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Technical Analysis and a few charts to ponder

  • #121
  • Dec 6, 2006 11:10pm Dec 6, 2006 11:10pm
Better view of GBP.
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  • #122
  • Dec 7, 2006 7:10am Dec 7, 2006 7:10am
.
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Profit is where readiness meets Opportunity
  • #123
  • Dec 7, 2006 1:02pm Dec 7, 2006 1:02pm
Hi, I just wanted to say that I'm following this thread with great interest.

I have started getting interestied in forex about 6 months ago and after trying many systems and methods... and getting wrong finally, I'm now looking more to trade on price action and support/resistance level which make more sense to me than following lagging indicators...

Thanks for sharing all these valuable informations !
  • #124
  • Dec 9, 2006 8:48am Dec 9, 2006 8:48am
Friday's non-farm payroll action was wild and wooly for the dollar but somehow this USD/JPY straight technical play managed to survive.

Here are the charts that show how it played out and where it is now.
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Profit is where readiness meets Opportunity
  • #125
  • Dec 9, 2006 8:51am Dec 9, 2006 8:51am
Here are some notes on the strategy:
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Profit is where readiness meets Opportunity
  • #126
  • Dec 9, 2006 8:52am Dec 9, 2006 8:52am
Where from here?
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Profit is where readiness meets Opportunity
  • #127
  • Dec 10, 2006 3:26pm Dec 10, 2006 3:26pm
EUR is breaking down going into Asia opening.
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  • #128
  • Dec 10, 2006 3:29pm Dec 10, 2006 3:29pm
EURCAD looks like it wants to follow.
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  • #129
  • Dec 11, 2006 11:25am Dec 11, 2006 11:25am
How is this for technical behavior?
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Profit is where readiness meets Opportunity
  • #130
  • Dec 20, 2006 1:31am Dec 20, 2006 1:31am
Quoting FXopportunist
How is this for technical behavior?
I like what your doing here. I've been following SRDC 1 and 2 method and he and you are on the same page.

A
  • #131
  • Jan 12, 2007 5:16pm Jan 12, 2007 5:16pm
Here is some shots of the euro in a 1 hr technical channel. It seems like nobody wants to talk about the euro anymore. Every body loves the Pound.
I will offer this. The GBP/USD mostly follows the EUR/USD tech and the Euro tech is often clearer than the pound picture. So many pound traders might do well to know what their sweatheart pounds less attractive sister thinks, cuz she has some influence............
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Profit is where readiness meets Opportunity
  • #132
  • Jan 12, 2007 5:21pm Jan 12, 2007 5:21pm
Here is a closer picture of the Euro channel with a support line drawn under the candles.
With the strong rejection of the bottom of the channel on retail sales I beleive we will make the top of the channel.
Like many people I find myself wishing I had held my pound long from this mornings reversal.
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Profit is where readiness meets Opportunity
  • #133
  • Jan 12, 2007 6:19pm Jan 12, 2007 6:19pm
Quoting FXopportunist
Here is a closer picture of the Euro channel with a support line drawn under the candles.
With the strong rejection of the bottom of the channel on retail sales I beleive we will make the top of the channel.
Like many people I find myself wishing I had held my pound long from this mornings reversal.
Hey,

Nice going. Do you draw your channels manually or use a MT channel such as LRC or Fib?

AlexFX
  • #134
  • Jan 14, 2007 3:51pm Jan 14, 2007 3:51pm
Quoting AlexFX
Hey,

Nice going. Do you draw your channels manually or use a MT channel such as LRC or Fib?

AlexFX
Hello Alex,
All channels are manually drawn. Near the beginning of the thread are posts that describe the process and its evolution.

FXO
Profit is where readiness meets Opportunity
  • #135
  • Jan 15, 2007 6:33am Jan 15, 2007 6:33am
Here is an update of our euro channel as it continues its technical behavior.

What happens now that we are at the top of the channel?
The standard play here is to short the euro and reverse to a long position if it breaks out.
There are a few things to consider such as this week's upcoming data and the fact that it is a holiday. But, form a purely technical perspective, that is the play.
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Profit is where readiness meets Opportunity
  • #136
  • Jan 16, 2007 5:08am Jan 16, 2007 5:08am
The euro broke our channel. This is an exciting invitation for a swing long. Unfortunately I was sleeping when it happened so I am left looking for a good pull back entry for myself. We will see how the empire index affects the market in the u.s. session.
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Profit is where readiness meets Opportunity
  • #137
  • Jan 16, 2007 11:15am Jan 16, 2007 11:15am
Great initial break of the channel gave it all back quickly on some odd price action before the empire state news realease.

The current price action leaves me looking for a new setup. It is possible that the market will remain in this range until some good direction is given form the CPI.
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Profit is where readiness meets Opportunity
  • #138
  • Jan 16, 2007 5:30pm Jan 16, 2007 5:30pm
hi fxopportunitist,

is the chart above a 1 hour or 4 hour chart?

i did look into my MT4 and seems that the pattern is different

thanks

pls keep posting;i like the way you trade
  • #139
  • Jan 16, 2007 5:38pm Jan 16, 2007 5:38pm
that is a 1 hour chart hanz
Profit is where readiness meets Opportunity
  • #140
  • Jan 16, 2007 6:35pm Jan 16, 2007 6:35pm
Here is an interesting pound short set up.
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Profit is where readiness meets Opportunity
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