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General Trading Chat / Ideas

  • #10,401
  • Oct 9, 2019 7:36am Oct 9, 2019 7:36am
talking of h&s, i prefer them in general (on smaller tfs) to only use the ones going in the direction of the market.....so in golds case, looking to buy inverted h&s. Obviously cant ignore big structures for reversals, like on the daily chart with gold the past coupe of weeks, where the big H&S pattern played out

Projection for current gold H&S on H1, up in between weekly open, ws1.......news coming up so it might smash that out of the park, or do the complete opposite! Digs, hope my projection isnt too far off!
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  • #10,402
  • Oct 9, 2019 7:45am Oct 9, 2019 7:45am
Quoting Jp1
talking of h&s, i prefer them in general (on smaller tfs) to only use the ones going in the direction of the market.....so in golds case, looking to buy inverted h&s. Obviously cant ignore big structures for reversals, like on the daily chart with gold the past coupe of weeks, where the big H&S pattern played out Projection for current gold H&S on H1, up in between weekly open, ws1.......news coming up so it might smash that out of the park, or do the complete opposite! Digs, hope my projection isnt too far off! {image}...
if it works for you thats the main thing.. a head and shoulder is a reversal pattern
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  • #10,403
  • Oct 9, 2019 7:48am Oct 9, 2019 7:48am
i take then any time if i like the price action around them heres a 1min chart im in see the weak right shoulder with coil
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  • #10,404
  • Oct 9, 2019 7:50am Oct 9, 2019 7:50am
Quoting Jp1
talking of h&s, i prefer them in general (on smaller tfs) to only use the ones going in the direction of the market.....so in golds case, looking to buy inverted h&s. Obviously cant ignore big structures for reversals, like on the daily chart with gold the past coupe of weeks, where the big H&S pattern played out Projection for current gold H&S on H1, up in between weekly open, ws1.......news coming up so it might smash that out of the park, or do the complete opposite! Digs, hope my projection isnt too far off! {image}...
Tjis is why the markets move with different views,
I'm bearish with a head and shoulders formed at a weekly level followed by lower low and low high on the daily, for me price is now currently testing both a daily 61.8 fib ratio and a 0.5 weekly fib ratio at a key structure level with a double top
  • #10,405
  • Oct 9, 2019 7:57am Oct 9, 2019 7:57am
Quoting Neil0163
{quote} Tjis is why the markets move with different views, I'm bearish with a head and shoulders formed at a weekly level followed by lower low and low high on the daily, for me price is now currently testing both a daily 61.8 fib ratio and a 0.5 weekly fib ratio at a key structure level with a double top
yes agree the bigger time frame pattern will trump lower time ones
Turn your wounds into wisdom
  • #10,406
  • Oct 9, 2019 8:08am Oct 9, 2019 8:08am
Quoting Neil0163
{quote} Tjis is why the markets move with different views, I'm bearish with a head and shoulders formed at a weekly level followed by lower low and low high on the daily, for me price is now currently testing both a daily 61.8 fib ratio and a 0.5 weekly fib ratio at a key structure level with a double top
yes agreed mate, can see that. But could also be a massive bull flag! as u say, everyone has their own views. Mine are more short term in general than the weekly charts, but useful to have it pointed out and know whats going on there - thanks

as for h&s is a reversal pattern.....they work (and fail) going up and going down, in a trend, against the trend etc, just worth keeping an eye on them - as u say, thats only my view
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  • #10,407
  • Oct 9, 2019 8:12am Oct 9, 2019 8:12am
Quoting Jp1
talking of h&s, i prefer them in general (on smaller tfs) to only use the ones going in the direction of the market.....so in golds case, looking to buy inverted h&s. Obviously cant ignore big structures for reversals, like on the daily chart with gold the past coupe of weeks, where the big H&S pattern played out Projection for current gold H&S on H1, up in between weekly open, ws1.......news coming up so it might smash that out of the park, or do the complete opposite! Digs, hope my projection isnt too far off! {image}...

