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  • #9,921
  • Jun 12, 2014 3:31am Jun 12, 2014 3:31am
I can see price moving south to 1135-1150 by mid of July
  • #9,922
  • Jun 12, 2014 3:45am Jun 12, 2014 3:45am
Quoting msh310
I can see price moving south to 1135-1150 by mid of July
abracadabra.....
Without an explanation...this has no sense...

I see a good short @ 1263 . H&S is beeing formed very well...
If you do not know who you are, the Forex is the worst place to find you
  • #9,923
  • Jun 12, 2014 3:48am Jun 12, 2014 3:48am
Quoting skassacomput
{quote} abracadabra..... Without an explanation...this has no sense...

Yeah you are right my friend, i am trying to upload a clear chart on which i made the call.

and After all, thats only my opinion.

  • #9,924
  • Jun 12, 2014 3:52am Jun 12, 2014 3:52am
Quoting msh310
{quote} Yeah you are right my friend, i am trying to upload a clear chart on which i made the call. and After all, thats only my opinion.
If you do not know who you are, the Forex is the worst place to find you
  • #9,925
  • Jun 12, 2014 4:08am Jun 12, 2014 4:08am
Quoting skassacomput
{quote} abracadabra..... Without an explanation...this has no sense... I see a good short @ 1263 . H&S is beeing formed very well...
Hi,

May I ask where you see the head and shoulders forming? I do not see it but I'm still sleepy.

Best regards,

Frietzak
  • #9,926
  • Jun 12, 2014 4:09am Jun 12, 2014 4:09am
Quoting skassacomput
{quote} abracadabra..... Without an explanation...this has no sense... I see a good short @ 1263 . H&S is beeing formed very well...
ok now, here is my explanation

I can see formation of ABCD pattern. which remain valid until the price stays below 1297-1300
we have a lot of resistance and support here but IMO shorting @ 1260-1264 is a fair idea and I will be adding shorts on strength.

AND for further confirmation a break below 1238-1240 is required.

AS being a novice learner, any comments on this would be highly appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: possible ABCD pattern.png Size: 282 KB
  • #9,927
  • Jun 12, 2014 4:15am Jun 12, 2014 4:15am
Quoting frietzak
{quote} Hi, May I ask where you see the head and shoulders forming? I do not see it but I'm still sleepy. Best regards, Frietzak
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB
If you do not know who you are, the Forex is the worst place to find you
  • #9,928
  • Jun 12, 2014 4:28am Jun 12, 2014 4:28am
Quoting skassacomput
{quote} {image}
Thanks mate, much appreciated. Neckline @ 1259 to 1261 with a TP range to 1251?

Best regards,

Frietzak
  • #9,929
  • Jun 12, 2014 4:38am Jun 12, 2014 4:38am
Good Evening All , could I please ask contributors to Label their charts with time frame ... eg 1hr 4 hr somewhere clearly on charts posted , sometimes the timeframe is unclear ... just a thought .... cheers Q
Whats That? you're trading What?
  • #9,930
  • Jun 12, 2014 4:40am Jun 12, 2014 4:40am
Hi CT,

when do plan to start your only OIL thread? no news about that. Anyways for those who wants to quick bucks just buy WTI oil with high vol.
\\You gonna be rich , Iraq violence will make oil price skyrocket high expect 112+.
  • #9,931
  • Jun 12, 2014 4:44am Jun 12, 2014 4:44am
Attached Image (click to enlarge)
Click to Enlarge Name: timeframe.jpg Size: 68 KB


OIL would be good too CT (currently long )
Whats That? you're trading What?
  • #9,932
  • Jun 12, 2014 5:19am Jun 12, 2014 5:19am
accumulating gold etf, especially GDXJ to play longer term upswing, no stops. I think gold is carving bottom.

CT what is your longer term view ?
Attached Image (click to enlarge)
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  • #9,933
  • Jun 12, 2014 5:43am Jun 12, 2014 5:43am
Heading to 1276 .
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-d1-pepperstone-financial-pty.png Size: 99 KB
  • #9,934
  • Jun 12, 2014 5:50am Jun 12, 2014 5:50am
Quoting rythmrig
Heading to 1276 . {image}
So why is that? Day is long from over, let`s first wait for the news. It looks to me more like pump and dump to get all weak shorters out. If it closes like this I would agree with you.
  • #9,935
  • Jun 12, 2014 5:50am Jun 12, 2014 5:50am
I dont think its head & shoulders for the following reasons :-

1- head & shoulders is reversal bearish pattern therefor we must see an uptrend b4 the pattern to be reversed , however it could be sign of weakness if it couldnt make higher high after the head but there is no sign of reversa after the head and the right shoulder as u assume is not confirmed as a peak yet.

2- if u consider the long green candld as an up trend , then its still not head $ shoulders as the size of the pattern shouldnt be bigger than the up trend as it should distribute the bullish power , and the distribution phase cant be bigger than the bullish power.

3 - the head and shoulders is only confirmed by the break of neck line and it didnt reach the neck yet , however if it has all the conditions of head and shoulders ( comes after uptrend with suitable size to trend and confirmed the right shoulder as a peak) without breaking the neck is called potaintal head and shoulders and only confirmed after breaking the neck.

That was my point of view which might be right or wrong ....


Quoting skassacomput
{quote} {image}
  • #9,936
  • Jun 12, 2014 6:11am Jun 12, 2014 6:11am
My call is based on technical s , the recent bottom 1240 .xx was a 161 fib extension from the high of around 1215 and the low 1268. Fib the high of 1392 and to 1240 and you have 23.6 fib at 1276 .
  • #9,937
  • Jun 12, 2014 6:35am Jun 12, 2014 6:35am
Quoting TudorJonesJR
{quote} So why is that? Day is long from over, let`s first wait for the news. It looks to me more like pump and dump to get all weak shorters out. If it closes like this I would agree with you.
Could there be a fair amount of short covering as well?
"The market can remain irrational longer than you can remain solvent"
  • #9,938
  • Jun 12, 2014 6:50am Jun 12, 2014 6:50am
Quoting anton.olff
{quote} Could there be a fair amount of short covering as well?
  • #9,939
  • Jun 12, 2014 6:52am Jun 12, 2014 6:52am
Quoting anton.olff
{quote} Could there be a fair amount of short covering as well?
Yes that is what I indirectly meant
  • #9,940
  • Jun 12, 2014 6:54am Jun 12, 2014 6:54am
Quoting raianil007
Hi CT, when do plan to start your only OIL thread? no news about that. Anyways for those who wants to quick bucks just buy WTI oil with high vol. \\You gonna be rich , Iraq violence will make oil price skyrocket high expect 112+.
http://www.forexfactory.com/showthre...=487323&page=9

My view was long, long and long with support @ 101 and 102, its way above that now.
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