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  • #838,741
  • Sep 29, 2013 10:18am Sep 29, 2013 10:18am
Isn't the double top you need to be worrying about in the weekly chart ~1.3640 not on such small time frame?





Quoting babajee
At some point it is bound to happen, and double top completed now time to folded, this is what I've been waiting for now let's see how the MACD deals with area and e Fibo 23.6 or 38.2. I am short 1.3550 sl 1.3575 tp 13455. {image} {image}
  • #838,742
  • Sep 29, 2013 10:24am Sep 29, 2013 10:24am
Quoting forexalien
EU -weekly - Long Everything is showing long for the Weekly... Stochastics are in an overbought area , but could stay there for Weeks.......... ADX has All Periods showing Long, could be the start of a larger move.................. {image}
Good, but I donīt trust TA or indicators on timeframes this high (though I must admit my weekly shows a delicious hanging man atm, but the candle isnīt closed yet.) Itīs common sense to me, that the importance of patterns/trendlines etc. must gradually diminish, the higher you move up on your chart. But we could debate this all night, it would lead to nothing. Anyway: Italian government broken up, US shutdown looming - there is no way on earth Iīm getting out of my short right now.
  • #838,743
  • Sep 29, 2013 10:36am Sep 29, 2013 10:36am
Quoting Myo
{quote} Good, but I donīt trust TA or indicators on timeframes this high (though I must admit my weekly shows a delicious hanging man atm, but the candle isnīt closed yet.) Itīs common sense to me, that the importance of patterns/trendlines etc. must gradually diminish, the higher you move up on your chart. But we could debate this all night, it would lead to nothing. Anyway: Italian government broken up, US shutdown looming - there is no way on earth Iīm getting out of my short right now.
The one thing I've ever given traditional TA....fibonacci confluence. Have a look at that on a higher time frame for some interesting results. Nothing I base trades on but interesting nonetheless.
  • #838,744
  • Sep 29, 2013 10:43am Sep 29, 2013 10:43am
Quoting attila
{quote} If it does, I'll go long (what else can I do) but at this time, i'm looking lower... much lower...2540 kind of lower.. edit: I do know how this sounds.
I was thinking 1.3633, 1.3813, 1.3878, 1.3945 and 1.3992..........but of course if it drops I'll go short too

could still see my 1.3375 first before the up
  • #838,745
  • Sep 29, 2013 10:46am Sep 29, 2013 10:46am
Quoting Kanzler
{quote} The one thing I've ever given traditional TA....fibonacci confluence. Have a look at that on a higher time frame for some interesting results. Nothing I base trades on but interesting nonetheless.


Iīll look into it.
  • #838,746
  • Sep 29, 2013 11:13am Sep 29, 2013 11:13am
Quoting attila
{quote} If it does, I'll go long (what else can I do) but at this time, i'm looking lower... much lower...2540 kind of lower.. edit: I do know how this sounds.
We may dip yes after it was unable to break the highs, but 1,2540 ? a bit to low for my liking

Something i have noticed over the past few months/years with this pair is about gap (what else you can say, after all we are sunday and we HAVE to talk about gaps!)

We all know this pair is good at retracing back to its weekly close/open, no matter how far it goes, sooner or later it'll retrace to it.

Usually what it does is it retraces back to it's weekly close and only AFTER that it CAN go to the weekly open.

When the move is strong we can see 800/1000 pips before it retraces.

16/01/2011 we saw a move away 800/1000 pips before retracing to weekly close
04/05/2012 we saw the same 800/1000 pips
04/02/2013 another 800/1000 pips move away from it, we are now shy of 100/150 pips off it (1,3650)

Will history repeats itself ?

Once PA develops more, we have another weekly close at 1,329x untouched (13/09/2013) and a weekly open untouched at 1,316x (09/09/2013)

Keep that in mind for the future
COT: The precious data ignored
  • #838,747
  • Sep 29, 2013 11:33am Sep 29, 2013 11:33am
Quoting kuroro001
{quote}We all know this pair is good at retracing back to its weekly close/open, no matter how far it goes, sooner or later it'll retrace to it.
Yes, it does, even on the daily TF..
  • #838,748
  • Sep 29, 2013 11:37am Sep 29, 2013 11:37am
Quoting attila
{quote} Yes, it does, even on the daily TF..
Yes, it's a EU speciality.

