Backing Trades Thru Charts | Page 12 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How to determine thru code which chart window has focus 0 replies

Charts, Charts, Charts! 1 reply

Link Charts & Floating Charts 4 replies

Forex Daily Charts Scanning “price action in and between charts” 2 replies

Which charts to believe?? the best charts' source ? 19 replies

Attachments: Backing Trades Thru Charts
Exit Attachments

Backing Trades Thru Charts

  • #221
  • Mar 12, 2010 7:58am Mar 12, 2010 7:58am
Quoting TheLastCoke
Bat is my favorite pattern, it is almost a free trade.
nice bearish Bat,
I'm not trading the Bat, I have Pending Sell limit order at Weekly R2 at 125.55
I think we will see good short opportunity there
  • #222
  • Mar 12, 2010 8:00am Mar 12, 2010 8:00am
Quoting shahab8b
nice bearish Bat,
I'm not trading the Bat, I have Pending Sell limit order at Weekly R2 at 125.55
I think we will see good short opportunity there
Could you post the chart. Don't see it there.

Thanks,
  • #223
  • Mar 12, 2010 8:02am Mar 12, 2010 8:02am
Quoting TheLastCoke
Could you post the chart. Don't see it there.

Thanks,
look at weekly R2
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 20 KB
  • #224
  • Mar 12, 2010 8:06am Mar 12, 2010 8:06am
Quoting shahab8b
look at weekly R2
I have resistance at 125.22, If broken It won't come down easily. (FEB. 22)
  • #225
  • Mar 12, 2010 8:12am Mar 12, 2010 8:12am
Quoting TheLastCoke
I have resistance at 125.22, If broken It won't come down easily. (FEB. 22)
I saw that too, but to my experience, R/S is not a line, its a zone, and I see there are lots of action around weekly Pivot /R/S ,and that's due to big orders waiting there, how many time have you seen a false R/S break? R at 125.22 may stop this if not 125.55 will do , even if it is temporarily we can ride 50-60 pips at least
  • #226
  • Mar 12, 2010 8:24am Mar 12, 2010 8:24am
Quoting shahab8b
I saw that too, but to my experience, R/S is not a line, its a zone, and I see there are lots of action around weekly Pivot /R/S ,and that's due to big orders waiting there, how many time have you seen a false R/S break? R at 125.22 may stop this if not 125.55 will do , even if it is temporarily we can ride 50-60 pips at least
Exactly, a zone....take a look. IMHO your entry is a bit too high.
Attached Image (click to enlarge)
Click to Enlarge Name: arrows.gif Size: 17 KB
  • #227
  • Mar 12, 2010 8:35am Mar 12, 2010 8:35am
Quoting TheLastCoke
Exactly, a zone....take a look. IMHO your entry is a bit too high.
OK, may be I enter manually, lets see the PA around your R zone at your chart
  • #228
  • Mar 12, 2010 8:35am Mar 12, 2010 8:35am
Quoting shahab8b
OK, may be I enter manually, lets see the PA around your R zone at your chart
Hope it works for both of us....
  • #229
  • Mar 12, 2010 9:10am Mar 12, 2010 9:10am
EURJPY is running from your resistence level TheLastCoke!

Nice call!
  • #230
  • Mar 12, 2010 9:26am Mar 12, 2010 9:26am
Quoting TheLastCoke
Hope it works for both of us....
you were right , the high was 125.19 !!, I entered manually and already cleared 50 sweet pips ,the rest SL to B/E ,
  • #231
  • Mar 12, 2010 9:28am Mar 12, 2010 9:28am
Very nice call indeeed! Thank you for sharing the chart..
  • #232
  • Edited 3:15am Mar 13, 2010 1:38am | Edited 3:15am
I posted some levels several days ago togheter with my opinion on how difficult it will be to get there #89.

The following is my short term entry and exit plan to get to those levels. (My long term view remains the same #4 #88 #201550 #186 #187 )

Went long right before the firts brake #170 and I tought it was the real one but it came back to range so I got out at BE #173. The shakeout really fooled me and I remained flat after that. So, I missed the so waited and anticipated break #128 #161 #181 but fortunally this market works both ways.

I went in short at .3735 #199 because of previous high. Then I added at daily TL which was in confluence with a AB=CD pattern #196 #201. I kept in mind .3788 #89, when we got to that level I found a beautiful butterfly #210 and went in really heavy.

