[quote author=Piponomics]Stopped out. Oh well. Half a loaf is better than none. Anyone know whats causing the down move?
I guess its the harmonics finally coming to play, GU has been ripe for a fall since Friday and while it may have remained bullish, this is the time for it to shed some height,There was a post last friday on this thread showing that GU had completed a bearish harmonic pattern, but then it was still subject to market forces, other majors dropped (from Friday) but it is just coming into its own.

Gu thou shall not forget 1.63xx news or no news, am looking towards 1.6205

Waiting for today's close to analyze the market well, no clear trends on my horizon just yet, where's frenchman2, sniping things are in the works I believe

Toks2008: The Euro swing configuration still suggests a bearish correction as seen on the 4hr chart.

Nevertheless, we just may see a further intraday bullish retest of res 13096/13120 before the bears resume dominance.
Traders are however advised to buy short to 13096 capturing fast 20pips as euro presently hovers around 13076 with a sl at 13046. Then wait to sell back.

If you also still selling euro then you may consider hedging your position for a quick 20pips but still keeping the bearish perspective until res 13130 is breached.

in a nut shell, i will simply advice euro traders to stand by selling back should euro make a retest of res 13096/13120 because we may see a smooth glide down on euro if res 13130 remains formidable. Trade with care

Happy pipping

We should getting set to buy euro back at a test of supp 13000.

How do we kw a genuine retracement or breakout?

Toks2008:

We should getting set to buy euro back at a test of supp 13000.

lari03: Waiting for today's close to analyze the market well, no clear trends on my horizon just yet, where's frenchman2, sniping things are in the works I believe

very much around sir. pulled the trigger on gbp/chf.
i attached chart with the alert on page 12.

sam ogo: How do we kw a genuine retracement or breakout?

By being patient and analyzing tomorrow's daily chart.If 1.2970 is seen tomorrow all things being equal it's bearishness trend confirmed.Target 300 pips!

Eur/jpy UP

nawa oh season 10 pg 13 is been a while oh ....my fellow comrades how is it going wen r we selling buying is dragging oh

XA:AB; AB : BC; BC:CD XA : CD
1 :0.5 1: 0.618 1: 1.618 1 :0.786
Developing GBPJPY sell from the charts, the pattern is between a bearish gartley or bat formation with the ratios given above, any comments. the pattern has been completed and I just wanted to bring this to the forum for more scrutiny.

Gu wonder n we r watching

came back to see , red candles everywhere, wow missed a lot of trades today, hmmm, any way will always have trades another day, Missed my 2nd ATM for today after the 5 o clock breakout
EU and GU, no worry nah, you will still pay another day

USDCHF wow, about 100 pips gone, hope you guys caught the pips

The reverse of what happened in May 2012 is about setting-in, if the market for EU holds at 1.2950 I'll be buying around that point. Just watch for bearish fake out

Toks2008:

We should getting set to buy euro back at a test of supp 13000.

Hmm..toks2008

What combination of indicators do you use?

how far mdsocks hows it going? fellow traders i greet you all oh quite sometime been off 4 a
seems sell is warming up after waiting for days hmn

fellow trades the major trend for GU and EU is sell, there might b a buy between but sell position is advised.

nelsonmo: fellow trades the major trend for GU and EU is sell, there might b a buy between but sell position is advised.

Thanks for your input.Let's keep our fingers crossed.

nelsonmo: fellow trades the major trend for GU and EU is sell, there might b a buy between but sell position is advised.

seeing same here

rozayx5:
seeing same here

Look @ ur 4hrs pls i wull rather retreat or buy eu gu

just went short on eur/nzd
see chart below for details. first chart is 1hr and 2nd is 4hr.
take this trade and thank me later.
N.B Let's see how it plays out. Anything can happen.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.

good, also see dis

lari03: XA:AB; AB : BC; BC:CD XA : CD
1 :0.5 1: 0.618 1: 1.618 1 :0.786
Developing GBPJPY sell from the charts, the pattern is between a bearish gartley or bat formation with the ratios given above, any comments. the pattern has been completed and I just wanted to bring this to the forum for more scrutiny.

Nice one, bravo. Seen.


Optimisticgondy, capish replied.



Frawzey.