I wouldn't dare play it with AU or EURAUD (3000 pips away from gap lol)
COT: The precious data ignored
  • #838,749
  • Sep 29, 2013 11:49am Sep 29, 2013 11:49am
HSBC in at 1.3476 right now, sizeable move lower
  • #838,750
  • Sep 29, 2013 11:59am Sep 29, 2013 11:59am
Quoting Myo
{quote} Good, but I donīt trust TA or indicators on timeframes this high (though I must admit my weekly shows a delicious hanging man atm, but the candle isnīt closed yet.) Itīs common sense to me, that the importance of patterns/trendlines etc. must gradually diminish, the higher you move up on your chart. But we could debate this all night, it would lead to nothing. Anyway: Italian government broken up, US shutdown looming - there is no way on earth Iīm getting out of my short right now.
This is Why I showed all TF's from the Month down to the H4, You can see the Action of each TF and Why Price is heading the direction it is.........IMO
The More You Learn, The More You Earn.....
  • #838,751
  • Sep 29, 2013 12:02pm Sep 29, 2013 12:02pm
Quoting Kanzler
{quote} The one thing I've ever given traditional TA....fibonacci confluence. Have a look at that on a higher time frame for some interesting results. Nothing I base trades on but interesting nonetheless.
I am using the same thing. Fib confluence in different tfs and harmonics in general. It would be great to talk to someone who does the same.
Good trading week!!
We watch the charts from every angle so you don't have to!!
  • #838,752
  • Sep 29, 2013 12:11pm Sep 29, 2013 12:11pm
Quoting JeremyWS
HSBC in at 1.3476 right now, sizeable move lower
there is the gap!
  • #838,753
  • Sep 29, 2013 12:14pm Sep 29, 2013 12:14pm
Quoting JeremyWS
HSBC in at 1.3476 right now, sizeable move lower
XE is one pip lower
The More You Learn, The More You Earn.....
  • #838,754
  • Sep 29, 2013 12:18pm Sep 29, 2013 12:18pm
Quoting gatorinla
{quote} yes.. but just remember it takes energy to do that. and a retrace most times happens.. on a floating scale subject to change 3512 atm... at 3576 its 3518... with a 369x target.. subject to change/tweak
Agreed! As long 1.3460 survives this butterfly could still happen if not I will be looking for 1.3420 for a possible long. Another Bfly but on 1 hr TF.
Thanks for your insights.
We watch the charts from every angle so you don't have to!!
  • #838,755
  • Sep 29, 2013 12:19pm Sep 29, 2013 12:19pm
Quoting pedro319
{quote} I am using the same thing. Fib confluence in different tfs and harmonics in general. It would be great to talk to someone who does the same. Good trading week!!
I don't use them. I trade on order flow and I'd take a trade based on my order flow analysis regardless or not of whether there was any fib confluence or not...just remember seeing something on the daily on EU quite some time ago when I did trade that way that really convinced me that fibonacci confluence has some merit, although trading it is a whole different ball of wax.
  • #838,756
  • Sep 29, 2013 12:22pm Sep 29, 2013 12:22pm
EurUsd still bullish trend
Price is below the level of the envelope.
She should go back to the channel envelope.
It is possible that the price will fly north to the level of 1.36 *** - 1.38 ***
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 89 KB
  • #838,757
  • Sep 29, 2013 12:28pm Sep 29, 2013 12:28pm
I find harmonic patterns very reliable 70% of the time with good RR, suitable for stop loss placement and risk control, plus when they fail, fail miserably and you can act upon it. So far so good. I will read more about order flow for sure, there is always room for improvement.
Thanks for replying.
We watch the charts from every angle so you don't have to!!
  • #838,758
  • Sep 29, 2013 12:33pm Sep 29, 2013 12:33pm
Quoting JeremyWS
HSBC in at 1.3476 right now, sizeable move lower
Where is gold trading?
  • #838,759
  • Sep 29, 2013 12:36pm Sep 29, 2013 12:36pm
Quoting Myo
{quote} Where is gold trading?
gold is not open at this time
  • #838,760
  • Sep 29, 2013 12:37pm Sep 29, 2013 12:37pm
Quoting Kanzler
{quote} I don't use them. I trade on order flow and I'd take a trade based on my order flow analysis regardless or not of whether there was any fib confluence or not...just remember seeing something on the daily on EU quite some time ago when I did trade that way that really convinced me that fibonacci confluence has some merit, although trading it is a whole different ball of wax.
futures trader? what platform are you on?
Any prices quoted are futures
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