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  • #476,881
  • Jun 30, 2011 9:19am Jun 30, 2011 9:19am
cloggie....

This is the part I am not understanding...

I am watching price on 5 min chart....it had two blue bars closing at 4480 and 81.....then we have a momentum bar go um to 4490 and now back below 76....

I thought if we made a new high at 90 and closed above 79.....we would go higher....but we are now back to below 79....

how do you read this to know when to validate the move? thanks
  • #476,882
  • Jun 30, 2011 9:19am Jun 30, 2011 9:19am
Quoting cloggie
Now all we need is the second ingredient, a close above 79

very very good !! good mentor !
  • #476,883
  • Jun 30, 2011 9:19am Jun 30, 2011 9:19am
Quoting Magix


Now that's funny!
That's not funny.

I use price of pizza as an indicator of US economy. If a worker spends $9 for two slices of pizza, one can of soda and subway fair, the US economy is OK. But if this budget comes down to $5 minus the soda, things are no good.
The Thief of Wall Street
  • #476,884
  • Jun 30, 2011 9:20am Jun 30, 2011 9:20am
Quoting cloggie
Now all we need is the second ingredient, a close above 79
Cheers cloggie. Definitely liking the swissy a lot more right now. What a treat. Usually the swissy is my turd of currencies that I trade. lol
  • #476,885
  • Jun 30, 2011 9:22am Jun 30, 2011 9:22am
Quoting IMARICH1
cloggie....

This is the part I am not understanding...

I am watching price on 5 min chart....it had two blue bars closing at 4480 and 81.....then we have a momentum bar go um to 4490 and now back below 76....

I thought if we made a new high at 90 and closed above 79.....we would go higher....but we are now back to below 79....

how do you read this to know when to validate the move? thanks

..
Attached Image (click to enlarge)
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  • #476,886
  • Jun 30, 2011 9:22am Jun 30, 2011 9:22am
Quoting cloggie
Now all we need is the second ingredient, a close above 79
67 retested again..that's more funny when you know levels.
North looks good.
  • #476,887
  • Jun 30, 2011 9:22am Jun 30, 2011 9:22am
Quoting GoldMan.
This is WTF
80 pips scalped half a lot each holy crap all the chart studying and waiting proved meaningless, jumped on the train got 10 jumped out, train accelerating jumped back on got 15 jumped out, looked at the candle, jumped back up...
Got the rest and still don't know why? Couldn't care less now paid for all the losses for the last couple of weeks.
Don't get mad, get even!
  • #476,888
  • Jun 30, 2011 9:23am Jun 30, 2011 9:23am
Quoting Gleneagles
the levels are sometimes valid for a few days, i only change them if it is patently wrong, the first 1-2 hours around LDN open will normally confirm whether your levels are OK.

if you are not sure , use 2 charts , trade the price patterns as confirmation not the levels itself

ok thank' s ! 1,4487 - 1,4467 ecc. very well today ! I am getting better! thank you !
  • #476,889
  • Jun 30, 2011 9:23am Jun 30, 2011 9:23am
And now we have the second test here with a new momentum bar on the 5.
  • #476,890
  • Jun 30, 2011 9:24am Jun 30, 2011 9:24am
Quoting IMARICH1
cloggie....

This is the part I am not understanding...

I am watching price on 5 min chart....it had two blue bars closing at 4480 and 81.....then we have a momentum bar go um to 4490 and now back below 76....

I thought if we made a new high at 90 and closed above 79.....we would go higher....but we are now back to below 79....

how do you read this to know when to validate the move? thanks
Good question! Would want to ask the same.
As what I than could guess is that on the 5 min bar it did close above 79, but still not on the hourly or 15min. So like Cloggie said, the higher TF confirmations, the better.
So I am watching this next 5min, 15min and 30m bar for 79 confirmation.
  • #476,891
  • Jun 30, 2011 9:25am Jun 30, 2011 9:25am
Quoting IMARICH1
cloggie....

This is the part I am not understanding...

I am watching price on 5 min chart....it had two blue bars closing at 4480 and 81.....then we have a momentum bar go um to 4490 and now back below 76....

I thought if we made a new high at 90 and closed above 79.....we would go higher....but we are now back to below 79....

how do you read this to know when to validate the move? thanks
you are good fella, you are. ask the question which i try to. Thanks.
well, i think its depends TFs


  • #476,892
  • Jun 30, 2011 9:25am Jun 30, 2011 9:25am
Quoting cloggie
And now we have the second test here with a new momentum bar on the 5.

do you use very oftern resistence and support body candles ?
  • #476,893
  • Jun 30, 2011 9:25am Jun 30, 2011 9:25am
just returned from blood donating and see eurjpy 80 pips up,chfjpy 80 pips down, usdcad some down while usdchf bursted 120 pips up....

well

lol
Hero calls followed by margin calls...
  • #476,894
  • Jun 30, 2011 9:26am Jun 30, 2011 9:26am
Quoting cloggie
95

  • #476,895
  • Jun 30, 2011 9:26am Jun 30, 2011 9:26am
Quoting cloggie
..
So that little bar around close 81 on 5min was enough confirmation?
As price just went to 95?
  • #476,896
  • Jun 30, 2011 9:28am Jun 30, 2011 9:28am
cloggie,

thanks..that's exactly my point....we had those 2 green candles close at 4480 and 81...which is above 79....and then it dropped....

just trying to see when it confirms to enter.....I would have entered then on the close at 81....but it dropped....so why did we need to wait on the 2nd ingredient to close about 79 again?

Please be patient....I appreciate this help
  • #476,897
  • Jun 30, 2011 9:29am Jun 30, 2011 9:29am
TP 4501..
looking for investors . pm me
  • #476,898
  • Jun 30, 2011 9:30am Jun 30, 2011 9:30am
I start 1.448 long.
Never had this confidence.
I am ready to stop it +40pip or at least +/-0
  • #476,899
  • Jun 30, 2011 9:32am Jun 30, 2011 9:32am
Quoting IMARICH1
cloggie,

thanks..that's exactly my point....we had those 2 green candles close at 4480 and 81...which is above 79....and then it dropped....

just trying to see when it confirms to enter.....I would have entered then on the close at 81....but it dropped....so why did we need to wait on the 2nd ingredient to close about 79 again?

Please be patient....I appreciate this help
Maybe you need to try harder, in case he gets inpatient.
You never know. Hint: PM
Don't get mad, get even!
  • #476,900
  • Jun 30, 2011 9:32am Jun 30, 2011 9:32am
Quoting IMARICH1
cloggie,

thanks..that's exactly my point....we had those 2 green candles close at 4480 and 81...which is above 79....and then it dropped....

just trying to see when it confirms to enter.....I would have entered then on the close at 81....but it dropped....so why did we need to wait on the 2nd ingredient to close about 79 again?

Please be patient....I appreciate this help

IT all depends on your trading style, for me the protection of 53 as mentioned earlier set the way to 95 as also posted earlier, so you either scalp the smaller moves, or use it to stay in a trade or move your stops accordingly. There is always a bit of noise on the lower TF's not getting the momentum on a close above 79 did not mean that the move failed as it could well be a fake 'n shake which is was in this case, so keeping an eye on the larger levels, in this case 53-95 would have kept you from closing too early or being too worried about the failure of the further move on that particular bar on the 5.
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