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  • #694,081
  • Sep 18, 2012 8:21pm Sep 18, 2012 8:21pm
There's not much volume in the market, as always during asian tradinghours. The bears won the day, but at the moment it looks bullish to me. Not fantastic bullish, but bullish.
  • #694,082
  • Sep 18, 2012 8:21pm Sep 18, 2012 8:21pm
Quoting Quickiepip
I wish I could do some of the fancy chart reading most of the people on here do.

I don't see it going any lower... I'm still looking for a bounce to 3110 area based on supply and demand H4

I see the long wicks there going back to Friday on H4 (which I recognize as genuine supply), and I see the support around 3050 which looks like it could give way at any moment. I don't see anything that looks like demand though.

I'm not a candlestick expert, could you explain the demand part?
  • #694,083
  • Sep 18, 2012 8:27pm Sep 18, 2012 8:27pm
Quoting John Gray
Well given you have said that it's a tick in my books

Maybe our bears will finally come through Kiwi?

good lord no bro, I wrong as often as right
kiwi cable and eu was sideways yesterday, I feel a@ resistance, today or tomorrow, them may move, big yen data today could kick start

edit kiwi geppy and aussie is making move now bbl
If you are new to Forex? Say Goodbye to your account!!
  • #694,084
  • Sep 18, 2012 8:32pm Sep 18, 2012 8:32pm
Quoting KiwiTrada
good lord no bro, I wrong as often as right
kiwi cable and eu was sideways yesterday, I feel a@ resistance, today or tomorrow, them may move, big yen data today could kick start

edit kiwi geppy and aussie is making move now bbl
Even the worst trade can close with profit. Just give it time.
  • #694,085
  • Sep 18, 2012 8:54pm Sep 18, 2012 8:54pm
I give you a hint .....................

1. It may go up
2. It may go down
3. It may go up a little and then rapidly go down
4. It may go down a little and then rapidly go up
5. It may shuttle in 10 or 15 pip range whole night
6. It may go far down, bounce a little and then continue
7. It may go far up. bounce a little and then continue
8. It may violently move up and down and then go up
9. It may violently move up and down and then go down
10.It may do anything other than the above
11. It may do non of the above

Trade well
The Thief of Wall Street
  • #694,086
  • Sep 18, 2012 8:56pm Sep 18, 2012 8:56pm
Quoting Chicky
I give you a hint .....................

1. It may go up
2. It may go down
3. It may go up a little and then rapidly go down
4. It may go down a little and then rapidly go up
5. It may shuttle in 10 or 15 pip range whole night
6. It may go far down, bounce a little and then continue
7. It may go far up. bounce a little and then continue
8. It may violently move up and down and then go up
9. It may violently move up and down and then go down
10.It may do anything other than the above
11. It may do non of the above

Trade well
That's the smartest thing I've read on here in a really long time.
Not all sins are created equal
  • #694,087
  • Sep 18, 2012 8:56pm Sep 18, 2012 8:56pm
Quoting Chicky
I give you a hint .....................

1. It may go up
2. It may go down
3. It may go up a little and then rapidly go down
4. It may go down a little and then rapidly go up
5. It may shuttle in 10 or 15 pip range whole night
6. It may go far down, bounce a little and then continue
7. It may go far up. bounce a little and then continue
8. It may violently move up and down and then go up
9. It may violently move up and down and then go down
10.It may do anything other than the above
11. It may do non of the above

Trade well
Even the worst trade can close with profit. Just give it time.
  • #694,088
  • Sep 18, 2012 8:59pm Sep 18, 2012 8:59pm
Eu on Daily.
Kinda interesting. Is it?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture4.PNG Size: 59 KB
There is nothing in the Universe but mathematical points of force.
  • #694,089
  • Sep 18, 2012 9:00pm Sep 18, 2012 9:00pm
here is the culprit for yesterdays chop chop

each bullish divergence was countered by a hidden bearish on the M30
Attached Image (click to enlarge)
Click to Enlarge Name: eu-m30-9-18-2012.jpg Size: 181 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #694,090
  • Sep 18, 2012 9:09pm Sep 18, 2012 9:09pm
Haha this might be a stupid question to ask in light of the earlier post by Chicky, but I'd just like to ask the more experienced ones on this board their opinion of this chart (drawn on daily).

I'm a novice so my questions may be silly.

1) Is my Fibonacci retracement drawn correctly? What I mean is should I start from the candle wick or the candle? This could be a matter of preference but those of more experience may be able to confirm if one method is more accurate than the other.

2) Is it too early to draw Fibonacci retracement? The second daily candle has yet to close, so although it shows a bear candle it may turn into a bull later on in the day. Then again, it has hit a resistance zone.

3) Lastly, this Fibonacci retracement shows potential of a retracement up to 1.274 (61.8%). Am I right to conclude this? I ask because other than possibly having drawn a bad Fibonacci retracement, I probably would have missed out a million other things that other traders can see. So I would love to hear your take on things.

