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Chart patterns and trendline discussion....

  • #201
  • Feb 22, 2010 8:58am Feb 22, 2010 8:58am
Quoting fx_disciple
@ mf036ml

I don't trade off daily bar, it's too big for me to handle. I base my trade on h4 and then I drill down to h1 and m15. even so, I still look on daily and weekly and also monthly to peek the general outline.

managed to pull a scalp trade to the down side on h4 ej. +34 pips
Great,

Good to hear that...I went short on this as well and closed half my position and now have sl to break even...still short...

congrats..
  • #202
  • Feb 22, 2010 9:49am Feb 22, 2010 9:49am
Quoting mf036ml
a bullish flag on the weekly?
text-book reply : No.
  • #203
  • Feb 22, 2010 9:53am Feb 22, 2010 9:53am
Quoting mf036ml
seems to be forming a bearish flag....just my take...ofcourse I've been wrong many a times...
text-book reply : yes, would qualify if it retraces to the bottom channel
  • #204
  • Feb 22, 2010 10:21am Feb 22, 2010 10:21am
Quoting TheArcher
text-book reply : yes, would qualify if it retraces to the bottom channel

text-book reply : thank you
  • #205
  • Edited 6:14pm Feb 22, 2010 4:56pm | Edited 6:14pm
EUR/USD at 4 Hours, there is an Inverted Head and Shoulder. I think if candlestick touch rising trendline (red line), it can be a good Support and price will go up to breakout down-trendline (red line) and neck (black line). But there is a Resistance too at 1.3787. Maybe after go up to 1.3787, it will retraces to neck line and breakout the Resistance.

it's just my thinking. sometimes I could be wrong...
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  • #206
  • Feb 23, 2010 12:12am Feb 23, 2010 12:12am
Quoting kurosano
EUR/USD at 4 Hours, there is an Inverted Head and Shoulder. I think if candlestick touch rising trendline (red line), it can be a good Support and price will go up to breakout down-trendline (red line) and neck (black line). But there is a Resistance too at 1.3787. Maybe after go up to 1.3787, it will retraces to neck line and breakout the Resistance.

it's just my thinking. sometimes I could be wrong...
you could be correct.
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  • #207
  • Feb 23, 2010 9:22am Feb 23, 2010 9:22am
Quoting mf036ml
text-book reply : thank you
text-book reply : you're welcome !
  • #208
  • Feb 23, 2010 9:34am Feb 23, 2010 9:34am
Quoting TheArcher
text-book reply : you're welcome !

lol, thanks for the input TheArcher. As always I really appreciate you guys taking the time to post up your explanations or answers to questions.

Good luck to all,
  • #209
  • Feb 23, 2010 9:53am Feb 23, 2010 9:53am
inverted head and shoulder failed coz of news
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  • #210
  • Feb 23, 2010 2:27pm Feb 23, 2010 2:27pm
Curious on if my take on this would be accurate. Based on the weekly charts EU is currently in a dowtrend..with price heading towards the next level to be tested at around 1.2727....

Thanks in advance
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  • #211
  • Feb 23, 2010 2:47pm Feb 23, 2010 2:47pm
Quoting mf036ml
Curious on if my take on this would be accurate. Based on the weekly charts EU is currently in a dowtrend..with price heading towards the next level to be tested at around 1.2727....

Thanks in advance
By my eye if price loses 1.3462 then it will go to 1.3241.
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  • #212
  • Feb 23, 2010 3:47pm Feb 23, 2010 3:47pm
Quoting Ronin2002
By my eye if price loses 1.3462 then it will go to 1.3241.

Thanks Ronin
  • #213
  • Feb 23, 2010 11:45pm Feb 23, 2010 11:45pm
G/U
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  • #214
  • Feb 24, 2010 8:24am Feb 24, 2010 8:24am
Ronin2002?
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  • #215
  • Feb 24, 2010 9:18am Feb 24, 2010 9:18am
Quoting mf036ml
Ronin2002?
What I see
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  • #216
  • Edited 1:12pm Feb 24, 2010 10:21am | Edited 1:12pm
Is this a bearish flag breaking on the daily or the fact that there is such a wide range bar make me weary of a short considering it can retrace all that back?
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  • #217
  • Feb 24, 2010 10:59am Feb 24, 2010 10:59am
Quoting mf036ml
Is this a bullish flag breaking on the daily or the fact that there is such a wide range bar make me weary of a short considering it can retrace all that back?
Sorry, meant bear...
  • #218
  • Feb 24, 2010 6:41pm Feb 24, 2010 6:41pm
my current usd/jpy 4hr....

Open for discussion with other traders as far as possible entries...

Looking forward to comments..
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  • #219
  • Feb 24, 2010 6:46pm Feb 24, 2010 6:46pm
Eur/usd 4hr..
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  • #220
  • Feb 24, 2010 10:25pm Feb 24, 2010 10:25pm
Would really appreciate any advice on how these channels are best traded..price is moving up if you get a breakout of resistance would that make a good entry? or how bout when price retest supp? whats a good signal to pull the trigger on the long?

Am trying to learn here guys so any advice you guys are willing to share is greatly appreciated...from both experienced and not so experienced traders on your past results or current strategy with sup/res. levels...

Thanks
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