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EURUSD

  • #445,081
  • May 19, 2011 8:31am May 19, 2011 8:31am
geppy is officially a biatch
If you are new to Forex? Say Goodbye to your account!!
  • #445,082
  • May 19, 2011 8:31am May 19, 2011 8:31am
  •  Vilgax
  • | Joined Aug 2010 | Status: Lack of money is root of most evil | 466 Posts
closed my short at 4233. looks like its going up again rangey PA this
The forex market has its own life and takes its own time.
  • #445,083
  • May 19, 2011 8:32am May 19, 2011 8:32am
Quoting Gamaa
I am long 1.4225. TP 1.4308 SL 1.4185
4308 is low if it is able to get that far.
  • #445,084
  • May 19, 2011 8:32am May 19, 2011 8:32am
Quoting kuroro001
I wanna see 1,4365....i am waiting
..good luck mate
Look Sharp/Trade Tight
  • #445,085
  • May 19, 2011 8:33am May 19, 2011 8:33am
Quoting TheSwede
Two in a row at the first arrow and right after that. The reason I interpret it as a fake is because when it is tested its not rejected.
I think the "test" belongs to the "test" phase, lol.
I don't think it has anything to do with the fake.

From what I have learned reading cloggie's posts it works this way:

1) breach
2) test on the other side
3) rejection

I don't understand where the fake part is.

Also, I have never understood how he achives to distinguish breakouts from fakeouts.....
  • #445,086
  • May 19, 2011 8:34am May 19, 2011 8:34am
Quoting PayTheLimit
Things go up in price and things go down in price. If you call that ass kicking crude took from 148 to 33 a correction, well I dont know what to say to that...buy yes the upside is always possible, just dont discount the dowside, and dont listen to the big boys all the time.
...and by the way - that move from 148 to 33 was about biggest boys wanting to bankrupt arabic countries....
  • #445,087
  • May 19, 2011 8:35am May 19, 2011 8:35am
Quoting RamsesII
morning all, downside momentum appears to be waning a bit here, will need to have a strong thrust through support or a bounce appears in the works.
Don't have an ego. Always question yourself and your ability.
  • #445,088
  • May 19, 2011 8:35am May 19, 2011 8:35am
Hmmm don't get it but this is maybe a little clearer

Quoting tonegawa
I think the "test" belongs to the "test" phase, lol.
I don't think it has anything to do with the fake
Attached Image (click to enlarge)
Click to Enlarge Name: faked-breached-tested-rejected.gif Size: 31 KB
  • #445,089
  • May 19, 2011 8:39am May 19, 2011 8:39am
Quoting johnnyrei
...and by the way - that move from 148 to 33 was about biggest boys wanting to bankrupt arabic countries....
so I guess part of the plan was to also take the S&P from 1586 to 665?
Look Sharp/Trade Tight
  • #445,090
  • May 19, 2011 8:40am May 19, 2011 8:40am
From the way the curved and straight trendlines are laid out, my analysis is showing that there isnt a safe environment to go in at market price today. Instead the trendlines are suggesting a alternate strategy to trade.

The boundaries of the blue circles are the breaking spots for the range of motion. Once these boundaries break the chances of a safe trade will increase.

Best strategy is to put pending orders at the break of these boundaries. The perimiter of the red circles and the red trendline are the target zones for the entry orders. Once the boundaries of the red circles has been reached, there will be a reaction in the opposite direction. Again these boundaries could be broken which again is better. But to be on the safe side its best to set a target for these orders with a rather large stoploss.

The orange arrows show roughly where the entry orders are to be placed.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M15.jpg Size: 115 KB
  • #445,091
  • May 19, 2011 8:40am May 19, 2011 8:40am
Quoting PayTheLimit
so I guess part of the plan was to also take the S&P from 1586 to 665?
I don't know about S&P - only thing I know about S&P is that only thing that keeps it from collapsing is plunge protection team...
  • #445,092
  • May 19, 2011 8:41am May 19, 2011 8:41am
Quoting TheSwede
Hmmm don't get it but this is maybe a little clearer
ok thanks, now I see what you meant.

