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  • #6,201
  • Oct 8, 2009 9:56pm Oct 8, 2009 9:56pm
Quoting CrudeCraig
I don't see 81.50 as anything too important, other than it is the bar lows from the move down last September.

84 is the next Major level on my charts.
Interesting. I might have got all wrong for the understanding of Support and Resistance. How to differentiate which 1s are important and which 1s aren't. Gotta work on that.

Having said that, would it be better to consider a long only after price close above 81.50,with PASR. Instead of 80.46?

Thanks
Sean
Discipline is PRIMARY, Method is Secondary.....
  • #6,202
  • Edited 10:23pm Oct 8, 2009 10:08pm | Edited 10:23pm
Quoting Dabestone
Interesting. I might have got all wrong for the understanding of Support and Resistance. How to differentiate which 1s are important and which 1s aren't. Gotta work on that.

Having said that, would it be better to consider a long only after price close above 81.50,with PASR. Instead of 80.46?

Thanks
Sean
Pull up a weekly chart and zoom out, levels that have been touched before many times are the major levels. Anything between these major levels are minor levels that may be fine tuned on the daily charts.

I see any good pullback to 80 with PA as a good trade but thats just me.


See an earlier post of mine Herehttp://www.forexfactory.com/showpost...postcount=4758
  • #6,203
  • Oct 8, 2009 11:50pm Oct 8, 2009 11:50pm
Quoting CrudeCraig
Pull up a weekly chart and zoom out, levels that have been touched before many times are the major levels. Anything between these major levels are minor levels that may be fine tuned on the daily charts.

I see any good pullback to 80 with PA as a good trade but thats just me.


See an earlier post of mine Herehttp://www.forexfactory.com/showpost...postcount=4758
Thanks Craig
Discipline is PRIMARY, Method is Secondary.....
  • #6,204
  • Oct 9, 2009 12:31am Oct 9, 2009 12:31am
Attached Image (click to enlarge)
Click to Enlarge Name: audusd2.JPG Size: 184 KB


How can you not love this pair?

A look at previous resistance shows that it should be still be good until 0.9300 at least.

Unfortunately some little gremlins got in my head when I was analyzing this pair and I didn't place an order. I have this problem sometimes, I get scared to place an order even when its a good setup, but oh well I am working on it and there will be more opportunities
  • #6,205
  • Oct 9, 2009 12:37am Oct 9, 2009 12:37am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 185 KB


Does this seem like a decent opportunity for an atm trade to the next support?

The shooting star has definitely found resistance but the choppy PA of the past 2 weeks doesn't seem that good.
  • #6,206
  • Oct 9, 2009 3:31am Oct 9, 2009 3:31am
Hello Strat and Everyone,

Although I have not been posting that much on this thread, the reason is that I have not managed to finish reading - still @ page-225; i however would like to make a contribution on what I think about euro. I hope my analysis make sense:

The first chart is the BOSS, euro is currently struggling to break the resistance @ 1.4808 and struggling to sustain the break of 61.8% fib retracement of the downtrend from August 2008. The shooting star formation is showing price might turn at this level of resistance. Untill we have a break above the 20/09/09 candle i will not consider any long trade.

While the immediate trend is up - 20ema and the DSRI holding, I would consider selling the WORKER if price break and close below the BOSS' DSRI.

Now on the WORKER, if price break below the DSRI, I will look to sell and hold till the next support level @ 1.4418.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Euro_Weekly.png Size: 63 KB
Click to Enlarge Name: Euro_Daily.png Size: 47 KB
  • #6,207
  • Oct 9, 2009 4:52am Oct 9, 2009 4:52am
After getting rid of all my indics, I must confess I feel a bit like a dog in a bowling alley .

One thing I have noticed is that most pairs seem to be trading in lower volume, with the big exception of usd/yen, which looks like a battle ground down there, volume bars against price bars.

Spinner

O fool is a fool who doesn't know he is a fool
Spinner 'Tis in the Waiting.....
  • #6,208
  • Oct 9, 2009 7:27am Oct 9, 2009 7:27am
Quoting elitejets
It keeps going until ....
(there are more buyers than sellers, hehe)
Hi Nic,

Yes, this one is good. I am also in this trade.

Just wondering, when there is no history to go by, how do we select a target to exit at? Or let it go until price 'stops going down and starts going up' ? (thanks to Dr. Joe).

What is your exit target?

Pandu
  • #6,209
  • Oct 9, 2009 8:12am Oct 9, 2009 8:12am
Quoting Spinner
After getting rid of all my indics, I must confess I feel a bit like a dog in a bowling alley .

One thing I have noticed is that most pairs seem to be trading in lower volume, with the big exception of usd/yen, which looks like a battle ground down there, volume bars against price bars.

Spinner

O fool is a fool who doesn't know he is a fool
i agree with you
Success consists of going from failure to failure without loss of enthusiam
  • #6,210
  • Oct 9, 2009 8:14am Oct 9, 2009 8:14am
Hello all ,


I wanted to post my first chart for review, Comments and criticism welcome. I was
wondering about my DSRI. 2 questions.

1. Is it placed correctly on the weekly?

2. Why does it seem to move on the worker? I first draw it on the boss at the tops of the bodys, but on the worker it barely touches the wicks.

