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  • #1,011,461
  • Jul 20, 2015 4:48pm Jul 20, 2015 4:48pm
Quoting KiwiTrada
nice candle hrly uj just need confirmation especially with previous daily highs tested
as one would expect, the 1hr good candle progressed into a good 4hr candle (tiny body doji) followed by another 4hr doji then another patience is a virtue, 124 38 is still the marker as yet still untested, worthy of a defense
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  • #1,011,462
  • Jul 20, 2015 4:58pm Jul 20, 2015 4:58pm
following the trend is easier than trying to predict the end of it

tick tock tick tock tick tock, ups!! i mean... tick tick tick tick tick

have a good day!
Perfecting your entry will increase your profits
  • #1,011,463
  • Jul 20, 2015 5:07pm Jul 20, 2015 5:07pm
Quoting ptoftangency
{quote} Based on my calculations (worth two sh*ts), the probability of CD extension l is found by:

B = 1.091357 - A = 1.12770 = 0.03613

Using the following Fibonacci ratios:
P1 = 1.272
P2 = 1.618

(P1)CDl = 1.272B - 1.12151 = ~1.063X
(P2)CDl = 1.618B - 1.12151 = ~1.075X

  • #1,011,464
  • Jul 20, 2015 5:07pm Jul 20, 2015 5:07pm
Quoting Deliciouspip
following the trend is easier than trying to predict the end of it tick tock tick tock tick tock, ups!! i mean... tick tick tick tick tick have a good day!
and which trend would that be?
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  • #1,011,465
  • Jul 20, 2015 5:09pm Jul 20, 2015 5:09pm
Quoting tashkent
{quote} you are potentially looking at 1.06x level this week. all needed is little bit of rumor
Thanks...
  • #1,011,466
  • Jul 20, 2015 5:15pm Jul 20, 2015 5:15pm
Quoting KiwiTrada
{quote} and which trend would that be?
lets say US said they were about to hike rates, Greece is in debt (2% of EU GDP) but ELA must continue and the QE, yes US economy has been stopping but, their crisis is not here (yet) that was more a consolidation of a bigger trend than a reversal imo

dont forget to look USD index
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Perfecting your entry will increase your profits
  • #1,011,467
  • Jul 20, 2015 5:16pm Jul 20, 2015 5:16pm
Quoting Ratmach
If this EVER breaks below the 1.0820 area, what might the next level of support be? (Other than, I assume, the even 1.08 line)
I see 0718 and 0664
  • #1,011,468
  • Jul 20, 2015 5:23pm Jul 20, 2015 5:23pm
Quoting Deliciouspip
{quote} lets say US said they were about to hike rates, Greece is in debt (2% of EU GDP) but ELA must continue and the QE, yes US economy has been stopping but, their crisis is not here (yet) that was more a consolidation of a bigger trend than a reversal imo dont forget to look USD index {image}
ok not everyone broker has USD index so i share
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  • #1,011,469
  • Jul 20, 2015 5:24pm Jul 20, 2015 5:24pm
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  • #1,011,470
  • Jul 20, 2015 5:26pm Jul 20, 2015 5:26pm
Quoting Deliciouspip
{quote} lets say US said they were about to hike rates, Greece is in debt (2% of EU GDP) but ELA must continue and the QE, yes US economy has been stopping but, their crisis is not here (yet) that was more a consolidation of a bigger trend than a reversal imo {image}

agree totally, however my comment was regards to "trend" as per your chart this particular shot is strong downtrend, however if your "trend" is your friend and you focus on selling, the last 20weeks has proven more fruitful for bulls than bears
hence it is fine to trend trade when she is trending, however consolidation aka decision aka reversal aka pullback is a good time to file trend away until decision is made,

Im thinking these times trend traders (this case) are trying to sell a possible low aka bottom etc, 2nd such times allow a non trend trader to defend levels with very cheap sl,s I always use sl, I like cheap, hence for the last 2 3 months

I have been very wary eu, prefer watching uj uchf uc etc anything but eu,and Im thing all are building @ resistance so exciting times ahead
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  • #1,011,471
  • Jul 20, 2015 5:30pm Jul 20, 2015 5:30pm
Quoting KiwiTrada
{quote} agree totally, however my comment was regards to "trend" as per your chart this particular shot is strong downtrend, however if your "trend" is your friend and you focus on selling, the last 20weeks has proven more fruitful for bulls than bears hence it is fine to trend trade when she is trending, however consolidation aka decision aka reversal aka pullback is a good time to file trend away until decision is made, Im thinking these times trend traders (this case) are trying to sell a possible low aka bottom etc, 2nd such times allow a non...
my comment is regards to trend lol, watch fundamentals and combine with technicals, banks (market movers) dont take positions randombly


