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EURUSD

  • #878,441
  • Feb 23, 2014 2:05pm Feb 23, 2014 2:05pm
On the larger 4hr timeframe chart, I see two things happening. First, there is a potential head & shoulders pattern forming. Second, the neckline of the H&S pattern is exactly at a major pivotal support/resistance zone of 1.5000. Based on this pattern, I am looking for a suitable location to go short. Where is the ideal location? The price action is offering some clues.




Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4hr.png Size: 79 KB









In the chart below, I see a smaller inverted H&S pattern. This is a 330pips inverted H&S. If I use a 1:1 price target for the inverted H&S, the price objective comes to 1.5650. Furthermore, 1.5650 is also the 78.6% FIB retracement, thereby lending stronger weight to the success of this trade.




SHORT EURAUD 1.5650
SL 50pips
TP 1.5000








Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD 4hr 03.png Size: 94 KB
  • #878,442
  • Feb 23, 2014 4:39pm Feb 23, 2014 4:39pm
Quoting Dano12
{image} {image}

http://www.forexfactory.com/showthre...25#post7285025
Attached Image (click to enlarge)
Click to Enlarge Name: ed4.gif Size: 153 KB
  • #878,443
  • Feb 23, 2014 5:10pm Feb 23, 2014 5:10pm
Quoting gatorinla
closed mine until next week
looking to s if we get here at 3755...stop will be tight.. if 3758/59 holds i will shoot for 3611 area..
gbp will s with =% risk 66705 67075 6730.. with stops just above 6733... eu is more problematic if it breaks ..3759 and it may want higher in the 3822 area.. still looking to s w/o that break and 3740 is not a bad area to s since its a norm... i will wait, for not other reason on the eu except, 3755 is higher.. 3740 is often all it gets..
those who can, do. those who cant, talk about those who can
  • #878,444
  • Feb 23, 2014 5:19pm Feb 23, 2014 5:19pm
It seems to me that this advice applies to traders also.
http://www.mobiledia.com/news/188186.html
  • #878,445
  • Feb 23, 2014 5:24pm Feb 23, 2014 5:24pm
Quoting rehorst
It seems to me that this advice applies to traders also. http://www.mobiledia.com/news/188186.html
Agreed. Thanks for sharing!
I'm a dog chasing cars.
  • #878,446
  • Feb 23, 2014 5:39pm Feb 23, 2014 5:39pm
Quoting JeremyWS
Last week was the smallest pip range for the EURUSD since introduction at 88 pips the % range was 0.64% which is also the tightest since 1999 introduction {image}
I believe it to be a direct consequence of algorithm trading.

The tendency is for price to stay in smaller and smaller ranges, as algos get "smarter" and quicker.

Than explosions of high volatility for short periods.

Traders who don't or can't adapt will die.
Don't call me. I call you!
  • #878,447
  • Feb 23, 2014 5:56pm Feb 23, 2014 5:56pm
Everything in FX is mathematical and technical ,fundamentals are to accelarate the trend nothing else.
  • #878,448
  • Feb 23, 2014 6:09pm Feb 23, 2014 6:09pm
Quoting MarginCalled
{quote} I believe it to be a direct consequence of algorithm trading. The tendency is for price to stay in smaller and smaller ranges, as algos get "smarter" and quicker. Than explosions of high volatility for short periods. Traders who don't or can't adapt will die.
I don't disagree with you over algos becoming more and more common, but if you look at the chart Jeremy attached, pip range hasn't changed almost at all since '95. Sure, we very well may be a period of lower ranges, but a similar situation happened through '96-'97. The pattern from '05-'07.5 looks pretty similar to '12-present pattern. Maybe this downward spike is just an irregularity. I guess only time will tell. As we both know, however, this low price range should give us some good action soon.
I'm a dog chasing cars.
  • #878,449
  • Feb 23, 2014 9:25pm Feb 23, 2014 9:25pm
PTL ej had a b/o to go higher. 138.73 is a realistic retrace before.. on a smaller tf 140.22. i would like to sell the eu from higher although 3740 may be a good deal. on the ej st [140.22 area ] one i may get the eu bounce to 3755..if it goes above 3759, i will be less inclined to short eu atm. atm ej at 140.60
those who can, do. those who cant, talk about those who can
  • #878,450
  • Feb 23, 2014 9:33pm Feb 23, 2014 9:33pm
Quoting Raypower
Everything in FX is mathematical and technical ,fundamentals are to accelarate the trend nothing else.
exactly, it seems you have acquire the required knowledge to trade, very well said.

