I had managed to have a setup where I can choose any TF (1..24 hrs) I want too without using those period converter:-).
Is it 3 minutes TF? What did you use 8hr TF for? Thanks.
Is it 3 minutes TF? What did you use 8hr TF for? Thanks.
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DislikedHere is my POV..For the past several weeks the PA tested the 150.00 resistance zone several times.. Based on my charts, I still see overall direction as bullish..
Now I have been buying on the dips from 141.00 area..I am a swing trader so I look at the big picture where this beast is heading..I see many posters talk alot about VSA which I am not an user.. All this talk about volume on a friday doesn't mean nothing to me IMHO..At the end of the day on fridays volume most of the time is low, so all this PA is BS....
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Dislikedi agree with the long term trend but we could visit 142-140 and the long term trend will stay intact and about the risk aversion (I'm sure you meant risk appetite) i think its better to wait to get clearer view about whats going to happen before you decide so .. im not bull nor bear but something tells me that the next week we're going to drift lower,
i like to trade by the moment and just hope someday i'll be millionaire and trade long term, just like you, leaving positions for weeks and months perhaps?, but untill then i'll trade using the...Ignored
DislikedAWWWWWWWWW here it go. . .
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Okay - Ladies and gents it looks like the 1st part of this weekly plan is working out so far - Lets see what happens over the next couple of sessions.
Back 2nite -
Below is the full post from Saturday 04/04/2009
Sell @ 149.50/150 (may go up slightly more 150.15/151.50 - major resistance up here) for a ride down to 0.618 Fib of the last 5th wave move. . . Entire trade will be liquidated at 137.50/138/139
Flip the trade to buy at 137.50/138 or low, From there I expect ranging from 138-148 area for at least 5 days or so. . . Therefore, I will hold to 148 and sell 3/4 position at that price. Then wait for another drop to add to original position at 139/138 with SL at 136.50/137. . .
Hold that position until 165. . . sell entire position at 165 and flip trade to short for a ride down to 142/140.40. . . buy it back in that range for a ride to 181.. . . SL with be set at 139. . .
This should start the spring/summer rally which should start ar'd 04/12th leading up to 04/19th
Hold on to this post and lets see how it plays out every step of the way over the next 25-30 days. . .
I will keep it handy so if/when it plays out we can check off each play as it occurs. . .
All my analysis is based on the daily/weekly/monthly chart. . .
Anyway lets see what next week has in store for us. . . Just can't see it just keep continuing to go up if the uptrend is to continue. . .
JMHO!
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Dislikedgreat analysis bro
keep up the good work, surely volume shit is for scalpers.Ignored
Dislikedi love this post Q
we are doing somewhat similar to what you posted. great analysis.
we are currently on the 165 leg, then back down to 141/142 area hopefully.Ignored
DislikedYeah "Q" is very precise with the details with the overall long term PA...
It's worth reading his analysis.
I keep it simple and follow the overall trend..
Look at the higher TF and you will see the PA bounced off the 118 area and never stop climbing every week..
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Dislikedi agree with the long term trend but we could visit 142-140 and the long term trend will stay intact and about the risk aversion (I'm sure you meant risk appetite) i think its better to wait to get clearer view about whats going to happen before you decide so .. im not bull nor bear but something tells me that the next week we're going to drift lower,
i like to trade by the moment and just hope someday i'll be millionaire and trade long term, just like you, leaving positions for weeks and months perhaps?, but untill then i'll trade using the...Ignored
Dislikednice run today . Took a sell before market closed . who is buying ??/ the volume was marked up 200 pip on low volume and not only low but divergence. That is why sells did not work they market was being manipulated in low volume Friday after noon session
This may actually signify some weakness going into early next week .
This ties in with my theory that GJ is being distributed on the 4 hour chart
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Dislikedvolume is just another tool in your toolbox, don't need it to make money in forex, you need alot of experience with it to use it properly as any other tool.Ignored
DislikedTA: overall trend on the daily is still bullish...Start the week by looking at the higher TF and work your way down to lower TF until you see a clear view of the overall trend...Take only trade in the daily trend direction and buy on dips in that direction..indicators lag...
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DislikedI agree totally, I temporarily lost my medium term focus, which is CLEARLY up on the monthly charts, and also failed to pay attention to the shorter timeframe charts, that were indicating "buy BUY BUY" lol, Anyway ended the week net positive, but it could have been so much more.
I'll post charts and upgraded indicators later.Ignored
Dislikedhttp://www.forexfactory.com/showpost...stcount=175783
As of now I miss 6 pips from yesterday last long from 149.15 but should be ok as I already set my trailing stop of 15 pips and let she run when open tomorrow
Overall we still have tendency to going back to 148.50 as long as PA not break above 150.80 next week..Then we may have tendency going to 155
H4/D1 - Told me that if 150.80 failed next week 148.50 possible.
D1- Told me a same thing thing for seeing at 150.80 level.Break that point 152.35-155 possible unless...Ignored
DislikedTo tell the truth, I wasn't really using my normal system, I was trading based on a daily "dark cloud" candlestick pattern.Ignored