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  • #648,041
  • May 26, 2012 4:16pm May 26, 2012 4:16pm
im talking daily my friend not H1 ,
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #648,042
  • May 26, 2012 4:32pm May 26, 2012 4:32pm
Quoting Bones
im talking daily my friend not H1 ,
It doesn't matter what you were talking. A retrace is just that, A RETRACE no matter what time frame you're looking at. The price is the same on whatever time frame you're looking at.
You might not see a 200 or 100 pip retrace as that at all. I would have to disagree

Strange how that works I guess.

Don't get me wrong, I like to question and observe.

In essence you're defining a trading method/strategy (longer term). Not everyone trades that way.

So really, to say that EUR will not retrace is erroneous, don't you think?
When the Joker is in the deck.. fear not and play it well
  • #648,043
  • May 26, 2012 4:36pm May 26, 2012 4:36pm
Quoting Slim Buffett
It doesn't matter what you were talking. A retrace is just that, A RETRACE no matter what time frame you're looking at. The price is the same on whatever time frame you're looking at.
You might not see a 200 or 100 pip retrace as that at all. I would have to disagree

Strange how that works I guess.

Don't get me wrong, I like to question and observe.

In essence you're defining a trading method/strategy (longer term). Not everyone trades that way.

So really, to say that EUR will not retrace is erroneous, don't you think?
I guess it will retrace after it hits 1.225 and maybe close the gap at 1.3080. Technical analysis can sometimes do nothing when the fundamental is too bad in the Eurozone
  • #648,044
  • May 26, 2012 4:45pm May 26, 2012 4:45pm
Quoting mka_78
I guess it will retrace after it hits 1.225 and maybe close the gap at 1.3080. Technical analysis can sometimes do nothing when the fundamental is too bad in the Eurozone
So you're suggesting that it will go straight down from 1.25 to 1.225 with nothing more than a 25 or 50 pip retrace ? Please advise.
When the Joker is in the deck.. fear not and play it well
  • #648,045
  • May 26, 2012 4:52pm May 26, 2012 4:52pm
Quoting Slim Buffett
So you're suggesting that it will go straight down from 1.25 to 1.225 with nothing more than a 25 or 50 pip retrace ? Please advise.
I am not suggesting, just guessing.
take a look at that. Interesting.
http://www.forexfactory.com/showthre...35#post5701935
  • #648,046
  • May 26, 2012 4:57pm May 26, 2012 4:57pm
Quoting mka_78
I guess it will retrace after it hits 1.225 and maybe close the gap at 1.3080. Technical analysis can sometimes do nothing when the fundamental is too bad in the Eurozone
ta's been doing fine.
  • #648,047
  • May 26, 2012 5:02pm May 26, 2012 5:02pm
Quoting Purple
Thanks, Chess king.. I will check it out..!!
sorry now that I saw was not equal to ihforex MIGBANK
with MT4 do not know any so I just saw the same in prorealtime.com but not MT4 workstation!
sorry was not at home to see if it was equal....
  • #648,048
  • May 26, 2012 5:04pm May 26, 2012 5:04pm
Quoting mka_78
I am not suggesting, just guessing.
take a look at that. Interesting.
http://www.forexfactory.com/showthre...35#post5701935
I can only say that it's best not to guess. Form your own opinion made up of your own analysis. The more you do this the better you will become at it.

Anyway that's enough said
I'm gon'na go get laid
Come Tuesday the World will all be roses

....and all this shit will start again

Take some time off and enjoy the fruits of your labor.
When the Joker is in the deck.. fear not and play it well
  • #648,049
  • May 26, 2012 5:12pm May 26, 2012 5:12pm
Quoting Slim Buffett
I can only say that it's best not to guess. Form your own opinion made up of your own analysis. The more you do this the better you will become at it.

Anyway that's enough said
I'm gon'na go get laid
Come Tuesday the World will all be roses

....and all this shit will start again

Take some time off and enjoy the fruits of your labor.
I am already short from 1.32 and tp 1.19, that was my analysis before
  • #648,050
  • May 26, 2012 5:30pm May 26, 2012 5:30pm
Quoting Slim Buffett
So you're suggesting that it will go straight down from 1.25 to 1.225 with nothing more than a 25 or 50 pip retrace ? Please advise.
Quoting mka_78
I am already short from 1.32 and tp 1.19, that was my analysis before
That's way cool. As I suggested, enjoy the fruits of your labor.

That does not however, answer my original question. When you take some time to understand the question perhaps you can provide an answer.

If you think you already have ALL the answers you can provide them to me in the not-so-distant-future.

As I tried to state earlier...... well, never mind


GoodBye
When the Joker is in the deck.. fear not and play it well
  • #648,051
  • May 26, 2012 6:05pm May 26, 2012 6:05pm
before, and now
continuation is in sight ....
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  • #648,052
  • May 26, 2012 8:08pm May 26, 2012 8:08pm
Quoting sciumi
i have open long at 1.2519
what i can do?
Go back to your trading board and ask yourself?

