{quote} GREAT pattern.. noted and recorded.. Thks.... 2 trend lines collide.. MMMMM
Also today we have a bid rate decison / ECB conference. In days like this, very often not having a position is equal to having a profitable one
- #18,301
- Feb 6, 2014 3:33am Feb 6, 2014 3:33am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Also today we have a bid rate decison / ECB conference. In days like this, very often not having a position is equal to having a profitable one
- #18,302
- Edited 4:25am Feb 6, 2014 4:07am | Edited 4:25am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
{quote}
from a technicial standpoint... Imo we should see 3455 before breaking 3557 high from yesterday... i have a small mini lot running short from last night since 3535 with a 25 pip stop... this is a small risk trade with a hard stop because i believe and trust in my analysis...
there are 3 levels below - 3455, 3440 and 3420 - of all 3420 crops up the most but i will close at 3455 or get stopped out
EDIT: i forgot to mention if we break 3560 then imo we go to 3630... hence my stop is there.. so it can happen - market is evil
play safe
- #18,303
- Feb 6, 2014 4:34am Feb 6, 2014 4:34am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} from a technicial standpoint... Imo we should see 3455 before breaking 3557 high from yesterday... i have a small mini lot running short from last night since 3535 with a 25 pip stop... this is a small risk trade with a hard stop because i believe and trust in my analysis... there are 3 levels below - 3455, 3440 and 3420 - of all 3420 crops up the most but i will close at 3455 or get stopped out EDIT: i forgot to mention if we break 3560 then imo we go to 3630... hence my stop is there.. so it can happen - market is evil
If we didnt have that ECB conference, id prefer to sell it around 3570-75 but if the market drops to 3455 initially and then jumps up, yes if it breaks 3557 high we would see 3570-80 again. Now pay attention to 3585. We also have a confluence up there between 3589 and 3585. So it is a confluence of historical and daily PA which indeed represents ideal shorting zone. But when we have such important data today, even those levels can INITIALLY be broken thus leading to stop clearing and covering so 3630 would possibly be hit on strong upspike momentum.
- #18,304
- Feb 6, 2014 5:01am Feb 6, 2014 5:01am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
{quote} Hey Jay, If we didnt have that ECB conference, id prefer to sell it around 3570-75 but if the market drops to 3455 initially and then jumps up, yes if it breaks 3557 high we would see 3570-80 again. Now pay attention to 3585. We also have a confluence up there between 3589 and 3585. So it is a confluence of historical and daily PA which indeed represents ideal shorting zone. But when we have such important data today, even those levels can INITIALLY be broken thus leading to stop clearing and covering so 3630 would possibly be hit on strong...
yes i have 3583 as a level of strong resistence.. getting there however causes violations which lead to 3630 which is why i didnt mention it.. i am willing to risk 25 pips on a mini lot... its all part of practice believing in myself and accepting to be wrong which ultimately will give me balls of steel
- #18,307
- Feb 6, 2014 8:34am Feb 6, 2014 8:34am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} yes i have 3583 as a level of strong resistence.. getting there however causes violations which lead to 3630 which is why i didnt mention it.. i am willing to risk 25 pips on a mini lot... its all part of practice believing in myself and accepting to be wrong which ultimately will give me balls of steel
- #18,312
- Feb 6, 2014 12:32pm Feb 6, 2014 12:32pm
{quote} Entered @ 3578 and closed at my first target where I see the confluence of TL,fib and moving avg.... I hope we get 3580-3600 again...But as of now I dnt know I ll be on long or short.. {image}
?By the way great webinar..Learnt a new point about candle changing its color at the time of reversal..
- #18,314
- Feb 7, 2014 3:59am Feb 7, 2014 3:59am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} MMM interesting question.. something that interests me that is for sure....I have noticed especialy on Cable and using calendar days.. quite often there is a connection between tops and bottoms .. ie top to btm or btm to btms or top.. top....dble btms or dble tops mostly.. common numbers I notice are 90/135/ 270.. etc.. not oall ways exact but but a few days either way.. just an observation that's all..
I would be very interested to look for for that. If you notice any connection between timings and price behavior, please write about it, so we can discuss it
- #18,315
- Feb 7, 2014 4:20am Feb 7, 2014 4:20am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
I see interesting situation on GBPJPY. We are in the 2nd swing in intraday uptrend timeframe and situation on daily suggest we are bullish. So we need to pay attention of trendline intersection and fibs. 166.45-166.20 looks interesting, as also have L3 level there. Now, since its Friday the market will probably be a bit slow and it will be waiting for the upcoming news.
