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Triple taps

  • #501
  • Oct 5, 2010 5:33pm Oct 5, 2010 5:33pm
Went into A/J at the top channel line....triple tap

Entered E/CAD on the triple tap.....trend line from the head of the head and shoulders formation to the last shoulder.
  • #502
  • Edited 9:07am Oct 6, 2010 4:18am | Edited 9:07am
A/J and E/CAD were a wash....lost A/J and won E/cad....

+14 pips total....just closed E/CAD. A/J hit SL last night while I slept. (It did fall 30 pips then reversed....should have lowered TP since the third tap was one the 1 hr...my sl was also too tight.

May go back in E/CAD...wanted to even up the losing trade. Also, there's a doji....so looks like a reversal for a bit. The head and shoulder looks to be playing out...it's officially finished the second shoulder at about 139.70
  • #503
  • Oct 6, 2010 4:36am Oct 6, 2010 4:36am
since everyone has left....I'm going to save my time and close the thread. Good fortune!!!
  • #504
  • Oct 6, 2010 6:17am Oct 6, 2010 6:17am
Quoting cugir321
since everyone has left....I'm going to save my time and close the thread. Good fortune!!!
Hi Curgirl,

I have not left. I am still looking into the thread. dun worry.
  • #505
  • Oct 6, 2010 9:08am Oct 6, 2010 9:08am
A few people asked me to keep posting....I probably will post my trades since it helps them.

Quoting JGforex7780
Hi Curgirl,

I have not left. I am still looking into the thread. dun worry.
  • #506
  • Edited 4:04pm Oct 6, 2010 3:29pm | Edited 4:04pm
E/A - just came off the long main trend line - the main trendline is down.

The indicators aren't perfect. There is a new small trendline going down on the 4hr. three taps about 10 pips ago.

The stoch and rsi look pretty good. The TDI is medicore.

Use judgement.

______________

A/NZD is stalled at 1.3000....if it breaks up over this line then should rise nicely. I don't think it will. Price broke under the long rising trendline.

----------------

I kind of like E/chf. Just triple tapped on h4. Laggs look nice if you have them. The other indicators are medium excitement. RSI and stoch look decent....tdi mediocre
  • #507
  • Oct 6, 2010 3:38pm Oct 6, 2010 3:38pm
Check out GU .. seems to be bouncing of a triple tap on hourly up channel line at 1.5890 area

I am hoping for one more up move before interest rates tomorrow as if you looks like a rounded top. I am hoping for sell off 1.5900 for 100 pip plus. Will be my 4th only fx trade this week

one ej stopped out
one eu +150 pip
one ej +75
and one GU ? 100

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 132 KB




Quoting cugir321
E/A - just came off the main trend line - the main trendline is down.

The indicators aren't perfect. There is a new small trendline going down on the 4hr. three taps about 10 pips ago.

The stoch and rsi look pretty good. The TDI is medicore.

Use judgement.

______________

A/NZD is stalled at 1.3000....if it breaks up over this line then should rise nicely. I don't think it will. Price broke under the long rising trendline.
Blogging daily now at www.volume.zone
  • #508
  • Oct 6, 2010 4:13pm Oct 6, 2010 4:13pm
E/A - just came off the long main trend line - the main trendline is down.

The indicators aren't perfect. There is a new small trendline going down on the 4hr. three taps about 10 pips ago.

The stoch and rsi look pretty good. The TDI is medicore.

Use judgement.

It never broke yesterdays high. The 4hr chart is consolidated on the tdi. The daily looks fairly maxed.

My gut says down. The 1h, 4h, are down trend...the daily is somewhat down. Since it's just maxed on the upper trend line....I say down. It's consolidated at 1.4250.....a psych level. I think when it breaks the 1.4242 pivot line then we'll be in business for a short.

The chart below is a daily.....the little tail is the 4 hr triple tap line. May be a 100 pip drop tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: ea123.gif Size: 21 KB
  • #509
  • Edited 4:25pm Oct 6, 2010 4:14pm | Edited 4:25pm
a good day malc!

G/U - the 1 hr looks like an ugly head and shoulders formation. It's hard to tell where the bottom of the formation is. Looks almost complete. And ready for a possible drop. Trend is pretty much down on 1 hr, 4hr, daily....

1.5900??? it's been three hours since it's been there?????



Quoting malcolmb14
Check out GU .. seems to be bouncing of a triple tap on hourly up channel line at 1.5890 area

I am hoping for one more up move before interest rates tomorrow as if you looks like a rounded top. I am hoping for sell off 1.5900 for 100 pip plus. Will be my 4th only fx trade this week

one ej stopped out
one eu +150 pip
one ej +75
and one GU ? 100

Attachment
  • #510
  • Oct 6, 2010 4:28pm Oct 6, 2010 4:28pm
ah no i am waiting for the notorious franki fake out.... we may get a nice little pop just before London .

Quoting cugir321
a good day malc!

