DislikedIs there any good point to go new long with GJ? Can I target to 144 area from its current price?Ignored
Dr. C
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #162,142
- Feb 24, 2009 7:12pm Feb 24, 2009 7:12pm
- | Joined Jul 2007 | Status: Don't Loose Your Shirt | 1,146 Posts
on daily, 4h ?? can you post a chart with your 127 NL ??
this is daily chart...second neck ..see four candle formation between blue and red line...just before break
- #162,143
- Feb 24, 2009 7:14pm Feb 24, 2009 7:14pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #162,144
- Feb 24, 2009 7:16pm Feb 24, 2009 7:16pm
LMAO.....okay, so I guess I'll wait for a retrace before going long and I'll try to let this one run and see where it gets to.
In my last 2 profitable trades I took profit way too early, only to see price move in my direction for another 200 pips. So I want to try and let one ride the trend.
Play with it a little to get the feel.
It works for me.
Thanks for the chart, something new to look & study.
I trade what I see on my charts.
Do Not listen to the Muppets.
- #162,145
- Feb 24, 2009 7:19pm Feb 24, 2009 7:19pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
here...baby
this is daily chart...second neck ..see four candle formation between blue and red line...just before break
That is why I asked you to post the chart.. was looking for another one - maybe
- #162,146
- Feb 24, 2009 7:22pm Feb 24, 2009 7:22pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
YES, there was anoother one earlier, [missed that one] with the NL on 128.80
That is why I asked you to post the chart.. was looking for another one - maybe
- #162,148
- Feb 24, 2009 7:28pm Feb 24, 2009 7:28pm
- | Joined Jul 2007 | Status: Don't Loose Your Shirt | 1,146 Posts
The right shoulders on both those charts are very poorly defined. I find it very hard to consider that pattern a H&S at all.
as long as the shoes fits...i'm wearing it...baby
- #162,149
- Feb 24, 2009 7:33pm Feb 24, 2009 7:33pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
The right shoulders on both those charts are very poorly defined. I find it very hard to consider that pattern a H&S at all.
But as I said mate, there are few different theories regards h/s, with exact ratio between top and right shoulder, and betwen right and left shoulder. I can post some of those information here, but as I said, it is a theory.
In reality we trade those patterns without any meassurement.
the first one the one with 128.80 breakout, I agree with you.. more likely looks as a daily Trendline breakout, but the fact that the PA made [tested] 3 peacks, for most of the traders is far enough to trade that pattern. [that is reality].
I know a guy who trade H/S only as a continuation patterns, so his theory is based on false NL break and taking the high of the right shoulder.. He doesnt trade breakouts..
I trade the one, With three points on the NL, with or without breakout - mean as reversal and continuation one.
cheers, and thanks for your reply!
- #162,150
- Feb 24, 2009 7:43pm Feb 24, 2009 7:43pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
TP#1 143.00 zone
TP#2 150.00 zone
Good Luck!!
TP#2 150.00 zone
Good Luck!!
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- #162,152
- Feb 24, 2009 8:18pm Feb 24, 2009 8:18pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
I am a swing trader so I've been in this trade for several weeks from 130.00 area.
Good Luck
Good Luck
Hello
Which point of GJ price did you go long ? I am targeting to 144. Hope it would attain today
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- #162,153
- Feb 24, 2009 8:31pm Feb 24, 2009 8:31pm
The right shoulders on both those charts are very poorly defined. I find it very hard to consider that pattern a H&S at all.
{Some Profound Statement goes here}
Looks alright to me. This would be classified as a complex H&S pattern and also represents trend continuation as it is not a reversal. PM me with your email address if you want a copy of my chart patterns bible, but be warned this thing reads like War and Peace.
Btw I pm-ed to you
