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Backing Trades Thru Charts

  • #1,561
  • Jun 30, 2010 10:46pm Jun 30, 2010 10:46pm
I'm with you on u/j tlc. major support area on daily and 4 hr in that zone horizontally too
  • #1,562
  • Jun 30, 2010 11:04pm Jun 30, 2010 11:04pm
Quoting perstoman
Maybe this is one of the AB=CD patterns.
I have just began learning this pattern, so I am not so confident, but this is what I am seeing at the moment.
Found this Picture for you. Notice the 3 possible reversal spots at 100%, 127% and 161%

Attached Image
  • #1,563
  • Jun 30, 2010 11:19pm Jun 30, 2010 11:19pm
If you sold the pattern now is a good place to exit. (I'm not reversing just yet but I expect a nice bounce from here.

Attached Image (click to enlarge)
Click to Enlarge Name: out.gif Size: 14 KB
  • #1,564
  • Jun 30, 2010 11:35pm Jun 30, 2010 11:35pm
I am manually TP'ing the kiwi at .6820 for 231 pips. I had set my initial target the same distance between point 5 and the LTL.

I am not smarter than my plan.

Also exiting the yen at 88.16 for 240 pips as per the revised plan. Will re-enter short if 88 fails.

GBPNZD positions are +783 and +731 pips respectively, and tapping resistance. Will add if an opportunity presents itself.
  • #1,565
  • Jun 30, 2010 11:37pm Jun 30, 2010 11:37pm
TLC,

Could you put up that chart from a few pages back that shows the fib levels that differentiate the bat, gartley, b-fly and whatnot again for me?
  • #1,566
  • Jun 30, 2010 11:38pm Jun 30, 2010 11:38pm
Quoting Low
I am manually TP'ing the kiwi at .6820 for 231 pips. I had set my initial target the same distance between point 5 and the LTL.

I am not smarter than my plan.

Also exiting the yen at 88.16 for 240 pips as per the revised plan. Will re-enter short if 88 fails.

GBPNZD positions are +783 and +731 pips respectively, and tapping resistance. Will add if an opportunity presents itself.
Sometimes I wish I had you patience. Good trades from a good trader. Congrats.
  • #1,567
  • Jun 30, 2010 11:41pm Jun 30, 2010 11:41pm
Quoting Low
TLC,

Could you put up that chart from a few pages back that shows the fib levels that differentiate the bat, gartley, b-fly and whatnot again for me?
You mean this one? #586 . Keep in mind that there are some small variations from one to another but that chart will give you a very good idea.
  • #1,568
  • Jun 30, 2010 11:44pm Jun 30, 2010 11:44pm
U/J is entering a very strong support area.
I think TLC's U/J couple days ago indicated similar level.
Could be a good place to long, targeting the retest of broken trendline
Attached Image (click to enlarge)
Click to Enlarge Name: e%u 60m.gif Size: 21 KB
  • #1,569
  • Jun 30, 2010 11:51pm Jun 30, 2010 11:51pm
Quoting TheLastCoke
You mean this one? #586 . Keep in mind that there are some small variations from one to another but that chart will give you a very good idea.
That was the one. Thank you.
  • #1,570
  • Jul 1, 2010 12:00am Jul 1, 2010 12:00am
Quoting Low
That was the one. Thank you.
NP Buddy anytime.
  • #1,571
  • Jul 1, 2010 12:02am Jul 1, 2010 12:02am
Quoting perstoman
U/J is entering a very strong support area.
I think TLC's U/J couple days ago indicated similar level.
Could be a good place to long, targeting the retest of broken trendline
Already in at what I expect to be a no drawdown trade.
  • #1,572
  • Jul 1, 2010 12:32am Jul 1, 2010 12:32am
Quoting TheLastCoke
Sometimes I wish I had you patience. Good trades from a good trader. Congrats.
I'm such a gunslinger I wish I could trade 4H and 1H charts, but I would bankrupt myself. Daily's and weekly's keep me in check.

I hope that after enough years of this I could comfortably trade the smaller TF's, but until then......
  • #1,573
  • Jul 1, 2010 4:20am Jul 1, 2010 4:20am
I'm still quite bullish on the USD and I see two general scenarios here, with an upper break more likely in my view.

Attached Image (click to enlarge)
Click to Enlarge Name: 7-1-2010 DX1.png Size: 23 KB
  • #1,574
  • Jul 1, 2010 10:08am Jul 1, 2010 10:08am
DX is at least going to fall to the bottom of the rising channel. Successful euro bond-auctions and healthy european banks takes toll
Attached Image (click to enlarge)
Click to Enlarge Name: DX daily.jpg Size: 127 KB
  • #1,575
  • Jul 1, 2010 12:36pm Jul 1, 2010 12:36pm
Had a few drinks last night, and did not set limit orders on the euro (trading+drinking=bad)...bummer.

http://i50.tinypic.com/2djynae.png
  • #1,576
  • Jul 1, 2010 1:43pm Jul 1, 2010 1:43pm
Another one of the DX, 4 hourly. Notice the high volume with 2+ hours left of the session.
Attached Image (click to enlarge)
Click to Enlarge Name: DX 4H.jpg Size: 125 KB
  • #1,577
  • Jul 1, 2010 6:46pm Jul 1, 2010 6:46pm
Quoting TheLastCoke
If you sold the pattern now is a good place to exit. (I'm not reversing just yet but I expect a nice bounce from here.

Attachment
As expected.

Attached Image (click to enlarge)
Click to Enlarge Name: rejection.gif Size: 14 KB
  • #1,578
  • Jul 1, 2010 6:53pm Jul 1, 2010 6:53pm
Quoting TheLastCoke
USD/JPY Sticking to my plan.

Attachment
Stopped out -80
  • #1,579
  • Jul 1, 2010 7:37pm Jul 1, 2010 7:37pm
Having a bad week, but it's not gonna stop me from posting charts here lol;;
A/U is rebounding strongly as dollar is showing some weakness.
My plan would be shoring it when it reaches suggested 0.853ish area.
Targeting first and second red lines.
Attached Image (click to enlarge)
Click to Enlarge Name: e%u 60m.gif Size: 17 KB
  • #1,580
  • Jul 1, 2010 8:09pm Jul 1, 2010 8:09pm
Two scenarios possible.
1. Trendline broken=>Could see a move down to 1.047ish level.

2. Get a bounce from 1.057ish level and move up higher.

*Since the trendline is broken, I prefer first moving lower.
Attached Image (click to enlarge)
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