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  • #1,541
  • Aug 13, 2012 10:15am Aug 13, 2012 10:15am
Quoting FXMindset
watch 1.2337
1.2337 is the hourly open support - now tested,if break it we might see resume down (pullback) with 4h almost close in making pinbar we might see hourly support breaking down after london close

here the current formation

I am left my short open for this possible reversal scenario

Until then..


GL
Attached Image (click to enlarge)
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If there was easy money lying around,no one would be forcing it into your
  • #1,542
  • Aug 13, 2012 3:05pm Aug 13, 2012 3:05pm
Quoting jezek5
Hey guys,hope all is well.
50% pullback putting the brakes on any more
up movement so far.

Hello,link posted last wednesday along with this first chart,
pink line held the down move on the daily closing front,red arrow placed
right where the pin formed(lucky).
Looking like we could test the upper level again and see from there.
Sell the blue line and buy the pink.
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You can remain irrational longer than you can remain solvent.
  • #1,543
  • Aug 13, 2012 3:11pm Aug 13, 2012 3:11pm
I've added a new fork to my DX chart,placed when price
was at the new vertical aqua line ,don't even know if
i'm drawing these forking things right but lets see how this plays out.
Good trading guys.
Attached Image (click to enlarge)
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You can remain irrational longer than you can remain solvent.
  • #1,544
  • Aug 13, 2012 3:36pm Aug 13, 2012 3:36pm
Quoting jezek5
Hello,link posted last wednesday along with this first chart,
pink line held the down move on the daily closing front,red arrow placed
right where the pin formed(lucky).
Looking like we could test the upper level again and see from there.
Sell the blue line and buy the pink.
I was wondering where you've been lately?
great call as usual

eu au and xauusd been predictably ranging.
Wooooohooooo or Boooooohooooo
  • #1,545
  • Aug 13, 2012 4:00pm Aug 13, 2012 4:00pm
Quoting gnomoneey
I was wondering where you've been lately?
great call as usual

eu au and xauusd been predictably ranging.

Thanks Gno,
I've just been forking around mate.
Good to see ya.
You can remain irrational longer than you can remain solvent.
  • #1,546
  • Aug 13, 2012 4:09pm Aug 13, 2012 4:09pm
Quoting jezek5
Thanks Gno,
I've just been forking around mate.
Good to see ya.
Jezek5,
can you give me your opinion on audusd?
thanks,
G
Wooooohooooo or Boooooohooooo
  • #1,547
  • Aug 13, 2012 7:29pm Aug 13, 2012 7:29pm
Still hanging in there with EUR USD ... Stops to BE ... Mean while , AUD CHF trade developed into nice one .... SNR rocks
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Human
  • #1,548
  • Aug 13, 2012 11:12pm Aug 13, 2012 11:12pm
Quoting FXMindset
1.2337 is the hourly open support - now tested,if break it we might see resume down (pullback) with 4h almost close in making pinbar we might see hourly support breaking down after london close

here the current formation

I am left my short open for this possible reversal scenario

Until then..


GL
Short closed
Today might still bullish day


Amen
If there was easy money lying around,no one would be forcing it into your
  • #1,549
  • Aug 14, 2012 12:45am Aug 14, 2012 12:45am
Good Morning all,

I find it helpful to use the daily chart everyday to see the big picture by stepping back away from the sometimes myopic straightjacket we can get fooled into when looking only at day trading time frames.

The possible wave counts have shifted again after yesterday's impressive EURO day. Take a look at EUR/AUD.... THAT'S impressive.

I have removed the wave counts from my daily EURUSD chart, and instead will focus on the most clear picture the daily provides , that of a Head and Shoulders formation, that has come back down, tested and bounced at a critical level.

Monday's candle portends upside today, unless we get sunk by German GDP data, or ZEW survey later in the morning. Conversely should we head lower off the data, the same candle gives us a very clear technical picture of a Head ans shoulders breakout that has failed.

