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EURUSD

  • #692,221
  • Sep 14, 2012 3:57am Sep 14, 2012 3:57am
h&S pattern still valid?
  • #692,222
  • Sep 14, 2012 3:58am Sep 14, 2012 3:58am
Quoting MaxDoom
this is just low volume eating though bids around 1.3020 then you will get heavier bids around 1.30

but this is also about physcology here - bulls don't won't to cash out yet, they can't believe the move up has finished so are hanging in, big volume won't enter new longs here because of the move it has already made so we wait..... until some profit taking starts, then you get some new shorts then maybe a few stops and then you have dropped 50 pips maybe.....
then some new long entry can happen with volume and the move up can continue if that...
for everyone else except the idiot in the room......

Q1. Why would big money enter long at the top of the market after a fast move up?
A1. It doesn't

Q2. What happens when buyers dry up and get over taken by sellers?
A2. Price goes down

Q3. What happens when price stalls after a fast move up?
A3. Profit taking then some stops get taken from those that bought at the top of rise (which is why big money does not enter there see Q1) and new sellers emerge

Q4. What happens after Q3?
A4. trend players look to buy in on the pullback.


Right now that is out the way look at the attached chart.....

look at the PA from 1.305x

see how each push up has been met with a swift pull back down - that is where the big money is selling after each little rise which took longer and many more trades to get the volume and price lift (ie: smaller buys not big money)

So the pullback has already been from 50 to 25 so not much of a stretch for me to say it may get to 50 pips ie: 1.30.

As for eating through bids at 20 - I can see them on my system so not so very difficult to know they are there, another spot of course is the consolidation at 25 zone.


now you believe what you want to believe, but for me the idiot that prompts using 2000:1 leverage is the one with the problem and full of shit.
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  • #692,223
  • Sep 14, 2012 4:01am Sep 14, 2012 4:01am
Quoting divak
what TF is that?
its tick chart not tfs sorry,

this bull still going...

maybe to retest 55 if were going down from profit taking we need a double top i think
Be hopeful in a winning position, and fearful in a losing position.
  • #692,224
  • Sep 14, 2012 4:04am Sep 14, 2012 4:04am
hi bud, i am now back home. i do not normally trade friday but i am trying something new out. i wqs reading up on nicholas verdas who you mentioned. i will speak about him later when room is quieter. Happy trading
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #692,225
  • Sep 14, 2012 4:05am Sep 14, 2012 4:05am
Quoting MaxDoom
for everyone else except the idiot in the room......

Q1. Why would big money enter long at the top of the market after a fast move up?
A1. It doesn't

Q2. What happens when buyers dry up and get over taken by sellers?
A2. Price goes down

Q3. What happens when price stalls after a fast move up?
A3. Profit taking then some stops get taken from those that bought at the top of rise (which is why big money does not enter there see Q1) and new sellers emerge

Q4. What happens after Q3?
A4. trend players look to buy in on the pullback.


Right...
cool down max. never seen you in rage state
  • #692,226
  • Sep 14, 2012 4:06am Sep 14, 2012 4:06am
40 is kind of capitulation point. If it goes, we see new high.
They think they are smarter than I am.
  • #692,227
  • Sep 14, 2012 4:06am Sep 14, 2012 4:06am
Quoting MaxDoom
for everyone else except the idiot in the room......

Q1. Why would big money enter long at the top of the market after a fast move up?
A1. It doesn't

Q2. What happens when buyers dry up and get over taken by sellers?
A2. Price goes down

Q3. What happens when price stalls after a fast move up?
A3. Profit taking then some stops get taken from those that bought at the top of rise (which is why big money does not enter there see Q1) and new sellers emerge

Q4. What happens after Q3?
A4. trend players look to buy in on the pullback.