Thanks for any input, I appreciate all that Strat and all the other great minds are posting here. Just trying to absorb all I can!

Poncho
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad boss.gif Size: 23 KB
Click to Enlarge Name: cad worker.gif Size: 22 KB
" I can read the left side of the chart, the right side's a Bitch!
  • #6,211
  • Oct 9, 2009 11:06am Oct 9, 2009 11:06am
Quoting CrudeCraig
We have a break out of the down TL on CJ, Next stop should take us to 86.
That was Quick!
  • #6,212
  • Oct 9, 2009 11:09am Oct 9, 2009 11:09am
Quoting poncho1
Hello all ,


I wanted to post my first chart for review, Comments and criticism welcome. I was
wondering about my DSRI. 2 questions.

1. Is it placed correctly on the weekly?

2. Why does it seem to move on the worker? I first draw it on the boss at the tops of the bodys, but on the worker it barely touches the wicks.

Thanks for any input, I appreciate all that Strat and all the other great minds are posting here. Just trying to absorb all I can!

Poncho

You must draw your DSRI on the TF you intend to trade from, each TF will have different points on the chart where the swings will start and end.
  • #6,213
  • Oct 9, 2009 1:10pm Oct 9, 2009 1:10pm
Quoting Naws
Attachment

Does this seem like a decent opportunity for an atm trade to the next support?

The shooting star has definitely found resistance but the choppy PA of the past 2 weeks doesn't seem that good.
Oh yes!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,214
  • Oct 9, 2009 1:14pm Oct 9, 2009 1:14pm
Quoting femfam
Hello Strat and Everyone,

Although I have not been posting that much on this thread, the reason is that I have not managed to finish reading - still @ page-225; i however would like to make a contribution on what I think about euro. I hope my analysis make sense:

The first chart is the BOSS, euro is currently struggling to break the resistance @ 1.4808 and struggling to sustain the break of 61.8% fib retracement of the downtrend from August 2008. The shooting star formation is showing price might turn at this level of resistance. Until we have...
DSRI demand lines are incorrectly drawn. Pay attention to and focus more on PASR.
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,215
  • Oct 9, 2009 1:16pm Oct 9, 2009 1:16pm
Quoting Spinner
After getting rid of all my indics, I must confess I feel a bit like a dog in a bowling alley .

One thing I have noticed is that most pairs seem to be trading in lower volume, with the big exception of usd/yen, which looks like a battle ground down there, volume bars against price bars.

Spinner

O fool is a fool who doesn't know he is a fool
Good lad but how do you know ""be trading in lower volume, with the big exception of usd/yen, which looks like a battle ground down there, volume bars against price bars.""
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,216
  • Oct 9, 2009 3:33pm Oct 9, 2009 3:33pm
[quote=Sinan;3130766]Hi Strat,

Here's a crack at EURGBP will start with the BOSS:

[quote]

Update :

BOSS - The shooting star is no more and we close with a break of the supply line (shows the importance of waiting until the close). Very bullish going into next week.

WORKER - Cup and handle continuation pattern confirmed with a breakout. I have not studied the reliability of pattern targets but the completed cup with handle pattern indicates to me an initial target to 0.96 on the breakout.

GBP looks like it will be taking a beating next week.

I don't have a position on EURGBP at the moment...my risk was focused on that AUDJPY breakout. Will stick with my original plan with an order at that level.
Hope is not a trading strategy
  • #6,217
  • Oct 9, 2009 5:52pm Oct 9, 2009 5:52pm
Quoting CrudeCraig
That was Quick!
You can't beat a Quickie, Craig!
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,218
  • Oct 9, 2009 5:53pm Oct 9, 2009 5:53pm
AB = CD
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 31 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #6,219
  • Edited 6:24pm Oct 9, 2009 6:08pm | Edited 6:24pm
[quote=Sinan;3134475]
Quoting Sinan
Hi Strat,
WORKER - Cup and handle continuation pattern confirmed with a breakout. I have not studied the reliability of pattern targets but the completed cup with handle pattern indicates to me an initial target to 0.96 on the breakout.
What is a cup and handle pattern? Very bullish bar today closing at the exact point of the previous swing high. I would put the next likely target at 0.9500 because there is strong resistance at that level before 0.9600
  • #6,220
  • Oct 9, 2009 7:13pm Oct 9, 2009 7:13pm
[quote=Naws;3134624]
Quoting Sinan
What is a cup and handle pattern? Very bullish bar today closing at the exact point of the previous swing high. I would put the next likely target at 0.9500 because there is strong resistance at that level before 0.9600
Here is a link to the pattern : http://stockcharts.com/school/doku.p...th_handle_cont

I heard about the pattern last week for the first time and need to spend more time reviewing historical charts to find past examples and how they worked out. It seems to be mostly applied to stocks but in terms of longer term price action and the battle between supply and demand my initial thoughts (and I need to look into the pattern more) are that it is a sign of very strong demand pushing against a very key resistance level, when the resistance level breaks you get a significant move.

Perhaps I see a larger formation of the pattern on the crude chart at the moment...I will spend some time looking at this over the weekend.

Please slap me down if this is way off track it was just interesting to see this in the chart...
Hope is not a trading strategy
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