Technical Analysis; S/R, Trendlines, MA's, Useful Indicators and Price-patterns | Page 8 | Forex Factory

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

  • #141
  • Oct 3, 2008 3:38am Oct 3, 2008 3:38am
Quoting aediaz1
No luck on that pair. Pay attention to my mistake for fighting the trend. As long as no TL's is broken to the upside (in this case) the trend is down and without few if any expectations should you trade against the trends.
Good day eadiaz. Actually theres been some perfect trades on GBP/JPY (actually all JPY crosses) using templates #18.1 and #18.4 from Igrok.
  • #142
  • Oct 3, 2008 6:01am Oct 3, 2008 6:01am
Quoting belekas
Good day eadiaz. Actually theres been some perfect trades on GBP/JPY (actually all JPY crosses) using templates #18.1 and #18.4 from Igrok.
Good day. Mind posting a chart, can't see those setups You're talking about yesterday ?
Measure twice, cut once
  • #143
  • Oct 3, 2008 8:00am Oct 3, 2008 8:00am
Typical pull-back, although I entered it on the break yesterday.
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Measure twice, cut once
  • #144
  • Oct 3, 2008 8:41am Oct 3, 2008 8:41am
Quoting aediaz1
I don't use fibs for this task. HL/HH and the opposite should only be used when price is trending. If price is not trending it's no point of using them. So if price is trending upward, only look for retracements to plot HH/HL. And remember that this is not a tradeable system, its simply a helping-tool to define a (potential) trend.

On posted chart I've tried to explain what I mean by swings.
Hi aediaz1

Thanks I have a new light in my head ;-)
On my chart you can see one pullback 's execeeded last HL what does it mean ? and what's his name ?
"its simply a helping-tool to define a (potential) trend" there is rules with this process to define the trend example numbers of swing or after 2 or 3... ?
Thank a lot for your hand
Regards
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  • #145
  • Edited 9:27am Oct 3, 2008 9:09am | Edited 9:27am
Quoting cmfxmen
Hi aediaz1

Thanks I have a new light in my head ;-)
On my chart you can see one pullback 's execeeded last HL what does it mean ? and what's his name ?
"its simply a helping-tool to define a (potential) trend" there is rules with this process to define the trend example numbers of swing or after 2 or 3... ?
Thank a lot for your hand
Regards
Hi. No TA tool will ever give you the 100% success-rate luxury. This is a very hard issue for most new traders to accept and when I see people fail to accept the truth that losing is a part of trading you can't skip (that's why preserving your capital is so important) like when I tried to teach some of my friends some simple TA setups, it become very hard to continue because they will simply give up when they see something fails for once even when it have proven to work many times before.

When a LH in a downtrend is exceeded, it will, in most cases, be a sign of weakening down-trend. In other terms, a probability. You can call it a new high if you want to
Measure twice, cut once
  • #146
  • Oct 3, 2008 9:31am Oct 3, 2008 9:31am
Lord, give us 3 successive close below this last significant LH and I'll hold into this trade till I have grand kids

You might say hah 175 pips is nothing. I say that the pip-value on this pair is almost twice the amount compared to eur/usd. Still not impressed ? Good, I'm not here to impress anyone
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Measure twice, cut once
  • #147
  • Oct 3, 2008 10:24am Oct 3, 2008 10:24am
Quoting aediaz1
Hi. No TA tool will ever give you the 100% success-rate luxury. This is a very hard issue for most new traders to accept and when I see people fail to accept the truth that losing is a part of trading you can't skip (that's why preserving your capital is so important) like when I tried to teach some of my friends some simple TA setups, it become very hard to continue because they will simply give up when they see something fails for once even when it have proven to work many times before.

When a LH in a downtrend is exceeded, it will, in most cases, be a sign of weakening down-trend. In other terms, a probability. You can call it a new high if you want to
Hi aediaz1

I'm newbies on Forex but since 1 year I try to undrestand this job 8/10 hours by day and i anderstood that I am in the middle of "chaos theory" and future never can to be predict and failure it's always around on all business look at this time " big banks big country failure" my ask was only because i'm deformed by my past job i like the precision first tool i learnt on Forex was MM and this one continous to protect my balance
On my chart now i plot the trendline it's only on this case or there is another alternative ?
Thanks have a good weekend and goods trades eurgbp looks cool ;-)
Regards
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  • #148
  • Oct 3, 2008 10:38am Oct 3, 2008 10:38am
Quoting cmfxmen
Hi aediaz1

I'm newbies on Forex but since 1 year I try to undrestand this job 8/10 hours by day and i anderstood that I am in the middle of "chaos theory" and future never can to be predict and failure it's always around on all business look at this time " big banks big country failure" my ask was only because i'm deformed by my past job i like the precision first tool i learnt on Forex was MM and this one continous to protect my balance
On my chart now i plot the trendline it's only on this case or there is another alternative ?
Thanks have a good weekend and goods trades eurgbp looks cool ;-)
Regards
It seems that you're trading of daily chart and that's a good start. Less stress, IMO.

Your TL is correct. One advice based on past experience; when TL have such downward angle as in your case, break of those lines tend to spark only limited moves because the trend is so strong. Don't take my word on it, better watch and see yourself what happens when we have lines almost vertical. Also, your trading of a pair I share no experience with.

Regarding eur/gbp, it's already slapping me for trying to predict where it will close in 5 hours
Measure twice, cut once
  • #149
  • Edited Oct 4, 2008 7:24am Oct 3, 2008 9:57pm | Edited Oct 4, 2008 7:24am
Nice selling apportunity might take place in the Eur cad...
we have a nice downtrendline getting impacted as well as a nice fibb number getting hit

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  • #150
  • Oct 6, 2008 5:36am Oct 6, 2008 5:36am
So far I have no trades this week....this seems to be something forming if it retraces a bitt deeper...

