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trade the reject of Sup/dem line

  • #21
  • Oct 7, 2006 9:38am Oct 7, 2006 9:38am
I was thinking the same thig fibo. It will be really interesting to know how many times the trendlines are broken and how many times the price rejects.

This method would give us more alternatives to win with trendlines.

Regards
Alfredo
  • #22
  • Oct 8, 2006 8:16pm Oct 8, 2006 8:16pm
  •  itguy
  • | Joined Sep 2006 | Status: 110..220....Whatever it takes | 39 Posts
I looked at back charts and this definitely makes sense. Price is either going to break the trend or its not. Several pairs have not broken a trend line last month and just bounce around consistently from supply to demand. USD/CAD has been doing it for awhile and right now looks like it's going to do it again. Has anyone come up with any rules or studies that confirm this theory?
  • #23
  • Oct 8, 2006 8:38pm Oct 8, 2006 8:38pm
Right now I am long EUR/AUD. A beautiful channel has been formed and it seems that it is going to bounce again at mouteki support. Stochs works fine to confirm bounce. Lets talk about this trade tomorrow. Regards. Alfredo
  • #24
  • Oct 9, 2006 1:17am Oct 9, 2006 1:17am
Quoting nuna1976
Right now I am long EUR/AUD. A beautiful channel has been formed and it seems that it is going to bounce again at mouteki support. Stochs works fine to confirm bounce. Lets talk about this trade tomorrow. Regards. Alfredo
I am looking for a suitable place to go long.
I am JuMPeR.
  • #25
  • Oct 9, 2006 1:22am Oct 9, 2006 1:22am
looks like a bounce off supp for gbp/usd. not a complete touch , but look good to me
  • #26
  • Oct 9, 2006 2:28am Oct 9, 2006 2:28am
how about if you get stopped out you just reverse the trade, just an idea needs testing
  • #27
  • Oct 9, 2006 7:01am Oct 9, 2006 7:01am
I actually have a downward trend line on the slope and will go long when it breaks that. It looks like it already broke the lower trend line though. No idea how far down it will go but hopefully I'll catch it on the way back up. The daily chart sure is trending north.
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  • #28
  • Oct 9, 2006 8:12am Oct 9, 2006 8:12am
I honestly think that any trade succeeding during this US session will be due to plain luck. US is having holiday -- anyone with a bit of money can run prices any way he likes -- and this will obey no technical or fundamental rationale.
I am JuMPeR.
  • #29
  • Oct 9, 2006 9:22am Oct 9, 2006 9:22am
Quoting jumper
I honestly think that any trade succeeding during this US session will be due to plain luck. US is having holiday -- anyone with a bit of money can run prices any way he likes -- and this will obey no technical or fundamental rationale.
I'm not sure that is true. I tried it myself earlier and sold cable big time, 2 lots in one go. Broker didn't seem to have trouble placing it in the market and cable didn't go down much either. So I'm not so sure anyone with a bit of money can run prices.
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  • #30
  • Oct 9, 2006 9:43am Oct 9, 2006 9:43am
Quoting Uphios
I'm not sure that is true. I tried it myself earlier and sold cable big time, 2 lots in one go. Broker didn't seem to have trouble placing it in the market and cable didn't go down much either. So I'm not so sure anyone with a bit of money can run prices.
Ok, here's why I think this way:

It is now US session and London is closing. US is off on holiday so anyone trading during this time will likely be in the minority. If price moves, it will likely be very minor -- a tight range that will see price go nowhere in particular. If you have a bit of money ("a bit" is relative, and I was understating ), you are practically the biggest player in the market and no one will be there to "counter" your trades. So price will move according to your trades alone and it will not respect technical levels so much (but of course we have pending orders and options lurking around so this single player's effort might not suffice).

Just my thoughts, ignore if you please.
I am JuMPeR.
  • #31
  • Oct 19, 2006 7:01am Oct 19, 2006 7:01am
Personally I think people are starting to realize mouteki isn't as simple as buy/sell on break and the overcomplicating has once again begun with added filters, indicators, articles and whatnot.
All you need is your chart, knowing what price action is telling you and some trendlines. Mayyyybe some fibs. But keep it simple.

Patience.

Raczekfx teaches rightly:
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Trust price. Know yourself.
  • #32
  • Last Post: Apr 18, 2013 10:27pm Apr 18, 2013 10:27pm
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hey there!
anyone have this mtf indicator?
thanks in advance
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