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EURUSD

  • #505,441
  • Aug 1, 2011 9:58am Aug 1, 2011 9:58am
Quoting AllyB
in your dreams
Wow....now Gator is my hero
  • #505,442
  • Aug 1, 2011 9:59am Aug 1, 2011 9:59am
My h1 chart:

Attached Image (click to enlarge)
Click to Enlarge Name: h1.png Size: 49 KB
  • #505,443
  • Aug 1, 2011 9:59am Aug 1, 2011 9:59am
Quoting Nighttrader
It was up during the 10 days before that so I would say thursday and friday was the retrace for more bull. Should be if taking the last months as a sideway then and not caring about that the last two weeks was up.
But what do the last 10 days have to do with the price of tea in china?

Point being, try and focus on the most recent waves; As far as I was concerned, the up move 'trend' was done on the 27th and has been ever since. Only when the next bear cluster is cleared do I consider us long again.
  • #505,444
  • Aug 1, 2011 9:59am Aug 1, 2011 9:59am
Quoting PayTheLimit
bastards......yesterdays low mofu, on the retest...
yes... yes .bastards
  • #505,445
  • Aug 1, 2011 10:00am Aug 1, 2011 10:00am
Quoting Nighttrader
Amaze me a little bit how many seems to catch the short today. Are you all countertrend traders? To me it looks like a trade against the trend if not looking at only 5 minute bars. Hourly pointing upwards all day at least until the close below 4350 and then it was still above daily pivot and would have been just a lottery to take a chance at ISM. Even the past daily bars had tails to the downside warning for a coming up bar confirmation.

Looking only on that 5 minute bar trend goes so wrong many times but that might be just me.
74.28 may put the brakes on the eu bounce. other levels on the chart
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.PNG Size: 19 KB
those who can, do. those who cant, talk about those who can
  • #505,446
  • Aug 1, 2011 10:00am Aug 1, 2011 10:00am
Quoting gatorinla
i hope in a gargling sound.. in a nice, kinda smoke a cigarete way.

and i dont even smoke.
nice stop on the pink again up top...
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.gif Size: 18 KB
Look Sharp/Trade Tight
  • #505,447
  • Aug 1, 2011 10:02am Aug 1, 2011 10:02am
Quoting PayTheLimit
what are the countertrend police...
Well if the traders are only looking on 5 minute bars today then it's not countertrend. But any sell on hourly or daily is countertrend for me as ema20 on them is up.
  • #505,448
  • Aug 1, 2011 10:02am Aug 1, 2011 10:02am
Quoting AllyB
in your dreams
those who can, do. those who cant, talk about those who can
  • #505,449
  • Aug 1, 2011 10:02am Aug 1, 2011 10:02am
Quoting gatorinla
74.28 may put the brakes on the eu bounce. other levels on the chart
I have 4243. Let's see.
  • #505,450
  • Aug 1, 2011 10:04am Aug 1, 2011 10:04am
Quoting chess king
yes... yes .bastards
right...
Look Sharp/Trade Tight
  • #505,451
  • Aug 1, 2011 10:05am Aug 1, 2011 10:05am
Quoting PayTheLimit
right...
  • #505,452
  • Aug 1, 2011 10:06am Aug 1, 2011 10:06am
It looks like that red line is of some importance:

Attached Image (click to enlarge)
Click to Enlarge Name: h1a.png Size: 53 KB
  • #505,453
  • Aug 1, 2011 10:07am Aug 1, 2011 10:07am
Quoting Nighttrader
Well if the traders are only looking on 5 minute bars today then it's not countertrend. But any sell on hourly or daily is countertrend for me as ema20 on them is up.
well I guess I was trading countertrend today, thanks for pointing it out...
Look Sharp/Trade Tight
  • #505,454
  • Aug 1, 2011 10:08am Aug 1, 2011 10:08am
Gator, can u show me on a chart with regards to this .. "..broken candles.. a good head fake clue " .. and earlier u said "cross on broken candles don't last." .. issit the same thing ? Thanks in advance.
You gotta know when to hold 'em, know when to fold 'em ...
  • #505,455
  • Aug 1, 2011 10:08am Aug 1, 2011 10:08am
Quoting Venice
I have 4243. Let's see.
74.27 is the low... between the 2, both hit your resistance and my support. at the same time
those who can, do. those who cant, talk about those who can
  • #505,456
  • Aug 1, 2011 10:08am Aug 1, 2011 10:08am
Quoting Nighttrader
Amaze me a little bit how many seems to catch the short today. Are you all countertrend traders? To me it looks like a trade against the trend if not looking at only 5 minute bars. Hourly pointing upwards all day at least until the close below 4350 and then it was still above daily pivot and would have been just a lottery to take a chance at ISM. Even the past daily bars had tails to the downside warning for a coming up bar confirmation.

Looking only on that 5 minute bar trend goes so wrong many times but that might be just me.

I'm glad I'm not the only one that saw this. The 5 min was breaking down, but all longer time frames were pointing up.

I think anyone that was in this short from the highs got lucky on a news gamble, but congrats on the big pay off nonetheless.
  • #505,457
  • Aug 1, 2011 10:09am Aug 1, 2011 10:09am
Quoting Venice
But what do the last 10 days have to do with the price of tea in china?

Point being, try and focus on the most recent waves; As far as I was concerned, the up move 'trend' was done on the 27th and has been ever since. Only when the next bear cluster is cleared do I consider us long again.
+1

@Nighttrader
ema20 is a pretty poor way of defining a trend. not that it can't help, but relying strictly on it will put you in a position like today - you're just gonna miss things.
big numbers are our friends...
  • #505,458
  • Aug 1, 2011 10:10am Aug 1, 2011 10:10am
NIKKEI reports Japanese intervention!? http://www.forexfactory.com/news.php?do=news&id=307191

All aboard the train north?
  • #505,459
  • Aug 1, 2011 10:13am Aug 1, 2011 10:13am
Quoting darimik
big candles depending on what the politicians say, I would say a bounce most likely.. but who knows. I am still holding, and will be holding.. going to get some foods

Attachment
question is how big... 38 is one. where as 78 is another.

Attached Image
  • #505,460
  • Aug 1, 2011 10:13am Aug 1, 2011 10:13am
Quoting Venice
But what do the last 10 days have to do with the price of tea in china?

Point being, try and focus on the most recent waves; As far as I was concerned, the up move 'trend' was done on the 27th and has been ever since. Only when the next bear cluster is cleared do I consider us long again.
Yea I agree the recent waves in hourly could be taken as a trend down at around 27th but for me after fridays big shots up it realy does not feels bear anymore.
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