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Backing Trades Thru Charts

  • #3,681
  • Dec 3, 2010 5:54am Dec 3, 2010 5:54am
Re testing black ascending TL broken days ago, 100SMA, 38.2 fibo retracement (blue line), 14 EMA(red) and testing descending channel on h4.
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  • #3,682
  • Dec 3, 2010 5:59am Dec 3, 2010 5:59am
Here's H4. 3362 fibo level, R2 @3360, 3408 weekly DP and descending channel. Besides, we're testing the zone from the previous drop in price.
The blue line is the black ascending TL I posted in daily chart previously.
With all this as resistance, it's still a risky trade to go short today in this context.
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  • #3,683
  • Dec 3, 2010 6:04am Dec 3, 2010 6:04am
Quoting maurofx
Here's H4. 3362 fibo level, R2 @3360, 3408 weekly DP and descending channel. Besides, we're testing the zone from the previous drop in price.
The blue line is the black ascending TL I posted in daily chart previously.
With all this as resistance, it's still a risky trade to go short today in this context.
On different circumstances, I would have taken the trade. Let's see how this episode ends.
  • #3,684
  • Dec 3, 2010 6:47am Dec 3, 2010 6:47am
Quoting TheLastCoke
On different circumstances, I would have taken the trade. Let's see how this episode ends.
I haven't take the trade either, very complicated area. Weekly candle turned bullish, I should have given more importance to the test of the blue descending TL at the bottom, but I was waiting for a retest of the blck ascending TL @2910 area wicha was my bear tg.
Anyone has a long term analysis to share??? Tks!!
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  • #3,685
  • Dec 3, 2010 7:06am Dec 3, 2010 7:06am
Quoting maurofx
Anyone has a long term analysis to share??? Tks!!
I lost my bullish entry for few pips #3655. I'll post my new setup over the weekend

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  • #3,686
  • Dec 3, 2010 7:42am Dec 3, 2010 7:42am
Quoting TheLastCoke
I lost my bullish entry for few pips #3655. I'll post my new setup over the weekend

Attachment
That's a real shame, I experienced the same situation and hold some losses waiting for the price to bounce back down. But this is how business is mi amigo.
What do you think as a chartist about the black descending TL where price bounced from? The on that says "chequea este invento tuyo como funciona" jaaj! Because actually it's no TL as it was broken before it even exists...do I explain myself. Tks for your tima Gabriel!!!
  • #3,687
  • Edited 8:00am Dec 3, 2010 7:46am | Edited 8:00am
Quoting maurofx
What do you think as a chartist about the black descending TL where price bounced from?
EUR/USD Can't find enough conflunce to trade that TL but have this so far. (Still working on it)

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  • #3,688
  • Dec 3, 2010 8:09am Dec 3, 2010 8:09am
Testing H4 downrad channel. If it gets to weekly pivot @ 3408 and bounces I'll short a small size. We've had almost 430 pips with only one retracement wich was easily bounced back up. Let's see.
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  • #3,689
  • Dec 3, 2010 11:07am Dec 3, 2010 11:07am
Quoting TheLastCoke
CAD/CHF Tight SL required

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CAD/CHF Shame I didn't give her enough room

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  • #3,690
  • Dec 3, 2010 11:18am Dec 3, 2010 11:18am
NZD/USD Very Strong confluence made and excellent job, No DD (couldn't ride it all)

The Setup #3638
The Entry #3649
The Rejection #3661
The Mistake #3664
The Target:

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  • #3,691
  • Dec 3, 2010 11:27am Dec 3, 2010 11:27am
GBP/USD Volatility got me out of this one too. No DD

The Setup #3637
The Rejection #3653

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  • #3,692
  • Edited 2:21pm Dec 3, 2010 1:54pm | Edited 2:21pm
Quoting TheLastCoke
NZD/USD Very Strong confluence made and excellent job, No DD (couldn't ride it all)

The Setup #3638
The Entry #3649
The Rejection #3661
The Mistake #3664
The Target:

Attachment ...
Hi TLC, i don't pretend to be as good as you but i made a mistake too.
I took it for 120 pips because i predicted the bump:
http://www.forexfactory.com/showpost...postcount=3652
But i didn't re-enter.

but... this is some confluince for next possible trade.
will look for more confluince next week.
don't have time now.

I called a 2 but maybe its a 1.5 because this isn't a relevant high/low but rather just a resistance line.
have a good weekend all.
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  • #3,693
  • Dec 3, 2010 2:40pm Dec 3, 2010 2:40pm
Quoting longshot_nl
Hi TLC, i made a mistake too.
Hello, Longshot maybe that isn't the right word to use, It was just how the setup developed. SL was moved once price reached almost 3/4 of T1. (nothing really wrong with that)

Have a wonderful weekend!!!
  • #3,694
  • Dec 3, 2010 2:47pm Dec 3, 2010 2:47pm
The weekly report for November 29th to December 3rd is ready.
Feel free to visit the Review our Performance section.

Have a great weekend!!!!
Gabriel Collazos
  • #3,695
  • Edited 7:16am Dec 4, 2010 6:15am | Edited 7:16am
38.2 may be just a retrace.
But even with the bulish alternative there is a chance it goes down for 190 pips or so.

edit: improved chart
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  • #3,696
  • Edited 7:06am Dec 5, 2010 3:04am | Edited 7:06am
This here looks good to me except that i don't see any confluince yet on lower timeframes.
I will follow this pair closely.
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  • #3,697
  • Dec 5, 2010 3:18am Dec 5, 2010 3:18am
Quoting longshot_nl
38.2 may be just a retrace.
But even with the bulish alternative there is a chance it goes down for 190 pips or so.

edit: improved chart
looks good.

what about this resistance-area (1.35)?

edit: ops, just saw that you nearly got the same area marked on your chart...
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meine augen sind die sterne
  • #3,698
  • Dec 5, 2010 1:52pm Dec 5, 2010 1:52pm
Quoting TheLastCoke
GBP/JPY Moving thru channels

Attachment

Based on previous PA, 50% Fib gave us the entry

Attachment
GBP/JPY Might continue its descent thru this channel.

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  • #3,699
  • Dec 5, 2010 2:08pm Dec 5, 2010 2:08pm
Quoting aserbfx
looks good.

what about this resistance-area (1.35)?
EUR/USD I have something similar #3687
  • #3,700
  • Dec 5, 2010 7:15pm Dec 5, 2010 7:15pm
Do not pay attention to this chart. I had to post it so I could send it into a PM to TLC. Sorry for any inconvinience caused to other tradears following this thread.
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