the problem with going against the lager bearish hs is your pattern even if it workouts out is limited like yah man just said it made a lower low swing so have to expect it to go lower you can hold the positions for more pips.
less is more take the low hanging fruit mate where the most pips can be had
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  • #10,408
  • Oct 9, 2019 8:15am Oct 9, 2019 8:15am
ha but saying that golds bullish monthly and the daily weekly pattern is just a pullback if it works out so expect 38 or 50 but gold does like a deep pb so couls see more
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  • #10,409
  • Oct 9, 2019 8:20am Oct 9, 2019 8:20am
Quoting Bk55
{quote} the problem with going against the lager bearish hs is your pattern even if it workouts out is limited like yah man just said it made a lower low swing so have to expect it to go lower you can hold the positions for more pips. less is more take the low hanging fruit mate where the most pips can be had
yeh agreed mate - but im still generally bullish on gold and in and out in a matter of minutes/hours.....so i take a lot of smaller tf moves for smaller pips. As in gold today, im already out of my long now - 50pips good enough for me
  • #10,410
  • Oct 9, 2019 8:22am Oct 9, 2019 8:22am
Quoting Jp1
{quote} yes agreed mate, can see that. But could also be a massive bull flag! as u say, everyone has their own views. Mine are more short term in general than the weekly charts, but useful to have it pointed out and know whats going on there - thanks as for h&s is a reversal pattern.....they work (and fail) going up and going down, in a trend, against the trend etc, just worth keeping an eye on them - as u say, thats only my view {image}
you have come a long ways my friend ,, ,,top down - monthly weekly daily ,, bottom up anything below daily ,, find your levels in the chess match in the trenches ,, in ,, make your money and out ,,, less exposed the better off one is ,,or tiny tot lots and watch it come and watch it go ,,, I prefer to spend it myself
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  • #10,411
  • Oct 9, 2019 8:48am Oct 9, 2019 8:48am
expect one more swing down first Digger give that right shoulder chance to form this is monthy with buy prices bud
note the strong 1272 zone the next daily swing down should clip it and give good long spot
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  • #10,412
  • Edited 9:14am Oct 9, 2019 9:03am | Edited 9:14am
Quoting Bk55
expect one more swing down first Digger give that right shoulder chance to form this is monthy with buy prices bud note the strong 1272 zone the next daily swing down should clip it and give good long spot {image}
expectations and what is supposed to happen are 2 different things a lot of the time to what actually happens ,, ,,anything possible ,, what is built day by day in the chess match and what one can pick out in the back and forth is probable ,,, trade what chart says is known usually pays better in the end
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  • #10,413
  • Oct 9, 2019 9:07am Oct 9, 2019 9:07am
here is h4 gold trade i posted the other day in here at daily low it did well as you can see but where the market is now i think its not got much to the upside left in taking the daily swing lower low into consideration and its pulled back 78.6 and 61.8 already
looking at the monthly chart major res at 1550 with support at 1450 and 1365 i would expect it to range between those prices here until it breakout and gives direction
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  • #10,414
  • Oct 9, 2019 9:08am Oct 9, 2019 9:08am
Quoting digger1
{quote} expectations and what is supposed to happen are 2 different things a lot of the time to what actually happens ,, ,,anything possible ,, what is built day by day in the chess match and what one can pick out in the back and forth is probable ,,, trade what chart says is known usually pays better in the end {image}
yes but the trader edge is in analysis mate without that where is the edge?
i would take your analysis of monthly then down mate so dont miss anything
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  • #10,415
  • Oct 9, 2019 9:16am Oct 9, 2019 9:16am
anybody ever hear,,, its always the shoulders lol,,, big pattern yonder left failed ,,, it got above then the shoulders carried the load ,,they didnt drop it like it was it hot
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  • #10,416
  • Oct 9, 2019 9:20am Oct 9, 2019 9:20am
got above ,, then the failed bear flag ,did get its what tho ,, mid point ,,,, it was above some shit ,,, the ones tht used tht info done alrite ,, and are still doing alrite
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  • #10,417
  • Oct 9, 2019 9:29am Oct 9, 2019 9:29am
Monthly no different than what happens every damn day in these mkts ,, use a few averages and a few simple tools and a few patterns one does alrite,,, appears it coudnt sty below a rather simple thing one can put on a chart ,, one has previous highs and previous lows ,, yes absolutely nothing there tht one could use to make a reasonable and profitable decision
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  • #10,418
  • Edited 9:46am Oct 9, 2019 9:32am | Edited 9:46am
Quoting Bk55
{quote} yes but the trader edge is in analysis mate without that where is the edge? i would take your analysis of monthly then down mate so dont miss anything
I would use the monthly down and then small shit back up ,, the monthly doesent get tht way for the hell of it ,, a lot of chess played as thts being built,,, today somebody with buy orders to fill ,, they get used to poke and prod the highs from areas tht are good for them to get filled ,, maybe tomorrow a shit load of sell orders to fill for some else with a different agenda ,, maybe throw a fuel drop in the mix ,, stps get taken out on one end or the other then eod comes and the chess match is played in a different area ,, and the merry go round goes round and round up and down ,,, day in and day out then 10 years goes by then 20 then you have the monthly picture ,,, same shit different day is a traders edge ,, a trader ,, not a bull ,, not a bear ,, a trader is knowing the same shit is going to happen day after fucking day ,, one has the when and roughly how far every fucking day ,, and one knows wht the news reports will be ,, the big boys can figure the same ole news reports tht come out the same ole time every month as well as any central bank or any of those clowns ,, now a central bank flapping their trap or saying something the wrong way can send things a spinning ,, pretty much why the only surprises or big moves come from interest rate statements and decisions ,, and whther the game being played changes a bit because of different rates,,, there is never anything new or surprising ,, want to know where something may go ,, look where its been and see what pieces one has to get where ,, ,,then what did london do then the usa is either gonna reverse it or add to it ,,, thts what happens everyday
  • #10,419
  • Oct 9, 2019 9:35am Oct 9, 2019 9:35am
note equilibrium where both res and support (1272) extensions are if the daily swing clips that i will join for a 1toRR then free run you long...... i like to enter on the pullback so fingers crossed the price will hit bottom of new range drawn on chart for a nice long hold position.
i
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  • #10,420
  • Oct 9, 2019 9:37am Oct 9, 2019 9:37am
1 sec i will project what i think will happen gold next
Turn your wounds into wisdom
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