Kodflakes Distortion

I think it's critical to draw the channel correctly.
This version is much better:

Pullback to the channel.

I revise channels quite a bit brian Ive got one Im eying on the euro right now and that is about it still looking

This is the Gu and I was looking at both the candles at the white arrows the upper candle was a better looking entry on candle alone but the area was not my ideal area. The second you would have had to enter almost blind simply because the engulfed candle stopped on the area. I did some reading yesterday and found an intersting thread about this type of trading. Ive never been able to put the words to it that this guy did. In short I said to count waves look for the impulse waves to build your cahnnels (if I remember right but like I said this is a work in progress)

Now this is another thing I have been working on and when I entered I didnt have a location for a hard stop but my static stop was the top of the channel. Now both these highlighted areas are based off of previous engulfing candles that were significant in the previous trend. You can take 10 pips off these candles in most cases pretty easily when you wait for the tops/bottoms. I took an entry near the top went down about 20 pips should have added but I was wondering if this was gonna continue so I watched and looked for reasons to get out didnt see enough. The thing that kept me in mostly was the 4hr was begining to form a doji which means very little except that a bit back that same candle kissed a the close of a 12hour area that was important. None the less I took 23 pips off it for a pinch more than 1%. have a good day all and enjoy the weekend Im done

Hi,
What do you think about an AUDNZD long by virtue of the daily chart?

I watch the Eu, GU, EY, and Gy everynow and then I look at the cad, eur/gbp, and UJ nothing else really.

Now if you look at the daily and go form the next point low notice that the channel is a pinch less as strong(red and blue line). As for the weekly I would not buy into that but that is my and I have been wrong many times. It is on the channel for the weekly man If you like it take it

Now I am going to be looking for an entry in the the upper square Long, I want to see price give me a solid reversal candle for this doji, hammer, etc. My stop will be placed in the area of the second square. Now the way things are looking it may not come back. I will not be playing the bottom of this channel and if it gets back there I think it will break through and if it does I will be linking the two current highs for a descending channel and look for the bounce off of it.

Now this one may continue but I dont care I got 20 out of it or 1% Im done for the day have too many things to get done to sit and look

perfect day for the distortions here in UK

Time on a trade that is against the trend is a big factor in my opinion. Now overall it may be with the trend but currently it is against it. My entry was on an area that was dependant on a previous engulfing candle and in short a scalp for me I look for 5-10 pips and actually went up 5 for a bit but got greedy and it never made new ground so after 45 minutes I got safe and took enough pips to pay for my next full position's commision so ha got one over you broker lol Ill see ya in the morning I came out with a pinch over 1% hope your day went well ideal horizontal channel plays on GU and EU but those are dangerous on low timeframes

Should have held on to that one and left the risk on the table but hey thats trading it felt safer at the moment to get the risk off the board

Tanks abroad bail out greece and this is what happens euro so whats gonna happen when china busts on their record boom. Ive read reports of parts of china (I think its china its in asia all of the places of these aritcles) where the people that live there and will likely be the workers of these huge resorts cannot afford to buy homes because it is too expensive now. Investors are coming in with bags of cash to snatch up property on speculation. Mexico is expected to be hit harder by this oil spill than the US, crisis around the world, markets should be interesting. im up almost 3% since the close of yesterday on 3 great scalps should have held the EY that would have been at least 5% if I held it to the tp and huge gain if I would have managed it well but on the same side of that if I would have kept it I would not have been in the market this morning. If anyone has any questions on some of the stuff that is not on channels please ask Ive got it figured out now and it is borrowed from another forum but it plays in well with the channels while waiting for them to hit.

yeah I don't mind hearing about it mate

Here is the GU now when it comes to waves Elliot had something counting the impulse waves and ignoring the corrective ones. Impulse waves always go more its just a question as to if they are impulse or not. Look at the pic can you see them Impulse waves break out out of areas that corrective ones cannot. But where the corrective ones cannot breakout of tend to show areas where entries are a great place. Notice the blue boxes. Now if you have played with price and S/R for a decent amount of time you should be able to spot these without trying seeing channels that are not marked yet. Practice seeing these things and if you cant do it now than in time you will be able to spot it in sideways markets. as for telling people about this stuff Im not the best the forum is called intraday trend trading with price action 2 active trading and there is another one started by the same guy cant remember the other forum. Take a look at it it will help alot

The white lines illustrate impulsive waves the wave you want to ride.The red arrows illustrate entry areas at S/R zones. Think about this chart where are the safest most probable entries. we all see different things but this is how I see it. I missed all this and am kicking my self in the arse but I have work that needs to be done so hey it is what it is.

Yep it is a nice thread and notion

On this there were many chances to get in and I think this will continue down quite a ways Im hoping to see it come back to the channel so I can get in do not expect it but if it does before it tanks I will get in short. First entry bounce off of channel second entry at the close of the gravestone doji at the arrow. At the moment pips up would be 60+ pips off channel and almost 50 off of the doji this would have been a week maker in less than an hour

I took a couple on Euro the first one was off a minor area 1/2 normal position getting a pinch over 5 pips and about 1/4% it stalled 2 or 3 times at 6-8 pips figured I would get a better price, luckily I did. The second clear entry off of the channel normal position no stop on this one as I wanted to watch it with all the whippy action. It came down quite well and again hesitated heavy in the same area as the last figured 26 pips was well worth it end of day for me made a bit over 2% on the second trade woke up about an hour late to get the Gy

Well what a day yesterday should have kept watching and tryed in on that fall. There is a rumor floating about in many places now and Portugal is rumored to be asking for 280 billion if that happens we will have another day like this pay close attention and look for it. Those days are gifts be prepared to get in the market wait for pullbacks and let them ride. The US had some great looking NFP numbers I feel that it is already priced in and will be bouncing in a pretty tight range but we will see. Considering normally numbers like that would send the euro down 100 pips in the first 30 minutes and 150 on the GU