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  • #1,381
  • Jul 28, 2013 10:02am Jul 28, 2013 10:02am
USDJPY, opportunity to short ? Or wait for W to close below middle of RM to confirm ?
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  • #1,382
  • Jul 28, 2013 2:36pm Jul 28, 2013 2:36pm
Quoting sodiska
USDJPY, opportunity to short ? Or wait for W to close below middle of RM to confirm ? {image}
Look at the monthly chart. What do you see? Opposing price action = risk.
What trend do you see? Bullish till before the RM.
Is an inversion pattern confirmed, like say a confirmed double top? No.
There are 300 pips to go before landing on a M level that right 1 W swing before caused that massive 2W PB.

What are your conclusions?
  • #1,383
  • Jul 29, 2013 1:35am Jul 29, 2013 1:35am
Quoting dfumagalli
{quote} Look at the monthly chart. What do you see? Opposing price action = risk. What trend do you see? Bullish till before the RM. Is an inversion pattern confirmed, like say a confirmed double top? No. There are 300 pips to go before landing on a M level that right 1 W swing before caused that massive 2W PB. What are your conclusions?

Hi, M is a PB with long tail in a bullish trend, means there are sellers. Am I correct ?
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  • #1,384
  • Edited 11:15am Jul 29, 2013 10:43am | Edited 11:15am
Hello everyone, I'm a student of price action
I want to excuse my language but I hope to be clear.

For sodiska:
Usd / jpy is located in a zone of resistance highlighted with the presence of both buyers that sellers.
PB bearish+ PB bullish.
Ii max and min of the candles PA will form a RM with median level that marked the resistance for convenience 'could be the BRN 100.00
Is only hypothesis
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  • #1,385
  • Jul 29, 2013 1:06pm Jul 29, 2013 1:06pm
this happens because of the presence of many levels= traffic
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  • #1,386
  • Jul 30, 2013 3:01pm Jul 30, 2013 3:01pm
Quoting sodiska
{quote} Hi, M is a PB with long tail in a bullish trend, means there are sellers. Am I correct ? {image}
There are both buyers and sellers and that hurts retail traders. Plus the room to trade is small.
  • #1,387
  • Aug 1, 2013 1:34am Aug 1, 2013 1:34am
EURUSD
The P reached our TG...the triangle's R and we are to an important dynamic R level...all we have to do is waiting for higher TF information !
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Nothing personal,just business
  • #1,388
  • Aug 1, 2013 2:37am Aug 1, 2013 2:37am
EURGBP update:
Similar to EU P has breached the dynamic R on W chart. Will it close above?
If it does, then what? Trend is still down, overall. Maybe we need more information
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  • #1,389
  • Aug 1, 2013 2:53am Aug 1, 2013 2:53am
AUDJPY

Dynamic and horizontal S breached on W (so far)
Waiting to see how the week closes. If P on W close below S, does that = confirmation?
or do we look for confirmation on the D?
confused with the information/confirmation regarding the W and entry on D

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  • #1,390
  • Edited 10:27am Aug 1, 2013 3:18am | Edited 10:27am
Hello!
for Livindaylite

EUR GBP : W in RM ,I would expect a closure W to evaluate a exhaustion buyers to have confirmations on D!
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  • #1,391
  • Aug 1, 2013 3:31am Aug 1, 2013 3:31am
Quoting fxgroup
EURUSD The P reached our TG...the triangle's R and we are to an important dynamic R level...all we have to do is waiting for higher TF information ! {image}

Hi, based on your chart, there is a BUOB which signals long, but there is a R nearby (the blue line). Do we wait for it to close above the R or ?
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  • #1,392
  • Aug 1, 2013 2:55pm Aug 1, 2013 2:55pm
Quoting sodiska
{quote} Hi, based on your chart, there is a BUOB which signals long, but there is a R nearby (the blue line). Do we wait for it to close above the R or ? {image}
Hi, every RM static/ dynamic has few important levels within it ...in this RM one of these levels was 1.30 BRN ( look on my chart and you will see why ) , after the P close above it it made the RET and gave us the buyers confirmation with the PB/ IB....beeing an IB too, the high of the CB ( controlling bar ) becomes the very first MM level / TG !
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Nothing personal,just business
  • #1,393
  • Aug 5, 2013 5:54am Aug 5, 2013 5:54am
EURSGD

The P reached an important level and the M PB is still valid...the problem now is the M candle that closed above the 1.68...we have to wait for the P to close below the 1.68 then its confirmation as R level !
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Nothing personal,just business
  • #1,394
  • Aug 6, 2013 6:18am Aug 6, 2013 6:18am
CAC 40

Remember ...the easiest way to identify the RMs are 2SW at the S+SW at the R or vice versa !
The P reached an important level and we have to wait for further informations....but all started with a nice and simple RM's recognition !
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Nothing personal,just business
  • #1,395
  • Aug 7, 2013 12:46pm Aug 7, 2013 12:46pm
Quoting sodiska
USDJPY, opportunity to short ? Or wait for W to close below middle of RM to confirm ? {image}
Hello Sodiska, I saw this pattern and opportunity...
M
http://imageshack.us/a/img845/825/3kzx.jpg


W
http://imageshack.us/a/img542/2350/9ulp.jpg


D
http://imageshack.us/a/img707/4941/4c51.jpg
  • #1,396
  • Aug 7, 2013 3:07pm Aug 7, 2013 3:07pm
CHFJPY WEEKLY

Sometimes I go back to charts that fxgroup posted and we can see how the RM target has been reached....the interesting question is then WHAT happens after that. A good example is CHFJPY, where fxgroup pointed out to the 2W PB, and then the D PB at Support, where the target at the top of the RM was 107.00.

This was reached, and we now see a move slightly back down. So we can keep the RM box we had before on our chart and still use it. :-)

I am now watching what happens at 104.00 and at S of the bigger weekly RM.

Only the best to you all.

Mike

Attached Image (click to enlarge)
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Be like water.
  • #1,397
  • Aug 8, 2013 9:32am Aug 8, 2013 9:32am
Quoting mitomane86
{quote} Hello Sodiska, I saw this pattern and opportunity... M {image} W {image} D {image}
Very nice indeed....you read it better than me...!!!....the M IPB tells you where the 1° important Tg is !....your partecipation is appreciated !
Nothing personal,just business
  • #1,398
  • Aug 8, 2013 11:54am Aug 8, 2013 11:54am
Quoting fxgroup
{quote} Very nice indeed....you read it better than me...!!!....the M IPB tells you where the 1° important Tg is !....your partecipation is appreciated !


Thanks all for the insightful guidance.
  • #1,399
  • Aug 8, 2013 1:15pm Aug 8, 2013 1:15pm
Quoting fxgroup
{quote} Very nice indeed....you read it better than me...!!!....the M IPB tells you where the 1° important Tg is !....your partecipation is appreciated !
I don't know what is the english equivalent for "ho un buon maestro!"...but I think that I can say "I have a good teacher!"
  • #1,400
  • Aug 8, 2013 8:38pm Aug 8, 2013 8:38pm
USDCHF, W close below M support at 0.913. 2D PB and a RET, short opportunity?
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