@Timetells...
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- #8,342
- Jun 6, 2023 10:59pm Jun 6, 2023 10:59pm
- Joined Dec 2018 | Status: Trader | 4,607 Posts
@Timetells... {image}
Cheers W, love the chart.
And an excellent stop-off point after inflection for the first stage of the market move earlier. And near enough to the 50% of yesterdays Lond low-NY hi swing.
Biz as usual
.I'll slip in a quick intra-day update here. 63½ pips was an honest Asia move imo, back now for Franky to see where price starts there & where they then take it.
Trade well guys.
.
- #8,343
- Jun 6, 2023 11:22pm Jun 6, 2023 11:22pm
{quote} Cheers W, love the chart. And an excellent stop-off point after inflection for the first stage of the market move earlier. And near enough to the 50% of yesterdays Lond low-NY hi swing. Biz as usual
- #8,345
- Jun 7, 2023 4:27pm Jun 7, 2023 4:27pm
- Joined Sep 2006 | Status: Trader | 10,704 Posts
{quote} Yes, I missed the first stage though, till it broke the triplet (prior Lond Open, Month Open, Day PP) and got what I wanted after that, not huge at all but what I chase. The market was keen to trade under the day Open all morning (with the fake spike over as you spotted).
every Saint has a past. Every Sinner has a Future
- #8,346
- Edited 5:21pm Jun 7, 2023 4:59pm | Edited 5:21pm
- Joined Jan 2015 | Status: Trader | 5,146 Posts
- #8,347
- Jun 7, 2023 5:48pm Jun 7, 2023 5:48pm
- Joined Dec 2018 | Status: Trader | 4,607 Posts
{quote}
Lines and levels and "Zeppelins" - all grist to the mill
Hi turnip,
Hahaa cheers and yes those Zepps pop out right in front of us.
A great chart sir, it tells me you know what you are looking at for sure.
(Breaking All The Rules, BBC 69-71
)all the best pal
- #8,349
- Jun 7, 2023 9:11pm Jun 7, 2023 9:11pm
- Joined Aug 2007 | Status: Trader | 3,215 Posts
Hi All, Good start to the day. This one had so many confluences. After DO, Tokyo made its own High (PFH) and the price rejected RN, PMH, RN, WO. I waited for retest of the RN or structure break. It just retested the WO and broke the structure where i entered. Tokyo open was the target. Trade Well All. Note: Seems Tokyo has also set a new or its own LOW. {image}
Markets are Mirrors,,Mastery of craft is mastery of self
- #8,350
- Jun 7, 2023 10:58pm Jun 7, 2023 10:58pm
- Joined Aug 2007 | Status: Trader | 3,215 Posts
I'm a big believer in Classic chart patterns...have been using them a long time... I always enjoy this guy's charts and analysis... I actually posted a nice one of mine awhile back maybe March April of the GJ looking for a 1000 pip breakout... Will dig it up and the follow thruAnyways .... This fellow... Yuryi Matso.... https://twitter.com/yuriymatso/statu...318624768?s=20 And another guy Aksel Kibar (Tech charts) is just excellent... whom the legendary Peter Brandt raves about him Anyways just thought I would bring a...
On the radar for the last two weeks and the pattern has broke very close to where I had "anticipated" Playing both sides of the market currently.... Edit: Forgot to mention,,,Look how the pattern broke with 1 candle,,,same as we see happen over and over at levels etc no matter what the TF {image} {image}
This GJ trade was a great example of a classic pattern that faked out the longs with the false breaks on the lower TF's...As well how the Monthly Highs and lows are often set near the beginning of the month and the end of the month... I have gone over years of GJ charts noting what day of the month and day of the week sets the high and sets the low...And the numbers dont lie
Its easy to do just some elbow grease and time lol... I do all manually and enter in my notebooks...Anyways just thought I would share some charts and notes on the charts... Might be of interest to some... For many years all(mostly) I traded were stocks with EOD data .. No intraday trading until early 2000's when I first discovered Forex. I loved the 5m chart but found it difficult to trade early on..and so I traded the 4hr mostly... One day on Skype with George we delved into trading the Daily charts with entries on the 1min chart..and spent alot of time discussing that and studying the charts etc to make that work.. And this GJ Triangle Pattern is a good example of how this is possible...
