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  • #19,461
  • Mar 22, 2010 9:33am Mar 22, 2010 9:33am
Intra day falling wedge broken to upside? Hmm...
  • #19,462
  • Mar 22, 2010 10:21am Mar 22, 2010 10:21am
Quoting blurbear
Intra day falling wedge broken to upside? Hmm...
backtesting the falling wedge breakout?

place stops at 9127 for my longs oco 9170 and 9180 sells.
  • #19,463
  • Mar 22, 2010 11:28am Mar 22, 2010 11:28am
Could be heading up? I'm onboard anyway!
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The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #19,464
  • Mar 22, 2010 11:36am Mar 22, 2010 11:36am
On target for backtest of previous breakdown of a smaller rising wedge? within a bigger rising wedge.

Be wary of failure at 9170-90 as it will set up for potential formation of right shoulder of SHS. If we can break back above 9200, potential is to head towards upper resistance zones again at 9240-50.


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  • #19,465
  • Mar 22, 2010 11:44am Mar 22, 2010 11:44am
Quoting Clouds
3) sell the rallies in a down trend, buy the dips in an up trend. Trends don't change often more than once a year, so I'm talking about a longer time frame here.
Thanks bro for reply But i was hope some of newbie answer this but seems no newbie here or maybe no one need my advice, so no more advices.

Any way to complete the subject as clouds says

Here it's what i believe and what i read it as it's written:
There's an old trading axiom that "The trend is your friend." It means that you have a higher probability of success when you trade in the direction of the major trend, , the lowest-risk trade, with the highest probability of success, When you are buying dips (support) in an up-trending market or selling rallies (resistance) in a down-trending market.

There is many posts on many other thread forget that Fact AND Try to Catch the top or the Bottom and the buy the dips With Downtrend and sell the rallies with Up Trend!!

I'm not against any other way of trading but that my View and i prefer to play safe with my hard earned money.

GL All
  • #19,466
  • Mar 22, 2010 11:55am Mar 22, 2010 11:55am
Quoting egkid
Here it's what i believe and what i read it as it's written:
There's an old trading axiom that "The trend is your friend." It means that you have a higher probability of success when you trade in the direction of the major trend, , the lowest-risk trade, with the highest probability of success, When you are buying dips (support) in an up-trending market or selling rallies (resistance) in a down-trending market.
it's also completely necessary if you want to trade longer time frames and dont want to open new trades everyday
  • #19,467
  • Mar 22, 2010 11:57am Mar 22, 2010 11:57am
9170 done!! move balance sell stop to 9147 oco 9180.
  • #19,468
  • Mar 22, 2010 12:03pm Mar 22, 2010 12:03pm
Quoting Clouds
it's also completely necessary if you want to trade longer time frames and dont want to open new trades everyday
YEP, less trades with higher probability of success
  • #19,469
  • Mar 22, 2010 12:29pm Mar 22, 2010 12:29pm
lots of big orders will come tonight
  • #19,470
  • Mar 22, 2010 12:53pm Mar 22, 2010 12:53pm
Quoting trade price
lots of big orders will come tonight
??? please explain. direction?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,471
  • Mar 22, 2010 1:04pm Mar 22, 2010 1:04pm
Saxon, do you trade on higher TF's? 4hr, daily, weekly? If so, do you see the 40ma on the 4hr and the weekly pivot at 9165 to be acting as tough resistance and ultimately the high for the rest of the week?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,472
  • Mar 22, 2010 1:09pm Mar 22, 2010 1:09pm
Quoting egkid
9165 on 1h good R
Let's see what will happen from here and remember
Triple Witching
Seems it play hard
well price back to test the R again But sorry dear No other place to go
  • #19,473
  • Mar 22, 2010 1:34pm Mar 22, 2010 1:34pm
Quoting blurbear
9170 done!! move balance sell stop to 9147 oco 9180.
looks like stalling and struggling. sold balance at 9165.

