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  • #15,601
  • Jun 9, 2011 6:48pm Jun 9, 2011 6:48pm
Quoting trogger
Hi Rubens PP

First "yes and no, No and yes,... Maybe" to your opening line:
you're thinking short I presume.

I am merely saying we are at a level to be watching.
Without wanting to be too repetitive, price can only do one of 3 things from here....
1. = ?
2. = ?
3. = ?


Now, with regard to

PRICE broke out of the huge Big Boss triangle last March

yes, it did.

And the time to buy was, imo, on the retest of that weekly trendline (arrowed) after the inverted hammer on the worker.

Attachment ...
Well explained, Wild Thing!

There are no better pairs, in fact I can't find a pair - too much consolidation
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,602
  • Jun 10, 2011 11:07am Jun 10, 2011 11:07am
PA on Worker, 4hr entry using average in you don't lose much if you are wrong.
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  • #15,603
  • Jun 10, 2011 11:16am Jun 10, 2011 11:16am
We are witnessing trend chang in process if 9600 level hold. The chart is trying to tell us something. The Boss 20 is giving us a clue.
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  • #15,604
  • Jun 10, 2011 11:36am Jun 10, 2011 11:36am
a trend change in U/C to up or down?

usually how many pips needs to be considered broken in your E/U chart?
  • #15,605
  • Jun 10, 2011 12:38pm Jun 10, 2011 12:38pm
Quoting patrick25
PA on Worker, 4hr entry using average in you don't lose much if you are wrong.
Good job, Patrick.

You could actually have got in earlier on both your sells.

You could have entered below the Head & Shoulders' support for the first.

On the second, knowing that the Worker was down and the H4 falling through the Strat Shadow, you could have drawn a TL on the small pull back and entered on the break of that.

Make sure you go back to the Worker to monitor your trades otherwise you will be trading H4.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-06-10-11.gif Size: 14 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,606
  • Jun 10, 2011 12:45pm Jun 10, 2011 12:45pm
Quoting patrick25
We are witnessing trend chang in process if 9600 level hold. The chart is trying to tell us something. The Boss 20 is giving us a clue.
Difficult to imagine when Crude and $CAN are positioning for another move North and, who will buy $US? Better still, who wants to buy $US?
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,607
  • Jun 10, 2011 8:51pm Jun 10, 2011 8:51pm
Quoting strat
Difficult to imagine when Crude and $CAN are positioning for another move North and, who will buy $US? Better still, who wants to buy $US?
I remember a while back when the Euro was going to collapse and it got stronger for weeks! Lol.
" I can read the left side of the chart, the right side's a Bitch!
  • #15,608
  • Jun 11, 2011 3:00pm Jun 11, 2011 3:00pm
Quoting strat
Good job, Patrick.

You could actually have got in earlier on both your sells.

You could have entered below the Head & Shoulders' support for the first.

On the second, knowing that the Worker was down and the H4 falling through the Strat Shadow, you could have drawn a TL on the small pull back and entered on the break of that.

Make sure you go back to the Worker to monitor your trades otherwise you will be trading H4.
Thank you for your inputs Strat.
  • #15,609
  • Jun 11, 2011 3:07pm Jun 11, 2011 3:07pm
Quoting strat
Difficult to imagine when Crude and $CAN are positioning for another move North and, who will buy $US? Better still, who wants to buy $US?
Chart is giving us a few good indications, price seems to refuse to go down and finds a few support levels and Strat shadow on on Worker, and usdcad likes to form V pattern for reversal. Will wait and see.
Attached Image (click to enlarge)
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  • #15,610
  • Jun 12, 2011 3:01am Jun 12, 2011 3:01am
hello house,please can any body direct me to any webpage where i can get updated and much in detail fundamental news as regards the forex market.thanks.
  • #15,611
  • Jun 12, 2011 9:19am Jun 12, 2011 9:19am
Quoting bjpumping
hello house,please can any body direct me to any webpage where i can get updated and much in detail fundamental news as regards the forex market.thanks.
Try the DailyFX FXCM site - Julie Chen on there likes to write a lot of waffle about where and why the markets are going. Good luck.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,612
  • Jun 12, 2011 1:51pm Jun 12, 2011 1:51pm
Quoting trogger
Parity next for the kiwi?
Maybe the big boys are bored with the Aussie?
All time frames up.