JAkpayen: Still remember this song especially for newbie:


https://www.youtube.com/watch?v=AsRx5UjQNCA

Oh my goodness! Exactly my kinda genre.

J, nice one brov.

bond777: i love this song. all trading without play makes bond a bad trader


https://www.youtube.com/watch?v=DFQ7QfCsNXw&feature=related

Nice one too brov.

Never knew we have such kinda guys here. Traders are known to be serious and aggressive but y'all proved me wrong.



Frawzey

sam ogo: How do we kw a genuine retracement or breakout?

I wrote something here about knowing genuine break out in the last season.

Toks2008: let me quickly drop a hint about break out confirmation.

If you are expecting a certain supp or res level to get broken, say we are waiting for res 12390 to get breached. You dont just buy immediately because price moves higher to maybe 12400.

You will wait for the close of that candle stick that breached that res to close. you may use the 30mins candle or the 1hr or 4hr for long term swings.

Then you can place a pending buy above that candle say 10/20pips above the high value(attach data window to your chart to view close/open/high/low values of candles).

so lets say the hourly candle breached 12390 and closed with high at 12401, a buy stop at 12411 will be ideal.
if the next candle triggeres that entry then you are 80% sure that that level has been breached and same goes for a supp level.

hope this helps.

mdsocks:

Hmm..toks2008

What combination of indicators do you use?

Toks2008: Understanding trend in relation to time frames.

Many traders have heard the slogan "the trend is your friend" But the problem many traders fail is understanding the trend.

Now we need to understand one secret in trend movement and this has to do with time frames.

Now if you look at a particular currency using different time frames, you get to se different trend pictures. The euro is presently making a bullish correction on the monthly chart, a confirmed retracement on the weekly chart.an established uptrend on the daily chart and a full blown uptrend on the 4hr chart.

One monthly candle gives rise to 20 daily candles and one daily candle gives rise to six 4 hr candles which makes up 24 candles on the 1hr chart. A retracement on the daily chart can give rise to a new trend on the 1hr chart.
Ths different trend picture normally gives trades serious task of really identifying the current trend.
But in order to trade the trend successfully, you must choose just one time frame to make your trend decision and you must use only one time frame to decide your entry and exit only using the nearest bigger and lower time frame to ascertain a clearer trend outlook.

Indicators for identifying trend directions are usually stochastic oscillator with a lagging settings of 100/10/10, you may use an heiken ashi candle sticks to sm00then the trend direction and zigzag indicator to identify clear sup/res levels.

These are the primary indicators you need then you need to understand how to apply them properly.
Happy pipping.

13086/13120 are good tp points if buying euro and we may be selling back from these res points.

Just sold the Dow, the pin from last week remains prominent and unlikely too be taken out, note the small bodies of the adjacent candles that follow. My SL is 10 pips above that pin bar and my exit will be around 13350.

ayox2003:

Oh my goodness! Exactly my kinda genre.

J, nice one brov.


Nice one too brov.

Never knew we have such kinda guys here. Traders are known to be serious and aggressive but y'all proved me wrong.



Frawzey

lol.........that is as far back as season 1 when I started forex, then I only concentrated on 1HR TF but things don change now. Your view on currencies and gold please?

greetings to u all

aguiyi ea has taken some stress off me, thanks to wise coder

were is unclenna, tonjoan and others.

pls note that the ea is free and its available on nairaland.


put it on 1minute chart, its calculation is taken from 15m tf, open another chart of the same pair and put piplocker on the chart second chart with ur desired settings.

am still waiting for coder to build in the piplocker into the ea so i cant stop opening a second chart.

try it on demo first o, then go live if u are satisfied

the best pair is NZ

pls note that the ea is free and its available on nairaland.


put it on 1minute chart, its calculation is taken from 15m tf, open another chart of the same pair and put piplocker on the chart second chart with ur desired settings.

am still waiting for coder to build in the piplocker into the ea so i cant stop opening a second chart.

try it on demo first o, then go live if u are satisfied

the best pair is Nzdusd

Hmmm.. Great minds

JAkpayen:

lol.........that is as far back as season 1 when I started forex, then I only concentrated on 1HR TF but things don change now. Your view on currencies and gold please?

If correlation is not dead, the $ should be on the way up. I sold gold at 1770.