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Backing Trades Thru Charts

  • #321
  • Mar 19, 2010 3:46am Mar 19, 2010 3:46am
Quoting profxtrader
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.
Pattern is Ok, Problem I see is the entry. Why didn't you sell at D? It could pay more but that will be its second target at 61.8% CD. Put it this way, your entry point is my first target.
  • #322
  • Mar 19, 2010 3:53am Mar 19, 2010 3:53am
Quoting TheLastCoke
Pattern is Ok, Problem I see is the entry. Why didn't you sell at D? It could pay more but that will be its second target at 61.8% CD. Put it this way, your entry point is my first target.
I saw the pattern while I was making my trend trades. While I would have loved to have soptted the setup earlier, it was taken on a signal from my swing trading system. The pattern only strengthened my conviction about my own trades and all I am saying is that I'll be looking for them (so long as I can chart them correctly) in the future. We may differ on our timeframes as well. 4 hour is the lowest timeframe I'll trade.
Every time you use 'hopium' in a post, God kills a kitten.
  • #323
  • Mar 19, 2010 4:35am Mar 19, 2010 4:35am
I have targets from 131, to 129 all the way down to the mid 119's, but will be watching the upward channel very closely for a bounce.
Every time you use 'hopium' in a post, God kills a kitten.
  • #324
  • Mar 19, 2010 6:40am Mar 19, 2010 6:40am
Quoting TheLastCoke
This pennant can take us to .3550's #303 .3530's.

Attachment

Attachment
Really Happy, Clean trade, No Drawdown.

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  • #325
  • Mar 19, 2010 7:00am Mar 19, 2010 7:00am
This new channel can come into play.

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  • #326
  • Mar 19, 2010 7:18am Mar 19, 2010 7:18am
Quoting s.ZhouYun.h
Great........Perfect......Clear......
Thank you Buddy.
  • #327
  • Mar 19, 2010 7:26am Mar 19, 2010 7:26am
Quoting Hell7
And guess who's short from 2 pips below that top
As I think the current leg might be getting near completion (lower line of the yellow fork, 78% retracement etc) and as it's nearly weekend I'm now watching this as a hawk on a 5 min chart so I can close at the first sign of trouble.

Nearly 300 pips so far!
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  • #328
  • Mar 19, 2010 7:28am Mar 19, 2010 7:28am
Quoting TheLastCoke
Way to go man......

#213491
Thanks

I wanted to post here and then link from the EUR thread, but I posted it there first by mistake so copied it here for future reference.
  • #329
  • Mar 19, 2010 7:31am Mar 19, 2010 7:31am
Quoting Hell7
As I think the current leg might be getting near completion (lower line of the yellow fork, 78% retracement etc) and as it's nearly weekend I'm now watching this as a hawk on a 5 min chart so I can close at the first sign of trouble.

Nearly 300 pips so far!
Let the party be here then.....

Way to go man!!!!
  • #330
  • Mar 19, 2010 7:49am Mar 19, 2010 7:49am
Support + Parallel Channel = Ultimate Bull Arsenal.

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  • #331
  • Mar 19, 2010 8:30am Mar 19, 2010 8:30am
Quoting TheLastCoke
Really Happy, Clean trade, No Drawdown.

Attachment

Well Done TLC...Excellent Trading,

GeppyG
Let Price determine your future!
  • #332
  • Mar 19, 2010 8:58am Mar 19, 2010 8:58am
Quoting Hell7
The daily chart of the DX US Dollar Index future shows that price is getting close to the lower line of the white wedge, and looks ready to break below (possibly after a small bounce). If this line breaks, the median line of the green fork looks like a logical first target.
This intraday snapshot of the daily chart of the DX US Dollar Index future shows that price is currently backtesting the trend line broken earlier, after having bounced from the median line of the green pitchfork.
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  • #333
  • Mar 19, 2010 9:10am Mar 19, 2010 9:10am
Quoting Geppyg
Well Done TLC...Excellent Trading,

GeppyG
My wife is not so happy though, I'm gonna have to move to Europe so I could trade according to my ''TF''.
  • #334
  • Mar 19, 2010 9:14am Mar 19, 2010 9:14am
Are you long here?
  • #335
  • Mar 19, 2010 9:18am Mar 19, 2010 9:18am
Quoting TheLastCoke
My wife is not so happy though, I'm gonna have to move to Europe so I could trade according to my ''TF''.
Your welcome in Belgium We have Coke here too!
  • #336
  • Mar 19, 2010 9:47am Mar 19, 2010 9:47am
I don't know if anyone here is trading crude oil, but I'll post a quick snapshot of the 4 hour chart of the CL oil futures to show what I'm looking at anyway.

I think that 38.2% level will have to give somewhere soon ...
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  • #337
  • Mar 19, 2010 9:51am Mar 19, 2010 9:51am
G/U long.

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  • #338
  • Mar 19, 2010 9:52am Mar 19, 2010 9:52am
Quoting Hell7
As I think the current leg might be getting near completion (lower line of the yellow fork, 78% retracement etc) and as it's nearly weekend I'm now watching this as a hawk on a 5 min chart so I can close at the first sign of trouble.

Nearly 300 pips so far!
No trouble on the 5 min chart yet but I'm out anyway here at the lower line of that yellow fork and the nice round number 1.35.

Will re-evaluate next week
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  • #339
  • Mar 19, 2010 10:10am Mar 19, 2010 10:10am
G/J long

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  • #340
  • Mar 19, 2010 10:36am Mar 19, 2010 10:36am
Quoting meovn63
Are you long here?
At. 3549 and .3505.

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