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  • #9,721
  • Apr 21, 2016 7:54am Apr 21, 2016 7:54am
Quoting Salmas
Hello guys, I am not that good or a pro identifying patterns and shapes. Now what I see looks like a head and shoulder pattern. what do you guys think. I really appreciate your feedback on this. Thanks in advance {image}
I don't think so, see here good site for learning pattern identification.

http://thepatternsite.com/hst.html
  • #9,722
  • Apr 21, 2016 11:42am Apr 21, 2016 11:42am
you guys think i should close my short from 1.3417??

Attached Image (click to enlarge)
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  • #9,723
  • Apr 21, 2016 11:48am Apr 21, 2016 11:48am
Quoting attilafx
you guys think i should close my short from 1.3417?? {image}
​
Would you place the same size trade at the price level we are at now?
  • #9,724
  • Apr 21, 2016 11:50am Apr 21, 2016 11:50am
Quoting jsk3010
{quote} ​ Would you place the same size trade at the price level we are at now?
no
  • #9,725
  • Apr 21, 2016 12:30pm Apr 21, 2016 12:30pm
You just don't listen, do you?
Anyway, first target - 50% of 2600-2900 +- 15p - 2750, hit!
  • #9,726
  • Apr 21, 2016 1:30pm Apr 21, 2016 1:30pm
Quoting KzX
You just don't listen, do you? Anyway, first target - 50% of 2600-2900 +- 15p - 2750, hit!
Nice! Glad I closed my short out yesterday. Was sensing a push up coming. You keeping your longs for a while? Or do you think after this push the price will come back down possibly to a new low? I'm hoping to re short if and once we hit the top of the channel
Trade like a sniper not a machine gun
  • #9,727
  • Apr 21, 2016 1:32pm Apr 21, 2016 1:32pm
Quoting attilafx
{quote} no
​Then I see that as a clear time to exit a swing, maybe I'm wrong, but It makes sense to me. If anybody has an argument to this idea I'd love to be convinced otherwise.
  • #9,728
  • Apr 21, 2016 2:36pm Apr 21, 2016 2:36pm
Quoting KzX
You just don't listen, do you? Anyway, first target - 50% of 2600-2900 +- 15p - 2750, hit!
Didn't say it would go straight to 1.2 - currencies never move in straight lines - next target 1.2
  • #9,729
  • Apr 21, 2016 2:44pm Apr 21, 2016 2:44pm
Quoting Sa7an
{quote} Didn't say it would go straight to 1.2 - currencies never move in straight lines - next target 1.2
Hell it might even go to 1.28/9 - then 1.2

Attached Image (click to enlarge)
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  • #9,730
  • Apr 21, 2016 3:54pm Apr 21, 2016 3:54pm
Quoting KzX
{image}
agree
  • #9,731
  • Apr 21, 2016 9:21pm Apr 21, 2016 9:21pm
On the H1 you can see a nice rejection from bears at 1.27319 with the long wick, thats my sign for loss of momentum, opened short a bit later than i would've liked but i think we will see a push back down to at least 1.26500 tomorrow
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADproH1.png Size: 17 KB
Trade like a sniper not a machine gun
  • #9,732
  • Apr 22, 2016 7:43am Apr 22, 2016 7:43am
Quoting JunkyFX
{quote} I don't think so, see here good site for learning pattern identification. http://thepatternsite.com/hst.html
Thanks JunkyFX !
  • #9,733
  • Apr 22, 2016 7:55am Apr 22, 2016 7:55am
Quoting loser2
I'm bearish on USD/CAD until Friday, because is very possible that all CPI indexes and Retail data will be negative, meaning that USD/CAD will be higher later... Happy trading everybody!!!
All the CAD figures were positive LOL - 1.2 next
  • #9,734
  • Apr 22, 2016 8:04am Apr 22, 2016 8:04am
Quoting Sa7an
{quote} All the CAD figures were positive LOL - 1.2 next
Well, someone has to take FX_T pips

It takes a lot for me to IGNORE you, but you can try.
  • #9,735
  • Apr 22, 2016 8:06am Apr 22, 2016 8:06am
Friday flush to clear the early longs, sub 126 test seems likely this morning.
  • #9,736
  • Apr 23, 2016 8:48am Apr 23, 2016 8:48am
If this past Wed was not the bottom then the bottom is not here yet. I'm long for an avg of 1.2638. Guess next week will tell me.
  • #9,737
  • Apr 23, 2016 9:20am Apr 23, 2016 9:20am
I think everybody should clear the open positions either long or short till a direction is clearly determined.
We are now officially in a consolidation zone...Either gaining power for a sharp up or sharp down.
Why I say so...? It's because the last Friday news which were positive beyond expectations.
These news were enough to make a sharp down breaking the bottom..But after a down response to news, then went aggressively up then down.
I might be wrong...But I just noticed the price action.
Regards
  • #9,738
  • Apr 23, 2016 10:03am Apr 23, 2016 10:03am
Chart with weekly pivots - don't ya just love stairstep moves,
Attached Image (click to enlarge)
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  • #9,739
  • Apr 23, 2016 1:57pm Apr 23, 2016 1:57pm
Quoting ahmedfouad77
I think everybody should clear the open positions either long or short till a direction is clearly determined. We are now officially in a consolidation zone...
LOL What? It's a clear downtrend mate, look at higher timeframes, like the chart Sa7an just posted.
Personally I am short on this pair.
  • #9,740
  • Apr 23, 2016 2:15pm Apr 23, 2016 2:15pm
Quoting Xumm
{quote} LOL What? It's a clear downtrend mate, look at higher timeframes, like the chart Sa7an just posted. Personally I am short on this pair.
I just said "I think"...and "I might be wrong".....Con calma...!
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