still bearish, although some confirmation is needed
Attached simple chart, with few sign i see:
1) daily candle close below 100 day SMA
2) daily candle close below rising TL support which is now resistance
3) 4h chart attached show lower high and lower low, with current price fall back below Resistance TL
4) 4h macd about to cross to downside (need a red candle close confirmation)
Need to wait perhaps to see if RSI cross below 50 for further confirmation.
An inverted HAS breakout! It just happening, at 1.32995 I'll hope to pick some 50 pips!
Nice call, pick, on the inverted HAS. If you can show us the breakout pattern that would be cool. Some of us systematically look for patterns but some may not be aware of what your trying to illustrate with words. Any case, I'm appreciative of your efforts to contribute, great job. Thanx and keep those calls coming!!!
A-Yooooooooooooooooo
Last edited by AyoBro; 12-06-2010 at 09:55 PM.
Reason: Notice price has broken all 4 MAs. A second break downward would be critical past 3270ish.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
Firstly, if this is wave 3 as You suggest then there is no invalidation rule providing in retracts no more than the start of wave 1. That applies to wave 4 breaching wave 1.
Secondly, I believe it is corrective rather than inpulsive.
uffff how you keep an eye on every indicator. it will causes headache to me if i see these charts for one day.
Hehehehe, it depends on what your looking at. If you ever get interested in tracking price action for repetitive wave patterns, the necessity may take years on top of years on top of years. Otherwise, support and resistance, is Old Faithful in everyone's book.
Go ahead switch the style up' And if they hate then let them hate and watch the money pile up.'
still bearish, although some confirmation is needed
Attached simple chart, with few sign i see:
1) daily candle close below 100 day SMA
2) daily candle close below rising TL support which is now resistance
3) 4h chart attached show lower high and lower low, with current price fall back below Resistance TL
4) 4h macd about to cross to downside (need a red candle close confirmation)
Need to wait perhaps to see if RSI cross below 50 for further confirmation.
with upside potential exist, will wait and see
some follow through, it just move higher break above that crossing TL (attached), bullish RSI, if it traded above this level in europe session will expect further upside move towards 1.34 and then 1.35 and shall negate my bearish view for today.
Aussie has moved higher as well.
Before calling it a night, I just wanted to post a few charts pointing out the importance of the 1.33338 price level, where we are currently at, for anyone that is not aware.
30 mins and stretch north tgts to 3475 whereas south bound trains takes it to 3230ish..
GL...
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
well 3380 break and confirmation break will come around 3421-26, above that anything is possible... I see major hindrance around 3421-26..if it is coming to it.....
GL..
EDIT::: 30 mins channel top at 3385, need 3386 clearance....
REEDIT::: need 30 misn close above 3386 for this to prolly have wings and fly to 3420-26 test...
Last edited by stryker; 12-07-2010 at 04:52 AM.
Patience is virtue. The sooner we learn this all, sooner we can start walking to the bank. Good Luck to all of us
The trick is to wait the price meet ur limits, instead of one jumping in.. however scalps is a totally different scenario and is not everyone's cup of tea
Disclaimer: I'm not at all suggesting trades when by either posting the graphs, or my entries. You can view it, but in the end you have to use your own logic and approach, as there is no certainty about this uncertain market...
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Originally Posted by Colly
nice , also i see H&S target 1.3450
