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  • #4,861
  • Feb 17, 2012 3:27am Feb 17, 2012 3:27am
Hi X-Man,

I have noticed a few times that even though we have a TDI cross and perhaps PA moving below the 5 MA the price hesitates in going donw as it is doing just now on the hourly TF.

The reason, as I have noticed, could be that the Yellow Dotted Market Base line is below 50 and rising. So until that tepers off and starts dropping the PA will not drop.

Is my reading correct?

DD
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  • #4,862
  • Feb 17, 2012 3:27am Feb 17, 2012 3:27am
The market remembers this 1.3140 ... base for the 4 Oct 2011 rally.
Last night it was tested and stopped the bullish run.
Asian session tested again...failed.
Last 3 H1 candles shows increase interest of buyer and sellers, stronger test, also failed to break.
Wait for a candle to close above 1.3140, strong open and see if there will be a bigger than usual candle, preferably a OB, then trade the price pullback. Always look at TDI and APB support.

Look at H4, weekly pivot 1.3206
Is there enough room up for you to take a Long trade?
This week' range has already been made from Monday 13 Feb high to Thursday 16 Feb Low, about 308pips.

Draw a fibo for this Hi-Lo and trade the retracement levels.
Buy entry at fib 61.8%, 1.3165
TP 78.6% 1.3217
SL 50% 1.3128
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,863
  • Edited 3:35am Feb 17, 2012 3:34am | Edited 3:35am
Of the two statements, which one better describe how you feel about the market each time there is a huge move?
]
a)When the market decides to make its move, it will not take me along

b)When the market decides to make its move, it will leave me behind

What will you do about it to ensure that you will be in the market in every big move?

Regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,864
  • Feb 17, 2012 3:36am Feb 17, 2012 3:36am
Quoting emmanuel7788
Of the two statements, which one better describe how you feel about the market each time there is a huge move?
]
a)When the market decides to make its move, it will not take me along

b)[color=black][color=black][size=3]When...
A typical singaporean ans: NONE OF THE Above
NEVER go against the Daily trend
  • #4,865
  • Feb 17, 2012 3:43am Feb 17, 2012 3:43am
Quoting shaikjun
A typical singaporean ans: NONE OF THE Above

this is not a mcq test, either a) or b) ...there is no c) for an answer.

Good try!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,866
  • Feb 17, 2012 3:46am Feb 17, 2012 3:46am
Ok got stopped out, slightly suspected this move... I think it's a fake out and we will still see a strong move down maybe at US open or before..
  • #4,867
  • Feb 17, 2012 3:49am Feb 17, 2012 3:49am
GBPUSD is up strongly and AUDUSD is thinking about it as well. Yesterday it took a while but the EURUSD followed their lead.
  • #4,868
  • Feb 17, 2012 3:56am Feb 17, 2012 3:56am
Quoting emmanuel7788
The market remembers this 1.3140 ... base for the 4 Oct 2011 rally.
Last night it was tested and stopped the bullish run.
Asian session tested again...failed.
Last 3 H1 candles shows increase interest of buyer and sellers, stronger test, also failed to break.
Wait for a candle to close above 1.3140, strong open and see if there will be a bigger than usual candle, preferably a OB, then trade the price pullback. Always look at TDI and APB support.

Look at H4, weekly pivot 1.3206
Is there enough room up for you to take a Long trade?
This week' range...
Never understood how the range can be used for trading. When you say the weekly range has been met not sure how to interpret it. I thought the ranges could change at any time So I am unable to find out how to use this to my advantage.

Same thing with the specific level you pointed out. For me I forgot about that after the week was done.
  • #4,869
  • Feb 17, 2012 4:04am Feb 17, 2012 4:04am
Quoting hale-mary
Never understood how the range can be used for trading. When you say the weekly range has been met not sure how to interpret it. I thought the ranges could change at any time So I am unable to find out how to use this to my advantage.

Same thing with the specific level you pointed out. For me I forgot about that after the week was done.
I am referring to the average weekly trading range:
week 6 = 294pips
last 5 weeks = 287
last 10 weeks = 292
last 20 weeks = 340
last 100 weeks = 360

these will give you an idea how volatile this week is looking at the past avg week range.

considering the ADR iof say 120pips and where the price is now, how far can it move today?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,870
  • Feb 17, 2012 4:04am Feb 17, 2012 4:04am
Quoting Cun
Thanks Phx62. As always it is informative and insightful.

