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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #19,961
  • Jan 18, 2012 10:18am Jan 18, 2012 10:18am
...matter of the fact is price is well supported @ 1.28 level ..and no indication for a flat down ... so price is Up to test new high (Why Ty Why ? May be Uncle Kno Knows)
  • #19,962
  • Jan 18, 2012 10:20am Jan 18, 2012 10:20am
Quoting Tyoon
Didn't call them triangles. I didn't call them wedges. It's a compression at supply. Triangle's, wedges and compressions are all pretty much synonymous.
Yes you certainly called it something else........ but you drew a triangle.
I don't care which way the market is going as long as it's going my way
  • #19,963
  • Jan 18, 2012 10:23am Jan 18, 2012 10:23am
Quoting PipKiller
Yes you certainly called it something else........ but you drew a triangle.
I could have called it something like a triangle or wedge but they are just compressions; price waves engulfed by the previous waves - ascending or descending.

Here, Red explains it well in this post:

Quoting redsword11
...........right, lets put an end to whats compression ( otherwise known as a finishing triangle ) and what not compression. Noticed some confusing comments and charts lately with regards to compression. So, below is an entry from the past to clearly identify the PA




Attachment

firstly, we look left and notice a supply zone - supply zone identifed simply by noticing prices fell hard from there before, therefore sellers exceed buyers. Now we wait for PRICE ARRIVAL


Attachment

.......... ok, now price...
  • #19,964
  • Jan 18, 2012 10:23am Jan 18, 2012 10:23am
Quoting rekon67
...matter of the fact is price is well supported @ 1.28 level ..and no indication for a flat down ...
A new 8 Hr Candle .. lets utilize it to close the shorts...
Attached Image
  • #19,965
  • Jan 18, 2012 10:24am Jan 18, 2012 10:24am
..
Attached Image (click to enlarge)
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If there was easy money lying around,no one would be forcing it into your
  • #19,966
  • Edited 10:49am Jan 18, 2012 10:25am | Edited 10:49am
Quoting Tyoon
Didn't call them triangles. I didn't call them wedges. It's a compression at supply. Triangle's, wedges and compressions are all pretty much synonymous.
You are correct Tyoon. It is a compression at supply and as long as supply is not fully absorbed, price will fall and that's usually the case. However, it is 100% correct that a rising triangle is supposed to break to the upside. (except in Forex it tends to follow the general trend regardless of the pattern).

Also in this case, open an H4 chart and draw a 100ema or 100sma and you will see what is really providing the supply. Once you see that chart, post it back here.
Those who say it cannot be done should not interrupt those who are doing it
  • #19,967
  • Jan 18, 2012 10:26am Jan 18, 2012 10:26am
there are a few bearish signs too (other than the fact we are in a strong downward trend)

1. they are the 100 MA which it has failed to break 6 times in the last 6 weeks

2. we are still haven't broken the key daily trendline

3. we are approaching a resistance which PA has failed to break above for some time.

However, I agree, price looks bullish overall. and as I said earlier, I have having bad thoughts about a major TF correction.
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Kill the ego, or it will kill the mission.
  • #19,968
  • Jan 18, 2012 10:30am Jan 18, 2012 10:30am
Quoting PipTrapper
Also in this case, open an H1 chart and draw a 100ema or 100sma and you will see what is really providing the supply. Once you see that chart, post it back here.
I have loads of lines on my other charts from 1H-weekly. I have my UTL, price pivot level and a few other things to show resistance (thus that is why I said we are at a critical level). The chart I posted was a clean temp chart to examine the compression without all the lines everywhere.
  • #19,969
  • Jan 18, 2012 10:30am Jan 18, 2012 10:30am
Okay guys, how about this for you

You say tomato I say love apple!
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  • #19,970
  • Jan 18, 2012 10:33am Jan 18, 2012 10:33am
Quoting Gofer Pips
Okay guys, how about this for you

You say tomato I say love apple!
That's what I call beauty in the eye of the beholder.

beholder=me
Those who say it cannot be done should not interrupt those who are doing it
  • #19,971
  • Jan 18, 2012 10:47am Jan 18, 2012 10:47am
The measured move on an ascending triangle from the breakout is the width of the opening of the triangle. Since it broke to the down side with a width of 70 pips, we can only hope that we head south back to daily pivot at 1.2739.

