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Backing Trades Thru Charts

  • #1,221
  • Jun 21, 2010 1:47pm Jun 21, 2010 1:47pm
Quoting TheLastCoke
Nice rejection + 80

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#3812

#3813

#3815

#3816
  • #1,222
  • Jun 21, 2010 2:13pm Jun 21, 2010 2:13pm
Quoting shahab8b

Nice to have you here, Same view on U/C. Let the pips be with us.
  • #1,223
  • Jun 21, 2010 2:45pm Jun 21, 2010 2:45pm
http://i45.tinypic.com/2rqm1zn.png

http://i50.tinypic.com/2yx1bag.png
  • #1,224
  • Jun 21, 2010 3:18pm Jun 21, 2010 3:18pm
Quoting Low
Keep in mind that we just hit a major TL + 23% Fib. Also note the bouce to the pip with a 190 pip rejection.

Attached Image (click to enlarge)
Click to Enlarge Name: daily tl.gif Size: 16 KB
  • #1,225
  • Jun 21, 2010 3:22pm Jun 21, 2010 3:22pm
Quoting TheLastCoke
Keep in mind that we just hit a major TL + 23% Fib. Also note the bouce to the pip with a 190 pip rejection.
Your 23 fib is also the 50 fib from the last good push down, also at big resistance, and US equities printed a nice bearish pin bar today.

Time to exercise a little caution.

Stops on the pound moved to 1.4630
  • #1,226
  • Jun 21, 2010 8:55pm Jun 21, 2010 8:55pm
S now R

Attached Image (click to enlarge)
Click to Enlarge Name: sr22.gif Size: 19 KB
  • #1,227
  • Jun 22, 2010 12:24am Jun 22, 2010 12:24am
Well this is what I am seeing on this pair right now.
If E/U breaks out of this wedge, then my 1st long target would be the broken trendline.

Let's see what happens today!

Gluck to everyone!
Attached Image (click to enlarge)
Click to Enlarge Name: e%u 60m.gif Size: 24 KB
  • #1,228
  • Jun 22, 2010 6:24am Jun 22, 2010 6:24am
Quoting TheLastCoke
1.2440's Looks like a nice place to short it.

Attachment
out + 190

The Whole Story #261594
  • #1,229
  • Jun 22, 2010 9:17am Jun 22, 2010 9:17am
Quoting perstoman
Well this is what I am seeing on this pair right now.
If E/U breaks out of this wedge, then my 1st long target would be the broken trendline.

Let's see what happens today!

Gluck to everyone!
It has a better shape now.
  • #1,230
  • Jun 22, 2010 10:01am Jun 22, 2010 10:01am
Quoting perstoman
Well this is what I am seeing on this pair right now.
If E/U breaks out of this wedge, then my 1st long target would be the broken trendline.

Let's see what happens today!

Gluck to everyone!
Here is my T1, Small long now at BE, will add on break.

Attached Image (click to enlarge)
Click to Enlarge Name: falling wedge.gif Size: 16 KB
  • #1,231
  • Jun 22, 2010 10:44am Jun 22, 2010 10:44am
Quoting TheLastCoke
Here is my T1, Small long now at BE, will add on break.

Attachment
It is a valid pattern now.
  • #1,232
  • Jun 22, 2010 11:40am Jun 22, 2010 11:40am
Ascending triangle on GBPJPY.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY3.png Size: 106 KB
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,233
  • Jun 22, 2010 11:58am Jun 22, 2010 11:58am
Quoting TheLastCoke
It is a valid pattern now.
Hi Coke,

When do you consider the pattern as failure? Example the descending wedge, do you consider it failed if prices brakes the TL downwards?

I´m start interesting myself for Harmonics, but I believe I should first master some other basic things...but reading about it is worth a shot.

Regards.

Red.
  • #1,234
  • Jun 22, 2010 12:23pm Jun 22, 2010 12:23pm
E/U bullish PA. Bullish Flag, ABCDE Count completed.

Attached Image (click to enlarge)
Click to Enlarge Name: fflag.gif Size: 18 KB
  • #1,235
  • Jun 22, 2010 12:52pm Jun 22, 2010 12:52pm
http://i49.tinypic.com/2jg6wrm.png
  • #1,236
  • Jun 22, 2010 1:03pm Jun 22, 2010 1:03pm
Quoting Rednose
Hi Coke,

When do you consider the pattern as failure? Example the descending wedge, do you consider it failed if prices brakes the TL downwards?

I´m start interesting myself for Harmonics, but I believe I should first master some other basic things...but reading about it is worth a shot.

Regards.

Red.
I make it really simple.

In that particular falling wedge case, it was a bullish pattern that broke the UTL with intensity. If, on the other hand the PA goes sideways breaking up the UTL one could say that the pattern is deformed and therefore invalid or in the event that the LTL breaks the pattern will be invalid too.

Take into consideration fake break outs (shake outs). In this last example of a bull flag volume and time of day can play an important role too, even though it is a bullish PA with the count completed it isn’t valid until the UTL breaks BUT at this time of the day I doubt there is the volume needed to push it higher, what I expect of a pattern completed at this time in such a small TF (NY midday) is to fade up and therefore make invalid due to malformation.
Hope this helps
  • #1,237
  • Jun 22, 2010 1:09pm Jun 22, 2010 1:09pm
Quoting TheLastCoke
I make it really simple.

In that particular falling wedge case, it was a bullish pattern that broke the UTL with intensity. If, on the other hand the PA goes sideways breaking up the UTL one could say that the pattern is deformed and therefore invalid or in the event that the LTL breaks the pattern will be invalid too.

Take into consideration fake break outs (shake outs). In this last example of a bull flag volume and time of day can play an important role too, even though it is a bullish PA with the count completed it isn’t valid until the...
For E/U ,I think like this
Attached Image (click to enlarge)
Click to Enlarge Name: eu7qwq.gif Size: 21 KB
  • #1,238
  • Jun 22, 2010 1:11pm Jun 22, 2010 1:11pm
Quoting shahab8b
For E/U ,I think like this
Looks good but I'm bullish due to the 1H falling wedge that broke recently.
  • #1,239
  • Jun 22, 2010 1:12pm Jun 22, 2010 1:12pm
Quoting TheLastCoke
Looks good but I'm bullish due to the 1H falling wedge that broke recently.

I saw your chart, you have a point. Plus there is hidden bullish div in 4hr chart.
  • #1,240
  • Jun 22, 2010 1:15pm Jun 22, 2010 1:15pm
Quoting TheLastCoke
I make it really simple.

In that particular falling wedge case, it was a bullish pattern that broke the UTL with intensity. If, on the other hand the PA goes sideways breaking up the UTL one could say that the pattern is deformed and therefore invalid or in the event that the LTL breaks the pattern will be invalid too.

Take into consideration fake break outs (shake outs). In this last example of a bull flag volume and time of day can play an important role too, even though it is a bullish PA with the count completed it isn’t valid until the...
Great explanation. Thank you very much.

Can I go back from time to time and ask some questions?
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