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  • #556,861
  • Nov 1, 2011 7:42pm Nov 1, 2011 7:42pm
Quoting Kowalczyk
I have no idea what chart you are looking at. My chart shows a higher USD/CAD and a higher MACD. There is however divergence on the eur/usd 1 h chart.
i use MACD (12, 26, 9)..
i can see the MACD for EU 1h also goes higher and higher, however, EU did not create lower low after 1.3609
  • #556,862
  • Nov 1, 2011 7:46pm Nov 1, 2011 7:46pm
Quoting Yuchen
i use MACD (12, 26, 9)
Yes, me too. You see that in the EUR/USD chart, every time EUR/USD hits a new low, the MACD fails to make a new low. That is MACD divergence.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.png Size: 191 KB


But with the usd/cad, the MACD is making new highs along with the currency.

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 192 KB
  • #556,863
  • Nov 1, 2011 7:49pm Nov 1, 2011 7:49pm
Tuesday's daily profits:

Mid-day: +800
End of day: -150

Me right now:
Attached Image
  • #556,864
  • Nov 1, 2011 7:50pm Nov 1, 2011 7:50pm
i gave up using these indicators, not much of help. candlstick chart, PA and fibonachi could do it
As Above, So Below
  • #556,865
  • Nov 1, 2011 7:52pm Nov 1, 2011 7:52pm
Quoting tashkent
i gave up using these indicators, not much of help. candlstick chart, PA and fibonachi could do it
Yeah, me too. I usually just use PA. But its good to know divergence is on your side when you take a trade.
  • #556,866
  • Nov 1, 2011 7:56pm Nov 1, 2011 7:56pm
A semi-triangle forming on the 5 min. Breakout is imminent.

Update: Just as I posted, it broke to the upside.
  • #556,867
  • Nov 1, 2011 8:03pm Nov 1, 2011 8:03pm
Quoting Kowalczyk
A semi-triangle forming on the 5 min. Breakout is imminent.

Update: Just as I posted, it broke to the upside.
i was waiting for this moment, how could i miss that... you have the intuition, my friend
As Above, So Below
  • #556,868
  • Nov 1, 2011 8:04pm Nov 1, 2011 8:04pm
Quoting Nik655
Tuesday's daily profits:

Mid-day: +800
End of day: -150

Me right now:
Commiserations. What happened?

Olu
If you think you can or cannot do it you are correct
  • #556,869
  • Nov 1, 2011 8:12pm Nov 1, 2011 8:12pm
Quoting Nik655
Tuesday's daily profits:

Mid-day: +800
End of day: -150

Me right now:
part of the game , i made wrong order (human error - wrong script), i had chance to exit with -$56 (spread) but, i was greedy end up with SL
Mohan
  • #556,870
  • Nov 1, 2011 8:14pm Nov 1, 2011 8:14pm
http://2.bp.blogspot.com/-9D-66iujcx...%2Bpending.gif


TheTrad3r
  • #556,871
  • Nov 1, 2011 8:17pm Nov 1, 2011 8:17pm
Quoting Kowalczyk
Yes, me too. You see that in the EUR/USD chart, every time EUR/USD hits a new low, the MACD fails to make a new low. That is MACD divergence.

Attachment

But with the usd/cad, the MACD is making new highs along with the currency.