G/U - the 1 hr looks like an ugly head and shoulders formation. It's hard to tell where the bottom of the formation is. Looks almost complete. And ready for a possible drop. Trend is pretty much down on 1 hr, 4hr, daily....

1.5900??? it's been three hours since it's been there?????
Blogging daily now at www.volume.zone
  • #511
  • Oct 6, 2010 4:52pm Oct 6, 2010 4:52pm
My pick tonight is.....drum rollllllll.....E/CHF. Short....sometime soon. Maybe at 8:00pm eastern usa time


I say it will go to about 1.33 then......
  • #512
  • Edited 6:03pm Oct 6, 2010 5:33pm | Edited 6:03pm
I walked out to get a snack and E/A went 80 pips in 3 minutes....holy cow!!!

I called it a few post's back but did a drum roll on the wrong one!
  • #513
  • Oct 6, 2010 5:57pm Oct 6, 2010 5:57pm
E/A just tapped the bottom line of the channel....triple tap on the daily chart. Go easy and watch it a little to make sure it doesn't drop thru.

I just changed my mind....it just tapped the top. I think it's going down more....may retrace a bit but.....
  • #514
  • Oct 6, 2010 6:05pm Oct 6, 2010 6:05pm
E/A just tapped the bottom line of the channel....triple tap on the daily chart. Go easy and watch it a little to make sure it doesn't drop thru.

I just changed my mind....it just tapped the top. I think it's going down more....may retrace a bit but.....it's a long way down to the main bottom channel line

Here's the chart for the main channel before the big 80 pip drop. Long drop!!!
Attached Image (click to enlarge)
Click to Enlarge Name: ea123.gif Size: 21 KB
  • #515
  • Oct 6, 2010 6:25pm Oct 6, 2010 6:25pm
I don't want to predict anything, but your call on E/Ch is good i think, there's actually a diamond with a nice target of ~200pips down but first it may be a fake out up.
we'll see tomorrow around 830est
  • #516
  • Oct 6, 2010 6:40pm Oct 6, 2010 6:40pm
Quoting tpr
I don't want to predict anything, but your call on E/Ch is good i think, there's actually a diamond with a nice target of ~200pips down but first it may be a fake out up.
we'll see tomorrow around 830est
I am not selling anything euro related .. euro is the strongest currency out there right now... stronger than chf in fact , for now any way

If you really want to sell something sell gbpchf , been awesome today as chf strong and gbp weak
Blogging daily now at www.volume.zone
  • #517
  • Edited Oct 7, 2010 4:42am Oct 6, 2010 9:47pm | Edited Oct 7, 2010 4:42am
E/CHF

I hear you Malc.... Yes, It's been strong but it's coming up on the major trend line. That trend line has been down for over a couple years.

The daily tdi and the 4 hr tdi are up....the stoch is up. These need to drop before the weekly and monthly play out. I'm not saying it won't go through the line. I'm saying the 4 hr and daily need to play out before it does make a move one way or another. I have a lagg indicator on the chart....the weekly and monthly laggs are all down. They could stay down for another year. It's hard to say. The 4 hr and daily are pretty much maxed up....they also need to drop sometime before the longer TF's play out in an up direction. These things can fool me!!! It's happened before!

I'm only thinking of a drop to the 1.3335 to 1.3360 area for my trade. 30-60 pips. Could be a lot more . I wouldn't bet that much. I'll try for a small chunk and be happy.

I could be wrong!!! We'll see soon!!!

I'm not so sure this one is as cut and dry as I previously thought.
  • #518
  • Oct 6, 2010 10:01pm Oct 6, 2010 10:01pm
I agree eu is due for a retrace but every little dip is being bought.

GBP is way weaker and in more of a sideways trend making it nice to play both buys and sells

Quoting cugir321
I hear you Malc.... Yes, It's been strong but it's coming up on the major trend line....
Blogging daily now at www.volume.zone
  • #519
  • Oct 6, 2010 10:12pm Oct 6, 2010 10:12pm
It looks like a retrace is coming on E/G

I was talking about E/CHF in the last post.

I really don't pay much attention to the specifics of the currency. I try to live by the indicators. Not saying news doesn't effect it....it does, but, the technicals usually play out no matter what. Timing may be effected but in the end....if it's over bought, it needs to be sold. The indicators don't lie. They just don't give exact times.
  • #520
  • Oct 7, 2010 2:14am Oct 7, 2010 2:14am
hi again..
counter trend EU 4 taps.. current high also at mid term fan projection 1.3994 let's see how price react towards this level.. (+/-)
i am thinking if euro continue to push higher it may bring along e/cad pair.. and to think of $/cad.. well its on 3rd tap 1.0065..
previous link to $/cad chart is here..
http://www.forexfactory.com/showpost...75&postcount=3


take care and good luck..
i will be back if i see something


(p.s. the one thing i don't do is to advertise my position.. hope you understand )
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