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Daily candle chart

  • #9,741
  • Nov 22, 2009 7:35pm Nov 22, 2009 7:35pm
Quoting Coop

When i see a price action bar that aligns with my trading plan i never blind trade it. I always wait for the bar to break to trigger into it. This means the trade must be moving my way for it to trigger.

coop
Hi coop

I am (a newbie) acquiring the PA. Can you share by posting some charts to better understanding what you meant above? Thank you for your time.
  • #9,742
  • Nov 22, 2009 8:39pm Nov 22, 2009 8:39pm
Quoting fxmatahari
Hi coop

I am (a newbie) acquiring the PA. Can you share by posting some charts to better understanding what you meant above? Thank you for your time.
Its just basic price action trading, nothing special. The attached chart are just cherry picked examples not representing real trades, just picked for this explanation. The bar with the red arrow is a setup bar but as the bar low did not break then no trade would be entered.

The blue arrow is a setup bar also and the bar high was broken so a trade is entered, thats it.

coop
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 25 KB
  • #9,743
  • Nov 23, 2009 12:20am Nov 23, 2009 12:20am
hi baz and all!

can I ask you to have a look at gold?

trend is so strong, do you think there's room for a retracement?
  • #9,744
  • Nov 23, 2009 9:41am Nov 23, 2009 9:41am
Quoting nAVIN2007
my friend the only thing that can stop u is u..honestly i have been in this thread quite a while and u have been nailing it all the way..trust yourself and the sky will be the limit!

that kind of remind my star wars...the force is strong with u..hehe
love that "the force is strong with you" !

Glad to see your still at it Navin
May the fish in your stream of life always bite.
  • #9,745
  • Nov 23, 2009 10:51am Nov 23, 2009 10:51am
Quoting fammira
hi baz and all!

can I ask you to have a look at gold?

trend is so strong, do you think there's room for a retracement?
hi Famira
i have never looked at GOLD,and hence am not right person to comment,perhaps Jhon,Tony or any senior trader may be able to guide you.......sorry couldnt be useful

baz
  • #9,746
  • Nov 23, 2009 12:04pm Nov 23, 2009 12:04pm
Quoting fammira
hi baz and all!

can I ask you to have a look at gold?

trend is so strong, do you think there's room for a retracement?
Hi fammira!

Don't try to pick tops on Gold, I haven't see any reversal pattern yet, you're right, Gold is OB in all TF's from 1h to Monthly, but trade with the main trend, is better and safer! IMHO!

Btw, I see a huge monthly bearish divergence, but this sort of stuff take time to play out!

Attached Image (click to enlarge)
Click to Enlarge Name: goldmbeardiv.gif Size: 16 KB


Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,747
  • Edited 10:41pm Nov 23, 2009 9:20pm | Edited 10:41pm
thank you baz and john,

I also see the divergence, and though is still early to bet big against it, I will try to short with a minilot around 1165 with stop on sustained trade above yesterday london session's highs (1166/67)

if it does not break that short term trendline or is capped below 1167, it might pullback some

john do you have any idea on the candlestick formation pattern on the 4H chart?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15M tl.jpg Size: 99 KB
Click to Enlarge Name: 4h.jpg Size: 94 KB
  • #9,748
  • Edited 3:43pm Nov 24, 2009 11:33am | Edited 3:43pm
Dear Seniors,

I have been the silent reader of this excellent thread,
along with Candle Stick analyze ,
I want to share my thought on Gold recent movements.
as you see on the chart, the previous $1032.5 top and its down move trend to $681.40 have
2 obvious FIB_EXPANTION in Yellow and Red ( targets of each : FE %161.8 )
now please consider the up move FIB_EXPANTION in whitegray.
I think the first target of gold is $1189(FE %100.0) and the last Target is $1390(FE %161.8) , before the down move wave starting.
what do you think ?
thanks a lot.

OTR
Attached Image (click to enlarge)
Click to Enlarge Name: gold_1w_091124_2050_sol_1.gif Size: 29 KB
  • #9,749
  • Nov 24, 2009 7:06pm Nov 24, 2009 7:06pm
Quoting fammira
thank you baz and john,

I also see the divergence, and though is still early to bet big against it, I will try to short with a minilot around 1165 with stop on sustained trade above yesterday london session's highs (1166/67)

if it does not break that short term trendline or is capped below 1167, it might pullback some

john do you have any idea on the candlestick formation pattern on the 4H chart?
Hi
Can you share how I can identify a divergence with candlestick patterns?
BTW I am a newbie acquiring TA/PA now.
Thank you.
  • #9,750
  • Nov 25, 2009 1:43am Nov 25, 2009 1:43am
absolutely agree on the road gold is respecting expansions ,since there is no support and res to work off ,absolutely amazing rise it is,even with the $ low holding for the mo

Quoting OnTheRoad
Dear Seniors,

I have been the silent reader of this excellent thread,
along with Candle Stick analyze ,
I want to share my thought on Gold recent movements.
as you see on the chart, the previous $1032.5 top and its down move trend to $681.40 have
2 obvious FIB_EXPANTION in Yellow and Red ( targets of each : FE %161.8 )
now please consider the up move FIB_EXPANTION in whitegray.
I think the first target of gold is $1189(FE %100.0) and the last Target is $1390(FE %161.8) , before the down move wave starting.
what do you think ?
thanks a lot.

