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  • #11,141
  • Nov 8, 2012 11:35pm Nov 8, 2012 11:35pm
Now with the good chinese news are we going to see this come crashing back down?
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  • #11,142
  • Nov 8, 2012 11:43pm Nov 8, 2012 11:43pm
Quoting shellsnail
Now with the good chinese news are we going to see this come crashing back down?
Indeed price action shows no buying power at all, tiny /no upper wicks.
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  • #11,143
  • Nov 9, 2012 12:11am Nov 9, 2012 12:11am
Quoting shellsnail
Indeed price action shows no buying power at all, tiny /no upper wicks.
Last chance for longs to get out I think..

'breakout' traders are buying the pullback.
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  • #11,144
  • Nov 9, 2012 12:15am Nov 9, 2012 12:15am
Quoting shellsnail
Last chance for longs to get out I think..

'breakout' traders are buying the pullback.
Price just got to the other side of the uptrend line, let's see what happen here, last chance for bulls.
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  • #11,145
  • Nov 9, 2012 12:25am Nov 9, 2012 12:25am
Quoting shellsnail
Price just got to the other side of the uptrend line, let's see what happen here, last chance for bulls.
Whats your uptrend line Based off?
"My 2 cents"
  • #11,146
  • Nov 9, 2012 12:28am Nov 9, 2012 12:28am
seeing trend channel at 4Hr chart I am expecting price atleast to push higher up to 1.27995
  • #11,147
  • Nov 9, 2012 12:30am Nov 9, 2012 12:30am
Attached Image (click to enlarge)
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yesterday was a choppy day(i ended it with negative pip and positive profit, i hate such days and i mentioned it the day before that we could have hard trading day ), now output is bullish, according to D1 still there is no sign of bullish momentum(my momentum indicator is showing bullish day) and i am going to enter short term trend following trades with personally a bullish sentiment.
now price is higher than KOMO in M30 and has touched KOMO on H1. i use Ichimoko and i know signals are kind of lagging but in choppy days they help much
current SDP is 1.2741 ideally i will enter long here with small stop and big size and with smaller size at Kijunsen=1.27601.
targets are
1.2822: D1 200 ma
1.2827
1.2870
  • #11,148
  • Nov 9, 2012 12:35am Nov 9, 2012 12:35am
Quoting shellsnail
Price just got to the other side of the uptrend line, let's see what happen here, last chance for bulls.
1.2746 is 61.8 fibo retracement from between 7/25 and 9/14. Unless I see solid breakout I think we could smell burned bears.
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  • #11,149
  • Nov 9, 2012 12:38am Nov 9, 2012 12:38am
Quoting tghfbt8
1.2746 is 61.8 fibo retracement from between 7/25 and 9/14. Unless I see solid breakout I think we could smell burned bears.
Fib levels fail all the time. Besides this one has been consolidating for ages, normally we will see a clean bounce off a level, not this.

Anyway, information overload, I am looking at 3 minute charts and 4HR charts for trades so right now it seems prices want to head lower.
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  • #11,150
  • Nov 9, 2012 12:41am Nov 9, 2012 12:41am
Quoting shellsnail
Fib levels fail all the time. Besides this one has been consolidating for ages, normally we will see a clean bounce off a level, not this.

Anyway, information overload, I am looking at 3 minute charts and 4HR charts for trades so right now it seems prices want to head lower.
But I guess we all have different views and that's why we have a market.
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  • #11,151
  • Nov 9, 2012 12:57am Nov 9, 2012 12:57am
Quoting shellsnail
But I guess we all have different views and that's why we have a market.
market topping in shorter time frames, in 1HR you see pinbar too.
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  • #11,152
  • Nov 9, 2012 1:03am Nov 9, 2012 1:03am
Quoting shellsnail
market topping in shorter time frames, in 1HR you see pinbar too.
This might be a 100 pip move that last till noon... watch out.
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  • #11,153
  • Nov 9, 2012 1:05am Nov 9, 2012 1:05am
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it seems that oscillators are suggesting a bullish bias after reacting to TLs. after yesterday's lower volume we can now detect a new high in volume and consider that as a reversal(this was mentioned before in this thread but i checked the volume with ninja trader and now i think the correct high is determined)
  • #11,154
  • Nov 9, 2012 1:07am Nov 9, 2012 1:07am
Quoting smart pivots
Attachment

it seems that oscillators are suggesting a bullish bias after reacting to TLs. after yesterday's lower volume we can now detect a new high in volume and consider that as a reversal(this was mentioned before in this thread but i checked the volume with ninja trader and now i think the correct high is determined)
Price is telling me to be stay short for now though...
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  • #11,155
  • Nov 9, 2012 1:08am Nov 9, 2012 1:08am
Breaking of H & S formation grants me +7 pips, $160+ USD. Simply loves formation trading, free pips.
  • #11,156
  • Nov 9, 2012 1:10am Nov 9, 2012 1:10am
Quoting huatjin
Breaking of H & S formation grants me +7 pips, $160+ USD. Simply loves formation trading, free pips.
yup. you call it H&S, I call it intermediate top.

and guess what this drop completes? It makes the previous triangle formation that price broke out upwards become a false breakout, so now we should see a true breakdown of prices soon...

so we have ourselves a long term top (maybe)
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  • #11,157
  • Edited 1:27am Nov 9, 2012 1:14am | Edited 1:27am
Quoting shellsnail
yup. you call it H&S, I call it intermediate top.

and guess what this drop completes? It makes the previous triangle formation that price broke out upwards become a false breakout, so now we should see a true breakdown of prices soon...

so we have ourselves a long term top (maybe)
but the market is always right, so if we see prices changing momentum then we want to get long. sellers seem to be letting go some pressure here, might have a reversal coming.

bulls lost their chance... losing ground fast. watch for continuation soon.
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  • #11,158
  • Nov 9, 2012 1:27am Nov 9, 2012 1:27am
I am short again. from 1.2770 with 100 pips stop. should not have closed my shorts me think now.
reopened few more trades and a couple new ones. Price was rejected from R1. Yesterday price was unable to break 1.2720 level, hence i sense it was driven higher to pick more short orders before reattempting to break support at 1.2720. However has not been able to reach 1.2800. so let's see.
closed platform and will check how things are going after MKT close.
  • #11,159
  • Nov 9, 2012 1:30am Nov 9, 2012 1:30am
Oanda chart candles look differently and it looks like bad for bulls now. Different open and close times and I think better than MT4s.

Quoting tghfbt8
1.2746 is 61.8 fibo retracement from between 7/25 and 9/14. Unless I see solid breakout I think we could smell burned bears.
  • #11,160
  • Nov 9, 2012 1:31am Nov 9, 2012 1:31am
Quoting shiko
Oanda chart candles look differently and it looks like bad for bulls now. Different open and close times and I think better than MT4s.
I think just watch 3min chart you can tell it's bad for bulls since yesterday morning.

the best chance for reversal was during the interest rate meeting, because charts had a triangle formation and a falsebreak out to the downside, which went with an upside follow through EVENTUALLY today, but not before forming another pattern... so now we are seeing the false breakout to the upside of this pattern coming back down.

now market being indecisive. wait for news.
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