pennies..this setup has kept me out of trouble countless times with the combo of guppy and HA candles...I can look at the same chart with reg candles and no guppy and its only a guessing game

H4 pennies...I leave it on H4 on all charts

Here tis pennies.."Everything you could ask for in FOREX but are afraid to ask" template layout and M5 E/U chart


I use SUPDEM

EMAs 30,35,40,45,50 and 55 for Guppy MAs

Heikin Ashi candles

The big candle thingy you pointed out a while back

TDI

and Fibs set on M5

A word of explanation on M5 fibs...any time fibs are set on any TF and chart has SUPDEM in it then you are simply looking at the consolidation Zone for that particular TF...the elongated supply zone at top and elongated demand zone at bottom are basically a consolidation zone for that TF.
A word on Guppy...that can be a very valuable tool and once experienced with it you readily know what to expect..it shows momentum or lack of it...if candles are running away from it faster than guppy can keep up it has high momentum..if candles catch up to guppy and guppy narrows down and starts to run sideways then candles will begin to crisscross zuppy til momentum builds and obvious new trend or continuation of trend begins.
As I said guppy is a really good tool and kinda like Quad Tunnel but closer to price action...heres the chart

Hey pennies..if want something different then you need to build my template...izza dandy...I should name it "Everything you need to know about FOREX but are afraid to ask!!"(LOL)

Yep it is awesome pennies..I'm just blown away and am still amazed!

Twin boys jav...gonna unleash twin FOREX traders on the banks and say sic em guys!!(LOL)

Thanx jav!!...a blessing for sure I never dreamed it would happen...the little rascals are still in NICU this AM but breathing on their own with help of a CPAP...they were a bit premature but all is well with them.Theyre sleeping and dreaming of pips and charts I'm sure(LOL)

Thanx Heavyweight...I keep pinching myself but nope...not a dream..its real(LOL)

Thanx for the congrats kermit!..I bet they will be a pill for us but that's Ok...we'll spoil em anyway I'm sure(LOL)

Hey guys ..gotta share something with you...we only had one child..a daughter...she is now 46 yrs old but guess what...last night she gave birth to twin boys!!...our first natural grandchildren!!...anyway I cant help but want to shout it to the world and decided to start with you characters(LOL)

GM pennies..they don't know what theyre doing either(LOL)..another round of mindless selling of Euro and buying of USD...the crazy part to me is fundamentals are out the window on this because all US economic data is disastrous while Eurozone data is coming in with one surprise after another to the good side!Maybe the USD buy button will get unstuck before long...youre a computer man...tell them whats wrong with their keyboard(LOL)

Howdy jav...I personally have no intention of trading swissie(scared now of CHF crosses) but due to its negative correlations to dollar crosses it IMO must be watched if you want to successfully trade dollar crosses...the correlation is just too strong.Set long term fibs(daily or H4) on swissie...then do the same on dollar crosses ...then depending on your chart setup drop to M5 or even M2 to decide on the actual trades.My chart is set up to do a lot of damage to the banks so thats how I trade(LOL)As I told pennies in my last post....I use heikin ashi and the long term guppy along with of course fibs.This tells me at all times whether bulls or bears are in charge...thats all I really need to know.The rest is being in tune by experience with what I think the chart is telling me.

I got kinda irritated with the E/U drop because I was so caught up in watching it exclusively I only made 19 pips since early morning...did well on A/NZD long but then got hung up on E/U ..the 19 pips was long on E/U as they ran stops below 50% and I took the scalp believing full well it wasn't a reversal of downward move...not enough legs down..its rare indeed for reversal to occur that early in a trend so at key levels I get in and get out rather quickly..true reversals seldom occur til tests (consolidation levels) have proved whos in charge..bulls or bears.Am using heikin ashi to show me when more buyers or sellers are present and HA keeps me out of the trouble that regular candles can get you in...I now scalp less than ever before so take fewer trades but have more confidence in my entries/exits..also I've been using the slow guppy for quite some time and rely on it heavily to show trend and direction along with confirmation using HA candles.Am watching E/U closely now for a consolidation to develop..its at a stall spot to trap me into a long..or if it bases to trap me into a good trade(LOL)...cant help but think dollar bulls aren't finished yet tho..so E/U current condition may just be a setup for at least one more leg down.Boy..I sure got longwinded on this ..huh?(LOL)

If you look at a daily on U/CHF you will see it found major support on retrace at 38.2 fib...its run since then and has now made it back to 23.6 mark or 76.4 from major bottom..bottom line is it looks like a technical play on fibs...no news needed..just banks trading by technicals.That move on swissie has caused E/U to get stomped since they have near perfect negative correlation.Thats my take on it and why I am slow to take the long E/U...if current swissie fib line doesn't reject it then a deeper move could result with E/U til the market wises up on the USD again.