Buying a currency is supporting his economy, doing the opposite is the same but inverse
Perfecting your entry will increase your profits
  • #1,011,472
  • Jul 20, 2015 5:39pm Jul 20, 2015 5:39pm
h4 is flat since past 36 hrs except for that fake spike down at the close. if it was bearish 1.08 would have been sold.
  • #1,011,473
  • Jul 20, 2015 5:40pm Jul 20, 2015 5:40pm
Quoting pedro319
{quote} Hi Scott, thank you. Looks good, we have new WR1 + MR3 same place, this could probably work out for nice bounce before any move higher as current fundamentals support weaker CAD.I am looking to buy lower (1.2884) targeting that level.
if UC ever drops now from here it will not bounce at 1.288x. much lower.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #1,011,474
  • Jul 20, 2015 6:02pm Jul 20, 2015 6:02pm
Looks like the price will complete the butterfly pattern to gain momentum in order to test the triangle breakout resistance!

By the way guys, can I get your feedback about how you calculate the retracement percentages for the different harmonic patterns?
To explain my question better, lets take the butterfly as an example.
Do you guys treat the BC retracement of AB, as an either .382 "or" .866, or "between" .382 & .886 ?
Most of the websites say that it's either .382 "or" .866, in case it's .386 then CD should be 1.618, and in case it's .866 then CD should be 2.618...
But, I watched a video for Scott Carney explaining the butterfly, he talked about .382 & .866 as a "range", also about the 1.618 & 2.618 as a "range"..

so what do you guys actually use ? I guess there is no better source than the guy himself who discovered the pattern, but considering that the pattern was discovered 15 years ago, it might be that people found that connecting (.382 with 1.618) and (.886 with 2.618) gives more accurate results!
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  • #1,011,475
  • Jul 20, 2015 6:24pm Jul 20, 2015 6:24pm
Quoting ffleo
{quote} if UC ever drops now from here it will not bounce at 1.288x. much lower.
2562 or 2241 is where I'll look
  • #1,011,476
  • Jul 20, 2015 7:04pm Jul 20, 2015 7:04pm
Quoting Karpa
{quote} I see 0718 and 0664
  • #1,011,477
  • Jul 20, 2015 7:26pm Jul 20, 2015 7:26pm
Quoting KiwiTrada
{quote} as one would expect, the 1hr good candle progressed into a good 4hr candle (tiny body doji) followed by another 4hr doji then another patience is a virtue, 124 38 is still the marker as yet still untested, worthy of a defense
38 test in progress willing to try short with stop @47 gunna be green pip or quick red pip
If you are new to Forex? Say Goodbye to your account!!
  • #1,011,478
  • Jul 20, 2015 7:38pm Jul 20, 2015 7:38pm
What is amazing how Yellen kept dropping IT hike and this keeps inflating USD further and further up making very own economic recovery in jeopardy.
Once Oil breaks 50 expect thousands of people losing their jobs in N,Dakota,Texas,Oklahoma that's just oil industry which Steel industry is depended upon as far as steel prices and pipe orders filled from oil.So thousands more in Steel. Thousands more jobs lost in exports and meanwhile we will be the only idiots consciously and knowingly dig a bigger hole which would nullify last 6years of efforts to nothing cost of 8 trillion dollars.
That's the stupidity of the Feds now.

Lets be logical everyone other then Carney is devaluating their currencies.
Japan,Australia,New Zealand,Canada,Euro and we are the only idiots screaming IR hike endlessly hyping the USD.
I am not an economist but logic tells me expensive currency among ocean of cheap ones is not a good idea.Who is going to buy your goods when XYZ can produce the same lot cheaper.
Sadly we are getting deeper and deeper into consumer ,service oriented economy.Not good when you have bills to pay.There is only so much Starbucks and Walmarts can pay.
In trading, you have to be defensive and aggressive at the same time
  • #1,011,479
  • Jul 20, 2015 7:45pm Jul 20, 2015 7:45pm
Quoting Davit
What is amazing how Yellen kept dropping IT hike and this keeps inflating USD further and further up making very own economic recovery in jeopardy. Once Oil breaks 50 expect thousands of people losing their jobs in N,Dakota,Texas,Oklahoma that's just oil industry which Steel industry is depended upon as far as steel prices and pipe orders filled from oil.So thousands more in Steel. Thousands more jobs lost in exports and meanwhile we will be the only idiots consciously and knowingly dig a bigger hole which would nullify last 6years of efforts to...
Fed has always been stupid to everyones eyeballs whilst in fact the shareholders can not lose either way, usa will boom or bust, they win either wayamerican people need to wake the fukup
If you are new to Forex? Say Goodbye to your account!!
  • #1,011,480
  • Jul 20, 2015 7:48pm Jul 20, 2015 7:48pm
Think we bottomed here for now. 1.081 proved an okay support. Put in my orders for a dead cat bounce to about 1.095, 2 standard lots. Buy at 1.0815, stops at 1.08, tp at 1.095
There is no royal road to anything.
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