Attachments: EURUSD

EURUSD

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#420,681
Apr 12, 2011 6:59pm Apr 12, 2011 6:59pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting vox dei

Disliked

Yes, there's classic div formed around yesterday's high.....

Ignored

Ok so I guess you didn't see my post directly above yours so I'll ask you as well:

"Between price and ....?"

#420,682
Apr 12, 2011 7:00pm Apr 12, 2011 7:00pm

kenfen69
Joined May 2008 | Status: Voodoo Lotions & Potions | 26,565 Posts

Tokyo

#420,683
Apr 12, 2011 7:02pm Apr 12, 2011 7:02pm

vox dei
Joined Aug 2010 | Status: Chaos is a ladder | 1,268 Posts

Quoting SunTrader

Disliked

Ok so I guess you didn't see my post directly above yours so I'll ask you as well:

"Between price and ....?"

Ignored

any oscillator. i'm using cci and stochastics

"To hold, you must first open your hand. Let go." - Lao Tzu

#420,684
Apr 12, 2011 7:32pm Apr 12, 2011 7:32pm

thelws
| Joined Nov 2008 | Status: Trader | 2,055 Posts

Quoting vox dei

Disliked

any oscillator. i'm using cci and stochastics

Ignored

don't know what you are looking at... but i don't see any divergence using macd or stoc.

Its too early to say coz eu hasn't made a new high yet. although it does look like a divergence is forming, you gotta wait a bit more to see if it is actually true.

Definitely doesn't look like a divergence to me.

#420,685
Apr 12, 2011 7:35pm Apr 12, 2011 7:35pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting vox dei

Disliked

any oscillator. i'm using cci and stochastics

Ignored

The current H4 chart with stoch is a prime example of how useless divergence can be sometimes. Wavering around the overbought level for days on end diverging at times and not at others with very little reaction one way or the other.

#420,686
Apr 12, 2011 7:36pm Apr 12, 2011 7:36pm

SunTrader
Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts

Quoting thelws

Disliked

............. Definitely doesn't look like a divergence to me.

Ignored

Agree.

#420,687
Apr 12, 2011 7:38pm Apr 12, 2011 7:38pm

drumdude
| Joined Sep 2007 | Status: I Crack Codes | 313 Posts

Here is a UJ long that has good R:R...got in a bit late but will add on retrace.

Yellow: Buy Zone
Red: Stop
Green: TP 1/2

Attached Image (click to enlarge)

Click to Enlarge

Name: uj h1.gif
Size: 24 KB

#420,688
Apr 12, 2011 7:41pm Apr 12, 2011 7:41pm

Venice
Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts

Quoting SunTrader

Disliked

The current H4 chart with stoch is a prime example of how useless divergence can be sometimes. Wavering around the overbought level for days on end diverging at times and not at others with very little reaction one way or the other.

Ignored

Agree. If you must use some type of high/low or candle closed based indicator, use one that isn't bound by a high / low and forced into levels. (Not an oscillator).

With my best settings on a stoch, I could do pretty well, maybe 60-70% accuracy on a 4h chart.

Whats even better, waiting for price to come to supply zones or demand zones, then trading the stoch out of that area. That's where the money is.

#420,689
Apr 12, 2011 7:48pm Apr 12, 2011 7:48pm

hindustani
| Additional Username | Joined Aug 2010 | 1,745 Posts

Quoting Venice

Disliked

Agree. If you must use some type of high/low or candle closed based indicator, use one that isn't bound by a high / low and forced into levels. (Not an oscillator).

With my best settings on a stoch, I could do pretty well, maybe 60-70% accuracy on a 4h chart.

Whats even better, waiting for price to come to supply zones or demand zones, then trading the stoch out of that area. That's where the money is.

Ignored

weekly has indeed reached the top, consider rsi 8 ; 2010 high will be a decision factor here.

#420,690
Apr 12, 2011 7:52pm Apr 12, 2011 7:52pm

Venice
Joined Jul 2010 | Status: Weebley Wobbly Timey Wimey stuff | 10,604 Posts

Quoting hindustani

Disliked

weekly has indeed reached the top, consider rsi 8 ; 2010 high will be a decision factor here.

Ignored

I'd rather not consider the RSI 8, and let price tell me what it's going to do...

#420,691
Apr 12, 2011 7:53pm Apr 12, 2011 7:53pm

hindustani
| Additional Username | Joined Aug 2010 | 1,745 Posts

is this possible ? monthly chart

Attached Image (click to enlarge)

Click to Enlarge

Name: eurusd.gif
Size: 14 KB

#420,692
Apr 12, 2011 8:02pm Apr 12, 2011 8:02pm

gatorinla
Joined Oct 2008 | Status: sideline is a position | 105,124 Posts

Quoting hindustani

Disliked

Let the 10v+ idiots consider shorting, I am going Long here with target of 1.4560 to begin with, can update it to 1.4580 [ 2010 High ]

Ignored

is it meant for us all?

those who can, do. those who cant, talk about those who can

#420,693
Apr 12, 2011 8:06pm Apr 12, 2011 8:06pm

vox dei
Joined Aug 2010 | Status: Chaos is a ladder | 1,268 Posts

Quoting thelws

Disliked

don't know what you are looking at... but i don't see any divergence using macd or stoc.

Its too early to say coz eu hasn't made a new high yet. although it does look like a divergence is forming, you gotta wait a bit more to see if it is actually true.

Definitely doesn't look like a divergence to me.

Ignored

Quoting SunTrader

Disliked

The current H4 chart with stoch is a prime example of how useless divergence can be sometimes. Wavering around the overbought level for days on end diverging at times and not at others with very little reaction one way or the other.

Ignored

There it is. Regular divergence:

http://i237.photobucket.com/albums/f...urusd4hdiv.gif

Now, am I trading it? Hell no! It is countertrend.

And yes Suntrader, I agree with you OB/OS levels are basically worthless most of the time. Real market is rarely rangebound the way an oscillator would tipically display it.

"To hold, you must first open your hand. Let go." - Lao Tzu