1. Why did I take a long position?
2. Is this according to my plan?

I assume you are a new trader, before you EVER take a position, you should know why and know the exits (SL or TP) before you enter into a trade. That way, you wouldn't be asking people in the internet what to do.
Fear prevent possibilities, and so does Greed
  • #648,053
  • May 26, 2012 8:43pm May 26, 2012 8:43pm
1.2383 here we come?
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Time turns trend. - W.D. Gann
  • #648,054
  • May 26, 2012 9:14pm May 26, 2012 9:14pm
Or not?
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Time turns trend. - W.D. Gann
  • #648,055
  • May 26, 2012 11:07pm May 26, 2012 11:07pm
Quoting fxjawn
i assure u the moves on sunday aka monday in other parts of the world are not the "dumb" ppl as u so eloquently put it... these are the ppl getting positioned to run the "dumb" ppl over..

also when the gaps are normally formed it is no longer the weekend... its the pre market and open of the aussie and asian markets
you're right. that's not dumb money moving price over the weekend. since the interbank is always open, banks make settlements and transfers inside and outside of regular retail market hours.

a real gap is actually large orders being filled at a rate too fast to register on a standard timeframe chart, but if you look at a nanex chart, you can see how this trading takes place in fractional seconds. (here's a silver nanex chart that demonstrates this type of move exactly. the entire price action on this chart represents a half second of trading.)

The weekend gap that people are discussing here is a deficit of MT4 charts being switched off at New York close on Friday and being switched back on at Wellington open on Monday. It's simply missing the candles that were traded while their broker was offline.

Some people see this as tradable phenomena, but it's no different than any other support or resistance move which can be traded where you can actually see the candles. Sometimes SR gets tested in a short time period, sometimes it doesn't.

If you follow this train of thought to it's logical conclusion, then it might make sense to develop software which removes blocks of information during the trading week too. that way weekend gap traders can take similar probability trades during regular hours as well.


Quoting Bones
Just wondered did you trade candles yourself ?
absolutely. candles are the most accurate and least lagging indicator we have available to us to determine price action, which is why other indicators aren't really necessary once you learn how to trade them properly.
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  • #648,056
  • May 26, 2012 11:35pm May 26, 2012 11:35pm
Quoting Fudomyo


absolutely. candles are the most accurate and least lagging indicator we have available to us to determine price action, which is why other indicators aren't really necessary once you learn how to trade them properly.
key words.
  • #648,057
  • May 26, 2012 11:43pm May 26, 2012 11:43pm
Fudomyo, while you are correct about the "no gaps" technically speaking... any move in the "post/pre market weekend hours" occurs on relatively low liquidity.

As asia opens, and more traders get involved, these "lower liquidity price ranges" tend to see price cut right through them back towards the closing price on friday, on account of their being relatively few stop/limit orders in that price range ( because relatively few people participated in the move in the first place)

So, while price didn't literally "gap" above or below another price, it did move on lower than average volume...and price will take the path of least resistance right back through that range of relatively few orders.

X
  • #648,058
  • May 27, 2012 12:04am May 27, 2012 12:04am
I swear, every week there is a debate about gaps being closed

What is the logic behind why gaps must be closed? I've yet to hear anything that makes sense.

The market might take price 700 pips the other way, then a month later come back and 'close the gap'. Some people will still claim this is because "the gap must be filled", but it's really no better than picking a random point on the chart and saying "eventually price will go there" - it might, in a few months...

Currencies oscillate, they might close the gap, but it's not something that must happen.
"Don't Panic..."
  • #648,059
  • May 27, 2012 12:11am May 27, 2012 12:11am
Quoting Halifax
I swear, every week there is a debate about gaps being closed

What is the logic behind why gaps must be closed? I've yet to hear anything that makes sense.

The market might take price 700 pips the other way, then a month later come back and 'close the gap'. Some people will still claim this is because "the gap must be filled", but it's really no better than picking a random point on the chart and saying "eventually price will go there" - it might, in a few months...

Currencies oscillate, they might close the gap, but it's not...
Do you see something here. Let me post several more charts. But I don't say gaps are ultimately filled. They are just major support/resistances. Price generally (and not always) re-tests once it breaks a support or resistance. If someone refers to it as filling of the gap, that's not our problem.

http://www.forexfactory.com/attachme...1&d=1337750115
The Thief of Wall Street
  • #648,060
  • May 27, 2012 12:16am May 27, 2012 12:16am
Quoting Chicky
Do you see something here. Let me post several more charts. But I don't say gaps are ultimately filled. They are just major support/resistances. Price generally (and not always) re-tests once it breaks a support or resistance. If someone refers to it as filling of the gap, that's not our problem.
One more:

http://www.forexfactory.com/attachme...1&d=1318317371
The Thief of Wall Street
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