reverse pattern.
but let's see where's the brake
what do u say?
Might consider that the main long-term trend is up.Hard to see any upside trend on 4h chart but possible scenario;
Measure twice, cut once
Drawing correct resistance and support-lines
- #1,081
- Edited 6:22am Apr 3, 2008 6:02am | Edited 6:22am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Might consider that the main long-term trend is up.Hard to see any upside trend on 4h chart but possible scenario;
- #1,083
- Edited 6:54am Apr 3, 2008 6:35am | Edited 6:54am
that's why i make my analize on biger tf and search for enter on smaller.
menage to catch it..
now another hard part.. the tp
around 0.9090 could be a good one (above the line and 61.8)
i am out @ 0.9102 (got my 500 for today)
http://img260.imageshack.us/img260/8...3042007zl7.gif
menage to catch it..
now another hard part.. the tp
around 0.9090 could be a good one (above the line and 61.8)
i am out @ 0.9102 (got my 500 for today)
http://img260.imageshack.us/img260/8...3042007zl7.gif
- #1,084
- Apr 3, 2008 6:53am Apr 3, 2008 6:53am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
that's why i make my analize on biger tf and search for enter on smaller.
menage to catch it..
now another hard part.. the tp
around 0.9090 could be a good one (above the line and 61.8)
i am out @ 0.9102 (got my 500 for today)
What did you trade ? Descending triangle our your reversal pattern ?
Measure twice, cut once
- #1,086
- Apr 3, 2008 8:01am Apr 3, 2008 8:01am
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
Seems it's a breakout day today...
G/U , G/J , U/C, U/J , E/U & Now AUD/USD...
All Are successive Breakout's........
good job umairs! bdw, ive question...
1) you enter for the successful breakout and how long usually youll be in market? it seems like you are taking quick position to exit.. i think its great but you dont ride for the pips if theres possible?
explanation with charts should be great...
cheers!
- #1,087
- Apr 3, 2008 9:32am Apr 3, 2008 9:32am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
good job umairs! bdw, ive question...
1) you enter for the successful breakout and how long usually youll be in market? it seems like you are taking quick position to exit.. i think its great but you dont ride for the pips if theres possible?
explanation with charts should be great...
cheers!
...
- #1,088
- Apr 3, 2008 9:40am Apr 3, 2008 9:40am
this is a little late..............
eur/gbp just had broken down from an up trendline............might be breaking the resistance turned support at around 0.7815...............
i think this pair might be a good bet for some good profits, it's gone up too much and high time for a downward move........
very slow-moving though.............
:
eur/gbp just had broken down from an up trendline............might be breaking the resistance turned support at around 0.7815...............
i think this pair might be a good bet for some good profits, it's gone up too much and high time for a downward move........
very slow-moving though.............
:
- #1,089
- Apr 3, 2008 10:45am Apr 3, 2008 10:45am
http://www.forexfactory.com/showpost...postcount=1048
first target is reached..
but long way.. let's see..
we should see something like a reversal pattern forming then shall we have the next target..
first target is reached..
but long way.. let's see..
we should see something like a reversal pattern forming then shall we have the next target..
- #1,090
- Apr 3, 2008 12:28pm Apr 3, 2008 12:28pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
Im trading with some rules and regulations and Im very much strick to them...Im with both mini & standard accounts... & Trades daily on mini and trades only on My standard account when im sure about my victory and targets +30 Pip's otherwise just target +10/30 Pips in mini as i trades on mini daily...& I like to take advantage of all kind of breakouts even just for +10 Pips also... Being a daytrader i hardly hang my positions into next day and avoide to enter in a cricital news timing coz my SL is just -30 In non Jpys & -40 In jpys related pair's....& about exiting point of view then i got some exiting problem in past as i just target +30 Pips but Market moves more than that even more than +100 Pips but still i target for just +30 Pips and i believe im now successfull Because im strick to my rules even lot of times im sure about market to move more than +30 even +100 Pips like i have said in my tomorrow post about G/U Breakup that if it successfully manage to break than more than +100 pips move will be there and it also happened later on but even inthese cases i targets for just +30 Pips on standard. As i said i trade on mini daily for 10/30 Pips depends on breakout condition & dont do more than a single successfull trade in a day and in my remaining time i do practice hard on demo and observe the market but on standard i do 7/10 trades in a 22-Trading days of month targeting +30 Pip's with 1/3 Standard lot's. I dont hesitate to trade on any pair anytime accept closing session coz i believe on myself and experience...Forex is my part-time business ...But still at the end from last 2/3 years i manage to lock green pip's... reason is my rules and experience...
seeing many of your charts sometimes shown that it was a simple breakout but u still go for that even it wasnt on the suppose direction on the market situation on that time but u still manage to lock few pips.. so nice..
its true trading is based on people personality but your discipline is leading you to more success... well done!
- #1,091
- Apr 3, 2008 1:00pm Apr 3, 2008 1:00pm
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
thank you for the explanation... its really inspiring and now i know the key or ur success... you are not greedy with pips but you consistently targeting the reasonable pips and that bring to your success..
seeing many of your charts sometimes shown that it was a simple breakout but u still go for that even it wasnt on the suppose direction on the market situation on that time but u still manage to lock few pips.. so nice..
its true trading is based on people personality but your discipline is leading you to more success... well done!
Nd GoodLuck 2u2....
- #1,092
- Apr 3, 2008 1:06pm Apr 3, 2008 1:06pm
- Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts
that's why i make my analize on biger tf and search for enter on smaller.
menage to catch it..
now another hard part.. the tp
around 0.9090 could be a good one (above the line and 61.8)
i am out @ 0.9102 (got my 500 for today)
just a qn on ur SL. Do you discreetly manage ur trades or let the SL do its work? coz it does seems quite far and market might have done a few swings before it gets there. Or is that SL an insurance for absolute diasater, u know just in case? im interested to know coz ur entries are made on the 5mins.
And are entries made directly after a TL is broken? i.e. the arrow i indicated.
best regards
jest
- #1,095
- Apr 3, 2008 6:30pm Apr 3, 2008 6:30pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #1,097
- Apr 4, 2008 2:50am Apr 4, 2008 2:50am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
Im waiting & looking forward for Usd/Chf Breakdown & Nzd/Usd Breakup...lets see...
... - #1,098
- Apr 4, 2008 3:14am Apr 4, 2008 3:14am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
See the screenshot of Usd/Chf Break down for +40 Pip's & Nzd/Usd breakup for +35 Pip's... Hope so More are expected...But I was keeping an eye on both these pair's and both successfully managed to breakout...
This is a good week for me... Hope so for you all......
This is a good week for me... Hope so for you all...
...
- #1,099
- Apr 4, 2008 3:49am Apr 4, 2008 3:49am
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
See the screenshot of Usd/Chf Break down for +40 Pip's & Nzd/Usd breakup for +35 Pip's... Hope so More are expected...But I was keeping an eye on both these pair's and both successfully managed to breakout...
This is a good week for me... Hope so for you all...
nice found out umairs! seems u go for any breakouts in any pairs! u didnt consider about the large pip spreads for certain pairs?
- #1,100
- Apr 4, 2008 3:58am Apr 4, 2008 3:58am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
nice found out umairs! seems u go for any breakouts in any pairs! u didnt consider about the large pip spreads for certain pairs?
I can go for any pair with any spread but my entry is based on 30-Minutes chart... when i see that breakout is going to trigged in 30-Minutes chart then i see 4-Hour chart that whts going on their... trend is in my favour or not... if trend is in my favour then i enter through 30-minutes chart and easily locked good pip's...
Happy Weekend John & All ...
...