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Backing Trades Thru Charts

  • #2,161
  • Jul 27, 2010 5:28am Jul 27, 2010 5:28am
AUD/USD

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  • #2,162
  • Jul 27, 2010 5:31am Jul 27, 2010 5:31am
Quoting trj6911
eur/aud low risk trade imo
Use Caution. It just broke a major triangle

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  • #2,163
  • Jul 27, 2010 5:37am Jul 27, 2010 5:37am
EUR/CHF

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  • #2,164
  • Jul 27, 2010 5:37am Jul 27, 2010 5:37am
cheers TLC .......
  • #2,165
  • Jul 27, 2010 5:55am Jul 27, 2010 5:55am
I trade naked off horizontal SR lines and have been trying to add TLs but everytime i see one of TLC's charts there are TLs that I have completely missed.

TLC - it is probably all intuition for you but do you follow a methodology for doing your charts?

cheers
  • #2,166
  • Jul 27, 2010 5:59am Jul 27, 2010 5:59am
NZD/JPY Clean Break

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  • #2,167
  • Jul 27, 2010 6:02am Jul 27, 2010 6:02am
Quoting jokoko
I trade naked off horizontal SR lines and have been trying to add TLs but everytime i see one of TLC's charts there are TLs that I have completely missed.

TLC - it is probably all intuition for you but do you follow a methodology for doing your charts?

cheers
Just stare at your chart for a while, they will stat poping Up.
See you guys in a bit.
  • #2,168
  • Jul 27, 2010 6:09am Jul 27, 2010 6:09am
Quoting TheLastCoke
AUD/USD

Attachment
Agree with this one. I drew my fib from 9404 though, so my 78.6 spot lies around 9115.

Welcome back, seems you have been busy for a while.
  • #2,169
  • Jul 27, 2010 7:09am Jul 27, 2010 7:09am
Hi TLC
Help
Sorry to be a pain, but I opened 2 long positions at 1.62855 & 1.62843
and hedged 1 position short at 1.62417, My first trade achieved tp 1 at
1.64355 tp 2 is longer term 1.68680 so I then opened short at 1.64346, now I am completely stuffed up, I would appreciate you thoughts on what I should do.
It is my first hedge, I need to go back to baby pips, it sure seemed simple there.
Sorry my charts starting to look a real mess
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp chf 4 daily.gif Size: 7 KB
Click to Enlarge Name: gbp chf 2 daily.gif Size: 54 KB
If you are new to Forex? Say Goodbye to your account!!
  • #2,170
  • Jul 27, 2010 7:52am Jul 27, 2010 7:52am
Quoting KiwiTrada
Hi TLC
Help
Sorry to be a pain, but I opened 2 long positions at 1.62855 & 1.62843
and hedged 1 position short at 1.62417, My first trade achieved tp 1 at
1.64355 tp 2 is longer term 1.68680 so I then opened short at 1.64346, now I am completely stuffed up, I would appreciate you thoughts on what I should do.
It is my first hedge, I need to go back to baby pips, it sure seemed simple there.
Sorry my charts starting to look a real mess
Looks like a clean UTL break. You are still UP. I will cut the short and let the other one run.(You can wait for the next h1 candle to close)
  • #2,171
  • Jul 27, 2010 7:58am Jul 27, 2010 7:58am
Quoting TheLastCoke
Looks like a clean UTL break. You are still UP. I will cut the short and let the other one run.(You can wait for the next h1 candle to close)
Thankyou TLC

Kiwi
If you are new to Forex? Say Goodbye to your account!!
  • #2,172
  • Jul 27, 2010 8:07am Jul 27, 2010 8:07am
Hello TLC and all,

I appreciate what you are doing. I am really learning a lot from you.
Some others are great contributors as well.

I have a small question. It might be silly, but for me its the most difficult.
When price approaches a trend line, how do you decide whether you will get in at the touch and benefit from a reversal or get in at the break and hope for it to keep going.

An example is the USDCAD chart that TLC posted. Price came close to the TL, I bought at 1.0266, it broke the TL and went down, when it came back up, I thought this is the test before it continues to go down. I closed the deal at BE just to watch the price go the 1.0290.

So how to decide?
  • #2,173
  • Jul 27, 2010 8:18am Jul 27, 2010 8:18am
GBP/JPY Make up you mind please.

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  • #2,174
  • Jul 27, 2010 8:26am Jul 27, 2010 8:26am
Quoting Ghadeer
Hello TLC and all,

I appreciate what you are doing. I am really learning a lot from you.
Some others are great contributors as well.

I have a small question. It might be silly, but for me its the most difficult.
When price approaches a trend line, how do you decide whether you will get in at the touch and benefit from a reversal or get in at the break and hope for it to keep going.

An example is the USDCAD chart that TLC posted. Price came close to the TL, I bought at 1.0266, it broke the TL and went down, when it came back up, I thought this...
Look at this chart. It is a 4H chart and it passed the LTL by 6 pips. Form my point of view it was a perfect bounce. #2153. Every case is different but I assume it will bounce because TL's are there for that reason. I take a very small risk at bounces and if it breaks I took the loss and wait for the restest to join.

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  • #2,175
  • Jul 27, 2010 8:39am Jul 27, 2010 8:39am
Thanks for the explanation. And yes, it was a perfect bounce that I ruined. Look at it now

Thanks again...
  • #2,176
  • Jul 27, 2010 8:40am Jul 27, 2010 8:40am
Quoting Ghadeer
Thanks for the explanation. And yes, it was a perfect bounce that I ruined. Look at it now

Thanks again...
There are tons of wonderful opp yet to come!!!!
  • #2,177
  • Jul 27, 2010 8:40am Jul 27, 2010 8:40am
USDJPY channel bounce
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  • #2,178
  • Jul 27, 2010 8:43am Jul 27, 2010 8:43am
Quoting TheLastCoke
Look at this chart. It is a 4H chart and it passed the LTL by 6 pips. Form my point of view it was a perfect bounce. #2153. Every case is different but I assume it will bounce because TL's are there for that reason. I take a very small risk at bounces and if it breaks I took the loss and wait for the restest to join.

Attachment
Hi TLC,
what is your target for USDCAD?
  • #2,179
  • Jul 27, 2010 8:57am Jul 27, 2010 8:57am
Would this be a falling wedge forming Guys
Thanks in advance

Kiwi
Attached Image (click to enlarge)
Click to Enlarge Name: aud cad daily.gif Size: 19 KB
If you are new to Forex? Say Goodbye to your account!!
  • #2,180
  • Jul 27, 2010 9:13am Jul 27, 2010 9:13am
Thanks TLC, great charts. Im unlearning lots...
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