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Triple taps

  • #41
  • Sep 20, 2010 9:00pm Sep 20, 2010 9:00pm
Quoting lawgirl21
If the news tomorrow is supposed to tank the USD, we should take a look at gold. All TFs are long and there has been 3 taps on the H4 chart. I'm in.
doubt they will just take off on gold. I have not traded it much as i focus gu , eu and es ( emini s and p )

They may do some form of rapid down move , called a shake out. I am expecting one on gu if price is to move higher. ON gu this shake out is typically in frankie.

I do like the higher lows on the 4 hr of gold , does point to a break out.

I will place my long 1268 at bottom of range , gold has a nasty habit opf doing shake outs of $12 on a 4 hr chart

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  • #42
  • Sep 20, 2010 9:01pm Sep 20, 2010 9:01pm
I got the real thing You should look at silver. There's a real big reverse head and shoulders that is playing out right now. I don't watch it much because I'm holding physical until the government yells mama! I'm guessing 22-23 soon.....then a shot to 26-27.00. I used to follow it but now I ignore it. I'll sell when the ratio of silver to gold is about 25/1.

Gold is going up...no doubt. I've been listening to the experts say it's going to drop for 6 months. I'm waiting for 5k / ounce. I'll then buy the town I live in. The big banks have not been trading it....ahhh wonder why???? Think they expect something?

Yes pay attention to metals. I really think it's the only way to tell if the government is still alive.

Quoting lawgirl21
If the news tomorrow is supposed to tank the USD, we should take a look at gold. All TFs are long and there has been 3 taps on the H4 chart. I'm in.
  • #43
  • Sep 20, 2010 9:14pm Sep 20, 2010 9:14pm
Quoting lawgirl21
I believe most of us trade using H4 charts. I like the daily charts also, but often like watching paint dry.

Your charts don't look like you are a simple S/R trader. They are impressive.
lol I am busted

I trade using the relationship of candles and volume. I use esignal 200 source gtis feed for collective tick vol of the market. I also use futures volume on another screen

Mostly for my s/r areas I use todays value area ( value area being 70% ile of volume) and prior days value area.

Tomorrow I will defo be buying if 1.5600 breaks to upside as that is today's value area high and if price trades above this with volume supporting the buying then our upside target is 1.5700 ish .

I also use point of control for the last 20 trading sessions as my s/r lines ( each day there is a price at which max volume occurs and if you look at my 15 min chart 1.5612 was poc 8 trading days ago , it triple tapped it with the large green candle poking out just above it with NO volume ( no demand and no buyers interested ).

The histogram you see on side of chart is just the volume distribution for the day. Note how most of the vol is in the lower part oif the day. This suggest accumualtion and an up move as pros buy on weakness and sell on strength.

I trade a 15 min charts mostly as using these I can get a pretty good story of what the pros are up to ... sounds odd i know but they leave footprints everywhere if you know what to look for.


If i see good triple tap plays forming on a 15 min I will try throwing them up as they play out.

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  • #44
  • Sep 20, 2010 9:24pm Sep 20, 2010 9:24pm
I am somewhat bullish gu for fomc ...

will be looking for any shake outs that look like either of these.... gu is notorious for them . If one happens you can be sure price will move higher.

Maybe look for triple taps of support lines if this shake out breaks below one then next bars closes back above it


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  • #45
  • Sep 20, 2010 9:29pm Sep 20, 2010 9:29pm
Quoting malcolmb14
lol I am busted

I trade using the relationship of candles and volume. I use esignal 200 source gtis feed for collective tick vol of the market. I also use futures volume on another screen

Mostly for my s/r areas I use todays value area ( value area being 70% ile of volume) and prior days value area.

Tomorrow I will defo be buying if 1.5600 breaks to upside as that is today's value area high and if price trades above this with volume supporting the buying then our upside target is 1.5700 ish .

I also use point of control for the last 20...
Please do post the good 15M charts as you see them, that is what this thread is about.

