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Damion's Tribute

  • #341
  • Jul 30, 2009 9:42am Jul 30, 2009 9:42am
Quoting aftab
Not good enough as yet but will be there soon...

I am looking at the Gartley forming once price has gone up a bit or else we always have the test of the trendline, but it I am looking for a clean trade.

Could probably find one on the lower charts...

You could also use it for a break out.
There was no bullish ABCD formed. When that happens, price has usually not change course. That is why I mentioned break out.

I quickly drew the up trendline on the 30 mins, waited for it to break, then our daily trendline, put the stop just above the daily, and pulled the trigger.

Price does not always test and retest. Breaking a small trendline and then a large one is like a test and a retest.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29-07-09 - 01 - 240 Mins Chart - Bullish Gartley.jpg Size: 144 KB
Click to Enlarge Name: 30-07-09 - 01 - 30 Mins Chart - Bullish Gartley.jpg Size: 139 KB
Click to Enlarge Name: 30-07-09 - 01 - 30 Mins Chart - Bullish Gartley Failed.jpg Size: 150 KB
AFTAB Time Will Tell & Price Will Show
  • #342
  • Jul 30, 2009 9:58am Jul 30, 2009 9:58am
Quoting aftab
Option #2 played out well.

Chart updated - Profit 1 reached as I post.
Somebody asked me why I did not pull the fibs from the higher high. The reason I did not do it, was because I want to take profits before the trendline.

Also the pound gives you a gift (the profits one can make) in a day that other currencies give you in a week but it can take it away from you in a minute as well. My R:R was met, I am happy and out.
AFTAB Time Will Tell & Price Will Show
  • #343
  • Jul 30, 2009 10:21am Jul 30, 2009 10:21am
This is only a probability, but the reason I post it is to show how beautifully harmonics works with trendlines.

Again only a probability...
Attached Image (click to enlarge)
Click to Enlarge Name: 30-07-09 - 01 - 240 Mins Chart - Profit Target.jpg Size: 152 KB
AFTAB Time Will Tell & Price Will Show
  • #344
  • Jul 30, 2009 11:55am Jul 30, 2009 11:55am
Quoting aftab
Not keen on trading it above the 61.8% but nice confluence at the 70.7%. Might miss it but worth the wait.

The trendlines are daily.
This baby is really struggling.

Has not moved at all since the last post.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 29-07-09 - 01 - 240 Mins.jpg Size: 155 KB
Click to Enlarge Name: 30-07-09 - 01 - 240 Mins.jpg Size: 154 KB
AFTAB Time Will Tell & Price Will Show
  • #345
  • Jul 30, 2009 11:59am Jul 30, 2009 11:59am
Double bearish Gartlies...maybe
Attached Image (click to enlarge)
Click to Enlarge Name: 30-07-09 - 01 - Daily Chart.jpg Size: 146 KB
AFTAB Time Will Tell & Price Will Show
  • #346
  • Jul 30, 2009 5:11pm Jul 30, 2009 5:11pm
Quoting aftab
There was no bullish ABCD formed. When that happens, price has usually not change course. That is why I mentioned break out.

I quickly drew the up trendline on the 30 mins, waited for it to break, then our daily trendline, put the stop just above the daily, and pulled the trigger.

Price does not always test and retest. Breaking a small trendline and then a large one is like a test and a retest.
Maybe... the test of the trendline (rear).
Attached Image (click to enlarge)
Click to Enlarge Name: 30-07-09 - 01 - 2400 Mins Chart - Bullish Gartley.jpg Size: 170 KB
AFTAB Time Will Tell & Price Will Show
  • #347
  • Jul 30, 2009 5:30pm Jul 30, 2009 5:30pm
Trendline broken.

A probable test of the rear of the trendline and the upper trendline...only a probability.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30-07-09 - 02 - Daily Chart - Update.jpg Size: 151 KB
Click to Enlarge Name: 30-07-09 - 02 - 240 Mins Chart - Update.jpg Size: 158 KB
Click to Enlarge Name: 30-07-09 - 02 - 240 Mins Chart - Bearish Gartley.jpg Size: 165 KB
AFTAB Time Will Tell & Price Will Show
  • #348
  • Jul 31, 2009 12:22am Jul 31, 2009 12:22am
This is a similar setup as with CJ trade. Thought the R:R was really worth a position.

Price has broken through the up trend line, expecting a test of the trendline as a bounce forming a king crown's pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
  • #349
  • Jul 31, 2009 12:31am Jul 31, 2009 12:31am
Quoting httham
This entry was taken earlier. A break and test of the daily CJ followed by an evening star formation, so from there my bias is short. I then switch to lower draw counter TL and pick my entry on the break and test of the counter TL preferbly at fib level followed by reversal candle pattern. I also took an identical trade on EJ.
Really like the way u handled this trade. =)
  • #350
  • Jul 31, 2009 9:42am Jul 31, 2009 9:42am
Trading with Damion today we decide to trade the consolidation on the usdchf. The first thing we notice is that the consolidation favors the daily trend(short) seeing that its at the top of the range so we decide to look for sell opportunities. On the 1H we draw a counter up TL which breaks then the market returns to test at the fibonacci 61.8 then formed an engulfing bearish candle and that was our entry. Very simple. Also note that that we could decide to sell at the very top but he choose to wait and it pans out as we expected. See charts below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USdaily.gif Size: 18 KB
Click to Enlarge Name: us1h.gif Size: 19 KB
  • #351
  • Jul 31, 2009 11:43am Jul 31, 2009 11:43am
Quote
Trading with Damion today we decide to trade the consolidation on the usdchf. The first thing we notice is that the consolidation favors the daily trend(short) seeing that its at the top of the range so we decide to look for sell opportunities. On the 1H we draw a counter up TL which breaks then the market returns to test at the fibonacci 61.8 then formed an engulfing bearish candle and that was our entry. Very simple. Also note that that we could decide to sell at the very top but he choose to wait and it pans out as we expected. See charts below....

