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  • #957,321
  • Feb 4, 2015 6:02am Feb 4, 2015 6:02am
Quoting hathor
Waiting for a 'W' on M5, so than new high can come. Maybe. Can be formed in to a bearish triangle, than looking for false breakout.
Closing over previous high (on lower TF) would confirm false breakout from triangle.
It would close over the descending TL either, which is coming from ~1.15300 high...

Edit: hourly close fade that pinball from earlier (but not closed over the spike yet, so pinball is still valid)
f(z)=z2+c
  • #957,322
  • Feb 4, 2015 6:05am Feb 4, 2015 6:05am
#US #Dollar #DX is trying to hold that 93.73 level. but having a ruff time going higher. IMO the top is in
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"W. D. Gann said that time is the most important factor among all things."
  • #957,323
  • Feb 4, 2015 6:11am Feb 4, 2015 6:11am
Quoting goldfinch
{quote} We both posted lengthy replies saying pretty much the same thing that can be summarised in 4 words: Storm in a teacup.
indeed ...

In the euro flat european session. After the news, equities opened intraday a test of highs (which open also a test of last highs in euro) for NY session but didn't follow without the US. ADP for the micro news long play and NY like yesterday with the upper hand for the real deal ... all via equities.

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #957,324
  • Feb 4, 2015 6:12am Feb 4, 2015 6:12am
Quoting sisse
{quote} I was checking the dxy yesterday in detail. From a strictly technical point of view there is a very strong formation for 5/3 wave extension on the weeklies. Meaning the current wave down will be truncated after we break down the lows. Making the break back up of the highs very powerful and extended move (e.g. we are talking euro parity power force)... In any case, lets see how the DXY pans out this short term move first until NFP. sisse {quote} My 2 cents, check this move and session in equities for reference not directly in the euro. sisse...
Thanks sisse, a break through latest resistance (11.870) would compromise my name again
Don't be a hero. Don't have an ego. Always question yourself
  • #957,325
  • Feb 4, 2015 6:13am Feb 4, 2015 6:13am
Shorted GJ 716. TP 10.
  • #957,326
  • Feb 4, 2015 6:14am Feb 4, 2015 6:14am
Quoting KiwiTrada
important test for edit geppy bull s underway 178 40
12hrs later another imprtant test for geppy bulls today
If you are new to Forex? Say Goodbye to your account!!
  • #957,327
  • Feb 4, 2015 6:17am Feb 4, 2015 6:17am
Quoting goldfinch
{quote} Interesting times ahead. T.
Quoting sisse
{quote} Once the real 11th hour deal between Greek Authorities and the Bureaucrats is settle or whatever... we will be already testing the lows and heading for next tranche of QE for the leg to parity... sisse
A 7 year child has a better understanding of the macroeconomics than I do sad for me but true. Therefore I'm unable to make any smart economic replies to the point you both raise.
Regarding Tsiprias change of attitude, it should not surprise anyone and neither condemn him. It's really impossible for anyone to understand the strength of the institutional realities before exercising institutional responsabilities. Now he understands that he has to compose with that realities or exit the EZ and EU institutions. Does he really wish to exit EU and EZ institutions. I dont think so. Even if he wishes, I dont think that he has the political support for that inside his country.
On the other hand, the EU and EZ leaders and institutions cant continue to act as if the elections did not take place and ignore the mandate given to the new government.
Therefore there is no other solution than a compromise. And as Sisse stated, they will come to that at the eleventh hour, not before. We will may be have an idea of what could be the compromise after today's meeting.

Thanks for your inputs
Don't be smart. Be rich.
  • #957,328
  • Feb 4, 2015 6:22am Feb 4, 2015 6:22am
EU is going down?
anyone shorting?
  • #957,329
  • Feb 4, 2015 6:24am Feb 4, 2015 6:24am
Quoting janpec1000
Shorted GJ 716. TP 10.
TPed.
  • #957,330
  • Feb 4, 2015 6:25am Feb 4, 2015 6:25am
Quoting gnlazarus
EU is going down? anyone shorting?

Don't jump on the train just yet, we are still consolidating. Shorting here will just have you entering the chop, wait for a continuation pattern developing on the lower TF's before you short this. Also keep an eye out on GU, that is still grinding higher on the back of some good news, that pair needs to consolidate first also. We are in noman's land with a slight bias for dollar flow based on the cross currencies.

