PA, S/R, ZL, EXTREMES & MOMO

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ajaymein
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Postby ajaymein » Tue Mar 08, 2011 4:24 pm

Out -5

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Humble
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Postby Humble » Wed Mar 09, 2011 2:44 am

In terms of Z/L, S&R and Extremes as used by es/pip, any suggestions on how I've drawn this chart? (I have 4hr lines on a 1hr chart)


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Is price closing higher or lower than something? Simple yet powerful question. ..MO

FXfreak
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Postby FXfreak » Wed Mar 09, 2011 7:17 am

cfabian and humble, these are my lines. for today i would like to see a move south before we go long. i would use the lines at 35/46 for a long-entry.

but pa will decide if also a short would be possible. i would look for an entry near 23/40/57.

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karol
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Postby karol » Wed Mar 09, 2011 8:14 am

long


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EDIT: before I finished writing this post, my -20 SL was hit. This is madness.

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Postby FXfreak » Wed Mar 09, 2011 8:16 am

long 82

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Postby FXfreak » Wed Mar 09, 2011 8:19 am

karol, your entry is in the middle of nowhere which makes it risky. you only can survive this if you have tight stops. look at es/pips postings: he always has stops between 1-5 pips.

-20 is a lot for this trade.

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Postby FXfreak » Wed Mar 09, 2011 8:21 am

my entry wasn't perfect too. next support is 60.

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rob_deniro
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Postby rob_deniro » Wed Mar 09, 2011 8:29 am

$ index is / was bouncing up

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Postby FXfreak » Wed Mar 09, 2011 8:31 am

rob_deniro wrote:$ index is / was bouncing up


what does it mean for eu?

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rob_deniro
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Postby rob_deniro » Wed Mar 09, 2011 8:51 am

$ was getting strong at that time so eu gets weaker... i'm still learning / practicing fx too, but looking at the $ index is helping me by looking not to trade against it... http://www.fxstreet.com/rates-charts/usdollar-index/

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