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NEW Candles Formation Trading -Petar Formation

  • #841
  • Sep 21, 2010 7:15am Sep 21, 2010 7:15am
Quoting mfinab
Hi!

I don't find any signal right now! Anybody find some good one ?

Have a good day to all!

Mfinab
I see on H1 EURGBP posible trade,this TL i draw is from H4,we will see...I dont trade this pair but i post for you maybe can help you...


Cheers

Petar
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"Buy on fear, sell on greed !!!
  • #842
  • Edited Sep 22, 2010 4:38am Sep 21, 2010 8:45am | Edited Sep 22, 2010 4:38am
is this a euro take off? long term bull move triggered to 1.3300 and 1.3800, looks a long way atm, just a few confirmation is left to have an easy and smooth ride, currently looking at a challenge of 1.3337 peak of 08/09/10, also im looking at Options contract to see if if i can get good premium

current resistance is around 1.3150ish

will try to post intermediate charts with tagets

candle formation may be triggered for sell setup on H4 if this current candle cannot make higher high, on that note i took a sell now 1.3135 to target 1.3073, then will see what next, SL at 1.3156
Attached Image(s) (click to enlarge)
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  • #843
  • Sep 21, 2010 9:51am Sep 21, 2010 9:51am
Quoting pet

candle formation may be triggered for sell setup on H4 if this current candle cannot make higher high, on that note i took a sell now 1.3135 to target 1.3073, then will see what next, SL at 1.3156
looking like there is a good possibility to target 1.2950, this pair is currently on a tricky spell as the bull are still present but profit taking will make it heading down before resuming upward, always good to re-evaluate at critical points as the clue to directions lies there.

intermediate bear targets are 1.3073, 1.3050, 1.3024, 1.2976, 1.2946, will see
  • #844
  • Edited 11:17am Sep 21, 2010 10:58am | Edited 11:17am
Pet, tonight there is the FED speech, or do you count with that?.

But knowing your deals.....I follow you, once more.

Good luck.

James.
  • #845
  • Sep 21, 2010 11:25am Sep 21, 2010 11:25am
Thanks Pet to share with us your toughts on USD / EUR.

Let's see what's gonna happend !
  • #846
  • Sep 21, 2010 12:43pm Sep 21, 2010 12:43pm
Quoting pet
is this a euro take off? long term bull move triggered to 1.3300 and 1.3800, looks a long way atm, just a few confirmation is left to have an easy and smooth ride, currently looking at a challenge of 1.3337 peak of 08/09/10, also im looking at Options contract to see if if i can get good premium

current resistance is around 1.3150ish

will try to post intermediate charts with tagets

candle formation may be triggered for sell setup on H4 if this current candle cannot make higher high, on that note i took a sell now 1.3135 to target 1.3073,...
We will see i have sell eurjpy 2 position according daily and also AUDUSD looks good for sell but let market decide...

Cheers

Petar
"Buy on fear, sell on greed !!!
  • #847
  • Sep 21, 2010 12:56pm Sep 21, 2010 12:56pm
Quoting Petar_Serbia
We will see i have sell eurjpy 2 position according daily and also AUDUSD looks good for sell but let market decide...

Cheers

Petar
THis is my AUDUSD view >

now we siting on 2 strong trendlines and i expext sell in next days,we will see...


Cheers


Petar
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"Buy on fear, sell on greed !!!
  • #848
  • Sep 21, 2010 6:52pm Sep 21, 2010 6:52pm
http://my.jetscreenshot.com/4229/201...qbvq-902kb.jpgHi!

Let's hope it will stop at 0.0 Fibo. and go back down.... Does my chart seems to have some good trends ? It's only missing the Petar formation at the top and I this would be a good signal.

But if it goes more higher, Euro will kick more up!!

Good night to all.

Tell me your toughts on this one please. I wan to learn so hard.

Thanks !
  • #849
  • Sep 22, 2010 4:41am Sep 22, 2010 4:41am
Quoting pet
is this a euro take off? long term bull move triggered to 1.3300 and 1.3800, looks a long way atm, just a few confirmation is left to have an easy and smooth ride, currently looking at a challenge of 1.3337 peak of 08/09/10, also im looking at Options contract to see if if i can get good premium

current resistance is around 1.3150ish

will try to post intermediate charts with tagets

candle formation may be triggered for sell setup on H4 if this current candle cannot make higher high, on that note i took a sell now 1.3135 to target 1.3073, then...

well, it so happened that my bullish analysis paid off afterall, but not after having a small loss of 21pips of sell position opened, anyways that is what always happens when anyone tries to jump b4 the gun and the first warning was when the reason for taking the trade which was the anticipation of forming a sell setup in the current H4 candle at the time of taking the trade which never materialized, so that would been time to exit with small profit but was on a long distance phone call with an associates discussing some december Options contracts, so i did not take it and loss 21pips, like i said before whenver my SL is taking out it is a big plus for me because the market would have just informed me when the next bias target will be , which may not have been clear initially when the losing trade was taken.

ok, on the bullish front, we made the first target of 1.3337ish which the 100% and the next is 1.3800 long term which is 1.618% of this move, this may look far away at the moment but it is still a good contender and if price dont make it there, then it would seem the current impulse wave 5 has ended and we can begin to look for bear targets, this should be a gold mine for those familiar with fib expansion etc as all possible scenarios from here can be checkmated to achieve profits, pls see charts below - was first posted yesterday
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  • #850
  • Sep 22, 2010 7:29am Sep 22, 2010 7:29am
my take on gpyjap atm, the trouble is soo many support going down and bullish target of 136.05 still remains, so trading carefully on this one if target 2 on chart is not achieved then obviously we are looking at higher price than where price is coming from which is above 135.06.

