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  • #905,361
  • Jun 19, 2014 3:20am Jun 19, 2014 3:20am
Quoting milam
{quote} are you trying to convince the bulls or are you trying to convince yourself?
neither, I cleared all my shorts below 1.3800 last night... just waiting to reload some at some point
  • #905,362
  • Jun 19, 2014 3:23am Jun 19, 2014 3:23am
Quoting ffleo
{quote} 1.4 -ish is a major resistance. We need to see how price reacts if and only if it gets there, before we talk anything above 1.4.
1.40 being a major resistance goes without say, of course it is.... but if you open a weekly TF with a Daily TF, the levels we are now bouncing from are very clear and not only that the channels are even more clear. They all point to a confluence of 1.42481 and above 1.40 towards end of 4th quarter, just.

And as i mentioned, this uptrend line being touched for the 3rd time with such a nice bounce makes it tentative, technically that is very important!
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Cheers!!
  • #905,363
  • Jun 19, 2014 3:24am Jun 19, 2014 3:24am
Quoting Vectamart
{quote} Looking at the wider picture, what we have here at the present time is USD weakness as opposed to EUR strength. GU has gone up; UJ has gone down and USD-CHF has also gone down. The weakening USD is the common factor. I suspect that recent and indeed, ongoing events in Iraq are having an influence too. As for EU climbing to 1.4390 any time soon - I can't see that happening other than in one's dreams!
  • #905,364
  • Jun 19, 2014 3:25am Jun 19, 2014 3:25am
Quoting MaxDoom
{image}
I couldn't agree more, Max.
  • #905,365
  • Jun 19, 2014 3:26am Jun 19, 2014 3:26am
it seems the bull take over n drowning the bear..
the true currencies here is patience and react precisely
  • #905,366
  • Jun 19, 2014 3:27am Jun 19, 2014 3:27am
Quoting MaxDoom
{quote} neither, I cleared all my shorts below 1.3800 last night... just waiting to reload some at some point
Magix said the other day BS will always be BS........You know how to read a chart......go to the weekly.....this is clearly a bull..........the force of least resistance is on the upside....bulls like to buy cheap.......anyway now we are still into range set by the weekly pin bar, 3676 will tell us more, certainly a great spot to make some money downwards.....ONLY MY VIEW...
Wherever you go, there you are.
  • #905,367
  • Jun 19, 2014 3:27am Jun 19, 2014 3:27am
Quoting giveachance
{quote} not wrong to take a sell order on gbp/usd.

will know in a couple of minutes im thinking yes
If you are new to Forex? Say Goodbye to your account!!
  • #905,368
  • Jun 19, 2014 3:30am Jun 19, 2014 3:30am
Quoting emmalee28
The only fundamentals you need to know about currencies on this risk-taking period is that balance sheet expantion determines currency value. This is it...
What? No? EU unemployment? Low GDP? The Euro is too high? Sovereigns billing debts? United States energy? 3rd machines printing dildos ...
"It's the Margin, Stupid."
  • #905,369
  • Jun 19, 2014 3:31am Jun 19, 2014 3:31am
now that it has finally got it's ass over 23% retrace a test of the yellow bubble is easily possible.... however, I will not take any longs I will just wait it out...
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  • #905,370
  • Jun 19, 2014 3:38am Jun 19, 2014 3:38am
Quoting emmalee28
The only fundamentals you need to know about currencies on this risk-taking period is that balance sheet expantion determines currency value. This is it...
What does it mean?
Wherever you go, there you are.
  • #905,371
  • Jun 19, 2014 3:41am Jun 19, 2014 3:41am
Quoting milam
{quote} Magix said the other day BS will always be BS........You know how to read a chart......go to the weekly.....this is clearly a bull..........the force of least resistance is on the upside....bulls like to buy cheap.......anyway now we are still into range set by the weekly pin bar, 3676 will tell us more, certainly a great spot to make some money downwards.....ONLY MY VIEW...
I have a lot of time for magix and I am of course only throwing out the probabilities as I see it. equally everything is in the eye of the beholder, take that weekly chart for instance......

