it seems like its heading north, beyond .3450, at least for short term... not sure though...
As Above, So Below
- #901
- Oct 6, 2011 8:35pm Oct 6, 2011 8:35pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #902
- Oct 6, 2011 8:59pm Oct 6, 2011 8:59pm
- | Joined Nov 2007 | Status: Trader | 1,142 Posts
/ ... clarifying decisions ... /
- #903
- Oct 6, 2011 9:13pm Oct 6, 2011 9:13pm
- Joined Jun 2011 | Status: Scratching my head. | 3,577 Posts | Online Now
Kill the ego, or it will kill the mission.
- #904
- Oct 6, 2011 9:29pm Oct 6, 2011 9:29pm
- Joined Jun 2011 | Status: Scratching my head. | 3,577 Posts | Online Now
Kill the ego, or it will kill the mission.
- #905
- Oct 6, 2011 9:40pm Oct 6, 2011 9:40pm
- Joined Jun 2011 | Status: Scratching my head. | 3,577 Posts | Online Now
Kill the ego, or it will kill the mission.
- #906
- Oct 6, 2011 10:57pm Oct 6, 2011 10:57pm
- | Joined Aug 2011 | Status: Trader | 1,118 Posts
I will wait for the NFP tomorrow to know what is likely to happen in the markets for the mid-term.
Off to sleep
Pbh
Off to sleep
Pbh
Good morning to all. Here in Europe is nice morning. Not so good like news from yesterdays ECB on Bloomberg but nice.
Still waiting for short position.
Really nice channel is formed:
Attachment
Still waiting nice red candle on THV h4 for short position.
Attachment
Anybody?
Short Euro and remaining that way. That's just the way it is !
One more thing. I watched closely this eurusd up channel. As you know my best fibo zone or point of return is 61.8 on this pair. Look this little retrace in the channel:
And not only fibo zone, also stoch, rsi and MACD shown entry point, after that pair made 200 pips in just few hours. This is astonishing.
And not only fibo zone, also stoch, rsi and MACD shown entry point, after that pair made 200 pips in just few hours. This is astonishing.
- #910
- Oct 7, 2011 1:54am Oct 7, 2011 1:54am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #911
- Oct 7, 2011 1:55am Oct 7, 2011 1:55am
Hi!
Hope everyone is ready for the NFP ride today (or do like I, stay out).
Retraces is an area where I'm lacking a lot of knowledge
I have some questions about retraces:
- How do we know its a retrace and not a bump?
- How do we now that we are in a retrace now (EUR/USD) and not a trend change?
- When do retraces occur and why?
- How far in the "wrong" direction is a retrace going?
No easy questions and I don't need an exact answer, but how do you do to determine the things above? Fibs, Indices, Trendchannels?
Thanks in advance
Hope everyone is ready for the NFP ride today (or do like I, stay out
).Retraces is an area where I'm lacking a lot of knowledge
I have some questions about retraces:
- How do we know its a retrace and not a bump?
- How do we now that we are in a retrace now (EUR/USD) and not a trend change?
- When do retraces occur and why?
- How far in the "wrong" direction is a retrace going?
No easy questions and I don't need an exact answer, but how do you do to determine the things above? Fibs, Indices, Trendchannels?
Thanks in advance
- #912
- Oct 7, 2011 2:08am Oct 7, 2011 2:08am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Hi!
Hope everyone is ready for the NFP ride today (or do like I, stay out
Retraces is an area where I'm lacking a lot of knowledge
I have some questions about retraces:
- How do we know its a retrace and not a bump?
- How do we now that we are in a retrace now (EUR/USD) and not a trend change?
- When do retraces occur and why?
- How far in the "wrong" direction is a retrace going?
No easy questions and I don't need an exact answer, but how do you do to determine the things above? Fibs, Indices, Trendchannels?
Thanks in advance...
One of the ways (there are others) to identify a retrace is with Fib lines.
Typically a retrace will only do 61.8% of a move. However, it can do 100% also. 100% is considered double top (or double bottom depending on the direction of course)
Basically until price exceeds 100% of the original move, it is still a retrace. Over 100% it is considered a reversal when it also has a reversal pattern with it. However, both retraces and reversals mean nothing because they can still quickly change direction. You don't really know 100% until it is done. That is why technicals alone only give you probabilities based on past results.
To put more certainty (but still not 100%) you have to also do fundamental analysis and measure market sentiment.
