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EURUSD

  • #824,281
  • Aug 12, 2013 5:38am Aug 12, 2013 5:38am
DX H4

HEADLINE

dollar bounces off July swing low!
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  • #824,282
  • Aug 12, 2013 5:39am Aug 12, 2013 5:39am
Quoting KiwiTrada
{quote} bit odd anyone suggesting to long into resist, check previous daily resistance, rising tl, throw in pysc 3400, then look closely at Fridays candle and todays in progress, and try to validate buying into 3400, Thursday and Friday has printed a pretty good double top @ resistance, trying to buy into is very risky, not say it cant retest3400 , just its very risky, rr is short, buyers should be sitting on hands until pa supports even looking for a trade imho {image}
pair of the day is GB/AUD it moved 50 pip up -> 110 down -> 13x up -> .... should pay attention to this pair , having trouble figuring s/l
Mohan
  • #824,283
  • Aug 12, 2013 5:42am Aug 12, 2013 5:42am
Quoting ffleo
weird cable does not drop that much in london session
GU H4

crazy isn't it?
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  • #824,284
  • Aug 12, 2013 5:49am Aug 12, 2013 5:49am
Quoting chazzle
{quote} GU H4 crazy isn't it? {image}
brits do not drop cable, something should take notice.

euro charts,
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #824,285
  • Aug 12, 2013 5:51am Aug 12, 2013 5:51am
Quoting barrett
Kiwi: On the other hand we've seen a reasonable retracement from the resistance, and just ran into support on H4. I went long on support. Hoping for 15 pips up.
could be, like I said there is potential for a retest even break of 3400

Its all about odds or risk tolerance, rr is short using the pa in front of eyes, this will change with pa above 3400 especially with a decent retest

but 120pip pull back" from a 650pip rally (range) is not that big, 50% 325 pips sits @ 3125, if you are scalping the possible noise / ping pong zone where she is now, 150 pip above and below 3400 good luck, but those who sold 3400 will be looking for at least 3125 / 325 pips, my guess is if it plays out, it will happen a lot faster than the slow bull grind up, vertical drop would be very nice

Still watching swissy for clues, on 1hr she has pierced 200sma, which is also just above august open, presently sitting back on 200sma, key is 9260 needs to hold, presently 9266
If you are new to Forex? Say Goodbye to your account!!
  • #824,286
  • Aug 12, 2013 5:52am Aug 12, 2013 5:52am
Quoting ffleo
{quote} brits do not drop cable, something should take notice. euro charts, {image}
wait for New York session to see direction. back to sleep.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #824,287
  • Edited 6:15am Aug 12, 2013 6:00am | Edited 6:15am
Quoting sanacasta
{quote} it's for hourly chart bud. {image}

you need to go back and study what divergence is

it has nothing to do with that trend line

a bullish divergence requires a CLOSE below the last swing low, with the momentum indicator higher than the last swing low.
but the price close is key. if price simply pierces the low and doesn't close below it, technically there is no divergence.


here, this sp500 chart, the circled areas show divergences.
we have another one setting up this month, if it closes bearish. see how last month closed HIGHER than last swing high, but RSI did not? this means the potential for the divergence is definitely there

even if it doesnt close august bearish, its highly likely that in September will close bearish without a higher high on the RSI, why? Because the last RSI peak maxed itself in a "mini bubble" for 4 months, going from about 95-99.6... the chance we break 99.6 on RSI is very very very rare, so with a monthly close above the 1705 highs, with RSI sitting below 99.6... it will be a very strong sell signal... i dont really see this happening until 2014 though.

my buddy who is a quantum trader says 1709 is the big sell. which makes sense, as that would be a triple top .. and double divergence.... just like we saw in 2006/2007
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Be hopeful in a winning position, and fearful in a losing position.
  • #824,288
  • Aug 12, 2013 6:00am Aug 12, 2013 6:00am
Quoting sugarbelly
{quote} Back to babypips class
Be hopeful in a winning position, and fearful in a losing position.
  • #824,289
  • Aug 12, 2013 6:00am Aug 12, 2013 6:00am
Quoting ffleo
{quote} wait for New York session to see direction. back to sleep.
  • #824,290
  • Aug 12, 2013 6:09am Aug 12, 2013 6:09am
1,33 could be a SBR there, what do u guys think
In the end its just a stupid numbers game
  • #824,291
  • Aug 12, 2013 6:13am Aug 12, 2013 6:13am
Looks like quite a few of us (including myself) got some green pips last night.

Great job on calling the gap closure followed by more bearish movement
  • #824,292
  • Aug 12, 2013 6:14am Aug 12, 2013 6:14am
Quoting mohan76
{quote} pair of the day is GB/AUD it moved 50 pip up -> 110 down -> 13x up -> .... should pay attention to this pair , having trouble figuring s/l
I think eu /swissy has potential to be movers of the day, just little slow getting started
eu now 3300 which is psyc august open 33003 and 200 sma all converged, retest 3300 from below right now, if it holds is game over and have direction for rest of week well if it is a full moon it should , bears are doing well
If you are new to Forex? Say Goodbye to your account!!
  • #824,293
  • Aug 12, 2013 6:23am Aug 12, 2013 6:23am
Quoting KiwiTrada
{quote} I think eu /swissy has potential to be movers of the day, just little slow getting started eu now 3300 which is psyc august open 33003 and 200 sma all converged, retest 3300 from below right now, if it holds is game over and have direction for rest of week well if it is a full moon it should , bears are doing well
last closed h1 candle indicate that it holds though
In the end its just a stupid numbers game
  • #824,294
  • Aug 12, 2013 6:28am Aug 12, 2013 6:28am
taking long here 1.3293 sloss 1.3280 target 1.35
  • #824,295
  • Aug 12, 2013 6:33am Aug 12, 2013 6:33am
mrniong
  • #824,296
  • Aug 12, 2013 6:35am Aug 12, 2013 6:35am
Quoting attila
mrniong
you sure you're awake? lol
  • #824,297
  • Aug 12, 2013 6:37am Aug 12, 2013 6:37am
Quoting Pharm0r
{quote} you sure you're awake? lol
nope, and trying to take a long somewhere.
  • #824,298
  • Aug 12, 2013 6:38am Aug 12, 2013 6:38am
Quoting danzka
{quote} last closed h1 candle indicate that it holds though
yes for now, swissy is spinning top (albeit with hh hl) so ny candle is next indicator, 22mins
If you are new to Forex? Say Goodbye to your account!!
  • #824,299
  • Aug 12, 2013 6:42am Aug 12, 2013 6:42am
Quoting attila
{quote} nope, and trying to take a long somewhere.

I'm not seeing it yet.
  • #824,300
  • Aug 12, 2013 6:42am Aug 12, 2013 6:42am
Gonna close my shorts for now out with 70 pip profit. Too risky IMO at the moment
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