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Backing Trades Thru Charts

  • #661
  • May 17, 2010 4:51am May 17, 2010 4:51am
This intraday snapshot of the daily GBP/USD chart shows that price bounced hard from the lower line of this red pitchfork I am using for months.

We might retest that lower band first, but I do expect a revisit of the median line here.
Attached Image (click to enlarge)
Click to Enlarge Name: 20100517gbpD.gif Size: 32 KB
  • #662
  • May 17, 2010 5:10am May 17, 2010 5:10am
Quoting X.Oden
Thanks....still trying to decipher Better Volume....
Here's the cliff notes version. I'd suggest reading the entire thread though.

http://www.forexfactory.com/showpost...&postcount=171
Every time you use 'hopium' in a post, God kills a kitten.
  • #663
  • May 17, 2010 7:01am May 17, 2010 7:01am
Dang! I sure hope CADJPY reverses back short. I had longs open and closed em and reversed em to short. I woulda been up a chunk by now....guess we'll see what happens. Trend is still bias downtrend.
In Charts We Trust!
  • #664
  • May 17, 2010 7:30am May 17, 2010 7:30am
Ahh looks like the bulls are giving way....cmon bears! Get down here!
In Charts We Trust!
  • #665
  • May 17, 2010 7:40am May 17, 2010 7:40am
30 M Analysis CADJPY...

I see an early TL Break within a down slop channel..
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy 30m fmc simple swing.gif Size: 27 KB
In Charts We Trust!
  • #666
  • May 17, 2010 7:47am May 17, 2010 7:47am
I hope so to X we have a LTL to deal with as well as a 15 min pinbar now might lock 50 in..best of luck..
Attached Image (click to enlarge)
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  • #667
  • May 17, 2010 8:47am May 17, 2010 8:47am
BAT

Attached Image (click to enlarge)
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  • #668
  • May 17, 2010 8:55am May 17, 2010 8:55am
The USDCAD has some further upside. Ascending channel is a bit wobbly (and possibly not valid... time will tell if it becomes something else entirely), but a break of a long term downward channel + a retest as of a few minutes ago has me buying more. Barring the crazy breakout of the Thursday before last which distorted everything, I believe this one is going to work!
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 114 KB
Every time you use 'hopium' in a post, God kills a kitten.
  • #669
  • May 17, 2010 9:06am May 17, 2010 9:06am
Quoting profxtrader
The USDCAD has some further upside. Ascending channel is a bit wobbly (and possibly not valid... time will tell if it becomes something else entirely), but a break of a long term downward channel + a retest as of a few minutes ago has me buying more. Barring the crazy breakout of the Thursday before last which distorted everything, I believe this one is going to work!
The last hourly candle just closed in a formation I like to call a BAH pattern.

BAH = Big-Assed Hammer.
Every time you use 'hopium' in a post, God kills a kitten.
  • #670
  • May 17, 2010 9:08am May 17, 2010 9:08am
Quoting profxtrader
The USDCAD has some further upside. Ascending channel is a bit wobbly (and possibly not valid... time will tell if it becomes something else entirely), but a break of a long term downward channel + a retest as of a few minutes ago has me buying more. Barring the crazy breakout of the Thursday before last which distorted everything, I believe this one is going to work!
Buddy don't forget to plot this one on your chart. #599
  • #671
  • May 17, 2010 9:13am May 17, 2010 9:13am
Quoting Hell7
This intraday snapshot of the daily GBP/USD chart shows that price bounced hard from the lower line of this red pitchfork I am using for months.

We might retest that lower band first, but I do expect a revisit of the median line here.
Didn't see it on time. Missed the bounce of this equidistant lines. You have to post more often, it is your fault!!!! LOL

Attached Image (click to enlarge)
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  • #672
  • May 17, 2010 9:17am May 17, 2010 9:17am
Quoting TheLastCoke
Buddy don't forget to plot this one on your chart. #599
Well spotted. I'm beginning to think that with all of these eyes on the charts, seeing different things, that the FX market might just get smashed by a few guys on FF.
Every time you use 'hopium' in a post, God kills a kitten.
  • #673
  • Edited 10:45am May 17, 2010 9:51am | Edited 10:45am
Quoting TheLastCoke
BAT

Attachment
T2 Looks promising.

Attached Image (click to enlarge)
Click to Enlarge Name: batmet2.gif Size: 19 KB


EDIT: T2 met
  • #674
  • May 17, 2010 11:13am May 17, 2010 11:13am
Long at the TL touch, tigh SL.

Attached Image (click to enlarge)
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  • #675
  • May 17, 2010 11:36am May 17, 2010 11:36am
You guys are good man. I may convert over to naked charts once I learn this stuff all over again....hopefully the right way this time. I'll try to post some charts without indies......

Thanks ProFX for coaching me on this CADJPY trade....

LastCoke, you know I've always been a fan of your simplicity....thanks for starting this thread.
In Charts We Trust!
  • #676
  • May 17, 2010 11:40am May 17, 2010 11:40am
Quoting X.Oden
You guys are good man. I may convert over to naked charts once I learn this stuff all over again....hopefully the right way this time. I'll try to post some charts without indies......

Thanks ProFX for coaching me on this CADJPY trade....

LastCoke, you know I've always been a fan of your simplicity....thanks for starting this thread.
We need lots of help over here man. Don't hesitate to post your analysis even with indies.
  • #677
  • May 17, 2010 11:56am May 17, 2010 11:56am
Quoting X.Oden
Thanks ProFX for coaching me on this CADJPY trade....
No problem... now that I know who you are.


I've known this guy for years outside of the forum. It's a small world.
Every time you use 'hopium' in a post, God kills a kitten.
  • #678
  • May 17, 2010 12:45pm May 17, 2010 12:45pm
Ok, well CAD's moving back up....I haven't taken any profits though. Its now going into negative territory. Perhaps I shoulda done BE+1 and taken half off....we'll see what happens...

I'll start posting what I typically look at with indies and compare with the naked charts...

What TF's do you guys use though? I'm mainly 4hrs now and I'll zoom in and out at the 1Hr and Daily's..
In Charts We Trust!
  • #679
  • May 17, 2010 1:27pm May 17, 2010 1:27pm
Quoting TheLastCoke
Long at the TL touch, tigh SL.

Attachment
Perfect trade, no drawdown. Out and flat

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  • #680
  • May 17, 2010 1:35pm May 17, 2010 1:35pm
Quoting X.Oden

What TF's do you guys use though? I'm mainly 4hrs now and I'll zoom in and out at the 1Hr and Daily's..
In my case I trade every single TF. Love daily and 4h channels, entries based on smaller ones, can hold for days or minutes.
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