OTR...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,751
  • Nov 25, 2009 2:46pm Nov 25, 2009 2:46pm
Quoting baz
1.4800 is in the way at present,see what EOD brings...just my humble thoughts

baz

EUR_USD Spot.png
well 1.4800 was a solid support level,more gains on the way ??....there were plenty of opportunities on LTF for LONG entry around 1.4800
might be quite next 2 days ,until monday...
have a great TGH to all who celebrate it......

baz
EUR_USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD Spot.png Size: 11 KB
  • #9,752
  • Edited 4:56pm Nov 25, 2009 3:53pm | Edited 4:56pm
yep 4800 tested many times in consolidation range and $ support broke,5300 seems logical target
Just wonded Baz how do you find drawing tl through close ?as you have adopted
Attached Image (click to enlarge)
Click to Enlarge Name: eur usd 25th nov.gif Size: 14 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,753
  • Edited 4:23pm Nov 25, 2009 4:06pm | Edited 4:23pm
Interestingly gaped right over my stop (and tl)trade still running on open so ended up with loss ,not sure how real gap is but probably one there somewhere 1200 is nice round number but most probably 1500 on cards longer term
Trend quite remarkable ,reminds me of oil ,when actual sell signal comes could be just like oil hopefully...on monthly


Quoting Bones
well odl is closed and lower trades taken at be ,trend is strong,got caught out with tl break I thought was real , anyway lower wicks on daily ,I think ,without d1 close above the trend is unsustainable without correction
chart from sig ,probably gonna need a gap down,just to keep in trade as is which is short at 1150 on the nose
Attached Image (click to enlarge)
Click to Enlarge Name: gold d1 25th nov 09.gif Size: 10 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,754
  • Nov 25, 2009 4:52pm Nov 25, 2009 4:52pm
Quoting Bones
yep 4800 tested many times in consolidation range and $ support broke,5300 seems logical target
Just wounded Baz how do you find drawing tl through close ?as you have adopted
Hi tony
I used to use them previously......but i think ,just use BOTH...you will see the LINE that prices react with...some times both the lins get tested.....
I still BELIVE STRONGLY in SUPPORT and RESSISTANCE over TRENDLINES,although TrendLines are BETTER able to SHOW the DOMINANT trend....
Horses for courses i guess......DECEMBER should be intresting
Tony have a look at DANs thread,he began using moving averages and TREND TRADING on DAILY charts,but now has dropped the MAs and just TRADES in the direction of the trends...and also has a good way off entering trades and MM..
he clears around 1200 pips a month..
you will like it i think( now which other thread i said that about as well !!! )

http://www.forexfactory.com/showthre...14#post3260414

take care

baz
  • #9,755
  • Nov 25, 2009 5:04pm Nov 25, 2009 5:04pm
Quoting Bones
yep 4800 tested many times in consolidation range and $ support broke,5300 seems logical target
Just wonded Baz how do you find drawing tl through close ?as you have adopted
notice on CABLE Tony...i used RED as anormal TRENDLINE,and the BLUE one is used as the CLOSING prices TRENDLINE,see what happened at the INTERSECTION...better seen on lower TF,and an earlier entry as well...

GBP_USD Spot.png

baz

ps look where the PRICES bounced off on FRIDAY/MONDAY and also notice another ,although i would say unconfirmed DOTTED GRAY RISING TRENDLINE
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 13 KB
  • #9,756
  • Nov 25, 2009 5:06pm Nov 25, 2009 5:06pm
Yes of course ,Baz ,as all trading what works for you as a trader is cool ,theres obviously some merit in the strategy as say with demark on fractal point trendlines
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,757
  • Nov 25, 2009 5:09pm Nov 25, 2009 5:09pm
ill defiantly look over at Dans thanks Baz
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,758
  • Nov 25, 2009 5:13pm Nov 25, 2009 5:13pm
hi baz

what are the colors pink and green graph-liked in your trading?
how to use it to benefit trading?
hope you will share some lights.
thank you.
  • #9,759
  • Nov 25, 2009 5:15pm Nov 25, 2009 5:15pm
Quoting Bones
Yes of course ,Baz ,as all trading what works for you as a trader is cool ,theres obviously some merit in the strategy as say with demark on fractal point trendlines
yes,it s your way and methods that will bring success...one last one,HUSSIN would kill me BUT ....i hope he wont mind...
1 Hr TF...LOOK WHERE PRICES got CAPPED today..at the intersection off a RESSISTANCE GREEN LINE and THE BLUE TREND line,both drawn on HTFs..

GBP_USD Spot.png

apologies this not in the scope of this thread...sorry

baz
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 18 KB
  • #9,760
  • Nov 25, 2009 5:17pm Nov 25, 2009 5:17pm
2.5500 is significant on eurlfx ,still in range,im struggling to get a direction on eur as it has been flat for so long on monthly
Attached Image (click to enlarge)
Click to Enlarge Name: eur lfx w1 25th nov 09.gif Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
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