Attachment
oh, actually, we are using the same broker and we have same chart.. but i think we have different opinion in our understanding for MACD..
in my opinion, regards on the USD/CAD 10 hours ago, the price was 1.0208 and after that, the MACD bar keep going to form lower red even though it hit 1.0216 4 hours ago and 1.0223 3 hours ago, MACD keeps forming lower red bar and it is turns to negative just now... there is also a potential that MACD will form a dead cross while MA is still above the golden cross yet... If by any chances this pair will try to test 1.0264 and MACD still forms red bar, i will take a small short.
  • #556,872
  • Nov 1, 2011 8:21pm Nov 1, 2011 8:21pm
Quoting mohan76
part of the game , i made wrong order (human error - wrong script), i had chance to exit with -$56 (spread) but, i was greedy end up with SL
not too bad... we are human being but as long as you make a s/l it is fine, you will earn back them..
i had a horrible experience when i just started to trade... i remembered i randomly made a trade and i was losing around 100 pips ( i didnt use s/l as a beginner), the market give me 3 chances that i could escape with around 15 pips lose but i was waiting for positive pip... and eventually, market went on the other side and i started to add more and more and when i was losing and after 3 days i lost all my money..
  • #556,873
  • Nov 1, 2011 8:23pm Nov 1, 2011 8:23pm
Quoting Yuchen
oh, actually, we are using the same broker and we have same chart.. but i think we have different opinion in our understanding for MACD..
in my opinion, regards on the USD/CAD 10 hours ago, the price was 1.0208 and after that, the MACD bar keep going to form lower red even though it hit 1.0216 4 hours ago and 1.0223 3 hours ago, MACD keeps forming lower red bar and it is turns to negative just now... there is also a potential that MACD will form a dead cross while MA is still above the golden cross yet... If by any chances this pair will try to...
I have never seen MACD used that way but anyways, good luck to ya. If USD/CAD falls, EUR/USD should rise and we will both be happy.
  • #556,874
  • Nov 1, 2011 8:26pm Nov 1, 2011 8:26pm
Quoting Yuchen
not too bad... we are human being but as long as you make a s/l it is fine, you will earn back them..
i had a horrible experience when i just started to trade... i remembered i randomly made a trade and i was losing around 100 pips ( i didnt use s/l as a beginner), the market give me 3 chances that i could escape with around 15 pips lose but i was waiting for positive pip... and eventually, market went on the other side and i started to add more and more and when i was losing and after 3 days i lost all my money..
I'd be lying if I said that did not happen to me too.
  • #556,875
  • Nov 1, 2011 8:30pm Nov 1, 2011 8:30pm
Closed long and entered a short term short.
  • #556,876
  • Nov 1, 2011 8:33pm Nov 1, 2011 8:33pm
Quoting Kowalczyk
I'd be lying if I said that did not happen to me too.
ya, we are always learning our mistakes...
by the way, how come you use OANDA broker but you dont have any funds in there? do you just use their broker because you like their chart??? or do you use photoshop to erase the information because you do not want people see your personal account information
  • #556,877
  • Nov 1, 2011 8:37pm Nov 1, 2011 8:37pm
Quoting Yuchen
ya, we are always learning our mistakes...
by the way, how come you use OANDA broker but you dont have any funds in there? do you just use their broker because you like their chart??? or do you use photoshop to erase the information because you do not want people see your personal account information
I have sub-accounts. Because I do not want to show my balance info, I just switch to a sub-account with no money in it before taking a screenshot.
  • #556,878
  • Nov 1, 2011 8:38pm Nov 1, 2011 8:38pm
Quoting mohan76
part of the game , i made wrong order (human error - wrong script), i had chance to exit with -$56 (spread) but, i was greedy end up with SL
i hope you did not lose too much. the same thing happened to me today, i got away with 40$ loss, however, the trend reversed after 15 minutes. that's why the entry is one of the most important things in this business, especially when you trade with standard or mini account.
As Above, So Below
  • #556,879
  • Nov 1, 2011 8:57pm Nov 1, 2011 8:57pm
Well I just wrote this up, I guess I'll post it here for what it's worth. So I was looking at my 1H chart given this recent price consolidation to see if I could find any indication as to where the price might be going next. It's starting to look to me like an Elliott 5 wave pattern with an ABC correction wave. The chart attached shows the impulse waves 1,3,5 pretty clean and in line with what one might expect of such an impulsive move in the market with the 2,4 waves as correction/consolidation in between. At the bottom we can see the beginning of an ABC correction wave where price remains rangebound for a short time tracing up and down before the market sets up for the next impulsive move. There's no real telling how long this correction could go on or the price targets in it as it doesn't always behave perfectly. Currently, if price breaks above the trend line consolidation on the 15M chart I'm anticipating a climb to somewhere close to 1.3750 before the next wave down in this consolidation or the next move taken by the market. A clean break above opens up the area I've marked in blue to the topside as a possible decision area while a break to the downside puts the possibility of 1.3650x on the table for the third time in the last 24 hours or so. Price is currently fighting around the 38.2% fib level and the trend lines I've drawn have the most recent high as their intersection. The correction wave will not necessarily break to point C on the chart given that the B wave down made a higher low than the daily low for today. We may be approaching a consolidating triangle formation with these corrective waves indicating a possible continuation pattern for the rest of the week. If this flag is broken we might see stronger downside movement, especially with the news rumors that the Greek cabinet voted unanimously to back the PM on his referendum decision. This is also in line with current market futures which are at -137 on the DJ EURO, -331 on the DAX, -1,094 on the FTSE, and -140 on the SWISS. Time will tell with this pair and I'll be watching closely to see how the scenario plays out with my analysis.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ellioteur15m.gif Size: 45 KB
Click to Enlarge Name: ellioteur.gif Size: 43 KB
  • #556,880
  • Nov 1, 2011 9:02pm Nov 1, 2011 9:02pm
Quoting Kowalczyk
Closed long and entered a short term short.
Closed my short for a small loss and re-entered my long. The price action really needs to make up its decision.
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