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  • #61
  • Jul 7, 2011 3:13am Jul 7, 2011 3:13am
Hi Tarantula,

Newbie question here. You mentioned RSI as a very important indicator. I'm trying the RSI indi that came with MT4 and there are two fields I need to input value; Period and Apply To (Close, Open, High, Low, Median price, etc ...).

What TF do you use? I really wanna learn this stuff so your insights will be truly appreciated.
  • #62
  • Jul 7, 2011 3:15am Jul 7, 2011 3:15am
Quoting PhAnTi'
pewpew....hard to comment on... i guess we will see a nice sell-off if they dont gonna hike it because all are heavy ''rate hike to 0,50 biased'' .....
anyway actually they need to hike it soon or later....

lets c
Yes many see rate hike inevitable today. But look at PA. It started falling after the release of bad PPI numbers. Has the market priced it in? We may see a rate hike but this tanking of EU has already started.

I have read many experts expecting EU rate decision hike, but im not sure as EU is heading towards 4150 and last PPI was a disappointment.
  • #63
  • Jul 7, 2011 3:20am Jul 7, 2011 3:20am
Subscriberd

Green pips,
Seb
  • #64
  • Jul 7, 2011 3:20am Jul 7, 2011 3:20am
Hey Spiders.

I've been feeling a bit bored with my trading lately and decided to take a peek in the EUR/USD trading thread for the first time in years for a bit of fun/inspiration/perspective. 98% nonsense, of course, but came across your posts and now what looks to be an excellent thread. Thanks for starting it!

I'm particularly interested in learning more about your uses of RSI. I traded with it for years quite successfully but eventually switched over to CII (not CCI) because I found it superior for divergence purposes with my methods. I've never really looked at RSI in terms of these bullish and bearish zones though and I have to say that an initial run through some charts seems quite promising. Definitely offers something my CII does not.

Keep up the good work and I'll drop by from time to time. Might even throw in a chart or two but I kind of like the idea of keeping things on track with your own stuff for now. Cheers!
  • #65
  • Jul 7, 2011 3:30am Jul 7, 2011 3:30am
Quoting Flynchenberg
Subscriberd

Green pips,
Seb
Quoting Auron112
Hey Spiders.

I've been feeling a bit bored with my trading lately and decided to take a peek in the EUR/USD trading thread for the first time in years for a bit of fun/inspiration/perspective. 98% nonsense, of course, but came across your posts and now what looks to be an excellent thread. Thanks for starting it!

I'm particularly interested in learning more about your uses of RSI. I traded with it for years quite successfully but eventually switched over to CII (not CCI) because I found it superior for divergence purposes with my methods....
Welcome!

As for RSI..Yes i will post RSI trades as I trade it solely on h1 chart. There is so much RSI can offer...
To be honest I have never heard of CII before, and Id glad if u post ur views based on CII.

Me and Black Widow use somewhat different approaches but usually looking at the same picture so feel free to post and comment. I respect different opinions!
  • #66
  • Jul 7, 2011 3:38am Jul 7, 2011 3:38am
Quoting Flynchenberg
Subscriberd

Green pips,
Seb
Quoting Auron112
Hey Spiders.

I've been feeling a bit bored with my trading lately and decided to take a peek in the EUR/USD trading thread for the first time in years for a bit of fun/inspiration/perspective. 98% nonsense, of course, but came across your posts and now what looks to be an excellent thread. Thanks for starting it!

I'm particularly interested in learning more about your uses of RSI. I traded with it for years quite successfully but eventually switched over to CII (not CCI) because I found it superior for divergence purposes with my methods....
Welcome!

As for RSI..Yes i will post RSI trades as I trade it solely on h1 chart. There is so much RSI can offer...
To be honest I have never heard of CII before, and Id glad if u post ur views based on CII.

Me and Black Widow use somewhat different approaches but usually looking at the same picture so feel free to post and comment. I respect different opinions and i am glad to listen.
  • #67
  • Jul 7, 2011 3:46am Jul 7, 2011 3:46am
Quoting qcumber
Hi Tarantula,

Newbie question here. You mentioned RSI as a very important indicator. I'm trying the RSI indi that came with MT4 and there are two fields I need to input value; Period and Apply To (Close, Open, High, Low, Median price, etc ...).

What TF do you use? I really wanna learn this stuff so your insights will be truly appreciated.
Hi! I use h1 and RSI 14 close.
  • #68
  • Jul 7, 2011 3:55am Jul 7, 2011 3:55am
Quoting T@rantula
Hi! I use h1 and RSI 14 close.
Ok. From your earlier post, you mentioned RSI range between 60 and 20 is considered BEARISH and between 80 and 40 is bullish. I'm looking at EU 1hr TF now with the above RSI settings but I just can't see it in the RSI indi. Erm .. can you explain a wee bit further please???
  • #69
  • Jul 7, 2011 4:01am Jul 7, 2011 4:01am
Hi T@rantula and congrats on your thread!!

I am at work so won't be able to post charts but will try to do it in the evening or morning.

I agree with you regarding ECB. I'm of the opinion the market has already PRICED the probability of today's ECB 25 bps interest rate hike (upside trend-line break on the 3-month Euribor rate).
We also have US unemployment claims at 1:30pm.

