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Backing Trades Thru Charts

  • #2,261
  • Aug 1, 2010 9:59pm Aug 1, 2010 9:59pm
Quoting forex_growth
yep got you - so you thinking more the 61 than the 50 fib then due to pivot being lower? I had roughly 50 fib but reckon being more cautious...

and trigger in terms closing or waiting for rebound or break through?

thanks
Yep, exactly.....for me, the pivot over rules the 50 fib!!

Unless the pa smashes through the pivot cleanly, I would close there....'cos I'm a pussy....lol. Can always re-enter if things look good later
Doing what you like is Freedom. Liking what you do is Happiness.
  • #2,262
  • Aug 1, 2010 10:03pm Aug 1, 2010 10:03pm
Quoting realjumper
Yep, exactly.....for me, the pivot over rules the 50 fib!!

Unless the pa smashes through the pivot cleanly, I would close there....'cos I'm a pussy....lol. Can always re-enter if things look good later
hee hee touche my friend! I'll be doing the same - when I get bigger funds (as in I only use mini lots and sometimes 50 cents as not big budget at moment) I guess I'll start using 2 lots or more, and when it comes to something like this close half and see how PA plays with the pivot and make decision then..

well thats my goal to be able to do
"Millionaires don't use astrology, billionaires do"
  • #2,263
  • Aug 1, 2010 11:17pm Aug 1, 2010 11:17pm
usd cad on D1 chart just hit the LTL forming a triangle, might be good buying oppurtunity here.....
Attached Image (click to enlarge)
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  • #2,264
  • Aug 2, 2010 1:50am Aug 2, 2010 1:50am
E/CHF is forming a Head and shoulders pattern on H1 time, might be a gr8 oppurtunity to buy at the break. Just need TLC to confirm it.
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  • #2,265
  • Aug 2, 2010 2:15am Aug 2, 2010 2:15am
Quoting gta5555
E/CHF is forming a Head and shoulders pattern on H1 time, might be a gr8 oppurtunity to buy at the break. Just need TLC to confirm it.
Well spotted.
  • #2,266
  • Aug 2, 2010 2:34am Aug 2, 2010 2:34am
Gday hows a plan selling selling cable at 15800 50 pip stop? cheers....just a observation
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.gif Size: 16 KB
Click to Enlarge Name: usdcad.gif Size: 20 KB
Click to Enlarge Name: euraud.gif Size: 16 KB
  • #2,267
  • Edited 2:46am Aug 2, 2010 2:44am | Edited 2:46am
i reckon E/U will pull cable up?as in stop it from rising..
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  • #2,268
  • Aug 2, 2010 2:53am Aug 2, 2010 2:53am
Quoting TheLastCoke
Have a similar view

Attachment
Attachment
Right at the spot
  • #2,269
  • Aug 2, 2010 3:08am Aug 2, 2010 3:08am
the old dragon might be a good trade aswell im happy to see u agree TLC on cable....
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  • #2,270
  • Aug 2, 2010 3:39am Aug 2, 2010 3:39am
By the way in Elliott terms, this might be categorized as a C wave. They are particularly strong. So, I am picking away at this one on the short side and have been lucky and tight with the stops, but this might be a BIG ONE. If this TL doesn't hold it down, its free for a while, no?
  • #2,271
  • Aug 2, 2010 3:45am Aug 2, 2010 3:45am
usd/chf :nerd:.................
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  • #2,272
  • Aug 2, 2010 3:46am Aug 2, 2010 3:46am
yay GBPCHF TP reached - 220 pips down and 220 pips back up - rode the range down and up - only small lot but still very satisfying

thanks for all your help so far guys!
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"Millionaires don't use astrology, billionaires do"
  • #2,273
  • Aug 2, 2010 8:28am Aug 2, 2010 8:28am
Anybody else like this pound short?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 31 KB
  • #2,274
  • Aug 2, 2010 9:44am Aug 2, 2010 9:44am
Quoting realjumper
The bearish butterfly on the M15 agrees, but I'm waiting for confirmation
So would the aud/usd trade been stopped out for you guys? It moved over 40 pips against you. Trying to understand SL and take profit points. Thanks!
Former Trader Of the Year of the 95% losing club! Retired
  • #2,275
  • Aug 2, 2010 9:54am Aug 2, 2010 9:54am
Quoting egkid
Then Take care
My long still in Play
http://www.forexfactory.com/showpost...stcount=240108

PS: To b more clear We are near to see correction but i trade long term and i prefer to trade with trend only
Just back from my work
Half closed with 700 pip
  • #2,276
  • Aug 2, 2010 11:33am Aug 2, 2010 11:33am
Quoting egkid
Just back from my work
Half closed with 700 pip

My last pound long closed overnight for +1371 pips.
  • #2,277
  • Aug 2, 2010 12:03pm Aug 2, 2010 12:03pm
http://i32.tinypic.com/2ewihzc.png
  • #2,278
  • Aug 2, 2010 12:16pm Aug 2, 2010 12:16pm
Quoting Low
My last pound long closed overnight for +1371 pips.
Cool but that normal for good trader like you
  • #2,279
  • Aug 2, 2010 12:24pm Aug 2, 2010 12:24pm
Anyone else see a wedge on the UJ here like this?
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rat
  • #2,280
  • Aug 2, 2010 12:46pm Aug 2, 2010 12:46pm
Quoting rattyo
Anyone else see a wedge on the UJ here like this?

Not exactly like that, but not far off either...
Attached Image (click to enlarge)
Click to Enlarge Name: wedgi uj.jpg Size: 112 KB
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