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  • #1,018,301
  • Aug 12, 2015 2:20am Aug 12, 2015 2:20am
Quoting MaxDoom
{quote} No you didn't - there was no entry below it concentrate on entries and the trades will take care of themselves, start thinking that you have to catch pops and you will end up deep in the red feel free to tell me you already know better {image}
Yes thats true. As much as i would like to say i catch pops. It never works out. Been burnt plenty of times.
  • #1,018,302
  • Aug 12, 2015 2:21am Aug 12, 2015 2:21am
Quoting MaxDoom
{quote} weekly and daily are correcting
DEFINITION of 'Consolidation'
In technical analysis, the movement of an asset's price within a well-defined pattern or barrier of trading levels. Consolidation is generally regarded as a period of indecision, which ends when the price of the asset breaks beyond the restrictive barriers. Periods of consolidation can be found in charts covering any time interval (i.e. hours, days, etc.), and these periods can last for minutes, days, months or even years. Lengthy periods of consolidation are often known as a base.

Price on the weekly is not breaking any levels there for its consolidation........


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  • #1,018,303
  • Aug 12, 2015 2:22am Aug 12, 2015 2:22am
Quoting KzX
{quote} I don't think they are going too high to today or till US at least. Very often when the rally starts before Frankfurt, continues during Fra and an hour after you can expect a bigger drop. So maybe they will give it another last push to 110 or 125, will see. I'll be watchning closely to short when I see they are getting exhausted.
Thanks for that advice. Ill just be patient in my entries today
  • #1,018,304
  • Aug 12, 2015 2:28am Aug 12, 2015 2:28am
Quoting iaveight
{quote} DEFINITION of 'Consolidation' In technical analysis, the movement of an asset's price within a well-defined pattern or barrier of trading levels. Consolidation is generally regarded as a period of indecision, which ends when the price of the asset breaks beyond the restrictive barriers. Periods of consolidation can be found in charts covering any time interval (i.e. hours, days, etc.), and these periods can last for minutes, days, months or even years. Lengthy periods of consolidation are often known as a base. Price on the weekly is not...
seriously! you think this daily chart is consolidating....

no need to reply
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  • #1,018,305
  • Aug 12, 2015 2:29am Aug 12, 2015 2:29am
Quoting jaxx80
{quote} Hello MissPips but the fib between which points? Also how do you determine how big should be the area? (For instance between 48-52% ?) Thanks
Everybody has their own. Gator has one set, the guys over in Bemac's thread have another, and I think
Mr.Hatch had a third set that he used sometimes. I just use Gator's

Well that's a really interesting question. Cloggie used to say Fiber loves the Fifty.. Again people have various methods. Read Gator's PharmOr's and Mr.Hatch's posts. An interesting variation is over in Bemacs ICCE thread too. I put them on either ranges, or the from the Highest High to the first Lower Low (or vice versa). Any timeframe, but higher ones are more reliable.
  • #1,018,306
  • Aug 12, 2015 2:30am Aug 12, 2015 2:30am
went in short at 1.1078, looking at 4hr and daily, it's still a down trend. but RSI buy signal is above 50 for all time frames, a little worried.
  • #1,018,307
  • Aug 12, 2015 2:30am Aug 12, 2015 2:30am
Quoting maxdoom
{quote} seriously! You think this daily chart is consolidating.... no need to reply {image}
read my post - i said the week and the month are consolidating, if you are going to correct me, make sure you understand what i wrote first off!

APOLOGY ACCEPTED FOR NOT BEING ABLE TO READ ENGLISH CORRECTLY
  • #1,018,308
  • Aug 12, 2015 2:31am Aug 12, 2015 2:31am
seldom trade EU cos' very erratic and difficult to catch.
  • #1,018,309
  • Aug 12, 2015 2:33am Aug 12, 2015 2:33am
Quoting robertbruce
{quote} Got it. ty.
Hey Robert,

Draw the fib on several different high and low swings and you'll see some of the consolidation in that 50 region.


