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Backing Trades Thru Charts

  • #2,801
  • Aug 19, 2010 11:06am Aug 19, 2010 11:06am
Managed to get back to even from 100 pips down on the trade. Possible bounce to 1.0520 but I think the pair is very bearish long term.
  • #2,802
  • Edited 12:18pm Aug 19, 2010 11:07am | Edited 12:18pm
reaching resistance.

Edit: Added confluince with fib.
Will short it with 10 pips SL and c.a. 250 pips TP

Edit: 4h chart added.
Probably a pennat.

Also added a pic with another fib showing target may be lower..
But i just trade at the red line. 1.7530
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  • #2,803
  • Aug 19, 2010 11:22am Aug 19, 2010 11:22am
Quoting longshot_nl
I may take this trade..
Buy @ C -> Sell @ arrow.
Rebuy @ 100% fib -> sell @ 161.8 fib.
Didn't go entirely as planned.
Was really simple but complicated it.
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  • #2,804
  • Aug 19, 2010 12:29pm Aug 19, 2010 12:29pm
bos..
can post chart GU and EU with bigger TF..
i got short OP on GU and EU
2 OP on GU and 2 on EU..
all OP now +40..
SL on +BE..
just need to know want to keep it or take it..
Revesal Trader
  • #2,805
  • Aug 19, 2010 12:29pm Aug 19, 2010 12:29pm
If you think i post too much, just say so, i quit posting.

I found this confluence in EU on 38.2 fib.
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  • #2,806
  • Aug 19, 2010 12:47pm Aug 19, 2010 12:47pm
Quoting mygoldenpips
bos..
can post chart GU and EU with bigger TF..
i got short OP on GU and EU
2 OP on GU and 2 on EU..
all OP now +40..
SL on +BE..
just need to know want to keep it or take it..
I'm not your boss, but the positive correlation between EU and GU essentially means you're doubling down (twice the risk, same trade) or in this case quadrupling down by virtue of correlation: 2 trades each on 2 pairs that move similarly= 4x the risk for the same move.
  • #2,807
  • Aug 19, 2010 1:00pm Aug 19, 2010 1:00pm
Quoting Low
I'm not your boss, but the positive correlation between EU and GU essentially means you're doubling down (twice the risk, same trade) or in this case quadrupling down by virtue of correlation: 2 trades each on 2 pairs that move similarly= 4x the risk for the same move.
yup i know boss..
dont worry SL all on +BE..
just need some advice coz i dont see clear direction on both pair
Revesal Trader
  • #2,808
  • Aug 19, 2010 1:15pm Aug 19, 2010 1:15pm
http://i35.tinypic.com/986fio.png
  • #2,809
  • Aug 19, 2010 1:23pm Aug 19, 2010 1:23pm
sometime i wonder..
how you guy keep up with some many pair...
i trade GU,EU,UCAD,NU,AUD..
only 5 pair..
but i still miss there entry..
just can keep up with 3pair at there same time...
Revesal Trader
  • #2,810
  • Aug 19, 2010 1:27pm Aug 19, 2010 1:27pm
Quoting mygoldenpips
sometime i wonder..
how you guy keep up with some many pair...
i trade GU,EU,UCAD,NU,AUD..
only 5 pair..
but i still miss there entry..
just can keep up with 3pair at there same time...
It actually is easier. With only a couple of pairs, I tend to force trades, with 30 or more, I take better opportunities, while the others sort themselves out.
  • #2,811
  • Aug 19, 2010 1:59pm Aug 19, 2010 1:59pm
Quoting mygoldenpips
sometime i wonder..
how you guy keep up with some many pair...
i trade GU,EU,UCAD,NU,AUD..
only 5 pair..
but i still miss there entry..
just can keep up with 3pair at there same time...
I think this is the way to do it.
Click here
  • #2,812
  • Aug 19, 2010 3:06pm Aug 19, 2010 3:06pm
AUD/USD H&S to be confirmed

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  • #2,813
  • Aug 19, 2010 4:07pm Aug 19, 2010 4:07pm
Good morning chf/jpy is there week R1 monthly PPX and UTL the round bottom is a worry risking 25 pips..EURCAD floating + 165 i cant see no selling as of yet .risk free trade ..cheers
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  • #2,814
  • Aug 19, 2010 4:13pm Aug 19, 2010 4:13pm
gbpaud it sure likes the monthly pivot 5th test, buy on the break ,retest
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  • #2,815
  • Aug 19, 2010 4:14pm Aug 19, 2010 4:14pm
There is a giant H/S on UC daily with a measured target of .92xx and beyond. Too crazy????
  • #2,816
  • Aug 19, 2010 4:23pm Aug 19, 2010 4:23pm
I was just thinking about that possible H&S pattern on the A/U. I'm glad you see it.

Quoting TheLastCoke
AUD/USD H&S to be confirmed

Attachment
  • #2,817
  • Aug 19, 2010 4:23pm Aug 19, 2010 4:23pm
Quoting Maxpowers
There is a giant H/S on UC daily with a measured target of .92xx and beyond. Too crazy????
I'm not seeing it. Chart please.
  • #2,818
  • Aug 19, 2010 4:53pm Aug 19, 2010 4:53pm
Quoting Low
I'm not seeing it. Chart please.
Not the best looking chart but it looks pretty obvious to me. A right leaning h/s. Measure from top of head to neckline is roughly 1000 pips.
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  • #2,819
  • Aug 19, 2010 5:14pm Aug 19, 2010 5:14pm
Quoting Maxpowers
Not the best looking chart but it looks pretty obvious to me. A right leaning h/s. Measure from top of head to neckline is roughly 1000 pips.
It's a little rough for me to call it a H&S.

And I actually went long this morning.

One of us will be right.
  • #2,820
  • Aug 19, 2010 5:16pm Aug 19, 2010 5:16pm
looking for a test of 1.0287-84 for a possible buy.
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