did 2 yeaterday and both positive, so still smiling ...
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