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Price is everything

  • #15,841
  • Apr 14, 2011 4:25am Apr 14, 2011 4:25am
Hi guys,
{I'm looking at GU atm. I see a pennant forming on M5 and I have a major res at 1.6425-1.646. PEnnant would tend to indicate continuation North, possibly to test R. Oly i am already at R2 daily pivot and tails of candlesticks on M15 suggest a move downward.
Are we at consolidation or possibly exhaustion of supply? Any help welcome
Thanks
sorry no chart as slow internet
  • #15,842
  • Apr 14, 2011 4:28am Apr 14, 2011 4:28am
UCAD

watching supply above
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  • #15,843
  • Apr 14, 2011 4:50am Apr 14, 2011 4:50am
Attached Image (click to enlarge)
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awaiting buy



candle momentum does suggest a momentum change within the context of this tf - will still buy if prices give entry
  • #15,844
  • Apr 14, 2011 5:10am Apr 14, 2011 5:10am
Emene's diagonal had been a good support. If it is breached..it is a pocket of clean air until 43xx
Attached Image (click to enlarge)
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  • #15,845
  • Apr 14, 2011 5:17am Apr 14, 2011 5:17am
last line of the defense.. lets see how big buyers here
Attached Image (click to enlarge)
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  • #15,846
  • Apr 14, 2011 5:17am Apr 14, 2011 5:17am
Red

As price has whizzed through that zone on the M15 will you be looking at the zone marked on the hour chart or is momentum too great?

(Just learning)

ETA - Kenny beat me to it!
Attached Image
  • #15,847
  • Apr 14, 2011 5:20am Apr 14, 2011 5:20am
Bought off TL rejection.

But I'm sick, and doing everything wrong
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  • #15,848
  • Apr 14, 2011 5:22am Apr 14, 2011 5:22am
Quoting Delite
Red

As price has whizzed through that zone on the M15 will you be looking at the zone marked on the hour chart or is momentum too great?

(Just learning)

ETA - Kenny beat me to it!

yes, will buy PA dependant, but because that cluster now above current price has been taken south ...... it may be NEW S TUNRED R NOW


the spike highlighted in my eu chart post - gave an indication that cluster although its a demand cluster had been SPIKED - INOTHERWORD, WAS CONSUMED BY FIRST RALLY
  • #15,849
  • Apr 14, 2011 5:28am Apr 14, 2011 5:28am
Quoting Ifmyante
Bought off TL rejection.

But I'm sick, and doing everything wrong
Out with 2 pips
  • #15,850
  • Apr 14, 2011 5:34am Apr 14, 2011 5:34am
the blue line is the last line of defence. I am flat now. watching PA here

will wait for a reversal sign. A bullish harami or piercing bull.
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  • #15,851
  • Apr 14, 2011 5:34am Apr 14, 2011 5:34am
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BEEN WAITING FOR THIS REACTION FOR DAYS


this zone can be a trend changing zone, very clean and crisp - first test
  • #15,852
  • Apr 14, 2011 5:45am Apr 14, 2011 5:45am
At the bottom of demand zone
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  • #15,853
  • Apr 14, 2011 5:50am Apr 14, 2011 5:50am
Quoting Ifmyante
At the bottom of demand zone
Aha!

2 Day Pinbar
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  • #15,854
  • Apr 14, 2011 6:03am Apr 14, 2011 6:03am
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 95 KB




this zone is a good indicator - IF IT GETS RE TAKEN NORTH .......


when trends are changing - caps like this should hold to drive prices south, might get a clusterfcuk range for a bit
  • #15,855
  • Apr 14, 2011 6:10am Apr 14, 2011 6:10am
Let's hope I did something right today
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  • #15,856
  • Edited 6:31am Apr 14, 2011 6:14am | Edited 6:31am
EJ.

Damn risky. SL manual

(out all for a quick 20)
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  • #15,857
  • Apr 14, 2011 6:15am Apr 14, 2011 6:15am
Quoting redsword11
Attachment



this zone is a good indicator - IF IT GETS RE TAKEN NORTH .......


when trends are changing - caps like this should hold to drive prices south, might get a clusterfcuk range for a bit
can we say that: the steeper the approach to a s/r-zone is, the more likely is that this zone breaks?
meine augen sind die sterne
  • #15,858
  • Apr 14, 2011 6:28am Apr 14, 2011 6:28am
careful with shorts. it's going up a bit. e/u i mean..
  • #15,859
  • Apr 14, 2011 6:43am Apr 14, 2011 6:43am
Quoting aserbfx
can we say that: the steeper the approach to a s/r-zone is, the more likely is that this zone breaks?
The principle, as I see it, is that as a move gathers a little momentum, the consistent losers jump on board and build even more momentum, and then the serious losers get in way too late and push price right into where it has already been decided that the asset is too cheap or too expensive.

The smart money is waiting for them there, and the smart money that started the move are taking profits and reversing.

The steeper the approach, the greater the bounce.

No zone, however, is impregnable, except, perhaps, zero.
  • #15,860
  • Apr 14, 2011 6:51am Apr 14, 2011 6:51am
Hi guys

Needless to say I followed my thoughts and shorted this. closed at 1.63 and shorted again at 1.632.
Anybody looking at gu now?




Quoting BrunargarFx
Hi guys,
I'm looking at GU atm. I see a pennant forming on M5 and I have a major res at 1.6425-1.646. PEnnant would tend to indicate continuation North, possibly to test R. Oly i am already at R2 daily pivot and tails of candlesticks on M15 suggest a move downward.
Are we at consolidation or possibly exhaustion of supply? Any help welcome
Thanks
sorry no chart as slow internet
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