Well done again, I'm looking forward to your posts


Quoting T@rantula
Good day friends!

And welcome...

We are having bid rate decision today. My opinion is also...No rate hike...

Why? We had a bad PPI number. As you already know good PPI number counts for higher inflation thus CB need to raise the rates in order to keep price and currency stability. We have had a set of bad data for EUR also PPI...

Market may already have that priced in so...there is no rate hike IMHO.

Just to make sure as we dont know it yet, keep all of your intraday trades on BE.
  • #70
  • Jul 7, 2011 4:07am Jul 7, 2011 4:07am
Watch the EC moves in direction EU is moving. Opening 2 EU correlated pairs puts u double exposed to EUR currency. Do this ONLY if u are sure in your trade.

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  • #71
  • Jul 7, 2011 4:12am Jul 7, 2011 4:12am
Quoting qcumber
Ok. From your earlier post, you mentioned RSI range between 60 and 20 is considered BEARISH and between 80 and 40 is bullish. I'm looking at EU 1hr TF now with the above RSI settings but I just can't see it in the RSI indi. Erm .. can you explain a wee bit further please???
Open RSI and add 20-80 levels manually
  • #72
  • Jul 7, 2011 4:23am Jul 7, 2011 4:23am
Notice how the price got close to 4350 before tanking. That is what institutional traders do. Placing the big money close to round numbers. We have seen many times selling into strength.
  • #73
  • Jul 7, 2011 5:02am Jul 7, 2011 5:02am
G'day T, thanks for your efforts here. I seldom post to trading threads now, and I'm sure you know why. I can see much of my own style in your trading methods and I shall be very keen to see how this develops.

Cheers, and all the best.

RJ
Doing what you like is Freedom. Liking what you do is Happiness.
  • #74
  • Jul 7, 2011 5:09am Jul 7, 2011 5:09am
Quoting realjumper
G'day T, thanks for your efforts here. I seldom post to trading threads now, and I'm sure you know why. I can see much of my own style in your trading methods and I shall be very keen to see how this develops.

Cheers, and all the best.

RJ
I know mate ....Welcome and feel free to post and discuss.

Cheers!
  • #75
  • Jul 7, 2011 5:14am Jul 7, 2011 5:14am
As we know...enter on retracement...a scalp trade

Red lines are entry points...Last 1 scalped for 5. Thats called scalping into support.

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Always wait for a retracement before jumping into a trade. The only exception is Breakout (BO) trade where ur entry is MOMENTUM based.
  • #76
  • Jul 7, 2011 5:22am Jul 7, 2011 5:22am
THis is Futures volume for EURUSD pair.

As You can see, the highy traded voulme from 110626-110702 is level 1.4240.
If we dip down on on Trichet, this level might provide strong support.
Option PUT levels below as well.

Thx,
Seb
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  • #77
  • Jul 7, 2011 5:24am Jul 7, 2011 5:24am
Quoting Flynchenberg
THis is Futures volume for EURUSD pair.

As You can see, the highy traded voulme from 110626-110702 is level 1.4240.
If we dip down on on Trichet, this level might provide strong support.
Option PUT levels below as well.

Thx,
Seb
Very interesting as my Intraday went to 4250-55, so a small pending could be placed around there as well to buy into weakness for a scalp trade.
  • #78
  • Jul 7, 2011 5:28am Jul 7, 2011 5:28am
Quoting Flynchenberg
THis is Futures volume for EURUSD pair.

As You can see, the highy traded voulme from 110626-110702 is level 1.4240.
If we dip down on on Trichet, this level might provide strong support.
Option PUT levels below as well.

Thx,
Seb
Good Sensible and informative post...
This is a good way to post because:
A) Reason to Post : Fundamental event coming up
B) What levels to look for and reason behind it
C) Chart


This is the kind of quality expected here..
Well done mate

Regards
Black Widow
Be sensitive to subtle differences between 'intuition' and 'into wishing.
  • #79
  • Jul 7, 2011 5:33am Jul 7, 2011 5:33am
Quoting BlackWid0w
Good Sensible and informative post...
This is a good way to post because:
A) Reason to Post : Fundamental event coming up
B) What levels to look for and reason behind it
C) Chart


This is the kind of quality expected here..
Well done mate

Regards
Black Widow

Cool spiders


Seb
  • #80
  • Jul 7, 2011 5:34am Jul 7, 2011 5:34am
Quoting T@rantula
Very interesting as my Intraday went to 4250-55, so a small pending could be placed around there as well to buy into weakness for a scalp trade.
some of my levels....

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i expect some euro drop later....doesnt matter if they hike or not.... Trickie T will say s.th like that they wont care about future and upcoming bailouts in the eurozone and thats the nations job to care for their own debts etc.... in addition he'll need to justify the rate hike , conclusion = summary of all the bad arse figures in the eurozone and so on...

technical we're still in a downtrend on the monthly,weekly and daily as long as we dont get a confirmation of a Higher low on the daily....but good for some correction up to reload longs...anyway news later and nfp tomorrow will give us the leading direction for this month.

im not rly confident with longs.... anyway flat until news

Jonas
Hero calls followed by margin calls...
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