Attachment

Attachment

Attachment


I won't be buying an upside break of these levels, if it happens next week.
Zero point six of a pip actually, according to my charts.
Don't be lazy - pull up your own!

OK - on the BIG BOSS first of all - what do you notice?
Yes, Feb and March 2008 perfect double top at 0.82130 followed by complete meltdown.

Where are we now? 0.82136 at New York close for the week (at least according to my broker's data).

Now, I am certainly not proposing another freefall like the one that followed the 2008 peak but I am suggesting you have this pair on your watch list. This is a critical level.

Anyone thinking this is a "short alert" needs to keep in mind:

1. over the 27 year history of a floated kiwi, we have come very close to parity with the Aussie dollar
2. The Aussie hit 1.10 versus the US just a couple of weeks back..

that means plenty of upside risk to the kiwi!!

Price Action first, then SL and appropriate position sizing.
  • #15,613
  • Jun 12, 2011 2:05pm Jun 12, 2011 2:05pm
Check the Eur.NZ too.

Note the fact that we have not yet breached the bottom of the May bar on the big boss.

On the Boss, week before last, you see a near 600 pip BUEB bounce from the 173.50ish level. last week, that bar almost fully retraced - but not quite!

That level is key and I will be watching with interest when the markets open today.
  • #15,614
  • Jun 12, 2011 6:58pm Jun 12, 2011 6:58pm
Quoting trogger
Zero point six of a pip actually, according to my charts.
Don't be lazy - pull up your own!

OK - on the BIG BOSS first of all - what do you notice?
Yes, Feb and March 2008 perfect double top at 0.82130 followed by complete meltdown.

Where are we now? 0.82136 at New York close for the week (at least according to my broker's data).

Now, I am certainly not proposing another freefall like the one that followed the 2008 peak but I am suggesting you have this pair on your watch list. This is a critical level.

Anyone thinking this...
Don't think about shorting NZDUSD until there is a strong CLOSE below the Big Boss TL. Until then, its just pull backs to the UP trend.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,615
  • Jun 14, 2011 7:58pm Jun 14, 2011 7:58pm
Quoting strat
Don't think about shorting NZDUSD until there is a strong CLOSE below the Big Boss TL. Until then, its just pull backs to the UP trend.
Thanks for the post.
I didn't word my
original post so well - was trying to point out there could still be 2000 pips upside if we look at historical relativities between Kiwi, Auusie and US dollar pairs.

So, you quite rightly point out "don't anticipate the markets"

Let PA lead the way!


Now, I have "shorted" Kiwi - against the Aussie as the BB and B trends are UP.
Have 3 positions, with targets (a little arbitary at this stage) for two and one open (at this stage).
SL as indicated.
Thanks for all the help Strat.

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  • #15,616
  • Jun 15, 2011 2:58pm Jun 15, 2011 2:58pm
Quoting strat
Good job, Patrick.

You could actually have got in earlier on both your sells.

You could have entered below the Head & Shoulders' support for the first.

On the second, knowing that the Worker was down and the H4 falling through the Strat Shadow, you could have drawn a TL on the small pull back and entered on the break of that.

Make sure you go back to the Worker to monitor your trades otherwise you will be trading H4.
My second position was stopped out @ BE. I added it back on when 4hr candle broke the trend line. Will take profit after this 4hr closes.
Attached Image (click to enlarge)
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  • #15,617
  • Jun 15, 2011 3:13pm Jun 15, 2011 3:13pm
Quoting patrick25
My second position was stopped out @ BE. I added it back on when 4hr candle broke the trend line. Will take profit after this 4hr closes.
Good job, Patrick - better than my entry!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,618
  • Jun 15, 2011 3:34pm Jun 15, 2011 3:34pm
Quoting strat
Good job, Patrick - better than my entry!
Thanks Strat. We took advantage of 4hr Strat shadow + flag + 4hr trend.
  • #15,619
  • Jun 22, 2011 6:56pm Jun 22, 2011 6:56pm
PA with Strat shadow + trend entry on 4hr.
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  • #15,620
  • Jun 22, 2011 7:07pm Jun 22, 2011 7:07pm
Quoting patrick25
PA with Strat shadow + trend entry on 4hr.
Yet another excellent entry and trade. Well done Patrick!
15 YEARS OF PASR ON FOREX FACTORY!
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