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Backing Trades Thru Charts

  • #1,961
  • Jul 20, 2010 9:11pm Jul 20, 2010 9:11pm
Thought the wedge was invalidated? Shouldn't we just focus on the Daily UTL and wedge LTL now?
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  • #1,962
  • Jul 20, 2010 9:31pm Jul 20, 2010 9:31pm
EUR/USD Since it broke the adscending TL, the LTL seems like the next stop. Backing up my view there is a pennant with a pole that exceeds the target. (I'm not in yet, waiting for a bit of a shakeout first)

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  • #1,963
  • Jul 20, 2010 9:35pm Jul 20, 2010 9:35pm
Quoting Saxon
Thought the wedge was invalidated? Shouldn't we just focus on the Daily UTL and wedge LTL now?
I'm playing the bounce of the UTL from a previous HH #1923
  • #1,964
  • Jul 20, 2010 11:56pm Jul 20, 2010 11:56pm
Quoting TheLastCoke
Working to the pip so far #1923. (There was a TL retest but no damge done)

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I'm expecting a bounce at this point.

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  • #1,965
  • Jul 21, 2010 12:10am Jul 21, 2010 12:10am
Can I say once again, how much I LOVE this thread =)
Dr. C
  • #1,966
  • Jul 21, 2010 12:57am Jul 21, 2010 12:57am
Hi, Im expecting a bounce @ LTL..
i'm closing my short last night @my red down TL
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  • #1,967
  • Jul 21, 2010 2:54am Jul 21, 2010 2:54am
What about this TLC? price is now in the up channel
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  • #1,968
  • Jul 21, 2010 5:20am Jul 21, 2010 5:20am
Quoting TheLastCoke
EUR/USD Since it broke the adscending TL, the LTL seems like the next stop. Backing up my view there is a pennant with a pole that exceeds the target. (I'm not in yet, waiting for a bit of a shakeout first)

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Out +80. Nice & Easy

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  • #1,969
  • Jul 21, 2010 5:34am Jul 21, 2010 5:34am
Quoting TheLastCoke
Keep this in mind #1934. 200+ rejection so far, this can bring enough sellers to see fresh lows.

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Old Fib doing its Job.

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  • #1,970
  • Jul 21, 2010 5:45am Jul 21, 2010 5:45am
Quoting carrot_yuli
What about this TLC? price is now in the up channel
It did not bounce properly the previous attempt, instead it made a HH. I would wait for a break this time.

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  • #1,971
  • Jul 21, 2010 5:47am Jul 21, 2010 5:47am
Quoting carrot_yuli
Hi, Im expecting a bounce @ LTL..
i'm closing my short last night @my red down TL
Nicely Done
  • #1,972
  • Jul 21, 2010 5:55am Jul 21, 2010 5:55am
Quoting TheLastCoke
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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Watch it closely. Lots of pips either way.

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  • #1,973
  • Jul 21, 2010 6:04am Jul 21, 2010 6:04am
EUR/USD Bears Test Time

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  • #1,974
  • Jul 21, 2010 6:13am Jul 21, 2010 6:13am
Quoting TheLastCoke
I'm expecting a bounce at this point.

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T1 #1923 has a better look now after this bounce>break>retest.

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  • #1,975
  • Jul 21, 2010 6:18am Jul 21, 2010 6:18am
Quoting TheLastCoke
Watch it closely. Lots of pips either way.

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TLC do you have specific rule for drawing TL? is the most recent price has the most important point for drawing them?
Do you also take this EUR USD trade at LTL or you would wait for confirmation?
thanks for the input..
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  • #1,976
  • Jul 21, 2010 6:22am Jul 21, 2010 6:22am
Quoting carrot_yuli
TLC do you have specific rule for drawing TL? is the most recent price has the most important point for drawing them?
Do you also take this EUR USD trade at LTL or you would wait for confirmation?
thanks for the input..
I use the lowest most recent point reached to draw TL's.....It won't hurt to take the risk at this adscending channel LTL .
  • #1,977
  • Jul 21, 2010 6:37am Jul 21, 2010 6:37am
LC, you are very helpful. a picture is worth many words. Any feelings on US/CAD? Thanks for AUS/CAD, doing well. Never would have seen it otherwise.
  • #1,978
  • Jul 21, 2010 7:12am Jul 21, 2010 7:12am
Quoting steroidman
LC, you are very helpful. a picture is worth many words. Any feelings on US/CAD? Thanks for AUS/CAD, doing well. Never would have seen it otherwise.
Nothing really solid, too late to enter short aiming triangle LTL. I'll be watching for a break targeting the green LTL.

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  • #1,979
  • Jul 21, 2010 8:21am Jul 21, 2010 8:21am
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  • #1,980
  • Jul 21, 2010 8:36am Jul 21, 2010 8:36am
This here (at arrow) may be a great buying spot if it gets there.
2 trendlines and 50% fib level.
Target at least 100 pips.
sorry for messy chart, thats what my charts normally look like before i make a cleaned up version for posting.
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