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  • #2,481
  • Apr 28, 2009 5:13pm Apr 28, 2009 5:13pm
Hi everyone,
here is my pick:
Attached Image (click to enlarge)
Click to Enlarge Name: 11111.png Size: 27 KB


The 50 line has been violated 3 times by price.
Thus the 50 line is not strong.
Candles are hanging under 20 line.
Ready for a drop.
  • #2,482
  • Apr 28, 2009 5:17pm Apr 28, 2009 5:17pm
Hi team,
Big Boss has been going down
Boss closed below 1.2200 and Boss 20 for 2 weeks.
Daily retraced off 20MA today and is currently at 1.2200.
I like this short @ 1.2152, SL 1.2282, 132p risk
TP 1 1.2102 bring 2 & 3 to BE
TP 2 1.2002
TP 3 high of previous bar
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 18 KB
  • #2,483
  • Apr 28, 2009 5:24pm Apr 28, 2009 5:24pm
Quoting green
Hi everyone,
here is my pick:Attachment

The 50 line has been violated 3 times by price.
Thus the 50 line is not strong.
Candles are hanging under 20 line.
Ready for a drop.
Strange analysis and conclusion

A "Bond" hammer has formed and you think "short"

The "Bond" hammer has formed on strong psycho support at 68.00 and you think "short"

The "Bond" hammer has formed a higher swing low and you think "short"

If you are basing your analysis on two MAs, you need to go back to the beginning of The Path of Learning and very quick too, before your account cries out for "mercy"!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,484
  • Edited 5:43pm Apr 28, 2009 5:32pm | Edited 5:43pm
Quoting shoestring
Hi team,
Big Boss has been going down
Boss closed below 1.2200 and Boss 20 for 2 weeks.
Daily retraced off 20MA today and is currently at 1.2200.
I like this short @ 1.2152, SL 1.2282, 132p risk
TP 1 1.2102 bring 2 & 3 to BE
TP 2 1.2002
TP 3 high of previous bar
The BIG BOSS isn't helping, she's confused, she's just trolling sideways.
The BOSS has confirmed a swing low and confirmed TL support
The Daily has put in a HL and confirmed TL support

Might it be the Daily wants to do as her BOSS tells her?

In any event, there is NO PASR to indicate a trade either long or short

BUT, if you want to gamble...............just do direct deposit to my account instead - it will save you the spread and commission!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,485
  • Apr 28, 2009 5:46pm Apr 28, 2009 5:46pm
Quoting AstonDan
Would you guys and gals take this...

Attachment

I would not take it for many reasons. 200 pip risk for 200 pip gain IF it makes it to the resistance level at 144.57ish It is bouncing off the 50 and BOSS 20. Not to mention the shooting star on the monthly. IF it made it through those the 20 is not many pips above. Lots of IF's in this trade. It will be a good trade IF it breaks the 50, then IF it breaks the BOSS 20, then IF it breaks the 20. After all of this, IF it breaks through resistance. Only then would it have a chance of giving good reward for the risk that would have to be taken. The question is are you feeling lucky? I am personally looking to sell when PASR shows on the daily, that confirms the price action that is showing on the monthly.
  • #2,486
  • Apr 28, 2009 5:48pm Apr 28, 2009 5:48pm
Quoting psneto
EUR/USD

Market tested TL and respected it. No PA, NO TRADE

USD/CHF

Market opened above 20 ema and 50 sma but closed below it. IB testing
a TL. Next support is between 1.1250 and 1.1300. it can be a trade for
100 pips but the risk is too high. We have better trades around the
[size=3][FONT=Times...
No decision on EURJPY? So my Post # 2422 didn't help?

Well after a few backward steps, psneto, you have finally moved a step forward - good job!
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,487
  • Apr 28, 2009 5:56pm Apr 28, 2009 5:56pm
Quoting strat
My line is at 96.00 Dan so I'll tell you what it does

How do you turn the lights on in your charts? They're very depressing or maybe you're another Darkness Wannabe with Nicola?

