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Price is everything

  • #17,541
  • May 5, 2011 3:53am May 5, 2011 3:53am
Yes, I love the R:R too, but considering how difficult it was for the Cable to pass the DP yesterday (and today so far), not sure. not playing this pair atm

Quoting Orbital
Love the perspective on that chart GO bulls!

heres what i see:
Attachment

But i have positions open at 6497 and 6530 with heavy sizes, waiting this one out expecting the bullrun unless this forms a double top, with 2 hours left on that 4hr chart we will have to see...
  • #17,542
  • May 5, 2011 3:58am May 5, 2011 3:58am
HI Red,

If I follow PA, and if it breaks south, we will not have reached the demand zone, hence there is potential for it to go deeper south (strong sellers), am I right?

I am looking at the H1, M15 and M5 charts, the pattern looks like a compression with wicks exhausting supply, wouldn't it show a potential break north instead? I'd like your feedback - not playing this pair, just want to understand why what you see is different from what I see and what am I missing.
Thanks




Quoting redsword11
Loony is about to break south


awaiting sell
  • #17,543
  • May 5, 2011 4:25am May 5, 2011 4:25am
Anybody considering longing AU ?
"The future is already written in the past"
  • #17,544
  • May 5, 2011 5:13am May 5, 2011 5:13am
Quoting brunargarfx
hi red,

if i follow pa, and if it breaks south, we will not have reached the demand zone, hence there is potential for it to go deeper south (strong sellers), am i right?

I am looking at the h1, m15 and m5 charts, the pattern looks like a compression with wicks exhausting supply, wouldn't it show a potential break north instead? I'd like your feedback - not playing this pair, just want to understand why what you see is different from what i see and what am i missing.
Thanks


its hit supply now 0.96300 area
  • #17,545
  • May 5, 2011 5:16am May 5, 2011 5:16am
SLV pa WATCH @ 37.85
  • #17,546
  • May 5, 2011 5:53am May 5, 2011 5:53am
gj at weekly support

buy 131.6
sl 100
Attached Image (click to enlarge)
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  • #17,547
  • May 5, 2011 6:17am May 5, 2011 6:17am
Quoting Myrza
gj at weekly support

buy 131.6
sl 100

looking good. wicks into demand
Attached Image (click to enlarge)
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  • #17,548
  • Edited 7:17am May 5, 2011 6:51am | Edited 7:17am
Quoting Myrza
looking good. wicks into demand
Yup....I watching this at the moment. This pair was my overnight trade which always feels good when it works out for 100 plus pips. I personally think it will drop just a bit further to the 50 fib of the all time low which is right at demand at about 131.18. That seems like the perfect turning point for a LOT of pips north. Ive been waiting a long long time for it to get down here and I think we will find lots of institutional buyers at this demand level. Just my 2cents.
Attached Image (click to enlarge)
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  • #17,549
  • May 5, 2011 7:04am May 5, 2011 7:04am
Quoting Magix
Man...talk about a classic break out by the books...shit just never looks this perfect, figured it'd be worth the post...

5M chart on EUR/USD...

Follow the numbers with the description...really, a thing of beauty...
Thanks Mag....looks like my call last night wasnt an idiot one after all....

Wish i'd stayed up after the fifty now.lol
All systems of divination, like music itself,work through patterns.
  • #17,550
  • May 5, 2011 7:35am May 5, 2011 7:35am
Quoting sandpipper
Yup....I watching this at the moment. This pair was my overnight trade which always feels good when it works out for 100 plus pips. I personally think it will drop just a bit further to the 50 fib of the all time low which is right at demand at about 131.18. That seems like the perfect turning point for a LOT of pips north. Ive been waiting a long long time for it to get down here and I think we will find lots of institutional buyers at this demand level. Just my 2cents.
It missed by buy order by about a pip so entered manually at 131.37 on my other account buy order got triggered at 131.26
  • #17,551
  • May 5, 2011 7:42am May 5, 2011 7:42am
Quoting sandpipper
Yup....I watching this at the moment. This pair was my overnight trade which always feels good when it works out for 100 plus pips. I personally think it will drop just a bit further to the 50 fib of the all time low which is right at demand at about 131.18. That seems like the perfect turning point for a LOT of pips north. Ive been waiting a long long time for it to get down here and I think we will find lots of institutional buyers at this demand level. Just my 2cents.

IMHO .As far as supply and demand is concern. ..121.25 is critical today.
If daily decides to close below it GJ , I think may drop down further tomorrow.
Look at how price reacted to previous level of old daily supply at 1.
Now we are playing no 2.
Level 2 also coincides with bottom of prev weekly supply which makes it much attractive .
Anyway ..this is how I play s/d.
Maybe other ppl have different approach.
Attached Image(s) (click to enlarge)
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  • #17,552
  • May 5, 2011 7:59am May 5, 2011 7:59am
Manual stop
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  • #17,553
  • May 5, 2011 8:21am May 5, 2011 8:21am
Aussie on watch, in demand M30. Went kind of rangeish.
  • #17,554
  • May 5, 2011 8:28am May 5, 2011 8:28am
Thanks
Quoting redsword11
its hit supply now 0.96300 area
  • #17,555
  • May 5, 2011 8:42am May 5, 2011 8:42am
Quoting Venice
Aussie on watch, in demand M30. Went kind of rangeish.
Quite the plummet from greatness on the Oz...
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #17,556
  • May 5, 2011 8:44am May 5, 2011 8:44am
Quoting Magix
Quite the plummet from greatness on the Oz...
Impressive, isn't it. Who would have thought, this beast actually does know how to come down a little bit. H4 is also sitting in a minor demand zone.
  • #17,557
  • May 5, 2011 8:48am May 5, 2011 8:48am
EU, rotten mother fucker...

Waited how long for this and it drops in the ealry hours whilst I slept, completely missing the whole shooting match...

Sigh...
Attached Image(s) (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #17,558
  • May 5, 2011 8:52am May 5, 2011 8:52am
Go Go Go......lets slice up supply levels into little itty bitty pieces as only the g/j can do.
Attached Image (click to enlarge)
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  • #17,559
  • May 5, 2011 8:54am May 5, 2011 8:54am
Quoting Magix
EU, rotten mother fucker...

Waited how long for this and it drops in the ealry hours whilst I slept, completely missing the whole shooting match...

Sigh...

Stupid question....based on your chart....should we retest the top of your red box?
  • #17,560
  • May 5, 2011 9:01am May 5, 2011 9:01am
Long Aussie POS. Tight stops, may not be much room here with 1.0690 here.
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