EU Bullish pennant on 5m ?
- #690,382
- Sep 11, 2012 2:46am Sep 11, 2012 2:46am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #690,383
- Sep 11, 2012 2:50am Sep 11, 2012 2:50am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
True. But this what happen yesterday 3 bearish hourly candles (arrow) and then......Is this a bull or bear market?
however weekly attached, it is a bear market, remnant of 2008 crash
presently waiting bullls trying to get a foothold, bias is bull if when them breach first falling tl then nnext fallinng tl, will be awesome buy then
but for now, 50/50 ranging since jan 2009 sideways in decreasing triangle, for me is sell falling tl,s until breached
long rising tl,s until breached
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- #690,384
- Sep 11, 2012 2:54am Sep 11, 2012 2:54am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #690,385
- Sep 11, 2012 2:54am Sep 11, 2012 2:54am
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
On the 5min , looks like a small break out is in hand ... bring it to 650 , maybe ?!
"Men who can both be right and sit tight are uncommon."
- #690,386
- Sep 11, 2012 2:58am Sep 11, 2012 2:58am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
I think is very tricky now, I can see higher bottom and also lower tops occuring on the pivot point and on the 2796 which is marked on my chart as a level to be considered.
"It's the Margin, Stupid."
- #690,388
- Sep 11, 2012 3:01am Sep 11, 2012 3:01am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan 
- #690,391
- Sep 11, 2012 3:10am Sep 11, 2012 3:10am
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
yep agree, no real bears until breach that rising tl your chart
however weekly attached, it is a bear market, remnant of 2008 crash
presently waiting bullls trying to get a foothold, bias is bull if when them breach first falling tl then nnext fallinng tl, will be awesome buy then
but for now, 50/50 ranging since jan 2009 sideways in decreasing triangle, for me is sell falling tl,s until breached
Technically the weekly chart is showing a bear market with a huge drop and a rising wedge which is considered bearish.
But in my view this rising wedge is taking too much time, it is over extended, also I really belevie that Usa is in a bad shape and Europe is going to be the next growth.
Just a thought. And I could be absolutly wrong (you know me) and it will not be the first time.
But as you said, if she goes up the way we think there is serious money to be made.
"Men who can both be right and sit tight are uncommon."
- #690,393
- Sep 11, 2012 3:11am Sep 11, 2012 3:11am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan
- #690,394
- Sep 11, 2012 3:12am Sep 11, 2012 3:12am
- Joined Aug 2009 | Status: Trader | 12,448 Posts
Hello
Kiwi trader any ideas on NZ,seems very strong
sorry later reply bro, but nice data release
http://www.fitchratings.com/creditde...04&origin=home
has kick her up abit tonigh, plus china support, but all ladies are above my zone for today so trying to hunt pips elsewhere
aussie and kiwi data has been conflicting today and yesterday bit confusing been very slow 2 days for me bro, hope you getting green pips
If you are new to Forex? Say Goodbye to your account!!
- #690,395
- Sep 11, 2012 3:12am Sep 11, 2012 3:12am
- | Membership Revoked | Joined Jun 2012 | 1,547 Posts
If you gonna look only to EURUSD chart , it will continue the retrace down for sure ... but if you combine it with the Gold chart , it becomes confusing as hell ! The gold chart actually has formed a head and shoulders ..
Correlation does not work all the time.
"Men who can both be right and sit tight are uncommon."
- #690,397
- Sep 11, 2012 3:15am Sep 11, 2012 3:15am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
Mohan
- #690,398
- Sep 11, 2012 3:15am Sep 11, 2012 3:15am
- Joined Nov 2008 | Status: Trader | 2,177 Posts
Pending short @ 2808, Stop @ 2816, Tp1 2780, Tp2 2650
got it @ 2802 later
