Aldo Colombo
Corporal
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- 107
As of this writing, 4hour B&B failed misserably, is there something like "B&B failure" that can be traded?
FOREX PRO Weekly March 05 - 09, 2012
- Thread starter Sive Morten
- Start date
IMHO, I wouldn't enter any position right now until it hits fib support at 1.3095 for LONG or enter SHORT again when retracement completes. I'm seeing retracement can happen anytime now and 1.3095 would be interesting to watch
Just my 2 cents worth, open for discussion
nicolebobbin
Private
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- 76
With regard to the most recent dive down, if we use 0.382 to enter short then we will miss the trade, it should be 0.236
Triantus Shango
Sergeant Major
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- 1,371
well cheater, you might be onto something. 3092 is the WP S1. on H1, 3162 would be the TP? 38.2% of this last move down. however, without a clear reversal pattern, it's a gamble. market could very well just go into range mode and slowly drift back up towards 3150/62 over the next 5 hours. at your own risk and peril.
and by god, if price drops another 100 pips to 3000/1x, i'll become a transvestite!
and by god, if price drops another 100 pips to 3000/1x, i'll become a transvestite!
Triantus Shango
Sergeant Major
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on what TF? daily? H4?
i guess it must be daily as that's what sive mentioned. well, had you entered short at the 23.6% node, you would have gotten a worse price than if you had shorted from higher up. so honestly, i don't see how we would miss the trade if we use 38.2% as an entry point. also, let's not forget that more often than not, 23.6% is not used as often as 38.2% by market participants. well, at least, that's what dinapoli says in his book.
i guess it must be daily as that's what sive mentioned. well, had you entered short at the 23.6% node, you would have gotten a worse price than if you had shorted from higher up. so honestly, i don't see how we would miss the trade if we use 38.2% as an entry point. also, let's not forget that more often than not, 23.6% is not used as often as 38.2% by market participants. well, at least, that's what dinapoli says in his book.
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well cheater, you might be onto something. 3092 is the WP S1. on H1, 3162 would be the TP? 38.2% of this last move down. however, without a clear reversal pattern, it's a gamble. market could very well just go into range mode and slowly drift back up towards 3150/62 over the next 5 hours. at your own risk and peril.
and by god, if price drops another 100 pips to 3000/1x, i'll become a transvestite!
yeah i'm waiting to enter at 3090 just to be sure but the reversal is not clear yet although i'm seeing H1 and Stoch bullish. I do not know if there is going to be much action in next 5 hours especially we are coming to week close and US market usually goes quiet after noon time.
What do you think of the 1.618 FIB support at 1.29748? Reachable in next 2 days without a decent retracement?
Anyone knows where can i get the pivot point indicator that are displayed on the top left and right corners as what Mr Sive is using? I been searching for quite a bit but can't seem to find it. I'm using MT5 by the way, not MT4. Any help is appreciated. Thanks
Triantus Shango
Sergeant Major
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my answer is a resounding 'yes!' check this out, from forexlive.com:
'Mr. Market seems to be in little hurry to cover shorts suggesting that the selling we’re seeing today is not speculative but “motivated”.'
source: EUR/USD tickles week’s low before rebounding | ForexLive
now, jamie coleman has been working in the industry for decades. so i would think he knows what he is talking about. besides, those guys over at forexlive.com have contacts at various banks with dealers and they often get the inside scoop. so if he is to be believed, i'd definitely expect reaching 29748. i would go even further, and say that after the nice bearish engulfment we got today on daily, further confirming the bear trend, market should hit the 61.8 node at 2950/54 of the move from 2625 to 3485. that's only 160 pips away (rate now = 3110). and today market dropped 160+ pips. so it's feasible in one day.
check this out, from forexlive.com:'Mr. Market seems to be in little hurry to cover shorts suggesting that the selling we’re seeing today is not speculative but “motivated”.'
source: EUR/USD tickles week’s low before rebounding | ForexLive
now, jamie coleman has been working in the industry for decades. so i would think he knows what he is talking about. besides, those guys over at forexlive.com have contacts at various banks with dealers and they often get the inside scoop. so if he is to be believed, i'd definitely expect reaching 29748. i would go even further, and say that after the nice bearish engulfment we got today on daily, further confirming the bear trend, market should hit the 61.8 node at 2950/54 of the move from 2625 to 3485. that's only 160 pips away (rate now = 3110). and today market dropped 160+ pips. so it's feasible in one day.
Triantus Shango
Sergeant Major
- Messages
- 1,371
was looking for it but can't find it. the 2 i am using are crap. 1 is from IBFX and doesn't redraw or compute the pivots properly. the other one, 'ZMFX all pivot levels' is even more fantasist.
however you can find pivots info in real time here: EUR/USD Pivot Points - Forex Analysis, Currency Forecast, FX Trading Signal - Action Forex
and sive, if you could please tell us the filename of the indicator you are using to display pivot info, that would be very much appreciated.
however you can find pivots info in real time here: EUR/USD Pivot Points - Forex Analysis, Currency Forecast, FX Trading Signal - Action Forex
and sive, if you could please tell us the filename of the indicator you are using to display pivot info, that would be very much appreciated.
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