Intraday FX Player
- Thread starter CFerret
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Looks like Euro has lost interest in going higher for now. Hourly trendline violated --
http://i30.tinypic.com/2iscmjn.gif
http://i30.tinypic.com/2iscmjn.gif
Heheh - You know what they say about brilliant minds thinking alike.
Yeah, I wish...
PS - That swoosh down has all the signs of a classic London fakeout. I keep staring at the daily chart and it keeps telling me we should see some up as previously noted in yesterday's post.
We'll see...
Yeah, I wish...
PS - That swoosh down has all the signs of a classic London fakeout. I keep staring at the daily chart and it keeps telling me we should see some up as previously noted in yesterday's post.
We'll see...
Quote from Turhovach:
Heheh - You know what they say about brilliant minds thinking alike.
Yeah, I wish...
PS - That swoosh down has all the signs of a classic London fakeout. I keep staring at the daily chart and it keeps telling me we should see some up as previously noted in yesterday's post.
We'll see...
Yeah, exactly!
As for bigger swings I doubt we'll see the real direction today... It's more likely to be defined tomorrow after BoE rates announcement...
Hi guys, I'm back and was taking a look at that last trend line and your analysis. This runs well wide of how I treat trend lines so I thot I'd give a quick lesson on Classic and EMTL's and what you have assumed because the way I learned Classic T/L's you have violated the rules.
Hope you don't mind me being blunt like this - if you find it of value use it and if not forget it... so here's my view.
Using the chart you have posted you don't have a validated T/L. It must have a reaction at the 3rd point to take the trade. If not it's low quality and risky to trade.
I added a channel line to the top (it isn't precise) abd if you had 2 points of contact on the top then the break of the lower T/L is valid.
The bottom channel would have been a big BUY for me because of points 1 & 2 on your parallel line and now we have a match from the lowest wicks WITH STOCHASTICS IN THE ZONE.
However, this is all based on what you posted. My T/L drawing is very different and I will post next to explain.
Hope you don't mind me being blunt like this - if you find it of value use it and if not forget it... so here's my view.
Using the chart you have posted you don't have a validated T/L. It must have a reaction at the 3rd point to take the trade. If not it's low quality and risky to trade.
I added a channel line to the top (it isn't precise) abd if you had 2 points of contact on the top then the break of the lower T/L is valid.
The bottom channel would have been a big BUY for me because of points 1 & 2 on your parallel line and now we have a match from the lowest wicks WITH STOCHASTICS IN THE ZONE.
However, this is all based on what you posted. My T/L drawing is very different and I will post next to explain.
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