Intraday FX Player
- Thread starter CFerret
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Tom, great to see you are enjoying T/L discoveries but very few have tried or understand what you are doing. I "think" I know what you are doing but only because I have used something similar but with different lines and also many more.
I called these charts dirty charts because they were a mess and also the intersections formed a blot or dirty spot that is the key time and price point. It might be better if you just showed the intersections that are your key levels and then post the TL's when someone asks how it's done.
This would get more attention because in a fast market your charts are much too busy for most to entertain and so many TL's confuse those who don't know where to look.
Let's see how good your key levels are by hiding the TL's if your s/w allows you to do that. TL's are not well understood and you have jumped ahead in experimenting. However I can't verify what you are doing because I use different lines, but if you just give us the key points in time and price we can put it to the test
Well,that shows it....I dont want to get carried away now with more trendline postings, since this is CF's journal about Intraday trading in the 1 minute chart. but ,I like what drawing trendlines is showing me ,to see the big picture.
Today was a hard day to pin down,even though I was expecting this big plunge down into the 153 area.... it was a long time in coming.
I think the trending now is a sideways building up to a big B/O on friday.
a bit choppy between 153 and 155 between now and then and a blast off around 154.50 area...up or down I dont know yet. My better guess would be Down.
Euro Has to get back up past 155 to have a chance to build up the upward energy again.
the last big effort stopped at 156. and it wasnt good enough.
The energy of this time is a reaction to the whole past 2 months + ...where the Euro went sky high , and pretty fast .... and now its been a correspondingly hard fall down.... In terms of the BBMC...(big bank money controllers)....I would wonder that the final resting place for Euro/usd....will be somewhere that they Want it to be....wherever that might be.... they didnt want it at 160. Do they want it at 150? 152? or back up to 155 ?
If nothing major explosive happens with the Euro/usd on friday,the 9th or sunday the 11th.... the extensive trendline drawing seemed to suggest to me that PA could sputter along sideways within the 154-155 range...into and through next week, and then do something major on friday the 16th,,like down to 150 or up to 157, (158 ?)..... Its like the whole game is being reevaluated by the BBMC ...as to where they want the currencies to be..... and feels undecided right now.So maybe they'll 'feel out' the 154,155 area for a little while....
like the way it stayed around 159 a while, and last fall between 144-148 for a long while.....
and in this sense,as I ponder more..... I sense that when the 'money controllers' dont intervene..... the euro rose up on its own against the faltering US economy....and showed no sign of coming down.... I sense that the 'money controllers ..watched this process intentionally letting it ride to see how far up it would go, and then they decided that 1.60 was far enough and didnt want it any higher....thats when it started coming down. I mark the critical point at april 18 , the long tail down. its a key power point now in trendline drawing. acts like a hub where many lines converge.
MY idea, (just theorizing)...is that when the money controller want to move the currency , they can affect change...they can stop a rushing upward, and halt a crashing downward......and its possible they are wanting to put the brakes on now so Euro doesnt crash to 147.
In theory, if this is what they achieved today ....I would suspect that they now want to let it ride again upward to see how far it can go.... and keep it safe below 158, and above 153.
the trendlines in my view, would be suggesting a complete plunge from 160 to 150 and maybe 147 and a return to the wave action of last fall (144-148)........and a buck fifty as a currency has a nice ring to it...
....so my gut feeling is that they worked the euro down from 160....but now they might try to push it back up to the 156-57 area...so that it doesnt crash below 152.
I cant say if any of this has any validity or meaning.... its part TA and part gut feeling from 10 hours a day of trendline analysis
So far, my analysis has been right on,since I started doing this.
Today was a hard day to pin down,even though I was expecting this big plunge down into the 153 area.... it was a long time in coming.
I think the trending now is a sideways building up to a big B/O on friday.
a bit choppy between 153 and 155 between now and then and a blast off around 154.50 area...up or down I dont know yet. My better guess would be Down.
Euro Has to get back up past 155 to have a chance to build up the upward energy again.
the last big effort stopped at 156. and it wasnt good enough.