I'm drooling over E/U now but wont enter til I see pressure on swissie..so far its been blue blue skies for that sucker...one thing FOREX has taught me is theres never a reason to rush in or rush out..I'm a patient man!

Heres a link to real time national debt...THIS is why I say they cannot raise rates..kinda fun to watch BTW if you've got nothing better to do(LOL)

http://www.usdebtclock.org/

Well ...same old BS in the feds minutes...all the crap about when theyre gonna raise rates!..I've said it a hundred times and they don't seem to listening to me(LOL)...they CANNOT raise rates without the US going into technical and factual default!!The national debt is far too high now and growing at light speed!

About 5 minutes to showtime...banks should start pulling their bids real soon now and then the games afoot!

18 minutes before the firework display!!!(LOL)

I'm all cash now myself...lunchtime at the store and don't wanna be in anything I may be too busy to babysit...FOMC minutes is high impact to say the least!

BTW pennies...I built the Oanda TDI for the helluvit and now must eat my words being negative on TDI..I must say I kinda like it but mainly on M2 or M5...still don't care for it on long TFs...but on the ultra short ones it gives a nice graphic display of price action on main panel...good job on that one...pennies but no raise!

Here we go again pennies...did you stick WITH your shorts or stick TO your shorts?(LMAO)

Yep...he always forgets to take his meds...and when he's trading he forgets to pottie too(LOL)

GM Heavyweight...kinda looks like pennies needs to get up from his much needed nap and cash in his lottery ticket before long on E/U(LOL)

That's a shame Heavyweight...hate it when spreads change as liquidity dries up...hate to think of the number of times I had one solid in my favor but needed just a few more minutes with major market still open then boom!..danged spreads blew it up and had to wait til another major session to cash in!

E/U sure acts like its gonna bust below the fib line...this is the 4th touch of it now...don't look good for long here if it doesn't bounce soon

Probably best...swissie intraday trend is biased up and naturally then E/U is biased down

Channels not broken yet pennies..fib line minus spread is bottom about 1.0838...main channel bottom is 1.0846..thats the price line with most touches on M15 since channel started

It could happen but not a sure thing yet...I do see that swissie looks very prone to breakout of its channel to the topside..if it does thing E/U might dip hard for a while til that leg of intraday trend exhausts itself.

Careful pennies in trading the M5...I'm used to it but most folks aren't..it can make you as bipolar as the market(LOL)...I just set up charts on swissie and E/U to see whats happening with E/U..had to go to M15 on them and see the consolidation channel on both which makes them bipolar til breakout...E/U is channeling about 1.0840 bottom and top 1.0877...been 2 touches now on both top and bottom so its prone to break one way or other before long

Getting cheap on us Heavyweight?..dont know about pennies but Pampers are my choice for serious trading..not sure how it all got started but seems that the boots needed now need to be replaced with chest high waders!!..shheesh(LOL)

Sounds pretty simple to me pennies...from your calculations E/U is either going to 1.12+ or .97-...makes perfect sense to me...I think purple is dead on bud!!

Aw jav...pennies and I were simply carrying on an unintelligent conversation and as a result we have absolutely nothing figured out(LOL)

Well Heavyweight I hope you have high rubber boots also...getting kinda deep in here..pennies and I were just discussing the simple mechanics of trading FOREX and the need for fail safe devices..rubber britches(LOL)

Me too on occasion so I learned years ago to always wear rubber pants any time I'm trading...bathroom breaks aren't needed til the smell gets to you(LMAO)

Ohh mammys little baby like shorting..shorting...mammys little baby loves shorting bread(LMAO)

I'm guessing the second drop was caused by the first one pennies...it didn't consolidate after first drop but gently tilted down til it fell off the cliff..I look for 2 or more of these drops following loss of upside momentum and break of support

They must have read your post pennies(LOL)..tricky devils huh(LOL)

Didn't know about that...guess this day's pretty well over then til tonight...AUD rate decision 30 minutes before midnight!I still thing they will hold and not lower it 25 bp..I understand theyre having a commercial real estate boom which could influence them to hold at 2.25

Some of the banks seems like should have egg on their faces too on A/NZD...several said fair value is lowered but still 1.0440 and that parity was very unlikely and also said that this year it should be opportune between 1.02 and 1.08!!Boy ...did they call that one wrong(LOL)