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Trades based on Market Geometry and Price Action

  • #2,241
  • Jul 16, 2011 1:40pm Jul 16, 2011 1:40pm
I have EURGBP due for a bounce as well.
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  • #2,242
  • Jul 16, 2011 2:09pm Jul 16, 2011 2:09pm
I don't know if anyone trades this pair, but I might start looking for a buy next week as well.
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  • #2,243
  • Jul 16, 2011 2:18pm Jul 16, 2011 2:18pm
i was testing the behavior of this pair to add it to my portfolio...but i found that it was too relalated to the aud...even when i saw beautiful set up, if the aud was going in a different way, the pattern would break...
  • #2,244
  • Jul 16, 2011 2:24pm Jul 16, 2011 2:24pm
Quoting dailyking
i was testing the behavior of this pair to add it to my portfolio...but i found that it was too relalated to the aud...even when i saw beautiful set up, if the aud was going in a different way, the pattern would break...

I just found your thread....simple and very concise.....I too think the Eur/USD will retrace to the 50% fibb.....that goes against what most S/D traders are thinking.....we shall C
  • #2,245
  • Jul 16, 2011 2:34pm Jul 16, 2011 2:34pm
ok it's possible
  • #2,246
  • Jul 16, 2011 2:36pm Jul 16, 2011 2:36pm
One more possibility
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  • #2,247
  • Jul 16, 2011 2:40pm Jul 16, 2011 2:40pm
Quoting dailyking
eur/usd is showing a small bullish movement in the overall down trend...a good retracement next week, will be surely followed by an up move...
I don't think so but at end market do what it like
I will take my next move when weekly close on Sunday
  • #2,248
  • Jul 16, 2011 2:43pm Jul 16, 2011 2:43pm
Quoting pmo
I have EURGBP due for a bounce as well.
me too....
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Click to Enlarge Name: EUR GBP setup.gif Size: 107 KB
  • #2,249
  • Jul 16, 2011 2:43pm Jul 16, 2011 2:43pm
Quoting dailyking
i was testing the behavior of this pair to add it to my portfolio...but i found that it was too relalated to the aud...even when i saw beautiful set up, if the aud was going in a different way, the pattern would break...
I like it on daily just bc it moves in large swings. I can't trade pairs that just have slow steady marches.
  • #2,250
  • Jul 16, 2011 2:47pm Jul 16, 2011 2:47pm
normally, euro will make a retrace, but it can go higher...there is a pivot level i'm watching right now, that can make a shift
  • #2,251
  • Jul 16, 2011 2:53pm Jul 16, 2011 2:53pm
Quoting egkid
I don't think so but at end market do what it like
I will take my next move when weekly close on Sunday

my eur/usd
Attached Image (click to enlarge)
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  • #2,252
  • Jul 16, 2011 2:58pm Jul 16, 2011 2:58pm
I'm anticipating a possible head and shoulders on daily, and hope to buy the bounce on the 4H, but anything is possible.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurgbp.gif Size: 17 KB
  • #2,253
  • Jul 16, 2011 3:13pm Jul 16, 2011 3:13pm
Quoting pmo
I'm anticipating a possible head and shoulders on daily, and hope to buy the bounce on the 4H, but anything is possible.

rght...as you mentioned -anything is possible. When I take a look at Weekly chart, there are 2 big red candles and possibly a candle pattern 3 blak crows could happen on weekly. Realy hard to say now. I myself think of long when the trendline up is broken ( green one on my chart).
But if lower daily trendline is broken down...itś another story.
  • #2,254
  • Jul 16, 2011 3:22pm Jul 16, 2011 3:22pm
i'm waiting for a clear pattern on eur/gbp before taking a trade
  • #2,255
  • Jul 16, 2011 3:26pm Jul 16, 2011 3:26pm
Quoting Tatbat
rght...as you mentioned -anything is possible. When I take a look at Weekly chart, there are 2 big red candles and possibly a candle pattern 3 blak crows could happen on weekly. Realy hard to say now. I myself think of long when the trendline up is broken ( green one on my chart).
But if lower daily trendline is broken down...itś another story.
Your H+S mentioned on your chart really could happen but I think itīs too early now to predict, But it would be nice because this pattern( or a similar one -diamond e.g.) has good probabilty to be formed .
  • #2,256
  • Jul 16, 2011 3:26pm Jul 16, 2011 3:26pm
Quoting dailyking
i'm waiting for a clear pattern on eur/gbp before taking a trade
yes, me too
  • #2,257
  • Jul 16, 2011 3:38pm Jul 16, 2011 3:38pm
Here's what setting up on my chart, 4H down side target of .8700~ area.
  • #2,258
  • Jul 16, 2011 4:01pm Jul 16, 2011 4:01pm
Quoting pmo
chart
updating to include past target chart. I'll be watching for it to bounce here or breaks thru to 8700.
Attached Image (click to enlarge)
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  • #2,259
  • Jul 16, 2011 4:10pm Jul 16, 2011 4:10pm
i entered 3 trades on aud/usd last friday that are working fine. i believe price will hit the 1.0600 area which is my target. i also think, there is another bar that will be forming triggering a reversal to the up side..let's wait and see
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  • #2,260
  • Jul 16, 2011 4:12pm Jul 16, 2011 4:12pm
the 4hr is also good to watch.
Attached Image (click to enlarge)
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