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Technical Analysis and a few charts to ponder

  • #81
  • Sep 22, 2006 11:09am Sep 22, 2006 11:09am
Yen 4HR close up
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Profit is where readiness meets Opportunity
  • #82
  • Sep 22, 2006 11:18am Sep 22, 2006 11:18am
Here is some interesting little clues that often shows signs of impending weakness. Look at the arrow on the below charts and notice that on the last high, the Franc failed to reach the top of the channel before reversing. Also notice the big wick on the candle. Two very good hints
That may be enough to consider holding for a break of the bottom of the channel instead of taking profit on a touch of that lower line.
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Profit is where readiness meets Opportunity
  • #83
  • Sep 22, 2006 11:20am Sep 22, 2006 11:20am
a close up of the previous chart
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Profit is where readiness meets Opportunity
  • #84
  • Sep 25, 2006 9:50am Sep 25, 2006 9:50am
It is amazing how well the dollar crosses are "behaving" for the technical analysis guys. This is when the extra work of learning the classics pays off.
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Profit is where readiness meets Opportunity
  • #85
  • Sep 25, 2006 9:51am Sep 25, 2006 9:51am
Here is the Franc 4HR
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Profit is where readiness meets Opportunity
  • #86
  • Sep 26, 2006 3:15am Sep 26, 2006 3:15am
I use a tool almost nobody use in MT4 and is called Fibonacci channel. I modified the tool so the extension part draw a second channel.
It has the versatility of equidistant channel tool and is very easy to apply.

http://img247.imageshack.us/img247/2...1239hb9.th.png
Johann Channels and cycles are everything
  • #87
  • Sep 26, 2006 3:36am Sep 26, 2006 3:36am
Ascending leg on Franc. 1 H chart.

http://img141.imageshack.us/img141/2...3917hz8.th.png
Johann Channels and cycles are everything
  • #88
  • Sep 26, 2006 3:41am Sep 26, 2006 3:41am
http://img132.imageshack.us/img132/4...4418eh3.th.png
Johann Channels and cycles are everything
  • #89
  • Sep 26, 2006 4:37am Sep 26, 2006 4:37am
Really nice thread, FXOpportunist.

Is it just me, I can not see any charts on your posts, Tragapips.
  • #90
  • Sep 26, 2006 6:05am Sep 26, 2006 6:05am
Hi FXOpportunist,

Great thread, thanks! Could you describe how you go about drawing your lines to those of us new to this? i.e. to you pick significant highs/lows to draw a first trendline from and then look for parallel correlations or is there more to it? What I'd like to get a sense of is your thought process when you sit down at a new chart and try to determine the current trend (and maybe developing trend?). Secondly, a description of the horizontal lines on a few of the charts (someone mentioned Murray math?) would be appreciated as well. How do you go about drawing these and also are intersections between lines of special importance?

Thanks much,
BlueMeasure
  • #91
  • Sep 27, 2006 10:00am Sep 27, 2006 10:00am
Quoting Tragapips
I use a tool almost nobody use in MT4 and is called Fibonacci channel. I modified the tool so the extension part draw a second channel.
It has the versatility of equidistant channel tool and is very easy to apply.

http://img247.imageshack.us/img247/2...1239hb9.th.png
Interesting tool Tragapips. Is it standard or is ti a download?
Profit is where readiness meets Opportunity
  • #92
  • Sep 27, 2006 10:05am Sep 27, 2006 10:05am
Quoting bluemeasure
Hi FXOpportunist,

Great thread, thanks! Could you describe how you go about drawing your lines to those of us new to this? i.e. to you pick significant highs/lows to draw a first trendline from and then look for parallel correlations or is there more to it? What I'd like to get a sense of is your thought process when you sit down at a new chart and try to determine the current trend (and maybe developing trend?). Secondly, a description of the horizontal lines on a few of the charts (someone mentioned Murray math?) would be appreciated as well. How do you go about drawing these and also are intersections between lines of special importance?

Thanks much,
BlueMeasure
Hello BlueMeasure,
If you read my posts from the beggining, there are several posts that explain how I found these channels and how I draw them. After reading those posts, feel free to ask me any specific questions you have.

One more thing I will offer is just put up a 4 hr chart, zoom out till you can see about 3 months and then start drawing psychotic trend lines until you see one trend line angle that has consistent correllations at all of the significant levels. That is the fastest way to get started.
Profit is where readiness meets Opportunity
  • #93
  • Sep 27, 2006 10:09am Sep 27, 2006 10:09am
We contimnue to see amazing technical behavior. Today we had perfect reaction to the price channels on the home sales spike. Now the strategy for holding is to move the stops into the money and just ride it to the next price channel line.

Here is the Franc 4 HR, candy from a baby?
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Profit is where readiness meets Opportunity
  • #94
  • Sep 27, 2006 10:11am Sep 27, 2006 10:11am
The Pound 4HR
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Profit is where readiness meets Opportunity
  • #95
  • Sep 27, 2006 10:41am Sep 27, 2006 10:41am
Here is the Yen 4 HR tech I created last week. Like the Franc and the Pound we have an excellent reaction.
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Profit is where readiness meets Opportunity
  • #96
  • Sep 27, 2006 10:44am Sep 27, 2006 10:44am
Here is the 4 HR euro chart. As you can see the price fell short of the lines I had chosen. No trade off of this chart today. I am also considereing some different angles that may fit better.
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Profit is where readiness meets Opportunity
  • #97
  • Oct 3, 2006 2:52am Oct 3, 2006 2:52am
The tool I mentioned is a standard tool in MT4. See insert menu.

http://img182.imageshack.us/img182/4...6024735ft9.png

You can customize the tool the way you want. By default there are no level inside the primary lines but you can add those level putting negative values in levels tab of property box indicator: -0.5,-0.618,-0.382. Play with the tool I know it can saves you a lot of work.
Johann Channels and cycles are everything
  • #98
  • Oct 4, 2006 6:00pm Oct 4, 2006 6:00pm
Is there no one else out there that trades from old fashion technical analysis? Is everyone on this forum a system trader?

Come on guys I know you are out there.
Profit is where readiness meets Opportunity
  • #99
  • Oct 5, 2006 9:38am Oct 5, 2006 9:38am
Quoting FXopportunist
Is there no one else out there that trades from old fashion technical analysis? Is everyone on this forum a system trader?

Come on guys I know you are out there.
Fxopportunist, your comments would be appreciated.
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  • #100
  • Oct 5, 2006 2:42pm Oct 5, 2006 2:42pm
I see some good corrollations in there but it is pretty busy for my tastes. I wouldn't know whta to play. Can you zoom out some to see the bigger picture?
Profit is where readiness meets Opportunity
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