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Backing Trades Thru Charts

  • #1,661
  • Jul 8, 2010 3:21pm Jul 8, 2010 3:21pm
Quoting Low
Tried to short this last night and got stopped out this morning.
Just don't discard the pattern, it is still a valid one.
  • #1,662
  • Jul 8, 2010 3:23pm Jul 8, 2010 3:23pm
Quoting TheLastCoke
Just don't discard the pattern, it is still a valid one.
hi thelastcoke,

typically you would short at the top of the pattern or wait for the breakout??
"There's a big difference between looking successful and being successful"
  • #1,663
  • Jul 8, 2010 3:24pm Jul 8, 2010 3:24pm
Quoting TheLastCoke
Just don't discard the pattern, it is still a valid one.
With my luck it'll happen shortly after London opens, when I'm asleep.

I may set limit orders.
  • #1,664
  • Jul 8, 2010 3:26pm Jul 8, 2010 3:26pm
Quoting TheLastCoke
Shame I did not jump in.

Attachment

Yeah, you drew the channel and I did. It was too pretty not to even though me and that pair do not get along too well.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,665
  • Jul 8, 2010 5:46pm Jul 8, 2010 5:46pm
Its time to share in this great thread.

Something to watch for early next week. Fair bit of confluence at the circle. If it breaks out of these wedges then watch for a pivot happening in line with the point of confluence.

http://www.flickr.com/photos/51875991@N04/?saved=1
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  • #1,666
  • Jul 8, 2010 6:07pm Jul 8, 2010 6:07pm
Quoting oldmaster
hi thelastcoke,

typically you would short at the top of the pattern or wait for the breakout??
Depends on the TF, On daily and UP I like to enter on the way out of the retest, on smaller TF's I even enter at top, in this particular case where there are a lot of confluence (channel, TL, Fib) I entered at UTL. Every case is different but the safer more conservative way is definitely at breakout.
  • #1,667
  • Jul 8, 2010 6:11pm Jul 8, 2010 6:11pm
Quoting jokoko
Its time to share in this great thread.

Something to watch for early next week. Fair bit of confluence at the circle. If it breaks out of these wedges then watch for a pivot happening in line with the point of confluence.
Already shorted it at UTL, I'm looking for 23% retracement only.
  • #1,668
  • Jul 8, 2010 9:27pm Jul 8, 2010 9:27pm
Quoting TheLastCoke
Depends on the TF, On daily and UP I like to enter on the way out of the retest, on smaller TF's I even enter at top, in this particular case where there are a lot of confluence (channel, TL, Fib) I entered at UTL. Every case is different but the safer more conservative way is definitely at breakout.
thanks for the insight, I'll keep a note of that
"There's a big difference between looking successful and being successful"
  • #1,669
  • Jul 9, 2010 4:55am Jul 9, 2010 4:55am
TLC

Testing UTL of Chan Possible Bottom and/or Good Bounce Good RR

Worth watching TLC ???

My 1st chart so I hope it comes through ok

Kiwi
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If you are new to Forex? Say Goodbye to your account!!
  • #1,670
  • Jul 9, 2010 6:15am Jul 9, 2010 6:15am
Quoting KiwiTrada
TLC

Testing UTL of Chan Possible Bottom and/or Good Bounce Good RR

Worth watching TLC ???

My 1st chart so I hope it comes through ok

Kiwi
Has a better shape now #1649
  • #1,671
  • Jul 9, 2010 12:32pm Jul 9, 2010 12:32pm
Goldman just announced to their clients that they're bearish USD, time to buy Also, Credit Suisse clients are heavily bearish USD. Always a great contrarian indicator when banks tip their hand as clients always get fleeced. Chart is of $index futures.

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Source: http://www.zerohedge.com/article/gol...ort-euro-again
http://www.zerohedge.com/article/cre...st-bearish-usd
  • #1,672
  • Jul 10, 2010 10:21am Jul 10, 2010 10:21am
http://i25.tinypic.com/xof7na.png
  • #1,673
  • Jul 10, 2010 6:21pm Jul 10, 2010 6:21pm
Just a few trade ideas + a few continuations of trades posted earlier. I'll be better about posting next week when my move across the Atlantic is complete. Until then, just the longer term ideas, because that's what I'm trading.

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Every time you use 'hopium' in a post, God kills a kitten.
  • #1,674
  • Jul 10, 2010 9:09pm Jul 10, 2010 9:09pm
Quoting profxtrader
Just a few trade ideas + a few continuations of trades posted earlier. I'll be better about posting next week when my move across the Atlantic is complete. Until then, just the longer term ideas, because that's what I'm trading.
You might like this one.....Break, retest, longer term TL

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  • #1,675
  • Jul 11, 2010 2:58pm Jul 11, 2010 2:58pm
EUR/USD Will add if LTL is broken

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  • #1,676
  • Edited 3:53pm Jul 11, 2010 3:36pm | Edited 3:53pm
Quoting TheLastCoke
GBP/USD Nice place to take Profits and reverse.

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Hit the spot to the pip

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  • #1,677
  • Jul 11, 2010 3:50pm Jul 11, 2010 3:50pm
Quoting TheLastCoke
AUD/CAD Approaching major Fibos.

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AUD/CAD tested LTL again, possible reverse at this point.

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  • #1,678
  • Jul 11, 2010 4:06pm Jul 11, 2010 4:06pm
Quoting profxtrader
To my eye this looks like a perfect bullish butterfly. A-B 78.6 of X-A. X-D is 127.2 of X-A. A-D is 161.8 of A-B (which coincides with the 127.2 of X-A). I'm taking it!

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Still holding? I was shaken out, couldn't stand the 60 pips drawdown. I would have taken profits at this level.

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  • #1,679
  • Jul 11, 2010 4:53pm Jul 11, 2010 4:53pm
Quoting TheLastCoke
Still holding? I was shaken out, couldn't stand the 60 pips drawdown. I would have taken profits at this level.

Attachment
Just got out @ the open today. I don't like the technical resistance coming up. I'm looking for a reversal. The euro has got to crash sometime soon... speaking from a strictly fundamental perspective.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,680
  • Jul 11, 2010 5:22pm Jul 11, 2010 5:22pm
Quoting profxtrader
Just got out @ the open today. I don't like the technical resistance coming up. I'm looking for a reversal. The euro has got to crash sometime soon... speaking from a strictly fundamental perspective.
UTL Might do it.

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