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Backing Trades Thru Charts

  • #1,881
  • Jul 17, 2010 3:33pm Jul 17, 2010 3:33pm
Quoting profxtrader
I've gotta say I'm pleased with today. That said, again this is not bragging. This is just to show people again that the way that TLC trades is really all you need to make a buck... or 72 thousand of them in this market. I used to have my charts so cluttered with indicators that I could barely make out price action which is all I should have been looking at anyways. It was TLC's thread that got me back to trading price action only. I am like a militant vegan when it comes to indicators. Indicators are murder!

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hi there

i totallly agree with u... this week all indicator showed different direction..ie. -ve divg but price keep moving up up in eu gu...

still dont know how u manage 22 pairs... for me even 2/3 pair r handful to handle... i need to revaluate my trading meth. TLC sounds good.. way to start.. as the wishman say.' if the system dont work.. start from beginning - basic then build on that...


Hats off to u... 70000+
  • #1,882
  • Jul 17, 2010 4:00pm Jul 17, 2010 4:00pm
Is this a valid channel for EG. Get long on a pullback to the lower TL
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rat
  • #1,883
  • Edited 5:58am Jul 18, 2010 2:50am | Edited 5:58am
Hi TLC

I would appreciate you thoughts on EUR/CHF pair

I am looking to long once the Blue LTL confirms as support
The 3 targets identified are short term, my long term targets are TP4 1.5379 TP5 1.6343

Cheers Kiwi
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If you are new to Forex? Say Goodbye to your account!!
  • #1,884
  • Jul 18, 2010 3:37am Jul 18, 2010 3:37am
I did not take this trade, because it happened so late into friday trading session.
But it's definitely something to notice.
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  • #1,885
  • Jul 18, 2010 4:22am Jul 18, 2010 4:22am
Quoting profxtrader
GBPCAD is at resistance. With 3 good institutional moves in the background (red, blue and green arrows) there isn't much support on the downside for a while and no resistance for an even longer way to the upside.

Trade 1. Sell resistance with stop just above resistance zone.

Trade 2. If trade 1 doesn't work out buy a break and retest of the resistance zone.
Hi Profxtrader,
can I know how did you enter your trade? is it based on PA? or how did you say that price already confirm for you to buy or sell? and where is your stop loss?
thanks you for your chart... its really clear and gives valuable information..
  • #1,886
  • Jul 18, 2010 5:23am Jul 18, 2010 5:23am
channel breakout failure
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  • #1,887
  • Jul 18, 2010 10:47am Jul 18, 2010 10:47am
Quoting profxtrader
I
... Get Thomas Bulkowski's "The Encyclopedia of Chart Patterns" if you don't already have it. It'll improve your accuracy...
This book is awesome. Thanks for TIP!
  • #1,888
  • Edited 2:22pm Jul 18, 2010 2:10pm | Edited 2:22pm
Quoting carrot_yuli
Hi Profxtrader,
can I know how did you enter your trade? is it based on PA? or how did you say that price already confirm for you to buy or sell? and where is your stop loss?
thanks you for your chart... its really clear and gives valuable information..
I haven't entered any trades just yet. I only posted ideas for the open and tomorrow. I will sell at or near the resistance if the market open warrants. I will update charts and such after I've entered actual trades.My stop will be above or below the zone marked in blue, depending on where it opens and what trade I take. Most likely short and the stop above the resistance zone.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,889
  • Jul 18, 2010 3:37pm Jul 18, 2010 3:37pm
Quoting rattyo
Is this a valid channel for EG. Get long on a pullback to the lower TL
Looks valid to me. I am pretty sure you'll get a move down to the LTL soon.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,890
  • Jul 18, 2010 3:52pm Jul 18, 2010 3:52pm
E-book was sent to those who asked.
  • #1,891
  • Jul 19, 2010 12:57am Jul 19, 2010 12:57am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
hello.. how you doing..

Can you send me that Ebook as well please...

thanks in advance
  • #1,892
  • Jul 19, 2010 1:20am Jul 19, 2010 1:20am
EUR/USD Here is a nice working TL that turned into a channel.

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  • #1,893
  • Jul 19, 2010 1:35am Jul 19, 2010 1:35am
hey look at the eur usd trendlines. actually i m new to these trendline trading, so can u people help me out and predict it direction?
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  • #1,894
  • Jul 19, 2010 1:39am Jul 19, 2010 1:39am
Expecting a nice bounce from here....possible UTL retest.

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  • #1,895
  • Jul 19, 2010 2:05am Jul 19, 2010 2:05am
Thanks to Low. So much for the book.

Thanks to LastCoke. I just woke up out of a dead sleep and made a beautiful scalp. Thanks man.
  • #1,896
  • Jul 19, 2010 2:10am Jul 19, 2010 2:10am
Quoting steroidman
Thanks to Low. So much for the book.

Thanks to LastCoke. I just woke up out of a dead sleep and made a beautiful scalp. Thanks man.
Why did you close it?
  • #1,897
  • Jul 19, 2010 2:11am Jul 19, 2010 2:11am
Quoting TheLastCoke
Expecting a nice bounce from here....possible UTL retest.

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Great call!!
  • #1,898
  • Jul 19, 2010 2:28am Jul 19, 2010 2:28am
Quoting TheLastCoke
Expecting a nice bounce from here....possible UTL retest.

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Don't have my Pc's ready to work yet therefore I'm out but I see more potential. Nice & Easy.

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  • #1,899
  • Jul 19, 2010 2:43am Jul 19, 2010 2:43am
I closed it because I like taking quick profits. About 30 a day. What do you see on this sir?
  • #1,900
  • Jul 19, 2010 2:57am Jul 19, 2010 2:57am
Wow TLC ,
u are really good in spotting the right trade, just wanted to know where i can learn about trendline lines and channels, this is extremely powerful stuff.
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