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  • #721
  • Mar 21, 2011 5:51pm Mar 21, 2011 5:51pm
Quoting baz
Found It ..thanks

my eyes need testing
Welcome to the thread. Glad you founfd the dollar index on netdania.com. Netdania.com probably has the widest range of currencies.

I use http://www.dailyfx.com/charts/forexpowerchart/

for my charts on the net. It lets you save your workspace. so you save one strategy per workspace. Netdania.com doesnt let you do that but you get the dollar index and all the other wierd pairs

Again welcome to this thread...

Olu
If you think you can or cannot do it you are correct
  • #722
  • Mar 21, 2011 6:00pm Mar 21, 2011 6:00pm
Hi Olu..
thanks for the welcome... although this is a DAILY TF..i trade SWING LEVELs,BUT on HTF ( Daily/4Hr /8 hr ..etc )..

http://www.forexfactory.com/showpost...&postcount=713

http://www.forexfactory.com/showpost...&postcount=714

baz
  • #723
  • Mar 22, 2011 5:58am Mar 22, 2011 5:58am
I go into this day

 

  1. Short usdcad @9841
  2. Short May Sugar @27.35


Wishing you all loads of pips...

If you think you can or cannot do it you are correct
  • #724
  • Edited 7:00am Mar 22, 2011 6:57am | Edited 7:00am
Hey Olu

Check out the well formed head and shoulder with a target of 21.00! We have had the breakdown and hopefully we are having the retest of the neckline/breakdown point. We are having a nice little rally and bam that second to the last bearish candle. Hoping that we will continue down from here...

By the way other commodities I am looking at are

Cocoa (bearish)
Corn (bullish)
Soybeans (bullish)
Lean Hogs (bullish)
Live Cattle (bullish)

Most of the above commodities are going to or currently going up in a final ascent imho.

Funny I discovered that my alpari (uk) account allows me to trade crude, copper, corn, sugar, soybeans, gold, silver as a commodity cfd with tight(ish) spreads and margins less than the futures markets.

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: MaySugar-22032011-1130uk.JPG Size: 56 KB
If you think you can or cannot do it you are correct
  • #725
  • Mar 22, 2011 8:44am Mar 22, 2011 8:44am
Fundamental news about inflation in uk has been released today. The market has been in a holding pattern before this release. It turned out that inflation in the uk, as measured by CPI is on a tear like a runaway train (up to 4.4% from 4.0%)
This increases the likelihood of interest rate tightening (we are at 0.5%, at the moment). This should translate to strength in gbp. This is what we are exploring against the euro

On the weekly chart we have price dancing with the 100sma. Stochastics is overbought and turning down as well. On the daily we have an inside bar (indecision and waiting for the news release) and a breakout to the downside from the inside bar formation coupled with oversold stoch levels.

This is setting up a potential sell...
Attached Images
If you think you can or cannot do it you are correct
  • #726
  • Mar 22, 2011 9:01am Mar 22, 2011 9:01am
The trade described above is counter trend. I have uploaded another chart with my other favourite emas on it and price is above both emas and the emas have crossed up. That is my main trend indicator and chart.
The macd is losing steam to the upside and you just think a down cross is imminent and inevitable soon
Attached Image
If you think you can or cannot do it you are correct
  • #727
  • Mar 22, 2011 9:02am Mar 22, 2011 9:02am
Quoting Olu
I go into this day

 

  1. Short usdcad @9841
  2. Short May Sugar @27.35


Wishing you all loads of pips...

@8780 (+61pips)
If you think you can or cannot do it you are correct
  • #728
  • Mar 22, 2011 6:26pm Mar 22, 2011 6:26pm
Please find uploaded a daily chart of the eurchf. Before the intervention this currency was going down following a series of downtrend line breaks as shown on the charts. We have had a strong rally off the low. We broke down from a triangle and we have rallied up to test the lower boundaries of that triangle. Price has been repulsed br that triangle and it remains to be seen whether we will continue lower...
Attached Image
If you think you can or cannot do it you are correct
  • #729
  • Edited 7:52pm Mar 22, 2011 6:56pm | Edited 7:52pm
A weekly chart of the eurgbp is uploaded for your consideration. There was some comment about this pair about three post ago and all that comment still comes into play here.

We see on this chart that a dominant downtrend line exists and price has just recently nudged up to this line as is in the process of turning back. Price needs serious event to break out from the downtrend line. The last reversal from the trendline price went down loads.