Also, where's your badge?
Well it's bounced up off 96.00 and closed on support but lost TL support which is effectively resistance now. So.....................
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,488
  • Apr 28, 2009 6:12pm Apr 28, 2009 6:12pm
Quoting rgrace
I would not take it for many reasons. 200 pip risk for 200 pip gain IF it makes it to the resistance level at 144.57ish It is bouncing off the 50 and BOSS 20....
Young Mr Grace is back on track again. Good analysis and reasoning.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,489
  • Apr 28, 2009 6:31pm Apr 28, 2009 6:31pm
Hi Strat,

No wonder I am feeling so light lately like walking in the air. Thanks for pulling my leg back down and anchoring it to the learning path.
  • #2,490
  • Apr 28, 2009 7:06pm Apr 28, 2009 7:06pm
Quoting patrick25
Hi Strat,

No wonder I am feeling so light lately like walking in the air. Thanks for pulling my leg back down and anchoring it to the learning path.
But you shouldn't need me to "pull you back down", patrick25. You have to develop your DISCIPLINE and PATIENCE to keep you on The Path. Anyway, I'm very glad you ARE back on The Path of Learning - stay on the path and do not be swayed when you come to the cross roads.

Crossroads - Eric Clapton
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,491
  • Apr 28, 2009 7:25pm Apr 28, 2009 7:25pm
I have added the following for those registered on The Path of Learning:

Five Key Factors which influence the Forex market

Forex Market Hours Monitor

Head and Shoulders Pattern and Target

Keyboard shortcuts for MT4
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,492
  • Apr 28, 2009 7:29pm Apr 28, 2009 7:29pm

Originally Posted by strat http://www.forexfactory.com/images/buttons/viewpost.gif
My line is at 96.00 Dan so I'll tell you what it does

How do you turn the lights on in your charts? They're very depressing or maybe you're another Darkness Wannabe with Nicola?


Well it's bounced up off 96.00 and closed on support but lost TL support which is effectively resistance now. So.....................[/quote]

The 95.50 looks to be major support both on the boss and daily, A close below 95.50 ish for a short as trend for all three is bearish. Below all the MA’s with the 100 holding down on the daily. Retrace around the 98-99 look for PA for break out north or consolidation.


PS i seem to be having problem loading charts....
Yesterday’s regrets and tomorrows dreams are today’s opportunities
  • #2,493
  • Edited 9:18pm Apr 28, 2009 8:31pm | Edited 9:18pm
Quoting AstonDan
Would you guys and gals take this...

Attachment
I have taken it. It may be counter trend but I have a sensible target.
There is of course that big MA to get past as well of course.
Nicola
  • #2,494
  • Apr 28, 2009 8:39pm Apr 28, 2009 8:39pm
Quoting strat
Tonight's The Night - sang the cockney Scotland supporter in 1976

But, will it be your night?
I just made a look through my charts and I don't see any decent trades despite some hammer looking candles. Can you maybe show us an example of what you are seeing.
  • #2,495
  • Apr 28, 2009 11:27pm Apr 28, 2009 11:27pm
Quoting Naws
I just made a look through my charts and I don't see any decent trades despite some hammer looking candles. Can you maybe show us an example of what you are seeing.
You can only trade what YOU see on YOUR charts. What I see on MY charts will not help YOU trade.

You might want to look at the JPY pairs although they have moved quite a bit in Tokyo trading.
15 YEARS OF PASR ON FOREX FACTORY!
  • #2,496
  • Apr 28, 2009 11:51pm Apr 28, 2009 11:51pm
JPY pairs are showing good PA, but I like AUDJPY the most. Reasons:

1- Since Jan 2009 LH was penetrated, and daily shows HL-HH, I believe the trend is north, at the moment.

