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  • #21,221
  • Mar 28, 2015 11:04am Mar 28, 2015 11:04am
Quoting our4link
Price will sell at fibonacci retracement 61.8 level.... {image}
what makes you think price needs to retrace as far as 61.8 fibs level instead of 50% level has been rejected to continue the leg down?
if you scroll back weeks or months ago, price cant even retrace as far as 0.236 fibs level. This couple of days retracement is because of dovish fomc and its wick, but everything is clear now as your 50% fibs level has been visited thrice. The last visit isnt an ordinary visit like 2 bars before, it is also rejects the FOMC high (1.1042) then go back to form unperfect engulfing bar. The very strong confirmation after all your thrice visit in 50% fibs level is Friday bar go another visit to 1.094x which is as i expected. I go short at 1.0930 instead of 1.094x because cant catch the fast visit-and-drop
  • #21,222
  • Edited 11:49am Mar 28, 2015 11:26am | Edited 11:49am
I will wait for price go down or up at that current point. Because if price stop at 0.8891 and reverse back towards 1.1000 then i think 1.1000 will be perfect point to enter ion market. But if price moves more up from resistance 1.1000 then i will more wait and enter sell trade at 1.1100......... But may be price not stop at 0.8891 and going continuously down then i will think about sell.... I am just giving you some advices may be your point perfect but mine are very risk free.....There are chances that price go back towards 1.1000 and then go more towards 1.1100 but if price moves down at 0.8891 then i can think to sell.......
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  • #21,223
  • Mar 30, 2015 1:21am Mar 30, 2015 1:21am
Quoting plukin
{quote} Hmm, and what's your conclusion based on those data/experience/pattern then? What T answers doesn't matter much, he has his style that fits him..you obviously have your unique style, your patterns and obviously you spot what you spot..so what do you do with this information? If SL at BE would kick me out and that would be pretty much the pullback and than back into TP..then I'd consider moving that SL by couple pips away so I give the move room it obviously needs. But hey, that's just me. Trading is about awareness, spotting patterns...
very useful stuf just for the record iīm using this 10 pibs +2 sl then let it roll if it goes ok at 30 pibs 10p sl beter to be stop then lose in time y will acurate more the strategy but the important for me is entry positive .
5 eyars doing my home work to find something that fitīs to me t paterns are very good and 95% acurate as he says very good , so make the homework you have in 100 trades 5 more or less that gives to you 30 to 50 pibs loss but you have 95 to make same times 2 sometimes 100 do the math . be pacient and the acount will grow up .
Scalping
  • #21,224
  • Mar 30, 2015 2:17am Mar 30, 2015 2:17am
GBPUSD has a MASTER candle on daily chart. Master candle serves as interim support and resistance candle , which marks the important range. SO until the Master candle is broken the pair is trapped within 1.4633-1.5163 range. We can also see a squeeze which is happening after the master candle which is giving us the hint that the breakout could be strong. So far on intraday charts we have had sell the rallies but for mid term perspective and mid term traders this concept is particularly useful. So, pay attention to master candle breakout when it happens.

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  • #21,225
  • Mar 30, 2015 3:28am Mar 30, 2015 3:28am
Quoting T@rantula
GBPUSD has a MASTER candle on daily chart. Master candle serves as interim support and resistance candle , which marks the important range. SO until the Master candle is broken the pair is trapped within 1.4633-1.5163 range. We can also see a squeeze which is happening after the master candle which is giving us the hint that the breakout could be strong. So far on intraday charts we have had sell the rallies but for mid term perspective and mid term traders this concept is particularly useful. So, pay attention to master candle breakout when it...

what wud b the SL for this type of setup chief? Actually I tried this on demo on EU when it broke FOMC high by 9 pips.
  • #21,226
  • Mar 30, 2015 6:49am Mar 30, 2015 6:49am
Quoting kalyan
{quote} what wud b the SL for this type of setup chief? Actually I tried this on demo on EU when it broke FOMC high by 9 pips.
No setup yet. But it will give us additional hint for the next major direction. Daily close above or below the range is needed.
  • #21,227
  • Mar 30, 2015 7:30am Mar 30, 2015 7:30am
I personally would love to see some bigger USD correction. Such strong USD dollar is hurting the US economy. As for GBP, we will have many importat releases this week. ( check the calendar ) + NFP on FRI. Should b a volatile week.
  • #21,228
  • Mar 30, 2015 7:42am Mar 30, 2015 7:42am
Quoting Sants
IMO, USDCAD will go up in several days ahead. Reasons: 1. Thursday bar touched the daily support (red line) and bounce back approximately 60 pips (rejection of daily support). 2. Friday bar retrace to 1.2471 and rejected again<<a visit for 1.2471 confirmed that daily bars support lines totally rejected and bounce back. However, Friday's pump is really huge pullback, pumping price almost 140 pips. Now price will targeting daily resistance again at 1.2645. With Fridays reaction, i think 1.2645 will be passed easily as bear drop the price from 1.2835 to 1.2409 (approx. 400pips) in 8 days, but bull pull up the price by a half of it (200pips) by one day. This is showing that bull power is really in streoids and ready to pump higher. {image}
UCAD is moving now. Last friday's setup is working, on the process to reject some levels. Atm, USD strength is too huge after middle east case which make investor searching for safe haven (USD). Im personally waiting for this in several days, when it rejected the 1.2784 and 1.2798 in one single blow. That will be a perfect short area to target 1.24 once more (1st target 1.2645, then 2nd target 1.24)