Rudimentary elliott wave now. The last rally off the 8360 area to the current highs is in 3 waves. So we can now expect a 5 wave down move. If I am right this could be huge

A cautious sell might be in order here... just to test the resolve of the downtrend line
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-weekly-23032011-2344uk.jpg Size: 147 KB
If you think you can or cannot do it you are correct
  • #730
  • Mar 22, 2011 6:59pm Mar 22, 2011 6:59pm
Quoting Olu
A cautious sell might be in order here... just to test the resolve of the downtrend line
short @0.8673
If you think you can or cannot do it you are correct
  • #731
  • Mar 22, 2011 8:10pm Mar 22, 2011 8:10pm
The D1 on this pair looks to be inside a rising channel frame for the last 26 days. It is resting on the bottom rising trendline. I would like to see it break this S&R and form on the other side for a conservitive short. Sorry I don't know how to load a chart or I would post one. I trade the longer frames and enjoy your comments. Thank you
  • #732
  • Mar 23, 2011 7:38am Mar 23, 2011 7:38am
Quoting packtrain52
The D1 on this pair looks to be inside a rising channel frame for the last 26 days. It is resting on the bottom rising trendline. I would like to see it break this S&R and form on the other side for a conservitive short. Sorry I don't know how to load a chart or I would post one. I trade the longer frames and enjoy your comments. Thank you

Welcome Packtrain52 to the thread. As you trade longer timeframes your posts are welcome on this thread
If you think you can or cannot do it you are correct
  • #733
  • Mar 23, 2011 7:56am Mar 23, 2011 7:56am
Your analysis of this pair is good, price is resting on a D1 S&R level it has touched 8 previous times and moved the other way in the last 66 days. If it breaks this level to the down side it very well might end up at the 1.24301 level or maybe lower. I will short as well if the pair breaks through it's current resting spot and forms a bearish bar. keep up the good work
  • #734
  • Mar 23, 2011 8:11am Mar 23, 2011 8:11am
It appears the us$ is gaining some respite today. Pound, euro and aussie have come off today.

The stock market (Dow) has stalled at current levels as signified by the 2 dojis on the daily chart. Are we beginning a downdraft again?
If you think you can or cannot do it you are correct
  • #735
  • Mar 23, 2011 8:23am Mar 23, 2011 8:23am
My position in this commodity is below:

Short May Sugar @27.35

It is moving down nicely at the moment. If it breaks 2550 I will be looking to add to the position. It is very possible that we have already peaked for the year in this commodity and that from now on it will be bigger downtrends interspersed with minor uptrends and retracements. Only time will tell...
Attached Image
If you think you can or cannot do it you are correct
  • #736
  • Mar 23, 2011 3:18pm Mar 23, 2011 3:18pm
Quoting Olu
My position in this commodity is below:

Short May Sugar @27.35

It is moving down nicely at the moment. If it breaks 2550 I will be looking to add to the position. It is very possible that we have already peaked for the year in this commodity and that from now on it will be bigger downtrends interspersed with minor uptrends and retracements. Only time will tell...



  • #737
  • Mar 23, 2011 5:15pm Mar 23, 2011 5:15pm
I previously commented that this pair was in breakout mode. It hgas since then gone into congestion or possibly downright reversal back into the ending diagonal (if I can call it that). There is always a fear of intervention in the jpy pairs but if everything were normal this might be a counter trent short trade to target the other side of the triangle
Attached Image (click to enlarge)
Click to Enlarge Name: chfjy-daily-23032011-2200uk.jpg Size: 142 KB
If you think you can or cannot do it you are correct
  • #738
  • Mar 23, 2011 5:44pm Mar 23, 2011 5:44pm
Quoting golferfx
I want to try and hold this one...

Olu
If you think you can or cannot do it you are correct
  • #739
  • Mar 23, 2011 5:53pm Mar 23, 2011 5:53pm
A week ago it seemed this pair was going to the moon. However it has fallen back into the range it broke out of. It has now flagged a sell according to my system

Price has closed below the 100sma
Stoch has turned and is heading down

an initial target is the bottom of the channel
Attached Image
If you think you can or cannot do it you are correct
  • #740
  • Mar 23, 2011 8:55pm Mar 23, 2011 8:55pm
Quoting packtrain52
The D1 on this pair looks to be inside a rising channel frame for the last 26 days. It is resting on the bottom rising trendline. I would like to see it break this S&R and form on the other side for a conservitive short. Sorry I don't know how to load a chart or I would post one. I trade the longer frames and enjoy your comments. Thank you
Packtrain52,

I see the channell you are talking about. Price keeps on knocking on the bottom line though.Indeed a safer entry would have been a break of 0.8750
Attached Image
If you think you can or cannot do it you are correct
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