2- 67.50 SR (looks like it moved to 68 recently, but 67.50 was too obvious between 1993-2003, therefore I am still using it).

3- Trendline support

4- PA - Hammer

5- Reversed at 78.6 fibo ret. of the last upswing

6- Both Daily 50 and Boss 20 are very close to 67.50 SR

7- Very good R:R as target is 72

Now, there is always possibility that the trade may go against us, but waiting patiently for too many confluences to come together increases our rate of success and I believe it is one of the keys.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY - Daily.jpg Size: 127 KB
  • #2,497
  • Apr 29, 2009 12:22am Apr 29, 2009 12:22am
I have a fairly strong resistance at about 70.30 on audjpy. What I would like to know is how do you decide whether to take the trade or not despite the obstacles. To wait for a trade that has no near obstacles is the safest but those trades seem to be very rare and being too conservative will not get you any money. So how do you decide when the obstacles create too much risk to take the trade or when they are within your toilerable risk limit. Perhaps based on pros and cons - like you have 7 reasons to take the trade and 1 reason not to so you would trade it.

I hope you get what I'm saying I kind of rambled
  • #2,498
  • Apr 29, 2009 12:26am Apr 29, 2009 12:26am
Quoting Blackeagle
JPY pairs are showing good PA, but I like AUDJPY the most. Reasons:

1- Since Jan 2009 LH was penetrated, and daily shows HL-HH, I believe the trend is north, at the moment.

2- 67.50 SR (looks like it moved to 68 recently, but 67.50 was too obvious between 1993-2003, therefore I am still using it).

3- Trendline support...
That was a good setup Blackeagle. Probably the best availible right now. I ended up taking USD/JPY for some reason.
Bang.
  • #2,499
  • Edited 3:54am Apr 29, 2009 2:05am | Edited 3:54am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Naws
I have a fairly strong resistance at about 70.30 on audjpy. What I would like to know is how do you decide whether to take the trade or not despite the obstacles. To wait for a trade that has no near obstacles is the safest but those trades seem to be very rare and being too conservative will not get you any money. So how do you decide when the obstacles create too much risk to take the trade or when they are within your toilerable risk limit. Perhaps based on pros and cons - like you have 7 reasons to take the trade and 1 reason not to so you would...
Personnaly and this is only my way, i look to see if there is enough room to grab a few pips before the first area of concern and close out half the position (some work in 3rds) i then move my stop on the rest of the trade up to a BE point, by that i mean i will either use a stop that bring the full trade to break even (1st half wins 50pips, 2nd half stop 50pips below my entry) or i will move the second half to the entry point so the second half is BE and the first half is 50pips profit - this would depend on what S&R i see on my charts. i can then sit back and let the trade run moving the stop using previous S&R or continuation PA indicators.

I don't use any R:R methods to see if the risk is worth it, i find it's better to manage a trade based on whats in front of you.

Just my way - hope it helps or at least gives you something to think about

MPP
  • #2,500
  • Apr 29, 2009 3:51am Apr 29, 2009 3:51am
Quoting Blackeagle
JPY pairs are showing good PA, but I like AUDJPY the most. Reasons:

1- Since Jan 2009 LH was penetrated, and daily shows HL-HH, I believe the trend is north, at the moment.

2- 67.50 SR (looks like it moved to 68 recently, but 67.50 was too obvious between 1993-2003, therefore I am still using it).

3- Trendline support

4- PA - Hammer

5- Reversed at 78.6 fibo ret. of the last upswing

6- Both Daily 50 and Boss 20 are very close to 67.50 SR

7- Very good R:R as target is 72

Now, there is always possibility that the trade may go against us, but...

Bar not quite there for me although I love the level. AJ One of the few bosses that did'nt break down to produce these daily hammers . I would however not allow a loss on this trade and would move stops before days end.

Only sneaked back into the office for a sec I, back for rock and roll in the bluebells directly
GOD IS NOT SHORT OF CASH
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