Your trading system sounds extremely unique and technical. I know that volumn is important and I should pay more attention to it. I am going to try to do that. I tend to pay much more attention to charts and PA, historical highs and lows, etc. than news and other things.
  • #46
  • Sep 20, 2010 9:35pm Sep 20, 2010 9:35pm
G/U just did a bottom triple tap.
  • #47
  • Sep 20, 2010 9:39pm Sep 20, 2010 9:39pm
Quoting cugir321
G/U just did a bottom triple tap.
Aren't you already in this trade long?
  • #48
  • Sep 20, 2010 9:44pm Sep 20, 2010 9:44pm
yes...but I do like to see that it should do what it's supposed to do. Go up...

I'm off to bed. Good fortune! Keep an eye on U/J....it's falling again.

It may be a good one for your breakout thing. I wish I could monitor it....
  • #49
  • Sep 21, 2010 1:08am Sep 21, 2010 1:08am
Cugirl, Lawgirl

Thanks for opening this thread - i will try to put my penny in (worth a bit more than $0.00000001 cent!)

Im only trading dailies

I had a bit of help from someone to get me head striaght on the methodology (i have blonde roots lol!) and took a short on the U/C (which i will post tonight!)

Thanks ladies
  • #50
  • Sep 21, 2010 4:55am Sep 21, 2010 4:55am
Lost 50 on G/U.

Went in on U/J at 85.40. It broke the channel. The Daily looks good.
  • #51
  • Sep 21, 2010 5:10am Sep 21, 2010 5:10am
potential treble tap 15 min gu off 1.5510 area , target is about 1.5600

we may not see exactly 1.5500 on third tap so placing long 1.5515

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  • #52
  • Sep 21, 2010 5:46am Sep 21, 2010 5:46am
Quoting malcolmb14
potential treble tap 15 min gu off 1.5510 area , target is about 1.5600

we may not see exactly 1.5500 on third tap so placing long 1.5515

Attachment

long entry hit , will place stop be as soon as I have +20
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  • #53
  • Sep 21, 2010 6:58am Sep 21, 2010 6:58am
A/U possible downtrend.

I am in. Short @0.9843
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  • #54
  • Sep 21, 2010 7:14am Sep 21, 2010 7:14am
Woke up still in everything but gold...lost $630.
  • #55
  • Sep 21, 2010 7:19am Sep 21, 2010 7:19am
Quoting lawgirl21
Woke up still in everything but gold...lost $630.

ouch gold barely moved.

I removed my long entry ... focused gu , eu and es today.

Threw an almost triple tap up for gu earlier , up 45 pip with half off at 50 pip already and other half stop set +20

i am a day trader.... and fomc freaks me out although eu and gu could be setting up for really nice up moves.
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  • #56
  • Sep 21, 2010 7:25am Sep 21, 2010 7:25am
This is what I meant by adding order to a running position which I posted on Trendline thread. Rather then trade one standard lot in one trade. I split them up into multiple trades netting more pips and reducing the risk.

If my first trade failed then I would have a chance to fight again with the remaining order. Net profit result is more or less equal or more but risk is considerably reduced.
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  • #57
  • Sep 21, 2010 7:29am Sep 21, 2010 7:29am
Quoting JGforex7780
A/U possible downtrend.

I am in. Short @0.9843
JG,
for uptrend you draw trendline below the price and
for downtrend you draw trendline above the price

In your chart you have a trendline above the price for uptrend. That would be wrong trendline. Unless you draw a channel trendline is not suppose to be drawn above the price for uptrend.

Hope it helps
  • #58
  • Sep 21, 2010 7:30am Sep 21, 2010 7:30am
Quoting lawgirl21
Woke up still in everything but gold...lost $630.
Which pair did you trade lawgirl? if you don't mind me asking?
  • #59
  • Sep 21, 2010 7:46am Sep 21, 2010 7:46am
Quoting vijidas
Which pair did you trade lawgirl? if you don't mind me asking?

I set a pending sell last night before I went to bed on USDJPY, in case it broke that bottom trendline. It did and the trade triggered, but it looks like PA still does not know what it wants to do.

I am in GU also on a daily TF, so that is very slow.
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  • #60
  • Sep 21, 2010 7:48am Sep 21, 2010 7:48am
Quoting vijidas
This is what I meant by adding order to a running position which I posted on Trendline thread. Rather then trade one standard lot in one trade. I split them up into multiple trades netting more pips and reducing the risk.

If my first trade failed then I would have a chance to fight again with the remaining order. Net profit result is more or less equal or more but risk is considerably reduced.

This looks like a smart way to do things. I like it.
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