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  • #692,921
  • Sep 16, 2012 6:59pm Sep 16, 2012 6:59pm
Fair amount of volatility on Monday even with Japan Bank Holiday.
  • #692,922
  • Sep 16, 2012 7:01pm Sep 16, 2012 7:01pm
Quoting CoolJL
Fair amount of volatility on Monday even with Japan Bank Holiday.
Yes hysteria at his peak.
"Men who can both be right and sit tight are uncommon."
  • #692,923
  • Sep 16, 2012 7:08pm Sep 16, 2012 7:08pm
Increase in volatility can signal possible reversal ahead, but I'm gonna wait for a large reversal daily candlestick pattern before looking to short, lost too much tryinig to short without waiting for a proper reversal signals during last 3 weeks (learnt my lesson!).
  • #692,924
  • Sep 16, 2012 7:09pm Sep 16, 2012 7:09pm
might looking to retest the high since 3100 remain a support level...

forced to closed my friday short for 15+...

may reload later when signal comes...
Patience, Emotion Control and Discipline.
  • #692,925
  • Sep 16, 2012 7:09pm Sep 16, 2012 7:09pm
all other currencies are flat.
  • #692,926
  • Sep 16, 2012 7:10pm Sep 16, 2012 7:10pm
Quoting johncen
might looking to retest the high since 3100 remain a support level...

forced to closed my friday short for 15+...

may reload later when signal comes...
fake move. 1.3150 will cap it till london opens.
  • #692,927
  • Sep 16, 2012 7:11pm Sep 16, 2012 7:11pm
Just one view:

She broke the weekly DTL (blue) the way up encouraging the bulls, then she reversed and trading below (trapping the bulls).

Now there is the 4h UTL (orange) that may find support (I bit too steep tough )

If she does bounce from there or just break it to cross back above both of the TL's, a failure of a fail break out will occur. (which are very powerful in my humble view.

Now back to the garden
Attached Image (click to enlarge)
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"Men who can both be right and sit tight are uncommon."
  • #692,928
  • Sep 16, 2012 7:12pm Sep 16, 2012 7:12pm
Quoting CoolJL
Increase in volatility can signal possible reversal ahead, but I'm gonna wait for a large reversal daily candlestick pattern before looking to short, lost too much tryinig to short without waiting for a proper reversal signals during last 3 weeks (learnt my lesson!).
"Men who can both be right and sit tight are uncommon."
  • #692,929
  • Sep 16, 2012 7:13pm Sep 16, 2012 7:13pm
Quoting Nachiket
fake move. 1.3150 will cap it till london opens.

yes wil start reload near 3150 area...but will wait for signal
Patience, Emotion Control and Discipline.
  • #692,930
  • Sep 16, 2012 7:16pm Sep 16, 2012 7:16pm
Quoting johncen

yes wil start reload near 3150 area...but will wait for signal
ok I am reloaded at 1.3130. the most optimistic target of brokerages is 1.33 for the year end and we still have 3.5 months to go.
  • #692,931
  • Sep 16, 2012 7:17pm Sep 16, 2012 7:17pm
Expect to see one giant candle that covers the whole days range today
Founder of Sutherland Wave Principle
  • #692,932
  • Sep 16, 2012 7:18pm Sep 16, 2012 7:18pm
Quoting Mike8
Just one view:

She broke the weekly DTL (blue) the way up encouraging the bulls, then she reversed and trading below (trapping the bulls).

Now there is the 4h UTL (orange) that may find support (I bit too steep tough )

If she does bounce from there or just break it to cross back above both of the TL's, a failure of a fail break out will occur. (which are very powerful in my humble view.

Now back to the garden
Yes right. trapping the bulls in this fake spike.
  • #692,933
  • Sep 16, 2012 7:19pm Sep 16, 2012 7:19pm
Quoting suthmo
Expect to see one giant candle that covers the whole days range today
which side u want the candle to be. tell me your wish.
  • #692,934
  • Sep 16, 2012 7:21pm Sep 16, 2012 7:21pm
Quoting Nachiket
ok I am reloaded at 1.3130. the most optimistic target of brokerages is 1.33 for the year end and we still have 3.5 months to go.
used to have short from 1.3155...
will hold it if we break 1.31 but due to Japan holiday we failed to achieve this...
as long as no close above 3150 area I am ok to keep on shorting this pair..
3130 good area..now I have 40 maybe ..or we retest the high...

I may stay sideline until we retest the high or break 1.31...
Patience, Emotion Control and Discipline.
  • #692,935
  • Sep 16, 2012 7:25pm Sep 16, 2012 7:25pm
Quoting johncen
used to have short from 1.3155...
will hold it if we break 1.31 but due to Japan holiday we failed to achieve this...
as long as no close above 3150 area I am ok to keep on shorting this pair..
3130 good area..now I have 40 maybe ..or we retest the high...

I may stay sideline until we retest the high or break 1.31...
you can reload new today's low. this range trading will not be there once london opens.
  • #692,936
  • Sep 16, 2012 7:27pm Sep 16, 2012 7:27pm
Quoting Nachiket
you can reload new today's low. this range trading will not be there once london opens.
also i am watching at usd/cad for indications on how weak the usd is and that seems to be bottoming out. so I am sure usd will rally a bit today. bernanke has fucked it so hard that it may take months for the usd rally to reverse.
  • #692,937
  • Sep 16, 2012 7:27pm Sep 16, 2012 7:27pm
Quoting Nachiket
you can reload new today's low. this range trading will not be there once london opens.

I hope we retest the high...
So i can reload at higher level...

I admit that i m a bit too greedy..
but it feels good to short from the top isnt it?
Patience, Emotion Control and Discipline.
  • #692,938
  • Sep 16, 2012 7:28pm Sep 16, 2012 7:28pm
Quoting Mike8
Just one view:

She broke the weekly DTL (blue) the way up encouraging the bulls, then she reversed and trading below (trapping the bulls).
If you are looking at a weekly chart then you have either

a) wait for the weekly close or b) make assumptions.

I only look at weekly/monthly for longterm picture but trade on H1, H4 and daily. Makes it easy to make lots more assumptions and sooner too.
  • #692,939
  • Sep 16, 2012 7:29pm Sep 16, 2012 7:29pm
Quoting Rag2RichesFX
another tl break fakeout

enough posting for now, might post some during london

what would you do in this scenario? redraw the trendline touching the new bottom, or touching the lowest body where the trendline does not pierce any other bodies (but piercing tails is fine)?

or would you leave it as is?

curious as ive seen it done all ways and couldn't tell you which one is valid. sometimes i redraw lines, sometimes i leave them the same.
I would do both. Kind of like a fan. Then if and when price breaks the one trend line, then you'll see it stop on the next line, before deciding what to do next. It's worked for me. That whole Gann angle type thing, where S/R isn't just with horizontal lines, but also lines on an angle. It works with connecting tops in a downtrend, too. Then combine the two, and watch how price reacts to it. And if it pierces through the first time, but doesn't break it, then I keep that in mind for the next time it revisits that line. Now I'm waiting for price to touch the trend line below to see what it does next.
Attached Image (click to enlarge)
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Time turns trend. - W.D. Gann
  • #692,940
  • Sep 16, 2012 7:31pm Sep 16, 2012 7:31pm
Have couple of long entries at 1.3113, gonna put a break even stop, get some sleep and see what happens.
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