That was an excellent way to finish this day. See you guys tomorrow 
Measure twice, cut once
Drawing correct resistance and support-lines
- #1,242
- Apr 9, 2008 12:10pm Apr 9, 2008 12:10pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
1 last chart 
Measure twice, cut once
- #1,246
- Apr 10, 2008 2:01am Apr 10, 2008 2:01am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #1,247
- Apr 10, 2008 2:10am Apr 10, 2008 2:10am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #1,249
- Apr 10, 2008 3:33am Apr 10, 2008 3:33am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #1,251
- Apr 10, 2008 4:35am Apr 10, 2008 4:35am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #1,252
- Apr 10, 2008 4:51am Apr 10, 2008 4:51am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Hi aediaz1,
seems like your "chart school" is doing well....
Can I offer my unorthordox charts here ? hehe
seems like your "chart school" is doing well....
Can I offer my unorthordox charts here ? hehe
- #1,253
- Apr 10, 2008 4:53am Apr 10, 2008 4:53am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Hi aediaz1,
seems like your "chart school" is doing well....
Can I offer my unorthordox charts here ? hehe
Attachment
Your charts is always welcome in here, you know that lol.
Great pattern on your chart, btw.
Measure twice, cut once
- #1,254
- Apr 10, 2008 5:04am Apr 10, 2008 5:04am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Oh yeah...apologies for my absence
More chart examples with "live" analysis on the way...
More chart examples with "live" analysis on the way...
- #1,255
- Apr 10, 2008 5:14am Apr 10, 2008 5:14am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Oh yeah...apologies for my absence
More chart examples with "live" analysis on the way...
Attachment
Have missed some great eur/usd trades this week which happend middle of the night over here. Great trade !
Measure twice, cut once
- #1,256
- Apr 10, 2008 5:18am Apr 10, 2008 5:18am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
But before that....to share with the newer participants heres my method....again hehe
In order to play effectively, you need to know the limitations of price movements. Meaning they are able to move only a certain range daily. Thus knowing the average daily range is important.
eg We have to see what range the particular pair had achieved during the tokyo session as well as the london session. Assuming pair X averages 100 pips a day and it has already met this range during the first half of the london session, then a breakout of a channel on the upside for example would not yield very good odds if this breakout occurs at the upper extreme of the previously establish range. If the scenario is such that pair X only managed 50 pips prior to NY start, then the same breakout would be meaningful.
Listing all possible scenarios would be too long to type, hope you get the idea. Of course always trade in the direction of the intermediate or main trend.
Take a look at the chart below, if you are aware of the average range a pair is capable of moving, then taking validating those breakout signal will be much easier. Of course there are times where the prices moves lesser or more in a day than average, use your common sense. For the latter, check a longer time frame chart.
Adding to the above...for a pair to extend 30 to 50 pips more than its usual daily average is normal and sometimes even more. So use its as a guide and it is most effective when you are in the early phrases of a move. Every intraday players should know this.
In order to play effectively, you need to know the limitations of price movements. Meaning they are able to move only a certain range daily. Thus knowing the average daily range is important.
eg We have to see what range the particular pair had achieved during the tokyo session as well as the london session. Assuming pair X averages 100 pips a day and it has already met this range during the first half of the london session, then a breakout of a channel on the upside for example would not yield very good odds if this breakout occurs at the upper extreme of the previously establish range. If the scenario is such that pair X only managed 50 pips prior to NY start, then the same breakout would be meaningful.
Listing all possible scenarios would be too long to type, hope you get the idea. Of course always trade in the direction of the intermediate or main trend.
Take a look at the chart below, if you are aware of the average range a pair is capable of moving, then taking validating those breakout signal will be much easier. Of course there are times where the prices moves lesser or more in a day than average, use your common sense. For the latter, check a longer time frame chart.
Adding to the above...for a pair to extend 30 to 50 pips more than its usual daily average is normal and sometimes even more. So use its as a guide and it is most effective when you are in the early phrases of a move. Every intraday players should know this.
- #1,257
- Apr 10, 2008 5:19am Apr 10, 2008 5:19am
- Joined Jan 2008 | Status: Trader | 1,043 Posts
Feels good to live in Asia, eh ?
Yes this week is exceptional.....asians are calling the shots
- #1,258
- Apr 10, 2008 5:23am Apr 10, 2008 5:23am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
But before that....to share with the newer participants heres my method....again hehe
In order to play effectively, you need to know the limitations of price movements. Meaning they are able to move only a certain range daily. Thus knowing the average daily range is important.
eg We have to see what range the particular pair had achieved during the tokyo session as well as the london session. Assuming pair X averages 100 pips a day and it has already met this range during the first half of the london session, then a breakout of a channel on the upside for example would not yield very good odds if this breakout occurs at the upper extreme of the previously establish range. If the scenario is such that pair X only managed 50 pips prior to NY start, then the same breakout would be meaningful.
Listing all possible scenarios would be too long to type, hope you get the idea. Of course always trade in the direction of the intermediate or main trend.
Take a look at the chart below, if you are aware of the average range a pair is capable of moving, then taking validating those breakout signal will be much easier. Of course there are times where the prices moves lesser or more in a day than average, use your common sense. For the latter, check a longer time frame chart.
Attachment
Adding to the above...for a pair to extend 30 to 50 pips more than its usual daily average is normal and sometimes even more. So use its as a guide and it is most effective when you are in the early phrases of a move. Every intraday players should know this.
Good to have you back Mark !
Measure twice, cut once
...- #1,260
- Apr 10, 2008 5:40am Apr 10, 2008 5:40am
- | Commercial User | Joined Dec 2007 | 1,927 Posts
Feels good to live in Asia, eh ?