ETMA_The Evolution

Heads up for the Next week, this could the most important week of the Year.
Five major central bank policy announcements and a critical US Nonfarm Payrolls report virtually guarantees big forex volatility in the week ahead.

Forex Volatility Almost Guaranteed on Huge Week for Currencies

Take care and prepare well for these Ultimate news events.

Best,
B.R.

I dumped my Gold and Silver when i saw these pinbars.
Gold Rotates Lower From Pin at Key Resistance, 30th August 2013

http://cdn1.ltttmstatic.com/wp-conte.../spotgold1.png

Good morning bass, now am understanding better how the formation of a pin bar on D1 chat and how important it seems when on a key resistance or support, but i want to ask if it matters what candle colour it closes with?
Regards
J

No matter what the color, this Candlestick pattern on support and resistance is almost a sure fire way to make profit, the longer the wick or shadow the better the setup, just learn how to trade it and add it to your trading arsenal, there is a lot of material on the web about it and most pro traders trade it with success, just Google it.

Best,
B.R.

Very important week it will be, packed with a lot of News events guaranteed to produce a huge amount of volatility starting this morning GMT+2.

Here's the Trading Forecast.
Weekly Forex Trading Forecast
Enjoy,
B.R.

The must read list for today :

Here's The Libyan Oil Outage Chart That's Driving Oil Prices Higher Around The World
HSBC China PMI Rises To 50.1, In Line With Expectations
UK Manufacturing Report Comes In Stunningly Strong
German Manufacturing Hits Its Best Level In Over 2 Years
French Manufacturing Stays Mediocre
Italian Manufacturing Has Its Best Month In Over 2 Years
European Markets Are Off To A Great Start
Spanish Manufacturing Just Had Its Best Month Since Early 2011
Here Are The Key Economic Events To Watch This Week
Tour Warren Buffett's Office At Berkshire Hathaway

Enjoy responsibly.

Thanks for these readings, i'll look.

Gold and Silver is in the process of being rejected from support which leave the door open for the continuation of the bullish trend, Have the feel that the nikkei have come to the end of his Bear trend and may correct higher, the UJ Broke His long term ascending trendline and heading higher after the retest of the break, Crude light formed 3 days ago a huge pinbar on resistance and headed south since put struggling to establish a bear trend specially with the situation in Libya and Syria.

EU and GU Both fired a Bullish pinbars the first on support and the 2nd on his Ascending trendline support, both headed higher today but still in somehow a bear trend.
The DAX, the Dow, S&P500 and the Nasdaq are correcting mildly higher as if to retest their latest broken support turned resistance now.

Our ETMATE Status still the same like last week on the Major Pairs, EU, GU and UCAD Bear trend and UCHF, GBPCHF and UJ Bull.
Ha, forget about the EG who broke support today only to find the Lower D1 Band waiting for him @ .8475 which is also an important support, i like to say that on the Longer TF 's there is a big support congestion on this pair ( .84750 - .84650 ) and even ( .84200 - .8400 ) so its fair to say that it will be hard to break these levels without a important news event catalyst and the range being run so i can fairly assume that this pair will recover sooner or later so we better keep an eye on it.

Best,
B.R.

This is the trade i took five minutes ago.

I think reversal of overnight lose in Gold was depreciating USD.

As you can see USD lost its ground 30-50 pips in all major currencies so Gold pick up again.

Liquidity is almost back, EU ETMATE Making good short progress.

As per yesterday prediction, Gold gained its ground and now its 1415, further upward potential is expected.

The Real Deal.

i agree with you Gold seems to be down in medium and long term but it seems up in short term (imo).

GCHF printed a Pinbar exactly on the D1 Upper Band, should be watched very closely for a reversal after that all our Rules being met, on the longer TF's this rejection of PA is on a Medium level of resistance put i expect it to extend a little bit more to a major level of resistance which is the .4770 .

Hi Bass.

Harmonics give me 1,4738, fibbo ratios about the same, final R at 1,4825. Overall, also based on RSI being above heaven I wouldn't consider this for shorting by far. If anything, any pullback is long entry ATM. Am I missing anything here?? (except of the fact PA is near your daily ETMA?)


BR

http://charts.mql5.com/2/439/gbpchf-...rkets-as-2.png

T., let me first give you my opinion about all the tools that we use, none of these tools are for sure 100%, hell 50% accuracy is Extraordinary, so don't go reliying on these tools to give u the Edge, the only edge in the markets is the PA and ur ability to read it and understand it well, but there is certain Candlesticks patterns that prooved very helpful and profitable since the first days of the Financial markets and the Pinbars on support and resistance is one of them and the Higher the TF's the more reliable they are.


That being said, i like to point to you that the TMA Bands recalculate as we all know and that's why i need a solid confirmation before taking actions on the Bands because it keep following the PA until it reverse and not the opposite.


We know that the Currencies range is over when it hits the Bands but even that is debatable, for all the pairs tend to expand and contract their range during their normal market movements so we can't be sure when they will do so, it can be today or next week, but we do know that these pairs are out of steam and they are bound to reverse, so i would better have a confluence of PA pattern and the Bands on a support or resistance and to add more probabilities to my side i will wait for them to break their respective trendlines and their HL for an up trend and their LH for a down trend to take action.


So the system is : 1- PA @ the Bands, the Pair has run his Range and tend to reverse but wait it may expand and over shoot a little bit.

2- Looking for a major support or resistance level on the D1 in confluence with the Bands.

3- Waiting for PA pattern to Decide that the trend is over but wait i need more confirmation before getting in, what if we had a continuation of the trend because no signal is reliable 100%.

4- Waiting for the Trendline, the HL and LH to be broken and that is my signal (I usually enter with 1 lot @ the Break and add another lot @ the retest of that level) to make an entry and this time I'm almost sure of the outcome of the trade but wait nothing is 100% sure in the Markets, right ?, so we can have an earthquake in Japan that cause the yen to collapse or getting stronger ignoring all our so called analysis above and that my Friend is another story.


Best,

B.R.


P.S. This last paragraph is excerpt from my trading plan because this is how i trade the ETMATE, and these rules are the EVOLUTION that i added to the ETMA System.

The UJ is trying to break the all Important 100 Round number + his Upper channel Boundaries, ha i forget that he's breaking his important resistance also, very bullish but we can see that its coming to a very congested area of multiple resistance but still further away from the D1 Upper Band, let's see how it will play out.

Beware the volatility, a very Important calendar today.

A lot of volatility out there, anyway covering my shorts and took profit on the EG, the reason is PA hitting multiple support levels ( The congestion if you remember) + Lower D1 Band and some more + ADR Low after these news events + Stochastics is over sold and crossing up + WR% oversold also, from here i wait for my rules for a long to get fulfilled, i know that this pair have a good chance to take off from this very important support taking in consideration that GU is @ Resistance also which give the Cable the chance to weaken and for the EG to reverse and start to move up, and as much as i like to picks bottoms and tops i will wait with iron nerves for my rules to be fulfilled and restrain from taking any trade for the moment.


On the other hand I'm not neglecting the possibility for a break lower taking the multiple strong support with him so i will wait for the break and the retrace to take a short on the longer TF's but from the experience that i have with the ETMATE and currencies range i will say that this is unlikely scenario, but who know everything is possible.


So long or short i don't care as long as I'm in profit like now.

We are left with the US ISM Non-Manufacturing PMI, Factory Orders m/m and Crude Oil Inventories to close this volatile day and tomorrow will be worse in terms on volatility so put ur seat belt and hang on its gonna be a rough ride.


Best,
B.R.