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A,B,C,D - 1,2,3,4 System

  • #121
  • Aug 28, 2008 9:35am Aug 28, 2008 9:35am
The first chart posted is an entry on the nzdjpy 4H, selling the EB at the TL. The following chart showing a Kings Crown/H&S on the nzdjpy 1H. My entries for kings crown is different from most, I entered on reversal candle formations(in this case the engulfin bearish candle) at the right tip as shown.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: njh&s.gif Size: 18 KB
  • #122
  • Aug 28, 2008 9:44am Aug 28, 2008 9:44am
Quoting Dra
My 4H eurjpy chart making too much noise at the moment. That Kings Crown/H&S looks valid. The thing is I dont have a TL no where close to where the market is now,so i'm staying on the sidelines.
Seems to be flirting with the previous TL at the moment. EJ has been great to trade off smaller TFs the last couple of sessions whilst waiting for the bigger picture to print

Great thread btw.
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  • #123
  • Aug 28, 2008 10:03am Aug 28, 2008 10:03am
Quoting ChowClown
Seems to be flirting with the previous TL at the moment. EJ has been great to trade off smaller TFs the last couple of sessions whilst waiting for the bigger picture to print

Great thread btw.
Yea the 1H looks pretty attractive. Good to have you posting.
Sherm I like H&S you pointed out. The markek breaks the inner TL, retrace to test that inner TL(which is now resistance) which was rejected and forms a E-bearish giving a nice entry.
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  • #124
  • Aug 28, 2008 11:40am Aug 28, 2008 11:40am
Audusd breaks the short term up TL retrace to the outer down TL an forms tweezer tops. Another good setup.
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  • #125
  • Aug 28, 2008 3:22pm Aug 28, 2008 3:22pm
Hey Dra, I've finished reading the thread from the beginning & studying many of the charts, so I hope I have a better understand than before how all this works.

Is a Kings Crown and a H&S the same thing, or are there differences?

If you took that AUD-USD trade today, you would close it before Friday close? You are always flat over weekends?

Looking forward to being in the class, I found my desk & pencils are sharpened .. thanks for being such a great teacher!
  • #126
  • Aug 28, 2008 4:13pm Aug 28, 2008 4:13pm
maybe this will come very soon
Attached Image (click to enlarge)
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  • #127
  • Aug 28, 2008 4:18pm Aug 28, 2008 4:18pm
What about this one .. is the EUR/CAD setting up?

And could you post at some point, the main pairs traded here. Thanks!
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  • #128
  • Edited 5:25pm Aug 28, 2008 5:20pm | Edited 5:25pm
here is my chart for the same setup as yours,
the down TL has been broken, am only looking for retracement back to the back of the of the TL which might form a support for price before bounce

This may look like this pair when it started forming
http://www.forexfactory.com/showpost...06&postcount=8

let wait and see, but little experience has taught me that there is pattern in fx market that keeps repeating itself, we need, just little patience.

remember, I might be wrong but am sure am making little sense
Attached Image (click to enlarge)
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  • #129
  • Aug 28, 2008 5:44pm Aug 28, 2008 5:44pm
Thanks naijafx, you are making a lot of sense

I see now my inner tl was invalid because there was no lower low ... so this is a potential long setup, but, maybe a few days away...

Thanks,

TS
  • #130
  • Aug 28, 2008 6:13pm Aug 28, 2008 6:13pm
This look like possible evening star in formation,

I think Dra needs to comment on this, good bounce at TL but am little worried over the fib ration this is happening.

But looks good really
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  • #131
  • Edited 7:16pm Aug 28, 2008 6:23pm | Edited 7:16pm
maybe?
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  • #132
  • Aug 28, 2008 6:30pm Aug 28, 2008 6:30pm
it is a good setup?
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  • #133
  • Aug 28, 2008 7:20pm Aug 28, 2008 7:20pm
Quoting flyingnie
it is a good setup?
I Completly agree with you...we have a very nice short setup in the 4 hour chart for usd/jpy...

If the low of the previous 4 hour candle brakes I will short it...

We have a nice candle formation as well...

I have a sell stop at 109.34

Attached Image (click to enlarge)
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  • #134
  • Aug 28, 2008 7:44pm Aug 28, 2008 7:44pm
What trendlin do you obey?...upward trendline or downward trendline?


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  • #135
  • Aug 28, 2008 7:51pm Aug 28, 2008 7:51pm
Quoting Shermenator
I Completly agree with you...we have a very nice short setup in the 4 hour chart for usd/jpy...

If the low of the previous 4 hour candle brakes I will short it...

We have a nice candle formation as well...

I have a sell stop at 109.34

Attachment
I agree, this is a chart that may be interesting.

BUT check mine, as i am in the same timeframe than you. When I look at your 2 charts there are little difference. You Shermenator have yet your evening star with a new whilte candle that i don't have. And you flyingnie seems to have a star smaller than mine.......

Where does that come from ? How reliable are the pattern then ?
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  • #136
  • Aug 28, 2008 7:57pm Aug 28, 2008 7:57pm
Quoting Shermenator
What trendlin do you obey?...upward trendline or downward trendline?


Attachment

Hmm see a very similar pattern & TL for NZDUSD and so far .......not very good It is a test for me to trade that one. I think it is an evening star under the C but maybe i'm wrong ......
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  • #137
  • Aug 28, 2008 7:57pm Aug 28, 2008 7:57pm
Quoting K-fx
I agree, this is a chart that may be interesting.

BUT check mine, as i am in the same timeframe than you. When I look at your 2 charts there are little difference. You Shermenator have yet your evening star with a new whilte candle that i don't have. And you flyingnie seems to have a star smaller than mine.......

Where does that come from ? How reliable are the pattern then ?

I am currently short in usd/jpy...this comes down to what time your daiy candle closes....Mine closes at 8 pm eastern time
this being tokyo session you have to trade with what your chart give you.......I have odl metatrader...

Attached Image (click to enlarge)
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  • #138
  • Aug 28, 2008 7:59pm Aug 28, 2008 7:59pm
Quoting Shermenator
What trendlin do you obey?...upward trendline or downward trendline?


Attachment
it makes a higher low price,so long au
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  • #139
  • Aug 28, 2008 8:03pm Aug 28, 2008 8:03pm
Quoting K-fx
Hmm see a very similar pattern & TL for NZDUSD and so far .......not very good It is a test for me to trade that one. I think it is an evening star under the C but maybe i'm wrong ......

You are drawing the trendlines wrong my friend....

the way he drws this is the fallowing way...

lets say you have an A and B....then price begins to retrace to c....
at this point you canot draw a trendline ...the trendline can only be drawn once price surpasses the high or the low of B ( this depends on either its a bullish ab or bearish) So what we are always trading is the second wave and on. the first wave will establish the trendine...the second wave from that point is when we look for a bounce
  • #140
  • Aug 28, 2008 8:05pm Aug 28, 2008 8:05pm
Quoting flyingnie
it makes a higher low price,so long au

What anout this trendlines?
let me get your opinion

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