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Backing Trades Thru Charts

  • #1,641
  • Jul 7, 2010 7:29am Jul 7, 2010 7:29am
Sold some more EURCHF at channel bounce.

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Every time you use 'hopium' in a post, God kills a kitten.
  • #1,642
  • Jul 7, 2010 9:23am Jul 7, 2010 9:23am
Quoting TheLastCoke
Not much to add but since TL is broken I wanna see PA at .2560 and .2480.

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It worked.

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  • #1,643
  • Jul 7, 2010 9:24am Jul 7, 2010 9:24am
Quoting TheLastCoke
CHF/JPY One more test to LTL, this time with no HH made. Bulls are getting weaker.

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Bounced to the pip, let's see if HH's are made this time.
  • #1,644
  • Jul 7, 2010 5:20pm Jul 7, 2010 5:20pm
Something I am looking at
http://www.forexfactory.com/showpost...postcount=5740
  • #1,645
  • Jul 7, 2010 5:31pm Jul 7, 2010 5:31pm
Quoting TheLastCoke
Bounced to the pip, let's see if HH's are made this time.
HH made but I got out at yellow trend line for +100. It might reverse at white TL but I'll remain flat. Clean one, no drawdown.

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  • #1,646
  • Jul 7, 2010 5:34pm Jul 7, 2010 5:34pm
Quoting Saxon
Something I am looking at
http://www.forexfactory.com/showpost...postcount=5740
Got the same view and I'm even holding a position right now but sometimes when everything looks so evident the unexpected tends to happend.
  • #1,647
  • Jul 7, 2010 6:06pm Jul 7, 2010 6:06pm
Hi guys! Well, once again the higher TL of the chanell has been respected and we have a double top on 4H chart. Daily shows a perfect doji candlestick just below the 23.6% retracement level of the whole move down from 51xx @ 2646 and a little bit above it we have the resistance line coming from the same high. So, there's a los of confluence for a bear. On the other hand, the bull correction has pretty much strenght, but now it's facing a difficult bump on the way up looking for 38.2% retracement level of the whole move @ 3123.
IMHO what we need in order to see a huge move either way is a fundamental catalyst that gives more strenght to either market sentiment, and today the day is full of those news.
Keep alert, I think today is going to set the way for the upcoming weeks.
Hope it helps, good trading to all!
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  • #1,648
  • Jul 7, 2010 6:28pm Jul 7, 2010 6:28pm
We hasve a simliar situation on GU. Also a day full of fundamentals for GBP that could lead the way to further bull momentum or a bear move sustaining the larger timeframe trend. Now it's in the midle of the upper chanell correction trying to retest 38.2% black fibo level @5237.
Critical day also. I guess we're gonna have a more than intresting UK session today!
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  • #1,649
  • Jul 7, 2010 7:02pm Jul 7, 2010 7:02pm
Quoting TheLastCoke
USD/CHF Looks like the place for longs if 61%Fib doesn't stop the Bears.

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Hope it works in sync with E/U now that it found some support.

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  • #1,650
  • Jul 7, 2010 7:59pm Jul 7, 2010 7:59pm
Swissy is probably going to cut right through any resistance it meets as long as SNB decides to stand at the sideline. It's simply undervalued.
  • #1,651
  • Jul 7, 2010 8:00pm Jul 7, 2010 8:00pm
Quoting TheLastCoke
Hope it works in sync with E/U now that it found some support.

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Been waiting for this one for a while. Hope that it holds
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  • #1,652
  • Jul 7, 2010 8:24pm Jul 7, 2010 8:24pm
I keep looking at that one too Saxon. I just can't do it yet cause of the weekly/ monthly. probably be kicking myself in a few days but i'm being careful till those stress tests are done
  • #1,653
  • Jul 7, 2010 9:16pm Jul 7, 2010 9:16pm
EUR/USD Rising wedge shows all the characteristics, decreasing volume and 5 touches of TL's. Looks like it is ready to break. (I favor the down side on this one)

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  • #1,654
  • Jul 7, 2010 9:26pm Jul 7, 2010 9:26pm
Quoting TheLastCoke
I know you like NZD crosses. Nice bounce on this AUD/NZD daily channel.

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Shame I did not jump in.

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  • #1,655
  • Jul 7, 2010 9:39pm Jul 7, 2010 9:39pm
EUR/JPY I'll be shorting it by the TL touch but this could turn out to be a triple bottom pattern if breaks the UTL.

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  • #1,656
  • Jul 7, 2010 9:41pm Jul 7, 2010 9:41pm
I'm not too good with this stinkin' snagit tool yet so forgive the multiple screen chart shot. I've been watching this dollar franc with the wrong idea I think.(looking for longs). might be a nice shampoo forming here back up into the 50 zone would be a nice spot where I will try a short.

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  • #1,657
  • Jul 8, 2010 1:27am Jul 8, 2010 1:27am
Quoting Hell7
And finally the USD-index futures. So beautifull ...
Price of the USD index futures is testing the red uptrend line, which should give us some renewed dollar strength.
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  • #1,658
  • Jul 8, 2010 8:11am Jul 8, 2010 8:11am
Quoting TheLastCoke
Since we are so close Don't be surprise if Daily TL call for a touch. (shown at above chart)
Daily TL +-20 pips away and AB=CD pattern completed at .2740.

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  • #1,659
  • Jul 8, 2010 10:45am Jul 8, 2010 10:45am
Quoting TheLastCoke
EUR/JPY I'll be shorting it by the TL touch but this could turn out to be a triple bottom pattern if breaks the UTL.

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Let's see how this one will end.

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  • #1,660
  • Jul 8, 2010 4:37pm Jul 8, 2010 4:37pm
Tried to short this last night and got stopped out this morning.

http://i30.tinypic.com/md2ozp.png
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