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  • #435,421
  • May 4, 2011 1:39pm May 4, 2011 1:39pm
Quoting pipper
Thanks PC. That would be great. I check in everyday but with work at mo, i only get some days to trade which is a bummer. Have watched all your vids which are awesome and great help
Glad to help pippers. I think learning this will help you since you arent here a lot. You can actually trade the larger TF's the same way so you can make some pips while youre at work.
  • #435,422
  • May 4, 2011 1:40pm May 4, 2011 1:40pm
Darn H&S
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 232 KB
Disclaimer: Check your 1m charts
  • #435,423
  • May 4, 2011 1:41pm May 4, 2011 1:41pm
That would be ideal PC

Quoting PipChick
Glad to help pippers. I think learning this will help you since you arent here a lot. You can actually trade the larger TF's the same way so you can make some pips while youre at work.
Disclaimer: Check your 1m charts
  • #435,424
  • May 4, 2011 1:42pm May 4, 2011 1:42pm
Quoting kenfen69
Hi PC,

Sat out most of the day myself...preparing for a holiday...few long scalps a while ago to do something. Tried catching up on some of the "readings" here from the day...what a headache!

Don't go leaving for ever...you're one of the good'uns! I found your little hideout a while ago...have reg'd, but haven't been active yet. A few more days like this and I may hide with you, though! You posted some great charts today.

Chin up...glass of wine!

Attachment
It was a pretty good trading day The h4 chart is setting up very nicely. We may have some nice trades coming our way this eve if I can sneak away from the family for a bit.lol
  • #435,425
  • May 4, 2011 1:44pm May 4, 2011 1:44pm
Quoting pipper
Darn H&S
Maybe the m30 bullish Hidden Divergence will trump the that pippers.
  • #435,426
  • May 4, 2011 1:44pm May 4, 2011 1:44pm
Quoting PipChick
It was a pretty good trading day The h4 chart is setting up very nicely. We may have some nice trades coming our way this eve if I can sneak away from the family for a bit.lol
Yep...nice to see the range expand a little, too.
  • #435,427
  • May 4, 2011 1:45pm May 4, 2011 1:45pm
Quoting cobraforex
Does it hurt to write such a BS or are you already customed?
No BS. H&S patterns work better in equities than currencies. More often than not they will fail, but don't let me stop you from trying to trade them.
  • #435,428
  • May 4, 2011 1:46pm May 4, 2011 1:46pm
i think it might PC... i have a nice setup with 1min MAs and they haven't turned downward yet (DOW or EU)

Quoting PipChick
Maybe the m30 bullish Hidden Divergence will trump the that pippers.
Disclaimer: Check your 1m charts
  • #435,429
  • May 4, 2011 1:46pm May 4, 2011 1:46pm
Look Sharp/Trade Tight
  • #435,430
  • May 4, 2011 1:46pm May 4, 2011 1:46pm
The secrets of forex trading are hidden in the weekly timeframe and the simplest way to discover these secret is the zoom function on your platform.

Look at the two weekly charts below and see where the big boys are going. The direction is obvious and the target is in full glare. Take your direction on the weekly timeframe and drill down to the lower time frames to follow the ride.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: may - eurusd - week 1.gif Size: 12 KB
Click to Enlarge Name: may - eurusd - week 2.gif Size: 14 KB
  • #435,431
  • May 4, 2011 1:47pm May 4, 2011 1:47pm
Quoting erap

too high to go up, but not ready to go down ....

.
there's enough room to upside as to downside.

and the fundie triggers are likely to show the way in 2 days
  • #435,432
  • May 4, 2011 1:51pm May 4, 2011 1:51pm
About HS patterns...and I dont give a horses patoot what the freaking internet says. All I can is what I have witnessed for yrs. Anyways, about the HS patterns... "USUALLY" when we are in a strong uptrend and a smaller TF chart such as the m30 to the m5 develops a HS to the downside, they usually do not complete and you get faked out..AKA LOSE PIPS. But...USUALLY when we are in a strong uptrend (as we are seeing with the EU) and price forms an invers HS, it is usually good for some nice pips and completes. Now.... lets say right now the eu daily decides to form a HS over the next few weeks, then there is a very good chance the trend will change as that HS that forms at the TOP OF A TREND plays out. Something has to end the trend doesnt it?
  • #435,433
  • May 4, 2011 1:56pm May 4, 2011 1:56pm
Quoting Gleneagles
Ally,

