CHFJPY is +50 after yesterday recap. GBP news in 2 mins.
- #19,422
- Jun 10, 2014 8:02am Jun 10, 2014 8:02am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURJPY is trying to break through M 1 2 3 bearish pattern. The pattern is broken if 138.50 breaks targeting 137.98. Breakout are done in 3 ways: Breakout - Pullback - Retest, Breakout- Retest, or Trigger happy. Its always better to trade on retest and/or pullback.
- #19,423
- Jun 11, 2014 3:28am Jun 11, 2014 3:28am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURUSD is potentially making inverted Head and Shoulders pattern near the bottom. The pair is supported by a regular ( positive ) bullish divergence and 3515-05 is the zone which should hold for more upward action. That also puts EURUSD in the range ( 3515-3550 ). Above 3550 we might expect the pair to reach 3585 and 3610 subsequently and below 3505, it could reach 3480.
As you could see on the chart the pair is trying to form a right shoulder and for proper trading you need to pay attention to above mentioned levels.
As you could see on the chart the pair is trying to form a right shoulder and for proper trading you need to pay attention to above mentioned levels.
- #19,425
- Jun 11, 2014 8:21am Jun 11, 2014 8:21am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURNZD has formed a classic zig zag bearish pattern and we can see a nice downward channel. Last swing fib retracement points to intraday targets which are 5810 and 5750. Bear in mind that EURNZD is a fast pair and that its ATR is higher then most of major pairs. POC stands around 5850 and the level could provide shorting opportunities.
- #19,427
- Jun 11, 2014 1:16pm Jun 11, 2014 1:16pm
- Joined May 2009 | Status: step into liquid | 3,460 Posts
{quote} +25 pips currently. Rejection straight from POC
Good stuff Tarantula.
- #19,428
- Jun 12, 2014 8:12am Jun 12, 2014 8:12am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
EURCAD has broken M pattern and downtrend trendline. Possible selling on rallies could be achieved around POC ( 4750-55 ), towards 4660 and 4625. Every big drop needs a rally so pay attention to POC and use a trailing stop if you trade the pair because it is volatile and fast.
- #19,429
- Jun 12, 2014 8:19am Jun 12, 2014 8:19am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} It missed my limit by 3 pips. Guess I should front run my orders.
For that 3 pip miss. I usually give 10 pips free room around POC. So lets say that we want to sell a pair around 1.3950 ( random number ). I setup a pending sell. But if i am not home, i use my mobile device to watch the PA. So if i see that the price is reluctant to get to 1.3950 and its stuck around 1.3944-45 i would open a market order there. If the price gets to the level i would ADD to a trade keeping my SL intact. That is called - adding to retracement. Important thing is to keep your original SL and use your risk management, keeping the risk low.
- #19,432
- Jun 12, 2014 8:40am Jun 12, 2014 8:40am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
A/U: are they food or trap? {image}
- #19,434
- Jun 12, 2014 8:50am Jun 12, 2014 8:50am
- Joined May 2009 | Status: step into liquid | 3,460 Posts
{quote} Thanks Mike! For that 3 pip miss. I usually give 10 pips free room around POC. So lets say that we want to sell a pair around 1.3950 ( random number ). I setup a pending sell. But if i am not home, i use my mobile device to watch the PA. So if i see that the price is reluctant to get to 1.3950 and its stuck around 1.3944-45 i would open a market order there. If the price gets to the level i would ADD to a trade keeping my SL intact. That is called - adding to retracement. Important thing is to keep your original SL and use your risk management,...
- #19,435
- Jun 12, 2014 9:35am Jun 12, 2014 9:35am
- Joined Jan 2010 | Status: Trader | 2,841 Posts
i saw but did post or trade it.... retest of broken trendline - then rejection... 3730 is another support to the downside... my idea of 1.3180 before 1.41 may come true{image}
- #19,436
- Jun 12, 2014 10:19am Jun 12, 2014 10:19am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
{quote} we are closer to 1.3180 now before 1.40.. the sad thing is i didn't short any of it... i will be looking to long to the 1.55-1.57 area lower down..here is a random chart i just made up... hear me now 'i made it up'... means nothing but it could stir some ideas... enjoy {image}
- #19,439
- Jun 13, 2014 3:38am Jun 13, 2014 3:38am
- | Commercial User | Joined Feb 2010 | 14,361 Posts
hi t still have the same question wy you use fibonacci from 14825 100% to 14670 0% insted of using from 14925 100% to 14670 0% since the down trent start there ? explain to me way my fibbonacci dowing is rong ?
