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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #4,961
  • Oct 25, 2011 2:50am Oct 25, 2011 2:50am
potential reserve requirement ratio cut by the PBOC - unconfirmed
  • #4,962
  • Oct 25, 2011 3:03am Oct 25, 2011 3:03am
I believe that we use the 4H charts slightly different. I use them for drawing trendlines and finding historical S/Rs. The trendlines come up almost the same if I use different timezones. However the S/R are different.
See http://www.forexfactory.com/showthre...73#post4392273
Because of that I use london time to find the S/Rs. I also dont trade patterns on H4. Take entries on lower timeframes

Quoting PipTrapper
Hi Swede,

I will answer all your excellent questions with one statement...

Since I look mostly at the macro picture for forecasting and only look at micro to choose entries/exits, the slight differences in the H4 and daily/weekly due to different time zones between brokers does not impact my analysis either way. For example, a candle close with a short wick on one time zone, if it is a turning point will show on the other time zone with a longer wick (or vice versa). If I only had the short wick candle to look at, I may not immediately recognize...
  • #4,963
  • Oct 25, 2011 3:06am Oct 25, 2011 3:06am
I was just reading about that Consumer confidence numbers in US, which should come out today and FF servers marked em as red = important ones. And I found a funny description, which I attach below:

"Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation;"

Lol to 5000 households. This statistic number surely isnt manipulative at all.

T
"I know one thing, that I know nothing." Sokrates
  • #4,964
  • Oct 25, 2011 3:07am Oct 25, 2011 3:07am
Quoting Pbh
.
I am waiting for that one, but this thing keeps climbing
  • #4,965
  • Oct 25, 2011 3:11am Oct 25, 2011 3:11am
Quoting beyond
I am waiting for that one, but this thing keeps climbing
Obviously, evil EURUSD hunts for stops... as always. Mine got hit and immediately price started jumping up, up and away (I gave long a chance few hrs ago). This thing doesn't know how to behave
  • #4,966
  • Oct 25, 2011 3:13am Oct 25, 2011 3:13am
Quoting TheSwede
I believe that we use the 4H charts slightly different. I use them for drawing trendlines and finding historical S/Rs. The trendlines come up almost the same if I use different timezones. However the S/R are different.
Hi, just for fun, as I see you are deeply concerned in those trendlines. I used to draw trendlines as well and nowadays, I just cant draw em. Point is, it seems to me those trendlines arent straight at all. I think it is because of computers. Now I draw trendlines only with pencil on a paper, and well, they are very often logharitmic. It just gets closer and closer to some ressistance. Now I focus more on those ressistance levels.

Tom
"I know one thing, that I know nothing." Sokrates
  • #4,967
  • Oct 25, 2011 3:14am Oct 25, 2011 3:14am
Quoting Blobik
Obviously, evil EURUSD hunts for stops... as always. Mine got hit and immediately price started jumping up, up and away (I gave long a chance few hrs ago). This thing doesn't know how to behave
Actually it knows very well how to behave when it is not confused.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,968
  • Oct 25, 2011 3:17am Oct 25, 2011 3:17am
Quoting PipTrapper
Actually it knows very well how to behave when it is not confused.
If you mean "falling", then I hope she will no longer be confused on Wednesday... BTW, when exactly should we expect some info from the Wed summit? If you could give in European time (to be exact mine is GMT+1) I would be grateful
  • #4,969
  • Oct 25, 2011 3:22am Oct 25, 2011 3:22am
Quoting PipTrapper
Actually it knows very well how to behave when it is not confused.
Probably the single most important thing I have learned following PT's thread is that when the market is badly behaved... don't play with it.

It seems to me that when PT is wrong about the EUR/USD going down he is more often than not flat. He gets paid for being right, and gets away scott free when he is wrong.

nothing like waiting for a good entry
Kill the ego, or it will kill the mission.
  • #4,970
  • Oct 25, 2011 3:23am Oct 25, 2011 3:23am
Quoting Tom_D_Trader
Hi, just for fun, as I see you are deeply concerned in those trendlines. I used to draw trendlines as well and nowadays, I just cant draw em. Point is, it seems to me those trendlines arent straight at all. I think it is because of computers. Now I draw trendlines only with pencil on a paper, and well, they are very often logharitmic. It just gets closer and closer to some ressistance. Now I focus more on those ressistance levels.

Tom
Tom, You can draw fanning trend lines. I think it works about the same. And of course an MA is another type of trend line.
Kill the ego, or it will kill the mission.
  • #4,971
  • Oct 25, 2011 3:24am Oct 25, 2011 3:24am
Quoting PipTrapper
Actually it knows very well how to behave when it is not confused.
lol yes you are right PipTrapper when I am right it behaves, when I am wrong its confused
  • #4,972
  • Oct 25, 2011 3:24am Oct 25, 2011 3:24am
Quoting Blobik
If you mean "falling", then I hope she will no longer be confused on Wednesday... BTW, when exactly should we expect some info from the Wed summit? If you could give in European time (to be exact mine is GMT+1) I would be grateful
As evidenced by the past summits and meetings, that is something nobody really knows. You will just have to stay tuned to CNBC or Bloomberg TV.

