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  • #128,741
  • Aug 6, 2009 1:26am Aug 6, 2009 1:26am
Quoting fxswing
There is no need to force trades, market will reward patience.
I am totally agree with this kind of attitude...
There is always an opportunity to enter a nice trade...the market isn't going anywhere...
  • #128,742
  • Aug 6, 2009 1:33am Aug 6, 2009 1:33am
Quoting SwissKinseb
me too, my long 4408
I took my entry off 15min bar that closed at 07:00. Already taken 1 Lot off at 1.4418 to help cover costs, should things go wrong.
Good Trading. (keep it simple).
  • #128,743
  • Aug 6, 2009 1:39am Aug 6, 2009 1:39am
i spy a diamond, 2nd half of consolidation. Should have move to 1.4355, small consolidation, and continuation to downside
  • #128,744
  • Aug 6, 2009 1:40am Aug 6, 2009 1:40am
hi
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  • #128,745
  • Aug 6, 2009 1:43am Aug 6, 2009 1:43am
At a point where a lot of tickets will be exchanged. Lets see if the buyers win out or sellers take it down to S1.
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  • #128,746
  • Aug 6, 2009 1:46am Aug 6, 2009 1:46am
Quoting Alihuzaifa
hi
Now i'm awake
  • #128,747
  • Aug 6, 2009 1:49am Aug 6, 2009 1:49am
I posted my daily chart a couple of pages back.....here's what I'm watching in the sorter term.......
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Click to Enlarge Name: 15.gif Size: 12 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #128,748
  • Aug 6, 2009 1:54am Aug 6, 2009 1:54am
Quoting fxswing
Remember that cash is a position too
a very good statement from a no-nonsense trader.

i've been looking for that downward action (retrace, and go long), but nothing seems to nudge it -- negative data, S&P, & commodities. i almost never go against the trend. let's see what happens later.
  • #128,749
  • Aug 6, 2009 1:58am Aug 6, 2009 1:58am
Quoting realjumper
I posted my daily chart a couple of pages back.....here's what I'm watching in the sorter term.......
You can make a diamond by putting tendlines on the opposite side of that triangle, which would give you the direction
  • #128,750
  • Aug 6, 2009 2:02am Aug 6, 2009 2:02am
I am rather seeing a clear Headless Camel Pattern on Daily.

First Leg: 1.3732
Second Leg: 1.3860
Third Leg: 1.3990
Neck(incomplete): From 1.4209 to 1.4438
Full Neck (probable): From 1.4209 to 1.4723
"Head to Toe": From 1.4723 to 1.3576

For those who are not familiar with Headless Camel Pattern:
A Headless Camel is a bullish pattern. Once this forms, neck of the camel becomes the gap (support) and it takes days for the PA to come down to middle of the neck again. These Headless Camels normally have only three legs. Third leg slightly shorter than first two.

Note: Take it seriously at your own risk.
The Thief of Wall Street
  • #128,751
  • Aug 6, 2009 2:03am Aug 6, 2009 2:03am
Quoting SWTRADE
You can make a diamond by putting tendlines on the opposite side of that triangle, which would give you the direction
Thanks, I'll have a look at that, I see my bottom line has been breeched.....wonder if the PA will jump back inside again!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #128,752
  • Aug 6, 2009 2:03am Aug 6, 2009 2:03am
That 1H bar looks bearish and could cause some damage to bulls.
  • #128,753
  • Aug 6, 2009 2:05am Aug 6, 2009 2:05am
Quoting SWTRADE
You can make a diamond by putting tendlines on the opposite side of that triangle, which would give you the direction
Then it's broken out of the diamond, and should approach S1 if it works out.
  • #128,754
  • Aug 6, 2009 2:15am Aug 6, 2009 2:15am
Quoting Atlast
Then it's broken out of the diamond, and should approach S1 if it works out.
yeah, that should be around the first consolidation area. I see a bearish candles formation on 1H (3-7 o'clock, inclusive).
  • #128,755
  • Aug 6, 2009 2:17am Aug 6, 2009 2:17am
Quoting Atlast
Then it's broken out of the diamond, and should approach S1 if it works out.
M15 Triangle / Diamond broken, but maybe we are now in a narrow downward channel. Upper line of the Triangle becomes upper wall (resistance) of this channel. The current PA 1.4395 right in the middle of this channel.

If 1.4380/5 becomes double bottom, may provide support to break upper wall of this narrow channel in few hours.
The Thief of Wall Street
  • #128,756
  • Edited 2:18am Aug 6, 2009 2:18am | Edited 2:18am
Quoting SWTRADE
yeah, that should be around the first consolidation area. I see a bearish candles formation on 1H (3-7 o'clock, inclusive).
The breakout of my triangle is unconvincing at the moment.....I want to see a new candle form outside the triangle before I'm going to take the bait!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #128,757
  • Aug 6, 2009 2:20am Aug 6, 2009 2:20am
Quoting Chicky
I am rather seeing a clear Headless Camel Pattern on Daily.

First Leg: 1.3732
Second Leg: 1.3860
Third Leg: 1.3990
Neck(incomplete): From 1.4209 to 1.4438
Full Neck (probable): From 1.4209 to 1.4723
"Head to Toe": From 1.4723 to 1.3576

For those who are not familiar with Headless Camel Pattern:
A Headless Camel is a bullish pattern. Once this forms, neck of the camel becomes the gap (support) and it takes days for the PA to come down to middle of the neck again. These Headless Camels normally have only three legs. Third leg...

i am planning to invent headless chicken pattern
  • #128,758
  • Aug 6, 2009 2:23am Aug 6, 2009 2:23am
Quoting Alihuzaifa
i am planning to invent headless chiken pattern
Ali, forget this post for a while and focus on my post after that one.

We may be in a narrow channel now. Such channels normally break very easily to upside.
The Thief of Wall Street
  • #128,759
  • Aug 6, 2009 2:24am Aug 6, 2009 2:24am
Quoting realjumper
The breakout of my triangle is unconvincing at the moment.....I want to see a new candle form outside the triangle before I'm going to take the bait!!
I see your point. I think it will work, we were just looking at the wrong breakout. I think this might be the start of the move
  • #128,760
  • Aug 6, 2009 2:24am Aug 6, 2009 2:24am
Quoting SWTRADE
i spy a diamond, 2nd half of consolidation. Should have move to 1.4355, small consolidation, and continuation to downside
Exactly what I am seeing it ,diamond in a diamond,they mostly break down big if not invalidate & go up .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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