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  • #16,581
  • Nov 28, 2012 8:19am Nov 28, 2012 8:19am
Quoting DaddyBear
While you saw a H/S, I see a triple bottom.
I don't see alien's "H/S" will follow through. Simply because the neckline is tilted toward the downside.
daddybearforex. com
  • #16,582
  • Nov 28, 2012 8:20am Nov 28, 2012 8:20am
Quoting DaddyBear
It's you call and your trade, I wouldn't argue with you about your understanding of EWP. One important fact of corrective patterns is there are two types. One is 5-3-5 and the other one is 3-3-5. FYI
What you see, might not be......
The More You Learn, The More You Earn.....
  • #16,583
  • Nov 28, 2012 8:22am Nov 28, 2012 8:22am
Quoting forexalien
Trade what you see...not what might be.....
I see what you see. Do you see what I see?
daddybearforex. com
  • #16,584
  • Nov 28, 2012 8:24am Nov 28, 2012 8:24am
Quoting alam88009
I have an antenna in here .
Please don't mock our probes.....
Attached Image
The More You Learn, The More You Earn.....
  • #16,585
  • Nov 28, 2012 8:27am Nov 28, 2012 8:27am
Quoting Tim_isoara
Alien What see now on charts?
pull back on the 15m, 1h short, 4h short....
The More You Learn, The More You Earn.....
  • #16,586
  • Nov 28, 2012 8:29am Nov 28, 2012 8:29am
Quoting DaddyBear
This is not the way you projected.

http://www.forexfactory.com/attachme...1&d=1354073676
close enough for dancing , horseshoes and hand grenades.....
The More You Learn, The More You Earn.....
  • #16,587
  • Nov 28, 2012 8:32am Nov 28, 2012 8:32am
Quoting DaddyBear
I don't see alien's "H/S" will follow through. Simply because the neckline is tilted toward the downside.
humans get into trades too soon, and they get out of them too soon, and they hold a bad trade forever.........
The More You Learn, The More You Earn.....
  • #16,588
  • Nov 28, 2012 8:34am Nov 28, 2012 8:34am
Quoting forexalien
humans get into trades too soon, and they get out of them too soon, and they hold a bad trade forever.........
Agree
  • #16,589
  • Nov 28, 2012 9:00am Nov 28, 2012 9:00am
Quoting DaddyBear
While you saw a H/S, I see a triple bottom.
I saw the HS last night, You see the triple bottom this morning......is that fair?
The More You Learn, The More You Earn.....
  • #16,590
  • Nov 28, 2012 9:08am Nov 28, 2012 9:08am
Quoting forexalien
I saw the HS last night, You see the triple bottom this morning......is that fair?
One of the main issues with this h/s pattern is that... it's just slightly above major support - one that was broken to the upside a while ago and it was a daily chart support, not a 4 hour chart one. That is what causes this 4 hour chart h/s pattern to be somewhat odd - the placement is wrong.

Under ideal circumstances, this h/s pattern would target below 1.04, but given the daily chart support, the target should actually be at 1.0420 - which is not a correct target for this type of h/s pattern - thus invalidating it as a legit h/s pattern.

I'll admit though - it does look nice on the 4 hour chart. If only the daily chart support was not there..
  • #16,591
  • Nov 28, 2012 9:45am Nov 28, 2012 9:45am
Quoting forexalien
I saw the HS last night, You see the triple bottom this morning......is that fair?
May be not fair. But, I see this "triple bottom" last nigh.

Quoting DaddyBear
My short term projection is below. A "N" pattern is likely too form in these two days before heading north. I wouldn't consider this is a H/S pattern IMO.
http://www.forexfactory.com/attachme...1&d=1354077633
daddybearforex. com
  • #16,592
  • Nov 28, 2012 9:52am Nov 28, 2012 9:52am
Quoting DaddyBear
May be not fair. But, I see this "triple bottom" last nigh.
One more leg down is possible.
daddybearforex. com
  • #16,593
  • Nov 28, 2012 9:55am Nov 28, 2012 9:55am
You'd think fiscal cliff has been resolved^^
  • #16,594
  • Nov 28, 2012 10:38am Nov 28, 2012 10:38am
Quoting DaddyBear
One more leg down is possible.
1.0475 good for short
  • #16,595
  • Nov 28, 2012 10:45am Nov 28, 2012 10:45am
Quoting Tim_isoara
1.0475 good for short
I second that. Tp at 1.0450. When do you think that will happen? 4-5 hours?
  • #16,596
  • Nov 28, 2012 10:54am Nov 28, 2012 10:54am
Quoting m1dnightshad
I second that. Tp at 1.0450. When do you think that will happen? 4-5 hours?
Why is TP at 1.0450?
daddybearforex. com
  • #16,597
  • Nov 28, 2012 10:58am Nov 28, 2012 10:58am
Quoting DaddyBear
Why is TP at 1.0450?
Something in the "safe-zone" before the possibility of hitting the triple bottom (your chart above).
  • #16,598
  • Nov 28, 2012 11:01am Nov 28, 2012 11:01am
Quoting m1dnightshad
Something in the "safe-zone" before the possibility of hitting the triple bottom (your chart above).
My projection lines are not to the scale.
daddybearforex. com
  • #16,599
  • Nov 28, 2012 11:02am Nov 28, 2012 11:02am
I think 1.05 or 1.0490 is a good sell - not sure about lower than that. BTW, ignore the h/s formation -
  • #16,600
  • Nov 28, 2012 11:04am Nov 28, 2012 11:04am
R1 was tested and failed. Now it comes to the next episode......

http://www.forexfactory.com/attachme...1&d=1354077633
daddybearforex. com
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