I did not trade the late NY session but have marked the beats again..some easy 12 pippers again?
sure was eagle eye! i got in 6 x 12 for 72 pips today. my last trade took me down -10 for a daily total of ............... drum roll .... 62

my best day in forever and not giving any more back so i am on the side. got these lines on also and just studying pa at these areas and cloggies this afternoon. i am working up my game plan for tomorrow and updating my trading log also. should be interesting to see where the daily close will be and hoping the asian session may offer some trades also. that session has been pretty good lately too. i did set my alarm for the London open but pushed the snooze and went back to sleep. just not a good time for me but if i can get this many pips in the hours i do trade, no worries.

good pippin to you and make lots of 12ers on London
  • #435,434
  • May 4, 2011 1:59pm May 4, 2011 1:59pm
Quoting PipChick
About HS patterns...and I dont give a horses patoot what the freaking internet says. All I can is what I have witnessed for yrs. Anyways, about the HS patterns... "USUALLY" when we are in a strong uptrend and a smaller TF chart such as the m30 to the m5 develops a HS to the downside, they usually do not complete and you get faked out..AKA LOSE PIPS. But...USUALLY when we are in a strong uptrend (as we are seeing with the EU) and price forms an invers HS, it is usually good for some nice pips and completes. Now.... lets say right now the eu daily...
I don't know what the obsession with them is... Right shoulder makes complete sense as well... when you see that lower high swing put into place... then the original demand level broken (new lower low)... yes, that usually dictates at least a temporary change in trend.

But that is how I view it... rather just see it that way as a viewpoint from price then a Yeti pattern.

http://1.bp.blogspot.com/_soq4jdgKhj...600-R/yeti.jpg
  • #435,435
  • May 4, 2011 1:59pm May 4, 2011 1:59pm
Quoting PayTheLimit
i know that grin PTL ... cocktails are served
  • #435,436
  • May 4, 2011 2:00pm May 4, 2011 2:00pm
For instance ...yesterday I posted several charts of the m15. So many in fact that I got sick of seeing them myself. But to expand more on t=the HS patterns...the h1 had traded the range for days..some people just push buy every time it hits the bottom, taking the chance that it will go right thru the bottom, but some people like myself, waited for a smaller tf to form a inverse head and shoulder pattern near the bottom of the range. That allow for extra confirmation. So the pattern took the pair back to the top. But...I was trading the inverse with the trend. Its a lot more risky to trade a HS the opposite of the trend. Im not saying it cant work and doesnt work at all but I am saying its a bad habit unless its at the top of a larger tf trend.
  • #435,437
  • May 4, 2011 2:01pm May 4, 2011 2:01pm
Quoting AllyB
i know that grin PTL ... cocktails are served
Indeed..., glad to see you killed today...nice...
Look Sharp/Trade Tight
  • #435,438
  • May 4, 2011 2:01pm May 4, 2011 2:01pm
Quoting AllyB
i know that grin PTL ... cocktails are served


Cheers!
  • #435,439
  • May 4, 2011 2:02pm May 4, 2011 2:02pm
Good evening traders. I closed my shorts from 1.4910, I'm flat at the mo with my ahort term trades. Here are soma levels and paths - handmade:
Attached Image
  • #435,440
  • May 4, 2011 2:03pm May 4, 2011 2:03pm
Quoting Venice
I don't know what the obsession with them is... Right shoulder makes complete sense as well... when you see that lower high swing put into place... then the original demand level broken (new lower low)... yes, that usually dictates at least a temporary change in trend.

But that is how I view it... rather just see it that way as a viewpoint from price then a Yeti pattern.

http://1.bp.blogspot.com/_soq4jdgKhj...600-R/yeti.jpg
I look at HS that are formed opposite of the trend to just give me the indication that we may have a retracement and that I should wait to press the buy button. I dont like to trade them against the trend.
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