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Charting and Trading Daily Reversal Points

  • #21
  • Mar 6, 2009 3:57pm Mar 6, 2009 3:57pm
In the 1st post you can now find an updated template for all the pairs based on my evaluations. Remember to make this work we will need your skill as well as a trader. Helping pick reversal points is paramount to making this whole project work.

Have a great weekend all.

Damon
"Keep your eyes on the helpers" - Mr. Rogers
  • #22
  • Mar 6, 2009 3:59pm Mar 6, 2009 3:59pm
Yes I am to blame . I hope that you will be around for testing. Shall I put you on the list?

Quoting llambert3
hmmm, now it makes sense where/what Gary has been doing!!!! hee hee.
"Keep your eyes on the helpers" - Mr. Rogers
  • #23
  • Mar 6, 2009 4:46pm Mar 6, 2009 4:46pm
Checking in too... keep me posted. Yes, would like to participate when you are ready for us...
  • #24
  • Edited 6:11pm Mar 6, 2009 6:10pm | Edited 6:11pm
If you need another tester, I have the time to test and give feedback. I haven't posted on this forum very much due to time constraints, but I just sold my business and I am officially retired.

Look forward to following this thread.

azastroman

p.s. I just looked at my post count and this is my 1st post on ForexFactory. I thought I should clarify that before someone else pointed it out.
  • #25
  • Mar 6, 2009 6:16pm Mar 6, 2009 6:16pm
Quoting azastroman
If you need another tester, I have the time to test and give feedback. I haven't posted on this forum very much due to time constraints, but I just sold my business and I am officially retired.

Look forward to following this thread.

azastroman

p.s. I just looked at my post count and this is my 1st post on ForexFactory. I thought I should clarify that before someone else pointed it out.
Never judge a poster by their post count. I've seen posters with less than 5 total posts in their count post something that rocks your world. No worries here about that, Azastroman. Welcome to the party. Damon throws some wild ones too!
- Bowen (a.k.a. Wolf)
  • #26
  • Mar 6, 2009 7:18pm Mar 6, 2009 7:18pm
Damon, et al, The Drone's back as well - let me know if you need assistance.
  • #27
  • Edited Mar 8, 2009 12:34am Mar 7, 2009 12:49am | Edited Mar 8, 2009 12:34am
Looks like "Damon's Demons" (testers) are all reporting for duty - cool!!!
- Bowen (a.k.a. Wolf)
  • #28
  • Mar 7, 2009 6:53am Mar 7, 2009 6:53am
Okay, let's see some charts you guys. Normally I would wait until the Sunday candle closes, but there is no time like the present to start thinking about our trades for Monday's open.

Here is my EurUsd chart. Now, before deciding I will have to see what happens with the Sunday bar, but I am seeing 5 possible stop and reverse points marked as x's on the chart. The upper one that is blue I don't think is really that strong as price has not really been effected much when this line has been hit.

So for now, I would be looking to incorporate any one of the points at the red x's for my reversal points. Suday's closed bar will tell me more.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 26 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #29
  • Mar 7, 2009 12:42pm Mar 7, 2009 12:42pm
Here is a nice UsdCad weekly chart. It is forming a very nice bullish flag. Although I think it is not ready to play "Jack in the Box" yet, it at least shows the upside potential yet to be had by UsdCad. Long term, I would be placing buy orders down of the lower weekly trendlines which are in blue.

Enjoy and this is a side bar for this thread and has nothing to do with trading this EA...This is a bonus

Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 27 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #30
  • Mar 7, 2009 1:11pm Mar 7, 2009 1:11pm
Here is a nice chart of the GbpJpy. I am seeing upward momentum pushing through the weekly trendline, perhaps in a few more days. And then pushing up to the descendling slope weekly trendline above that, before givin us another major push back down.

The x's on the chart seem like likely spots that I will be placing my range orders on Monday, but I will have to verify this after the close of the bar on Sunday.

Enjoy!

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 27 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #31
  • Mar 7, 2009 1:31pm Mar 7, 2009 1:31pm
We are ready now.....It is time to start posting charts

Quoting flapper
Checking in too... keep me posted. Yes, would like to participate when you are ready for us...
"Keep your eyes on the helpers" - Mr. Rogers
  • #32
  • Mar 7, 2009 1:34pm Mar 7, 2009 1:34pm
I'll catchup shortly!!

