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Charts Observations

  • #61
  • Aug 2, 2007 4:18pm Aug 2, 2007 4:18pm
Quoting benssol
we used to scan the charts and look for any formation, price action, trend breaking , ....etc

and because everyone can see the chart from a different view so I see we can contribute here and post our observations

I used to do this alone and write notes in my notebook and I think every trader do that so why we cant do it here to build a major long/short term view !!

I will begin and please correct me if I'm wrong in anything

so please contribute and post your view , I wont do this alone and will return to my notebook again
Great Idea I use the 5,13 and 62 expodential ma's along with the MACD, When the Histagram crosses zero line plus the trigger line crossing and the the 5,13 cross all at about the same time this is my trigger. Up or down when all three agree it's trade time if the 5,13 are to late it's close time and wait for the next good 5,13 with macd. Check this out
  • #62
  • Aug 4, 2007 10:44am Aug 4, 2007 10:44am
Quoting hollyjoe
Great Idea I use the 5,13 and 62 expodential ma's along with the MACD, When the Histagram crosses zero line plus the trigger line crossing and the the 5,13 cross all at about the same time this is my trigger. Up or down when all three agree it's trade time if the 5,13 are to late it's close time and wait for the next good 5,13 with macd. Check this out
good hollyjoe
I read about this here in FF and at Rob site
great system if it work with you

but we don't speak about systems here we speak about patterns, setups appears on the charts
so if you recognize a famous pattern, a something you noticed repeatedly, price action setup in the recent charts, just tell the others here and post your chart, this helps to make a good decision
  • #63
  • Aug 4, 2007 10:50am Aug 4, 2007 10:50am
another setup that I used alot is the intersection between two wide range bars
I used this setup last Friday to short GJ at very good price

and if you don't know this setup,
if there is two wide range bars in the same direction, then the area of the intersection between them acts as support/resistance and can be used in entry/exit

I know this is not a pattern that we wait it's completion/breakout/failure but I post it as a reference to myself and others whose don't know it

here is the chart
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  • #64
  • Aug 4, 2007 11:00am Aug 4, 2007 11:00am
another pattern we can wait for

a triangle, I cant remember what they name it in the books
but this triangle wait a breakout
and usually the breakout is in the direction of the entry to this triangle
so more drop expected but again the market has the last word

where are the charts' scanners??

G/J Chart
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  • #65
  • Aug 13, 2007 2:51pm Aug 13, 2007 2:51pm
AUD/USD monthly Pin Bar has now triggered off my short trade...
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  • #66
  • Aug 15, 2007 5:55pm Aug 15, 2007 5:55pm
AUD/USD has dropped like a rock in the last few days... my short trade from the monthly pin bar on this pair is now up 290 pips !!! About to hit my first profit target at 8160
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  • #67
  • Aug 15, 2007 5:57pm Aug 15, 2007 5:57pm
Super high gas prices this year have failed to materialize and I belive that is main cause of USD/CAD turning to the upside... USD/CAD now taking aim at 150 ema on daily charts... pondering a trade on this .......
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  • #68
  • Aug 15, 2007 6:06pm Aug 15, 2007 6:06pm
Hourly Dollar/Yen
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  • #69
  • Aug 15, 2007 10:59pm Aug 15, 2007 10:59pm
Quoting benssol
Now another pair

Chart 1

-a trendline breached and first target is the next uptrend line aprox @ 115.85 area

Attachment
Target reached but shorts still running looking for breaking the last TL (greeeed)
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  • #70
  • Aug 18, 2007 6:26pm Aug 18, 2007 6:26pm
A good time to go long here on first bull candle when price come up out of oversold. Target is red ema ( 62 ) Second target white sma ( 200 ). Also notice the 4 hr Pin Bar that has already kicked in for a LONG.
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  • #71
  • Sep 1, 2007 7:39pm Sep 1, 2007 7:39pm
the bearish divergence on monthly, weekly still

the price resting at the median line of the old red PF
another possible rising PF (the blue) with possible reversal at it's median line
good levels at 264, 335, 380

bearish divergence on daily/4H

but again the market will sign
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  • #72
  • Sep 1, 2007 7:58pm Sep 1, 2007 7:58pm
another view on cable

if and only if we consider this a flag, then it's means a continuation to the prior fall :surprised
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  • #73
  • Edited 9:10pm Sep 1, 2007 7:59pm | Edited 9:10pm
Hi. I was fiddling around with a weekly gbpjpy chart this morning and saw this chart pattern from 1998- the huge carry unwind. I overlayed the current g/y chart and it made a very interesting picture.