Another question, is the EMA200 relevant to PA only when the candles are near it, like they are now? I mean when the candles are way above or way below it like yesterday we can in general ignore it?
The 200 EMA is also a trend indicator.
  • #4,871
  • Feb 17, 2012 4:07am Feb 17, 2012 4:07am
Quoting matlobien
You are a brilliant teacher sir.

Thanks.....just trying to pay it forward!!!
  • #4,872
  • Feb 17, 2012 4:08am Feb 17, 2012 4:08am
Quoting emmanuel7788
I am referring to the average weekly trading range:
week 6 = 294pips
last 5 weeks = 287
last 10 weeks = 292
last 20 weeks = 340
last 100 weeks = 360

these will give you an idea how volatile this week is looking at the past avg week range.

considering the ADR iof say 120pips and where the price is now, how far can it move today?
OH. That i know. I thought you were going into something deep...lol
thanks
Ps your analysis for the 1.3140 level was deep for me. Never would have thought about that
  • #4,873
  • Feb 17, 2012 5:00am Feb 17, 2012 5:00am
Quoting nonfiction
GBP - Retail sales in 10min.

May be a big mover to the downside if news is bad. I suspect, EURUSD is not making any movement until this news.
Hello nonfiction,
I have read somewhere on FF that GBP news does not affect EUR much, but EUR news will affect GBP.

Your post seems to contradict that. I'd be grateful if you could comment please.
Thanks,
Kan
Thanks for your help, warmth and straight talking Heather.
  • #4,874
  • Feb 17, 2012 7:40am Feb 17, 2012 7:40am
Hopefully we get to see this NY open candle as a pullback, that should make a nice end to the week
  • #4,875
  • Feb 17, 2012 7:54am Feb 17, 2012 7:54am
went long today at after close of second candle London Session. TP hit at 30 pips or so. Went long after it broke 200ema. all the signs were there for a long. not really sure why i was in it alone though.
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  • #4,876
  • Feb 17, 2012 8:09am Feb 17, 2012 8:09am
Quoting only20gp
went long today at after close of second candle London Session. TP hit at 30 pips or so. Went long after it broke 200ema. all the signs were there for a long. not really sure why i was in it alone though.
In my case I was nervous after a strong move yesterday and I felt this being Friday that consolidation was going to be the main story. Because of that it was better to be out than in. Well done you a good end to the week.
  • #4,877
  • Feb 17, 2012 8:13am Feb 17, 2012 8:13am
Quoting only20gp
went long today at after close of second candle London Session. TP hit at 30 pips or so. Went long after it broke 200ema. all the signs were there for a long. not really sure why i was in it alone though.


I did the same trade +35, set my TP at 3200 but exited after 15min pulback
  • #4,878
  • Feb 17, 2012 8:15am Feb 17, 2012 8:15am
Quoting alshaheen
hi has anyone tried this tdi

Hi alshaheen

your attached TDI Alert indicator does not show the TDI cross in realtime like the TDI_RT provided in post#1.

regards
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,879
  • Feb 17, 2012 8:19am Feb 17, 2012 8:19am
Quoting H-Pip
I did the same trade +35, set my TP at 3200 but exited after 15min pulback
Hi,

Getting a good trade entry is hardwork and requries patience.

You should avoid M15 noise when you manage your trade.

Give your trade time to work.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #4,880
  • Feb 17, 2012 8:34am Feb 17, 2012 8:34am
Quoting Kanderpro
Hello nonfiction,
I have read somewhere on FF that GBP news does not affect EUR much, but EUR news will affect GBP.

Your post seems to contradict that. I'd be grateful if you could comment please.
Thanks,
Kan
Hey Kan, I'm no expert and someone can correct me if I am wrong but there was greater than expected retail sales news for GBP. This put GBP/USD up against the dollar, and from what I see when one currency against the dollar goes up with strong news it puts pressure on other currencies because there is some correlation between all the pairs (to some extent). Like AUD/USD,EUR/USD. You will see they also went up a bit.

It also means that, if retail sales in GBP are up, Brits in the UK are seen as spending more which would also mean they can spend more in the EU which is positive.

I don't use this to make my trading decisions, just something I have noticed.
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