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09-29-2009, 12:36 PM #23776
Well, thats it, a chart (or two) only?
Originally Posted by cmellon
I have a guy copying my blog word for word and taking credit for it.
The only thing you can do is notify blogger. With them your work is protected to some extend.
Watermarking is a good option but it is also erasable.
09-29-2009, 12:59 PM #23777
09-29-2009, 02:10 PM #23778
My first visit & post.
hello everyone, this is my first post -
I am a short term trader (intraday) and I only trade the pair EURUSD.
I pay some attention to Elliot Waves and Fibonacci numbers -
but I concentrate on the news & fundamental analysis.
So, here we are, the pair trading mid 1.4xxx
which is quite a move up since I began trading in 2005.
Although this move is a general function of the Eurozone economy relative to the US economy -
given the position and stance of the ECB & FED does anyone here have a strong view of the over-all direction for Qt4?
09-29-2009, 02:19 PM #23779
EURUSD has formed a hammer (of sorts) at 50% fib of the breakout move which also coincides with resistance-now-support of the wedge pattern which contained it for some long. Looks good for a bound to me. I'm waiting for a slightly more favourable price (1.4540) and/or a confirmed breakout of the short term descending channel.
Also, any suggestions on graphic packages for taking screen shots. I'm using GIMP (as it is free) but this new version is not working for me very well.
09-29-2009, 02:39 PM #23780
EURUSD looks good to bounce of resistance-now-support which formed part of the long term wedge formation which contained the pair for so long. The 4hr chart is showing a bullish rejection candle, could be classed as a hammer. Also, coincides with 50% fib. Trade looks good to enter although preferably I would like a slightly better price and/or confirmation that price is moving out of the short term descending channel. Think I will wait for confirmation of another price rejection of 1.4540 before committing, as price on the 1hr looks bearish.
Anyone else looking at this setup?
09-29-2009, 03:49 PM #23781
I'm sure plenty of us are waiting for that trendline to be hit to load up on the EUR if it is touched and we get the right signals, the 1.444 level coincides with the 61.8 Fib level (retracement from recent high to low) on my chart anyway so we might see the bounce off that. I am resisting the urge to sell EUR/USD at the current resistance line that has been forming over the past few days recent highs.
I just wish i had good access to SOME SORT of volume indicator at 61.8 levels in particular!. I know its not feasible to have an accurate one for FX for obvious reasons but they are referred to so often in FX trading books (and some posters on here) surely there must be some way of getting online access to something useful?!. I tend to rely on the time of day to predict volume (peak UK session etc)
09-29-2009, 03:57 PM #23782
That's exactly what I'm looking at as well. I think there will be a bounce near the upper trend line near 1.4605 sending a new test of 1.4525 and then an attempt at 4448 (61.8 fib) before a firm bounce back into bullish EUR. Dollar index has been on steady increase to support such a move and 1.4520ish hasn't been really tested to see if 50% fib will hold as strong resistance.
Originally Posted by forexraider
My guess...an attempt at near 4448 (Asher's next probable target -- and I respect his analysis) and then shooting back up to 1.46 and beyond. From a fundamental perspective, I think NFP this friday may be the pivot event that will put EUR/USD back on a northern trajectory. It would be very opportune for some central banks to put the USD back on its crash course. October is historically a month to expect some crisis to cause dramatic change in the markets. My guess...something will happen within the next few weeks. Awesome independent news analysis worth consideration is on infowars.com. Major events on the way that will rock the markets, IMHO.
This is all mho. I am interested to know asher's take on level of probability he thinks E/U will see the 44's.
I appreciate all the analyses in this forum.
09-29-2009, 04:01 PM #23783
Missing..any volume indicator that you could get your hands on is just "smoke and mirrors" in the FX market.
Originally Posted by Missing
What's the point if you don't have something that "truly" represents the market.
However, thankfully, many of us make money real regularly by not having volume indicators. So it's not a requirement to make money.
But, coming from stocks myself...and using volume a ton...I can understand your concerns.
I use the MACD following the trend and the MACD diverging away from the trend almost like a volume indicator...since it shows when heavy momentum is confirmed and when it is waning.
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09-29-2009, 05:24 PM #23784
Isn't MACD an extremely lagging indicator? I assume people that want to use it need to have a hefty margin sitting in the account and pretty wide stops.
I would assume that's why the retail crowd gets crushed 95% of the time.
09-29-2009, 06:12 PM #23785
keforex, MACD is very powerful, very powerful, MACD is not recommended to use as an indicator itself but rather look for divergences. If you follow MACD as indicator you're going to be late to get in. But don't you love to know what direction is the price going to take? That's what MACD does and in fact shows that price was going down and it did go down. I've done well so far with MACD. Also, many traders and robots follow MACD so that's a plus for MACD.
Originally Posted by keforex
Last edited by vlado; 09-29-2009 at 06:20 PM.
09-29-2009, 06:21 PM #23786
MACD is indeed a lagging indicator, statistically more crossover trades will lose than win. HOWEVER, what I believe Sean was referring to is that the MACD indicator can be used as a measure of momentum. "Momemtum precedes price" - which makes it a leading indicator.
Originally Posted by keforex
Personally, I use MACD as a custom 3/10 oscillator as described by LBR. I don't actually follow any of LBR strategies but instead it helps me confirm good setup's (i.e. divergence on pullbacks) much like volume would be used outside of the FX world.
09-29-2009, 10:07 PM #23787
Ok, Who Wants To Pick A Top.....
Ok, who wants to pick a top. Looks to me like we are close to it right now. Waiting for confirmation of a southernly turn here soon. Or am I just out of my mind. Regardless, planning on going short soon. How does 4625 swound for starters???? Let's see.
09-29-2009, 10:11 PM #23788
Why do you think we are close to a top at this level? Any chart? It looks to me it just breaks a downtrend channel and going to go higher. Buy on pullback around 4600, stop loss below intraday's low. Target 4670, this has to be intraday play since German employment number will come up later today.
Originally Posted by Snoog
09-29-2009, 11:06 PM #23789
I Hope....was just taking a quick look at the 5,15,30, & 60 min charts, and all were at peak RSI and MACD, I thought. So, I took a little short position. Yes, I shuld have checked the calendar, and I will play that later. Just in for hopefully a quick 25-50 pips. MAybe not.
09-30-2009, 01:26 AM #23790
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Now see Welcome To the Real World of FOREX 300
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But Now I got it…………JUST BE A MEAN LIKE YOU PEOPLE…..
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So DONT WORRY ..
I just want to learn.. More........About every thing While Earn....
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this is my chart
A Bit Upset of your Mean Topic...
Thanks............But No Thanks
Last edited by VINCY BALBOA; 09-30-2009 at 01:40 AM.
The Chinese Dragon!! :)