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Trading EURUSD only

  • #1,241
  • Edited 3:49pm Oct 14, 2012 1:03pm | Edited 3:49pm
Some considerations.....
- W1 hasnt found a meaningful bottom yet? (no reversal candle, last week was a hammer, but not on a level!)
- D1 hasnt found a top? (no reversal candle)

If these are correct, then D1 has to go up and then down in order for W1 to make a bottom. And it has to go below that D1 bullflag bottom trendline in order to make a bottom on W1.

The uptrend retracement is not over yet?

What do you guys think?
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  • #1,242
  • Oct 14, 2012 1:16pm Oct 14, 2012 1:16pm
I don't know why most of you draw lines from high to high and from low to low, in my opinion it's not correct. So my view is on the bears side.

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  • #1,243
  • Oct 14, 2012 1:17pm Oct 14, 2012 1:17pm
both are correct

low to farest Low
or
low to nearset Low

you are using second option

Quoting fraktalas
I don't know why most of you draw lines from high to high and from low to low, in my opinion it's not correct. So my view is on the bears side.

Attachment
  • #1,244
  • Oct 14, 2012 1:22pm Oct 14, 2012 1:22pm
Quoting fraktalas
I don't know why most of you draw lines from high to high and from low to low, in my opinion it's not correct. So my view is on the bears side.
Ic The last daily candle top can be seen as a test of a D1 bullflag upper trendline drawn from D1 closes.....
  • #1,245
  • Oct 14, 2012 1:50pm Oct 14, 2012 1:50pm
Trend has changed and the bull's flag was closed and on friday trend was confirmed so next week will be red of bulls blood . I hope so...

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  • #1,246
  • Oct 14, 2012 3:56pm Oct 14, 2012 3:56pm
good week all

walker.
  • #1,247
  • Oct 14, 2012 4:02pm Oct 14, 2012 4:02pm
no gap
  • #1,248
  • Oct 14, 2012 4:02pm Oct 14, 2012 4:02pm
.
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  • #1,249
  • Oct 14, 2012 4:04pm Oct 14, 2012 4:04pm
.
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  • #1,250
  • Oct 14, 2012 4:05pm Oct 14, 2012 4:05pm
I am looking bounce over below 2907/37 4 H & D1 chart to break Narrowing zone Up/Down

Basicly my bias is 2907/37
  • #1,251
  • Oct 14, 2012 4:06pm Oct 14, 2012 4:06pm
Quoting stevewalker
no gap
Steve, why gap? E/U daily close was pretty weak with a wick. could not even close above from Thursday high on Oanda chart.
  • #1,252
  • Oct 14, 2012 4:07pm Oct 14, 2012 4:07pm
D1 channels

up 3028
down 2853
  • #1,253
  • Oct 14, 2012 4:08pm Oct 14, 2012 4:08pm
no gap.

IMF Japan meetings could cause gap.


Quoting shiko
Steve, why gap? E/U daily close was pretty weak with a wick. could not even close above from Thursday high on Oanda chart.
  • #1,254
  • Oct 14, 2012 4:11pm Oct 14, 2012 4:11pm
.
Quoting stevewalker
http://search1.bloomberg.com/search/...l&page=1&q=imf
  • #1,255
  • Oct 14, 2012 4:12pm Oct 14, 2012 4:12pm
.
Quoting stevewalker
this is important

IMO also if Greece will leave EURO this will give more strenght to EURO

http://www.bloomberg.com/news/2012-1...imf-meets.html
  • #1,256
  • Oct 14, 2012 4:13pm Oct 14, 2012 4:13pm
I can see the next move for EU
look at this...
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  • #1,257
  • Oct 14, 2012 4:15pm Oct 14, 2012 4:15pm
5 M in expanding zone & bouced down from %50 level. means short

I am not planing to trade that ATM.
  • #1,258
  • Oct 14, 2012 4:18pm Oct 14, 2012 4:18pm
Quoting shiko
Steve, why gap? E/U daily close was pretty weak with a wick. could not even close above from Thursday high on Oanda chart.
news.....could create gaps....
  • #1,259
  • Oct 14, 2012 4:19pm Oct 14, 2012 4:19pm
weekend I have added waves to EA with max %68 pullback.

actually there is only 5 M chart is counting #1 down
  • #1,260
  • Oct 14, 2012 4:23pm Oct 14, 2012 4:23pm
this narrowing zone was ideal for Grid.

but too late.
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