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  • #694,681
  • Sep 19, 2012 11:06am Sep 19, 2012 11:06am
Quoting SnaveForex
he is the shit now.....may be another QE4 before elections or right after
No QE4. We are in QE-Infinity right now, so the next will be QE-Infinity Service Pack 1.
Those who say it cannot be done should not interrupt those who are doing it
  • #694,682
  • Sep 19, 2012 11:08am Sep 19, 2012 11:08am
Some hidden bullish divergence on M15 will likely be showing up very soon (its nice im getting the hang of this pretty well, i can predict before it happens)

Already seeing it on the M5
Be hopeful in a winning position, and fearful in a losing position.
  • #694,683
  • Sep 19, 2012 11:09am Sep 19, 2012 11:09am
Quoting Rag2RichesFX
crude gonna hit 92 before bouncing (or maybe 92.50 is it)

max doom must be doing backflips right about now

you look to take profit soon?

indeed it was a great trade closed it out @ 92.60

currently long
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  • #694,684
  • Sep 19, 2012 11:10am Sep 19, 2012 11:10am
Quoting PipTrapper
I don't use fibo extensions.

Here is my fibo study on the weekly chart. As you can see we have a confluence of 3 fibos right now
- Orange Fibo is at 38.2% of 2011 high to 2012 low
- Yellow Fibo is at 50% of October 2011 high to 2012 low.
- Green Fibo is 78.6% of 2012 high to 2012 low
I confirm additional resistance via my MacD showing a bearish hidden divergence and also an overbought RSX index.
Furthermore, I have an old trend line (red-dashed) offering additional resistance.

Note that on a weekly chart, I always use the candle close...

Ok....I can see how your setup would be ideal for trading within a set range - but what do you do once the extremes are breached?
  • #694,685
  • Sep 19, 2012 11:11am Sep 19, 2012 11:11am
Quoting StopGuessing
short eur here.... 1.30 again today....
Hey S.G - can you post your chart? I'd like to see your set up if possible. All this talk of Fibs has me curious about them again
  • #694,686
  • Sep 19, 2012 11:13am Sep 19, 2012 11:13am
I guess we've seen a full reversal. Let's see if we get a good buy setup tonight.
  • #694,687
  • Sep 19, 2012 11:14am Sep 19, 2012 11:14am
Quoting almo
Ok....I can see how your setup would be ideal for trading within a set range - but what do you do once the extremes are breached?
Go the other way?
Of course once an extreme is breached, you wait for a retest of the breach and then provided the resistance turned support (or support turned resistance) holds, you enter going the other way with a stop on the other side of the breach. The idea is to keep your trade setups in a very high RR (50 to 100 pips stop and a 300 to 500 pip target)

This can also apply to smaller time frames. Same concept but less pips.
Those who say it cannot be done should not interrupt those who are doing it
  • #694,688
  • Sep 19, 2012 11:17am Sep 19, 2012 11:17am
Quoting PipTrapper
Go the other way?
Of course once an extreme is breached, you wait for a retest of the breach and then provided the resistance turned support (or support turned resistance) holds, you enter going the other way with a stop on the other side of the breach. The idea is to keep your trade setups in a very high RR (50 to 100 pips stop and a 300 to 500 pip target
LOL


Sorry - I should have been clearer - what do you do for the fibs once the extremes are breached? I assume your moving your 0/100 lines to accommodate the new LL/HH? Or do you keep them there until some time where its proven that there is no return to these lines?
  • #694,689
  • Sep 19, 2012 11:20am Sep 19, 2012 11:20am
Quoting pkimnyc
I guess we've seen a full reversal. Let's see if we get a good buy setup tonight.
It was the H4 bullish divergence There was an H4 bearish right before it which brought us down to 1.30.

They dominate the markets! Especially on larger TFs.

Calling it a day, good luck the rest of the day everyone.
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Be hopeful in a winning position, and fearful in a losing position.
  • #694,690
  • Sep 19, 2012 11:25am Sep 19, 2012 11:25am
Quoting Rag2RichesFX
It was the H4 bullish divergence There was an H4 bearish right before it which brought us down to 1.30.