Good that u guyz saw it! honestly, we have been in a specific trading range in GU,EU and swissy for weeks now. and the range determines the trend.

Good trade there!

the range has given so many pips for those who can be patient to trade it.

wow! Damion knows that trading style is one of my favorite!
my regards to him

I miss our trading days in the room!
  • #352
  • Jul 31, 2009 5:38pm Jul 31, 2009 5:38pm
Quoting httham
Trading with Damion today we decide to trade the consolidation on the usdchf. The first thing we notice is that the consolidation favors the daily trend(short) seeing that its at the top of the range so we decide to look for sell opportunities. On the 1H we draw a counter up TL which breaks then the market returns to test at the fibonacci 61.8 then formed an engulfing bearish candle and that was our entry. Very simple. Also note that that we could decide to sell at the very top but he choose to wait and it pans out as we expected. See charts below....
Nicely executed httham.
AFTAB Time Will Tell & Price Will Show
  • #353
  • Aug 1, 2009 1:03am Aug 1, 2009 1:03am
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting aftab
Trading is a probability my friend, nothing works 100%.

I hope your daughter is keeping you awake...
LOL.I m awake most of the time.She does keeps me awake...LOL
Cant disagree with you on that one bro.Keep up the good work Aftab.I ll post when I can.So I catch you later.

Cheers.
  • #354
  • Aug 1, 2009 1:11am Aug 1, 2009 1:11am
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Quoting httham
Trading with Damion today we decide to trade the consolidation on the usdchf. The first thing we notice is that the consolidation favors the daily trend(short) seeing that its at the top of the range so we decide to look for sell opportunities. On the 1H we draw a counter up TL which breaks then the market returns to test at the fibonacci 61.8 then formed an engulfing bearish candle and that was our entry. Very simple. Also note that that we could decide to sell at the very top but he choose to wait and it pans out as we expected. See charts below....
Cool.
Come to think of it,the evening star in the higher tf such as your the daily in your chart, is the Tripple buddha/King Crown in the Lower TF.
That is how I see it now.This is my favourite too Mike...LOL
Learning is so slow for me but what I got from this thread is quality.
Thanks guys I hope you all have a great weekend.

p.s any comment on the new NFA regulation regarding SL and TP?
  • #355
  • Aug 2, 2009 8:34am Aug 2, 2009 8:34am
  •  Nimrod
  • | Joined Oct 2008 | Status: Energy and persistence conquer all | 168 Posts
Hi friends,
I like to inform you all that Dra is back.I hope he showered his blessing to this thread.
cheers.Lots of cheers.
  • #356
  • Aug 5, 2009 4:03pm Aug 5, 2009 4:03pm
There haven't been many pullbacks to trade this week from what I've seen.
However, I do have my eye on a potential long term Butterfly set-up. This isn't in line with any specific TL, but there seems to be some nice confluence of levels in conjunction with the timing of a major news release day.
The Butterfly is supposed to be a great reversal pattern, so that would fit as well. The fib levels are just a few pips from being an ideal butterfly.
Almost forgot the major psychological level of 1.4500.
Attached Image (click to enlarge)
Click to Enlarge Name: AB=CD.png Size: 50 KB
  • #357
  • Aug 6, 2009 12:16am Aug 6, 2009 12:16am
Hi finswin56,

Bearish gartley.

Watch for the 88.6 retracement and the last ABCD with the first ABCD confluencing with the 88.6% and your 127% is also there.

Nice confluence
Attached Image (click to enlarge)
Click to Enlarge Name: EUR.jpg Size: 163 KB
AFTAB Time Will Tell & Price Will Show
  • #358
  • Aug 10, 2009 7:30pm Aug 10, 2009 7:30pm
I hope everyone is doing okay. This thread has certainly slowed down in the last week or so.

EUR/USD looks to have a very nice ABCD setup right now. I have a limit buy set above the price rejection at 78.6 ret. There's a lot of other Fib confluence in this area too. I'm not too sure about EUR/USD making new highs, so I'll probably take most profit before 4300. That has been significant s/r in the past, and is about 50 of the move down from the NFP Friday.
Attached Image (click to enlarge)
Click to Enlarge Name: AB=CD.png Size: 50 KB
  • #359
  • Aug 11, 2009 4:11am Aug 11, 2009 4:11am
finswin56,

Could you mark your ABCD on your chart. Cannot see one for a buy.

Thanks.
AFTAB Time Will Tell & Price Will Show
  • #360
  • Aug 11, 2009 5:47am Aug 11, 2009 5:47am
Quoting aftab
finswin56,

Could you mark your ABCD on your chart. Cannot see one for a buy.

Thanks.
Sure. This is what I see.
Attached Image (click to enlarge)
Click to Enlarge Name: AB=CD.png Size: 56 KB
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