Hello, here we can have a good entry. going short
http://img293.imageshack.us/img293/5...dcad020510.jpg
What do you think?
http://img293.imageshack.us/img293/5...dcad020510.jpg
What do you think?
- #13,842
- May 3, 2010 1:29am May 3, 2010 1:29am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #13,844
- May 3, 2010 4:04pm May 3, 2010 4:04pm
Hey Dhb,
I have checked out that pattern before on the NBT webpage. There is just one point about that I dont' get and that is the FLAG. I don't see what he's talking about. Do you have an image of of a spike base where you could point out a "FLAG" to me?
Sorry for being so dense.
Thanks
Tex
First of all, I'm not Steve, so I can only give you my interpretation of what he refers to when mentioning a flag. That doesn't necessarily mean my interpretation is correct.
I hope the quality of the image below isn't too bad. The motherboard of my laptop has died on me recently, and for the time being, I'm forced to use an old pc that's only equipped with Paint, lol.
The second example on the NBT page that discusses the base pattern imho shows a flag pattern most clearly. In the chart below, I've tried to show where I think it's located.
Hope this helps?
It's not about how much you make, it's about how much you don't lose.
I didn't trade UJ but I shorted CADJPY and EURJPY instead.
Hey Tex,
First of all, I'm not Steve, so I can only give you my interpretation of what he refers to when mentioning a flag. That doesn't necessarily mean my interpretation is correct.
I hope the quality of the image below isn't too bad. The motherboard of my laptop has died on me recently, and for the time being, I'm forced to use an old pc that's only equipped with Paint, lol.
The second example on the NBT page that discusses the base pattern imho shows a flag pattern most clearly. In the chart below, I've tried to show where I think it's...
thanks for the flag pic.
Am I looking correctly at this chart? Is this a spike base pattern inside the ellipse?
- #13,850
- May 5, 2010 1:41am May 5, 2010 1:41am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
There's been loads of them and they're all playing out nicely. Here is my favourite at the moment. It's just a box and you don't have to be clever to work out what the stop loss is, what the target is, and why. (On my feed there was a daily close below .7200)
Patience may be a factor here, though, it being NFP week I believe:
Patience may be a factor here, though, it being NFP week I believe:
Gone to a better place
- #13,854
- May 11, 2010 10:50am May 11, 2010 10:50am
- Joined Dec 2009 | Status: Nil Desperandum | 389 Posts
Afternoon people
CADJPY is moving back up to 92.00 - 92.11, strong support/resis zone before the dramatic moves of last week. Also confluence here with the 78% fib retrace of the last high to low move on the daily.
If price can hit these levels reasonably soon (next few hours) without hanging around, I will take a couple of shorts at intraday resis levels..
Any thoughts about this nobrainer . . .
VP
CADJPY is moving back up to 92.00 - 92.11, strong support/resis zone before the dramatic moves of last week. Also confluence here with the 78% fib retrace of the last high to low move on the daily.
If price can hit these levels reasonably soon (next few hours) without hanging around, I will take a couple of shorts at intraday resis levels..
Any thoughts about this nobrainer . . .
VP
Nil desperandum
- #13,856
- May 11, 2010 12:31pm May 11, 2010 12:31pm
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Afternoon people
CADJPY is moving back up to 92.00 - 92.11, strong support/resis zone before the dramatic moves of last week.
Love your films, by the way, Vincent.
Gone to a better place
- #13,857
- May 11, 2010 12:33pm May 11, 2010 12:33pm
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #13,858
- May 11, 2010 4:33pm May 11, 2010 4:33pm
- Joined Dec 2009 | Status: Nil Desperandum | 389 Posts
I can see what you mean about that level and other JPY pairs seem to be moving towards resistance. To me it doesn't stand out, you know, like a no brainer. It's a mess of resistance with 92 as the big round number where we might see a reversal. This is where I sometimes,..... shhh... don't tell the James16 crowd,.... use indicators. What!!
Love your films, by the way, Vincent.
Looking at 92 on the CAD JPY and 142 on the GBP JPY, the levels have worked well as strong support points but never acted even once as resistance , which could have the affect of accelerating price through the level. . . If price snakes slowly up to these levels I will not sort from them but if it manages to hit the levels with a moderate amount of momentum, I will look to trade the first bounce. I favour the CAD JPY for this type of trade , less capricious than the GPY JPY.
VP
Nil desperandum
- #13,860
- May 12, 2010 12:31pm May 12, 2010 12:31pm
- Joined Mar 2008 | Status: Trader | 1,462 Posts
SR,
I would surely follow this with interest but in my mind, set it and leave it still is a scary thought and I believe even some of the best NBT levels require some discretion. Perhaps this stems from my lack of screen time with these levels or pure insecurity...I don't know.
Nonetheless, I would be interested in what you're coming up with, experiences, etc.
Hope all is well on the West side! Sunny and 80 over here in Richland, hard to beat
I would surely follow this with interest but in my mind, set it and leave it still is a scary thought and I believe even some of the best NBT levels require some discretion. Perhaps this stems from my lack of screen time with these levels or pure insecurity...I don't know.
Nonetheless, I would be interested in what you're coming up with, experiences, etc.
Hope all is well on the West side! Sunny and 80 over here in Richland, hard to beat
Hi NB Traders,
I haven’t posted here for quite awhile but as I am going to try to change my style of trading, I thought I would log the experience here for others to comment on. If it generates some interest, I will continue; hopefully I will be able to determine that interest from the comments.
[font=Times New Roman][size=3]What I am going to try to do is move my normal NB day trading into a long term style where I can simply study the market for one or...