Hope this helps.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
- #913
- Oct 7, 2011 2:18am Oct 7, 2011 2:18am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
One more thing. I watched closely this eurusd up channel. As you know my best fibo zone or point of return is 61.8 on this pair. Look this little retrace in the channel:
Attachment
And not only fibo zone, also stoch, rsi and MACD shown entry point, after that pair made 200 pips in just few hours. This is astonishing.
This should be a very interesting day.
It seems to me that the market is ignoring the fundamentals in Europe and instead listening to the politicians with their empty words.
Maybe the politicians told the big banks (who do most of the trading) that if they do not support the euro, they will not get bailout funds
I know that's ridiculous but it was fun to think it Anyway, we shall see what happens.
Cheers
PT
Those who say it cannot be done should not interrupt those who are doing it
Good morning mk,
This should be a very interesting day.
It seems to me that the market is ignoring the fundamentals in Europe and instead listening to the politicians with their empty words.
Maybe the politicians told the big banks (who do most of the trading) that if they do not support the euro, they will not get bailout funds
Anyway, we shall see what happens.
Cheers
PT
Politicians and banks, not so good combination but politicians are everywhere so we have to live with them in harmony.
- #915
- Oct 7, 2011 2:32am Oct 7, 2011 2:32am
- Joined Jul 2008 | Status: "Not all information is beneficial. | 1,724 Posts
Swede,
Here is a link for quick summary of Fibs and retrace
http://www.elliottwave.com/freeupdat...Fibonacci.aspx
Or go here for basic explanations of anything you might want to know
http://www.babypips.com/school/
Hope these help.
Here is a link for quick summary of Fibs and retrace
http://www.elliottwave.com/freeupdat...Fibonacci.aspx
Or go here for basic explanations of anything you might want to know
http://www.babypips.com/school/
Hope these help.
- #916
- Oct 7, 2011 2:32am Oct 7, 2011 2:32am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #917
- Oct 7, 2011 2:38am Oct 7, 2011 2:38am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #918
- Oct 7, 2011 2:42am Oct 7, 2011 2:42am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
Those who say it cannot be done should not interrupt those who are doing it
- #919
- Oct 7, 2011 2:45am Oct 7, 2011 2:45am
- Joined Aug 2011 | Status: Trader | 10,724 Posts
piptrapper, go look in my thread, check out last 2 pages.
some idiot came rolling in .
go check it out
some idiot came rolling in .
go check it out
Have I got something on my face, SOLDIER?
- #920
- Oct 7, 2011 2:46am Oct 7, 2011 2:46am
Ok, so my own little analysis is this
The yellow is a time of consolidation and the breakout (light blue) is where the trend started.
During the trend we have had 3 major consolidations.
The first one reach the 38.2 Fib line
The second reached the 23.6 and some
The one where in now is at the 23.6
All fibs measured from the 1.45XX where we started to go down.
I believe that as long as we are not going over the 50% fib the trend is intact which means that we could go as high up as 1.3826 (which is about the middle of last months momentum candle).
We don't have rejection/reversal patterns on weekly yet (not closed), Even though a nice hammer could be forming this week (as well as an engulfing or doji). Don't think the bears like that.
If you look at the time when we went down from 1.6 to 1.234 we never had a bull reversal candle pattern on the weekly. But then again I don't believe this is a level to fail at.
Will just have to wait for this weeks close until reassessing I guess
The yellow is a time of consolidation and the breakout (light blue) is where the trend started.
During the trend we have had 3 major consolidations.
The first one reach the 38.2 Fib line
The second reached the 23.6 and some
The one where in now is at the 23.6
All fibs measured from the 1.45XX where we started to go down.
I believe that as long as we are not going over the 50% fib the trend is intact which means that we could go as high up as 1.3826 (which is about the middle of last months momentum candle).
We don't have rejection/reversal patterns on weekly yet (not closed), Even though a nice hammer could be forming this week (as well as an engulfing or doji). Don't think the bears like that.
If you look at the time when we went down from 1.6 to 1.234 we never had a bull reversal candle pattern on the weekly. But then again I don't believe this is a level to fail at.
Will just have to wait for this weeks close until reassessing I guess
Hi Swede,
One of the ways (there are others) to identify a retrace is with Fib lines.
Typically a retrace will only do 61.8% of a move. However, it can do 100% also. 100% is considered double top (or double bottom depending on the direction of course)
Basically until price exceeds 100% of the original move, it is still a retrace. Over 100% it is considered a reversal when it also has a reversal pattern with it. However, both retraces and reversals mean nothing because they can still quickly change direction. You don't really know 100% until it is...