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M&W-Trading

  • #401
  • Feb 10, 2012 7:07am Feb 10, 2012 7:07am
This might be the LOD of the day on EU,, buy at: 1.3190

However tight stops needed during incoming news
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-02-10_1402.png Size: 65 KB
  • #402
  • Feb 10, 2012 7:20am Feb 10, 2012 7:20am
Daily range projection down at 1.3154. Will look for W there.

I'm a bit disappointed with myself today - was so focussed on the W that I ignored the signs of weakness that should have got me into a nice short. Oh well.
  • #403
  • Feb 10, 2012 7:25am Feb 10, 2012 7:25am
wow, this thread turning into another EUR/USD interactive thread,
http://www.forexfactory.com/showthre...372&page=39601

take a look at 4hrs charts and see if you noticed:

EUR/USD rounding top. or Level3 in MMM terms.
GBP/USD head-and-shoulders formation. Level3 top.
AUD/USD head-and-shoulders formation. Level3 top. watching how they develop further.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrs.png Size: 33 KB
  • #404
  • Feb 10, 2012 7:30am Feb 10, 2012 7:30am
Quoting bstay2
wow, this thread turning into another EUR/USD interactive thread,
http://www.forexfactory.com/showthre...372&page=39601

If you feel that's a bad thing bstay then I'll quieten up. I think a bit of interaction is a good thing. You don't see much real-time thinking posted on these forums - mainly after the fact stuff. It can really help to develop an awareness of action at the hard right edge of the chart.
  • #405
  • Feb 10, 2012 7:36am Feb 10, 2012 7:36am
UCAD has a good reason to fall now thanks to that CAD + USD trade balance news. Looks like it was positioned deliberately for a good fall. Not in time to save my EU long though.
  • #406
  • Feb 10, 2012 7:50am Feb 10, 2012 7:50am
Quoting bstay2
wow, this thread turning into another EUR/USD interactive thread,
http://www.forexfactory.com/showthre...372&page=39601

take a look at 4hrs charts and see if you noticed:

EUR/USD rounding top. or Level3 in MMM terms.
GBP/USD head-and-shoulders formation. Level3 top.
AUD/USD head-and-shoulders formation. Level3 top. watching how they develop further.

Thanks bstay. Yes EU H4 looked quite weak didn't it...must pay more attention.
  • #407
  • Feb 10, 2012 8:16am Feb 10, 2012 8:16am
Quoting Sutts
Thanks bstay. Yes EU H4 looked quite weak didn't it...must pay more attention.
I was waiting for perfect W/M formation from 50pips stop hunt above/below asian box before H&S formation on 15m chart. A very good short opportunity from there
  • #408
  • Feb 10, 2012 8:19am Feb 10, 2012 8:19am
Quoting 2face
I was waiting for perfect W/M formation from 50pips stop hunt above/below asian box before H&S formation on 15m chart. A very good short opportunity from there

Agreed, I was blinkered by my long entry - a common problem with me.
  • #409
  • Feb 10, 2012 8:30am Feb 10, 2012 8:30am
Quoting Sutts
Agreed, I was blinkered by my long entry - a common problem with me.
MMM needs a lot of home work. M/W formation was some pips above from asia box. I cant take that one. I need to find out why and scroll back on my chart
  • #410
  • Feb 10, 2012 8:44am Feb 10, 2012 8:44am
Quoting 2face
MMM needs a lot of home work. M/W formation was some pips above from asia box. I cant take that one. I need to find out why and scroll back on my chart

Agreed. Sometimes I think the MM create tasty looking setups to blind people like me to their real intentions. In fact I'm sure of it. That's why I always try for precice entries with tight stops.
  • #411
  • Feb 10, 2012 8:52am Feb 10, 2012 8:52am
Quoting bstay2
http://i.imgur.com/DMbtJ.png
Option expire was causing all this? Meaning not to expect full W/M formation on days like this. What about NFP date?
  • #412
  • Feb 10, 2012 8:53am Feb 10, 2012 8:53am
Quoting Sutts
If you feel that's a bad thing bstay then I'll quieten up. I think a bit of interaction is a good thing. You don't see much real-time thinking posted on these forums - mainly after the fact stuff. It can really help to develop an awareness of action at the hard right edge of the chart.
Good thing!
  • #413
  • Feb 10, 2012 9:07am Feb 10, 2012 9:07am
Looking at 1h and 4h TDI at 5:45 am EST, was this a strong or a weak W? Hmmm ...

Quoting Sutts
Thanks bstay. Yes EU H4 looked quite weak didn't it...must pay more attention.
Quoting bstay2
take a look at 4hrs charts and see if you noticed:

EUR/USD rounding top. or Level3 in MMM terms.
GBP/USD head-and-shoulders formation. Level3 top.
AUD/USD head-and-shoulders formation. Level3 top. watching how they develop further.
  • #414
  • Feb 10, 2012 9:10am Feb 10, 2012 9:10am
Quoting hart3000
Looking at 1h and 4h TDI at 5:45 am EST, was this a strong or a weak W? Hmmm ...

Thanks hart. Must look at that TDI thingy. I tend to only have stochs on my screen and that's just for divergence. Took me years to shake the indi habit so it's hard to put things back on there!
  • #415
  • Feb 10, 2012 9:11am Feb 10, 2012 9:11am
Possible M shaping up on UCAD right now.

Don't like the look of the EU bounce so I'm staying clear for today I think.
  • #416
  • Feb 10, 2012 9:26am Feb 10, 2012 9:26am
GF (GBP/CHF) W at 0415 EST ... was that strong or weak?

P.S.
Hey guys, pls let me know if my MWs get on your nerves. A simple "enough" is enough. Promise.
  • #417
  • Feb 10, 2012 9:28am Feb 10, 2012 9:28am
Quoting hart3000
GF (GBP/CHF) W at 0415 EST ... was that strong or weak?

P.S.
Hey guys, pls let me know if my MWs get on your nerves. A simple "enough" is enough. Promise.

No, please keep them coming hart. I'll be up to speed with your strong/weak assessment soon I hope.
  • #418
  • Feb 10, 2012 9:32am Feb 10, 2012 9:32am
Quoting Sutts
Possible M shaping up on UCAD right now.

Don't like the look of the EU bounce so I'm staying clear for today I think.
In my book, this is not clear. Neither weak nor strong. Move is overextended on all TDIs (15/60/240). Retracement is due, but I wouldn't be surprised to see another higher high.

No trade for me.
  • #419
  • Feb 10, 2012 9:38am Feb 10, 2012 9:38am
Quoting Sutts
Thanks hart. Must look at that TDI thingy. I tend to only have stochs on my screen and that's just for divergence. Took me years to shake the indi habit so it's hard to put things back on there!
Stochs should also work. Got used to the TDI here.

Guess, one could do the weak/strong judgment without any indi. Good whack that, will try. Thx Sutts.
  • #420
  • Feb 10, 2012 9:42am Feb 10, 2012 9:42am
Quoting hart3000
In my book, this is not clear. Neither weak nor strong. Move is overextended on all TDIs (15/60/240). Retracement is due, but I wouldn't be surprised to see another higher high.

No trade for me.
Thanks for the advice hart. I did take a short from 1.0020 but the stop is only 12 so I'll take what comes.
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