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  • #1,018,310
  • Aug 12, 2015 2:33am Aug 12, 2015 2:33am
Even if the EURUSD managed to break two month old descending trend-line, also including 100-day SMA, the 50-day SMA, near 1.1100 round figure mark could continue restricting the pair's immediate up-move, breaking which 1.1260-70 area, including the 38.2% Fibo, can become next resistance to watch. On the downside, a close below 1.1020 may pullback the pair towards 1.0980.
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  • #1,018,311
  • Aug 12, 2015 2:35am Aug 12, 2015 2:35am
I would say, temp fakeout on usdx below 97, pullback up till 97.20-30, EU down.
Just gotta wait for a confirmation on H.
  • #1,018,312
  • Aug 12, 2015 2:41am Aug 12, 2015 2:41am
Quoting iaveight
{quote} read my post - i said the week and the month are consolidating, if you are going to correct me, make sure you understand what i wrote first off! APPOLOGY ACCEPTED FOR NOT BEING ABLE TO READ ENGLISH CORRECTLY
and I said DAILY and WEEKLY

and no matter how you look at the weekly it is correcting
1) retracing the larger move down in an ABC
2) nearly 50% retrace on the last move down
3) recent bars are not overlapping
4) this bar is breaking the upper trendline

you carry on and call it consolidation if you want
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  • #1,018,313
  • Aug 12, 2015 2:44am Aug 12, 2015 2:44am
Quoting hathor
{quote} {quote} {quote} {quote} Will let it run.
Started to trail closer.
f(z)=z2+c
  • #1,018,314
  • Aug 12, 2015 2:44am Aug 12, 2015 2:44am
Quoting MaxDoom
{quote} and I said DAILY and WEEKLY and no matter how you look at the weekly it is correcting 1) retracing the larger move down in an ABC 2) nearly 50% retrace on the last move down 3) recent bars are not overlapping 4) this bar is breaking the upper trendline you carry on and call it consolidation if you want {image}
Not even big enough to admit you misread what I put, the weekly trend line is broken it is now in a range between two levels from weekly supply and weekly demand, a corrective phase took place from the lows from then the range is getting tighter, this is consolidation......
  • #1,018,315
  • Aug 12, 2015 2:44am Aug 12, 2015 2:44am
Quoting MaxDoom
{quote} seriously! you think this daily chart is consolidating.... no need to reply {image}
Should be noted however that it's pretty rare for the EURO to go more than 6 days in a row in one direction without a pull back day. Eight is the most I can remember and that's pretty rare. Five is less rare.
  • #1,018,316
  • Aug 12, 2015 2:46am Aug 12, 2015 2:46am
Quoting KiwiTrada
{quote} what for?
still waiting for reason for thanks, your previous post was mid May, so must have been something big:nerd:
If you are new to Forex? Say Goodbye to your account!!
  • #1,018,317
  • Aug 12, 2015 2:47am Aug 12, 2015 2:47am
State Bank of China is selling USD left and right
Why sell the bottoms when you can buy the tops...
  • #1,018,318
  • Aug 12, 2015 2:49am Aug 12, 2015 2:49am
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  • #1,018,319
  • Aug 12, 2015 2:50am Aug 12, 2015 2:50am
Quoting ptoftangency
{quote} Hey Robert, Draw the fib on several different high and low swings and you'll see some of the consolidation in that 50 region. {image}
Gotcha. I really haven't started drawing fib levels yet. Hopefully I can get an indicator to do it for me. I've only been in Forex since April. I'm profitable but still finding what my right setup needs to be and getting educated too.
  • #1,018,320
  • Aug 12, 2015 2:52am Aug 12, 2015 2:52am
sold at 1117 and waiting to add if it hit 1120 and 1130 level...with sl 1145
Dont follow me if others express my same view, you get screwed!
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