natureboy
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some folks like mature. not necessarily my personal favorite. especially when speaking of trends. I need to keep stats on how many times following my instinct to take profits at higher profits would have been more advantageous than following this trailing exit.. Starting today.
natureboy
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Time is always in context of price.. whatever accuracy a good price model is, i would say a good time model is about 1/3 as accurate.. Low due to the times where it just doesn't work. However comma the current times are hitting fairly well. 940 looks to be a low for this move in EURUSD, bounce up to 1130, then continue down as far as it looks to me. I'll check on it later in the day..
I'm getting out of the short at 1.2939.. go home and take some herbs. i feel like a bucket of snot with shoes..still several fathoms from turning into a zombie, still want to play it safe though..
I'm getting out of the short at 1.2939.. go home and take some herbs. i feel like a bucket of snot with shoes..still several fathoms from turning into a zombie, still want to play it safe though..
natureboy
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Morning All.
Listen, i know there are some bright minds on here. These objective patterns exist. That much is clear. These are plotted by a program, not drawn by me. So - why not come up with an analytical framework, sort of like the Wave Principle (just easily verified and probably simpler), for using these patterns. I already have a way that i use. I would be interested in hearing other people's thoughts.
You can see with the 4hr EURUSD pattern that we've been looking for a low from late september - the EURUSD finally put in a low and moved up. Its a great example in that almost everything that can go wrong did 1) first, higher sensitivity setting failed 2) almost complete retracement of initial up move from pattern... however, it ultimately has been working out, with the EURUSD averaging higher. Much of the time the logic i used in this thread works with these Swing Patterns - test it out (if you are interested in using this approach)
Listen, i know there are some bright minds on here. These objective patterns exist. That much is clear. These are plotted by a program, not drawn by me. So - why not come up with an analytical framework, sort of like the Wave Principle (just easily verified and probably simpler), for using these patterns. I already have a way that i use. I would be interested in hearing other people's thoughts.
You can see with the 4hr EURUSD pattern that we've been looking for a low from late september - the EURUSD finally put in a low and moved up. Its a great example in that almost everything that can go wrong did 1) first, higher sensitivity setting failed 2) almost complete retracement of initial up move from pattern... however, it ultimately has been working out, with the EURUSD averaging higher. Much of the time the logic i used in this thread works with these Swing Patterns - test it out (if you are interested in using this approach)
natureboy
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I caught the last two days swings in EURUSD, great trades. Missed Asia last night, 80 pip swing. Leaves the possibility open to both ways (up/down) as to what is going on today.
My friend is targeting 1.34 -- That would be great. he uses an uncorrelated method. The 4hr pattern A-D range has a 1.618 external retracement level right near there, and its a psy level..and that was an important swing high on the monthly. I'm currently building a long position to ride up there, so not daytrading this one. I'll be looking for some day trades in some other markets later on today, this week, early next week.. Possibly even step out to Crude Oil or Gold.
My friend is targeting 1.34 -- That would be great. he uses an uncorrelated method. The 4hr pattern A-D range has a 1.618 external retracement level right near there, and its a psy level..and that was an important swing high on the monthly. I'm currently building a long position to ride up there, so not daytrading this one. I'll be looking for some day trades in some other markets later on today, this week, early next week.. Possibly even step out to Crude Oil or Gold.
natureboy
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Another indicator I find interesting and useful is the DailyFX Sentiment - supposedly a measure of retail traders at FXCM long and short positions. It does appear very helpful for contrarian trading - since the move up in EURUSD from 10/11, retail traders have been net short, implying more upside. That still holds, so more upside likely.. once they start moving net long, the top will be near. haha, love it
**and why the hell aren't the retail traders looking at this sentiment reading? are there really that many of them that don't look at a public stat from their own broker??!?
**and why the hell aren't the retail traders looking at this sentiment reading? are there really that many of them that don't look at a public stat from their own broker??!?
natureboy
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