80 degrees out after 7inches of snow on Monday.. Too nice to be indoors.
  • #33
  • Mar 7, 2009 1:35pm Mar 7, 2009 1:35pm
Hello and Welcome

You are welcome to start posting charts and giving your analysis at anytime. Reading charts is a must to use this system.

Welcome

Quoting azastroman
If you need another tester, I have the time to test and give feedback. I haven't posted on this forum very much due to time constraints, but I just sold my business and I am officially retired.

Look forward to following this thread.

azastroman

p.s. I just looked at my post count and this is my 1st post on ForexFactory. I thought I should clarify that before someone else pointed it out.
"Keep your eyes on the helpers" - Mr. Rogers
  • #34
  • Mar 7, 2009 1:36pm Mar 7, 2009 1:36pm
Jump on in nickj. I want to see charts with your analysis on reversla points.

Quoting nickj
Damon, et al, The Drone's back as well - let me know if you need assistance.
"Keep your eyes on the helpers" - Mr. Rogers
  • #35
  • Mar 7, 2009 1:37pm Mar 7, 2009 1:37pm
Hello...I have made a few updates to the 1st page. The are clearly highlighted blue bold.

Enjoy
"Keep your eyes on the helpers" - Mr. Rogers
  • #36
  • Mar 7, 2009 1:39pm Mar 7, 2009 1:39pm
Hey L3,

Need to do that as well, but wanted to clean my office today. Just got a little side tracked.

Later

Quoting llambert3
I'll catchup shortly!!

80 degrees out after 7inches of snow on Monday.. Too nice to be indoors.
"Keep your eyes on the helpers" - Mr. Rogers
  • #37
  • Mar 7, 2009 4:38pm Mar 7, 2009 4:38pm
Here is what I am seeing on the UsdJpy weekly chart. This is way out there in terms on the future, but it is what my trendlines are telling me.

Enjoy!

Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 29 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #38
  • Mar 7, 2009 4:42pm Mar 7, 2009 4:42pm
I am not even able to make a guess yet here, I will need to see where the Sunday bar closes. Here is the chart anyway

Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 27 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #39
  • Mar 7, 2009 11:57pm Mar 7, 2009 11:57pm
Quoting damonl
Hello and Welcome

You are welcome to start posting charts and giving your analysis at anytime. Reading charts is a must to use this system.

Welcome
Damon,

Pardon my temporary ignorance but are we testing an EA yet or just posting charts to make sure we have the correct template and indicators set up? I know I don't have the EA yet, perhaps others do?

Also, does the first post give us everything we need at this point to fully understand the strategy - including how to analyze the chart as per this system - or are you just asking for general observations on where we think price is heading next?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_Daily_030709_Wolf.JPG Size: 111 KB
- Bowen (a.k.a. Wolf)
  • #40
  • Mar 8, 2009 1:53am Mar 8, 2009 1:53am
Quoting damonl
I am not even able to make a guess yet here, I will need to see where the Sunday bar closes. Here is the chart anyway

Attachment
My best guess at this point without Sunday's bar yet? You have a double bottom already in place (12/17/08 and 01/21/09). Suggests heavy upside run for some distance still yet to go. 3/6/09 bar is the smart money (market movers) running the trailing stops on the longs who have already jumped onboard the current run up. Smart money is holding a lot of long trades (scooped up from the shorts who cashed out during the shake out in the double bottom) and they want more profits. The retracement bars on 2/27 and 3/2 didn't do the trick, hence, the 3/6 bar has a long low-side tail designed to shake lose the longs and also entice dumb money to go short. On my broker's charts 3/6 closed UP with higher volume than the prior two bars, which to me means the smart money was literally ripping the rug out from under the shorts by the end of the day. The 3/5/ bar (highest high) doesn't have low volume (just average) so I don't think it's the real top yet. They tried this (high run up on price with low volume) on 2/26 but the longs didn't cash out so on 2/27 they decided to shake them loose so they could buy up all the sell orders (accumulation). If the 3/6 bar was an inside bar, then I would have said that the smart money was cashing out and distributing which would indicate go short. But it's not so I think there is more upside here. Then again, what the heck do I know, but hey, it sounds good, huh? ?
- Bowen (a.k.a. Wolf)
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