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  • #634,201
  • Apr 26, 2012 8:02am Apr 26, 2012 8:02am
Ain't looking so good for bulls based on the h1 chart.
COT: The precious data ignored
  • #634,202
  • Apr 26, 2012 8:03am Apr 26, 2012 8:03am
Quoting SnaveForex
umemployment is serious than home sales...imo....the number will be revised... everything priced in already
i suck at fundies. i'm just going by chart.
  • #634,203
  • Apr 26, 2012 8:04am Apr 26, 2012 8:04am
Quoting Stretch
Thank you! That's good advice too. I sometimes am acting stupid and "rush in" somewhere before waiting for real confirmation.
So in this way you are really looking for a solid confirmation, right?
And on what TF would you look for this HLs, lower or higher TFs?
Do you use mids then from the momentum bar for looking for the end of the retrace?
The TF that shows the top.. You can have other tops on lower TFs as well, same difference..

No mids for this. I want to see how the initial rejections play out.. They have to make HLs, then you want a momentum bar into the top, wait for pull back and long.. Or you can wait for the actual break out, and long the retest of the top, now support..
  • #634,204
  • Apr 26, 2012 8:04am Apr 26, 2012 8:04am
seems so many traders here like to press buy ONLY...
  • #634,205
  • Apr 26, 2012 8:04am Apr 26, 2012 8:04am
3222 is key now
  • #634,206
  • Apr 26, 2012 8:05am Apr 26, 2012 8:05am
Quoting kuroro001
Ain't looking so good for bulls based on the h1 chart.
YES! Divergence on H1!
Attached Image (click to enlarge)
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  • #634,207
  • Apr 26, 2012 8:05am Apr 26, 2012 8:05am
Guess what will be the next ??? PANIC
  • #634,208
  • Apr 26, 2012 8:05am Apr 26, 2012 8:05am
Quoting Pair-me-up
Thanks Stevix... Does it matter how many times a S/R line gets bounced off of. Like say 2 years it go it reject a price... Would it still be valid now?
I'm no expert maybe you could find here a thread on S/R for a better answer. But some levels like round numbers are always valid. If the market is really moving then any 2yr old S/R could be shot through with little regard. And if level is met on Asia session maybe it is less likely to be breeched? A lot of variables in this game. Price either does or does not respect a level on a certain day and if you trade what you see rather than what you hope for you usually do better.
  • #634,209
  • Apr 26, 2012 8:05am Apr 26, 2012 8:05am
well daily tf looking at 3294 at least.

lets hope it will be a valid one.
400 pips remaining.
  • #634,210
  • Edited 8:07am Apr 26, 2012 8:07am | Edited 8:07am
Quoting pkimnyc
momentum has to support on those candles. had a good chance earlier, but smaller tf didn't agree yet. guess the news fueled it. anyway, game isn't over yet. all depends on the next move.
Yeah...guess I'm a little too impatient. I figured that thing should have dropped like a sailor's britches back on Hotel Street in Honolulu after being out to sea for months.
It's the simple things in life that have the most powerful meaning.
  • #634,211
  • Apr 26, 2012 8:07am Apr 26, 2012 8:07am
Quoting attila
The TF that shows the top.. You can have other tops on lower TFs as well, same difference..

No mids for this. I want to see how the initial rejections play out.. They have to make HLs, then you want a momentum bar into the top, wait for pull back and long.. Or you can wait for the actual break out, and long the retest of the top, now support..
Ok thanks! What about this last few 30m. A few HL's, a momentum bar to the top (3254) and a retrace to the mid of the 30m bar (without it's wicks) at 3228. Would that make for a good long position? (if it wasn't for this pingpong game today?)
  • #634,212
  • Apr 26, 2012 8:08am Apr 26, 2012 8:08am
Support holds on 1.3226!
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  • #634,213
  • Apr 26, 2012 8:09am Apr 26, 2012 8:09am
Quoting Stretch
Ok thanks! What about this last few 30m. A few HL's, a momentum bar to the top (3254) and a retrace to the mid of the 30m bar (without it's wicks) at 3228. Would that make for a good long position? (if it wasn't for this pingpong game today?)
Don't care about m30.. the top is on H4, and H4 could go lower. I don't think it's ready for higher atm. It's a new high there.. It might take a couple of tries to break it..
  • #634,214
  • Apr 26, 2012 8:10am Apr 26, 2012 8:10am
Quoting pkimnyc
i suck at fundies. i'm just going by chart.
judging from price action, a decent retrace is needed to continue otherwise back to 3076 min
  • #634,215
  • Apr 26, 2012 8:10am Apr 26, 2012 8:10am
Quoting Schickeria
Support holds on 1.3226!
nice chart!
  • #634,216
  • Apr 26, 2012 8:11am Apr 26, 2012 8:11am
Quoting samdani786
This is the one.


10:00am USD
Pending Home Sales m/m

4.1%
1.2%
0.4%
Sorry Samdani, i didn't make it clear, i was refering to Amar's question
[quote=Amr Youssief;5612265]
i did get the home sales too from my calander which was good data so i thought the EUR should go down? but it went up so i thought the up spike may have caused by the bussiness barometer.
i am a newbie and still learning.
Thanks
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FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #634,217
  • Apr 26, 2012 8:11am Apr 26, 2012 8:11am
Quoting lebleup
Yeah...guess I'm a little too impatient. I figured that thing should have dropped like a sailor's britches back on Hotel Street in Honolulu after being out to sea for months.
after 4hr engulfing pattern formed, 15 min was forming a bottom, momentum pointing up, with 5 min bull div. need to satisfy those first. smaller tfs can tell you a lot on whats going on behind bigger tfs.
  • #634,218
  • Apr 26, 2012 8:12am Apr 26, 2012 8:12am
Do anybody see on 1M chart something ...last 10 minutes?
  • #634,219
  • Apr 26, 2012 8:12am Apr 26, 2012 8:12am
Very strong movements soon ,, i'm not surprised with that spike , i'm short and i will still short
  • #634,220
  • Apr 26, 2012 8:13am Apr 26, 2012 8:13am
Quoting SnaveForex
judging from price action, a decent retrace is needed to continue otherwise back to 3076 min
let's see.
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