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  • #15,741
  • Jul 25, 2011 12:16pm Jul 25, 2011 12:16pm
As for this pair it's a rather tempting buy for me, but I'll wait for the wicks to appear at about 0.94 level, if they appear at all there's no rush. Otherwise I'm not interested..So any comments?
  • #15,742
  • Jul 25, 2011 12:46pm Jul 25, 2011 12:46pm
Quoting kratun
As for this pair it's a rather tempting buy for me, but I'll wait for the wicks to appear at about 0.94 level, if they appear at all there's no rush. Otherwise I'm not interested..So any comments?
Have you checked this month and last month? Downtrend continues. Right now price is at Monthly, Weekly and Daily support. Will buyers take over as they did at this point at the end of April ? Or will sellers continue adding on to their positions?

What price action would you want to see to change direction? To continue in the current direction?
  • #15,743
  • Jul 25, 2011 1:01pm Jul 25, 2011 1:01pm
Quoting Lou
Have you checked this month and last month? Downtrend continues. Right now price is at Monthly, Weekly and Daily support. Will buyers take over as they did at this point at the end of April ? Or will sellers continue adding on to their positions?

What price action would you want to see to change direction? To continue in the current direction?
Yep downtrend is still intact.As for the buyers I don't know.Who Iam to tell what will happen.I'll I know however that price is pretty near support so I'll give a try to find out whether it will hold or not.If it's broken we might see even lower prices.
  • #15,744
  • Jul 25, 2011 1:11pm Jul 25, 2011 1:11pm
Quoting kratun
Yep downtrend is still intact.As for the buyers I don't know.Who Iam to tell what will happen.I'll I know however that price is pretty near support so I'll give a try to find out whether it will hold or not.If it's broken we might see even lower prices.
Do you think there is a direction with more probability than the other?
ie up down sideways?
  • #15,745
  • Jul 25, 2011 1:17pm Jul 25, 2011 1:17pm
Quoting Lou
Do you think there is a direction with more probability than the other?
ie up down sideways?
I really don't know sir.I'm wrong untill proved right.
  • #15,746
  • Jul 25, 2011 1:33pm Jul 25, 2011 1:33pm
Quoting kratun
I really don't know sir.I'm wrong untill proved right.
Just wondering if you are going long or short is all.
  • #15,747
  • Jul 25, 2011 1:46pm Jul 25, 2011 1:46pm
Quoting Lou
Just wondering if you are going long or short is all.
If certain conditions are met I'm a buyer if not I'm on the sideline..
  • #15,748
  • Jul 25, 2011 4:00pm Jul 25, 2011 4:00pm
Quoting Lou
A bar can be called a control bar only in retrospect. Its range must be greater than the bars following it. Thus its range is 'controlling' the bars to the right of it. Until a new bar closes outside of the range of the control bar, it continues to be in control of the range of price action.

See post 15727 where Strat has outlined one in white on a chart.

Lou

Thank you so much Lou, yu're very kind.
  • #15,749
  • Jul 25, 2011 6:45pm Jul 25, 2011 6:45pm
Quoting Chato
Hello!

Excuse me I'm a newbie here, what is a CONTROL BAR please??
Control bar is usually we are refering to monthly or weekly bar specially shooting star or hammer type. Price on Worker can not go far if the high and the low of the control bar is not being strongly taken out. Because it is monthly or weekly control bar that means it usually has 400 - 500 pips. Like Strat's said only if you know how to trade it.
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  • #15,750
  • Edited 9:29pm Jul 25, 2011 7:59pm | Edited 9:29pm
Quoting glasso
Hi Alexandra,
Monthly chart: Overall trend is down, March hammer is control bar.
Weekly chart: Last week candle rejected Fib78.6, this week candle is bearish, but momentum decrease, body is smaller than last week and closed at Fib78.6.
Let's see pullback to SR79.75 and the opportunity short with PASR.
Nice weekend!
Pull back your monthly a bit further back, and you'll see why I pose that question technically.

Fundamentally, my interventionist nose smells something brewing with the US debt ceiling issues, threats of default, etc.
  • #15,751
  • Jul 26, 2011 2:18am Jul 26, 2011 2:18am
Quoting Alexandra
Pull back your monthly a bit further back, and you'll see why I pose that question technically.

Fundamentally, my interventionist nose smells something brewing with the US debt ceiling issues, threats of default, etc.
Do you want to say the low of April 1995?
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  • #15,752
  • Jul 26, 2011 4:47am Jul 26, 2011 4:47am
Hello Patrick,

Aren't you Long gbpusd? (didn't see buy order on your charts )

Are you done using the Big Boss? Do you start your analysis from weekly charts only? If so feedback of this new approach would be highly welcome.


Thanks
GB
  • #15,753
  • Jul 26, 2011 2:05pm Jul 26, 2011 2:05pm
Daily control bar are important as well, Check out the chart with one important CB.
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  • #15,754
  • Jul 26, 2011 2:08pm Jul 26, 2011 2:08pm
Quoting Alexandra
Pull back your monthly a bit further back, and you'll see why I pose that question technically.

Fundamentally, my interventionist nose smells something brewing with the US debt ceiling issues, threats of default, etc.
Well, I think we will see 153 Euro soon and not expecting any flight to saftey in USD.

USDJPY is going to test the previous control bar support (low) IMO.
  • #15,755
  • Jul 26, 2011 5:29pm Jul 26, 2011 5:29pm
Quoting kratun
This pair worth looking what do you think ?
Yes,as long as you look down
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,756
  • Jul 26, 2011 5:36pm Jul 26, 2011 5:36pm
Quoting kratun
Wellcome back to this thread.Long time no see.As for the controling bars ,that's a pretty nonsense.Price will go where it wants to go.
As for the controling bars ,that's a pretty nonsense.

If you had spent THOUSANDS OF HOURS studying, reading and UNDERSTANDING thousands of charts you would take your foot out of your BIG FAT mouth! But hey, carry on thinking like that, the market needs liquidity!

Price will go where it wants to go.

Yes, but if you are a student of the charts, you have a pretty good idea where it wants to go!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,757
  • Jul 26, 2011 5:39pm Jul 26, 2011 5:39pm
Quoting Alexandra
Pull back your monthly a bit further back, and you'll see why I pose that question technically.

Fundamentally, my interventionist nose smells something brewing with the US debt ceiling issues, threats of default, etc.
Agree. This US debt default issue and pending Moody's ratings is a real spanner in the works that could change things before the $US is driven into the ground.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,758
  • Jul 26, 2011 9:34pm Jul 26, 2011 9:34pm
Quoting Rubens PP
Hello Patrick,

Aren't you Long gbpusd? (didn't see buy order on your charts )

Are you done using the Big Boss? Do you start your analysis from weekly charts only? If so feedback of this new approach would be highly welcome.


Thanks
GB
I was expecting more pull back to 4hr Strat shadow but than PA with the flag formation took place so I was in at the break. First position off at R and one at BE.
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  • #15,759
  • Jul 27, 2011 1:21am Jul 27, 2011 1:21am
Another Strat shadow trade. One closed at support and one @ BE.
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  • #15,760
  • Jul 27, 2011 6:07am Jul 27, 2011 6:07am
Quoting strat
Yes,as long as you look down
You mean up I presume??
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