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  • #444,561
  • May 18, 2011 5:26pm May 18, 2011 5:26pm
how long r we gonna play in the channel between 4280 and 4200...
it looks like a triangle to me though...waiting for break out..
Patience, Emotion Control and Discipline.
  • #444,562
  • May 18, 2011 5:28pm May 18, 2011 5:28pm
Quoting johncen
how long r we gonna play in the channel between 4280 and 4200...
it looks like a triangle to me though...waiting for break out..
Looks like me like we are working on completing a gartley. (1H)
  • #444,563
  • May 18, 2011 5:32pm May 18, 2011 5:32pm
Quoting Venice
Looks like me like we are working on completing a gartley. (1H)
And to me an ascending wedge, up to 3 hours.

But this is something that is only an educated guess
  • #444,564
  • May 18, 2011 5:36pm May 18, 2011 5:36pm
Quoting ady_babe
And to me an ascending wedge, up to 3 hours.

But this is something that is only an educated guess
Well, those two things do go hand in hand... Do you mean a rising wedge (bearish formation)?
  • #444,565
  • May 18, 2011 5:37pm May 18, 2011 5:37pm
geek debt issues ... any news?


Quoting ady_babe
And to me an ascending wedge, up to 3 hours.

But this is something that is only an educated guess
  • #444,566
  • Edited 5:51pm May 18, 2011 5:41pm | Edited 5:51pm
oh piss, missed the buy at 4270.

For those that have their 15m chart up and want to see a pattern that repeats itself quite often, check out this buy.

Pretty solid break of resistance and retest on the next candle.

Now, if I didn't have beer in hand, I would have bought there lol
  • #444,567
  • May 18, 2011 5:43pm May 18, 2011 5:43pm
Quoting jfal013
geek debt issues ... any news?
the eurozone is pushing it off for as long as they can.
  • #444,568
  • May 18, 2011 5:50pm May 18, 2011 5:50pm
If bailout 110 billion at 5% = 5.5 billion yearly (15 million daily) on interest,

then the remaining 220 billion in 2 to 10 yr bonds at 16 to 26% = 35.2 - 57.5 billion yearly (~96 million to 156 million daily). In the Euro.

How is this sustainable ?



One doesn't need to be an accountant to see that we MUST be days (maybe a few weeks) away from default/ history!



Quoting fxpreacher
the eurozone is pushing it off for as long as they can.
  • #444,569
  • May 18, 2011 5:51pm May 18, 2011 5:51pm
Quoting Venice
Well, those two things do go hand in hand... Do you mean a rising wedge (bearish formation)?

According to Bulkowski it is a Ascending Triangle.
Triangle shape with horizontal top and upward sloping bottom. Breakout is upwards or downwards. Prices should have crossed several times this pattern, volume should be heavier at the start than the apex, and they are prone to premature breakouts.

Like perhaps now?

to further, it says the measurement at its base (distance between support and resistance) is the expected target.,and 63% get to target in a bear market, 75% in bull market
  • #444,570
  • May 18, 2011 5:52pm May 18, 2011 5:52pm
waiting to see where will we close at in 10 mins
Patience, Emotion Control and Discipline.
  • #444,571
  • May 18, 2011 5:52pm May 18, 2011 5:52pm
Quoting jfal013
If bailout 110 billion at 5% = 5.5 billion yearly (15 million daily) on interest,

then the remaining 220 billion in 2 to 10 yr bonds at 16 to 26% = 35.2 - 57.5 billion yearly (~96 million to 156 million daily). In the Euro.

How is this sustainable ?

truly mad
  • #444,572
  • May 18, 2011 5:53pm May 18, 2011 5:53pm
Quoting ady_babe
According to Bulkowski it is a Ascending Triangle.
Triangle shape with horizontal top and upward sloping bottom. Breakout is upwards or downwards. Prices should have crossed several times this pattern, volume should be heavier at the start than the apex, and they are prone to premature breakouts.

Like perhaps now?
Ah yes, ascending triangle. That's much better. Wedge and triangle two completely different things

Yes, infact that buy I was walking about a few posts back was exactly that. Break of resistance and retest for a buy.

Gartley targets are still higher. Right wing is always taller then the body and left wing of the bat.