news are just catalyst.
I am smart than average trader, I simply copy the best.
  • #878,451
  • Feb 23, 2014 9:40pm Feb 23, 2014 9:40pm
Quoting I-Robo
{quote} exactly, it seems you have acquire the required knowledge to trade, very well said. news are just catalyst.
Is the word "news" singular or plural?
The Thief of Wall Street
  • #878,452
  • Feb 23, 2014 9:45pm Feb 23, 2014 9:45pm
Quoting Chicky
{quote} Is the word "news" singular or plural?
is "olds" the negative form?
those who can, do. those who cant, talk about those who can
  • #878,453
  • Feb 23, 2014 9:54pm Feb 23, 2014 9:54pm
Quoting gatorinla
{quote} is "olds" the negative form?
This is the problem with the word "news". The correct word is "freshes" because "news" get stale, and not "old".
The Thief of Wall Street
  • #878,454
  • Feb 23, 2014 10:07pm Feb 23, 2014 10:07pm
Quoting Chicky
{quote} This is the problem with the word "news". The correct word is "freshes" because "news" get stale, and not "old".

New is a adjective. News is a substantive. People want to know what is new, what just happened.When more than one thing happens you say two or three new things happened. Note that the word "new" does not get the "S". Than when somebody compile various new events it becomes the NEWS, which is a substantive.

​I'm not an English teacher so take it with a grain of salt
So, you think you have rights? LOL
  • #878,455
  • Feb 23, 2014 10:20pm Feb 23, 2014 10:20pm
Quoting MarginCalled
{quote} I believe it to be a direct consequence of algorithm trading. The tendency is for price to stay in smaller and smaller ranges, as algos get "smarter" and quicker. Than explosions of high volatility for short periods. Traders who don't or can't adapt will die.
i dont believe so.. everything can happen in "algo vs algo" trading scenarios.. for example this ridiculous stuff: http://www.michaeleisen.org/blog/?p=358

statements such as: "algotraders are causing 'x' response over the market blah blah..." or "algotraders are causing volatility because blah blah.." have no real foundation.. and if they do please send me a copy of those papers :nerd:
K.I.S.S.
  • #878,456
  • Feb 23, 2014 10:30pm Feb 23, 2014 10:30pm
happy new week everyone!! lets get right this week's trend !! we are TRADERS
Inserted Video
K.I.S.S.
  • #878,457
  • Feb 23, 2014 10:33pm Feb 23, 2014 10:33pm
Quoting gatorinla
PTL ej had a b/o to go higher. 138.73 is a realistic retrace before.. on a smaller tf 140.22. i would like to sell the eu from higher although 3740 may be a good deal. on the ej st [140.22 area ] one i may get the eu bounce to 3755..if it goes above 3759, i will be less inclined to short eu atm. atm ej at 140.60
near that area now 140.32 atm.. the low to the left is 140.32, so 140.22 is doable. the eu is still atm just a few pips under 3740. so if the ej bounces i may get the 3755 for my s entry
those who can, do. those who cant, talk about those who can
  • #878,458
  • Feb 23, 2014 10:33pm Feb 23, 2014 10:33pm
We have some german data coming up monday, maybe its time for euro to hit 1.38/1.39 tdy if the data are strong....and NY session should see the euro being pumped up again..
  • #878,459
  • Feb 23, 2014 10:37pm Feb 23, 2014 10:37pm
where the german news you get from? @johnsmith78
  • #878,460
  • Feb 23, 2014 10:40pm Feb 23, 2014 10:40pm
Quoting Leijenberg
{quote} i dont believe so.. everything can happen in "algo vs algo" trading scenarios.. for example this ridiculous stuff: http://www.michaeleisen.org/blog/?p=358 statements such as: "algotraders are causing 'x' response over the market blah blah..." or "algotraders are causing volatility because blah blah.." have no real foundation.. and if they do please send me a copy of those papers :nerd:

The guy does have some documentaries on his thread about HFT that support his theory. I really don't know for sure if algos are changing the market but they definitely caused the extinction of pit traders
So, you think you have rights? LOL
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