there ya go Tsing Tao, music to trade by: http://www.youtube.com/watch?v=juEeau5nHVU&feature=related well the 4H didn't close on the 50 but did close just under the 61 , in the process coming short of the 1.37578 level, and 1.37752 above that the HH on Feb 2 at 1.38606 was below the 2 close levels that top at 1.38947 , and the Jan 27 HH was 1.37286 while yesterday's session was 1.37241 a small problem I have is that my ms chart is setup slightly differently than my mt chart, and via the ms I interpret another rise of the price, while I interpret the mt chart as a could-be down from here Thursday Feb 10 session: 4:15pm I think I have to go with more upside quite how far the price could go I'm unsure, but the price is strong within various lines
AMP Futures' flagship data feed is CQG in conjunction with NinjaTrader v 7 only, the CQG feed also provides historical data and All ww exchanges AMP's account mimimum is $500 , of course it requires $500 to daytrade a futures contract and if one's account were to drop below $500 . . . roundturn $4.82 I've had enough isp/power downtimes while trading for it to be a concern whether or not a Globex trade could be closed by the broker - AMP says yes, they can close a trade. NT 7 with CQG demo: http://www.ampfutures.com/ yesterday proved the ms chart wasn't working correctly, an adjustment made plus an update to the 60min should keep things on track it's still not 'without a shadow of a doubt' for me what the price is doing is yesterday's high the right shoulder of an h&s ? or part of a series of rallies and declines that might see a low around 1.3450 area that would complete a correction prior to a new high ? Friday Feb 11 session: 5:25pm ok, obviously going down, a base around 1.35753 ? a base around 1.35079 ? or is the price going to blow thru - h&s 'confirmed' and going back down to 1.29 or lower or, correcting the full Jan-Feb rally so down to 1.3380 area, 1.3250 ? might we see a rally back up to the top gap line ? the 1.3740 area ???
last week's close on the Weekly finally registered on my chart as a down week, and by the end of this week I expect the chart to register an up week last look at fxt and the price was falling; not surprising, while Friday's formation looked like a base, the formation at the time of the close suggested an rc with more down- side to come, and I believe today will be a down day thru the lower gap line Monday Feb 14 session: Sunday: 2:45pm levels targets: new: 1.34799 old: 1.34624 old and new: 1.34349 new: 1.33899 while the downside could end by today's close, have to consider it could continue into Wednesday
more good Sunday gap trades I don't see anything like a base on any timeframes, not that a base/reversal formation Has to form, although with this correction I'll be looking for one, so I expect more downside later this session Monday Feb 15 session: 3:25pm the 4H had closings just above the 1.34624 level, penetrated the 1.34343 level and stopped just above a new, new level of 1.34253 I think the price 'may' pop up in/to the gap before coming off again with a new downside targets of new 1.33899 and new and new 1.33671 as well there's an old level at 1.33344
(previous of course was for Tuesday) the price bounce was a surprise, but this current formation appears to be â dare I say it - forming a base looking at the 60 , the price penetrated and closed above the 1.34343 level, peaking and closing under the 1.35342 level and below a new 1.35526 50 , and 3 hours ago it closed and bounced off the 61 at 2pm est the FOMC minutes will be released Wednesday Feb 16 session: 3:30pm this base, If that's what it is, has an H&S appearance, so how high the right shoulder could go is the first question. a base as we know may first be symmetrical, the start end legs, weak - at the end of a downtrend v v uptrend - right leg lower than left, strong right leg higher than left, weak/strong suggesting a weak/strong forthcoming rally as the price approaches the gap line will it rally to the 1.35162 level again where it's already had a close - right shoulder, then decline the downside for a symmetrical formation would be the 1.34343 area, although the 60 min left leg close was 1.34424 , while the 4H close was that 1.34624 level time targets are the 4H 12:00 and 16:00 bars while presuming a base formation, is it possible the correction is over, the low has been made, and the price is now in rally mode ? - there will be no right leg down
the base - if that's what it was on the 4H reminds me of the formation of Nov-Jan however I'm wondering if there's still going to be another decline to say the 1.32s before this correction has completed Thursday Feb 17 session: 4:00pm steady direct climb back to the gap line ? 4H bar 12:00 again, then a selloff ? upside scenario is the price breaks thru the gap line and keeps going
the price took a great deal longer than I thought it would to reach the gap line and now that it has reached it, what's it going to do ? longer term I think there's more upside Friday Feb 18 session: 5:50pm possibility the price could travel to the Feb 9 high, it may also have topped down- side could be 1.35668 ? in a slooow decline, bar 12:30 ? and there's a level below that at 1.35590 , once there, perhaps a base formation then a rally into the close ?
there's a number of alternate interpretations via the Daily, and a case for the rally to continue, as well as a case for another decline currently the major $ fundamental is the US budget funding, the Republicans want massive cuts, Obama would veto cuts unresolved, the situation comes to a head with the closure of the Federal government on March 4 - so basically it's a Buy on rumour Sell on news trade, overall I'll go with a continued Buy Monday Feb 21 session: Sunday: 4:00pm next 3 higher levels, 1.37435 , 1.37578 and 1.37752 which top the Feb 9 high, then there's 1.38462 which is around the Feb 2 high, and breaking that level would I think see the price going to the Nov 2010 1.4280s high - but not during this session ;
Oanda have announced that their MT4 is now live I just downloaded and installed the MT4 Game as Oanda refer to their demos so far as my perusal's determined, the datafeed and resulting prices are neither one thing nor t'other there are some Saturdays data on the Daily, but not every Saturday, and where that data is coming from for those small horizontal lined Saturdays I've no idea, since if you look at fxt, you won't find any Saturday trades there as stated previously, and aside from the Oanda datafeed inconsistency, the price analysis I do especially for time targeting is based on the 5 day trading week, tho I am able to add weekends and holiday gaps in ms if I want to go the Gann route there also appears to be a small difference in the prices displayed on the fxt v mt4 which looks like a 0.00007 lower difference with mt4 I'll keep the demo up and look at the data more closely on the weekend, and while I had no thoughts to use the Oanda mt4 to trade from as fxt is so much faster, I think it is no use to me and will stick with my Alpari MT4 demo meanwhile, it's beginning to look like yesterday's 'I'll go with a continued Buy' is not correct, but how incorrect ? is this a correction of last week's rally ? or a Major Sell ? that'll see the price below the Feb 14 low of 1.34278 Tuesday Feb 22 session: 6:00pm some interim levels: 1.36041 , 1.35854 , 1.35773 and old ones, 1.35590 , 1.35342 then the gap line; keep an eye on bars 04:00 and 05:00