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  • #11,381
  • Apr 9, 2010 1:37am Apr 9, 2010 1:37am
Quoting tmanbone
http://i39.tinypic.com/nxomt5.gif

Traded first resistance to first support, then on to second support. Hammer is telling the tale. "Should I stay or should I go" The Clash. I really like the way that some of you veterans are posting small charts with the ability to enlarge to full size. I haven't figure out how you all are doing that yet. Are any lessons available? Thank you all.
I really like the way that some of you veterans are posting small charts with the ability to enlarge to full size. I haven't figure out how you all are doing that yet. Are any lessons available?

In MT4 go to "file" then "save as picture" then just save the pic to your comp and use the "manage attachments" option to add the file to your post.
  • #11,382
  • Apr 9, 2010 1:44am Apr 9, 2010 1:44am
Quoting Raje$h
My first Strat trade post.

I still have a problem defining monthly and weekly trends. For this trade, I am calling the monthly trend "up" as February candle is the last confirmed low. Similarly, I am calling the weekly trend "up" due to the weekly candle of 22-26 March being confirmed as swing low.

Pair: EURJPY
Trade: live, micro (10 cents/pip)
PASR: hammer bouncing off 50, closing above 20

Entry: long above the hammer high
S/L: below the hammer
Target: resistance at 127.8

Problems: does BEOB on weekly chart cancel out the "uptrend"?...
I agree with Jideck here.

Why not find one of the JPY crosses that have retraced to the 20 with PASR that is in a clear uptrend to go long?

When these days where we have many good candles show up we need to analyze all the pairs and find the safest most stress free trades and pick them over the others.
  • #11,383
  • Edited 1:48am Apr 9, 2010 1:46am | Edited 1:48am
I still have a problem defining monthly and weekly trends.

As far as as the trends are concerned, you should have a good idea how to determine a trend, earlier on the thread Strat explained this in a detail on number of occasions. The best is to minimise your candles and draw a line following the high of the candles either up or down, this will tell you which is the previling trend.

Thanks, Jideck.
I completed reading the thread only last week. Still in a daze....And no, I have almost no trading experience.

Still, quoting Strat Post 3780, page 252,
"....you can see the dominant trend is UP as shown by the deep sky blue channel line.

Then zoom in to find the intermediate trend as shown by the magenta line.

Then zoom into that trend to find the short term trend as shown by the gold line.

Then zoom into that trend to find the immediate trend as shown by the lime green line.

You need to be aware of all these trends when trading the Worker to know whether you are with or against the trend.

So, to trade the Worker, you need to know the IMMEDIATE BOSS trend since this governs the Worker direction. "

Guess what I was trying to say in my post is the identification of the "immediate" Boss and Big Boss trends. For this I feel we need to see where the current price is in relation to last confirmed swing low or high.

What's your take on the above?

Regards,
Rajesh
  • #11,384
  • Apr 9, 2010 2:19am Apr 9, 2010 2:19am
Quoting CostinTira
Hello Strat & Team ,

Since I have been registered on The Path by Marcus I thought I'd share something about me and my "trading career" so you know whose posts you're reading (I am almost finished with reading the thread and I plan on posting a lot of questions ).

My first name is Costin, I am from Romania (hello Soso and hcristea). I am 27 years old, married, one daughter who is 1 year and 4 months old.

[...]

CT
Hey man!

Nice to see another romanian fellow here, wouldn't take long and we'll be creating "the strat's romanian faction" .

You're in a great place, stick around read and understand the thread, ask questions and most important have patience with yourself. It could literally take years to beat this game.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #11,385
  • Apr 9, 2010 2:21am Apr 9, 2010 2:21am
Out of all JPY pairs this one looks best to me.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.png Size: 73 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #11,386
  • Apr 9, 2010 2:34am Apr 9, 2010 2:34am
Hello Strat & all,

i've noticed the JPY pairs aligning last night (after NY close) and I watched these three pairs in particular: USDJPY, GBPJPY, EURJPY. So if i had to place my bet for a LONG I would choose GBPJPY.

Looking at the charts of EURGBP, EURUSD, GBPUSD, I see that GBP is stronger than Euro short term (last 4 weeks), GBP stoped going down vs USD and also EURUSD stopped going down.

