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Backing Trades Thru Charts

  • #1,921
  • Jul 19, 2010 8:28pm Jul 19, 2010 8:28pm
Quoting profxtrader
I'm not sure how much I like this one and I'll label it as a maybe and I'll watch it.
The channel is there and I won't normally short a rising channel unless there is something else telling me that it's a good point for reversal. The diamond top does that, but it's an ugly one and I don't think if it is one, that it's complete at this point.

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EUR/USD, It has a better shape now.

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  • #1,922
  • Jul 19, 2010 8:38pm Jul 19, 2010 8:38pm
I dont have chart right now, but take a look at Eur/GBP running into major Support turned weekly resistance. at .85
Dr. C
  • #1,923
  • Edited 10:52pm Jul 19, 2010 9:50pm | Edited 10:52pm
AUD/CAD Support now Resistance + Rising Wedge

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  • #1,924
  • Jul 19, 2010 11:09pm Jul 19, 2010 11:09pm
GC is near the UTL.
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  • #1,925
  • Jul 20, 2010 1:00am Jul 20, 2010 1:00am
Quoting TheLastCoke
EUR/USD, It has a better shape now.

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Stopped out -12
  • #1,926
  • Jul 20, 2010 1:24am Jul 20, 2010 1:24am
Quoting TheLastCoke
Stopped out -12
Nice oppoortunity to short EURJPY at the trendline @ 113.33. Yen already showiong relative strnght to dollar, but euro's strenght compensates it.
  • #1,927
  • Jul 20, 2010 1:40am Jul 20, 2010 1:40am
Quoting maurofx
Nice oppoortunity to short EURJPY at the trendline @ 113.33. Yen already showiong relative strnght to dollar, but euro's strenght compensates it.
You mean this TL?

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  • #1,928
  • Jul 20, 2010 1:41am Jul 20, 2010 1:41am
Quoting maurofx
Nice oppoortunity to short EURJPY at the trendline @ 113.33. Yen already showiong relative strnght to dollar, but euro's strenght compensates it.
I was hoping more strenght on the way down. EURUSD seems to be taking 1.30 as support, so I'm off the trade...+4 lol!!
  • #1,929
  • Jul 20, 2010 1:44am Jul 20, 2010 1:44am
Quoting TheLastCoke
You mean this TL?

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No, i mean this one. I got UY bouncing up from a fibo and EU seems to want to go more to the north. We could brake to the upside in EY if R1 holds @113.11
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  • #1,930
  • Jul 20, 2010 1:49am Jul 20, 2010 1:49am
Hoe wants to sell NZDUSD at this trendline could be possible, question is if price reach the trendline, would use small stoploss.
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  • #1,931
  • Jul 20, 2010 1:59am Jul 20, 2010 1:59am
Potential to the UTL?
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  • #1,932
  • Jul 20, 2010 2:50am Jul 20, 2010 2:50am
Let's see the reaction at retest.

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  • #1,933
  • Jul 20, 2010 2:52am Jul 20, 2010 2:52am
Potential Setup TLC?
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  • #1,934
  • Jul 20, 2010 3:04am Jul 20, 2010 3:04am
Quoting carrot_yuli
Potential Setup TLC?
+ This if you want to short it.

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  • #1,935
  • Jul 20, 2010 4:56am Jul 20, 2010 4:56am
Quoting TheLastCoke
EUR/USD, It has a better shape now.

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Is it just me or lately is this pattern just performing poorly? I've not had more than 10% or so hit their technical targets and maybe only 30% of them profitable.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,936
  • Jul 20, 2010 5:03am Jul 20, 2010 5:03am
Quoting profxtrader
Is it just me or lately is this pattern just performing poorly? I've not had more than 10% or so hit their technical targets and maybe only 30% of them profitable.
Not my favorite either but it was there, whether or not it worked is another story.
  • #1,937
  • Jul 20, 2010 5:09am Jul 20, 2010 5:09am
Quoting MarketTrader
Hoe wants to sell NZDUSD at this trendline could be possible, question is if price reach the trendline, would use small stoploss.
TLC question for you, have you ever think about this problem, when i draw on FXDD account the same trendline as with the other MT4 Broker, then the price hit not on both the trendline, look at this picture and my lat picture for NZDUSD you can see what e mean, have you ever think about this little problem and find a soltuion for you?
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  • #1,938
  • Jul 20, 2010 5:11am Jul 20, 2010 5:11am
Here the other picture again, on the last picture the price hit not the trendline, but on this picture the price hit the trendline, i mean the place where the first red arrow i draw.
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  • #1,939
  • Jul 20, 2010 5:13am Jul 20, 2010 5:13am
Quoting MarketTrader
TLC question for you, have you ever think about this problem, when i draw on FXDD account the same trendline as with the other MT4 Broker, then the price hit not on both the trendline, look at this picture and my lat picture for NZDUSD you can see what e mean, have you ever think about this little problem and find a soltuion for you?
Are you sure you are drawing them in the same way? Draw yor TL's in a smaller TF and then switch it back to 1H and see what happend. Don't forget to use the magnets.
  • #1,940
  • Jul 20, 2010 5:47am Jul 20, 2010 5:47am
Check this out..
Eur/Usd monthly chart.
Price just hit fib level.
All this up movement may end today.

Looking for breakout below line on 2nd chart on Friday?
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