Alignment was retained at price level. In order to align the peaks I skewed the '98 chart forward (green and yellow dotted vertical lines mark the date alignment)- we are only "behind" by 28 calendar days.
Attached Image (click to enlarge)
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Is your SL my TP?
  • #74
  • Sep 1, 2007 8:10pm Sep 1, 2007 8:10pm
Quoting kenmania
Hi. I was fiddling around with a weekly gbpjpy chart this morning and saw this chart pattern from 1998- the huge carry unwind. I overlayed the current g/y chart and it made a very interesting picture.

Alignment was retained at price level. In order to align the peaks I skewed the '98 chart forward (green and yellow vertical bars mark the date alignment)- we are only "ahead" by 28 calendar days.
what a chart!!!
thank you my friend

and they say price moves randomly!!!!!
it's a copy and past!!

thanks again kenmania, greatly appreciated
  • #75
  • Sep 1, 2007 8:47pm Sep 1, 2007 8:47pm
You're welcome.

I haven't observed historical info like this enough to know how much confidence can be put into it, but it's sure something I'm keeping in mind in the coming weeks of trading.
Is your SL my TP?
  • #76
  • Edited 1:58am Sep 2, 2007 1:46am | Edited 1:58am
nice thread. good to see charts not dominated by indicators. keep it up

g

actually, have a look at these 2 USDJPY charts......weekly expanding wedge, 1 with candles another with closes only.....nice pullback to bottom trendline of wedge....kind of makes me think where to go next
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With a break always expect a pullback, otherwise, you're dead meat/
  • #77
  • Sep 21, 2007 12:36pm Sep 21, 2007 12:36pm
Quoting benssol
if you dont trade this pair, I wish you take a look at it

Daily Chart carry a possible killer trade

I closed my short early this week but I will look for another entry

a possible target is the confluence of the two PFs, and it highlighted on the chart
long term trade closed today with +940 pips for the first lot only
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  • #78
  • Sep 21, 2007 1:34pm Sep 21, 2007 1:34pm
Quoting benssol
long term trade closed today with +940 pips for the first lot only
Nice.

And I thought I was the only crazy one looking for 2.33

Currently appears to be retracing...back to 2.3750 perhaps?

For a nice new short entry? Hmmm will look for PA...what was your setup for the original 950 pip short?

Looks pitchforky..

I've begun drawing charts looking very similiar to your GBPCHF one ironically enough....the power of parallels is interesting indeed
Trust price. Know yourself.
  • #79
  • Sep 21, 2007 4:20pm Sep 21, 2007 4:20pm
Quoting SeekingLight
Nice.

And I thought I was the only crazy one looking for 2.33

Currently appears to be retracing...back to 2.3750 perhaps?

For a nice new short entry? Hmmm will look for PA...what was your setup for the original 950 pip short?

Looks pitchforky..

I've begun drawing charts looking very similiar to your GBPCHF one ironically enough....the power of parallels is interesting indeed
Hi SL
my setup for the first entry is a 123, and I enetered at 4485 when the retrace of 3 is over

as you said the power of parallels is interesting indeed

Do you remember the EG posts (the early posts in this thread), do you still have the long position??

and now what you think
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  • #80
  • Sep 21, 2007 6:45pm Sep 21, 2007 6:45pm
Quoting benssol
Hi SL
my setup for the first entry is a 123, and I enetered at 4485 when the retrace of 3 is over

as you said the power of parallels is interesting indeed

Do you remember the EG posts (the early posts in this thread), do you still have the long position??

and now what you think
LOL omg yes I did post that, didn't I...no, I didn't keep it, left it pretty swiftly...took and closed a long for around +103 somewhere last week or before however..same starting point from around the 06700/0.6800s...scalped another 10-30 every other day since, mostly on retraces, trying to reach new highs, was shooting for .07000 which we then hit...am currently in a short that's showing the same amount again since 0.7005 was rejected as I was expecting(projection)...might only be a bit sideways before a continuation however, so stop is at b/e and looking to perhaps rebuy or something...it's just a hobby pair for me, stake is always small (0.1-0.2% tops) and it's mostly because it suddenly became so nice to chart using weekly / monthly...

My, that IS a rather nice chart I posted here, too, isn't it....wonder if I can still find the template / whether I saved it...would be so funny it it all came true, wouldn't it

I don't take myself serious most the time, but oddly enough my charts sometimes seem to...scoundrels they are!

I'm amazed how every time I look at a blank chart anew I can draw it you completely differently sometimes...I just recently made a weekly and monthly one and it's nothing like this one...well except for s/r, but the trendlines...hmmm...wow...hehe...really nice...


Would you care to elaborate on the GBPCHF setup though along with some reasoning? i.e. setup and entry criteria, minimum target, etc...I'm always curious...
Ok, 2 am here, hence my rambling, time for bed...n8n8
Trust price. Know yourself.
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