As you will hear me preach over and over, a large part of why TA works is that many traders see the same thing, and react the same way to it. This keeps me asking... what would a Ten year old see in this chart.... what's the simplest, clearest picture it provides?

Limit buy order placed at 1.2351 at start of my trade day, hoping for a fill on the Frankie dip... but may take it off if still not filled ahead of data.... and enter after.
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  • #1,550
  • Aug 14, 2012 1:34am Aug 14, 2012 1:34am
Quoting Crassius
Limit buy order placed at 1.2351
Order canceled.. missed it.....

Risk/Reward scenario is tight here... there are offers at 2370 and 2380-85.... Risk/Reward is the only Holy Grail that exists... and its tight in this very low ATR environment. C

I will continue to look for an entry, but need to see the price action rather than have a resting order sitting now that we have moved 20 pips higher than my limit order...
  • #1,551
  • Aug 14, 2012 3:38am Aug 14, 2012 3:38am
Quoting gnomoneey
Jezek5,
can you give me your opinion on audusd?
thanks,
G

Weekly and daily.
Stating the bleeding obvious but we're in an up trend.
It looks like it could test 1.07,that upper trend line,and
see what kind of reaction we get then.
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You can remain irrational longer than you can remain solvent.
  • #1,552
  • Aug 14, 2012 3:57am Aug 14, 2012 3:57am
ZEW on tap... but more important will be Greek Bond Auction bid to cover ratio... may be some fuel either way for EU... hold on to your pants
  • #1,553
  • Aug 14, 2012 4:19am Aug 14, 2012 4:19am
Soft bid to cover ratio for Greek debt auction 1.3 vs 2.12 last time out.... cover softer but they did sell more than they were trying so mixed results.... increased size may mitigate soft cover
  • #1,554
  • Aug 14, 2012 4:48am Aug 14, 2012 4:48am
After holding the 50% in June, 1425 level now firmly in sight.
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You can remain irrational longer than you can remain solvent.
  • #1,555
  • Aug 14, 2012 5:13am Aug 14, 2012 5:13am
good morning

EU is at 200 EMA, 5 min chart, lets see if it bounces, I'm short @2382
  • #1,556
  • Aug 14, 2012 5:21am Aug 14, 2012 5:21am
Price absolutelly bullish on TA side,as we can see that daily candle was break the weekly pivot on yesterday and we open above the WP for today

how much we can go higher ? I'm absolutely dont know..but am wish more higher more better


amen
If there was easy money lying around,no one would be forcing it into your
  • #1,557
  • Aug 14, 2012 5:31am Aug 14, 2012 5:31am
Quoting FXMindset
Price absolutelly bullish on TA side,as we can see that daily candle was break the weekly pivot on yesterday and we open above the WP for today

how much we can go higher ? I'm absolutely dont know..but am wish more higher more better


amen
in other side last week thursday high was hold now as resistance
If there was easy money lying around,no one would be forcing it into your
  • #1,558
  • Aug 14, 2012 6:12am Aug 14, 2012 6:12am
Its too early yet, but 4h candle looks pretty bear, isn't it?
  • #1,559
  • Aug 14, 2012 6:20am Aug 14, 2012 6:20am
Quoting FxCba
Its too early yet, but 4h candle looks pretty bear, isn't it?

Way to soon to say yet,nothing more than an inside bar at present,
still looks bullish so far IMO,crappy August price action as usual.
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You can remain irrational longer than you can remain solvent.
  • #1,560
  • Aug 14, 2012 6:22am Aug 14, 2012 6:22am
Quoting FXMindset
in other side last week thursday high was hold now as resistance
If talk about Formation
1H : ascending channel
4H : ascending channel
D1 : Triangle Formation ( need to confirm ) Valid one price might reach max 1.24

We might 1.231 or 32 on NY today,based on the current formation we might restest that area and going up to complete the hourly channel & triangle on D1 "If Valid"
If there was easy money lying around,no one would be forcing it into your
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