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Chart patterns and trendline discussion....

  • #141
  • Feb 16, 2010 11:27pm Feb 16, 2010 11:27pm
strong resistance on g/u as well
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  • #142
  • Feb 16, 2010 11:32pm Feb 16, 2010 11:32pm
Quoting swingtrader
strong resistance on g/u as well

Nice clean chart...really like how your following the price around with your trendlines...keep em coming....

just curious...my apologies if am being to intrusive...but will you be taking that postion?
  • #143
  • Feb 16, 2010 11:36pm Feb 16, 2010 11:36pm
Quoting mf036ml
Nice clean chart...really like how your following the price around with your trendlines...keep em coming....

just curious...my apologies if am being to intrusive...but will you be taking that postion?
extremely sorry,but wont be able to disclose any positions.i hope you understand.
  • #144
  • Feb 16, 2010 11:41pm Feb 16, 2010 11:41pm
Quoting swingtrader
extremely sorry,but wont be able to disclose any positions.i hope you understand.

hey no problem, whatever your comfortable with contributing....still good to have you here...

best of luck to you...
  • #145
  • Feb 17, 2010 12:16am Feb 17, 2010 12:16am
hello swingtrader,

sorry i' am late to welcome you. welcome. glad you're to be here
  • #146
  • Feb 17, 2010 12:41am Feb 17, 2010 12:41am
Quoting morethanezra
hello swingtrader,

sorry i' am late to welcome you. welcome. glad you're to be here
Hello morethanezra.

thankyou for warm welcome
  • #147
  • Feb 17, 2010 1:40am Feb 17, 2010 1:40am
i hope this would be nice entry. waiting for other's comment, please.
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  • #148
  • Feb 17, 2010 2:31am Feb 17, 2010 2:31am
hi, mf036ml !

maybe in future u may consider saving "Save picture as " as Active chart (as is) or Active chart ....and u can resize ur chart window to give it better clarity while posting ur chart ... feels no need for the entire page to be put up ... just a thought ..
  • #149
  • Feb 17, 2010 10:38am Feb 17, 2010 10:38am
update on EU
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  • #150
  • Feb 17, 2010 10:45am Feb 17, 2010 10:45am
update on GU
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  • #151
  • Feb 17, 2010 1:08pm Feb 17, 2010 1:08pm
Quoting TheArcher
hi, mf036ml !

maybe in future u may consider saving "Save picture as " as Active chart (as is) or Active chart ....and u can resize ur chart window to give it better clarity while posting ur chart ... feels no need for the entire page to be put up ... just a thought ..

TheArcher,

Welcome and thanks for the suggestion..I had originally tried that but it would save it to excel and wouldnt work...However, I tried it and changed the file ext. to jpg. and definetly much , much better...


Thanks
  • #152
  • Feb 17, 2010 2:31pm Feb 17, 2010 2:31pm
Quoting swingtrader
update on GU

swingtrader,

Really appreciate the charts....hope you continue to post them for perspective...

Thanks,
  • #153
  • Feb 17, 2010 5:31pm Feb 17, 2010 5:31pm
Ok, am reaching that point where am starting to feel a bit frustrated and overwhelmed....

this is my 4 hr chart....what exactly should this tell me?

thearcher,( thats not working me for me for some reason...beleive me am not thrilled about having to post my entire desktop on here every time i put up a chart...but it will have to do for now till i figure it out...
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  • #154
  • Feb 17, 2010 7:37pm Feb 17, 2010 7:37pm
@swingtrader

your charts are sick!

spot on points like that using the cleanest of charts... man, please post the thought process to get there
  • #155
  • Feb 17, 2010 8:11pm Feb 17, 2010 8:11pm
well, i got this. first on ej, fall then meet minor support
second on gu, it find support too.
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Click to Enlarge Name: gu.gif Size: 23 KB
  • #156
  • Feb 17, 2010 9:05pm Feb 17, 2010 9:05pm
Quoting mf036ml
Ok, am reaching that point where am starting to feel a bit frustrated and overwhelmed....

this is my 4 hr chart....what exactly should this tell me?

thearcher,( thats not working me for me for some reason...beleive me am not thrilled about having to post my entire desktop on here every time i put up a chart...but it will have to do for now till i figure it out...
Sometimes it is easier to look on a higher time frame to get your bearings. The first chart is EURUSD Monthly. It shows an up trend, with a lower high and price at support. Then weekly, similarly to the monthly, up trend & lower high at support. That's your long term, now lets look a little shorter, the Daily. I see a down trend that is testing that support for the third time. Note I said third time. The is no such thing as a 'triple bottom', but what pattern can give the appearance of 3 bottoms? OK, now look at the 4hr. Does it look differently to you? Remember, patterns form around S&R levels. So far I see a left shoulder, head and the start of the right shoulder (note the wedge, this is typical for the right shoulder). Has it completed yet? No, but make special note of the MACD I included. I know alot of folks preach 'clean' charts. But employed properly, indicators can give you a heads. Unfortunately, most people solely use studies to make decisions. They are tools to AID in the decision process. Combined with price action, they can be very powerful. This is just my opinion, I'm sure others would see things differently.

Now while knowing all of this may not tell you what to do (depending on how aggressive you are), it can tell you what might occur, allowing you to plan ahead. Hope this helps. For the time being, if you can, just observe, watch how it plays out. Maybe paper trade instead of live.
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  • #157
  • Feb 17, 2010 9:42pm Feb 17, 2010 9:42pm
ronin2002,
i need to be clearer here. if i did not make a mistake, do you mean eu will form like this, in monthly? thank's in advance
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  • #158
  • Feb 17, 2010 9:52pm Feb 17, 2010 9:52pm
While its entirely possible, that in the future it may fall to that area, I was trying to point out that currently, price was bouncing on support. I used the monthly to see a bigger picture of where things at currently
  • #159
  • Feb 17, 2010 10:03pm Feb 17, 2010 10:03pm
Quoting Ronin2002
Sometimes it is easier to look on a higher time frame to get your bearings. The first chart is EURUSD Monthly. It shows an up trend, with a lower high and price at support. Then weekly, similarly to the monthly, up trend & lower high at support. That's your long term, now lets look a little shorter, the Daily. I see a down trend that is testing that support for the third time. Note I said third time. The is no such thing as a 'triple bottom', but what pattern can give the appearance of 3 bottoms? OK, now look at the 4hr. Does it look differently...

Ronin2002

Once again, I cannot thank you enough....To be honest with you I had not seen this formation forming on the 4hr....I guess I was a bit flustered after that loss I took on the usd/jpy and really low in the confidence level..

definetly have to take a step back and start working backwards again..

As always your explanations really seem to sink through and open my eyes....

Thanks for taking the time ITS REALLY GREAT TO HAVE YOU HERE...
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  • #160
  • Feb 17, 2010 10:38pm Feb 17, 2010 10:38pm
Quoting fx_disciple
@swingtrader

your charts are sick!

spot on points like that using the cleanest of charts... man, please post the thought process to get there

thankyou

my english is not very good but i will try to post all pics.
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