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  • #12,601
  • Jun 7, 2010 3:55am Jun 7, 2010 3:55am
Quoting CrudeCraig
This is a pretty subjective topic but ill try and break it down a bit.
Thanks Craig, you have explained very well this difficult pair.
  • #12,602
  • Jun 7, 2010 4:01am Jun 7, 2010 4:01am
Quoting Raje$h
Hi CrudeCraig and seniors,

I traded the beast from below the shooting star of Thursday down to 132.6 - support on my chart.
Hi Rajesh,
I didn't traded the Thursday shooting star as next day was NFP, but you did a good job.
  • #12,603
  • Jun 7, 2010 7:52am Jun 7, 2010 7:52am
Quoting zmissler
So I have read and reread this forum. When you ask the question here it is very provacative to me. I see this as probably a place to clear some trades. I do see reversal candles at support, but really no price action from the levels YET. Also since most of the pairs you mention are underneath the MA's the only thing I can think of would be this is a place that you may clear some trades.

Hope those longs treated u well...I remained short...and added on bounces...not sure if I am in a better position or not!
  • #12,604
  • Jun 7, 2010 4:58pm Jun 7, 2010 4:58pm
Quoting CrudeCraig
Good first analysis Gibson!

The first thing i would point out is that you seem to have a few too many S/R levels. Zoom out a bit and concentrate on the major levels at first. Refer to blackeagles posts on S/R placement if you have any Q's.

The next is that GBP/JPY (AKA The Beast) is well known for huge bars like this and can make the pair difficult to trade. When first starting out, trading from R to first S and S to first R a 1/1 RR is not that bad IMO so not a real big deal there but the psychology of a huge bar SL like this one can be tough....
Thank you for your reply Craig. I will re-read Blackeagle's S/R post and work on my S/R levels.
Also if at least 1/1 RR cannot be achieved when trading from R to S or S to R, are these the type of trades that we should not take at all, or just when we gain more experience with PA.
  • #12,605
  • Jun 7, 2010 8:52pm Jun 7, 2010 8:52pm
Quoting GibsonL6
Thank you for your reply Craig. I will re-read Blackeagle's S/R post and work on my S/R levels.
Also if at least 1/1 RR cannot be achieved when trading from R to S or S to R, are these the type of trades that we should not take at all, or just when we gain more experience with PA.
Also if at least 1/1 RR cannot be achieved when trading from R to S or S to R, are these the type of trades that we should not take at all, or just when we gain more experience with PA.

I would not take them at all. After you have been trading as Strat teaches here for a while your trading will likely evolve into something that works for you. Whatever that "style" is we don't know yet but you will know when you find it, for now though the basics must be learned so that can happen.
  • #12,606
  • Jun 8, 2010 9:16am Jun 8, 2010 9:16am
Quoting anwarsadique
Live Videos...
http://www.youtube.com/user/TraderAnonymous
Dude. That's freaking awesome!
  • #12,607
  • Jun 8, 2010 10:31am Jun 8, 2010 10:31am
Quoting anwarsadique
Live Videos...
http://www.youtube.com/user/TraderAnonymous
Ok I watched first half afterwards I decided not to waste my time with daytrading anymore. So what's a daytrading video has to do with this thread?
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #12,608
  • Jun 8, 2010 12:28pm Jun 8, 2010 12:28pm
Quoting Nigel
Dude. That's freaking awesome!
Are you serious? That fool couldnt even tell you where he got in or out.

"uhm, yah I got in somewhere around here and uhh I made some money"

He could have easily switched to the acct history tab to sound a bit more professional instead of guess his entries... What a joke
  • #12,609
  • Jun 8, 2010 6:11pm Jun 8, 2010 6:11pm
Fellow traders,

Is this an example of buyers and sellers, bulls and bears being in equilibrium or agreement, about price, as Strat often describes?

If so can we anticipate a strong move after a breakout of the triangle?

Note the blue dashed lines show the extremes of the controlling Big Boss bar.

Opinions of the senior members particularly welcome.

Roger
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"Make everything as simple as possible, but not simpler" Albert Einstein
  • #12,610
  • Jun 8, 2010 10:03pm Jun 8, 2010 10:03pm
Quoting No1Optimist
Fellow traders,

Is this an example of buyers and sellers, bulls and bears being in equilibrium or agreement, about price, as Strat often describes?

