{quote} I've longed off the bounce of 2610.
- #9,964
- Oct 7, 2014 5:37am Oct 7, 2014 5:37am
{quote} {quote} I have a buy order @1.2600 , targeting 1.2650
. No problem, waiting for other opportunity .... we can find opportunity every day, just need to be patient 
We need more push to the downside before sustainable up. My guess
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- #9,966
- Oct 7, 2014 6:03am Oct 7, 2014 6:03am
I have a Currency Strength Meter on my chart and when USD is at 6 and EUR at 1 (which it has been most of the morning) I'd have needed a lot of convincing to take a long.
I used it some years ago. But some times i think it is too fast (even it takes the daily difference data). Example: at one time USD has 5, EUR has 1. But not more than 30 minutes after that, it started to changed. In one hour USD has 2 and EUR has 5. I though it was the right time to buy, but .... not long after that, USD became 4 and EUR became 3. So, this is too fast for me to make decision. Do you used it "as it is" or have you changed the code to match your needs ? I am still thinking about using 2-3 days (or weekly) difference data instead of daily. Do not know it will make sense or not, still have not tried it
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- #9,968
- Oct 7, 2014 6:15am Oct 7, 2014 6:15am
{quote} My 10 pips SL is hit
Yes a CSM is not an indi as such - just something else to look at in the grand scheme of things and it can sure change fast (PA is quicker than the CSM).
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- #9,976
- Oct 7, 2014 8:38am Oct 7, 2014 8:38am
{quote} I think it will go down now, highest is 1.2626 ...... I have closed my buy order. Will try to look the price you gave mate. Other friend here also has around 1.2700 as next high.
Edit:
{quote} I don't think we will see 1.2700 today good luck during NY
A close of the current H1 bar above 1.26630 would be bullish but a little caution needed as news due at same time and it looks a lot like a cup handle forming.
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{quote} mikimax clear for me this one. we have to look the trade opportunties in the developing zone is it right? or retrace at the full developed zone
quote:
"Uneven Transient Zones signify Tops and Bottoms with greater probability than
Even Transient Zones."
my understanding:
Uneven Transient Zones happen more often than Even Transient Zones.
quote:
"Even Transient Zones are more likely to be returned to once the H period of bars
has expired."
my understanding:
Even Transient Zones are good target/tp as the price returns there more often
after a set of H period of bars expired.
quote:
"It has been observed that it is better to wait and confirm that the LEFT SIDE
ZONE has been formed. So if H is 10, then if there is an chart Top and the 10 bars
have not breached the Top’s high…. It is potentially a fully formed Left Side Zone.
At this point, any number of bars between 1-h on the right can indicate whether
or not the zone will be UNEVEN if the bars have lower highs. This would be a
Short Trade."
my understanding:
we should try to find a developing Uneven Transient Zone, with the left side that has been already established;
we should try to enter a trade on the right side of the zone observing price action there,
attempting to get the best entry with the SL above the middle bar.
Any comments/corrections of Wise Brains much appreciated
Mind is the King