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  • #460,061
  • Jun 11, 2011 9:43am Jun 11, 2011 9:43am
Quoting mercy seat
As mkt did cut lower with fresh low at 1.4322 any near term upside corrective recovery should be limited to around 1.4402 - 1.4425 or 1.4442 - 1.4481 in an extention.

Otherwise downside limited as well ...

I don't expect further deep sell off activities on monday ...

1.4322 possible to hold at first ...

Below that are strong supports ...

Fib fan from 1.3968 lows to 1.4696 highs is at 61.8% here ...



;-|
Ohne Worte!

Ist ja bereits alles schon erwähnt ...

Alles basiert auf der letzten Aufdatung kurz vor Wochenschluß am Freitag ...



;-|
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-06-10 _ (23h15 CET) EUR-USD _ Monthly _ 000 candle 300-427-30.GIF Size: 80 KB
Click to Enlarge Name: 2011-06-10 _ (23h15 CET) EUR-USD _ Weekly _ 000 candle 300-500-30.GIF Size: 90 KB
Click to Enlarge Name: 2011-06-10 _ (23h15 CET) EUR-USD _ x1-Daily _ 000 candle 300-500-30.GIF Size: 83 KB
Click to Enlarge Name: 2011-06-10 _ (23h15 CET) EUR-USD _ min240 _ 000 candle 300-500-30.GIF Size: 87 KB
Click to Enlarge Name: 2011-06-10_22h09 - Pivots + ZigZag A-B-C _ EURUSD _ Update C _ W-23.PNG Size: 119 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #460,062
  • Jun 11, 2011 9:56am Jun 11, 2011 9:56am
http://lcchong.files.wordpress.com/2...ng?w=877&h=397

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
  • #460,063
  • Jun 11, 2011 10:22am Jun 11, 2011 10:22am
The previous uptrend has not been accepted by now the 8 hour chart. The failure at 61.8 and now just arond zero will be looking levels around next wend,thur and friday
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
  • #460,064
  • Jun 11, 2011 10:37am Jun 11, 2011 10:37am
Quoting Magix
Hey Jonas...

Not to be a total prick here, but looking at your charts it is hard to not revert back to some of the things discussed in house before the close of the week. Commenting on oversold and using indicators to judge turning points, vs just using them to follow the trend.

Now, I know you mentioned to look at a lower timeframe, like the H4 to watch for signs of reversals, but the illistrations you made on your charts are typically 100% of the reason that people get into trouble when using indicators for charting.

You have drawn divergence...
Hi Magix, hi Jonas,

hope that you enjoy your weekend beside analysing Forex :-)


Divergence plays are sometimes very profit-yielding, other times they are more than a pain.

Have seen it over and over again that divergences are build, only to watch later, that e.g. MACD only got back to zero line to, like I say, "reload" and then turns back in the initial direction.

And like with most other indcators too - overbought, oversold, divergences - can stay so long in this conditions one sometimes need very deep pockets.

For example:

You thought that you have been in a wave 3, wave 4 will bring the MACD back around zero, then comes the next wave down. MACD goes back below zero but not as deep as wave 4 brought us down. So you think "divergence".

You start loading up on long positions, only to witness then that price starts to accelerate down and MACD prints new lows. Gone are the divergences.

You scratch your head and a new count reveals that the preceding wave was not wave 3 but an extending wave 1.

Reloading one can see oftentimes on 15min and below, sometimes at 1h, more seldom at 4h
  • #460,065
  • Jun 11, 2011 10:42am Jun 11, 2011 10:42am
Quoting harigp
The previous uptrend has not been accepted by now the 8 hour chart. The failure at 61.8 and now just arond zero will be looking levels around next wend,thur and friday
Just out of curiosity, why is your zero line a third of the way up the chart?

Because of the high you chose, why wouldn't your zero line be the lowest low after that highest high?
Attached Image (click to enlarge)
Click to Enlarge Name: zero.gif Size: 27 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #460,066
  • Jun 11, 2011 10:57am Jun 11, 2011 10:57am
Quoting infinitus
Hi Magix, hi Jonas,
Divergence plays are sometimes very profit-yielding, other times they are more than a pain.

Have seen it over and over again that divergences are build, only to watch later, that e.g. MACD only got back to zero line to, like I say, "reload" and then turns back in the initial direction.

And like with most other indcators too - overbought, oversold, divergences - can stay so long in this conditions one sometimes need very deep pockets.

You start loading up on long positions, only to witness then that price starts to...
Hey Markus...

This is much the point I was trying to make. I agree that watching divergence can turn into some very profitable plays but in watching for them, allowing the indicators to turn before drawing the divergence is key...

If you look at the chart in my reply, you will see that I have extended the MACD line going past the divergence line that Jonas posted. The chart hasn't corrected yet, so an assumption of trend shift or directional change shouldn't be present.

