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CHART Reading for serious traders

  • #161
  • Oct 25, 2007 1:35pm Oct 25, 2007 1:35pm
another attack on the same support, hope it will be strong enough to penetrate the 233.2sh ...
  • #162
  • Oct 25, 2007 1:37pm Oct 25, 2007 1:37pm
I think it will reverse to the upside from here IMO, we've touch 88.6% fibo twice.
Trade what you see, not what you think.
  • #163
  • Oct 25, 2007 1:41pm Oct 25, 2007 1:41pm
Quoting karmostaji
I think it will reverse to the upside from here IMO, we've touch 88.6% fibo twice.
thanks Karmo... you unintentionally confirmed the correctness of my chart , I should be proud that my chart has some similarity with yours
  • #164
  • Oct 25, 2007 2:49pm Oct 25, 2007 2:49pm
this pair doesnt want to give up that rt shoulder we have been playing for a few days now. It bounced off it again so I am long with a stop just below 233.15.Dow is perking up just before close too. May be a little more risky trade.
  • #165
  • Oct 25, 2007 2:54pm Oct 25, 2007 2:54pm
Quoting PipChick
this pair doesnt want to give up that rt shoulder we have been playing for a few days now. It bounced off it again so I am long with a stop just below 233.15.Dow is perking up just before close too. May be a little more risky trade.
Target 235.13. Trade at your own risk and dont forget the daily chart.
  • #166
  • Oct 25, 2007 2:59pm Oct 25, 2007 2:59pm
If you have traded today and have made profits...trade lighter for the rest of the day just in case your trade goes against you . You wont be giving up all of your daily profits. Just remembering the mistakes I made as a noob.
  • #167
  • Oct 25, 2007 3:04pm Oct 25, 2007 3:04pm
Quoting PipChick
If you have traded today and have made profits...trade lighter for the rest of the day just in case your trade goes against you . You wont be giving up all of your daily profits. Just remembering the mistakes I made as a noob.
Thank you pipchick for all the help for the noobs. You are appreciated and you are making my chart reading better. I am now looking for H&S and seeing them.
  • #168
  • Oct 25, 2007 4:11pm Oct 25, 2007 4:11pm
Coming up on some strong resistance so I will lock in a little profit and leave the rest run.
  • #169
  • Oct 25, 2007 4:12pm Oct 25, 2007 4:12pm
Quoting nikkipip4
Thank you pipchick for all the help for the noobs. You are appreciated and you are making my chart reading better. I am now looking for H&S and seeing them.
My pleasure Nikkipip
  • #170
  • Oct 25, 2007 4:13pm Oct 25, 2007 4:13pm
This is a 30 min chart trendline breaks ( my favourite one ). As you see, there are several opportunities to trade. Also, please take market sentiment into the consideration as well before placing a trade. This will increase the probability of winning. Please see chart, I went long just before the trend line breaks (downward trendline) and slow stochs indicates oversold plus today's market sentiment is positive on this pair which is good for long
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  • #171
  • Oct 25, 2007 4:15pm Oct 25, 2007 4:15pm
Quoting mktjong
This is a 30 min chart trendline breaks ( my favourite one ). As you see, there are several opportunities to trade. Also, please take market sentiment into the consideration as well before placing a trade. This will increase the probability of winning. Please see chart, I went long just before the trend line breaks and slow stochs indicates oversold plus today's market sentiment is positive on this pair which is good for long
I keep close tabs on the fundi's but I have a lot to learn. Maybe you could keep us updated on that Mktjong.It plays such a huge part in trading.
  • #172
  • Oct 25, 2007 4:22pm Oct 25, 2007 4:22pm
Quoting PipChick
I keep close tabs on the fundi's but I have a lot to learn. Maybe you could keep us updated on that Mktjong.It plays such a huge part in trading.
I will try but due to my busyness of day work. I hardly can keep up with the thread here and there which sometimes consume a lot of times
Sometimes my trade bias is based on many considerations not purely technical either. That's why I am wacthing your strategy and others at the same time
  • #173
  • Oct 25, 2007 4:25pm Oct 25, 2007 4:25pm
Quoting mktjong
I will try but due to my busyness of day work. I hardly can keep up with the thread here and there which sometimes consume a lot of times
Sometimes my trade bias is based on many considerations not purely technical either. That's why I am wacthing your strategy and others at the same time
We will settle for whenever you can fit us in...
  • #174
  • Oct 25, 2007 4:29pm Oct 25, 2007 4:29pm
Quoting PipChick
We will settle for whenever you can fit us in...
Thank you very much http://www.forexfactory.com/images/icons/icon10.gif
I see you are an experienced trader and your strategy is highly profitable .. am watching and learning at the same time
  • #175
  • Oct 25, 2007 5:50pm Oct 25, 2007 5:50pm
I locked in profits earlier (scaled out) so now I will move stop to break even before the news. JPY Core CPI
  • #176
  • Oct 25, 2007 7:01pm Oct 25, 2007 7:01pm
Quoting PipChick
I locked in profits earlier (scaled out) so now I will move stop to break even before the news. JPY Core CPI
What's your interpretation now? Are longs still safe?
Thanks
  • #177
  • Oct 25, 2007 7:51pm Oct 25, 2007 7:51pm
Quoting RVD
What's your interpretation now? Are longs still safe?
Thanks
Sorry, was AFK. My stop was hit but profits were protected. need to look at the charts.

Edit: Things are looking up but the daily chart is being a little stubborn. The 15, 30 and 1 hr look long.

Edit: So if you enter long be cautious of the daily but the possibilities are good.
  • #178
  • Oct 25, 2007 7:59pm Oct 25, 2007 7:59pm
  • #179
  • Oct 25, 2007 8:01pm Oct 25, 2007 8:01pm

The Nikkei seems to be supporting it.
  • #180
  • Oct 25, 2007 8:07pm Oct 25, 2007 8:07pm
234.53-234.58 will be a little tough to get thru
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