Thanks, Cody. I don't really 'use' Delta now but if one is to follow the original solution, Euro is on its rotation up to a LTD high early next January. Any low within the next few days or next week or so would be the last ITD low within the current MTD low being put in. Judging by this alone, it's very bullish.
On the quant model I run, it's still bullish, and there won't be any major collapse any time soon (depending on one's risk tolerance as usual). 3272-3395 is the potential range high for the month of November (price can of course bust through it). Q4 midpoint stands at 2795 (which seems well defended) and range high at 3517. Halfway back of the last down swing since May 2011 stands at 3490. So I guess around 3500 is still the target for Q4.
and it cannot be forgotten that the fed and the USA cannot afford and does not want a strong $, Bernanke has made his stance well known as well as Draghis comments last summer. The 2 most powerful CB's on the planet are not someone I wish to stand in front of...I await weekly candle close.
Thanks, Cody. I don't really 'use' Delta now but if one is to follow the original solution, Euro is on its rotation up to a LTD high early next January. Any low within the next few days or next week or so would be the last ITD low within the current MTD low being put in. Judging by this alone, it's very bullish.
On the quant model I run, it's still bullish, and there won't be any major collapse any time soon (depending on one's risk tolerance as usual). 3272-3395 is the potential range high for the month of November (price can of course bust through it). Q4 midpoint stands at 2795 (which seems well defended) and range high at 3517. Halfway back of the last down swing since May 2011 stands at 3490. So I guess around 3500 is still the target for Q4.
I am using different models of course Franosh but I got the same target and timeframe - for what that is worth!
So the EUR USD hourly retraced back up on my position and gave me a margin call, although it has established a lower lower and lower high on the hourly chart indicating it's bearish.
On the daily EUR USD we have too bearish candles closing under the break of the trend line indicating bearish move. The NFP shouldn't be enough to push this back up, Europe is a mess and the long term bearish bias is set to take back its course according to the technical look.
I am rather prone to over-think, and so find candles highly unreliable. There have been just way too many deceptive candle patterns, even on monthly charts. When they happen to work, it seems like 'Oh it works because of this or that candle pattern', but when they fail more often than not, not many would point out that how often they also don't work or can easily find excuse to explain it away.
I am not saying anyone's candlestick pattern interpretation is wrong. Just a bit of self-indulgent grumbling in a slow market.
I am rather prone to over-think, and so find candles highly unreliable. There have been just way too many deceptive candle patterns, even on monthly charts. When they happen to work, it seems like 'Oh it works because of this or that candle pattern', but when they fail more often than not, not many would point out that how often they also don't work or can easily find excuse to explain it away.
I am not saying anyone's candlestick pattern interpretation is wrong. Just a bit of self-indulgent grumbling in a slow market.
the key to candles are where they form and daily/weekly/monthly are best. When they all agree, its a scalpers dream
I'm up 28 or so pips presently on the hourly chart as of now, 30 minutes into the European Opening session. As you can see there is a new channel that has formed, and the indicator is giving me a solid buy as well as me being at the bottom of the channel gives me a clear indication to get out with profit right now which I'm seriously considering.
The reason why I'm hesitant to get into the long is because on the Daily EUR USD chart, we are under that big trend line that was broke which is a strong bear signal. I'm torn between buying for a short position here or waiting for NFP to give a good direction after I take profit.
Okay after taking the 39 pip profit, I decided to go long for a profit target of 40 pips and stop loss of 20 pips as you can see here. I am using this new channel on the one hour EUR USD chart. NFP is coming out in 4 and half hours so hopefully it pushes it to my profit target, early reports are saying bad job numbers for the United States.
Failure to break after NFP, I see a good trade from the bottom of the range in EUR USD on the 4 hour chart. Profilt target 1.30500 Stop loss 1.2750. Risking 90 or so Pips for 200 Pips.
Yea I see those trend lines voshche, I may have to get out sooner than I planned. I was hoping it would bounce back to the top of the range, but I may get out at the top of the bearish channel instead.
Won't be for much, but it's less risky than going for the 200 pips and I don't want to break even.
hi sman1109, euro is now on very impotent level 200 Ma on 1day,which gave supports, in case of penetration I can't see chance for a growth. I suppose now began 2nd wave, and it should be finished from 0.5 --- 0.618 of first one, that's between 1.26---1.246.
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Originally Posted by Franosh 
