let's see will we get a surprise closed of candle above 5690 in this last trading hour..
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market is seriously tough..damnit..it went against what i think was very probable..usd yesterday was bearish..today complete bull ..but where is it right up at resistance
next week may be quite interesting and stressfull
I think Smikester mentioned the 200sma the other week and how it is very steep. This I feel, is inhibiting progress (as seen on my chart). I also remember saying at the time that I think we will be ranging between 5990 and 5645 for a bit before moving higher.
We have also shot up from the bottom through strong resistance (1st stair) as if it wasn't there. Personally, I think this requires a lengthy period of consolidation so the market can get back to some form of equilibrium. Some people don't believe in that stuff but I firmly do.
As the 200MA starts to flatten out, I think we will be climbing higher. The touch on 5990 has started this flattening process already. The white line is my (approximate) bullish line in the sand.
Just my view.
Loved that image again bro, "YOU SHALL NOT PASS!" Funny how a simple line like that can be so hilarious in context.
Have a great weekend nAV
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for that to happen, at least we must have higher low or higher high but it seems in 4h we have neither of that, which means that it won't go that way.. until we see higher low/higher high, the downtrend is still in progress.. imho..
On the daily we do have a higher high though don't we? 5990?
In this situation which is quite unusual, we have a lot of stubborn resistance to still get through. This will limit the extent and obvious nature of any higher highs. If you zoom out it kind of looks like determined foot soldiers marching through mud. progress is slow but is steady none the less.
For my money, if we are going to go south, we should do it next week since we are coming off a daily and 4 hr head and shoulders, resistance at 5990/50fib/weekly 60sma. If we don't head south next week, I doubt we will anytime soon.
next week should be full of pips either way I hope
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- Mar 9, 2012 5:04pm Mar 9, 2012 5:04pm
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I know you don't use MA's bro, but I do as they can be useful for a number of reasons.
I think Smikester mentioned the 200sma the other week and how it is very steep. This I feel, is inhibiting progress (as seen on my chart). I also remember saying at the time that I think we will be ranging between 5990 and 5645 for a bit before moving higher.
We have also shot up from the bottom through strong resistance (1st stair) as if it wasn't there. Personally, I think this requires a lengthy period of consolidation so the market can get back to some form...
too buddy..i absolutely agree with u..i suppose it will take a while..sound analysis my friend
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XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
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ex member
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- Mar 9, 2012 10:36pm Mar 9, 2012 10:36pm
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Master bearish thrust engulfing x 2 on the Daily candle close Friday..results in a bearish Weekly candle follow thru on last week's Weekly bearish hammer candle.
[Another subdued weekly pip range of 79% of it's 20 week atr, so far this month 50% of 20 mth atr. Friday's pip range was 155% of it's 20 day atr.]
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If there was easy money lying around,no one would be forcing it into your
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- Edited at 8:49am Mar 10, 2012 8:38am | Edited at 8:49am
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Always looking the GREAT, never left GOOD Point...
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Always looking the GREAT, never left GOOD Point...
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- Mar 10, 2012 9:07am Mar 10, 2012 9:07am
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would like to spend just 2 words about yesterday events:
1. IMO, NFP data was not so good as someone here said loudy! for what i see previous was 284k release is 227K so it is a decline.... not a good data. impulsive reaction can be dollar strenght but then things will setup.
2. anybody saw the trade balance -52.6b
? just to say!
3. anyone noticed that there was just a small thing coming out from greece? i really didn't notice because i was focused and busy in other matters yesterday, but also nobody here really said anything.
for what i see the down move was not caused by nfp numbers at all.
but is only my opinion and market will tell soon next direction!
have a good week end everybody.
1. IMO, NFP data was not so good as someone here said loudy! for what i see previous was 284k release is 227K so it is a decline.... not a good data. impulsive reaction can be dollar strenght but then things will setup.
2. anybody saw the trade balance -52.6b
? just to say!3. anyone noticed that there was just a small thing coming out from greece? i really didn't notice because i was focused and busy in other matters yesterday, but also nobody here really said anything.
for what i see the down move was not caused by nfp numbers at all.
but is only my opinion and market will tell soon next direction!
have a good week end everybody.
Survey for smileys on FF is active. Ask me.
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- Mar 10, 2012 9:31am Mar 10, 2012 9:31am
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obviously i know nothing... yet i make money...
im outa here... too much negativity around here despite the warnings
yawn...
have a nice week all...
i took the time to read previous posts.
i don't take as offensive what you posted but since there is some one which could have, would be good from you to at least try to understand who, if and what. but you is you, me is me, and everybody is everybody.. so .. up to you.
personally i really don't think there is so much negativity in here, simply is a place where everybody share what is doing and why. from time to time someone is right and then is wrong. some people have more trading experience, some other have less. doesn't matter!
i don't take this like a place where one come in and say "LONG" and everybody "hurraaaaa, he's long so let's all go long! yupppieeee!" or like one come here and say "IT'S A SHORT!" and everybody "yeeeeeeeah, let's go all together SHORT!!". maybe i got it wrong
if you take 10 people and give them same chart same indi same setup, and after a day you look at the results, you will see 10 different result. i would say 11!!!
so, again, there is really no reasons to take the time to try to convince others that you are right or that you are wrong. and it comes to be fastidious IMO to read one saying something like "ehy, look, i told you, i was right, i reapeat so soundy and nobody listened!" because once or the other market will prove you wrong. or maybe already did in the past.... because market is alive and never stop and never do what you think. if happens like that 1 time, 3 times... can also prove you right 10 times, but stay sure that the time that he will decide to kill you, he will do in the worst way he can do! mostly if you keep staying in your reasons.
don't take this as a judgement or any kind of advice. i'm simply sharing to you, and so to everybody who will take the time to read, what i learnt in the past
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- Mar 10, 2012 9:42am Mar 10, 2012 9:42am
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and for who is thinking "ah, he went long when market was clearly saying short!" or shits like that.... well...
i took also a position like reasoned in this chart:
http://www.forexfactory.com/showthre...59#post5458959
2) i didn't post when i exited
3) i din't say anything because i was not confident in more down below 5770
i simply posted reasons on thursday night here in GU thread thinking that someone could have found them helpful, and then friday morning posted in my journal just to remember me what kind of things i need to look at to take a short position which i still find not easy. worked too much when market was only bullish everywhere. could be a reason.
i decided to close earlier, because it is due to my trading method which doesn't include to hold a trade too much if no confident. proved wrong or proved right i don't care at all. i will take price at the next level forgetting about the missed pips. if i took all the pips i saw going in this monitor, i would be at least millionaire now.
just to say what i'm used to do
i took also a position like reasoned in this chart:
http://www.forexfactory.com/showthre...59#post5458959
but
2) i didn't post when i exited
3) i din't say anything because i was not confident in more down below 5770
i simply posted reasons on thursday night here in GU thread thinking that someone could have found them helpful, and then friday morning posted in my journal just to remember me what kind of things i need to look at to take a short position which i still find not easy. worked too much when market was only bullish everywhere. could be a reason.
i decided to close earlier, because it is due to my trading method which doesn't include to hold a trade too much if no confident. proved wrong or proved right i don't care at all. i will take price at the next level forgetting about the missed pips. if i took all the pips i saw going in this monitor, i would be at least millionaire now.
just to say what i'm used to do
Survey for smileys on FF is active. Ask me.