G-unit pimpin on forex

[ecology10]

Originally Posted by mosad2

@ ecology
what about this chart?
specially when eur/usd is still bearish in daily
I think asian session will have the word to solve this

Hi mosad2,
In your second chart I see the RSI and Stoch falling, but with the 3 MA, your the most slowest MA is still below the price movements, I would wait before terming the Daily senario bearish, now you could be right, BUT In my opinion It is always good to wait for a close below the slowest moving avg. on one's chart. Well it can all differ for all traders, as one has to know how conservative or aggressive one ought to be (reflecting in fast or slow MA's).

I see Marketwavez charts, and I agree to a certain extent, I have followed Fxsurfers forum, I certainly have respect for the thread and its posters, however In my opinion the chart posted below should give you an idea of what I think of the market and my 4h and 1d charts are posted below.

Now in the 4hr chart you will see two channels, the red one and the black one. Earlier I had posted the same, however I did not include the red channel. I believe if the black channel holds as well as the red I for sure buy. As one has to see there is no ONE RIGHT WAY OF CHARTIN (TA). People looking at different charts and hence different trendlines etc, However they do not wary much, however one has to understand how the market moves.

I could be wrong in drawing that channel but more importantly it tells me if I am wrong or right, in any case if you are a good trader both senarios should reap profits.

PS WE COULD SEE A SPIKE TO 1.2700, draw a parallel line from the spike from the bottom to 1.2700 and that should be your buffer for noise. However I am not taking any positions right now as I said before WILL WAIT FOR TOKYO ...

OHH and the this how my 1d chart look, keep in mind I do look at RSI and MACD and MA's, however I believe since those indicators cannot varry much from trader to trader hence I do not post it. However I do suggest following them before taking a position (IF POSSIBLE KEEP A LOG FOR FUTURE REFERENCES)..

Thank you

[mosad2]

for me here's what Im going to do
on 15 minutes chart, I will keep watching price closely
now it's pointing downward
if 1.2716 holds and it reversed from there, I will buy
if it broke it I will not sell, I will wait till reaching the low and buy from there

[ecology10]

Long EUR/USD @1.2723 s/l 1.2724 curreny +9.8 pips
t1 1.2780
t2 1.2800
t3 1.2890

[mosad2]

Originally Posted by mosad2

another possible scenario
is Eur/Usd may go up to touch 1.2740-50
then go back down to 1.2665-95 to end first wave of correction

Did this scenario started coming into the picture?
or not yet?

[ecology10]

Did this scenario started coming into the picture?
or not yet?

So, far the price has been in the 1.2740's and failing to breach 1.2750. I will wait for london to open, to give direction on the exchange pair.
So far 21.9 pip in profit (as of 9:53 PM CST), will put stop-loss just below 10pip profit for further weakness (IF THERE IS ONE)

[ecology10]

UN CEASE-FIRE in (NO WAR thankfully let’s see how long this weak agreement holds).
Adding to USD gains, and eur/usd testing 1.2740 area.
GBP gained; due to ease in recent activities like bomb threats and cease-fire in Lebanon

[mosad2]

market is in very tight range
no u.s data to move it today
standing aside till start of u.s session

[mosad2]

is it time to go short on usd/jpy??
current price 116.60_bid