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Backing Trades Thru Charts

  • #1,941
  • Jul 20, 2010 5:48am Jul 20, 2010 5:48am
EUR/USD Channel LTL might hold it.

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  • #1,942
  • Jul 20, 2010 10:12am Jul 20, 2010 10:12am
Quoting TheLastCoke
You mean this TL?

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Nice resistance there.

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  • #1,943
  • Jul 20, 2010 11:12am Jul 20, 2010 11:12am
Quoting TheLastCoke
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.
I draw them right the trendlines, but this happen sometimes i did see it sometimes with different brokers the trendlines and price hit not the same trendline wich by other broker it did. You can make test if you want see. And both chart are from live account. I have think sometimes to search the best forex market data, but if uch think ever is availble. but ok, maybe it is not the bigest problem, current i am just thinking about wich trendline technik i must concentrate on, there are alo o much different. By the way, what you mean with magnets, I never here that?
  • #1,944
  • Jul 20, 2010 11:14am Jul 20, 2010 11:14am
Quoting MarketTrader
I draw them right the trendlines, but this happen sometimes i did see it sometimes with different brokers the trendlines and price hit not the same trendline wich by other broker it did. You can make test if you want see. And both chart are from live account. I have think sometimes to search the best forex market data, but if uch think ever is availble. but ok, maybe it is not the bigest problem, current i am just thinking about wich trendline technik i must concentrate on, there are alo o much different. By the way, what you mean with magnets,...
The 3 little dots on your TL when you double click on them. Put the magnets on top of the candles.
  • #1,945
  • Edited 11:37am Jul 20, 2010 11:24am | Edited 11:37am
Quoting longshot_nl
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?
In addition these chart... maybe you like it.
The white line in the 2nd chart is my estimation about what will happen on daily chart.
Of course i am also often wrong so any feedback on my analysis is welcome.
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  • #1,946
  • Jul 20, 2010 12:24pm Jul 20, 2010 12:24pm
I know TLC already shared this with you, but I wanted to from my chart as well.

1) It is at 50% retracement of daily down move
2) It is hitting strong weekly support turned resistance
3) It is hitting the upper line of an ascending wedge
4) It is hitting an upper trend line of a large daily

SWEET!
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Dr. C
  • #1,947
  • Jul 20, 2010 12:49pm Jul 20, 2010 12:49pm
cup with handle!
we are going north?!
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  • #1,948
  • Edited 3:04pm Jul 20, 2010 2:53pm | Edited 3:04pm
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Quoting bphone
cup with handle!


we are going north?!

Gold is making a retrace and dragging this with it. 1210 I'll short the hell out of it.
Not sure where this will go but have an nice pattern here. 8950ish...cup in handle I doubt.

This trendline for gold has been going on too long and the price action ive been monitering for the past ew weeks is very bearish there is negative divergence on the DAILY now for the first time in years and everyone and there brother is long.
1000 ish beore the next push up to flush out everyone.
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rat
  • #1,949
  • Jul 20, 2010 2:55pm Jul 20, 2010 2:55pm
To be or not te be...
Maybe not enough volume at this time for down move.
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  • #1,950
  • Jul 20, 2010 4:02pm Jul 20, 2010 4:02pm
Quoting profxtrader
EURCAD inverted H&S

I can't believe I missed this. This is one of the best performing patterns. Hopefully we'll retest the neckline and that's where I'd get long. It's about a 1000 pip target.

EDIT: Or it could be a rounding bottom. Just draw a curved line from the beginning of the left shoulder, around the head to the end of the right shoulder. Actually that's most likely what it is. Luckily the measurements are the same. Still 1000 pips.

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Now Long
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,951
  • Jul 20, 2010 4:03pm Jul 20, 2010 4:03pm
Quoting profxtrader
CADJPY proposed long.

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T1 Met.
Every time you use 'hopium' in a post, God kills a kitten.
  • #1,952
  • Jul 20, 2010 5:27pm Jul 20, 2010 5:27pm
Quoting profxtrader
Now Long
Keep this in mind #1934. 200+ rejection so far, this can bring enough sellers to see fresh lows.

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  • #1,953
  • Jul 20, 2010 5:33pm Jul 20, 2010 5:33pm
Quoting cvcamper
I know TLC already shared this with you, but I wanted to from my chart as well.

1) It is at 50% retracement of daily down move
2) It is hitting strong weekly support turned resistance
3) It is hitting the upper line of an ascending wedge
4) It is hitting an upper trend line of a large daily

SWEET!
Working to the pip so far #1923. (There was a TL retest but no damge done)

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  • #1,954
  • Jul 20, 2010 5:40pm Jul 20, 2010 5:40pm
EUR/AUD Since no LL was made I did not short it at TL. It was a perfect bounce. Since the price is contracting I expect an explosion worth to ride.
360 pips gone

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  • #1,955
  • Jul 20, 2010 6:17pm Jul 20, 2010 6:17pm
Quoting TheLastCoke
Working to the pip so far #1923. (There was a TL retest but no damge done)

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I was looking at this but from the smaller inside wedge. This smaller wedge has had a breakout and retest. With the retest happening on a horizontal resistance turned support line as well.

So TLC is short and I am long ... crap.

What do you think TLC?
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  • #1,956
  • Jul 20, 2010 6:58pm Jul 20, 2010 6:58pm
Quoting TheLastCoke
Working to the pip so far #1923. (There was a TL retest but no damge done)

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I pretty much had the exact same chart .....i havent entered yet, im looking for the triple top @ 9255, stops above 9283, open target. hopefully my order gets hit.
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  • #1,957
  • Jul 20, 2010 7:18pm Jul 20, 2010 7:18pm
Wicked short situation. Haven't hit it yet, I just hate my pip spread on this. And it reminds me of a shorter time frame of what I went through on Gold, before it crashed for me. That was a long and drawn out affair.

Five lots and it will make me watch being down for 400USD right off the hump. Psychologically, could they make it any more visual discouraging?

But a heckuva wedge for a short. Gotta take it.
  • #1,958
  • Jul 20, 2010 7:24pm Jul 20, 2010 7:24pm
Quoting steroidman
Wicked short situation. Haven't hit it yet, I just hate my pip spread on this. And it reminds me of a shorter time frame of what I went through on Gold, before it crashed for me. That was a long and drawn out affair.

Five lots and it will make me watch being down for 400USD right off the hump. Psychologically, could they make it any more visual discouraging?

But a heckuva wedge for a short. Gotta take it.
Im just hoping that my order gets hit......the RR on this trade is tremendous......add short on break of wedge and retrace to bottom tl!
  • #1,959
  • Jul 20, 2010 8:37pm Jul 20, 2010 8:37pm
Quoting jokoko
I was looking at this but from the smaller inside wedge. This smaller wedge has had a breakout and retest. With the retest happening on a horizontal resistance turned support line as well.

What do you think TLC?
I have a Resistance zone for about 40 pips wide (as posted). The older the TL the stronger it becomes. We have a break of the inside UTL but on the other hand a bounce from a much older TL but ''Anything can and will happend''

Cheers
  • #1,960
  • Jul 20, 2010 8:41pm Jul 20, 2010 8:41pm
Quoting mfoste1
I pretty much had the exact same chart .....i havent entered yet, im looking for the triple top @ 9255, stops above 9283, open target. hopefully my order gets hit.
I usually use this strategy, and it has served well. Very well. Frustrating when you miss them, but oh so gratifying seeing the waiting on the telephone wire like a buzzard, pay off.

Carrion, er carry on.
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