Crude is taking a nose dive right now.
I observe your reality but live my own.
  • #19,972
  • Jan 18, 2012 10:48am Jan 18, 2012 10:48am
Quoting PipTrapper
That's what I call beauty in the eye of the beholder.

beholder=me
Picture of PT watching Europe
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Click to Enlarge Name: beholder.jpg Size: 305 KB
Kill the ego, or it will kill the mission.
  • #19,973
  • Jan 18, 2012 10:48am Jan 18, 2012 10:48am
This SOB will not go down and stay down!

Inserted Video
  • #19,974
  • Jan 18, 2012 10:51am Jan 18, 2012 10:51am
Quoting Cgb
The measured move on an ascending triangle from the breakout is the width of the opening of the triangle. Since it broke to the down side with a width of 70 pips, we can only hope that we head south back to daily pivot at 1.2739.

Crude is taking a nose dive right now.
http://babypips.cachefly.net/school/...ngle-after.png
Those who say it cannot be done should not interrupt those who are doing it
  • #19,975
  • Jan 18, 2012 10:54am Jan 18, 2012 10:54am
Germany downgraded by Egan Jones from AA to AA-

Source CNBC


EDIT: THE FRIGGIN EURO IS EITHER A ZOMBIE OR A CAT WITH NINE LIVES!
NO MOVEMENT ON CHART AS OF YET
  • #19,976
  • Jan 18, 2012 10:54am Jan 18, 2012 10:54am
Quoting Gofer Pips
This SOB will not go down and stay down!

http://www.youtube.com/watch?v=SwHETnBT1Tw
I observe your reality but live my own.
  • #19,977
  • Jan 18, 2012 10:57am Jan 18, 2012 10:57am
Quoting PipTrapper
http://babypips.cachefly.net/school/...ngle-after.png
Yup, thems the rules in STOCKS not sure about Forex. Still learning the ropes here...
I observe your reality but live my own.
  • #19,978
  • Jan 18, 2012 11:01am Jan 18, 2012 11:01am
Quoting Gofer Pips
Germany downgraded by Egan Jones from AA to AA-

Source CNBC


EDIT: THE FRIGGIN EURO IS EITHER A ZOMBIE OR A CAT WITH NINE LIVES!
NO MOVEMENT ON CHART AS OF YET
Egan Jones has no influence.
Besides, it is the market that decides the ratings and not the rating agencies.
Those who say it cannot be done should not interrupt those who are doing it
  • #19,979
  • Edited 11:04am Jan 18, 2012 11:01am | Edited 11:04am
Both are in the supply zone and have not moved significantly since yesterday morning. Pin bar on 1H 5 year bond so we might see USD go down for a bit (which will push EUR up for a while).

Is this interpretation correct?
I observe your reality but live my own.
  • #19,980
  • Jan 18, 2012 11:04am Jan 18, 2012 11:04am
Quoting Cgb
Both are in the supply zone and have not moved significantly since yesterday morning. Pin bar on 1H 5 year bond so we might see USD go down for a bit (which pull push EUR up for a while).

Is this interpretation correct?
Might be, but the bigger picture is screaming for a significant correction on the USDX, so although the upside on the Euro is very limited, I don't see too much downside for the rest of this week. Perhaps next week we will see 1.25

ADD: Also keep in mind that we are now in Q4 2011 earnings season and will also be looking for 2012 guidance. Of course you already know that
Those who say it cannot be done should not interrupt those who are doing it
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