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Support and Resistance, Swing / Long term trading

  • #121
  • Dec 10, 2023 5:18pm Dec 10, 2023 5:18pm
Quoting TheCardinal
{quote} So, the week closed with a Bearish Engulfing. Historically, the move was sustained more often than not the following next week/weeks. I will try to get my Stop to BE sunday night as soon as possible and if it gaps down a little, I will wait for the spreads to return to normal and close it. {image}
Stop moved to BE
  • #122
  • Dec 10, 2023 10:01pm Dec 10, 2023 10:01pm
Quoting TheCardinal
{quote} Stop moved to BE
We are out at BE. The downtrend is still on play until proven otherwise
  • #123
  • Dec 10, 2023 10:38pm Dec 10, 2023 10:38pm
This is a very nice thread. I trade in a very similar way. How is it working out for you? Is it going OK?
Emotional Control. Process, not outcome.
  • #125
  • Dec 11, 2023 8:29am Dec 11, 2023 8:29am
Quoting Konichiwhaat
This is a very nice thread. I trade in a very similar way. How is it working out for you? Is it going OK?
Thanks Konichiwhaat, it is a very quiet and private thread so far. You are welcome to join in and share your charts and ideas

As for my "results" if you read the first post of this thread, I explain a little bit where im at. Im slighly profitable so far and I've missed the 2 biggest trades of the year, one of them by 1 pip lol and the other was gold by 3 pips or so. The way I trail my stop, both of them would be huge in profits right now, but thats part of the game. Anyway. This is where im at.
  • #126
  • Dec 11, 2023 2:08pm Dec 11, 2023 2:08pm
Quoting MichaelDylan
Extremely useful market strength indicator {file} {file} {image} {image}
this will get removed as soon as the mods get the report
  • #127
  • Edited 12:43pm Dec 13, 2023 11:52am | Edited 12:43pm
Quoting TheCardinal
My 2 runners still running. I will take more partials at these targets. No trailing stop for now. All called in advance{image} {image}
Alright ladies and gentlemen, I am still in both of these trades, both stops moved to BE a while ago, partials have been taken on both trades and I even took more out on the EURCHF that reached my second level of profits. Everything was called live.

No trailing stop just yet (Im planning on in if we move further down). Right now, Im looking to add to my position. Unfortunately, I have nothing to rely on for EURGBP. BUT I have something of interest on EURCHF.

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I will be looking at PA around the blue box. Note that the green box is the ALL time low of the pair and we reacted from it so I will proceed with caution.

Not a lot of movement in the market this week on my side of things.
  • #128
  • Dec 13, 2023 11:54am Dec 13, 2023 11:54am
Quoting TheCardinal
{quote} GBPCHF, Pending order: {image} See "quoted" post for more details as to why I placed a pending from the Monthly and Weekly perspective
For transparency purposes, I am deleting this pending order. I will RE-establish it if price moves up in a "normal fashion". I dont want to be caught up in a covid-like move (black swan event).
  • #130
  • Dec 13, 2023 6:04pm Dec 13, 2023 6:04pm
Quoting Pipchaser45
Butterfly with extended wings appeared showing unbalance in trend and direction trend size also show its a volume that impacts. confirmed by fractal at lower timeframe set the median . After the butterfly i usually split the triangle and look at the halfes sizes to wich one covers more area and is dominant.. The triangle is telling me the direction and extension. So in practic the lower timeframe is considered a channel break even though not visible. Extended gartley shapes up ofcourse it will repaint but it shows extension is slowing down. Awaiting...
Sorry Pipchaser45,

But you post doesnt respect the thread rules.

1. You have way too many things going on here with indicators and the patterns we cant even see price action.
2. Timeframes arent illustrated so we dont know if this is m15 or Daily.

For these reasons, I removed your post but you are free to post again following the thread rules.
  • #131
  • Dec 13, 2023 6:09pm Dec 13, 2023 6:09pm
Black is daily. Blue is 4 hour . White is 1 hour. Many things for you not for me. Well if you dont understand it no problem be that way. Its wery democratic to judge before isnt it. Proves this forum for me . Sayonara then.
  • #132
  • Dec 13, 2023 6:14pm Dec 13, 2023 6:14pm
Quoting Pipchaser45
Black is daily. Blue is 4 hour . White is 1 hour. Many things for you not for me. Well if you dont understand it no problem be that way. Its wery democratic to judge before isnt it. Proves this forum for me . Sayonara then.
I didnt understand everything you just said, but the rules are highlighted in the very first post of this thread. Here is a copy paste:

1. Respect first and foremost.
2. The charts have to be higher time frame (H1 and above). If you trade M15 or m5, great for you, but this is not the thread to share your charts.
3. Charts have to be clean. We must see price action. A cluttered chart filled with lines and indicators will be removed.

