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Backing Trades Thru Charts

  • #281
  • Mar 17, 2010 2:54am Mar 17, 2010 2:54am
Quoting Heino
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?
Study this when you have the chance

http://harmonictrader.com/price_patterns.htm
  • #282
  • Mar 17, 2010 3:47am Mar 17, 2010 3:47am
Short E/U at .3815, let's see if the wait wasn't in vain. #212163
  • #283
  • Mar 17, 2010 4:09am Mar 17, 2010 4:09am
This intraday snapshot of the daily AUD/USD chart shows that price is getting close to the upper line of the red expanding triangle, where we should see a nice bounce. This could even turn into a trend reversal as expanding triangles are topping formations.

Should price manage to close above the next target is the orange resistance, that intersects with the median line of the yellow pitchfork.
Attached Image (click to enlarge)
Click to Enlarge Name: 20100317audD.gif Size: 28 KB
  • #284
  • Mar 17, 2010 4:19am Mar 17, 2010 4:19am
Quoting Hell7
This intraday snapshot of the daily AUD/USD chart shows that price is getting close to the upper line of the red expanding triangle, where we should see a nice bounce. This could even turn into a trend reversal as expanding triangles are topping formations.

Should price manage to close above the next target is the orange resistance, that intersects with the median line of the yellow pitchfork.
Mate, could you work something out with the yellow TL, see if there is some comfluence with any of your forks.

Attached Image (click to enlarge)
Click to Enlarge Name: yellow.gif Size: 16 KB
  • #285
  • Mar 17, 2010 4:33am Mar 17, 2010 4:33am
Quoting TheLastCoke
Study this when you have the chance

http://harmonictrader.com/price_patterns.htm
Yes thank you for the link.
  • #286
  • Mar 17, 2010 4:34am Mar 17, 2010 4:34am
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
Stopped out. No real damage.
  • #287
  • Mar 17, 2010 5:05am Mar 17, 2010 5:05am
Quoting TheLastCoke
Mate, could you work something out with the yellow TL, see if there is some comfluence with any of your forks.

Attachment
Added this line in blue on my chart, but it doesn't really match anything
Attached Image (click to enlarge)
Click to Enlarge Name: 20100317audD.gif Size: 28 KB
  • #288
  • Mar 17, 2010 6:23am Mar 17, 2010 6:23am
Recent Bullish move in both G/U and G/J may find resistance at this parallel channel.

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  • #289
  • Mar 17, 2010 6:43am Mar 17, 2010 6:43am
Quoting TheLastCoke
Stopped out. No real damage.

Hi Last Coke,

Hope all is well,
Acceptance of a loss is a part of the trading game. Take it easy dont let the forums pressurise you into being right my friend other wise this can lead to a lot of negativity.

You are a beautiful chartist and an ace trader...Wish you would change your logo though lol.

Good Luck buddy
Let Price determine your future!
  • #290
  • Mar 17, 2010 7:02am Mar 17, 2010 7:02am
USDCHF

short trade from 1.0640 took hit the target at 1.0515 (+125 pips)
long trade from 1.0515 has been taken, SL=1.04
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchfa.gif Size: 19 KB
  • #291
  • Mar 17, 2010 7:45am Mar 17, 2010 7:45am
Quoting Geppyg
Hi Last Coke,

Hope all is well,
Acceptance of a loss is a part of the trading game. Take it easy dont let the forums pressurise you into being right my friend other wise this can lead to a lot of negativity.

You are a beautiful chartist and an ace trader...Wish you would change your logo though lol.

Good Luck buddy
Thanks for the golden advice.
Taking a loss one of the most difficult part of trading but I firmly try to stick to the trading plan which always include a tight SL. That is why I like TL, S&R, Fibos and Harmonics, those provide us with great RRR.

Don't forget to post at least once in a blue moon...LOL

Thank you again.

Coke.
  • #292
  • Mar 17, 2010 10:47am Mar 17, 2010 10:47am
E/U (+90) #212163 out at 68.2%, G/U (+90) out at 23.6%, G/Y (+110) out at 23.6% #288. Earlier this morning a G/U winning position turned out to be at BE so I am locking profit now and probalby reenter at a retracement.
  • #293
  • Mar 17, 2010 11:34am Mar 17, 2010 11:34am
Quoting Hell7
This intraday snapshot of the daily AUD/USD chart shows that price is getting close to the upper line of the red expanding triangle, where we should see a nice bounce. This could even turn into a trend reversal as expanding triangles are topping formations.

Should price manage to close above the next target is the orange resistance, that intersects with the median line of the yellow pitchfork.
This could be good, for the bounce or even better for a break.

Right at top of the trend there are 2 Daily TL (pic. 1)+ an AB=CD bearsih pattern forming inside the selling zone (pic.2)

I have a 45 pips wide entry zone on this one rather than a precise level.
RRR is magnificent. Chart is self-explanatory.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #294
  • Mar 17, 2010 11:38am Mar 17, 2010 11:38am
Quoting TheLastCoke
This could be good, for the bounce or even better for a break.

Right at top of the trend there are 2 Daily TL (pic. 1)+ an AB=CD bearsih pattern forming inside the selling zone (pic.2)

I have a 45 pips wide entry zone on this one rather than a precise level.
RRR is magnificent. Chart is self-explanatory.
We see the same!
  • #295
  • Mar 17, 2010 11:47am Mar 17, 2010 11:47am
Quoting Hell7
We see the same!
Gonna set and forget on this one Hell.
  • #296
  • Mar 17, 2010 5:48pm Mar 17, 2010 5:48pm
Failure to close below .3717 (61.8%) is a very bullish sign. On the two previous bear attempts, 61.8% fibo ret. was the turning point.
I'll be selling after we convincely cross .3700. If .3700's 20' holds we could see .3838 shortly.
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  • #297
  • Mar 18, 2010 1:54am Mar 18, 2010 1:54am
Quoting Hell7
Bounced to the pip so far
So far so good. I'm taking some off the table here, the rest I'll keep until much lower or stop-out
Attached Image (click to enlarge)
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  • #298
  • Mar 18, 2010 2:29am Mar 18, 2010 2:29am
Here's a little possibility for GBP/USD taken from the 1 hour time frame.
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  • #299
  • Mar 18, 2010 7:20am Mar 18, 2010 7:20am
Quoting TheLastCoke
Bat is my favorite pattern, it is almost a free trade.
Target met.
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  • #300
  • Mar 18, 2010 8:08am Mar 18, 2010 8:08am
It was a nice G/J set up #90. I took the first target #112 but not the second one #117 . Instead I went short at final target #288.

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