Hold tight for that bit longer, look at your price patterns and judge when the chop finishes for your continuation of the intraday direction.
A contrarian; I always disagree.
  • #957,331
  • Feb 4, 2015 6:28am Feb 4, 2015 6:28am
Quoting maximinus
{quote} {quote} A 7 year child has a better understanding of the macroeconomics than I do sad for me but true. Therefore I'm unable to make any smart economic replies to the point you both raise. Regarding Tsiprias change of attitude, it should not surprise anyone and neither condemn him. It's really impossible for anyone to understand the strength of the institutional realities before exercising institutional responsabilities. Now he understands that he has to compose with that realities or exit the EZ and EU institutions. Does he really...
Tsipras nor Varo want to exit EZ, they stated that many times as strong as they could, you cant even discuss about Greexit if Greece goverment has no interes about leaving, unless Germany kicks you out which i dont know if its possible to be done and even if possible very very unlikely. So lets not discuss Greexit, its fairytale for now.
  • #957,332
  • Feb 4, 2015 6:28am Feb 4, 2015 6:28am
Quoting Z3iz3i
{quote} Yes. DX has room to come down some more and likely hassle and turnaround comes up on 3rd week this month. There is really some art of FX underway, i just hope that it wont be screwed up. For me eurusd is valid for buying when it trades above 1.1425 and not having equal or bigger than 15min closes below that mark.
Cable a lot ahead.
They think they are smarter than I am.
  • #957,333
  • Feb 4, 2015 6:29am Feb 4, 2015 6:29am
Ok EU hh hl m5, 480 target.
  • #957,334
  • Edited 6:44am Feb 4, 2015 6:33am | Edited 6:44am
Quoting janpec1000
{quote} Tsipras nor Varo want to exit EZ, they stated that many times as strong as they could, you cant even discuss about Greexit if Greece goverment has no interes about leaving, unless Germany kicks you out which i dont know if its possible to be done and even if possible very very unlikely. So lets not discuss Greexit, its fairytale for now.
Of course I agree with you, I stated multiple time that Grexit is an urban legend (like many other legends favored in this thread) unless they wish it. Nor Germany neither any other country can kick them out. But there is a but and that is : Mario and Mario only could (please take note of the conditional form this is not a certainty) do that indirectly.
Don't be smart. Be rich.
  • #957,335
  • Feb 4, 2015 6:51am Feb 4, 2015 6:51am
Quoting goldfinch
{quote} I keep saying it here, trade what you see, not what you think. It is all right there in front of you. A price chart is talking to you, you need to learn to listen.
Hi Gold,
would you be kind enough to post at least once a chart, even a closed trade chart. I'm very curious and want to see what you see
Don't be smart. Be rich.
  • #957,336
  • Feb 4, 2015 6:54am Feb 4, 2015 6:54am
Quoting goldfinch
{quote} We both posted lengthy replies saying pretty much the same thing that can be summarised in 4 words: Storm in a teacup.
Or put another way:
the bastard bankers won, sorry Greece you're well and truly fooked up the moussaka without a spoon or a paddle
Sorry should keep the reality of the corrupt monetary system and emotions out of trading
used to be undecided but nowadays can't make my mind up
  • #957,337
  • Feb 4, 2015 6:58am Feb 4, 2015 6:58am
Quoting goldfinch
{quote} See how 597 is playing out? As a trader you need to identify your important levels that will lead to price pattern formation, don't just jump on a green or red bar, really try to figure out first what is happening, where and why, then trade the result. I keep saying it here, trade what you see, not what you think. It is all right there in front of you. A price chart is talking to you, you need to learn to listen. Picking numbers like 480 out of thin air that have no meaning or purpose is not speaking the right language. The same is true...
Very good explanation, crystal clear.
Wish to learn more from you!
Not searching for unusual subject matter but making the commonplace unusual
  • #957,338
  • Feb 4, 2015 7:02am Feb 4, 2015 7:02am
Quoting fxtyrant
{quote} Sooo i guess i was right after last night's initial move up to 1.1492, we began seeing people go short i but i knew games werent over and predicted that 1.15 eould be taken out with some overshoot and reversal... But well it overshot by 33 pips recorded highs at 1.1533 last night oh well, im in short eurusd now, and in profit
those who can, do. those who cant, talk about those who can
  • #957,339
  • Feb 4, 2015 7:02am Feb 4, 2015 7:02am
Quoting maximinus
{quote} Hi Gold, would you be kind enough to post at least once a chart, even a closed trade chart. I'm very curious and want to see what you see

It is the same chart you have, we are talking about what is going to happen based on what the current chart says. I can't post that chart, it hasn't formed yet. I am showing you what to look out for, what levels are important for FUTURE price action.

When you have a conversation with a friend, you don't need to write it down, you can picture that conversation in your head as it develops. The same is true with reading a price chart, you need to picture in your head what is going to happen and why. During a conversation your mind will complete a sentence, your mind will give you an image of what that conversation is about and where it is going, the same should happen with reading the price.

It is talking to you, listen to it, don't get too hung up on what the chart is already saying, focus on what it is going to say, how it is going to develop and why. I gave Janpec1000 2 levels to watch out for to correct his understanding that 480 was important, it isn't, it is irrelevant, he is not listening to his chart.

Go put the 2 numbers on your own chart and see what is developing, you may not see the why right away, but you can see it does happen, you can see the interaction.

On an earlier reply to another poster I gave the scenario of a continuation play. Price rarely moves in a straight line, it will always consolidate, your job is to identify where and why and trade the result. Avoid the chop, identify where the chop occurs and trade where it goes next.
A contrarian; I always disagree.
  • #957,340
  • Feb 4, 2015 7:07am Feb 4, 2015 7:07am
Quoting goldfinch
{quote} It is the same chart you have, we are talking about what is going to happen based on what the current chart says. I can't post that chart, it hasn't formed yet. I am showing you what to look out for, what levels are important for FUTURE price action.
Never mind. As I said, I was curious and was not in need of clarity for you are very clear in what you say.
Don't be smart. Be rich.
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