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  • #8,201
  • Aug 29, 2012 9:26pm Aug 29, 2012 9:26pm
Quoting gnomoneey
look at h4 that just finished almost six hours
you had a bearish engulfing candle formed and this current candle is confirmation for now ...if it closes in 2.5hrs from now below monthly then we are continuing down to at least daily s1 1.0340 and lower tl support. from there we might bounce for the third time or it might gofurther down to daily s2 1.0320.
it looks like we might range for a couple of days for now....having 1.037x as the median price...
but what do i know... Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1346190110 (http://www.forexfactory.com/attachment.php?attachmentid=1028104&d=1346190110)...
24 hrs ago above
current chart below
Attached Image (click to enlarge)
Click to Enlarge Name: auh44.gif Size: 32 KB
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  • #8,202
  • Aug 29, 2012 9:27pm Aug 29, 2012 9:27pm
1.0320 achieved expecting a bounce or a "fandango" before reaching 1.0284.

Attached Image


Attached Image
  • #8,203
  • Aug 29, 2012 9:37pm Aug 29, 2012 9:37pm
Quoting tunera
Same in audusd, the divergences are there.

Plus, we have an AB=CD pattern already formed, many clues that give more power to the bullish-trend-resume hypotesis, what can we do, let's wait and see..

Daytrader don't give up!
Hi Tunera,

The problem that I have in attacking at the current level is the Bearish Daily divergence, which I see taking PA down to the 1.02 level. So I just don't want to jump in too soon, this could well mean that I miss the move, but one thing about Forex is there is always another setup which will meet my rules.

July & August have not really suited my trading style because of the poor volume and no real impulse moves, so I will be glad when this holiday period is over.
Some people say I'm lucky, but the more I practice the luckier I get
  • #8,204
  • Aug 29, 2012 9:39pm Aug 29, 2012 9:39pm
Quoting irfandbl
1.0320 achieved expecting a bounce or a "fandango" before reaching 1.0284.

Attachment

Attachment
can i ask a question as how you came up with your point of reference? where points and date you use the fib from o to 100?

btw we are seeing same thing but im using fib, pivot points and my 3 moving averages
Wooooohooooo or Boooooohooooo
  • #8,205
  • Aug 29, 2012 9:41pm Aug 29, 2012 9:41pm
Quoting Robot Trader
Hi Tunera,

The problem that I have in attacking at the current level is the Bearish Daily divergence, which I see taking PA down to the 1.02 level. So I just don't want to jump in too soon, this could well mean that I miss the move, but one thing about Forex is there is always another setup which will meet my rules.

July & August have not really suited my trading style because of the poor volume and no real impulse moves, so I will be glad when this holiday period is over.
Very interesting point, the daily chart in fact was under divergence for almost 2 months, now the daily chart macd stand at 0 level,divergence can be considered to be concluded, however as you point out, the risk of further losses is present, top and bottom pickings always bring risk, but after all any kind of trade bring risks, good point by the way
  • #8,206
  • Aug 29, 2012 9:52pm Aug 29, 2012 9:52pm
Quoting tunera
Very interesting point, the daily chart in fact was under divergence for almost 2 months, now the daily chart macd stand at 0 level,divergence can be considered to be concluded, however as you point out, the risk of further losses is present, top and bottom pickings always bring risk, but after all any kind of trade bring risks, good point by the way
I guess this depends on the rules that you follow for trading divergence, for me the divergence is not complete until it reaches the level it first started.

I have shown the MACD histogram with a sloping red line the high point is where the divergence started, so for me PA should at least come down to this level again.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily divergence 30 08 12.jpg Size: 172 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #8,207
  • Aug 29, 2012 9:55pm Aug 29, 2012 9:55pm
Quoting gnomoneey
can i ask a question as how you came up with your point of reference? where points and date you use the fib from o to 100?

btw we are seeing same thing but im using fib, pivot points and my 3 moving averages
stochastics and candlesticks mate, fib helps too sometimes
  • #8,208
  • Aug 29, 2012 9:58pm Aug 29, 2012 9:58pm
Quoting irfandbl
stochastics and candlesticks mate, fib helps too sometimes
can you kindly post a chart with those targets on your chart unless you already did then post the page number. just trying to understand and learn how you analyzing and coming up with your targets.

many thanks in advance
G
Wooooohooooo or Boooooohooooo
  • #8,209
  • Aug 29, 2012 10:03pm Aug 29, 2012 10:03pm
After carrying the Bull all the way down from the hilltop, the Bear is getting exhausted .........

Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.
Attached Image (click to enlarge)
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daddybearforex. com
  • #8,210
  • Aug 29, 2012 10:03pm Aug 29, 2012 10:03pm
Further to my last post, it could be said that the high point of the histogram already did its job in bringing PA back down much earlier (based on continuing divergence) and therefore the second high point (which I have marked) is where the current divergence started and PA is now at that level.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily take 2 divergence 30 08 12.jpg Size: 172 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #8,211
  • Aug 29, 2012 10:04pm Aug 29, 2012 10:04pm
btw we are currently now on bottom tl support so a bounce up to 1.033x max or close below daily s1 1.0316 we go to 1.029x
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  • #8,212
  • Aug 29, 2012 10:14pm Aug 29, 2012 10:14pm
Quoting gnomoneey
can you kindly post a chart with those targets on your chart unless you already did then post the page number. just trying to understand and learn how you analyzing and coming up with your targets.

many thanks in advance
G
no problem buddy,
I usually don't use the chart(s) to show the targets, because I usually input the numbers (highest and lowest from candlesticks) into an excel sheet to be calculated and excel will give me the targets/points that I can save so that I can use them later on.

But as I have mentioned earlier that fib helps too, sometimes I use it for a quick check, so here are some of them

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #8,213
  • Aug 29, 2012 10:25pm Aug 29, 2012 10:25pm
Quoting irfandbl
no problem buddy,
I usually don't use the chart(s) to show the targets, because I usually input the numbers (highest and lowest from candlesticks) into an excel sheet to be calculated and excel will give me the targets/points that I can save so that I can use them later on.

But as I have mentioned earlier that fib helps too, sometimes I use it for a quick check, so here are some of them

Attachment

Attachment
ok you use 70 stoch as your point 0 and when it goes to 50 stoch you draw your match 50 fib to that candle...interesting....
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  • #8,214
  • Aug 29, 2012 10:34pm Aug 29, 2012 10:34pm
Quoting gnomoneey
ok you use 70 stoch as your point 0 and when it goes to 50 stoch you draw your match 50 fib to that candle...interesting....
yup, funny and weird isn't it?

actually it's not 70 stoch, it's the highest value of stochastic above 70 that I use for point 0

if it's aiming north than it's the lowest value of stochastic bellow level 30 that I use for point 0
  • #8,215
  • Aug 29, 2012 10:35pm Aug 29, 2012 10:35pm
Quoting irfandbl
yup, funny and weird isn't it?

actually it's not 70 stoch, it's the highest value of stochastic above 70 that I use for point 0

if it's aiming north than it's the lowest value of stochastic bellow level 30 that I use for point 0
what is this system called?
Wooooohooooo or Boooooohooooo
  • #8,216
  • Aug 29, 2012 10:40pm Aug 29, 2012 10:40pm
Quoting gnomoneey
what is this system called?
I don't know, stochastics and candlesticks maybe? You can call it whatever your want lol
  • #8,217
  • Edited 10:56pm Aug 29, 2012 10:44pm | Edited 10:56pm
Quoting irfandbl
I don't know, stochastics and candlesticks maybe? You can call it whatever your want lol
cool thanks....
looking at xauusd and its starting to look interesting.
could range from 1633-1658
at least if its dropping 1647 and maybe a bounce
a close below weekly pivot 1652 will get 1647
very interesting ....
Attached Image (click to enlarge)
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  • #8,218
  • Aug 29, 2012 10:48pm Aug 29, 2012 10:48pm
Quoting irfandbl
I don't know, stochastics and candlesticks maybe? You can call it whatever your want lol
Did you make up this system yourself?

I tend to take the low or high and then wait for a correction and see if that lines up with the 23.6 or 38.2 and then take it from there.
Some people say I'm lucky, but the more I practice the luckier I get
  • #8,219
  • Aug 29, 2012 10:51pm Aug 29, 2012 10:51pm
Quoting irfandbl
yup, funny and weird isn't it?

actually it's not 70 stoch, it's the highest value of stochastic above 70 that I use for point 0

if it's aiming north than it's the lowest value of stochastic bellow level 30 that I use for point 0
Interesting - you obviously have bagged many a pips to continue using it. Thanks for the education and sharing.
In The End It is Always OK. If It Is Not OK Then It Is Not The End.
  • #8,220
  • Aug 29, 2012 11:09pm Aug 29, 2012 11:09pm
Quoting DaddyBear
After carrying the Bull all the way down from the hilltop, the Bear is getting exhausted .........

Attention: DaddyBear's cartoons are not indicators, please do not apply them to your charts because they won't fit anyway.

How much farther down the hill will the bear go in your view. The markets never go up or down forever, so what is your forcast for when your sleeping bull will wake up?
Luck has no place in trading. Leave that for the poker table.
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