Quoting T@rantula
I personally would love to see some bigger USD correction. Such strong USD dollar is hurting the US economy. As for GBP, we will have many importat releases this week. ( check the calendar ) + NFP on FRI. Should b a volatile week.
USA seems dont care with strong USD as USA not export oriented, am i right
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  • #21,229
  • Mar 30, 2015 8:00am Mar 30, 2015 8:00am
Quoting Sants
USA seems dont care with strong USD as USA not export oriented, am i right {image}
Rising dollar lowers the value and sales which are made overseas. As far as I know USA exports Machines. Electronic equipment, pumps, and oil. Also might do something with aircraft, car and military equipment. Their biggest exports go to China, Japan and Germany.

They should definitely care about strong US dollar.
  • #21,230
  • Mar 30, 2015 8:22am Mar 30, 2015 8:22am
Quoting T@rantula
{quote} Rising dollar lowers the value and sales which are made overseas. As far as I know USA exports Machines. Electronic equipment, pumps, and oil. Also might do something with aircraft, car and military equipment. Their biggest exports go to China, Japan and Germany. They should definitely care about strong US dollar.
quite agree, but with trade balance approximately negative 40B, would the weak dollar affect more economy?
Hm Fed take the 'strong dollar' into account for the hike. Strong dollar makes slower inflation, could be dangerous if it is below 2%. Made a point, thank you Sir
  • #21,231
  • Mar 30, 2015 8:42am Mar 30, 2015 8:42am
Quoting Sants
{quote} quite agree, but with trade balance approximately negative 40B, would the weak dollar affect more economy? Hm Fed take the 'strong dollar' into account for the hike. Strong dollar makes slower inflation, could be dangerous if it is below 2%. Made a point, thank you Sir
They will go slowly with rate hikes definitely. No problem, you are welcome!
  • #21,232
  • Mar 30, 2015 11:12am Mar 30, 2015 11:12am
[quote=Sants;8173280]{quote} UCAD is moving now. Last friday's setup is working, on the process to reject some levels. Atm, USD strength is too huge after middle east case which make investor searching for safe haven (USD). Im personally waiting for this in several days, when it rejected the 1.2784 and 1.2798 in one single blow. That will be a perfect short area to target 1.24 once more (1st target 1.2645, then 2nd target 1.24) {quote}

Both london and NY seems agree with dollar bull. still waiting for 1.279x to short UCAD
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  • #21,233
  • Mar 31, 2015 3:07am Mar 31, 2015 3:07am
EURUSD price going low but at 1.0692 EU price will rise due to 2003 Support and 1999 Resistnace.
At 1.0692 EU market also touch fibonacci retracement 61.8 level....
And by wave analysis X -wave would complete at 1.0692 and new Y -wave will start which giving us signal EU market can rise.....
And market can SELL again at 1.1000........
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  • #21,234
  • Mar 31, 2015 3:27am Mar 31, 2015 3:27am
EURUSD is targeting 1.0650 as I explained. We might see that soon
  • #21,235
  • Mar 31, 2015 3:29am Mar 31, 2015 3:29am
Quoting T@rantula
EURUSD is targeting 1.0650 as I explained. We might see that soon
Yes mine Buy zone also cover this filed approx...
  • #21,236
  • Mar 31, 2015 3:54am Mar 31, 2015 3:54am
Quoting T@rantula
EURUSD is targeting 1.0650 as I explained. We might see that soon
USD strengthening against EUR. Might explain strength in Dax at Open today holding very near all time highs, and interested to see if we get some reversal on SP500 on NY Open today.
  • #21,237
  • Mar 31, 2015 3:55am Mar 31, 2015 3:55am
Quoting Sants
{quote} what makes you so sure? any chart? My decision on short at 1.0930 based on what i learned for daily candles technique as i mentioned above. One thing makes me wonder it will go up again is because fridays forming pin bar, but a pin bar in the middle of no where (not in key resistance or key support levels is just a noise and not a valid signal for reversal). Hence, so far so good for bear. Couple of terms have been ticked for bear to continue the leg down at least to 1.0650 - 1.0660. Goodluck
setup has been working since last friday. strong usd in week opening, hm could be a dump before a pump or another leg down closer and closer to parity, awaiting for friday NFP, oh good friday ure so cruel
  • #21,238
  • Mar 31, 2015 4:03am Mar 31, 2015 4:03am
Quoting kalyan
{quote} I may short EU at 1005 as a scalping trade, if it comes there. But 0942 is a immediate hurdle. But below 0942 still I look for 0710
Possibly a small halt at 0710.
  • #21,239
  • Mar 31, 2015 4:57am Mar 31, 2015 4:57am
Quoting kalyan
{quote} Possibly a small halt at 0710.
Dont have that level in the history but obviously it is support.
  • #21,240
  • Mar 31, 2015 5:04am Mar 31, 2015 5:04am
Quoting T@rantula
{quote} Dont have that level in the history but obviously it is support.
I think If this level gives a retracement I see 0762 can be freshly sold for lows.
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