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  • #13,901
  • May 21, 2010 5:48am May 21, 2010 5:48am
Quoting trueblueTEX
Hey Dhb,

thanks for the flag pic.

Am I looking correctly at this chart? Is this a spike base pattern inside the ellipse?
Hey Tex,

Here's a textbook example of a spike base pattern that just occurred on eurcad.

After the breakout from the orange box, price pulled back a little to form a base (left circle), and as you can see, price just bounced off of that exact same base level (right circle)...

Attached Image (click to enlarge)
Click to Enlarge Name: ec spike base.gif Size: 56 KB
It's not about how much you make, it's about how much you don't lose.
  • #13,902
  • May 21, 2010 9:13am May 21, 2010 9:13am
AUD/USD 1hr
Attached Image (click to enlarge)
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  • #13,903
  • May 21, 2010 11:01am May 21, 2010 11:01am
Take this trade if you want. USDCAD inverse H&S on daily chart attached. Target: 1.1429

Also supported by my weekly strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: Reverse H&S.png Size: 41 KB
  • #13,904
  • May 23, 2010 9:18am May 23, 2010 9:18am
Quoting neo1599
Take this trade if you want. USDCAD inverse H&S on daily chart attached. Target: 1.1429

Also supported by my weekly strategy.
Attached Image (click to enlarge)
Click to Enlarge Name: Reverse H&S.png Size: 41 KB
a H&S?
what do u think about this chart---

Attached Image (click to enlarge)
Click to Enlarge Name: Reverse H&S1.png Size: 40 KB
  • #13,905
  • May 23, 2010 9:44am May 23, 2010 9:44am
Quoting trade price
a H&S?
what do u think about this chart---
]
Thanks for pointing out that. Yes. The famous fat crow formation. A well known technical reversal pattern. You're right to bring attention to this post. I see so many efforts at posting so called head and shoulders formations that are truly horrible and coming from this person who has been a member since July 2006 I can only think he/she's having a laugh.

Having said that, two levels, 1.07 and 1.06 have been correctly identified and given that we are retesting 1.06 there's a good chance it will play out. Certainly a solid daily close above 1.07 would be bullish
Gone to a better place
  • #13,906
  • May 23, 2010 9:51am May 23, 2010 9:51am
Quoting smikester
Thanks for pointing out that. Yes. The famous fat crow formation. A well known technical reversal pattern. You're right to bring attention to this post. I see so many efforts at posting so called head and shoulders formations that are truly horrible and coming from this person who has been a member since July 2006 I can only think he/she's having a laugh.

Having said that, two levels, 1.07 and 1.06 have been correctly identified and given that we are retesting 1.06 there's a good chance it will play out. Certainly a solid daily close above 1.07...
i was surprise as well.lots of people in the ff from long time still they does not
know the basic patterns.
  • #13,907
  • May 25, 2010 1:16am May 25, 2010 1:16am
Quoting trade price
i was surprise as well.lots of people in the ff from long time still they does not
know the basic patterns.
oh my god!! LOL!!! I'll start looking for weird animal patterns in my charts now.
  • #13,908
  • May 29, 2010 3:21pm May 29, 2010 3:21pm
I just found this forum yesterday. I am impressed with the content of this thread. I actually trade very similar to the "No Brainer Trades" methodology, so I look forward to contributing to this thread.

I have attached a 60 minute chart of the USD/CAD with a couple of levels marked off.

The recent trend has been down and the 1.0540 area (bottom line on the chart) was a good sell area on Friday. Price already reacted well off the level a couple times Friday, so I'm not so sure another touch on Sunday/Monday would be high probability. We might want to wait and see how price reacts on another touch of the level first and then sell a retracement. Also, perhaps a break of the level to the upside could offer a buy opportunity on a retrace to the same 1.0540 level if price wants to go back into the recent range.