set new sell orders 9180, 9190, 9200 with stops 9220.
  • #19,474
  • Mar 22, 2010 3:30pm Mar 22, 2010 3:30pm
Quoting MarcVUM
Saxon, do you trade on higher TF's? 4hr, daily, weekly? If so, do you see the 40ma on the 4hr and the weekly pivot at 9165 to be acting as tough resistance and ultimately the high for the rest of the week?
Hey Marc,
I trade 4H and lower usually due to the duration of my investment rounds. The only MAs that I am looking at right now are 50, 100 and 200.
100 works well for me in many time frames. If I see something in the upper TFs I will take it and let it ride for a while. The only really good
opportunity that I am seeing right now, for me, is in the weekly TF, if we have another day or so, TSR will change and I will probably enter a
6 month short. But that is all depending on the next few days. My support/resistance levels for the TFs that we are trading in are as follows:
The 00s
On 4hr, you can make a simple Fib Expansion, which I don't usually use, but seems to be working quite well
Fib Fan based on 4HR
The actuall prices are as follows +/- a few pips
91295
91655
91920
91783
for you fib exp start it on Feb 8th low and peak on Feb 23rd high, swing to Feb 25th low. This wil give you some solid firgures for
our current price area. Start you fib fan on Feb 25th Low, peak on March 17th. These areas give me some good lines to look at.
Be aware of 00s.
On your weekly frame, throw a TL around Nov 15 2009 high, Jan 10 high and March 14 high. This will give you an idea of this trend and
what to expect if we can reach that Trend Line again.
On your daily frame, you 40MA could be used for sup/res line but be aware of your 100MA as we will reach it very soon. I ALWAYS have a
100MA to show be direction and it has always provided great Sup/Res for me. Also, if you had put that TL from the above in on your weekly chart
you will now see the expandding opportunity if you throw a TL now on the lows. Which means if we have a swing down to the new channel we
just formed, this will last a significant amt of time, and when compared to your weekly with a TSR you can see that this could be a major
change. MAs on Daily and weekly are leveling and changing direction this week and maybe next. I have my finger on the trigger for the
weekly change.
  • #19,475
  • Mar 22, 2010 3:40pm Mar 22, 2010 3:40pm
Some view on aussie:
I'm not a fan of head and shoulders, but it looks like aussie is trying to form one on 4hr. Needs a 4hr close below 4hr Neckline for a decent confirmation.
To spice things up, the DXY broke out of the bull flag, with a test. (The chart I've been posting last week).
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  • #19,476
  • Mar 22, 2010 4:28pm Mar 22, 2010 4:28pm
AU looks like a great short setup in the making.
Bearish Divergence on the Daily TF and overbought. (chart 1). Daily Stochastic crossed down too and I will be watching for a Daily close below the Gann line. (chart 2)

I expect a spike up to test previous resistance, (or very near it), before any freefall.

Chart 1
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Chart 2
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  • #19,477
  • Mar 22, 2010 4:31pm Mar 22, 2010 4:31pm
Quoting Saxon
Hey Marc,
I trade 4H and lower usually due to the duration of my investment rounds. The only MAs that I am looking at right now are 50, 100 and 200.
100 works well for me in many time frames. If I see something in the upper TFs I will take it and let it ride for a while. The only really good
opportunity that I am seeing right now, for me, is in the weekly TF, if we have another day or so, TSR will change and I will probably enter a
6 month short. But that is all depending on the next few days. My support/resistance levels for the TFs that we are...
Thanks. Seems we are on the same page which is always a good feeling in this lonely occupation! Cheers.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,478
  • Mar 22, 2010 5:29pm Mar 22, 2010 5:29pm
0.9230
  • #19,479
  • Mar 22, 2010 5:34pm Mar 22, 2010 5:34pm
Quoting MarcVUM
Thanks. Seems we are on the same page which is always a good feeling in this lonely occupation! Cheers.
I got a really small short position I just opened. We'll see how it goes. How has your trading day been?
  • #19,480
  • Mar 22, 2010 5:35pm Mar 22, 2010 5:35pm
Quoting Daytrader74
0.9230
Is that were you think it will go? When do you anticipate this happening? My view is Bearish
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