Looking at the upper TFs of EURJPY, USDJPY, GBPJPY, I see Big Boss and Boss in agreement on all 3 pairs but the Worker looks better for GBPJPY. The hammer on GBPJPY worker was rejected by the 140 support, closed above Boss 20 and above Worker supply DSRI.


What would be your JPY pair of choice considering if you had to short JPY?


Quoting strat
So, on my data, we have 3 Hanging Men trapped in the 20/50 box!

There must be a Japanese name for this pattern?

Where are the Japanese Candlestick experts when you need them most?
The Three Ninja Fail?
  • #11,387
  • Apr 9, 2010 2:49am Apr 9, 2010 2:49am
Hello hcristea,

Trying to answer your question on what JPY pair I would choose here is the answer:

Monthly is in an uptrend for the last 14 months.
Weekly recently closed above the 86.00 Resistance that held price down for the last 20 or so weeks.
Daily retraced to the Res turned into Support at 86.00 and formed a Hammer (On the 17:00 EST close feeds it looks a lot better than on my chart .. I watch those too).


Hope I got at least the trend right .

CT


Quoting hcristea
Hello Strat & all,

i've noticed the JPY pairs aligning last night (after NY close) and I watched these three pairs in particular: USDJPY, GBPJPY, EURJPY. So if i had to place my bet for a LONG I would choose GBPJPY.

Looking at the charts of EURGBP, EURUSD, GBPUSD, I see that GBP is stronger than Euro short term (last 4 weeks), GBP stoped going down vs USD and also EURUSD stopped going down.

Looking at the upper TFs of EURJPY, USDJPY, GBPJPY, I see Big Boss and Boss...
Attached Image (click to enlarge)
Click to Enlarge Name: aud - jpy-daily - apr 9.jpg Size: 93 KB
  • #11,388
  • Apr 9, 2010 3:00am Apr 9, 2010 3:00am
Thanks for the nice welcome. Maybe we can make an offline fan-club or something .

We could gather together and light fires and bring offerings to Strat and the other Cert Trainers..
Like maybe virgins or something .

CT

Quoting soso
Hey man!

Nice to see another romanian fellow here, wouldn't take long and we'll be creating "the strat's romanian faction" .

You're in a great place, stick around read and understand the thread, ask questions and most important have patience with yourself. It could literally take years to beat this game.
  • #11,389
  • Apr 9, 2010 3:14am Apr 9, 2010 3:14am
Or maybe CAD/JPY.

Monthly shows an uptrend. The price stopped going up for 6-7 months when it was trapped in a consolidation area, but it just broke out of it.


Weekly is strong bullish with the recent breakout.


Daily shows a Hammer after a retracement following the breakout.



I am choosing AUD and CAD over the majors because I had some strong S/R levels that kept the price confined in ranges. I was actually waiting for breakouts and retest on those levels or their proximity. They are both with a clearly defined trend.

CT


Quoting CostinTira
Hello hcristea,

Trying to answer your question on what JPY pair I would choose here is the answer:

Monthly is in an uptrend for the last 14 months.
Weekly recently closed above the 86.00 Resistance that held price down for the last 20 or so weeks.
Daily retraced to the Res turned into Support at 86.00 and formed a Hammer (On the 17:00 EST close feeds it looks a lot better than on my chart .. I watch those too).


Hope I got at least the trend right .

CT
Attached Image (click to enlarge)
Click to Enlarge Name: cad - jpy-daily - apr 9.jpg Size: 86 KB
  • #11,390
  • Apr 9, 2010 3:35am Apr 9, 2010 3:35am
Guess what I was trying to say in my post is the identification of the "immediate" Boss and Big Boss trends. For this I feel we need to see where the current price is in relation to last confirmed swing low or high.

Hi Rajeshhttp://cdn.forexfactory.com/images/icons/icon7.gif

Good to know that you are reading the thread, excellent, but ask yourself - do you understand it? Strat will be asking you this, and I can only pass on this question as I have been there already. Read the posts and understand, it is not as difficult as it seems but you need to do so.

If you need assistance, check post #11342 and you should understand then, there is not much one can say here, Strats post is basically a spoon feed.

I do not want you to feel discouraged, you will see after reading the whole thread 2 or 3 times that you recognise what I mean, do not rush, things will happen if you wish to be successful. The bottom line is read and understand with the focus on understand.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #11,391
  • Apr 9, 2010 3:45am Apr 9, 2010 3:45am
Sorry to seem wise after the event but I liked the look of chfjpy at the close last night.

