hmm...i wonder if historical data will be of importance in forex...or until the year Euro comes out is good enough...

eh..., download chartnexus n analyse together lar stock..huhuhuh

btw, need ur opinion in this ctr leh... i entered ramunia at 1.47 early this week...



entered bcoz its form ascendin triangle wit flat tops.. min TP 1.6X





dun really like weekly chart though.. show abit kaputin sign durin jun2007

from the weekly chart...taking low at Aug07 bout 0.75, and high at Feb08 bout 1.95...the Fibs would be 50%@1.35, 61.8%@1.49, 76.4%@1.67

there was quite some congestion on Jul07. You see the upmove on early 08, it pass through the congestion zone with no prob. now the price is recovering, with the earlier upmove on early 08, it shouldnt have much prob passing this congestion area again.

As for the recent congestion at Feb08, that is also around 1.67, is about the high during Jun07 and May06. So the critical retracement level is 76.4%. If the high on Feb08 is a new high, i will sell it on 1.60 le...may be crashing down once hitting 1.67...the price would bounce around the intermediate MA first, before going 1.60

see the price move on mid Jan08, after reaching 1.67, the upmove actually shows sign of weakness le...the further extension is mostly caused by momentum...can slightly confirm this by looking at oversold at RSI and the lower volume..if you can find is there's any previous high/low..then better..try draw Fib Fan on the low in Jul and high in Feb..

dunno la...i'm still an amature on tech analysis...lol

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Added on May 4, 2008, 6:29 pmoh no...lowyat...i just downloaded chartnexus...look at the attachment. Both Fibs are taken on same high/low. I believe it would be rather bearish soon..this is why:

1) Candlestick: shooting star followed by doji

2) Bearish Flag formation

3) Resistance at 61.8% fan line

4) Lowering on both RSI and Stochastic while prices moving up

I dont think the price could reach 1.60 at all, unless there're any good news



This post has been edited by small-jeff: May 4 2008, 06:42 PM

@small-jeff


Bearish Flag formation is wat?

thanks for d analysis...

btw, for d candlestick part,

my software analyse it 21-4-2008 as spinning tops, black -> reversal 51% of d time


i dunno much candlesticks n nowadays vry less use indicator...



if u see this 1, it was above 1.43 for 3bar, for me its good sign.. moreover, d reduction of volume traded reduce alot,it shows, smart money is not dumpin alot of shares. they r actually clearin people who still stuck at above..

my cut loss woulb b if it close below 1.43 for 1-2bar or close below d triangle.

hi there, how did you put the volume indicator inside the price window? can put others like stochastics and rsi inside price window also mah?

if u choose volume, it will automatically go to price window... n no,for charnexus other indicator cannot put in price window

eh my bad.i thought it was MT4.
chartnexus looks good. does it comes free? does it have all the forex major pairs?

This post has been edited by woopypooky: May 4 2008, 08:38 PM

MT4 got volume.. u can right click d price window n choose properties, then tick volume in price chart

no forex for chartnexus

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Added on May 4, 2008, 9:08 pm@ small jeff,
it seems ur fan does work in klse... mind share wit me wat book it contains much ab this topic ka... or u jus brief me how to make it work... thanks..

This post has been edited by low yat 82: May 4 2008, 09:08 PM

i'm using marketiva, my assistant is ForexKiller v2.0... i've made about USD$260 from equity USD5.00

good for u then goodluck in comin years

sound's too good to be true

pips2 horayy~~~ gud luck u guyz ...

here...edited the pic to show bearish flag...


hm..to me..smart people always knows where the direction of the chart is going de..they only make false BO to trap ppl so ppl will believe there's a reversal or something, after that, the chart will go back to its supposed to be direction...so, knowing the direction of the price, can sometimes ignore that there're smart money le.. IMO, usually flag is caused by market makers, giving false impression of reversal...but sometimes, a flag can become a reversal

haha..at least use RSI or Stochastic ba...you dont want long when it's overbought

haha...Fibs and Gann works in every market prices. I read through "Fibonacci and Gann Applications in Financial Markets - George A. Maclean", and also the ebook you recommended but i still havent really been able to apply Gann's tools yet

Fib fan is applied like Fib retracement. Usually i'll apply it in various time frames' high/low, both the vertical retracement and the fan together, then compare the retracement level of different time frame. From there, you'll see how easy/difficult is it for the price to make its directional movement. However, Fibs are only good when the market is rather volatile or moving relatively violent (IMO lar)..if the price is channelling; sideways, bearish of bullish, not so good to apply..

ooo... will go through that book when i hav time...


btw, i think it's cant b categories as flag as it is more than 1 month... this is suggested by bulkowski

Characteristic


i think d correct name shud b measured move down -Corrective phase > Prices can move horizontally but usually rise and recover from 38% to 62% of the prior decline before resuming the downtrend. If the
corrective phase nears or rises above the first leg high, look
elsewhere.

edited: hmm... mayb u right... i shud look at other indicator as well for strong confirmations...

This post has been edited by low yat 82: May 4 2008, 11:17 PM

yeah, that's incredible... i'm very happy... ahaks~

hm..tomorrow took leave...see how to trade during day time..hahaha

efit: lowyat..can understand what i explained ar? i read back...also feel confused myself..lol

This post has been edited by small-jeff: May 4 2008, 11:52 PM

which part?

can a.. jus take d keywords lor

the fan part...

you also very strong ar...here trade forex...there trade stock... aih..tomorrow looks quite difficult for EU and UJ

anyway...if you're interested in the book, pm me your email ba...

This post has been edited by small-jeff: May 5 2008, 12:33 AM

huhu... will slow down abit forex... coz i need sometime to forget ab few straight losses..

mayb later ab d book.. coz wanna finish up EW books 1st ^.^

today ramunia must need to finish as up day.. if not, it is showin sign of weakness...

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Added on May 5, 2008, 11:00 amedited: d fan part r?

yup... d concept same wit normal retracement...



This post has been edited by low yat 82: May 5 2008, 11:00 AM

go for brokers that have ready made indicator packages, then let it automatically trade for you, and you'll be millionaire soon... forex very easy to earn money

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Added on May 5, 2008, 5:48 pmlowyat...why the chartnexus still at 2/5/08 ar? wont update one? or have to wait till the market closes first?

This post has been edited by small-jeff: May 5 2008, 05:48 PM