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  • #612,541
  • Mar 20, 2012 4:37pm Mar 20, 2012 4:37pm
Quoting phxmike
you really dont get it? he did not say dont look at the closing candles he said dont look at themon 15 min as it is not a trend!
it is for daytraders and trend means longer term than this
even if you are a daytrader you should first check the main trend on 4 hour or daily chart and then dive into 5 or 15min and trande with the trend or the bounce or whatever

but only looking at the 15 min chart closing it really is just as he said: noise...

but of course, everybody is on his own here so do whatever you think fits for you the best

good...
I made it clear that I use 1 hr, 3 hr and 4 hr charts for larger trends. But in order for the market to reach resistance on those larger charts, it first needs to pass the resistance on the 15-min chart. I do not use the 15-min chart for trends, I use it to find short term levels of support and resistance that must be taken out before we move higher (or lower).
  • #612,542
  • Mar 20, 2012 4:40pm Mar 20, 2012 4:40pm
Quoting Kowalczyk
Obviously I do not know where this market is going, but the odds are, at least in my opinion, in the bulls favor (by a lot). It could go lower, but that is not very likely at all (once again, only in my opinion).
I must admit that the 4 hr is in your favor, but only by a tiny little bit.
Probably all to be decided in next London session.
maybe I can stay awake for that one
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  • #612,543
  • Mar 20, 2012 4:45pm Mar 20, 2012 4:45pm
Quoting KillerWhale
I must admit that the 4 hr is in your favor, but only by a tiny little bit.
Probably all to be decided in next London session.
maybe I can stay awake for that one
I think that both the 1, 3 and 4 hour charts are in my favor, but obviously these things are suggestive. I see is at the market making new highs, retracing to the previous high. Bouncing cleanly as it failed to close below the previous highs close, and now ready to make new highs (not to mention a great dojo on the 3-hr).

To be fair, on the 3 and 4 hr chart, EUR/USD is technically in a down trend until it manages to take out the previous high at 1.3290 but I think that is easily will.
  • #612,544
  • Mar 20, 2012 4:50pm Mar 20, 2012 4:50pm
Intraday : sell it if breakout the mentioned level with SL at the median line, TP : is open (order to be closed at end of the day)
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  • #612,545
  • Mar 20, 2012 4:52pm Mar 20, 2012 4:52pm
Quoting Kowalczyk
I think that both the 1, 3 and 4 hour charts are in my favor, but obviously these things are suggestive. I see is at the market making new highs, retracing to the previous high. Bouncing cleanly as it failed to close below the previous highs close, and now ready to make new highs (not to mention a great dojo on the 3-hr).

To be fair, on the 3 and 4 hr chart, EUR/USD is technically in a down trend until it manages to take out the previous high at 1.3290 but I think that is easily will.
We'll see in a couple of hours but my attention is more towards GBP/YEN at the moment where the profits are much higher pipwise than in EU.
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  • #612,546
  • Mar 20, 2012 4:52pm Mar 20, 2012 4:52pm
Quoting Kowalczyk
Obviously I do not know where this market is going, but the odds are, at least in my opinion, in the bulls favor (by a lot). It could go lower, but that is not very likely at all (once again, only in my opinion).
Looking in this moment at Daily & H1 charts :
- for Daily - Fibo from 100% - 1.4246 and 0% - 1.2625 => level 38,2% - 1.3244, 50% - 1.3436, 61,8% - 1.3627
- for H1 - Fibo from 100% - 1.34848 and 0% - 1.30033 => level 38,2% - 1.3187, 50% - 1.3244, 61,8% - 1.3300

So, I see level 38,2% from Daily Chart has the same value as level 50% from H1 chart. In my opinion, the market now is caught btw levels 1.31820 and 1.32550. Therefore:
a) For bullish - if level 1.32560 is penetrated it will be a chance to go till 1.33
b) For bearish - if level 1.31820 is penetrated it will be a chance to go down till 1.30.
Speculation converts one man's capital into another man's income
  • #612,547
  • Mar 20, 2012 5:01pm Mar 20, 2012 5:01pm
Quoting KillerWhale
We'll see in a couple of hours but my attention is more towards GBP/YEN at the moment where the profits are much higher pipwise than in EU.

and if you don't mind me asking, what is your outlook for GBP/JPY ?