But the sequence is breach fake test rejection.

There is just one breach.

it's not like:

breach fake breach test rejection



Also have you understood how to distinguish fakeouts from breakouts?
  • #445,093
  • May 19, 2011 8:42am May 19, 2011 8:42am
Quoting Kambooj
From the way the curved and straight trendlines are laid out, my analysis is showing that there isnt a safe environment to go in at market price today....
Such a beautiful charting mate - thank you so much for sharing! Btw how many preiods do you use and do you draw circles straight into chart with some charting tool or in photoshop? thank you...
  • #445,094
  • May 19, 2011 8:43am May 19, 2011 8:43am
Quoting johnnyrei
I don't know about S&P - only thing I know about S&P is that only thing that keeps it from collapsing is plunge protection team...
lol, pretty funny..chat latter, have to step out...
Look Sharp/Trade Tight
  • #445,095
  • May 19, 2011 8:44am May 19, 2011 8:44am
What are all the circles about?? Never seen that before


Quoting Kambooj
From the way the curved and straight trendlines are laid out, my analysis is showing that there isnt a safe environment to go in at market price today. Instead the trendlines are suggesting a alternate strategy to trade.

The boundaries of the blue circles are the breaking spots for the range of motion. Once these boundaries break the chances of a safe trade will increase.

Best strategy is to put pending orders at the break of these boundaries. The perimiter of the red circles and the red trendline are the target zones for the entry orders....
  • #445,096
  • May 19, 2011 8:44am May 19, 2011 8:44am
+84 ( 7 X 12 )

+16%

MTD +935

+107.4%

Compounding factor 1.9 used today.

PA is getting quite messy and no clear patterns to trade since NY opened.
Standing aside for the day.
When LDN close I may post a few screenshots of the price patterns that could be traded today.
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 May. 19 15.27.jpg Size: 86 KB
" Never let the past hold the future to ransom "
  • #445,097
  • May 19, 2011 8:45am May 19, 2011 8:45am
Quoting johnnyrei
Such a beautiful charting mate - thank you so much for sharing! Btw how many preiods do you use and do you draw circles straight into chart with some charting tool or in photoshop? thank you...
I draw circles on many time frames, but for entry and exit I usually draw them on M15 or M5. You can use any tool to draw circles. I use NetDanias Chart, and use the Fibonacci Arc tool, but I take the labels out
  • #445,098
  • May 19, 2011 8:45am May 19, 2011 8:45am
Hello traders ,.

My view ,oil went from $95 too $101.
s&p,dow, naz all traded very strong .

Meanwhile in eur/usd land we headed for 4300 got rejected 4280 when the fed said it prefered interest rate rises to selling gold .
we later recovered and popped 4300.

eur/usd doesnt always react immediately to background fundies .

we been to bottom of channel but if the indices and oil trade were they are for a bit longer 1.4300 and above are very possible.

If the fundies tresde higher Then once 4300 goes we will head even higher .
US interest rates are not likely to rise before 2012 but eur rates might .

We had the chicago fake now see what new york really wants to do if anything.

I got the open level 1 .4255
yesterday open 1.4267
high 1.4287 yesterday
high 1.4306 today .
These are my levels to watch .
making green pips large and red pips small this is my goal.
  • #445,099
  • May 19, 2011 8:47am May 19, 2011 8:47am
Quoting PayTheLimit
..good luck mate
Thk buddy, but if it doesn't go in my way i will just reverse, time will tell!
COT: The precious data ignored
  • #445,100
  • Edited 8:48am May 19, 2011 8:47am | Edited 8:48am
You are so right.

Thanks for pointing that out. Will have a closer look at this later tonight. Btw one of cloggs later attachements show a trade he took. Look for the pattern there.

And this might explain why one of my trades failed today...

Quoting tonegawa
ok thanks, now I see what you meant.

But the sequence is breach fake test rejection.

There is just one breach.

it's not like:

breach fake breach test rejection



Also have you understood how to distinguish fakeouts from breakouts?
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