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  • #579,001
  • Jan 2, 2012 1:19pm Jan 2, 2012 1:19pm
Market has reached EURGBP 0.8329---I will look for {EURUSDslightly less then} and GBPUSD both buys with GBP having more movement up for now---tight 20pip stops from entries

Closed sells on EU@ 1.2922
STILL IN GBPUSD BUY @ 1.5485



Quoting 4XMASTER4x
Still locked in onEU sell--Taking a BUY on GBPUSD @ 1.5485-
EURGBP has a PRICE GAP around 0.8329
look for EUR to weaken more then GBP--
QUOTED Jan 2, 2012 10:07am (4 hr ago)
Attached Image (click to enlarge)
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  • #579,002
  • Jan 2, 2012 1:23pm Jan 2, 2012 1:23pm
the market movements form an indicator. it might not be "trending" or be of significance by it's self. but it is used with other indicators for crossovers and support/resistance and divergence and as such is seen as an indicator its self. This indicator is price action.
  • #579,003
  • Jan 2, 2012 1:46pm Jan 2, 2012 1:46pm
USDX draw bearish pattern...
So bounce of eurusd is close:>we will see
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  • #579,004
  • Jan 2, 2012 1:52pm Jan 2, 2012 1:52pm
Same view sir just waiting on 1.2930 on my chart above to BREAK then Rally more
Quoting boy
USDX draw bearish pattern...
So bounce of eurusd is close:>we will see
  • #579,005
  • Jan 2, 2012 2:03pm Jan 2, 2012 2:03pm
Not sure if comment is in reference to my chart above or another comment but I just wanted to comment-I do not use trends or trendlines lines on my chart are just to point to comments it may look like a trendline.There are ALOT of other indicators out there I only use SMA's, Price Action, Fundmentals, Candle Sticks, Supports and Resistances n PRICE Gaps

Quoting werido
the market movements form an indicator. it might not be "trending" or be of significance by it's self. but it is used with other indicators for crossovers and support/resistance and divergence and as such is seen as an indicator its self. This indicator is price action.
  • #579,006
  • Jan 2, 2012 2:07pm Jan 2, 2012 2:07pm
Quoting Chanya
So when you say you use trend lines and stuff like that , how would you figure out what level will hold and what will be broken ???
Well, Trend Lines are useful because they determine the speed of the trend.

They can be steep or less steep. When they are very steep they tend to redraw to a more moderate TL, normally at 45 degree.

When price pull back to the TL also tend to pull back to a level of Fibonacci retracement.

You will not know where the TL will hold, but Price Action will help.

Let say prices pulls back to a down TL, breaks it and looks like prices are going upwards, but then forms a bearish pin bar or a bearish engulfing pattern and closes below the down TL that have previously broken. A failed break out. Well that is indication that price are going to be hold at that bounce and we may be in a position to pocket out our profits before prices comes back to our protective stop. Does it work all the time? No way. But will work enough for you to became a decent trader if MM is taken into considerations.

I suggest that you read TA of the financial Markets by John Murphy.

I also suggest that you use TA on a smaller time frame (5M) and only on one instrument, so you learn quickly and became familiar with what you are trading.
Beauty awakens the soul to act. Dante Alighieri
  • #579,007
  • Jan 2, 2012 2:11pm Jan 2, 2012 2:11pm
Hello guys,
I want to inform everyone that i start again with my small group of traders and for more details about group you can see >

http://www.forexfactory.com/showthre...267631&page=57

Cheers
Petar
"Buy on fear, sell on greed !!!
  • #579,008
  • Jan 2, 2012 2:24pm Jan 2, 2012 2:24pm
Quoting Chanya
There is this word I Hear so frequently ....What was that word again ...HHMMM...AAhHH... OOHH it was PRICE ACTION !!!! Can some body tell me that pattern and candle stick patterns and trend lines are known as price action or is there something more to that term as well ??? If there is , where is it taught ???
"Reading Price Charts Bar by Bar"
The Technical Analysis of Price Action for the serious Trader.

By Al Brooks.
Beauty awakens the soul to act. Dante Alighieri
  • #579,009
  • Jan 2, 2012 2:25pm Jan 2, 2012 2:25pm
EUR/AUD has hit an almost decade low it looks from the chart.

Exhibiting what looks to me like some bottoming characteristics with the flattening out of the price action on the intraday's


Does anyone on the board trade or have any thoughts on EUR/AUD?
  • #579,010
  • Jan 2, 2012 2:31pm Jan 2, 2012 2:31pm
Quoting Chanya
There is this word I Hear so frequently ....What was that word again ...HHMMM...AAhHH... OOHH it was PRICE ACTION !!!! Can some body tell me that pattern and candle stick patterns and trend lines are known as price action or is there something more to that term as well ??? If there is , where is it taught ???

http://thepatternsite.com/visualcpindex.html
  • #579,011
  • Jan 2, 2012 2:35pm Jan 2, 2012 2:35pm
I don't trade this pair, but it could help you to also have a look at EUR/JPY and AUD/JPY (or USD crosses) to try get a feel for what each currency is really doing and to help you judge where a bottom could be.


