Cesarnc's market talk, gossips, rumours & fun

...Nice trades like usual Sir., nice trades in deed....

....Don't know if I should take profits here or let it go.....

"Rinse and repeat", I like your forex lingo Sir

Rinse and repeat

This was an easy one

You Rock Chonchy, Rock indeed

...Excellent trade Sir. you catch it in the act, awesome.....

....You too Sir. Ill-b-back, you rock solid....

..We broke up on E/U and I don't think we are coming back, hopefully if we go to 1.1310, I get out at break even, or one or two pips in profits....bad trade....

If NZ retests the weekly breakout Sir, I think it will be time to sell

Target the next fib below near the main ascending TL would be my bet

AU getting ripe to short also Sir as it retests the broken ascending monthly TL

with a similar fib support target below

However we choose to display it Sir,
overall it is bearish,
very bearish indeed

ha ha, thankyou Sir chonchy

So what shall we say of Fibs Sir?

Are they useful?

Or are some still afraid of a little hocus pocus uh.....

Some will say they are the thoughts of fantasists
Come back to reality they might say.

Reality is in the chart and what it produces

A picture is worth a thousand words (or arguments)

.....I believe all roads lead to rome, some like fibos, some likes trend lines, some like moving averages, but I think they all say the same to the observer, in its own way, I believe the moving averages tell me the same thing, to me, to the train eye, what pivots points, trend lines or fibos will tell to you or another person, the thing is to have an idea of where price is going next, and that I try to do it with moving averages, MACD and RSI, I couldn't trade without them, but I'm learning to use the trend lines with you and the fibos with and pivots with CrazyOz and so on, tree heads think better than one.......Also I don't look to one time frame, I need that two or more time frames tell me the same direction, or more, my ideal trade is when all time frames are all in sync, or at least tree or four time frames telling the same thing, for example this instrument is oversold, but it could go lower, is in no mans land on the lower time frames, so is out of sync, no trade for me at this time......

Monthly is at the bottom to make a double bottom with the last fall of nov 2008, if you notice RSI and MACD are in a more favorable position than the last one, when it fall on nov 2008, so I will like to catch it at the low of 34.97 with a tite stop, but it may go up from here, depending on the funnymentals, I don't know the funnymentals of this pair, that is why I don't trade it......is hard to know all in a pair, imagine two.....I only rather trade e/u....



Weekly is oversold also, but if you notice in January was also over sold and it keep going a lot after that so it may keep going but I will be looking for a turn around here at the 40.85 level...



Daily is retracing or like I like to call it, regrouping, is going for the 0 line on the MACD, and RSI is in no mans land, no sync, it could go either way...it found resistance at the green ema 30 in the past few weeks, so it may bounce down to keep the down trend, or turn up and change trend...



4Hour is already at the 0 line on the MACD and RSI is neutral, so it could go either way here, no sync, no trade....all moving averages are all tangle up and show no direction.....



One hour is in the same situation, no sync with no body, no direction, no trade....



30 Minutes is the same, no trade, no sync, no game.....

...In an ideal set up I want to see a sync on all time frames one way or the other, I want to see angle and separation on the moving averages, price at support or resistance, and I want to see power, London open, Frankfurt open, or the overlap of London and New York.......

There is a good angle and separation on this weekly chart, we need to look for this in other time frames also, but a perfect trade will be when price reached 0.9252 1 may 2014, where price hit a wall on this trend down and bounce down, with a tite stop this is a perfect trade that took us a lot of pips down, 0.7630 was the exit, when MACD and RSI reach the bottom...then rinse and repeat.....this is a long term trade wish if manage properly can make a good % for your acc, in one trade, and you can also add at the retraces to the red ema 100, or to the green ema 30....

Indeed Chonchy, you put a few different pieces together and put the odds in your favour

UC: A retest of 1.2955 monthly support area could be a good spot to look for longs Sir
A lot of Daily TF confluences there