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  • #151
  • Oct 10, 2008 4:16am Oct 10, 2008 4:16am
Few of the price-patterns I've been trading in these crazy days is double tops/bottoms on lower TF. No doubt that investors are fearful, when price seems to hit a price-level more than twice, price seems to reverse very quick.
Just an observation, not an rule carved in stone.

I've closed half the position when target was achived and let the rest run. Got quite lucky on gbp/chf and aud/usd DT's and managed to ride along for a bit;
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Measure twice, cut once
  • #152
  • Oct 10, 2008 7:44am Oct 10, 2008 7:44am
Another DB;
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Measure twice, cut once
  • #153
  • Oct 10, 2008 9:10am Oct 10, 2008 9:10am
Target reached and some extra. Closing half of the position.
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Measure twice, cut once
  • #154
  • Oct 10, 2008 10:15am Oct 10, 2008 10:15am
Loads of quality information all condensed into one thread! Thanks for the informative read aediaz1. This is probably one of the best summary of important TA knowledge I have seen, it is like the essence of babypips, but more in-depth.

Particularly good insights on how to recognize proper breaks by adopting a 3 day confirmation. This is something new to me.

Also, really appreciate how you explained the various means to trade patterns such as double tops/bottoms, the breakouts of triangles/wedges and with confirmation from divergences.

More insight into price action would have been great, would love to hear your opinion on e the good candlestick formations.

Thanks again! Enjoyed the read.
  • #155
  • Oct 10, 2008 12:09pm Oct 10, 2008 12:09pm
Quoting aediaz1
Pattern that signs exhaustion of the currently bull/bear run and a break to the opposite direction of the wedge is expected. But there is no such thing as always in this market.

Calculation of potential targets;

Downward wedge; Take the lower TL and copy its angle and attach it to the starting-point of upper TL.

Upward wedge; Take the higher TL and copy its angle. Then attach it to the starting-point of lower TL.

To copy any line in MT4, mark line and press down CTRL bottom while you drag it.
Hi, great thread and I already learned alot. I have been trying to use these things with pain and suffering and distress and miserable failure.

I have a question about the MACD, Im using meta trader on ODL. On my MACD I dont have 2 moving averages. You have the navy blue and the dotted red plus the green bars. I only get 1 moving average and the bars. Did you add one of the moving averages (blue or the red dotted) manually as a MA?

Cheers
  • #156
  • Oct 13, 2008 5:25am Oct 13, 2008 5:25am
Quoting soyabean
Loads of quality information all condensed into one thread! Thanks for the informative read aediaz1. This is probably one of the best summary of important TA knowledge I have seen, it is like the essence of babypips, but more in-depth.

Particularly good insights on how to recognize proper breaks by adopting a 3 day confirmation. This is something new to me.

Also, really appreciate how you explained the various means to trade patterns such as double tops/bottoms, the breakouts of triangles/wedges and with confirmation from divergences.

More insight into price action would have been great, would love to hear your opinion on e the good candlestick formations.


Thanks again! Enjoyed the read.
Thank you for your kindly words. Appreciate it.

Talking about breaks, if you refer to TL breaks, the requirement is 1% on daily chart for a valid break. For a trend to reverse we need a TL break and 3 days close below the last significant LH/HL. The probability for it, that is.

I'll try to post some examples as we witness them in real-time with explenation. It's so easy to look back on any chart saying "look how great it worked" regarding candlestick setups
Measure twice, cut once
  • #157
  • Oct 13, 2008 5:30am Oct 13, 2008 5:30am
Quoting dfxclub
Hi, great thread and I already learned alot. I have been trying to use these things with pain and suffering and distress and miserable failure.

I have a question about the MACD, Im using meta trader on ODL. On my MACD I dont have 2 moving averages. You have the navy blue and the dotted red plus the green bars. I only get 1 moving average and the bars. Did you add one of the moving averages (blue or the red dotted) manually as a MA?

Cheers
Good to hear. Well, I think its pretty hard trading of daily chart right now. That's why I've skipped down to smaller TF, trading double tops/bottoms.

Here's the MACD I use;
Attached File(s)
File Type: mq4 MACD True.mq4   3 KB | 506 downloads
File Type: ex4 MACD True.ex4   3 KB | 485 downloads
Measure twice, cut once
  • #158
  • Oct 13, 2008 11:08am Oct 13, 2008 11:08am
DT along with a triple divergence on eur/usd, 15m chart;
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Measure twice, cut once
  • #159
  • Oct 13, 2008 9:49pm Oct 13, 2008 9:49pm
Hi Aediaz,

Long time don't post here.

Just a broadening triangle that could become a diamond on UJ mothly. Looks like we are headed up for good.

Spotted it on momentum indie as well.

Looks like we had a bottom of a broadening formation observed on H4 and Daily as well. We should have abreak on the top of this formation as it will be the fourth touch of that descending trendline around 105.60-105.80

Keep up the EXCELLENT thread!!

Cheers,

JP.
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  • #160
  • Oct 14, 2008 4:50am Oct 14, 2008 4:50am
Quoting jupiter_peak
Hi Aediaz,

Long time don't post here.

Just a broadening triangle that could become a diamond on UJ mothly. Looks like we are headed up for good.

Spotted it on momentum indie as well.

Looks like we had a bottom of a broadening formation observed on H4 and Daily as well. We should have abreak on the top of this formation as it will be the fourth touch of that descending trendline around 105.60-105.80

Keep up the EXCELLENT thread!!

Cheers,

JP.
Hi JP. Hope you're doing good. I haven't payed too much attention on the long-term yet, but I guess its time soon.
Measure twice, cut once
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