Quoting todstars2
EUR/AUD has hit an almost decade low it looks from the chart.

Exhibiting what looks to me like some bottoming characteristics with the flattening out of the price action on the intraday's


Does anyone on the board trade or have any thoughts on EUR/AUD?
  • #579,012
  • Jan 2, 2012 2:42pm Jan 2, 2012 2:42pm
Had a quick look at EUR/AUD this type of bear trend carries on forever until it turns.

Quoting Ultimate6
I don't trade this pair, but it could help you to also have a look at EUR/JPY and AUD/JPY (or USD crosses) to try get a feel for what each currency is really doing and to help you judge where a bottom could be.
  • #579,013
  • Jan 2, 2012 2:43pm Jan 2, 2012 2:43pm
I will look for EUR/AUD to Sell Now @ 1.2645-Stop @ 1.2666--small stop because a BREAK above 1.2667 Voids sells and RANGED BUYS will be in play
EUR is still weak but has filled gap and has a retracement on EURGBP from my prior post---Also the AUD is stronger to where it will help sell on EURAUD--You want a chart?

Quoting todstars2
EUR/AUD has hit an almost decade low it looks from the chart.

Exhibiting what looks to me like some bottoming characteristics with the flattening out of the price action on the intraday's


Does anyone on the board trade or have any thoughts on EUR/AUD?
  • #579,014
  • Jan 2, 2012 2:54pm Jan 2, 2012 2:54pm
Quoting todstars2
EUR/AUD has hit an almost decade low it looks from the chart.

Exhibiting what looks to me like some bottoming characteristics with the flattening out of the price action on the intraday's


Does anyone on the board trade or have any thoughts on EUR/AUD?
I think I will follow the system signal and stick with the trade NEXT time !!!

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It takes a lot for me to IGNORE you, but you can try.
  • #579,015
  • Jan 2, 2012 2:55pm Jan 2, 2012 2:55pm
What gap?

Quoting 4XMASTER4x
I will look for EUR/AUD to Sell Now @ 1.2645-Stop @ 1.2666--small stop because a BREAK above 1.2667 Voids sells and RANGED BUYS will be in play
EUR is still weak but has filled gap and has a retracement on EURGBP from my prior post---Also the AUD is stronger to where it will help sell on EURAUD--You want a chart?
  • #579,016
  • Jan 2, 2012 3:00pm Jan 2, 2012 3:00pm
It was on a 1min Chart I can't pull history and post chart because my chart wont go back that far sucks --Also Lockin on EURAUD sell post + around 16pips now
Quoting Ultimate6
What gap?
  • #579,017
  • Jan 2, 2012 3:04pm Jan 2, 2012 3:04pm
I think I can see what you mentioned, but it's 0.00002 diff between M1 candles high/low?

Quoting 4XMASTER4x
It was on a 1min Chart I can't pull history and post chart because my chart wont go back that far sucks --Also Lockin on EURAUD sell post + around 16pips now
  • #579,018
  • Jan 2, 2012 3:12pm Jan 2, 2012 3:12pm
You might see another small gap which still is valid and useful-- but my gap is OLD around 7-9hrs

Quoting Ultimate6
I think I can see what you mentioned, but it's 0.00002 diff between M1 candles high/low?

http://www.forexfactory.com/images/s...n/post_old.gif Jan 2, 2012 10:07am (6 hr ago)
Quoting 4XMASTER4x
Still locked in onEU sell--Taking a BUY on GBPUSD @ 1.5485-
--EURGBP has a PRICE GAP around 0.8329
look for EUR to weaken more then GBP--
  • #579,019
  • Jan 2, 2012 3:25pm Jan 2, 2012 3:25pm
Quoting Erebus
I think I will follow the system signal and stick with the trade NEXT time !!!


nice long run to miss....
  • #579,020
  • Jan 2, 2012 3:32pm Jan 2, 2012 3:32pm
Quoting 4XMASTER4x
I will look for EUR/AUD to Sell Now @ 1.2645-Stop @ 1.2666--small stop because a BREAK above 1.2667 Voids sells and RANGED BUYS will be in play
EUR is still weak but has filled gap and has a retracement on EURGBP from my prior post---Also the AUD is stronger to where it will help sell on EURAUD--You want a chart?

@Ultimate6 and 4xmaster

thanks for your input guys.

posting that chart you(4x) mentioned would be cool. I use them for analysis exclusively and always appreciate others thoughts on the current pattern setups.

That said, this market is BORING as hell with the holidays still in effect. Maybe we will start to see some action pick up over night as asia opens....

We can only hope.
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