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  • #8,641
  • Dec 6, 2011 4:59am Dec 6, 2011 4:59am
Quoting T@rantula
E:3388
S:3369
TP: by levels
Closed all +22
  • #8,642
  • Dec 6, 2011 5:01am Dec 6, 2011 5:01am
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  • #8,643
  • Dec 6, 2011 5:28am Dec 6, 2011 5:28am
Bearish divergence on STO indicates further continuation of bear trend on DAILY chart.

Hope u made money with intraday levels...now,

As long as the price is capped below 3490 on daily TF main targets are 3350 3280 3220

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  • #8,644
  • Dec 6, 2011 5:46am Dec 6, 2011 5:46am
Quoting T@rantula
Bearish divergence on STO indicates further continuation of bear trend on DAILY chart.

Hope u made money with intraday levels...now,

As long as the price is capped below 3490 on daily TF main targets are 3350 3280 3220

Attachment
what kind of divergence is that tata?
Have I got something on my face, SOLDIER?
  • #8,645
  • Dec 6, 2011 2:23pm Dec 6, 2011 2:23pm
Quoting bumapatria
what kind of divergence is that tata?
Its hidden bearish divergence and it occurs when market is moving downward making lower highs, while indicator ( in this case stochastic) is making higher high.

Hidden divergence usually signals a continuation, for example if u trade on h1 chart and h4 is downtrending, when u spot hidden bearish or bearish divergence on h1 timeframe thats a signal to take a move and trade it.

I usually enter the divergence , make an entry on trendline break, bullish/bearish wedge, stochastic line or eventually ma cross but that is the last option. My favourable entry for confirmed divergence is trendline break.
  • #8,646
  • Dec 7, 2011 1:32am Dec 7, 2011 1:32am
There is fractional disparity between timeframes. h4 shows bullish divergence that is developing, while daily is still hanging on the bearish divergence trendline.

That is a sign that market is trapped in a range without a clear direction.

Levels which should be traded on are:

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Early market shows bullish signs so buy the dips is the option now.
  • #8,647
  • Dec 7, 2011 1:50am Dec 7, 2011 1:50am
Additionally it seems that USDCHF is getting close to 0.9285. I see it as a major intraday resistance. Support is 0.9180 and if the pair closes below 0.9180 that could accelerate its downmove.
  • #8,648
  • Dec 7, 2011 2:08am Dec 7, 2011 2:08am
E:3430
SL:3408
TP:3465-77

May be an aggressive entry though.
  • #8,649
  • Dec 7, 2011 2:33am Dec 7, 2011 2:33am
Quoting T@rantula
E:3430
SL:3408
TP:3465-77

May be an aggressive entry though.
Scaling out 3450
+20
  • #8,650
  • Dec 7, 2011 2:44am Dec 7, 2011 2:44am
I think TA is out by the window because of news/fundies driven action (and iot has been for a while this year). No clear trend yet - waiting for Friday to see if politicians can sort out a deal for Euro...
I'm considering stopping trading for this year and resuming mid-January now.


Quoting T@rantula
There is fractional disparity between timeframes. h4 shows bullish divergence that is developing, while daily is still hanging on the bearish divergence trendline.

That is a sign that market is trapped in a range without a clear direction.

Levels which should be traded on are:

Attachment

Early market shows bullish signs so buy the dips is the option now.
  • #8,651
  • Dec 7, 2011 2:53am Dec 7, 2011 2:53am
Quoting BrunargarFx
I think TA is out by the window because of news/fundies driven action (and iot has been for a while this year). No clear trend yet - waiting for Friday to see if politicians can sort out a deal for Euro...
I'm considering stopping trading for this year and resuming mid-January now.
Try to go for short trades. +15-20 pips then scale out, do it for 2 times a day and you are done.

You are right, its hard to catch real moves now as TA is basically under pressure from fundies.

Still go with levels it can be done with 20 pips per day. Friday is important yes, after that we may see some volatility but the real trading will resume after holidays.
  • #8,652
  • Dec 7, 2011 3:03am Dec 7, 2011 3:03am
Basically what i do is calculate the levels before London, then apply it to the charts. After that I spot momentum, also divergences give way to early direction.

This is clearly an indecisive market as we have Bullish and Bearish divergence CONVERGING on h4 and daily.

Drawing trendlines is of importance then. Forget Elliot, and other predictive methods in this market. When we have a fundie driven market on low volatility you have 2 options- scalp or cease to trade. At the time being I see that 3445 is important level for bulls to hold. In normal situations that would provide a bullish support.

So we have all important Intraday levels I have mentioned above and H4 important level 3445. The best way to earn money now is by scalping as I mentioned above.

Use the levels which I post, you ll be fine.
  • #8,653
  • Dec 7, 2011 3:06am Dec 7, 2011 3:06am
Quoting T@rantula
Scaling out 3450
+20
Total +20 as other part hit BE.
  • #8,654
  • Edited 3:35am Dec 7, 2011 3:09am | Edited 3:35am
Selling EU now.

E:3426
S:3456
TP:3380
  • #8,655
  • Dec 7, 2011 3:16am Dec 7, 2011 3:16am
Testing Channel ..........
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  • #8,656
  • Dec 7, 2011 3:24am Dec 7, 2011 3:24am
Quoting Munal
Testing Channel ..........
Yes mate, and since we are having a range it should be broken, we broke below median should be going lower, still it might be an aggressive entry due to lower volatility.
  • #8,657
  • Dec 7, 2011 3:31am Dec 7, 2011 3:31am
Quoting T@rantula
Selling EU now.

E:3326
S:3356
TP:3380
3426 and 3456 ?
  • #8,658
  • Dec 7, 2011 3:33am Dec 7, 2011 3:33am
Quoting MJurban
3426 and 3456 ?
Yes sorry, Ill correct that.
  • #8,659
  • Dec 7, 2011 3:34am Dec 7, 2011 3:34am
ultimately mate expecting for a test of upper daily TL
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  • #8,660
  • Dec 7, 2011 3:40am Dec 7, 2011 3:40am
A good momentum is required otherwise SL could be hunted
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