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Backing Trades Thru Charts

  • #1,081
  • Jun 14, 2010 1:26am Jun 14, 2010 1:26am
Both bottoming patterns are above their confirmation points. Looks like the USD bull run is on hold.

http://cdn.forexfactory.com/attachme...1&d=1276195759

http://cdn.forexfactory.com/attachme...2&d=1276191888

Other notable developments are the EURUSD punching through support turned resistance.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,082
  • Jun 14, 2010 6:41am Jun 14, 2010 6:41am
Quoting TheLastCoke
Triangles & Triangles.
I'll trade the touch or break at retest. Have fun.

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Breakout is happening on G/J.
I am waiting for a retest to go long on this pair.

Is this what you have been waiting too?
  • #1,083
  • Jun 14, 2010 6:46am Jun 14, 2010 6:46am
Back from a nice holiday, and seeing I didn't miss much

USD/CHF Weekly - bounced without touching the line, and thus without me

Attached Image (click to enlarge)
Click to Enlarge Name: 20100614chfW.gif Size: 34 KB


AUD/USD - broke above the orange resistance today without too much troubles, but is struggling with the median line of the large red pitchfork.

Attached Image (click to enlarge)
Click to Enlarge Name: 20100614audD.gif Size: 34 KB


GBP/USD is just chopping around

Attached Image (click to enlarge)
Click to Enlarge Name: 20100614gbpD.gif Size: 35 KB


USD Index weekly shows that price bounced from the median line of this green fork

Attached Image (click to enlarge)
Click to Enlarge Name: 20100614usdW.gif Size: 32 KB
  • #1,084
  • Jun 14, 2010 7:33am Jun 14, 2010 7:33am
Quoting perstoman
Breakout is happening on G/J.
I am waiting for a retest to go long on this pair.

Is this what you have been waiting too?
Waiting for the 4H candle to close, wanna make sure it is not just a shake out.
  • #1,085
  • Jun 14, 2010 8:26am Jun 14, 2010 8:26am
EU looking to go short. 30 minutes untill 4H candle close...ATM it's a doji and just below the trendline. Waiting for further confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4h.jpg Size: 309 KB
  • #1,086
  • Jun 14, 2010 10:08am Jun 14, 2010 10:08am
Hello, i was watching possibles entries for today, and this looks swell, what do you think?

http://img517.imageshack.us/img517/3...rchf100610.png

Greetings!
  • #1,087
  • Jun 14, 2010 10:22am Jun 14, 2010 10:22am
Looks very good, but, hard to me to put a good TP

what do you think?

http://img685.imageshack.us/img685/3...rchf100610.png

Greetings!!
  • #1,088
  • Jun 14, 2010 10:55am Jun 14, 2010 10:55am
This pair is giving me headaches. Here what I've got. I'm waiting to see what she's doing with this upper channel before entering either way.

http://img199.imageshack.us/img199/1061/gbpjpyf.gif


Quoting alej0
Looks very good, but, hard to me to put a good TP

what do you think?

Greetings!!
Hello.
  • #1,089
  • Jun 14, 2010 11:22am Jun 14, 2010 11:22am
Quoting emene
This pair is giving me headaches. Here what I've got. I'm waiting to see what she's doing with this upper channel before entering either way.

http://img199.imageshack.us/img199/1061/gbpjpyf.gif
Quick question... could you post the indicator that shows the pair and price at the bottom right of your chart? I am teaching classes for the next week and I'd like to be able to see my chart from across the room when I'm using the whiteboard
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,090
  • Jun 14, 2010 11:32am Jun 14, 2010 11:32am
Here you go buddy. Enjoy

Quoting profxtrader
Quick question... could you post the indicator that shows the pair and price at the bottom right of your chart? I am teaching classes for the next week and I'd like to be able to see my chart from across the room when I'm using the whiteboard
Attached File(s)
File Type: ex4 #4X 2010 Bid Ask.ex4   15 KB | 347 downloads
Hello.
  • #1,091
  • Jun 14, 2010 3:58pm Jun 14, 2010 3:58pm
It might look like a stupid question, but it has been haunting me for a few days. I love to trade naked chats. However, the goal of the game is to identify chart patterns on different time frames, on as many pairs as possible. And after trying to find patterns for hours and hours, my brain went crazy and I couldn't take it any more, it was quite overwhelming. So I was wondering if there is such a thing as pattern scanners or something that make it a bit easier to identify nice schemes. I am a strong defender of hard work trading, and I spend a lot of time on my charts, I just wanna know if something exists that could ease the process of finding such patterns as triangles, ranges, butterflies and so on...