Because this is a weekly chart that is posted, and in fact if one was to trade off of this weekly chart, waiting for the correction on the chart before assuming dead nut bottom would be the thing to do.

Jonas did mention to watch the lower time frames for a possible reversal, but again, and even off of that, a shift change on a weekly chart can take a pretty long while and it would be easy to get sucked in on a lower TF reversal...

Jonas.

I do appreciate the charts and analysis, please don't think I was trying to beat up on ya or anything. Keep em coming my friend, the true spirit of FF is to share ideas and learn from the community...

Thanks for the replies guys.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #460,067
  • Jun 11, 2011 11:04am Jun 11, 2011 11:04am
Quoting Magix
Just out of curiosity, why is your zero line a third of the way up the chart?

Because of the high you chose, why wouldn't your zero line be the lowest low after that highest high?
Yep i know the question will be probed the answer to this is how far you can go below the zero line and take your BP
  • #460,068
  • Jun 11, 2011 11:07am Jun 11, 2011 11:07am
Carry on
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 39 KB
  • #460,069
  • Jun 11, 2011 11:11am Jun 11, 2011 11:11am
Quoting harigp
Yep i know the question will be probed the answer to this is how far you can go below the zero line and take your BP
.
Attached Image
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #460,070
  • Jun 11, 2011 11:12am Jun 11, 2011 11:12am
Quoting PhAnTi'
well ill post a eurchf chart bcause theres no recent eurchf thread out there....

sorry for that,

but believe me this one is definielty one for the watch list

ok here we go....

eurchf weekly :

Attachment

Trend : Obviously down ( ^^ )...

LH,LL,LH,LL,LH,LL,LH,LL ....

THe heavy heavy super duber bullish divergence catched my eye, as we know divergence is one or even the most significant tool to identify possible trend reversals and corrections.
They work pretty awesome if you use them in addition with supply...


Hi Jonas,

I am watching EUR/CHF and USD/CHF too. Might take someday maybe USD/CHF, because of the declining Euro against USD it may be kind of double leveraged.

USDCHF and EURCHF nearly paint the same picture. Movement in USDCHF to the downside might be over whereas in EURCHF it seems, that we have one more wave down to go. Would like to see 1.19x to 1.20x. But not sure here at all, since the counts for both pairs seem to have an ending diagonal at their end and in this special cases it is not very clear where wave 4 ended.
  • #460,071
  • Jun 11, 2011 11:17am Jun 11, 2011 11:17am
Quoting Venice
Carry on
I like the set up brother, are you happy with that color configuration?
Look Sharp/Trade Tight
  • #460,072
  • Jun 11, 2011 11:19am Jun 11, 2011 11:19am
Quoting PayTheLimit
I like the set up brother, are you happy with that color configuration?
Yep. Very pastel and mellow
  • #460,073
  • Jun 11, 2011 11:20am Jun 11, 2011 11:20am
Quoting Venice
Yep. Very pastel and mellow
here is a blue one that caught be attention a while back, check it out if you like....


http://www.forexfactory.com/showthre...35#post4204135
Look Sharp/Trade Tight
  • #460,074
  • Jun 11, 2011 11:21am Jun 11, 2011 11:21am
Quoting PayTheLimit
here is a blue one that caught be attention a while back, check it out if you like....


http://www.forexfactory.com/showthre...35#post4204135
And I appear to be chanting OHIO above and below that post.... lmao
  • #460,075
  • Jun 11, 2011 11:25am Jun 11, 2011 11:25am
Quoting Venice
And I appear to be chanting OHIO above and below that post.... lmao
lol, I didn't even see that..lol..
Look Sharp/Trade Tight
  • #460,076
  • Jun 11, 2011 11:33am Jun 11, 2011 11:33am
Quoting PayTheLimit
lol, I didn't even see that..lol..
whats up PTL
  • #460,077
  • Jun 11, 2011 11:35am Jun 11, 2011 11:35am
Quoting darimik
whats up PTL
not much brother, just looking for some levels...
Look Sharp/Trade Tight
  • #460,078
  • Jun 11, 2011 11:41am Jun 11, 2011 11:41am
An HI Chart to watch for Tue , thur and Friday. Forex is not a big deal if you are smart to know the S/R










Forex is not a big deal if you know the support and Resistence

As far you konw your s/R and HI Chart






























hit\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #460,079
  • Jun 11, 2011 11:42am Jun 11, 2011 11:42am
Quoting Magix
.
Does it looking to this
Attached Image


I finished my homework for next week
  • #460,080
  • Edited 1:02pm Jun 11, 2011 11:44am | Edited 1:02pm
Quoting PayTheLimit
not much brother, just looking for some levels...

...what the hell is wrong with me, monthly projected 3 Level Method....I know, I know, needs some work...
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.gif Size: 14 KB
Look Sharp/Trade Tight
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