The 1.0730 area (upper line on the chart) could also be an area to look for a bounce down should price get up there.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 60 Minute.gif Size: 215 KB
  • #13,909
  • May 29, 2010 3:48pm May 29, 2010 3:48pm
Here is one more level on the USD/CAD. A potential buy could present itself at the 1.0420 area if price retraces down. We have a good fractal area at that level, a 127% Deep Fib Zone, plus it is just about 20 pips below last week's low. It seems like this one would be higher probability if it were to be hit on Sunday afternoon well before London gets going since it's unusual for the Asian session to commit to new levels. Time will tell.

P.S. Thanks to what I have learned from Chris Lori's Pro Traders Club I am able to start to spot some of these setups well in advance. I highly recommend his service for any aspiring forex trader. At least it has been a good fit for me.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD 60.gif Size: 172 KB
  • #13,910
  • May 30, 2010 8:54pm May 30, 2010 8:54pm
I ended up selling the USD/CAD this afternoon at 1.0545. I decided to do so because I figured today would be light volume with all the holidays and I figured the Asian session would have a hard time exceeding Friday's highs.

I used a 40 pip stop. I am targeting the lows and I have my take profit in at 1.0450.

My drawdown was only 5 pips. I moved my stop to breakeven when I got up 20 pips. Currently I'm up about 35 pips. We will see what happens. At least therre is no more risk in the trade.
  • #13,911
  • May 31, 2010 7:52am May 31, 2010 7:52am
I was fortunate enough to have just have my profit target limit order hit at 1.0450. This ended up being a 95 pip trade with only a 5 pip drawdown and the risk-reward ratio was over 2 to 1.

The trade took forever to hit my profit target. I don't know if the thin volume had anything to do with it or not. I am working on trying to be more patient on some of these trades so this was a good test for me.
  • #13,912
  • May 31, 2010 9:55am May 31, 2010 9:55am
Jeff, since you disabled recieving PM's, I sent you an e-mail about the PTC yesterday. Please check your mail. I'm looking forward to hear from you.
  • #13,913
  • Jun 2, 2010 6:24pm Jun 2, 2010 6:24pm
G/Y looks prime for short at 134.96,

it is bouncing off from Daily R1
  • #13,914
  • Jun 3, 2010 12:37am Jun 3, 2010 12:37am
EUR/GBP, big round number and a level that's been used a few times. Might be wearing thin???

Attached Image (click to enlarge)
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Here's one that everybody and his brother (who know how to trade) is waiting for:

Attached Image (click to enlarge)
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Gone to a better place
  • #13,915
  • Jun 6, 2010 11:52am Jun 6, 2010 11:52am
New to trading. I have just printed off the fantastic BRV/Ironman 'no brainer trades' and sincerely thank them both.

Superb!!!!! Thankyou.
  • #13,916
  • Jun 6, 2010 12:27pm Jun 6, 2010 12:27pm
Who's with me on this one?
Cable is heading toward the 1.4230~ area...
Attached Image (click to enlarge)
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From the tips to the dips, it's all about the pips
  • #13,917
  • Jun 8, 2010 8:58pm Jun 8, 2010 8:58pm
http://img443.imageshack.us/img443/3044/81777729.gif

http://img689.imageshack.us/img689/3565/93290718.gif

http://img229.imageshack.us/img229/5563/51894588.gif

http://img12.imageshack.us/img12/9329/41789208.gif
  • #13,918
  • Jun 9, 2010 9:46pm Jun 9, 2010 9:46pm
Euro pairs as they currently stand...
Attached Image(s) (click to enlarge)
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  • #13,919
  • Jun 10, 2010 3:09am Jun 10, 2010 3:09am
H1 Quasimodo on GU.
A bit tight, but played out well:
Attached Image (click to enlarge)
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  • #13,920
  • Jun 11, 2010 2:35am Jun 11, 2010 2:35am
Hi everyone,
Thought I would share some activity for old time sake.......we're now getting a push into the 3/4 part of this retacement as I write so 'we'll see' as they say...
Attached Image (click to enlarge)
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