If so can we anticipate a strong move after a breakout of the triangle?

Note the blue dashed lines show the extremes of the controlling Big Boss bar.

Opinions of the senior members particularly welcome.

Roger

Hey Roger,

Is this an example of buyers and sellers, bulls and bears being in equilibrium or agreement, about price, as Strat often describes?

Yes, todays price bar is a doji showing some indecision. Not surprising either, look at the candle extremes, the high is right at R and the low is at S.

Im not sure what the move will be like but i think how it breaks out of this coil will give us a good idea of how to trade it in the coming weeks. from the looks of the boss and big boss charts we look to be building a base here but it's too early to tell for sure.

You make good note of the big boss controlling bar BUT we have yet to break the Worker controlling bar, this is the one we need to be watching until it's taken out.



BTW Your middle TL is old news.
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  • #12,611
  • Jun 9, 2010 12:06am Jun 9, 2010 12:06am
My favorite chart at the moment. Just waiting for an opportunity.
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  • #12,612
  • Jun 9, 2010 2:56am Jun 9, 2010 2:56am
Hi CrudeCraig,

Should we be looking at CHF at all with all the news of SNB's massive intervention?

http://ftalphaville.ft.com/blog/2010...on-in-context/

Not that I understand much of it, just wondering if all this central bank activity ruins any attempt to interpret the charts.

Cheers!
  • #12,613
  • Jun 9, 2010 4:26pm Jun 9, 2010 4:26pm
I am watching and will be long above resistance at 125 with PA. All TFs are aligned.
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  • #12,614
  • Jun 9, 2010 6:26pm Jun 9, 2010 6:26pm
Hi Simpleman,

Worker seems to have made a HL and if breaks above 1.25 a HH but both Boss and Big Boss seem to be on the way down from 1.30 level.

Could you share your thoughts on this?
  • #12,615
  • Jun 9, 2010 8:40pm Jun 9, 2010 8:40pm
Quoting Raje$h
Hi CrudeCraig,

Should we be looking at CHF at all with all the news of SNB's massive intervention?

http://ftalphaville.ft.com/blog/2010...on-in-context/

Not that I understand much of it, just wondering if all this central bank activity ruins any attempt to interpret the charts.

Cheers!
As long as some of the other Swiss pairs don't start looking like this chart i will keep trading them regardless of what the reporters are saying.

It is pretty interesting though if you look at EUR/CHF chart around April 2009 and compare it to where that chart says they started intervening it all lines up pretty well. I think all the intervention is probably going toward eurchf as its a big exporter to Europe.
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  • #12,616
  • Jun 9, 2010 9:27pm Jun 9, 2010 9:27pm
Quick trade call...
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  • #12,617
  • Jun 9, 2010 10:42pm Jun 9, 2010 10:42pm
Quoting TRADExperts
Quick trade call...
Where is the analysis? What use have you made of the tools described and used by the members of this thread to make the trading decision you have posted?

This is nothing more than an advertisement for your website and products. Isn't there a rule on the forum about this type of soliciting?
  • #12,618
  • Jun 9, 2010 11:23pm Jun 9, 2010 11:23pm
Firstly sorry I have been gone so long. Wasn't so well, better now.

This is what Strat calls a buy signal ... last weeks cover
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  • #12,619
  • Jun 9, 2010 11:27pm Jun 9, 2010 11:27pm
Monthly chart - big level

Daily chart, triple bottom ... one to watch. I am looking for a rally to 0.8730 and then price action to short again
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  • #12,620
  • Jun 10, 2010 1:48am Jun 10, 2010 1:48am
Hi, started trading 3 months ago, demoing profitably and hopefully live next month.

looking at the gbp/usd. Overall DT on weekly ( bearish pin bar on weekly). Weekly yet to close above support.

On the daily, looks like a head and shoulders forming? Thinking of sell stop for 1.4540 or 1.4490 (I think 1.45 is key)

(Wider horizontal blue rectangels are fib confluences form narrower blue rectangles - from daily)

What you think?
Thanks

EliteJets - i assume its you on t2w?
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