Early warning buy signal 4/20 Euro

[gus]

fwiw - I have an early warning 'buy' signal on the daily euro.

 

[FetteredChinos]

i see.. any ideas on why this is the case??

TA?? Fundamentals?? Indicator divergance?

Scorpio rising?

 

[nefariousbaffler]

yeah really

 

[Wideboy]

Fool

 

[FetteredChinos]

i know. have you seen the charts???

if nothing else, £/$ is plummeting south at the moment, possibility to go another 500 pts at least. Surely that is going to pull down the EuroDollar too.


hang on, thats a thought. What Euro are you talking about??

EUR/$
EUR/£
EUR/CHF
EUR/YEN

EUR/rouble??


FC

 

[ZigZag]

GUS: I agree with your proposition. Its the BASIS of my method trading the EUR/$ intraday using both candlestick and line charts. May I suggest you look at the following. Add a 3 SMA to your 4MA plus a 50 EMA to your 20. I use the 3&4 for a short term trend change alert. If you check the charts it should be self explanatory. Dont be put off by some of the replies. Good luck & stick with it.

 

[FetteredChinos]

erm Zig? how do you know GUS is using a 4MA and a 20EMA ?

and what does intraday really have to do with a "daily euro" long?


im trying to be constructive, thats all

 

[Buk]

we all "see" different things/draw differing conclusions from our technical viewpoints. There is no right or wrong imo.....simply a scenario developing according to our personal signals at the precise time we're observing the charts! - some calls pan out, others don't......it's what makes a 'market' after all.....

 

[gus]

Sorry that's EURUSD that i was referencing. Two TA methods being used. One is Tom DeMark's sequential bar count, the other is just an old fashioned hand drawn chart. ZigZag I will look at that.

 

[ChowClown]

Slow Stoch (39,1,1) across most time frames is another useful 'trend change' indicator - signals are taken once it crosses through 50, I tend to use hrly charts and wait for a full candle to close above/below 50 before entering a trade. Initial stop set at previous swing high/low. Risk:Reward on €/$ averages around 1:2.5

I usually throw a 100EMA onto the chart, just to reference general trend.

Just my 2p worth and won't suit everyone.

 

[Dentalfloss]

chowclown.had a look,not bad.slow stoch 39.11.set %k at39,%d at 11.hourly is good for me due to work comittments.is this right,period % slow d is set at what?5 perhaps.pm me if i am wrong
thanks
007

 

[ChowClown]

39,1,1

007,

I use this chart and you can specify 39,1,1 (ie 3 inputs) to draw the single line Stoch from within the Studies menu.

http://www.dailyfx.com/FinanceChart.html

HTH

 

[ZigZag]

ChowClown. Interesting posts. Like you I use the Hourly Charts for signals(after determining the trend on the daily) I was using a slightly faster stoch with your other two configurations but at first glance yours is more reliable.(less whipsaws) THanks

 

[BBB]

What about sun spots and lunar activity?

 

[gus]

Ok, today 4/21 completed the second bar #13 (there are two ways to count) so that set up is complete. To read a bit about Tom DeMarks Sequential counting system this is a good place since it's written by him,lol http://www.futuresmag.com/library/daytrade97/day10.html

My own experience with it the last several years is that it often does mark a turn - not always of course!

The 1st part of my 'early warning' comes from a simple hand chart of the daily euro and is of course only a warning - sometimes it's a day ahead, sometimes 2-3 days, and of course sometimes it also doesn't work, that is why it takes a 'confirmation' - some here seemed to interpret my original post as a 'call' as though i was forcasting - not my intention. Only sharing a couple technical idea's with eveyone. gus

 

[darktone]

hello Gus.

If its any consolation theres lots to suggest through my eyes that we are near a swing low in E, not least the fact that we are homing in on the weekly trend

The herd is shouting ..... the herd is short.......and we all know what that means 9 times out of 10

GL
dt

 

[LittleWhiteBull]

hmmm....

Wideboy has gone quiet - doesn't want to make a 'fool' of himself maybe?