The energy of this time is a reaction to the whole past 2 months + ...where the Euro went sky high , and pretty fast .... and now its been a correspondingly hard fall down.... In terms of the BBMC...(big bank money controllers)....I would wonder that the final resting place for Euro/usd....will be somewhere that they Want it to be....wherever that might be.... they didnt want it at 160. Do they want it at 150? 152? or back up to 155 ?
If nothing major explosive happens with the Euro/usd on friday,the 9th or sunday the 11th.... the extensive trendline drawing seemed to suggest to me that PA could sputter along sideways within the 154-155 range...into and through next week, and then do something major on friday the 16th,,like down to 150 or up to 157, (158 ?)..... Its like the whole game is being reevaluated by the BBMC ...as to where they want the currencies to be..... and feels undecided right now.So maybe they'll 'feel out' the 154,155 area for a little while....
like the way it stayed around 159 a while, and last fall between 144-148 for a long while.....
and in this sense,as I ponder more..... I sense that when the 'money controllers' dont intervene..... the euro rose up on its own against the faltering US economy....and showed no sign of coming down.... I sense that the 'money controllers ..watched this process intentionally letting it ride to see how far up it would go, and then they decided that 1.60 was far enough and didnt want it any higher....thats when it started coming down. I mark the critical point at april 18 , the long tail down. its a key power point now in trendline drawing. acts like a hub where many lines converge.
MY idea, (just theorizing)...is that when the money controller want to move the currency , they can affect change...they can stop a rushing upward, and halt a crashing downward......and its possible they are wanting to put the brakes on now so Euro doesnt crash to 147.
In theory, if this is what they achieved today ....I would suspect that they now want to let it ride again upward to see how far it can go.... and keep it safe below 158, and above 153.
the trendlines in my view, would be suggesting a complete plunge from 160 to 150 and maybe 147 and a return to the wave action of last fall (144-148)........and a buck fifty as a currency has a nice ring to it...
....so my gut feeling is that they worked the euro down from 160....but now they might try to push it back up to the 156-57 area...so that it doesnt crash below 152.
I cant say if any of this has any validity or meaning.... its part TA and part gut feeling from 10 hours a day of trendline analysis
So far, my analysis has been right on,since I started doing this.
OOps, sorry for that long post....I wrote it before I got Yoohoo's comments..... yes,Thanks Y for your feedback. I understand what youre saying....I am learning at a fast pace,spending 10 hours a day doing it....I'll try to do what you suggested...and see what that looks like.
and of course, I would look forward to any advise and commentary you might have about drawing trendlines.... how you do it, what you look for, etc.... so far ,I'm just discovering things that my mind's eye sees.
When you say to indicate just the 'key levels and times'....would that essentially be to post a chart with only a 'x-marks the spot'....and a time line to pinpoint it? something like that??
to see how close I come to the target moment?
In my messy chart from the other day...I did indicate euro would likely drop at 1.5537 and down to 154.....
I'll see if I can make a simple chart next time....thanks
and of course, I would look forward to any advise and commentary you might have about drawing trendlines.... how you do it, what you look for, etc.... so far ,I'm just discovering things that my mind's eye sees.
When you say to indicate just the 'key levels and times'....would that essentially be to post a chart with only a 'x-marks the spot'....and a time line to pinpoint it? something like that??
to see how close I come to the target moment?
In my messy chart from the other day...I did indicate euro would likely drop at 1.5537 and down to 154.....
I'll see if I can make a simple chart next time....thanks
Yes, "X" as a Time & Price target would be sufficient and if you have a dominant T/L then post that as well. If you are getting the Key Levels correct then you will get a lot of "Why" questions and you can explain the how-to then.
As for what i do, the last thing you need at this point is more TL's heehee. Anyway 10 hrs a day is a bit short and I'd swamp you with ideas at too early a stage. Continue to develop what you have and let's see what gold you can dig out of it.
The TL's I use do not start from PA but from fixed points in Time & Space well away from PA. All reversal points are mathematically related and there are many ways to discover and profit from these relationships but that's well ahead of us now... better to stick with where we are at for now.
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