Finally, thanks to any kind soul who replies sincerely.
Attached Image (click to enlarge)
Click to Enlarge Name: Euro_Fibonnacci.png Size: 42 KB
  • #694,091
  • Sep 18, 2012 9:27pm Sep 18, 2012 9:27pm
come get me bears

above 1.3050 its bull again, at least mini one
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu-allTFs-9-18-2012.jpg Size: 132 KB
Click to Enlarge Name: eu-allTFs-9-18-2012-2.jpg Size: 334 KB
Be hopeful in a winning position, and fearful in a losing position.
  • #694,092
  • Sep 18, 2012 9:29pm Sep 18, 2012 9:29pm
Quoting HeavenBlade
Haha this might be a stupid question to ask in light of the earlier post by Chicky, but I'd just like to ask the more experienced ones on this board their opinion of this chart (drawn on daily).

I'm a novice so my questions may be silly.

1) Is my Fibonacci retracement drawn correctly? What I mean is should I start from the candle wick or the candle? This could be a matter of preference but those of more experience may be able to confirm if one method is more accurate than the other.

2) Is it too early to draw Fibonacci retracement? The second...
Hey Bro
firstly each pair react differently to fib, some very respect, other totally disrespect, some respect certain fib more than others etc etc, examlpe cable repsect 50 more than any other pair
secondly, there are strict rules for fib origin point and target pointt, these rules ecompass also targets, extensions etc
personally will learn each pairs characteristics over time

I believe is best to back test your origin and target point placement and note the reaction of the levels, top of wick, candle etc, will help identify and refine placement.

Fib should only be 1 part of puzzle when trying to plan you trade, r/r m/m S&R need put every thing together

Hope this helps

Remember when you have decided where is best placement, pa will screw you
If you are new to Forex? Say Goodbye to your account!!
  • #694,093
  • Sep 18, 2012 9:42pm Sep 18, 2012 9:42pm
Quoting KiwiTrada
Hey Bro
firstly each pair react differently to fib, some very respect, other totally disrespect, some respect certain fib more than others etc etc, examlpe cable repsect 50 more than any other pair
secondly, there are strict rules for fib origin point and target pointt, these rules ecompass also targets, extensions etc
personally will learn each pairs characteristics over time

I believe is best to back test your origin and target point placement and note the reaction of the levels, top of wick, candle etc, will help identify and refine placement....
in regards to fib start with a naked daily chart which ever way you hope for fib to retrace you draw top to bottom or vice versa or what i do is i make 2 charts one from daily high to daily low. if you use indi on chart it skews levels a bit test it put an indi with fibs then make indi bigger and it moves fib levels with it.
A man is what he thinks about all day long. - Ralph Waldo Emerson
  • #694,094
  • Sep 18, 2012 10:11pm Sep 18, 2012 10:11pm
Quoting RWalker
I see the long wicks there going back to Friday on H4 (which I recognize as genuine supply), and I see the support around 3050 which looks like it could give way at any moment. I don't see anything that looks like demand though.

I'm not a candlestick expert, could you explain the demand part?
here is a good thread...

there is also supdem indicator
http://www.forexfactory.com/showthread.php?t=325627

more voodoo for some
I'll pick up the crumbs don't need the whole pie
  • #694,095
  • Sep 18, 2012 10:17pm Sep 18, 2012 10:17pm
Don't expect same affection from me my beloved
You'r still pretty, but ....................

Inserted Video
The Thief of Wall Street
  • #694,096
  • Sep 18, 2012 10:32pm Sep 18, 2012 10:32pm
Quoting Chicky
I give you a hint .....................

1. It may go up
2. It may go down
3. It may go up a little and then rapidly go down
4. It may go down a little and then rapidly go up
5. It may shuttle in 10 or 15 pip range whole night
6. It may go far down, bounce a little and then continue
7. It may go far up. bounce a little and then continue
8. It may violently move up and down and then go up
9. It may violently move up and down and then go down
10.It may do anything other than the above
11. It may do non of the above

Trade well

a best advice for novice trader for not to take forex trading,
  • #694,097
  • Sep 18, 2012 10:41pm Sep 18, 2012 10:41pm
let see reaction near 3060ish...if we get there..
but 50 is the one taking effect...
Patience, Emotion Control and Discipline.
  • #694,098
  • Sep 18, 2012 10:43pm Sep 18, 2012 10:43pm
the way silver is trading is crazy

many bears coming in because its very overbought, and many bulls still coming in because its still very undervalued
Be hopeful in a winning position, and fearful in a losing position.
  • #694,099
  • Sep 18, 2012 10:44pm Sep 18, 2012 10:44pm
yen playing yo oyo

looks they have increced assets purchase

edit : yen flying
Mohan
  • #694,100
  • Sep 18, 2012 10:48pm Sep 18, 2012 10:48pm
Quoting mohan76
yen playing yo oyo

looks they have increced assets purchase
yup...as expected..

BOJ expanded buys of treasury bills by 5 trillion yen.
Patience, Emotion Control and Discipline.
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