Eurusd/gbpusd - page 508
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Seems to me that the EURGBP is right at the balancing point. The point that will determine the price direction for the next week or so.
I see the equilbrium point at 8927 but (in my opinion) the price has to take this level out convincingly in order to ensure that the price remains beneath it. I'd be inclined to suggest that if the price can close (at the end of the day) beneath that level then there is a high probability that the price will continue to 8895. It actually looks as though there are 100s of pips on offer here as long as the stop-loss is above 8956 then the price could quite easily continue down to 8747 over the next week or so. So even if the price doesn't close below 8927 then short entries around 8950 still offer attractive returns vs risk.
Yen: buyers avariciously consumed the substantial supply that was on offer at 89.76. That level was completely rejected as an area of fair value and that level was seen as the short-term equilbrium by market participants. The market structure suggest only one direction for the Yen with hints of an easy/calm trend upto 93.26 followed by a rapid break-out to 94.80. Demand should start to die off at this level but the momentum could carry the price as high as 96 at which point numerous divergences will be present warning of imminent market reversal.
Wait and see!A perfect USDJPY forecast and the EURGBP forecast was okay.
Morning traders & wannabes,
It very quiet on this board at the moment. My focus is on model and equity building so I've been away for a while.
I have a couple of shorts in the GU & EU which are knee deep in money. The EU I'll close soon but I'll let the GU ride the uncertainty associated with the Volcano etc.
Happy trading.
Morning traders & wannabes,
It very quiet on this board at the moment. My focus is on model and equity building so I've been away for a while.
I have a couple of shorts in the GU & EU which are knee deep in money. The EU I'll close soon but I'll let the GU ride the uncertainty associated with the Volcano etc.
Happy trading.m8! good morning , waitting gu close the gap
m8! good morning , waitting gu close the gap
eu target 3376
m8! good morning , waitting gu close the gap
look away ,may move to 5181-5161
m8! good morning , waitting gu close the gap
I guess you must have got the 'close the gap' tip from Forex Factory. That lot can't tell the difference between a close the gap move and a break lower with conviction move.
I guess you must have got the 'close the gap' tip from Forex Factory. That lot can't tell the difference between a close the gap move and a break lower with conviction move.
no. but most of the gaps close on the same week. and nice to see you back m8
hi guys, we made exactly 500 pips this week. Everything proved: Join us for free twitter.com/SURFINGTHEPIPS
250+ pips profit today that I would have missed without the RPM Indicator
250+ pips profit today that I would have missed without the RPM Indicator
It's mentally tough to buy/sell a breakout, but if you know that there are a ton of buy or sell orders placed there previously, you know that their stops lie right beyond the high/low.
With this information you can predict the breakout and feel confident entering.
It also shows you how to be a TRUE CONTRARIAN. To be a contrarian you must go against the HERD not the TREND. The RPM shows you where the herd is.
People say there is no such thing as stop hunting! Ha! If you were a bank/broker and knew where other peoples orders were (especially stops), tell me you wouldn't use that info!
It's like playing chess and they can see your moves, but you can't see theirs.
I say it's time we open the whole damn board!
Why do you think 90% of traders lose their ass after 6 months! Trust me these guys are not smarter then you or I. They can see the whole board and we are left guessing.
NOT ANYMORE!
Use the RPM people!!! See what they SEE!
The following is a long-term Market Profile analysis I did whixh was posted in May on FF. The long-term view still holds.
EURUSD - Page 6598 @ Forex Factory
May 21, 2009 7:31pm
notch
The market really doesn't like these levels. Historically, it has spent a very short amount of time here. Historically, both both parties have agreed that these levels do not represent value but since the auction process caused an upward distribution from the following levels 1.35503 to 1.36013 on numerous occassions we favour demand being cut once price has been bid up to 1.46209.
Once 1.46209 has been achieved it is likely that there will be period of consolidation between 1.36905 - 1.46209. However, the auction process is likely to continue in the upward direction ultimately seeking market symmetry at 1.54876. The move from 1.46209 to 1.54876 is likely to be very rapid after which a fall back to 1.46847 is expected. There then should be a push to 1.56661 at which point excess supply is likely to enter the market.
LONG TERM the auction process rejects the levels between 1.36905-1.56661 and seeks balance between 1.20590 - 1.27728.
I can't give you time & price without digging into by Fibbonnaci time lines.It's almost exactly 12 months since I first posted the above on FF. I guess: ...seeks balance between 1.20590 - 1.27728 no longer seems so foolish to the so-called Guru's...