If you look at usdchf that was at trendline resistance last night but not a clear enough pattern to trade and most jpy pairs are showing reversal signals, just not at s/r to support a trade. Put it together and it gave me a bit of confidence in chfjpy.

Great thread Strat, thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy 09 04 2010.gif Size: 32 KB
Position trader - Anything intraweek is just noise...
  • #11,392
  • Apr 9, 2010 4:43am Apr 9, 2010 4:43am
Here is an article recommended by Brett Steenbarger on his blog:

http://money.cnn.com/magazines/fortu...1794/index.htm

I think all of us should read it and be aware of the importance of "deliberate practice" (targeted practice) in our development as traders.

I found it in the newsletter sent out by Lance Beggs (yourtradingcoach.com). I know some of his articles on candlesticks were recommended in the first 50 or so pages of the thread. He's got some good articles and links on his site.

CT
  • #11,393
  • Apr 9, 2010 5:03am Apr 9, 2010 5:03am
Quoting CostinTira
Hello hcristea,

Trying to answer your question on what JPY pair I would choose here is the answer:

Monthly is in an uptrend for the last 14 months.
Weekly recently closed above the 86.00 Resistance that held price down for the last 20 or so weeks.
Daily retraced to the Res turned into Support at 86.00 and formed a Hammer (On the 17:00 EST close feeds it looks a lot better than on my chart .. I watch those too).


Hope I got at least the trend right .

CT
Thank goodness someone is listening
#11083
  • #11,394
  • Apr 9, 2010 5:06am Apr 9, 2010 5:06am
Speaking of trendlines....
Attached Image (click to enlarge)
Click to Enlarge Name: chunnel.gif Size: 23 KB
  • #11,395
  • Apr 9, 2010 5:11am Apr 9, 2010 5:11am
Quoting Alexandra
... traders should have this one on the radar for a nice, harmonious daily signal. Good for you, Baniu.
Congratulations Baniu.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 24 KB
  • #11,396
  • Edited 5:35am Apr 9, 2010 5:20am | Edited 5:35am
Hi Alexandra,

I am watching EUR/GBP too but I am actually waiting for the price to break out of the triangle.. I would prefer on the upside, since the previous trend is up, but I'll just have to wait and see.

Are you considering trading a rejection of the trendline with appropriate PA, or waiting for a breakout too?

Thanks,

CT

Quoting Alexandra
Speaking of trendlines....
Attached Image (click to enlarge)
Click to Enlarge Name: eur - gbp-daily- line - apr 9.jpg Size: 111 KB
  • #11,397
  • Apr 9, 2010 5:24am Apr 9, 2010 5:24am
Actually I am currently reading post #9961 , so I didn't see your Picasso post until now.

But it makes me feel great knowing that we looked at the same thing!!

CT

Quoting Alexandra
Thank goodness someone is listening
#11083
  • #11,398
  • Apr 9, 2010 6:50am Apr 9, 2010 6:50am
Quoting CostinTira
Hi Alexandra,

I am watching EUR/GBP too but I am actually waiting for the price to break out of the triangle.. I would prefer on the upside, since the previous trend is up, but I'll just have to wait and see.

Are you considering trading a rejection of the trendline with appropriate PA, or waiting for a breakout too?

Thanks,

CT
One cannot justify a long under Strat's eye on that one a this point; your analysis is spot on, though. I point it out, however, as the next possible set up over the next few days/weeks.

As for AUDJPY, my sentiments on that one have been painfully obvious since that infamous quote about the North Pole and crack.
  • #11,399
  • Apr 9, 2010 7:10am Apr 9, 2010 7:10am
Speaking about North Pole and crack..

Here is my view on AUD/USD. All comments more than welcomed...

CT
Attached Image (click to enlarge)
Click to Enlarge Name: aud-usd - daily-apr 9.jpg Size: 114 KB
  • #11,400
  • Apr 9, 2010 7:28am Apr 9, 2010 7:28am
I belive this one looks better than its cousin EURGBP, from the point of view of the trend.
Now is testing RN 1.65 + Trendline + Weekly 20 EMA.

Have a nice weekend everyone! Go away from the charts and recharge your batteries.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.png Size: 71 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
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