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Backing Trades Thru Charts

  • #261
  • Mar 15, 2010 2:47pm Mar 15, 2010 2:47pm
Quoting shahab8b
USDCHF
short at 1.0640
aiming for 1.0510-15

reason:
S>R
weekly pivot near this level
I'll switch to long at 1.0510 due to confluence of R>S and TL touch at that level
red line are TP of my pending long

another reason for this short is SSI positioning in U/Chf , I explained that in my thread "Weekly COT analysis"
I am bearish on this pair but I think a retracement is due first. See post #234
  • #262
  • Mar 15, 2010 2:57pm Mar 15, 2010 2:57pm
Quoting shahab8b
you were right , the high was 125.19 !!, I entered manually and already cleared 50 sweet pips ,the rest SL to B/E ,
Are you still honding? #216
  • #263
  • Mar 15, 2010 3:09pm Mar 15, 2010 3:09pm
Quoting TheLastCoke
Are you still honding? #216
nop, I closed 2nd position at 123.50
I had a pending G/J sell limit order which was never got filled, I think that one was a bit too high
138.33 , I missed that one with 25 pips eeer
  • #264
  • Mar 15, 2010 3:14pm Mar 15, 2010 3:14pm
have you recently posted any trade on G/U that I missed?
  • #265
  • Mar 15, 2010 3:19pm Mar 15, 2010 3:19pm
Quoting shahab8b
have you recently posted any trade on G/U that I missed?
Took a long on G/J #248 and G/U at the same time, they both retraced 38.2% before the drop.
  • #266
  • Mar 15, 2010 10:19pm Mar 15, 2010 10:19pm
Perhaps....

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  • #267
  • Mar 16, 2010 2:54am Mar 16, 2010 2:54am
Quoting Hell7
The 4 hour chart shows a red trend line which is a slight variation on your white one (3 previous touches instead of 2), and shows that not far below today's low we see a nice confluence of 3 my blue, red & yellow lines.
Well, price broke below all lines like a hot knife through butter, so I modified my 1 hour fork to see what might be going on (note that price is frontrunning the lines by the same number of pips at the upper and lower lines).

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And on the 4 hour chart this sure looks like a nice continuation wedge.

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  • #268
  • Mar 16, 2010 4:47am Mar 16, 2010 4:47am
Hi bro,
I'm so glad I'm on your thread. I must say that your trading system is neat and simply beautiful. I was enthralled by the many calls that you gave so much so that I decided to do a little study on harmonic trading.

The chart I'm posting is the result of my first few hours of reading. Nice bat forming on usd/cad I think the price projection would be 1.035x region.

Please help me verify if what I'm seeing is correct or just let me know if I'm as blind as the bat I think I'm seeing lol.

Wow! I sure am gonna have fun on this thread.
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  • #269
  • Mar 16, 2010 5:25am Mar 16, 2010 5:25am
It worked on this one. Will the others catch up?
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  • #270
  • Edited 6:01am Mar 16, 2010 5:38am | Edited 6:01am
Quoting forexcompoun
Hi bro,
I'm so glad I'm on your thread. I must say that your trading system is neat and simply beautiful. I was enthralled by the many calls that you gave so much so that I decided to do a little study on harmonic trading.

The chart I'm posting is the result of my first few hours of reading. Nice bat forming on usd/cad I think the price projection would be 1.035x region.

Please help me verify if what I'm seeing is correct or just let me know if I'm as blind as the bat I think I'm seeing lol.

Wow! I sure am gonna have fun on this thread.
Hello brother. There is a nice possible bat formation but remember a pattern is not a pattern until it is fully completed. Try to sell/buy at D point only so you minimize the risk.
  • #271
  • Mar 16, 2010 6:09am Mar 16, 2010 6:09am
Bump in the road.
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  • #272
  • Edited 10:58am Mar 16, 2010 10:39am | Edited 10:58am
I am waiting for .3777 to go in short. I found this 4H TL+Resistance+a Bat, all in confluence at that level.

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  • #273
  • Mar 16, 2010 12:47pm Mar 16, 2010 12:47pm
Quoting TheLastCoke
I am waiting for .3777 to go in short. I found this 4H TL+Resistance+a Bat, all in confluence at that level.

Attachment

Attachment
Not taking this call during FOMC Statement.
  • #274
  • Mar 16, 2010 3:13pm Mar 16, 2010 3:13pm
G/U is right under this equidistant channel + It formed an AB=CD where CD= 100% Fib EXT. First target could be .5150
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  • #275
  • Mar 16, 2010 3:43pm Mar 16, 2010 3:43pm
Quoting TheLastCoke
G/U is right under this equidistant channel + It formed an AB=CD where CD= 100% Fib EXT. First target could be .5150
Nice chart TLC, your upsloping line intersects nicely with my downsloping one
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  • #276
  • Mar 16, 2010 3:55pm Mar 16, 2010 3:55pm
Quoting Hell7
Well, price broke below all lines like a hot knife through butter, so I modified my 1 hour fork to see what might be going on (note that price is frontrunning the lines by the same number of pips at the upper and lower lines).
A quick update of my 1 hour EUR/USD chart shown earlier today, to which I added some parallel lines to show how well this is working.
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  • #277
  • Mar 16, 2010 4:01pm Mar 16, 2010 4:01pm
Quoting Hell7
A quick update of my 1 hour EUR/USD chart shown earlier today, to which I added some parallel lines to show how well this is working.
Nice, Simple and yet fascinating charts!!!
  • #278
  • Mar 16, 2010 4:08pm Mar 16, 2010 4:08pm
Quoting Hell7
The daily S&P 500 chart shows what could be a perfect double top, near the upper green trend line. If price breaks above here the index will continue it's journey to the moon, but a lower close tomorrow could mean the end of all this craziness
They chose to continue the journey to the moon

Under normal circumstances we should see some profit taking here near the top of the green channel, but with quadruple withing coming up this Friday it's probably dangerous to bet on that (as it's always the easiest to expire at a top or bottom)
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  • #279
  • Mar 17, 2010 2:31am Mar 17, 2010 2:31am
Quoting Hell7
And on the 4 hour chart this sure looks like a nice continuation wedge.

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Bounced to the pip so far
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  • #280
  • Mar 17, 2010 2:51am Mar 17, 2010 2:51am
Hello LastCoke,

i have not much experience with the formations I see here often you draw, did there are some static rules how i can find such formations like bat and butterfly myself in chart?
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