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Backing Trades Thru Charts

  • #1,321
  • Jun 24, 2010 11:20am Jun 24, 2010 11:20am
Quoting Thierry89
Head and shoulders with a potential target to the hourly trendline or not
eurjpy target reached +50
eurusd out to BE

Quoting TheLastCoke
GBP/JPY At LTL GBP/USD At tigh range EUR/USD at UTL.

It is a matter of time now to get a clear direction.
The market has heard you
  • #1,322
  • Edited 11:41am Jun 24, 2010 11:28am | Edited 11:41am
Quoting Low
Sorry, looks like a bat or gartley, definitely not a b-fly.
Trying to draw something but the only thing I got so far is an AB=CD on 30M to be completed around .2400

Edit. EUR/USD Sorry for the misunderstanding
  • #1,323
  • Jun 24, 2010 11:32am Jun 24, 2010 11:32am
Quoting TheLastCoke
Trying to draw something but the only thing I got so far is an AB=CD on 30M to be completed around .2400
The pic I posted is from an indi. Go figure, you can't find the pattern drawing them manually. Another good reason not to trust indi's.

I usually won't play these unless I can confirm the set-up manually drawing the fibs.
  • #1,324
  • Jun 24, 2010 11:43am Jun 24, 2010 11:43am
Quoting Low
Y'all just had to post about that stupid usdjpy b-fly...didn't you?

I'm short on the break-retest of the triangle, and may leave the stop open since the first target on the b-fly long would be above my entry. So I'll either be taking a loss in a day or two or adding another position.
This is my set up #1294
  • #1,325
  • Jun 24, 2010 11:50am Jun 24, 2010 11:50am
I'm targeting 84, so it'll probably take awhile.
  • #1,326
  • Edited 4:24pm Jun 24, 2010 3:57pm | Edited 4:24pm
The daily chart of the S&P 500 index shows a possible scenario for the coming months.

First, I expect price to break lower to around 1000, where it should bounce at the lower yellow line and the -23.6% retracement level of the recent swing higher.

The interesting part: if price gets there, it will have broken below the neckline of a large Head & Shoulders, which should bring price towards 880 or so.

But for all that to materialize, price must first be able to break below the though support around 1042.
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  • #1,327
  • Jun 24, 2010 4:29pm Jun 24, 2010 4:29pm
Quoting makefx
If usdjpy able to hold today's low...I don't think market still on the correction path.
We shall see, said the blind man
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  • #1,328
  • Jun 24, 2010 5:06pm Jun 24, 2010 5:06pm
EURNZD Falling wedge. Retest complete.

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Every time you use 'hopium' in a post, God kills a kitten.
  • #1,329
  • Jun 24, 2010 8:15pm Jun 24, 2010 8:15pm
Quoting TheLastCoke
We are at the top of this daily channel, I expect a bounce to the H&S neck line which is at the same time the 38% retracement from bottom to ''top''. Tentative target is the H&S height that confluence with 4/20/09 top.

Attachment
I was asked how I target a H&S Pattern and I found this example in my archives.

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  • #1,330
  • Jun 24, 2010 8:16pm Jun 24, 2010 8:16pm
So many reasons to stay short...

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Every time you use 'hopium' in a post, God kills a kitten.
  • #1,331
  • Jun 24, 2010 8:21pm Jun 24, 2010 8:21pm
Quoting profxtrader
And one in the GBPAUD:

Attachment
Add this to the reasons for the short above:


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Every time you use 'hopium' in a post, God kills a kitten.
  • #1,332
  • Jun 24, 2010 8:27pm Jun 24, 2010 8:27pm
Quoting profxtrader
CADCHF Channel breakout

Unfortunately FXCM (or should I say, Boston trade tech) hasn't added any data past daily for this pair so I can't post an hourly or anything to show a retest. My sell limits are in, so chart this one for yourselves on a lower timeframe.

Attachment
Trade hit an important support level so I cut it. Out +290.

Reversed to long for the reaction.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,333
  • Jun 24, 2010 8:45pm Jun 24, 2010 8:45pm
Quoting profxtrader
Add this to the reasons for the short above:

Attachment
+

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  • #1,334
  • Jun 24, 2010 9:45pm Jun 24, 2010 9:45pm
Quoting makefx
Looking to Nzd/Usd @ 0.7090 SL @ 0.7170 T1 @0.7040 T2 @0.699 T3 @ 0.6790

Here is chart to support this trade.
My TL is slightly different + diamond top

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  • #1,335
  • Jun 24, 2010 9:48pm Jun 24, 2010 9:48pm
Quoting makefx
I have some disagreement on your chart. I see it is breakout downtrend line and ichimokou indicates more upside as well. I think it will test 1.7450 area which is 61.8% retracement.
Hey! Someone else uses ToS too!
Sorry, your just the 1st person I've seen that uses ToS and not MT4.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #1,336
  • Jun 24, 2010 10:15pm Jun 24, 2010 10:15pm
Quoting makefx
You probably mean to look like this one.
Here
Attached Image
  • #1,337
  • Jun 24, 2010 10:45pm Jun 24, 2010 10:45pm
EUR/CAD Bearish Spot. TL + 50% Fib + AB=CD Pattern.

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  • #1,338
  • Jun 24, 2010 11:29pm Jun 24, 2010 11:29pm
Quoting TheLastCoke
EUR/CAD Bearish Spot. TL + 50% Fib + AB=CD Pattern.

Attachment
Question on AB=CD pattern,
Do you calculate it by yourself or is there an indicator that calculates for you?
Also, is there any reading materials on this pattern?
I always see you and other traders post this pattern, but I am not yet comfortable with it.

Thanks!
  • #1,339
  • Jun 25, 2010 12:02am Jun 25, 2010 12:02am
Quoting perstoman
Question on AB=CD pattern,
Do you calculate it by yourself or is there an indicator that calculates for you?
Also, is there any reading materials on this pattern?
I always see you and other traders post this pattern, but I am not yet comfortable with it.

Thanks!
It is really simple, just use your FIB EXP tool and connect the A B and C points to get your D. I trade FE 100% and FE 127% mostly.

Read some more: http://www.harmonictrader.com/price_patternsab=cd.htm
  • #1,340
  • Jun 25, 2010 12:05am Jun 25, 2010 12:05am
Quoting makefx
Can you post your on Eur/Jpy? This chart seems to me very messy and I can't do EW on this as well...I would really like to see others to interpret Eur/Jpy chart
Last chart #1256, I'm flat now
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