Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

long on 15 m hammer and then short after the retest of the 4hour shooting star, now if only i was paying attention at the time .

Originally Posted by asylum

long on 15 m hammer and then short after the retest of the 4hour shooting star, now if only i was paying attention at the time .

No worries Asylum. There is always another "train leaving the station"

Originally Posted by Spyros

You are absolutely right...it can not tell you the entries & exits. I would not ever think to use it in this way

I know you wouldn't. But a newbie might because of a lack of understanding and experience.

What I have deduced so far in comparing my methodology with that of Paul Chin's and Clivewaverider's is an emphasis on the use of indicators across multiple timeframes, the use of support and resistance, and letting the price action determine the indicator value, not using trend lines. Things are still fuzzy but it's a start.

Originally Posted by Gregory McLeod

No worries Asylum. There is always another "train leaving the station"

On the second train Greg, and about to get off near 3120 been a good morning even though I was late for the first train! :-)

Originally Posted by buggypilot

On the second train Greg, and about to get off near 3120 been a good morning even though I was late for the first train! :-)

Nice Buggypilot! You are a regular commuter! Better to be on the train than on the tracks!

My words of encouragement would not work for this guy below!

Originally Posted by rcopadilla

I know you wouldn't. But a newbie might because of a lack of understanding and experience.

What I have deduced so far in comparing my methodology with that of Paul Chin's and Clivewaverider's is an emphasis on the use of indicators across multiple timeframes, the use of support and resistance, and letting the price action determine the indicator value, not using trend lines. Things are still fuzzy but it's a start.

Let's talk about EUR my friend... in 30 min chart I am looking for D (black) in the area between 1.2901 (127.2% ext BC) & maximum 1.2810 (78.6% ret XA daily chart)... I have not give up this scenario until I see a higher high than D-A black and if time helps for a quick drop...

Originally Posted by Gregory McLeod

Nice Buggypilot! You are a regular commuter! Better to be on the train than on the tracks!

My words of encouragement would not work for this guy below!

He's skinny and I have long hair and I never ever ride the pip train without brakes (stops.) Besides it just does not look comfortable, LOL!

Thanks for the reply!


-Rod

As long as the EUR 15min trades above the 250EMA, got to stay bullish. I think the reason why the price has gone up is on the 30min and 1hour chart, the lower Boll20 has yet to get tagged. The 30min lower Boll20 (1.31137 and rising) can easily get hit. The 60min lower Boll20 (1.3099) has flatlined. It does not necessarily have to get tagged.

SPX500 Upside to 1415- Big Decline May Follow

Bearish Gartley Pattern setting up for the old "Pop and Drop" may be unfolding on the SPX500. Look for gains to be capped by old March high.

Closed out all trades now for the night - I am sure to regret it (leaving the spike on the table) but I have managed to scrape 13% of bank today playing the range and I'd rather bank. I just wish I had that crystall ball to make sure I am awake for the spike either way but that is trading for you.

I'll leave the rest of the night to you zombies out there who never sleep and will try again tomorrow.

That has been a characteristic of the rallies.

Not all zigzag indicator redraws. Maybe all current version of zigzag indicators redraw, but what if I tell you that someone has long come out with a zigzag indicator that does not redraw in order to backtest certain strategies?

I've forgotten the person's name, but the idea is like this:

Define a certain number of pips to be the minimum pips before a certain line is drawn. For example, the previous line is a downline, and it is a downline because current price has moved up at least x number of pips. Then when it moves down x number of pips, draw an upline to link the previous downline.

In this way, the revised zigzag indicator never needs to redraw, and shows exactly the same price all the time, just lagging.

It will be something like this:



I've programmed it to automatically draw trendlines and support/resistance for me. So now, I'm looking at a breakout soon

Originally Posted by rcopadilla

As long as the EUR 15min trades above the 250EMA, got to stay bullish. I think the reason why the price has gone up is on the 30min and 1hour chart, the lower Boll20 has yet to get tagged. The 30min lower Boll20 (1.31137 and rising) can easily get hit. The 60min lower Boll20 (1.3099) has flatlined. It does not necessarily have to get tagged.

The 1hour lower Boll20 was tagged during this past price dip. Maybe that could be enough to release the price from the narrowing trading range.

And the 250 EMA provided support again.

There is typically a countermove to setup a real move. Could this past dip be the setup to the move above 1.3200???

Well my expectations of the Euro making a big up move came however my entry order was missed at 2980, it sucks to miss a nice move but managed to jump back in at a pivot level. So been long since yesterday at 3098 just holding and let the market do what its going to do. We have the nice Bullish wedge and the divergence that played nicely, now looking for the wedge to break and make a move. I usually like looking for longer targets but since we have been pretty much sideways since Feb, ill look for a 3240 target if we get the break to the upside. GL all.

Short-term Bollinger Bands are forming a tight-snouted "Loch Ness monster" shape:

That is, the ranges are getting really narrow-- though the big breakout everybody keeps waiting may still not be ready. I put in shorts just before the last run-up (naturally), have entries to expand the short position if it starts to drop back to retest the ~1.300 support (which I would expect tomorrow or the next day) and another if it crashes through there (which I don't expect this week, but be prepared).

Did you see Roubini on the news ticker saying the euro needs to depreciate 30%, that is below $1.00 US? Wow, I thought *I* was a euro bear! Purchase Parity is at $1.11, and I wouldn't expect it to go that low (unless and until the EU starts actually disintegrating, which I hardly look to see, the euro will always have some reserve-currency premium built into its price). A thousand-pip drop over the next couple months, maybe; some bullish rallies in the meantime, quite possibly.