1. I couldnt have known your charts were Daily, H4 an d H1 because it wasnt written anywhere...
2. Rule #3 was broken.

Im not saying the way you trade is wrong or bad, im saying that this thread is specifically for people who trade PA and we must see PA in order to trade it. Makes sense right? You may feel this was uncalled for, but Im pretty sure most people would agree those charts werent "clean". We literally couldnt see anything
  • #133
  • Dec 13, 2023 10:22pm Dec 13, 2023 10:22pm
GBPAUD & EURAUD looking similar.

I will trade them if the weekly closes below their respective level, but the official trend change will happen when the Monthly closes below the level. Here is GA as an example of what im looking at

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  • #134
  • Dec 14, 2023 9:36am Dec 14, 2023 9:36am
Quoting TheCardinal
{quote} Alright ladies and gentlemen, I am still in both of these trades, both stops moved to BE a while ago, partials have been taken on both trades and I even took more out on the EURCHF that reached my second level of profits. Everything was called live. No trailing stop just yet (Im planning on in if we move further down). Right now, Im looking to add to my position. Unfortunately, I have nothing to rely on for EURGBP. BUT I have something of interest on EURCHF. {image} I will be looking at PA around the blue box. Note that the green box is...
I will add if this H4 candles closes as a PB (one of my signal).

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Gosh I hate H4, so much noise and so messy.
  • #135
  • Dec 14, 2023 9:40am Dec 14, 2023 9:40am
Quoting TheCardinal
GBPAUD & EURAUD looking similar. I will trade them if the weekly closes below their respective level, but the official trend change will happen when the Monthly closes below the level. Here is GA as an example of what im looking at {image} {image}
And this is why you wait for Candle closure before making a decision

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  • #136
  • Dec 14, 2023 2:44pm Dec 14, 2023 2:44pm
Quoting TheCardinal
{quote} And this is why you wait for Candle closure before making a decision {image}
No added position so far. The candle closed more as a doji than a PB. Still on the sideline for now
  • #137
  • Dec 14, 2023 8:38pm Dec 14, 2023 8:38pm
AUDUSD, AUDCAD, NZDCAD, NZDUSD all look the same on the structure side of things.

Monthly & Weekly are in divergence.

Monthly is still showing bearishness while weekly is now showing bullishness. The only difference between AUDUSD NZDUSD & AUDCAD NZDCAD is there the CAD pairs are at a monthly/weekly resistance while the USD pair arent.

Here is AUDCAD as an example, but NZDCAD is looking exactly the same (and AUDUSD & NZDUSD from a structure standpoint minus the resistance)

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Unfortunately, both our EURUSD long at 1.0515 and our AUDUSD long at 0.6530 got stopped out BE. Maybe I should look at little bit more into my "moving my stop to BE rule" ...
  • #138
  • Dec 14, 2023 10:39pm Dec 14, 2023 10:39pm
I just took a long on CADJPY

Monthly: Obvious uptrend

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Weekly: Uptrend and we got a pullback to a weekly support

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Daily: Signal = PB

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I doubt the BOJ will change its monetary policy Monday night. If they do, it will probably be in 2024, so I will take my chances with the long side even though we might be over extended and due for a trend change/reversal, that, you can never know. Im going with the flow
  • #139
  • Dec 15, 2023 10:14pm Dec 15, 2023 10:14pm
XTIUSD (oil) Interesting chart

Monthly:

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It doesnt seem like PA reached our desired zone right? Well, look again, but on the Weekly.

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It does seem like the Weekly reached all those wicks in the blue box and price printed a Weekly Bullish PB.
  • #140
  • Dec 17, 2023 10:15am Dec 17, 2023 10:15am
Quoting TheCardinal
XTIUSD (oil) Interesting chart Monthly: {image} It doesnt seem like PA reached our desired zone right? Well, look again, but on the Weekly. {image} It does seem like the Weekly reached all those wicks in the blue box and price printed a Weekly Bullish PB.
Here is the plan for Oil: Pending order at 61% retracement with a stop below the wicks to the left

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If you also go down to the Daily, we can see that Weekly Bullish PB made a CooF set up (change of order flow)

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