If not, I will go on and blow my head off ^^
Hello.
  • #1,092
  • Jun 14, 2010 4:28pm Jun 14, 2010 4:28pm
Quoting emene
It might look like a stupid question, but it has been haunting me for a few days. I love to trade naked chats. However, the goal of the game is to identify chart patterns on different time frames, on as many pairs as possible. And after trying to find patterns for hours and hours, my brain went crazy and I couldn't take it any more, it was quite overwhelming. So I was wondering if there is such a thing as pattern scanners or something that make it a bit easier to identify nice schemes. I am a strong defender of hard work trading, and I spend a lot...
Try KorHarmonics at http://www.tradingarsenal.com/

It's not always accurate, but gives a pretty good scan.
  • #1,093
  • Jun 14, 2010 4:28pm Jun 14, 2010 4:28pm
Quoting emene
It might look like a stupid question, but it has been haunting me for a few days. I love to trade naked chats. However, the goal of the game is to identify chart patterns on different time frames, on as many pairs as possible. And after trying to find patterns for hours and hours, my brain went crazy and I couldn't take it any more, it was quite overwhelming. So I was wondering if there is such a thing as pattern scanners or something that make it a bit easier to identify nice schemes. I am a strong defender of hard work trading, and I spend a lot...
ThinkorSwim has a charting tool inside of it's Prophet Charts that can do what you are looking for. ThinkorSwim.com
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,094
  • Jun 14, 2010 4:29pm Jun 14, 2010 4:29pm
Quoting emene
It might look like a stupid question, but it has been haunting me for a few days. I love to trade naked chats. However, the goal of the game is to identify chart patterns on different time frames, on as many pairs as possible. And after trying to find patterns for hours and hours, my brain went crazy and I couldn't take it any more, it was quite overwhelming. So I was wondering if there is such a thing as pattern scanners or something that make it a bit easier to identify nice schemes. I am a strong defender of hard work trading, and I spend a lot...
I have an indi for gartley's and b-fly's, but you can't just trade everything it prints. I use it mostly to eliminate non-opportunities. In regards to other patterns, you might have an easier time looking at daily's and weeklies because they give you a lot of time to identify, draw, trade, and manage than a 1H or 4H.

Besides, spending too many hours in front of my monitor not only makes me cranky, but it makes people who love me irritable too.

To me it's bad risk/reward:

Disregard the people who matter? For 50 pips? Trading bigger TF's allows me to take good trades without sacrificing more important stuff.
  • #1,095
  • Jun 14, 2010 4:39pm Jun 14, 2010 4:39pm
Quoting Oshawa
Try KorHarmonics at http://www.tradingarsenal.com/

It's not always accurate, but gives a pretty good scan.
In addition, these two are also pretty good for butterfly, gartley patterns.

Load the Zup indicator first, which then feeds data into the WRR one that gives a description. You may or may not need the WRR one.
Attached File(s)
File Type: mq4 ZUP_v83.mq4   362 KB | 439 downloads
File Type: mq4 WRR_ZUP_INFO_v02.mq4   28 KB | 430 downloads
  • #1,096
  • Jun 14, 2010 6:51pm Jun 14, 2010 6:51pm
Quoting Oshawa
In addition, these two are also pretty good for butterfly, gartley patterns.

Load the Zup indicator first, which then feeds data into the WRR one that gives a description. You may or may not need the WRR one.
Zup, it is indeed a very good indicator to find harmonics but the most important thing is to understand how they are drawn (See this #55) and enter only at the theory D points because Zup entry point is very wide.

Keep this for reference #586.

If you have to try hard to find patterns such as triangles, wedges, pennants, flags, etc it is probably because they are not there. Do not force them they will pop up in you screen without notice.
  • #1,097
  • Jun 14, 2010 9:02pm Jun 14, 2010 9:02pm
Quoting Hell7
Back from a nice holiday, and seeing I didn't miss much

USD/CHF Weekly - bounced without touching the line, and thus without me

Attachment
Something tells me you don't read my posts . Look at second chart, specially the entry D point of this Bat. #825. + 300. Perfect trade.
  • #1,098
  • Jun 15, 2010 8:48am Jun 15, 2010 8:48am
I have entered a small long position on U/J.
I may have been too early, but looking at the triangle, RRR is Ok.
Also with Dollar Index losing its momentum for now, I feel more comfortable taking long on this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: e%u 60m.gif Size: 19 KB
  • #1,099
  • Jun 15, 2010 10:00am Jun 15, 2010 10:00am
I had the time to make 1 intraday trade today, I can't wait to get back to trading next week . Beautiful setup and my 2nd favorite trade behind channel breaks... a channel bounce.Don't mind the stop level, it's from a longer term trade.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY2.jpg Size: 114 KB
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,100
  • Edited 11:12am Jun 15, 2010 10:52am | Edited 11:12am
Here's one more setup. I'm already short, so I'm not taking it, but it's a good place to add or establish a new short position.

EDIT: I lied. I've added to my short at that level.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD2.png Size: 37 KB
Every time you use 'hopium' in a post, God kills a kitten.
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