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  • #4,021
  • Feb 8, 2012 6:47am Feb 8, 2012 6:47am
Quoting hale-mary
I know what the top 2 green lines represent. I was talking about the bottom 3. They cannot all be resistance.

I will wait for X-man. Fib Template does not sound accurate to me because he mentioned the top two lines were the Asian range today.
Hale-Mary,

The top two green lines are the asian session high & low - the other green lines are fib retracements. the 23.6% retracement happens to coincide with the asian session low.

Draw the fibs yourself, and it will become apparent.

Hope this helps.

Charles
  • #4,022
  • Feb 8, 2012 6:54am Feb 8, 2012 6:54am
Quoting burningmunke
Wow, that is insane! What country is that from??
good ol' Yugoslavia.
Thoughts are things
  • #4,023
  • Feb 8, 2012 6:56am Feb 8, 2012 6:56am
I believe this is bearish divergence now on the 1HR euro chart. However, with the imminent deal with greece, I would think we are still in for another bullish wave... What do you folks think?

LL
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"IN CASH WE TRUST"
  • #4,024
  • Feb 8, 2012 6:57am Feb 8, 2012 6:57am
I picked up +25 so for on these small movements, this is very boring but will have to be patient to see which way it goes, hopefully down because i have been in DD on a sell since yesterday.
  • #4,025
  • Feb 8, 2012 7:03am Feb 8, 2012 7:03am
Quoting Quezoy
good ol' Yugoslavia.
You're right, you and I are probably born in the same country.

Pozdrav.
  • #4,026
  • Feb 8, 2012 7:06am Feb 8, 2012 7:06am
Quoting Quezoy
good ol' Yugoslavia.
Guys there isn't anything for laughing.Imagin the quality of life in there.
  • #4,027
  • Feb 8, 2012 7:07am Feb 8, 2012 7:07am
Quoting X-Man
those green lines are just lines that i have put in manually to mark certain support and resistance areas. It was just to trade the bounces within that range.

but now i removed all those green horizontal lines and just kept the top 2 lines.
The fibb retracement is for PA if it decides to move down then i know places to set my TP

x-man

will your TP be fib 61.8 so according to your screenshot you will set a 25 TP?
  • #4,028
  • Feb 8, 2012 7:26am Feb 8, 2012 7:26am
Quoting migmac
x-man

will your TP be fib 61.8 so according to your screenshot you will set a 25 TP?
from the break of support to the 61.8% is around 70pips and the 50% is around 50pips.
So if it has to happen ill set a 50 pip tp
X-man the legendary conqueror of markets
  • #4,029
  • Feb 8, 2012 7:46am Feb 8, 2012 7:46am
The last 2 days around this time action was right around the corner, will see if this applies to today also.
  • #4,030
  • Feb 8, 2012 7:48am Feb 8, 2012 7:48am
Quoting X-Man
from the break of support to the 61.8% is around 70pips and the 50% is around 50pips.
So if it has to happen ill set a 50 pip tp
Hi X-Man,
Doesn't the BRN of 1.32 come into your thinking when setting TP?
Kan
Thanks for your help, warmth and straight talking Heather.
  • #4,031
  • Feb 8, 2012 7:57am Feb 8, 2012 7:57am
Starting with the 15minute, I am used to scalping futures on small tf's so 15 minutes is a jump for me
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  • #4,032
  • Feb 8, 2012 8:20am Feb 8, 2012 8:20am
Just took 30 pips on the move down...

Sometimes it just requires a little patience..
  • #4,033
  • Edited 8:31am Feb 8, 2012 8:28am | Edited 8:31am
I have been in a short trade for almost 5 hours now. It seems that price is moving down now.
Trading can't be taught but it can be learned
  • #4,034
  • Feb 8, 2012 8:47am Feb 8, 2012 8:47am
Hard for me to want to stay in, but Ill get the hang of it
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  • #4,035
  • Feb 8, 2012 8:52am Feb 8, 2012 8:52am
hi there i'm new here, been trawling through all the posts, great stuff, i'm a bit confused i thought the 1 hour system rules were to trade the eurusd, but some people are trading other pairs like the previous post, gbpusd on 15 minute chart, cheers
  • #4,036
  • Feb 8, 2012 8:58am Feb 8, 2012 8:58am
Hi artie1, some people trade the M15 for scalping trades when market is trading in such a tight range. They may also look for another pair to trade when EU is ranging. I just stick to EU on H1.
Trading can't be taught but it can be learned
  • #4,037
  • Feb 8, 2012 9:04am Feb 8, 2012 9:04am
Hi Artie, yes you should only trade the eur/usd on the 1 hr tf
  • #4,038
  • Feb 8, 2012 9:29am Feb 8, 2012 9:29am
took a short on pounds 4 hr cross over
  • #4,039
  • Feb 8, 2012 9:36am Feb 8, 2012 9:36am
today has been a dry quiet day in the market

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X-man the legendary conqueror of markets
  • #4,040
  • Feb 8, 2012 9:39am Feb 8, 2012 9:39am
I am out of my short trade +20 pips. No more trades for me today.
Trading can't be taught but it can be learned
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