Thanks in advance for any reply. I am a newbie trying to learn to make money in forex trading (already lost 20% of my account since January)
  • #612,548
  • Mar 20, 2012 5:01pm Mar 20, 2012 5:01pm
Quoting KillerWhale
We'll see in a couple of hours but my attention is more towards GBP/YEN at the moment where the profits are much higher pipwise than in EU.
I'm also interested in GBPJPY now. I see target above 133, possible 133,2, but I'm not sure on the entry point if it is a good time at the moment (132,74). Do you have some similar considerations?
  • #612,549
  • Mar 20, 2012 5:07pm Mar 20, 2012 5:07pm
Quoting Tomoney
I'm also interested in GBPJPY now. I see target above 133, possible 133,2, but I'm not sure on the entry point if it is a good time at the moment (132,74). Do you have some similar considerations?
I favor the short side but not at these levels. Wait for a move higher and short on PA if you have the chance (or if it falls to 132.10, it would be a good time to short as it probably means the trend and market sentiment has reversed).
  • #612,550
  • Mar 20, 2012 5:13pm Mar 20, 2012 5:13pm
Quoting Kowalczyk
I favor the short side but not at these levels. Wait for a move higher and short on PA (or if it falls to 132.10, it would be a good time to short).
Very useful tip. I think I understand what do you mean when I look at the 4H. Thank you Kowalczyk But in this first idea waiting for a higher move you consider level near 133,2 or higher?
  • #612,551
  • Mar 20, 2012 5:20pm Mar 20, 2012 5:20pm
Quoting Tomoney
Very useful tip. I think I understand what do you mean when I look at the 4H. Thank you Kowalczyk But in this first idea waiting for a higher move you consider level near 133,2 or higher?
I have 133.75 and 134.50 as major resistance on my charts. I have 132.20 as a pivot area, I do not know if that is what you mean.
  • #612,552
  • Mar 20, 2012 5:23pm Mar 20, 2012 5:23pm
i d sell it with 20 pip sl target 1.3150
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  • #612,553
  • Mar 20, 2012 5:29pm Mar 20, 2012 5:29pm
I have been in U/J since the 15th of June. Who said anything about 6 days ago.


Quoting KillerWhale
Is that right?

Lets see, I could have gone long USD/YEN 6 days ago and have a profit of ....... zero today.
Wow that's really a bullish killing.
Please do not vouch for me.
  • #612,554
  • Mar 20, 2012 5:31pm Mar 20, 2012 5:31pm
Yen taking a beating on all fronts. Until the VIx hits 19-20 area I will stay.


VIX......http://finance.yahoo.com/echarts?s=%5EVIX+Interactive#chart1:symbol=^vix;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined


Quoting Tomoney
Could you tell us why?
Please do not vouch for me.
  • #612,555
  • Edited 8:08pm Mar 20, 2012 5:35pm | Edited 8:08pm
1.3310


Quoting wing66
ur target 285 s/l=target?
Please do not vouch for me.
  • #612,556
  • Mar 20, 2012 5:57pm Mar 20, 2012 5:57pm
Quoting aPIPor100
and if you don't mind me asking, what is your outlook for GBP/JPY ?

Thanks in advance for any reply. I am a newbie trying to learn to make money in forex trading (already lost 20% of my account since January)
GY Much higher, possible 1.40 in a few weeks. But somewhere it calls for a pull back to 1.30 (?) maybe sooner than later.
For more info I will give you the link to the thread where this being discussed.

http://www.forexfactory.com/showthre...83#post5494483
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  • #612,557
  • Mar 20, 2012 6:00pm Mar 20, 2012 6:00pm
Quoting KillerWhale
GY Much higher, possible 1.40 in a few weeks. But somewhere it calls for a pull back to 1.30 (?) maybe sooner than later.
For more info I will give you the link to the thread where this being discussed.

http://www.forexfactory.com/showthre...83#post5494483
But let me add the GJ is not really a pair for beginners.
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  • #612,558
  • Mar 20, 2012 6:02pm Mar 20, 2012 6:02pm
http://img41.imageshack.us/img41/971...ourssnapsh.png
  • #612,559
  • Mar 20, 2012 6:03pm Mar 20, 2012 6:03pm
Looks like we might retest 1.3243. Looking for a 15-min close above 1.3238 for another move up.
  • #612,560
  • Mar 20, 2012 6:07pm Mar 20, 2012 6:07pm
been a boring week
When life gives you lemons, make lemonade
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