Doesn't matter to me, I always let the candles lead the way, just wanted to point it out

Let's see how we play @ Monthly S1 here.
  • #444,573
  • May 18, 2011 5:57pm May 18, 2011 5:57pm
Quoting cloggie
I made my bed and just lie in it now. Missed the TP by 0.4 pips actually, not worried till 4300-ish goes. A close above 4285 would be the time I start paying attention.
he's got to sleep some time, probably better to catch it after London open anyway
  • #444,574
  • May 18, 2011 5:58pm May 18, 2011 5:58pm
Quoting ady_babe
According to Bulkowski it is a Ascending Triangle.
Triangle shape with horizontal top and upward sloping bottom. Breakout is upwards or downwards. Prices should have crossed several times this pattern, volume should be heavier at the start than the apex, and they are prone to premature breakouts.

Like perhaps now?

to further, it says the measurement at its base (distance between support and resistance) is the expected target.,and 63% get to target in a bear market, 75% in bull market

Which would mean a rise of around 150 pips from breakout if upwards, taking it to 1.443 which some people have been talking about. Personally I would be surprised if it hit this, the dollar would have to weaken more for me to aim so high.
  • #444,575
  • May 18, 2011 5:59pm May 18, 2011 5:59pm
there is no way... none... the euro at this level can be sustained. actually... the longer they put if off the better for a total collapse
  • #444,576
  • May 18, 2011 5:59pm May 18, 2011 5:59pm
Quoting Wulfgar
compressed channel to trade from for the next 24 Hrs

4184 - 4275
This was for yesterday.

Today the compressed channel is 4184 -4319

4184 is now HUGE support and is a great area to duke it out if you are a swing/position trader

Next Swing target topside is the 4529 on the current wide/weekly channels
  • #444,577
  • May 18, 2011 6:00pm May 18, 2011 6:00pm
Quoting Venice
Ah yes, ascending triangle. That's much better. Wedge and triangle two completely different things

Yes, infact that buy I was walking about a few posts back was exactly that. Break of resistance and retest for a buy.

Gartley targets are still higher. Right wing is always taller then the body and left wing of the bat.

Doesn't matter to me, I always let the candles lead the way, just wanted to point it out

Let's see how we play @ Monthly S1 here.
i think it is a triangle too...
we closed at a interesting position arnt we?
4277...
Patience, Emotion Control and Discipline.
  • #444,578
  • Edited 6:14pm May 18, 2011 6:01pm | Edited 6:14pm
Quoting ady_babe
According to Bulkowski it is a Ascending Triangle.
Triangle shape with horizontal top and upward sloping bottom. Breakout is upwards or downwards. Prices should have crossed several times this pattern, volume should be heavier at the start than the apex, and they are prone to premature breakouts.

Like perhaps now?

to further, it says the measurement at its base (distance between support and resistance) is the expected target.,and 63% get to target in a bear market, 75% in bull market
go to a 4h... the top points up as well as the bottom.. a bearish formation. but it and all formations mean nothing w/o the breakout.
the top of the ascending one atm is 4314.7 its ascending so as time goes in it gets higher..
if you take the bottom tl and mimic it to the higher wicks and it will make a bear flag needed to be filled. the last bounces off the lower tl using the 4h never reached the mimic upper line. usually =s a failed bull.
if the 4214.7 was breached and we went higher, that mimic line would be just under 4395 atm.. its ascending so as time goes on it would be higher. and even there is in the bear flag.
those who can, do. those who cant, talk about those who can
  • #444,579
  • May 18, 2011 6:03pm May 18, 2011 6:03pm
Quoting Venice
Ah yes, ascending triangle. That's much better. Wedge and triangle two completely different things

Yes, infact that buy I was walking about a few posts back was exactly that. Break of resistance and retest for a buy.

Gartley targets are still higher. Right wing is always taller then the body and left wing of the bat.

Doesn't matter to me, I always let the candles lead the way, just wanted to point it out

Let's see how we play @ Monthly S1 here.
Indeed they are different (my slip). Im with you here, the postulations are background to the price action.

My triangle targets into the 1.443 where does the bat target? higher again?

I must admit i know very little of the Gartley patterns.
  • #444,580
  • May 18, 2011 6:03pm May 18, 2011 6:03pm
Quoting gatorinla
go to a 4h... the top points up as well as the bottom.. i bearish formation. but it and all formations mean nothing w/o the breakout.
Seeing the same thing gator. Rising wedge, don't really see a solid resistance line that would entail this as a bull triangle.

Generally there will be a series of ups and downs that generate higher lows until the breakout.

As you stated, that is the key.

For me, I'm going to grab another beer!
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