I am considering just placing a sell limit order at 1.4010 but have not decided yet. Since I will be glued to the TV tomorrow, I may just watch price action instead.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,973
  • Oct 25, 2011 3:30am Oct 25, 2011 3:30am
Quoting Blobik
If you mean "falling", then I hope she will no longer be confused on Wednesday... BTW, when exactly should we expect some info from the Wed summit? If you could give in European time (to be exact mine is GMT+1) I would be grateful
Lol Blobik you lazy lazy man. First of all, switching between timezones is essential while trading.

So here is nice site:
http://www.timeanddate.com/worldclock/

Second of all, PipTrapper is from almost same timezone, GMT+2.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,974
  • Oct 25, 2011 3:32am Oct 25, 2011 3:32am
Quoting beyond
lol yes you are right PipTrapper when I am right it behaves, when I am wrong its confused

Good one Beyond. That's exactly what I meant
I see it that way because I trade based on Technicals and Fundies lining up in the same direction. Therefore, when price does not behave accordingly, it is obviously confused
Those who say it cannot be done should not interrupt those who are doing it
  • #4,975
  • Oct 25, 2011 3:33am Oct 25, 2011 3:33am
Quoting Tom_D_Trader
Lol Blobik you lazy lazy man. First of all, switching between timezones is essential while trading.

So here is nice site:
http://www.timeanddate.com/worldclock/

Second of all, PipTrapper is from almost same timezone, GMT+2.

T.
Correct

ADD: So is Blobik. Poland is GMT+2 (CET) Central European Time. However, CET will soon be GMT+1 when the Daylight Savings Time comes to an end.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,976
  • Oct 25, 2011 3:33am Oct 25, 2011 3:33am
Thanks for you concern .
I draw them, but very seldom use them for taking a trade, and never at a break of a trendline. I like PA at SRs better. Then I can set up scenarios based on if an SR is broken or rejected.

Quoting Tom_D_Trader
Hi, just for fun, as I see you are deeply concerned in those trendlines. I used to draw trendlines as well and nowadays, I just cant draw em. Point is, it seems to me those trendlines arent straight at all. I think it is because of computers. Now I draw trendlines only with pencil on a paper, and well, they are very often logharitmic. It just gets closer and closer to some ressistance. Now I focus more on those ressistance levels.

Tom
.
  • #4,977
  • Oct 25, 2011 3:35am Oct 25, 2011 3:35am
Quoting AaronWard
Tom, You can draw fanning trend lines. I think it works about the same. And of course an MA is another type of trend line.
I just wish you could see charts I have at home. It is not that easy even with fanning trend lines. I just dont trust to trendlines at all. Just S/R. I think trendlines are moving towards those S/R (aka trianguloid patterns etc). But If you draw it with pencil, you shall see its logharitmic shape and set S/R much more precisely. There are simply not enough shapes in MT4 since trendlines are created with investor crowd behaviour combined with computer setups. And I dont think these move in straight lines.

T.
"I know one thing, that I know nothing." Sokrates
  • #4,978
  • Oct 25, 2011 3:41am Oct 25, 2011 3:41am
Quoting Tom_D_Trader
I just wish you could see charts I have at home. It is not that easy even with fanning trend lines. I just dont trust to trendlines at all. Just S/R. I think trendlines are moving towards those S/R (aka trianguloid patterns etc). But If you draw it with pencil, you shall see its logharitmic shape and set S/R much more precisely. There are simply not enough shapes in MT4 since trendlines are created with investor crowd behaviour combined with computer setups. And I dont think these move in straight lines.

T.
Stick with that Tom.. You're thinking in the right direction.
Confluence (where multiple indicators line up at the same price) is key to successful trading.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,979
  • Oct 25, 2011 3:44am Oct 25, 2011 3:44am
Quoting Tom_D_Trader
I just wish you could see charts I have at home. It is not that easy even with fanning trend lines. I just dont trust to trendlines at all. Just S/R. I think trendlines are moving towards those S/R (aka trianguloid patterns etc). But If you draw it with pencil, you shall see its logharitmic shape and set S/R much more precisely. There are simply not enough shapes in MT4 since trendlines are created with investor crowd behaviour combined with computer setups. And I dont think these move in straight lines.

T.
I find channels are one of the most important tools.

Certain types of trend lines are very important. Not in that they exist so much as you need to pay attention when they are broken.

I find that if you draw a trend line, and PA moves off of them in a logarithmic fashion... when it starts to get vertical (or cross the outside channel line) is when you should get out. Typically it will then fall back to the trend line and you can reenter if you feel so inclined.
Kill the ego, or it will kill the mission.
  • #4,980
  • Oct 25, 2011 3:48am Oct 25, 2011 3:48am
Last week was highly developed and now formed a strong level of 1.3725 - 1.3803. I painted it on the chart. This is the level of the past two weeks, which is actively traded players. I think that if the next few days will be a correction, then this band will keep the bulls. That is what will a good buy for us.

I also noted several second ranges. This is - 1.3575 - 1.3643 1.3899 and - 1.3932. Now the market is trading below the previous volume, if after a few days - the bulls do not overcome these prices, I think we'll see a correction. What do you think?
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