Technical Analysis; S/R, Trendlines, MA's, Useful Indicators and Price-patterns | Page 2 | Forex Factory

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Attachments: Technical Analysis; S/R, Trendlines, MA's, Useful Indicators and Price-patterns
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Technical Analysis; S/R, Trendlines, MA's, Useful Indicators and Price-patterns

  • #21
  • Sep 2, 2008 7:27am Sep 2, 2008 7:27am
Looks as if our prayers have been answered and Aussie is headed down again.

Coincidence or not, initial divergence target was reached and also coincidence or not, Fib 38.2 was "holding" price around the 0.8504 area.

This level has been broken. Still early to say if we wil have a 100% correction. We are getting a bit oversold I might say.

Also, closing in on a "hold" area(trendline) that should hold price for a while.

Wow, what a beginning of week this has been so far.

Cheers,
JP.
Attached Image (click to enlarge)
Click to Enlarge Name: aud_usd_wk_02_09_2008_broken_level.gif Size: 20 KB
  • #22
  • Edited 7:51am Sep 2, 2008 7:36am | Edited 7:51am
Thanks for starting this thread, this is what i really need at the moment!!
I'm a very new trader, after reading your thread, i realize there are many things that i need to learn in order to success in the trading arena...

I have a question about the trendline that is shown in your example, you show us the example in line chart, but if it is in the chandlestick chart, I think it will look pretty different.

I've attached 2 charts for your reference. Can you please kindly guide me through the process of trendline based trading??

1.) When to enter trade?
2.) Where should the Stop Loss be?
3.) Where should the Take Profit be?

Thank you very much for your help....i really really really appreciate that!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart1.jpg Size: 172 KB
Click to Enlarge Name: Chart2.jpg Size: 183 KB
  • #23
  • Sep 2, 2008 8:19am Sep 2, 2008 8:19am
Quoting bearking
Thanks for starting this thread, this is what i really need at the moment!!
I'm a very new trader, after reading your thread, i realize there are many things that i need to learn in order to success in the trading arena...

I have a question about the trendline that is shown in your example, you show us the example in line chart, but if it is in the chandlestick chart, I think it will look pretty different.

I've attached 2 charts for your reference. Can you please kindly guide me through the process of trendline based trading??

1.) When to enter trade?
2.) Where should the Stop Loss be?
3.) Where should the Take Profit be?

Thank you very much for your help....i really really really appreciate that!!
Is that a 1h chart ? If so, see some of the last sentences in post #1 in this thread.

If you want to handle these method, I would appreciate if your read everything posted so far. I shouldn't take more than 10 minutes of your time.
Measure twice, cut once
  • #24
  • Sep 2, 2008 6:24pm Sep 2, 2008 6:24pm
Ok, I'll explain despite your 1h chart

I would have closed half position if price closed outside your TL and rest on close above HL pointed out on your chart. That would be the first signs of weakening trend (break of TL the first sign).

For taking profit, I would watch how price reacted to previous LL in this example. Personally, I'm a big fan of closing half the position at, lets say LL in this case, and let the rest ride risk-free.
Measure twice, cut once
  • #25
  • Sep 3, 2008 5:29am Sep 3, 2008 5:29am
Usd/cad; On monthly chart price have closed outside a downward wedge. I think this wedge have been posted before be either me or JP ? Red TL is potential target.

I've managed to scoop in on this trade (small position) based on a close above previous HH and channel-breakout to the upside on 4h chart. More will be added if price close 1% above the wedge. Green line is the same angel as the lowest TL on daily chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad4hgchannel.jpg Size: 122 KB
Click to Enlarge Name: usdchaddailywedge.jpg Size: 131 KB
Click to Enlarge Name: usdcadmonthlywedge.jpg Size: 123 KB
Measure twice, cut once
  • #26
  • Sep 3, 2008 5:34am Sep 3, 2008 5:34am
Gbp/chf is trading at potential daily support right now. A daily close on this level or above could be a signal of strength on this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchfdailysr.jpg Size: 124 KB
Measure twice, cut once
  • #27
  • Sep 3, 2008 8:12am Sep 3, 2008 8:12am
Quoting aediaz1
Ok, I'll explain despite your 1h chart

I would have closed half position if price closed outside your TL and rest on close above HL pointed out on your chart. That would be the first signs of weakening trend (break of TL the first sign).

For taking profit, I would watch how price reacted to previous LL in this example. Personally, I'm a big fan of closing half the position at, lets say LL in this case, and let the rest ride risk-free.
That's nice!

Left some note on the Marber thread. Still willing and probably able to get our experiment off in late September - early October.

Beautiful new thread!
Ciao!
Matt
  • #28
  • Sep 4, 2008 9:01am Sep 4, 2008 9:01am
Hi folks,

Kiwi is about to break a very significant trendline.

