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  • #636,441
  • Apr 30, 2012 8:31am Apr 30, 2012 8:31am
seems long again

right?
Don't give up
  • #636,442
  • Apr 30, 2012 8:32am Apr 30, 2012 8:32am
Quoting halkins
True... true, but not as X.Work wants to use it, I mean sell when oversold, buy when overbought... It doesn't work that way.
I have been experimenting with oscilators quite a long time, and learnt to change parameters to suit timeframe and situation on the chart.


You stated, that it is a difficult indicator for when price is consolidating (ranging). That is possibly the very best use for a stoch.

Best you can do with a stoch is scalping in a range with a MTF setup.
  • #636,443
  • Apr 30, 2012 8:33am Apr 30, 2012 8:33am
Chicago PMI in 12mins time, hopefully will push Euro out of this dull range...
  • #636,444
  • Apr 30, 2012 8:34am Apr 30, 2012 8:34am
Quoting attila
going all right, thanks man. I have 3400 for later...

http://www.forexfactory.com/showthre...47#post5617947
Nasty boy.......

That target would hurt my feelings LOL
  • #636,445
  • Apr 30, 2012 8:34am Apr 30, 2012 8:34am
Out the cable short for 32

long Euro as well now

@13223 stop below that last low.

looks like they are taking the DOW up!
rat
  • #636,446
  • Apr 30, 2012 8:34am Apr 30, 2012 8:34am
Quoting Chicky
Do they also offer "Buy one, get one 50% off" and free home delivery?
hahahahahahahahahahahah
There are no right and wrong decisions......Only timely decisions
  • #636,447
  • Apr 30, 2012 8:35am Apr 30, 2012 8:35am
Quoting infinitus
Nasty boy.......

That target would hurt my feelings LOL


It'll get there, question is how far will drop before.. H4 looks wedgy so a 3060is is not out of the question...
  • #636,448
  • Apr 30, 2012 8:36am Apr 30, 2012 8:36am
Quoting FXFundi
It will come: Month end sell off has already started.
Question is who is selling WHAT? Equities? Then they should have plenty of dollars to buy more GBP
69
  • #636,449
  • Apr 30, 2012 8:36am Apr 30, 2012 8:36am
What do you guys think of the monthly chart (seeing that today is the last day of the month)... is there any weight in looking at that?, especailly keeping an eye out for 1.3243?
  • #636,450
  • Apr 30, 2012 8:38am Apr 30, 2012 8:38am
Quoting attila


It'll get there, question is how far will drop before.. H4 looks wedgy so a 3060is is not out of the question...


On a second thought, I think that's a little too dramatic..
  • #636,451
  • Apr 30, 2012 8:38am Apr 30, 2012 8:38am
Quoting DaClan
What do you guys think of the monthly chart (seeing that today is the last day of the month)... is there any weight in looking at that?, especailly keeping an eye out for 1.3243?

10a EST option expiry @ 3200, 3250

3241 is good intraday resistance on my chart
  • #636,452
  • Apr 30, 2012 8:38am Apr 30, 2012 8:38am
Quoting attila


It'll get there, question is how far will drop before.. H4 looks wedgy so a 3060is is not out of the question...
That is what I published on Sunday



Levels update and analysis



Resistance clusters: around 3250 and 3275-3300

Support clusters: around 3175 - 3200 and 3100-3125 and 3050-3075


Last defense for bears: 3375-3425

Last defense for bulls: 3050-3075


Murrey Math and Momentum analysis:



Sunday at opening a move toward 3210 to 3229 is expected.

When this level, especially 3184 subsequently holds, I expect a move towards the 3275 to 3290 level again, with extension even to 3306, extreme 3321.

I favor 3290 to 3306.


After that a drop should occur towards the 3184 level with 3062 looming. This drop may be the game plan for Tuesday.

When 3184 after the initial drop on Sunday does not hold, watch closely 3153. If that gives way, expect a direct drop towards the 3092 zone, in case of extension 3071 to 3062.