They dominate the markets! Especially on larger TFs.

Calling it a day, good luck the rest of the day everyone.
Yea. Didn't pay attention to smaller tfs until you called out divergence this morning. Not too late though. Just gotta wait for a little pb.

Nice call earlier.
  • #694,691
  • Sep 19, 2012 11:27am Sep 19, 2012 11:27am
I think slowly will hit 1.308.

Looking at Bollinger bands on different timeframes:
- on H1 is very close to the top (1.308)
- same on 30 min
- on H4 is going from the bottom to middle, middle is again 1.308.
- For 1 min time frame it's still bouncing between 1.3060 - 1.3065
The only exception is on 15 min timeframe where is very, very wide. My trades are for long timeframes.
Speculation converts one man's capital into another man's income
  • #694,692
  • Sep 19, 2012 11:28am Sep 19, 2012 11:28am
My charts has this as a significant point. Assuming it gets hit, we could see a big run up.
  • #694,693
  • Sep 19, 2012 11:32am Sep 19, 2012 11:32am
Quoting almo
My charts has this as a significant point. Assuming it gets hit, we could see a big run up.
I hope you're right and I didn't buy the top there.. lol. Stupid thing might start dropping though.. Anyway, I have enough room to get the heck out if it does..

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  • #694,694
  • Sep 19, 2012 11:33am Sep 19, 2012 11:33am
Quoting SnaveForex
thats a gamble
sold 2/3 audusd +36... y is it a gamble
I'm not a "Businessman" I'm a "Business-man"!! Jay-Z
  • #694,695
  • Sep 19, 2012 11:34am Sep 19, 2012 11:34am
Quoting almo
LOL


Sorry - I should have been clearer - what do you do for the fibs once the extremes are breached? I assume your moving your 0/100 lines to accommodate the new LL/HH? Or do you keep them there until some time where its proven that there is no return to these lines?
Ahh I see. If the 0 or 100 levels are breached you mean? Okay if that is what you mean then the answer is very different.

If the zero line is breached, the fibo is adjusted accordingly.
If the 100 line is breached, I keep counting up levels all the way to the 423.6 extension for as long as it is valid. The levels I use between 100 and 423.6 are 113.0, 123.6, 161.8, 261.8 & 361.8
Those who say it cannot be done should not interrupt those who are doing it
  • #694,696
  • Sep 19, 2012 11:35am Sep 19, 2012 11:35am
Holllyy Yuyahhh jaysus ~ strong pattern for Bulls ~ !

Amen!
If there was easy money lying around,no one would be forcing it into your
  • #694,697
  • Sep 19, 2012 11:41am Sep 19, 2012 11:41am
Quoting attila
I hope you're right and I didn't buy the top there.. lol. Stupid thing might start dropping though.. Anyway, I have enough room to get the heck out if it does..

Attachment
I forgot to post the charts...these are PnF charts....


Edit....what is interesting to note, is that there hasn't been a 10 pip reversal for some time. Suggestive of bull strength.
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  • #694,698
  • Sep 19, 2012 11:44am Sep 19, 2012 11:44am
hooooly jaysus".... strong bear pattern. i see the bearz gaining momentum, yo. bulls are steak soon, yo.
  • #694,699
  • Sep 19, 2012 11:45am Sep 19, 2012 11:45am
Quoting PipTrapper
Ahh I see. If the 0 or 100 levels are breached you mean? Okay if that is what you mean then the answer is very different.

If the zero line is breached, the fibo is adjusted accordingly.
If the 100 line is breached, I keep counting up levels all the way to the 423.6 extension for as long as it is valid. The levels I use between 100 and 423.6 are 113.0, 123.6, 161.8, 261.8 & 361.8
Yes...that is exactly what I meant. Ty for clarifying
  • #694,700
  • Sep 19, 2012 11:48am Sep 19, 2012 11:48am
The longer term bull market still seems to be intact, but the retracement on daily basis may not be over yet. Maybe the 1,30 will be touched again during this week.
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