I see a divergence on monthly targeting 0.5926.

So, this could be one heck of a pip round too.

Keep ur eyes open...

Cheers,
JP.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd_usd_mn_04_09_2008_asc_channel_divergence_targer.gif Size: 18 KB
  • #29
  • Sep 4, 2008 11:46am Sep 4, 2008 11:46am
Great thread, congratulations. After a year or so you could gather all your posts and release a Forex book. I will buy it Trade on!
  • #30
  • Sep 4, 2008 12:02pm Sep 4, 2008 12:02pm
aediaz1,

it is correct?
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY.JPG Size: 316 KB
Sorry about my english...
  • #31
  • Sep 4, 2008 5:42pm Sep 4, 2008 5:42pm
Quoting Gnat
That's nice!

Left some note on the Marber thread. Still willing and probably able to get our experiment off in late September - early October.
Lol and I left a note there. Back and forth once again

Quoting Gnat
Beautiful new thread!
Ciao!
Matt
Thanks !

Quoting jupiter_peak
Hi folks,

Kiwi is about to break a very significant trendline.

I see a divergence on monthly targeting 0.5926.

So, this could be one heck of a pip round too.

Keep ur eyes open...

Cheers,
JP.
Guess who's not going to argue over that target
Measure twice, cut once
  • #32
  • Sep 4, 2008 5:44pm Sep 4, 2008 5:44pm
Quoting MarkGavalda
Great thread, congratulations. After a year or so you could gather all your posts and release a Forex book. I will buy it Trade on!
Hi Mark, good to see you're still kickin' ! Haha, a 30 paged book Cheers !
Measure twice, cut once
  • #33
  • Sep 4, 2008 6:08pm Sep 4, 2008 6:08pm
Quoting CIORIMAU--
aediaz1,

it is correct?
It's easier with closing-price chart to start with. I'll try illustrate with a chart. Remember that the second point where you attach your TL in a downtrend, price have to trade lower than that point before you can attach any line. In uptrend, the second point where you want to attach your TL, price have to trade above that level before you can attach any line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ex1.jpg Size: 69 KB
Click to Enlarge Name: ex2.jpg Size: 78 KB
Measure twice, cut once
  • #34
  • Sep 4, 2008 8:06pm Sep 4, 2008 8:06pm
Quoting CIORIMAU--
aediaz1,

it is correct?
Hi Mauricio,

R u Brazilian?

Well, welcome to the thread!!

May I suggest that you clean up your MT4 template so you and we can "observe" your charts better?

I would suggest Aediaz1 template. Very good for the eyes.

Anyway, be very welcome here.

Anything you need, please do not hesitate.

All the best from Rio de Janeiro,

JP.
  • #35
  • Sep 4, 2008 8:17pm Sep 4, 2008 8:17pm
Quoting jupiter_peak
Hi Mauricio,

R u Brazilian?

Well, welcome to the thread!!

May I suggest that you clean up your MT4 template so you and we can "observe" your charts better?

I would suggest Aediaz1 template. Very good for the eyes.

Anyway, be very welcome here.

Anything you need, please do not hesitate.

All the best from Rio de Janeiro,

JP.
are you brazilian too?
Sorry about my english...
  • #36
  • Sep 4, 2008 8:20pm Sep 4, 2008 8:20pm
Quoting CIORIMAU--
are you brazilian too?
Yes.

Where u from?

Best,

JP.
  • #37
  • Sep 8, 2008 2:38am Sep 8, 2008 2:38am
Hi there folks,

I see EJ inside a broadening triangle on weekly. Looks to me that the uptrend line/channel was broken. Well, price is rechecking the broken TL.

Also, this broadening triangle looks as if it's about to break.

Lets see what happens...

Looks like this one is headed down too.

Cheers.

JP.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_jpy_wk_08_09_2008_asc_channel_line_graph.gif Size: 14 KB
  • #38
  • Sep 8, 2008 2:50am Sep 8, 2008 2:50am
Hi there Aediaz,

Although I see the USD stregthening (OIL and USDx), I also observe a double tops on daily for USDCAD.

Maybe it will go down a little before it heads up?

I also see a treandline that wasn't broken on monthly.

Check this out.

JP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd_cad_d1_08_09_2008_double_tops.gif Size: 21 KB
Click to Enlarge Name: usd_cad_mn_08_09_2008_desc_channels.gif Size: 13 KB
  • #39
  • Sep 8, 2008 3:11am Sep 8, 2008 3:11am
Aediaz, thanx for this thread.
  • #40
  • Sep 8, 2008 3:54am Sep 8, 2008 3:54am
Lovely topic ! and salutes for your spirit of kindness and sharing.

Regards

mARK
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