131.63 looks like good support, support and resistance are either meant to be broken or respected.
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  • #851
  • Sep 22, 2010 7:35am Sep 22, 2010 7:35am
Quoting pet
my take on gpyjap atm, the trouble is soo many support going down and bullish target of 136.05 still remains, so trading carefully on this one if target 2 on chart is not achieved then obviously we are looking at higher price than where price is coming from which is above 135.06.

131.63 looks like good support, support and resistance are either meant to be broken or respected.
Hey Pet how are you ?

Good setups

I will post some posible trades later...


Cheers

Petar
"Buy on fear, sell on greed !!!
  • #852
  • Sep 22, 2010 7:39am Sep 22, 2010 7:39am
Quoting Petar_Serbia
Hey Pet how are you ?

Good setups

I will post some posible trades later...


Cheers

Petar
hey im good, awaiting your post as always, cheers
  • #853
  • Sep 22, 2010 7:53am Sep 22, 2010 7:53am
Quoting Petar_Serbia
Morning guys, i have buy on eurusd currently 100 pips plus i didnt close from first confirmation becouse i wait to see oposite signal to close but becouse i didnt see oposity signal i still hold long on EURUSD >



Cheers





PEtar
This is still wonderfull trade i didnt hold for this pile of pips but as i said Hilio+formation on eurusd is very powerfull and i will wait next trade,very good run around 600 pips:nerd:
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"Buy on fear, sell on greed !!!
  • #854
  • Edited 8:37am Sep 22, 2010 8:10am | Edited 8:37am
Quoting Petar_Serbia
This is still wonderfull trade i didnt hold for this pile of pips but as i said Hilio+formation on eurusd is very powerfull and i will wait next trade,very good run around 600 pips:nerd:

good one Petar, thats the reason i have been seriously doing options on currency since two months now, because sometimes you see very good setup and the ideal targets looks a long way from current price and you look around and you see many other contrarian arguement that might have looked reasonable at the time since we all have the frear of the market, trader tends to chicken off, so what i do these days is to get good options premium alongside my intra-day trades, if the setup is good i take what is on offer on swing trades and leave the Options to do the blessings, atleast i do not have to worry about SL and would have made back whatever i paid on the options premium plus profit then i can trade less or be able to take other counter trend positions. so far very good, sometimes you can get good Call premiums for as low as 15points for a contract, so i open atleast two contracts to close one once i have enough pips since you dont have the choice of use trailing stops on options, then let the other run as far as trend is still in place, if you are right before the end of the week you'll already be in serious money

IN IT TO PIP IT, TP4 MET ON H4 CHART, AND TP2 MET ON DAILY,VERTICAL LINES ON CHART ARE FIBONACCI TIME ZONES, NUMEROUS OPPORTUNITIES AND ENTRIES TAKING ALONG THE WAY
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  • #855
  • Sep 22, 2010 9:05am Sep 22, 2010 9:05am
Quoting pet
good one Petar, thats the reason i have been seriously doing options on currency since two months now, because sometimes you see very good setup and the ideal targets looks a long way from current price and you look around and you see many other contrarian arguement that might have looked reasonable at the time since we all have the frear of the market, trader tends to chicken off, so what i do these days is to get good options premium alongside my intra-day trades, if the setup is good i take what is on offer on swing trades and leave the Options...
Apsolutly agree,Stock market is verz important for currency..I posted mz DIJ chart and i said we wil see 10800 look what we have now:10 800 and DOji on trendline,if DIJ retrace EUR will fallow that is all in web.
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"Buy on fear, sell on greed !!!
  • #856
  • Sep 22, 2010 10:22am Sep 22, 2010 10:22am
tp1 hit on gbpjpy 131.90, +90pips on 1position, tp taken and closed
2nd position entry 134.15, currently SL @ 132.99,atm +225pips still on
  • #857
  • Sep 22, 2010 11:18am Sep 22, 2010 11:18am
exited last sell position @ 132.05, im going out ,will see what price is up to when i get back,

wish u all many pips
  • #858
  • Sep 22, 2010 11:31am Sep 22, 2010 11:31am
Quoting pet
exited last sell position @ 132.05, im going out ,will see what price is up to when i get back,

wish u all many pips
b4 i go, interesting activities currently in gbpchf, waiting confirmation around crucial area for a "for or against" scenario.
  • #859
  • Sep 22, 2010 11:35am Sep 22, 2010 11:35am
Quoting pet
tp1 hit on gbpjpy 131.90, +90pips on 1position, tp taken and closed
2nd position entry 134.15, currently SL @ 132.99,atm +225pips still on
Happy green pips mate
"Buy on fear, sell on greed !!!
  • #860
  • Sep 24, 2010 8:34am Sep 24, 2010 8:34am
GPYJAP, all the lines on chart are useful and there for a reson
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