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Backing Trades Thru Charts

  • #301
  • Mar 18, 2010 8:52am Mar 18, 2010 8:52am
Here it is Last!
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  • #302
  • Mar 18, 2010 9:14am Mar 18, 2010 9:14am
Quoting maurofx
Here it is Last!
Mauro, there is a problem with the C point. C point must be within AB, in other words it should be lower than A. Take a look at black lines.....remember the most important thing is to wait for the patten to be completed.....Buy or Sell only at D point.
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  • #303
  • Mar 18, 2010 10:14am Mar 18, 2010 10:14am
161.8% fib ext. in last bull and bear moves + Parallel Channel converge into the same levels. In case of a break use them as targets or reversal points.
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  • #304
  • Mar 18, 2010 10:40am Mar 18, 2010 10:40am
Quoting TheLastCoke
161.8% fib ext. in last bull and bear moves + Parallel Channel converge into the same levels. In case of a break use them as targets or reversal points.
It broke....let's see where it can take us.

This could be a bump.

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  • #305
  • Mar 18, 2010 12:49pm Mar 18, 2010 12:49pm
Just a thought.
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  • #306
  • Mar 18, 2010 2:57pm Mar 18, 2010 2:57pm
I Posted this March 6 #118 nothing special back then (just a pass-time) but look at the PA since that date and note where it stopped today.

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  • #307
  • Mar 18, 2010 4:17pm Mar 18, 2010 4:17pm
I know this is your thread but matey just another thought....I will write an article about naked charting and Pattern Recognition this weekend...I personally see this sceanrio playing out on the euro if the weekly closes below the 3rd ledge...

Just another thought...Rounded bottom has failed and seems like the bear flag on weekly is in play

Good Day

GeppyG
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Let Price determine your future!
  • #308
  • Mar 18, 2010 4:44pm Mar 18, 2010 4:44pm
Quoting Hell7
So far so good. I'm taking some off the table here, the rest I'll keep until much lower or stop-out
Saved by the 61.8% so far, if that breaks we go test (at least) the bottom of a few weeks ago.

Quoting Hell7
Bounced to the pip so far
And guess who's short from 2 pips below that top
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  • #309
  • Mar 18, 2010 4:47pm Mar 18, 2010 4:47pm
Quoting Geppyg
I know this is your thread but matey just another thought....I will write an article about naked charting and Pattern Recognition this weekend...I personally see this sceanrio playing out on the euro if the weekly closes below the 3rd ledge...

Just another thought...Rounded bottom has failed and seems like the bear flag on weekly is in play

Good Day

GeppyG
Your posts are more than welcome here.

No semtiments involve but we rearly see consecutive doji like formations fail, see some examples #186 #187. Backing up my views there is this giant AB=CD pattern #4 we haven't seen a CD leg bigger than 127.2%#201550. Look at G/U #235 it is at critical level too(monthly basis).

Again,
Thank you for postings.
Coke.

Edit: Could I have a copy of your article please?
  • #310
  • Mar 18, 2010 4:48pm Mar 18, 2010 4:48pm
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.
Well, I'm short from yesterday's touch of the red line, but am a bit disappointed by the reaction so far. Let's hope we get some distance tonight/tomorrow.
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  • #311
  • Mar 18, 2010 4:55pm Mar 18, 2010 4:55pm
Quoting Hell7
Saved by the 61.8% so far, if that breaks we go test (at least) the bottom of a few weeks ago.



And guess who's short from 2 pips below that top
congrats. I just milked half of it. #212163, I guess we both pressed the mouse at the same time.
  • #312
  • Mar 18, 2010 5:00pm Mar 18, 2010 5:00pm
Quoting Hell7
Well, I'm short from yesterday's touch of the red line, but am a bit disappointed by the reaction so far. Let's hope we get some distance tonight/tomorrow.
Even though the sell zone was reached, I am not in yet. I am waiting for a ''better'' entry #293. If not, the trip is long, I'll catch up with you later.
  • #313
  • Mar 18, 2010 5:13pm Mar 18, 2010 5:13pm
Quoting TheLastCoke
Even though the sell zone was reached, I am not in yet. I am waiting for a ''better'' entry #293. If not, the trip is long, I'll catch up with you later.
I'll add higher if given the opportunity, but due to the possibly very nice reward I decided to get in at the first opportunity and use this trade to test my patience.

Plan:
- add just below the blue trendline, should we get there
- add just below the orange resistance, should we get there
- stops for all not far above the orange resistance
- take 50% of whatever position I have by then off around the lower line of the green or yellow fork.
- ride the rest till (at least) the red one below.

Total risk? 3 times 0.5% = 1.5%.

The reward depends on whether I get to add to the position. Should both adds get executed my total profit will be well above 50% if this trade works out as planned (as the added positions will be larger because their stops will be smaller).
  • #314
  • Mar 18, 2010 7:58pm Mar 18, 2010 7:58pm
Quoting TheLastCoke
It broke....let's see where it can take us.

This could be a bump.

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Bump right to the pip.

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  • #315
  • Mar 18, 2010 9:43pm Mar 18, 2010 9:43pm
Quoting TheLastCoke
I Posted this March 6 #118 nothing special back then (just a pass-time) but look at the PA since that date and note where it stopped today.

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I think E/U is a descending scallop , as I mentioned before (my old chart) here is the measured target for this kind of patterns according to Thomas Bulkowski :
http://thepatternsite.com/descscallops.html
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  • #316
  • Mar 18, 2010 10:34pm Mar 18, 2010 10:34pm
If you are a Bear think like a Bull, if you are a Bull think like a Bear.

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Keep your friends close and your enemies closer.
  • #317
  • Mar 19, 2010 12:16am Mar 19, 2010 12:16am
Quoting TheLastCoke
If you are a Bear think like a Bull, if you are a Bull think like a Bear.

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Keep your friends close and your enemies closer.
Great........Perfect......Clear......
you have to be out to be in
  • #318
  • Mar 19, 2010 12:35am Mar 19, 2010 12:35am
This pennant can take us to .3550's #303 .3530's.

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  • #319
  • Mar 19, 2010 2:25am Mar 19, 2010 2:25am
You are definitely a great chartist! Thx
  • #320
  • Mar 19, 2010 3:31am Mar 19, 2010 3:31am
Let me know what you think. I'm a trend trader so when things agree with my view of the trend, it's even more convincing. My entry on this pair was not the best but still great (>5:1 R:R), but I got a much better entry on the GBPUSD which is in a very similar pattern, but I don't have time to post charts at the moment.
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Every time you use 'hopium' in a post, God kills a kitten.
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