Longs between 3210 and 3225 should offer good R:R

Shorts between 3290 and 3306 should offer good R:R



Judgement of Elliott wave:

the move up since the low at 2994 seems to be corrective in its waves and their subwaves. Trying to count this as some kind of leading diagonal up, or a series of 1-2's seems to be against probability (and to a certain extent far streched). So my believe is, that we might see soon the end of this bullish move. Maximum upside I can imagine is 3367 to 3427, but at this point it seem to be a bit far stretched.

http://www.forexfactory.com/showthre...78#post5618278
  • #636,453
  • Apr 30, 2012 8:39am Apr 30, 2012 8:39am
Quoting infinitus
You stated, that it is a difficult indicator for when price is consolidating (ranging). That is possibly the very best use for a stoch.

Best you can do with a stoch is scalping in a range with a MTF setup.
Many new traders treat oscilators like a 100% BUY/SELL signal and get burnt quickly.
I used to get burnt as well, and couldn't understand why the hell price is still going up when all oscilators are in 90-100 range, you know what I mean?
Read Charts - Not Papers
  • #636,454
  • Apr 30, 2012 8:40am Apr 30, 2012 8:40am
for me is's a short
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  • #636,455
  • Apr 30, 2012 8:41am Apr 30, 2012 8:41am
Quoting halkins
Many new traders treat oscilators like a 100% BUY/SELL signal and get burnt quickly.
I used to get burnt as well, and couldn't understand why the hell price is still going up when all oscilators are in 90-100 range, you know what I mean?

Yup, I know - then you had cought a trend rather a range, or used the wrong TF to judge the range. (at least I think)
  • #636,456
  • Apr 30, 2012 8:42am Apr 30, 2012 8:42am
Right. I've seen it. It is valid, and it's within what I see too.. 3060ish-3400...

Quoting infinitus
That is what I published on Sunday



Levels update and analysis



Resistance clusters: around 3250 and 3275-3300

Support clusters: around 3175 - 3200 and 3100-3125 and 3050-3075


Last defense for bears: 3375-3425

Last defense for bulls: 3050-3075


Murrey Math and Momentum analysis:



Sunday at opening a move toward 3210 to 3229 is expected.

When this level, especially 3184 subsequently holds, I expect a move towards the 3275 to 3290 level again, with extension even to 3306, extreme 3321.

I favor 3290 to...
  • #636,457
  • Apr 30, 2012 8:43am Apr 30, 2012 8:43am
Quoting infinitus
That is what I published on Sunday



Levels update and analysis



Resistance clusters: around 3250 and 3275-3300

Support clusters: around 3175 - 3200 and 3100-3125 and 3050-3075


Last defense for bears: 3375-3425

Last defense for bulls: 3050-3075


Murrey Math and Momentum analysis:



Sunday at opening a move toward 3210 to 3229 is expected.

When this level, especially 3184 subsequently holds, I expect a move towards the 3275 to 3290 level again, with extension even to 3306, extreme 3321.

I favor 3290 to 3306.


After that a drop...

on my larger TF 3334 is good resistance
  • #636,458
  • Apr 30, 2012 8:47am Apr 30, 2012 8:47am
In 15 min time 4H candle will be closed...
Heh, looking pretty funny now, have a look on your chart.
If closed above it's OPEN price it will generate a strong bullish signal.
Read Charts - Not Papers
  • #636,459
  • Apr 30, 2012 8:48am Apr 30, 2012 8:48am
I see this pair in rangebound situation between 3250-3260 levels and 3200 until the close of the EUR session.

Nothing major will happen according to my calculations till 11:30 AM

But lets see

Main trend is targeting 2800-2900 levels. Wont go long on this thing at all, its in the situation of August 29th of 2011, and its too dangerous in my opinion to long this thing.
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  • #636,460
  • Apr 30, 2012 8:48am Apr 30, 2012 8:48am
playing with 3230 resistance

in a few it will break it to attack the top
Don't give up
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