some will say it is clearly bullish because of the yellow trend line, but look how many valid points that has compared to the blue trend line which price is now well below and of course it is now a LL, and just look at the arching shape of the highs clearly starting to fall and unless it now does a massive move back above 1.40 before making a new high fractal point then the next high will be a LH....

so in the eye of the beholder for sure
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  • #905,372
  • Jun 19, 2014 3:45am Jun 19, 2014 3:45am
Morning all . I closed my longs opened a week ago that were looking a bit dicey there for a bit, took a modest profit. My thinking is that this is a minor push up and will bounce of the 200 ema on the H4 at around 1.3640. I have gone short on my demo account and watching a little longer on my live

@ milam thanks for the book just finished the first few chapters....your posts are starting to be much clearer to me now
"Don't get caught trading wheat in the corn pit"
  • #905,373
  • Jun 19, 2014 3:46am Jun 19, 2014 3:46am

  1. Edged higher on Wednesday, moving slightly above the $1.3587 barrier. Both our momentum indicators follow upside paths, while the MACD entered its positive territory.
  2. As a result, I cannot rule out the continuation of the advance, maybe towards the $1.3685 zone, which coincides with the 38.2 percent retracement level of the 8th May- 5th June decline.
  3. In the bigger picture, we can identify positive divergence between the 14-day RSI and the price action, favoring further upside moves.

  • #905,374
  • Jun 19, 2014 3:54am Jun 19, 2014 3:54am
Quoting milam
{quote} What does it mean?
he can't reply to you, you will have to wait for version 29
  • #905,375
  • Jun 19, 2014 3:59am Jun 19, 2014 3:59am
Price has reached to resistance and i am adding 2nd short at 1.3638
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Love for all; Hatred for none.
  • #905,376
  • Jun 19, 2014 4:00am Jun 19, 2014 4:00am
Quoting milam
{quote} What does it mean?
It means that while the FED balance sheet is bigger and mostly important is way more prone to get bigger without thinking twice if they have too, then USD will always be sold against lets say EUR.
EUR;ECB is the opposite, they already said that they won't act for a long time now. A TLTRO that is capped at 400bn€, and we still need to see how much money will european banks really demand from TLTRO in december of 2014. Thats like 6 months from now.
  • #905,377
  • Jun 19, 2014 4:03am Jun 19, 2014 4:03am
Quoting MaxDoom
{quote} I have a lot of time for magix and I am of course only throwing out the probabilities as I see it. equally everything is in the eye of the beholder, take that weekly chart for instance...... some will say it is clearly bullish because of the yellow trend line, but look how many valid points that has compared to the blue trend line which price is now well below and of course it is now a LL, and just look at the arching shape of the highs clearly starting to fall and unless in now does a massive move back above 1.40 before making a new high...
Thanks for sharing your view......

Trend does not change on the break of the trendline, prices change after a decent BO of the major trendline and with a test of the recent high, by an undershoot or overshoot...and the line broken is not a major trend line, the one underneath is, which its tap will eventually make a confluence with a double bottom bull flag which is a very strong bullish pattern,eventually...... Prices did not get there despite the trend..... it show that bulls were eager to get in, afraid of missing.....

Yes, I agree with you, we see what we want to see.......
Wherever you go, there you are.
  • #905,378
  • Jun 19, 2014 4:05am Jun 19, 2014 4:05am
Quoting MaxDoom
{quote} he can't reply to you, you will have to wait for version 29
I was teasing him.......he knows what I think of him......
Wherever you go, there you are.
  • #905,379
  • Jun 19, 2014 4:06am Jun 19, 2014 4:06am
Quoting aahmad29
If 1.3600 level breaks then price will go upto 1.3640 atm because H4-EMA200 is at this level and there could be rejection.
I was right. H4-EMA200 will decide the further movement of price.
Love for all; Hatred for none.
  • #905,380
  • Jun 19, 2014 4:08am Jun 19, 2014 4:08am
Quoting Rockerzeus
{quote} I have 80.09 than 81.48
i have 80.185
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