I am still holding 2 positions, and my exit plan is as follow.(see chart) Price retraced 38.2% from last move which was my first target. So I got out from my first position (.3735) at BE and my heavely loaded one from .3790. Now I have two options in mind.

1. It will keep retracing upto 68.1% which will also be a retest of the triangle TL, If that is the case I will close my shorts positions and reload a long one.

2. Taking into considaration the force of this recent move 38.2% (current level) could be a decent retrace to keep going up, if this is the case one of my shorts is at BE and the other one will be -31 pips (both small positions).

TLC.
Attached Image (click to enlarge)
Click to Enlarge Name: plan.gif Size: 25 KB
  • #233
  • Mar 13, 2010 2:56pm Mar 13, 2010 2:56pm
It could be heading down to 3680-90 to finally go up and test 38.3% at 3870-80.

Take a look at the bigger picture.
I plotted a fibo ret. and fan on the 2 previous big drops.

Attached Image (click to enlarge)
Click to Enlarge Name: whole.gif Size: 23 KB


Notice the hits at fan and how 23.6% was used as resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: hits1.gif Size: 17 KB

Attached Image (click to enlarge)
Click to Enlarge Name: hits2.gif Size: 18 KB


This recent move up seems to be ''behaving'' as the one at circle 1.

Attached Image (click to enlarge)
Click to Enlarge Name: 11.gif Size: 19 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 12.gif Size: 19 KB


Now head to head.

Attached Image (click to enlarge)
Click to Enlarge Name: circle.gif Size: 21 KB

Attached Image (click to enlarge)
Click to Enlarge Name: finally.jpg Size: 157 KB


I will be carefully watching PA at 38.2% (.3876) but if everything goes as plan this is what I expect: From current level it may go like this: .3687>.3876>.3440's(>400+ drop).
  • #234
  • Edited 11:11am Mar 14, 2010 10:51am | Edited 11:11am
Quoting TheLastCoke
Mauro this is a perfect Bearish Bat formed to the pip. Check this post also #345.

GL.
Finally this bat flew away and reached its fisrt target....this target gave birth to a 4H butterfly. From this point the butterfly can try to get away flying north retracing 38.2% from C point but eventually this giant Bat will eat it and continue its south migration to target 2.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: bat+butter.gif Size: 24 KB
Click to Enlarge Name: butter.gif Size: 27 KB
  • #235
  • Edited 10:53pm Mar 14, 2010 10:40pm | Edited 10:53pm
3 excuses to go long.

Attached Image (click to enlarge)
Click to Enlarge Name: monthly.gif Size: 14 KB
  • #236
  • Mar 15, 2010 12:09am Mar 15, 2010 12:09am
Quoting Fudomyo
nice chart.

Blue monthly TL is current battle line. Keeping an eye on that as well. If we can clearly break above it, then an up move will gain momentum. atm we're sitting under it in a critical area, so I'd like to see how SR plays out on lower TFs.

Europe open will probably give us a more clear signal on direction.

(here's a 30M view of current price relationship to blue monthly TL)
Closer Look.

Attached Image (click to enlarge)
Click to Enlarge Name: double bottom.gif Size: 17 KB
  • #237
  • Mar 15, 2010 12:55am Mar 15, 2010 12:55am
Quoting TheLastCoke
Closer Look.

Attachment

I added your neckline to my chart. Looks like a good possibility.

could see a potential Frankie headfake test of the ltl before a move up as well. (lower circle)
Attached Image (click to enlarge)
Click to Enlarge Name: 8c.gif Size: 34 KB
  • #238
  • Mar 15, 2010 2:46am Mar 15, 2010 2:46am


Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 15 KB
  • #239
  • Mar 15, 2010 3:19am Mar 15, 2010 3:19am
A few pairs in similar state of driving into the wedge.

No breakout yet on the GY or GU, and no major news, so it may be boring day.

...still some decent small trades in the range until this gets sorted.
Attached Image (click to enlarge)
Click to Enlarge Name: 9a.gif Size: 32 KB
  • #240
  • Mar 15, 2010 3:31am Mar 15, 2010 3:31am
Quoting Fudomyo
A few pairs in similar state of driving into the wedge.

No breakout yet on the GY or GU, and no major news, so it may be boring day.

...still some decent small trades in the range until this gets sorted.
Or it could be a ''Pop Corn Chain Reaction''
4 traders viewing now