Nothing new just good old charting skills ,PA/TA skills with some well rounded market mechanics knowledge and thats all
I think it was Whitesta who had asked or shown interest in the longer TF charts but how do you trade them without large risk...Well maybe this might shed some light
on one way it can be done. Find a pattern,,apply what you know and is discussed here etc...When the pattern starts to break start monitoring and looking for an entry..THe same Fakeouts happen on the large TFs ..everything is Fractal...so wait for a retracement and a Value entry with confluences etc...
Cheers Fellas
Blue
Markets are Mirrors,,Mastery of craft is mastery of self
- #8,351
- Jun 7, 2023 11:07pm Jun 7, 2023 11:07pm
- Joined Nov 2012 | Status: Naked Chart Samurai | 3,477 Posts
{quote} Original Post Mar 30 {quote} So Chart patterns...Classic old school never change patterns... A large percentage of patterns Fail just like Bo's do.........
Success = Practice + Patience + Persistence
- #8,353
- Jun 7, 2023 11:13pm Jun 7, 2023 11:13pm
- Joined Aug 2007 | Status: Trader | 3,215 Posts
While im at it heres one on my watchlist USDCAD
On the radar since Mid March..Lines havent changed 50% hasnt changed..
50% level is from H/L of pattern.
2 ways I draw my patterns and this all goes back 40+ yrs when I used to draw line charts on the graph paper
from the daily newspaper quotes. A simple line chart(close) and the candles...
Theres actually a pattern within a pattern ...Weekly and Daily...
Here they are..and lets see what unfolds and presents itself.
Cheers
Blue
(Notice yesterdays wick on the last chart Daily...) Gotta love patterns....
On the radar since Mid March..Lines havent changed 50% hasnt changed..
50% level is from H/L of pattern.
2 ways I draw my patterns and this all goes back 40+ yrs when I used to draw line charts on the graph paper
from the daily newspaper quotes. A simple line chart(close) and the candles...
Theres actually a pattern within a pattern ...Weekly and Daily...
Here they are..and lets see what unfolds and presents itself.
Cheers
Blue
(Notice yesterdays wick on the last chart Daily...) Gotta love patterns....
Markets are Mirrors,,Mastery of craft is mastery of self
- #8,354
- Jun 9, 2023 6:53pm Jun 9, 2023 6:53pm
- Joined Dec 2018 | Status: Trader | 4,607 Posts
Is the larger market looking at what traders are looking at
And where might the two meet up for a good cup of coffee
Each to their own, there is no just one way to trade our markets.
Trade safe, trade well all.
.
And where might the two meet up for a good cup of coffee
Each to their own, there is no just one way to trade our markets.
Trade safe, trade well all.
.
- #8,355
- Jun 9, 2023 8:14pm Jun 9, 2023 8:14pm
- Joined Mar 2023 | Status: Trader | 1,007 Posts
{quote} Excellent post, nicely annotated, and easy to understand.
without patience how can you be a trader?
- #8,356
- Edited 7:58am Jun 10, 2023 7:40am | Edited 7:58am
- Joined Aug 2006 | Status: Trader | 5,319 Posts
{quote} it could take years of chart study to learn what Bule just shared, thank you bule.
It never gets easier, you just get better
- #8,357
- Jun 10, 2023 7:45am Jun 10, 2023 7:45am
- Joined Mar 2023 | Status: Trader | 1,007 Posts
without patience how can you be a trader?
- #8,358
- Jun 10, 2023 8:08am Jun 10, 2023 8:08am
- Joined Aug 2006 | Status: Trader | 5,319 Posts
{quote} thank you!
It never gets easier, you just get better
- #8,359
- Jun 10, 2023 9:03am Jun 10, 2023 9:03am
- Joined Aug 2006 | Status: Trader | 5,319 Posts
It never gets easier, you just get better
- #8,360
- Jun 10, 2023 9:08am Jun 10, 2023 9:08am
- Joined Mar 2023 | Status: Trader | 1,007 Posts
without patience how can you be a trader?