Kraaja, you've made some good points.
I'm not saying we won't get a move to 1.5000 or even 1.5200. I am saying from current level we are going to get a reversal. Candlestick pattern pros will tell you this is the end of the line for the EUR/USD because of the perfect, beautiful looking butterfly pattern on the monthly.
When I say reversal, I am not talking about anything terminal, necessarily. It could be something that could satisfy a minimum objective of 1.3936. Personally, I won't know if it is terminal until I see the nature of the reversal.
Smartrade, as most of us know, is one of the most respected traders in this forum. I have no doubt that he is an excellent trader. From a traders' psychology point of view, I could hit the "thanks" button on about everything he says. You probably knew I was drawing up to something, so here goes:
I think even Smartrade will agree with this next comment. Methodologically, we do not have to agree in order to maintain a personal respect and for our personal method to still produce. One area in our trading methods we disagree, is the notion of the stochastics. As long as I understand him right, he says to wait for 5 candles of being OB, and then look to initiate the trade. Nifty was OB on the 4-hour for 22 candles before it peaked.
The weekly is something I don't even consider right now because it is still rising. The signal line just barely touched 85, so it just entered OB territory this week. Both need to be there to give a legitimate signal.
Even though I use the stochastics, it is not a major player in my methodology. Something tells me that by now even your dog knows I love the ichimoku and my proprietary S&R's. Those are the staples in my methodology, along with the TL's.
This is also a case (At least for now.) that I cannot say if you are right or wrong, because I do not know if what should be a very imminent reversal for the pair is going to be terminal.
In closing, let me say to use this forum as a gathering of ideas in order to formulate a successful, workable methodology. You will find by reading Linkon's thread that he and I will share different perspectives on the ichimoku. I already mentioned the different perspectives me and Smartrade have on the stochastics. We have a difference in those perceptions, but we are still winners, because our trading system is catered to what is best for us. This is what this forum is all about.
LOL, if you want to go to Ichimoku Hyo Kinko 101, this is not the thread for that. All I'm good for are excellent forecasts. It's Linkon's thread for that. I was amazed at the work he put into that when I first read it.
I'm not saying we won't get a move to 1.5000 or even 1.5200. I am saying from current level we are going to get a reversal. Candlestick pattern pros will tell you this is the end of the line for the EUR/USD because of the perfect, beautiful looking butterfly pattern on the monthly.
When I say reversal, I am not talking about anything terminal, necessarily. It could be something that could satisfy a minimum objective of 1.3936. Personally, I won't know if it is terminal until I see the nature of the reversal.
Smartrade, as most of us know, is one of the most respected traders in this forum. I have no doubt that he is an excellent trader. From a traders' psychology point of view, I could hit the "thanks" button on about everything he says. You probably knew I was drawing up to something, so here goes:
I think even Smartrade will agree with this next comment. Methodologically, we do not have to agree in order to maintain a personal respect and for our personal method to still produce. One area in our trading methods we disagree, is the notion of the stochastics. As long as I understand him right, he says to wait for 5 candles of being OB, and then look to initiate the trade. Nifty was OB on the 4-hour for 22 candles before it peaked.
The weekly is something I don't even consider right now because it is still rising. The signal line just barely touched 85, so it just entered OB territory this week. Both need to be there to give a legitimate signal.
Even though I use the stochastics, it is not a major player in my methodology. Something tells me that by now even your dog knows I love the ichimoku and my proprietary S&R's. Those are the staples in my methodology, along with the TL's.
This is also a case (At least for now.) that I cannot say if you are right or wrong, because I do not know if what should be a very imminent reversal for the pair is going to be terminal.
In closing, let me say to use this forum as a gathering of ideas in order to formulate a successful, workable methodology. You will find by reading Linkon's thread that he and I will share different perspectives on the ichimoku. I already mentioned the different perspectives me and Smartrade have on the stochastics. We have a difference in those perceptions, but we are still winners, because our trading system is catered to what is best for us. This is what this forum is all about.
LOL, if you want to go to Ichimoku Hyo Kinko 101, this is not the thread for that. All I'm good for are excellent forecasts. It's Linkon's thread for that. I was amazed at the work he put into that when I first read it.
