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  • #790,441
  • Apr 22, 2013 8:49am Apr 22, 2013 8:49am
Fack Ya! pattern on H1. Also can be called Head and Shoulders, but thats a shampoo. Besides, as you know, HaS pattern has to come after uptrend, so this is clear Fack Ya! pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: h1.gif Size: 20 KB
"I know one thing, that I know nothing." Sokrates
  • #790,442
  • Apr 22, 2013 8:50am Apr 22, 2013 8:50am
Quoting grand_dra9on
If I'm reading my chart right, EU might go to 1.29xx area today... don't know whether it will bounce up from there or keep going down though... NB: I haven't put any order yet too risky for my taste...
Brother there is wisdom in Standing Down. I do it all the time.
Trade smaller than rational because the market is irrational...
  • #790,443
  • Apr 22, 2013 8:51am Apr 22, 2013 8:51am
EUR provide alternative strategies – UBS

UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.

In particular, the EUR/USD maintains a neutral outlook, as there is a support at 1.2974, ahead of 1.2920, meanwhile resistance lies at 1.3228. In terms of the EUR/CHF, resistance is at 1.2213, onto 1.2230 – there is a significant support at 1.2151 as only a break below this would be a major bearish development, suggesting a neutral intraday view.

Moving to the EUR/GBP, there is a bullish bias, as the cross came under pressure from resistance at 0.8648. A closing break above would open 0.8747, while downside should be limited and support is at 0.8497. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 132.05, though a break above this would expose 134.38. Conversely, support is at 128.06, ahead of 126.04.
Trade smaller than rational because the market is irrational...
  • #790,444
  • Apr 22, 2013 8:52am Apr 22, 2013 8:52am
added 303 - longs
----- Dragonfly out in the sun you know what I mean, don't you know
  • #790,445
  • Apr 22, 2013 8:54am Apr 22, 2013 8:54am
EUR/USD pressured ahead of EMU and US data

The EUR/USD is pressuring the downside as the EMU consumer confidence is due and the US National Association of Realtors gets ready to publish March existing home sales at 14:00 GMT. The pair is already down to 1.3021 low, -0.21% on the day.

US Chicago Fed National Activity Index fell from 0.76 to -0.23 in March. The February figure was revised higher from 0.44. Consumer confidence in the EMU is expected to drop from -23.50 to -23.85 in April.

“The EUR/USD currency pair is trying to form an ascending structure to continue its correctional movement”, wrote Roboforex.com analyst Igor Sayadov. “We think, today the price may form another descending structure to reach the level of 1.2940. This structure will help us to define future scenario”, he added, expecting a fifth descending wave with the target at 1.2700.
Trade smaller than rational because the market is irrational...
  • #790,446
  • Apr 22, 2013 8:55am Apr 22, 2013 8:55am
Quoting Tom_D_Trader
Fack Ya! pattern on H1. Also can be called Head and Shoulders, but thats a shampoo. Besides, as you know, HaS pattern has to come after uptrend, so this is clear Fack Ya! pattern. {image}
H&S ?

Never traded that shit
COT: The precious data ignored
  • #790,447
  • Apr 22, 2013 8:56am Apr 22, 2013 8:56am
Quoting kuroro001
{quote} Maybe But i'll still try some longs though. Don't like the idea of shorting. Ultimate Target 1,3154
exactly
  • #790,448
  • Apr 22, 2013 8:58am Apr 22, 2013 8:58am
Quoting kuroro001
{quote} H&S ? Never traded that shit
According to NY FED, H&S traders are considered "noise traders", as the pattern doesnt work. But trust FED.

http://www.newyorkfed.org/research/s...ports/sr42.pdf

T
"I know one thing, that I know nothing." Sokrates
  • #790,449
  • Apr 22, 2013 9:01am Apr 22, 2013 9:01am
Home sales 4.92 M expected 5.01M
Trade smaller than rational because the market is irrational...
  • #790,450
  • Apr 22, 2013 9:01am Apr 22, 2013 9:01am
Central Banks are watching Head and Shoulders and ichomuko clouds to decide on their policies.
"You're solid gold, see you in hell"
  • #790,451
  • Apr 22, 2013 9:02am Apr 22, 2013 9:02am
EU Consumer Confidence improves to -22.3 in Apr from -23.5 in Mar
Trade smaller than rational because the market is irrational...
  • #790,452
  • Apr 22, 2013 9:02am Apr 22, 2013 9:02am
Quoting Tom_D_Trader
Fack Ya! pattern on H1. Also can be called Head and Shoulders, but thats a shampoo. Besides, as you know, HaS pattern has to come after uptrend, so this is clear Fack Ya! pattern. {image}

this is same chart 1hr but zoomed out and actually could be a H&S after bull run, normal H&S trade is breach of neckline

excuse art is crap
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1hr zoomed out 23 4 2013.png Size: 108 KB
If you are new to Forex? Say Goodbye to your account!!
  • #790,453
  • Apr 22, 2013 9:03am Apr 22, 2013 9:03am
Y Sugar, they also watch Pluto .
"I know one thing, that I know nothing." Sokrates
  • #790,454
  • Apr 22, 2013 9:03am Apr 22, 2013 9:03am
Quoting hadox
{quote} short 1.523x stop 1.525x, will give it a try again..
out at 47 -10, my trading window is closed..

gl trading rest of the day
Patience is a virtue...
  • #790,455
  • Apr 22, 2013 9:03am Apr 22, 2013 9:03am
Us existing home sales mom (mar) fell 0.6% vs 0.4% expected and revised to 0.2% from 0.8%.
Trade smaller than rational because the market is irrational...
  • #790,456
  • Apr 22, 2013 9:04am Apr 22, 2013 9:04am
Quoting EuroTraderJD
EU Consumer Confidence improves to -22.3 in Apr from -23.5 in Mar
This nice data and bad US news, maybe can help the bull save EU from dropping below 1.30xx
  • #790,457
  • Apr 22, 2013 9:05am Apr 22, 2013 9:05am
Quoting KiwiTrada
excuse art is crap {image}
Love the art. . Yep, its there. Head and Shoulders everywhere. I aint trading it, waiting for that bullish flag to develop, or trianguloid. I dont trust Fed, but imo this is not good place for H&S, as this is no top of uptrend.
"I know one thing, that I know nothing." Sokrates
  • #790,458
  • Apr 22, 2013 9:06am Apr 22, 2013 9:06am
Quoting Tom_D_Trader
Y Sugar, they also watch Pluto .
And the weather from time to time.
COT: The precious data ignored
  • #790,459
  • Apr 22, 2013 9:07am Apr 22, 2013 9:07am
Quoting Tom_D_Trader
{quote} According to NY FED, H&S traders are considered "noise traders", as the pattern doesnt work. But trust FED. http://www.newyorkfed.org/research/s...ports/sr42.pdf T
I've read another article once, saying pattern were not really profitable on the long term.
H&S was the most profitable but overall trading pattern was not a brillant idea.

Who knows!
COT: The precious data ignored
  • #790,460
  • Apr 22, 2013 9:07am Apr 22, 2013 9:07am
Quoting kuroro001
{quote} And the weather from time to time.
haha I've seen them blaming weather for the bad economy. True!
"You're solid gold, see you in hell"
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