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shellsnail replied Feb 6, 2014Price went down, so I suppose the next time price hits the open price of this candle, there'll be sellers coming to join the bandwagon. It was a good time to sell then, it must be a good time to sell now!
The magical mystery tour of the divine markets
- shellsnail commented Feb 6, 2014
The real support for EU is at 1.323. There's a good chance price will test that eventually and then it gets interesting because a bounce from there could take EU to new highs.
Webcast of the ECB press conference 6 February 2014
- shellsnail replied Feb 6, 2014
GJ looking like strong potential to make new highs on daily chart and weekly chart. Possibly a double top before turning like the rest of the JPY pairs.
Sonic R. System
- shellsnail replied Feb 6, 2014
Yes noted. Which is why the context (daily trend and OB/OS) matters a lot; the MM are also following trends because these trends originate from commercial and central bank activity. There was this interview I saw somewhere where the Forex dealer was ...
Sonic R. System
- shellsnail replied Feb 6, 2014
Ok, I have deleted my post and I hope we can have a discussion about Sonic R methods and trades harmoniously. Cheers. I do have some opinions on PVRSA, and I see a lot of potential in it. Currently I am exploring its significance in longer ...
Sonic R. System
- shellsnail replied Feb 6, 2014
Ok my apologies if it did, had no intention of belittling, was really more of comedic effect.
Sonic R. System
- shellsnail replied Feb 6, 2014
ahah, isn't this the problem with such frivolous chart reading. You can always find clues to support your case, but without any proper testing you can never be sure they are an edge. Maybe the real edge in this trading here is simply spreading your ...
Sonic R. System
- shellsnail replied Feb 6, 2014
Here's the other view on UCAD. image Monthly Breakout MM are loading up shorts on CAD (and EUR). Edit: Bar has turned red, confirmed to start loading buys after bar closes. cheers.
Sonic R. System
- shellsnail replied Feb 6, 2014
AU and EU are playing out as expected so far, GU remains to be seen. UJ has a stronger downtrend than I thought.
The 10XROI System - A High "R" Factor Approach
- shellsnail commented Feb 4, 2014
Maybe, or maybe it has already went up 204 pips without any retrace and it's time for a 38.2% retrace, after all it's testing the daily trendline and some daily resistance here (previous support) If you look bigger picture (weekly chart), I still ...
New Zealand Household Labour Force Survey - Labour market strengthens
- shellsnail commented Feb 4, 2014
The accelerated downtrend line BROKE and the intermediate one broke too with ONE daily bar. next major resistance is the weekly/long term trendline followed by 0.9366.
RBA Statement on Monetary Policy
- shellsnail replied Feb 4, 2014
Also I am curious, while each scenario is different, no doubt there must be some heuristic/ pattern recognition that you guys do when entering trades using PVRSA. If you sit down and quantify this, come up with a checklist of sorts/filter to cut ...
Sonic R. System
- shellsnail replied Feb 4, 2014
Also I think time of entry matters a lot. Most (about 2/3) of the major/intermediate turning points in the market cluster around 12noon - 4:45pm GMT+ 0 (Late London/ Early NY Overlap). The rest are mostly around 7-9am... Any time outside of those ...
Sonic R. System
- shellsnail replied Feb 4, 2014
hmm TAH, do you have any stats regarding this. What is your minimum drawdown for your initial positions, and what is your max. What is the mean and variance? Is there a way you can better optimise your entry points. Say after you see the first ...
Sonic R. System
- shellsnail commented Feb 4, 2014
The momentum was expected given what we are seeing on the charts. The 'bearish' pinbar on the D1 was really just to fake traders into selling. The news was merely the catalyst/ confirmation for market makers to start pushing the price up. They have ...
RBA Statement on Monetary Policy
- shellsnail replied Feb 3, 2014
No. You did not just share the holy grail with everyone, now how do I make my pips.
The magical mystery tour of the divine markets