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  • #20,021
  • May 30, 2013 1:16am May 30, 2013 1:16am
Quoting emmanuel7788
GU UPthrust price bar example {image}
just realized that gu 4htf chart looks very much like a textbook double bottom
Attached Image (click to enlarge)
Click to Enlarge Name: gu4h 29-5-2013.gif Size: 51 KB
Daniel
  • #20,022
  • May 30, 2013 1:17am May 30, 2013 1:17am
Quoting Greenb
{quote} just realized that gu 4htf chart looks very much like a textbook double bottom {image}

yea, a H4 double bottom which create the shadow of this MAY month candle ... can you see that?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,023
  • May 30, 2013 1:19am May 30, 2013 1:19am
Quoting emmanuel7788
{quote} yea, a H4 double bottom which create the shadow of this MAY month candle ... can you see that?
when you say shadow, do you mean that wick on monthly?
Daniel
  • #20,024
  • May 30, 2013 2:11am May 30, 2013 2:11am
Quoting Greenb
{quote} when you say shadow, do you mean that wick on monthly?
yes, wick and shadow same thing...
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,025
  • May 30, 2013 2:15am May 30, 2013 2:15am
Quoting emmanuel7788
{quote} yes, wick and shadow same thing... {image}
Sorry 12 am brain dead here. Like the picture. Be back in 40mins cat nap
Daniel
  • #20,026
  • May 30, 2013 2:19am May 30, 2013 2:19am
Attached Image (click to enlarge)
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  • #20,027
  • May 30, 2013 2:26am May 30, 2013 2:26am
Quoting dunggiggs
{image}

your D chart shows top resistance 1.5165 to overcome before GU can move further up...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,028
  • May 30, 2013 2:31am May 30, 2013 2:31am
Quoting emmanuel7788
{quote} your D chart shows top resistance 1.5165 to overcome before GU can move further up...
Thank emamanuel!
May be..?
Attached Image (click to enlarge)
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  • #20,029
  • May 30, 2013 2:33am May 30, 2013 2:33am
any advice appreciated

double top formed may 28 and today
Two pullback candles
tdi at 68 crossing over



this is the aud.usd
Attached Image (click to enlarge)
Click to Enlarge Name: may 30 eur.jpy.h1.png Size: 57 KB
  • #20,030
  • May 30, 2013 2:40am May 30, 2013 2:40am
Quoting tenmilewalk
any advice appreciated double top formed may 28 and todayTwo pullback candlestdi at 68 crossing over this is the aud.usd {image}


this is the 2nd test of 0.9860 like what happened on 28 May.... so I am suspicious it may break upwards ...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,031
  • May 30, 2013 2:42am May 30, 2013 2:42am
Quoting tenmilewalk
any advice appreciated double top formed may 28 and todayTwo pullback candlestdi at 68 crossing over this is the aud.usd {image}
they say picture worth a thousand words
http://www.aboutcurrency.com/images/...al_pattern.gif
Daniel
  • #20,032
  • May 30, 2013 2:48am May 30, 2013 2:48am
AU 30 May LO

here is what I see on H4
Attached Image (click to enlarge)
Click to Enlarge Name: AU week 22 30 May H4 push up 30-5-2013 3-44-34 PM.png Size: 67 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,033
  • May 30, 2013 2:51am May 30, 2013 2:51am
Quoting emmanuel7788
{quote} this is the 2nd test of 0.9860 like what happened on 28 May.... so I am suspicious it may break upwards ...
hello emmanuel. If i were to enter a trade, should I set the SL at the top of the pullback? Or should I just not enter tonight?
  • #20,034
  • May 30, 2013 2:51am May 30, 2013 2:51am
Quoting Greenb
{quote} they say picture worth a thousand words{image}
I hope that comes into fruition
  • #20,035
  • May 30, 2013 2:52am May 30, 2013 2:52am
Quoting Greenb
{quote} they say picture worth a thousand words{image}



double top at the top of a bullish trend.

double bottom at the bottom of a bearish trend ..

AU ... downtrend so double top now don't make sense
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,036
  • May 30, 2013 2:54am May 30, 2013 2:54am
Quoting Greenb
{quote} they say picture worth a thousand words{image}
Well it is not so obviouse, see D1 pin bar , and from sometime AU wants revers.... US news keep AU down, AU is very low, tested MN support already, support which holds since Nov 2011, maybe todays news hellp you I am staing away...

Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 31 KB
JacekPreserve Precious Capital
  • #20,037
  • May 30, 2013 2:54am May 30, 2013 2:54am
Quoting emmanuel7788
AU 30 May LO here is what I see on H4 {image}
to go for a breakout, price needs to clear 0.97?
Daniel
  • #20,038
  • May 30, 2013 2:58am May 30, 2013 2:58am
Quoting tenmilewalk
{quote} hello emmanuel. If i were to enter a trade, should I set the SL at the top of the pullback? Or should I just not enter tonight?

do you mean you want to sell AU today during London session?

anyway, the logical placement of SL is always the recent swing high or low, and compare that with ATR of the TF you trade.
when I trade H4, I use the ATR(10) on H4 and minimum 1.5 times that.

the initial Sl in pips will be used calculate your trade position size.

If I risk 2% per trade, whether my initialSL is 50 pips or 100pips, my risk remains the same when I use position sizing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #20,039
  • May 30, 2013 3:00am May 30, 2013 3:00am
GJ EJ 1H TF possible setup for long
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gj 1h 30-5-2013.gif Size: 23 KB
Daniel
  • #20,040
  • May 30, 2013 3:00am May 30, 2013 3:00am
Quoting tenmilewalk
any advice appreciated double top formed may 28 and todayTwo pullback candlestdi at 68 crossing over this is the aud.usd {image}
Hi tenmilewalk,

I'm watching as well this pair. IMO could be a good Short setup if this hour candle (which will close in about 1 min) closes below the previous one. I can see a nice 200 MA rejection, TDI cross, stoch in agreement in oversold area, main daily trend bearish. Let's wait and see

UPDATE: I can see that 1h closed around the same price as the previous candle. The 2 previous candles are not so convincing(lots of wicks). I'm staying out for the moment
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 91 KB
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