Right...

yes they are selling. no doubt abt that. they were selling yesterday around us closing as well. just some asian names pulled it higher today to sell at heights. asians are lucky in selling at heights
  • #692,228
  • Sep 14, 2012 4:07am Sep 14, 2012 4:07am
Quoting Z3iz3i
40 is kind of capitulation point. If it goes, we see new high.

how many capitulation points you want. 1.2200 to 1.3060 is enough capitulation
  • #692,229
  • Sep 14, 2012 4:08am Sep 14, 2012 4:08am
nice h&s here, should retest 1.30
  • #692,230
  • Sep 14, 2012 4:08am Sep 14, 2012 4:08am
Quoting Nachiket
how many capitulation points you want. 1.2200 to 1.3060 is enough capitulation
In these markets? Nothing is enough.
Please, just slap me around if I'm being silly ...
  • #692,231
  • Sep 14, 2012 4:11am Sep 14, 2012 4:11am
Quoting Nachiket
how many capitulation points you want. 1.2200 to 1.3060 is enough capitulation
Hehe, thats true.

Some offers at 30/31, they would reverse there at 40 and sell higher at proper level.
They think they are smarter than I am.
  • #692,232
  • Sep 14, 2012 4:11am Sep 14, 2012 4:11am
Quoting daemon_delux
In these markets? Nothing is enough.
true but i still think euro rally is done for now. max 1.31
  • #692,233
  • Sep 14, 2012 4:14am Sep 14, 2012 4:14am
Quoting divak
nice h&s here, should retest 1.30

It's not completed yet I'd say. Looks like we might get some range play .20-55
  • #692,234
  • Sep 14, 2012 4:15am Sep 14, 2012 4:15am
short from 31
Be hopeful in a winning position, and fearful in a losing position.
  • #692,235
  • Sep 14, 2012 4:16am Sep 14, 2012 4:16am
will market start shouting QE4
  • #692,236
  • Sep 14, 2012 4:19am Sep 14, 2012 4:19am
Quoting MaxDoom
for everyone else except the idiot in the room......

Q1. Why would big money enter long at the top of the market after a fast move up?
A1. It doesn't

Q2. What happens when buyers dry up and get over taken by sellers?
A2. Price goes down

Q3. What happens when price stalls after a fast move up?
A3. Profit taking then some stops get taken from those that bought at the top of rise (which is why big money does not enter there see Q1) and new sellers emerge

Q4. What happens after Q3?
A4. trend players look to buy in on the...
With who you are fighting with?
"Men who can both be right and sit tight are uncommon."
  • #692,237
  • Sep 14, 2012 4:20am Sep 14, 2012 4:20am
You seem to be thinking like a scalper? Since investing hasnt worked well for you I can see why your making the switch. Yet your ramblinig on and on with words. How about your positions? What positions are you in right now? Or would you rather just type your way into GuruShip, instead ofm aking profit as you should be doing?
He who guess is LOST!
  • #692,238
  • Sep 14, 2012 4:20am Sep 14, 2012 4:20am
Quoting Wuza
It's not completed yet I'd say. Looks like we might get some range play .20-55
looks complete to me atm
  • #692,239
  • Sep 14, 2012 4:21am Sep 14, 2012 4:21am
Quoting Mike8
Clear and crispy.

Technically though I do not see serious resistance until about 3136

I remember that you shorted a scalp @ 61.8 retracement of the small leg not long time ago,(was it yesterday or the day before? I am getting old, better than the alternative tough) which was also a confluence of 38.2 of the middle leg.

Now she is very well above those two levels and closed on the daily.

3136 is the 38.2 of the large leg which is also an intersection of the weekly DTL.

You are right it is very much psychological and TA is clearly...
indeed I did for which I was reward

http://www.forexfactory.com/showthre...29#post6005329
http://www.forexfactory.com/showthre...99#post6005599


as for resistence, I think this 1.305x is going to be tough without some pullback or consolidation which is why we are seeing such a flat zone right now -> look at the circled area on chart.

after that I see the 78% level somewhere late 1.31

I am sure there are other levels in between as well
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  • #692,240
  • Sep 14, 2012 4:22am Sep 14, 2012 4:22am
Quoting Rag2RichesFX
short from 31
I guess you took profit at 32

It may stay between 22-32 for a while until news.
They think they are smarter than I am.
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