eur pln daily
Chart Pattern Discussion 4 replies
Daily Chart Trading Discussion 336 replies
Chart patterns and trendline discussion.... 293 replies
DislikedNzdjpy 4h. Another imperfect bat. Also ABCD at the top of it on M30 adding more confirmation.Ignored
DislikedGbpaud H4. Also watching this. In the perfect world it would go up 300 pip to 0.618 expansion. But this dimond-like thing scares me a bit.Ignored
Dislikedyou shouldn't be scared, it could be a diamond bottom.
Overall performance rank for up/down breakouts (1 is best): 8 out of 23; 1 out of 21
http://www.thepatternsite.com/diamondb.html
edit:
Statistics say that the breakout is upward 69% of the time, and an upward breakout is what I expect here.Ignored
DislikedAudnzd daily - limit missed by 3 points, now up 50 pip. I am not chasing that.
Usdsgd 4h - out.
Nzdjpy 4h - out.
Gbpaud H4 - price broke down.
Feck it!
Now I am getting why thelastcoke is so scrupulous about patterns and harmonics. Another lesson: if there is no immediate reaction, and price action around expected level is 'shady' - scrap the trade.
I am going back to a trend line, a channel, and supp/ress levels. Edit: and fibs of course.Ignored
DislikedAudnzd daily - limit missed by 3 points, now up 50 pip. I am not chasing that.
Usdsgd 4h - out.
Nzdjpy 4h - out.
Gbpaud H4 - price broke down.
Feck it!
Now I am getting why thelastcoke is so scrupulous about patterns and harmonics. Another lesson: if there is no immediate reaction, and price action around expected level is 'shady' - scrap the trade.
I am going back to a trend line, a channel, and supp/ress levels. Edit: and fibs of course.Ignored
DislikedAs LS said, key is to combine (confluence) patterns with other studies. For instance, D + S&R will give you in most cases a very nice entryIgnored
Dislikedspend some time looking for them in historic data and look for confluence to get a good feel for them.
its really worth your time, you won't loose money by doing that.Ignored
DislikedUsdcad. Possible bounce off 61.8 retracement. Level 70.7 looking even stronger with lot of action around it in the past (also back in 2007).
Thanks for the advice. It's a really good idea.Ignored
DislikedGBP CAD 1h
hi TLC.
i hope you read this and can comment on my bat to retest wedge.
my AB=CD pattern doesn't make it to 88.6.
All other levels seem ok to me.
i wrote down the levels in the chart.
i am not sure where to expect D.
will go short at AB=CD level thoughIgnored
DislikedHello LS, D at 100% looks fine because it is in confluence with Resistance but I'd feel more comfortable at 88% (Bat D)Ignored