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Backing Trades Thru Charts

  • #3,981
  • Jan 11, 2011 12:54am Jan 11, 2011 12:54am
EG daily
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  • #3,982
  • Jan 11, 2011 1:55am Jan 11, 2011 1:55am
Quoting gta5555
EG daily
IMHO, drawing a fib like that is forcing confluence.
It won't be a valid AB=CD pattern like that.
But the trade looks good to me anyhow.!
This is how i would draw it.
Just IMHO.
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  • #3,983
  • Jan 11, 2011 2:52am Jan 11, 2011 2:52am
Quoting longshot_nl
IMHO, drawing a fib like that is forcing confluence.
It won't be a valid AB=CD pattern like that.
But the trade looks good to me anyhow.!
This is how i would draw it.
Just IMHO.
i m not showing any ABCD pattern. just read the chart carefully, i have written Fibonacci Extension( FE ) of AB, and the way i draw it is completely valid. for any other query PM me.
GTA
  • #3,984
  • Jan 11, 2011 6:25am Jan 11, 2011 6:25am
Quoting TheLastCoke
AUD/NZD At entry

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AUD/NZD SL to adjusted, Currently +35

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  • #3,985
  • Jan 11, 2011 6:29am Jan 11, 2011 6:29am
Quoting TheLastCoke
GBP/AUD Approaching entry

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GBP/AUD SL adjusted, Currently +60

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  • #3,986
  • Jan 11, 2011 6:35am Jan 11, 2011 6:35am
Hi TLC, This is my anticipation for GBPUSD (chart is Pound Futures). What do you think?
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"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #3,987
  • Jan 11, 2011 6:45am Jan 11, 2011 6:45am
Quoting teemo
Hi TLC, This is my anticipation for GBPUSD (chart is Pound Futures). What do you think?
Nice confluence you found there (Resistance + TL + Fib). Thanks for posting
  • #3,988
  • Jan 11, 2011 10:07am Jan 11, 2011 10:07am
Quoting TheLastCoke
GBP/CHF Setup Cancelled due to poor rejection

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GBP/CHF Broke level as expected

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  • #3,989
  • Jan 11, 2011 10:46am Jan 11, 2011 10:46am
Quoting TheLastCoke
GBP/CHF Broke level as expected

Attachment
With respect I'd like to show you where I considered support was and why. The wicks on the weekly suggested support was higher too.
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  • #3,990
  • Jan 11, 2011 10:50am Jan 11, 2011 10:50am
Quoting jag1966
With respect I'd like to show you where I considered support was and why. The wicks on the weekly suggested support was higher too.
Hello Jag, your comments are always welcome. I was looking at this level: #3968 . Currently testing 23% Fib. (I'm now flat)

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  • #3,991
  • Jan 11, 2011 11:10am Jan 11, 2011 11:10am
GBP/USD Bearish Confluence

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  • #3,992
  • Jan 11, 2011 11:42am Jan 11, 2011 11:42am
GBPCHF
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  • #3,993
  • Jan 11, 2011 11:48am Jan 11, 2011 11:48am
GBP/USD

hi Coke,

if the level as well as trendline as mentioned by Teemo, gets broken dont u think its better to go for a bullish setup instead of any bearish setup, because that level was tested number of times. c the chart for reference

thanks
GTA
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  • #3,994
  • Jan 11, 2011 12:04pm Jan 11, 2011 12:04pm
Don't normally post here, but do lurk and noticed your last post re Cable - in agreement of potential, but think it may have already gone. Thought I would reproduce here what I submitted elsewhere, for those interested in expansion probabilities and TLs. No fans or retracements to clutter the charts for today.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #3,995
  • Jan 11, 2011 12:35pm Jan 11, 2011 12:35pm
Quoting gta5555
GBP/USD
hi Coke,

if the level as well as trendline as mentioned by Teemo, gets broken dont u think its better to go for a bullish setup instead of any bearish setup, because that level was tested number of times. c the chart for reference

thanks
GTA
Hello GTA, that TL was taken into account long ago, remember that my setups are rated from 1 to 5. When there was a TL confluence the rate was 3. Now that the TL confluence is gone, it still shows a strong possible tuning point but the entry rate was lowered to 2. Due to the great RRR and tight SL requiered the setup remained valid.

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  • #3,996
  • Jan 11, 2011 12:40pm Jan 11, 2011 12:40pm
Quoting 45Condor
Don't normally post here, but do lurk and noticed your last post re Cable - in agreement of potential, but think it may have already gone. Thought I would reproduce here what I submitted elsewhere, for those interested in expansion probabilities and TLs. No fans or retracements to clutter the charts for today.
Hello Condor, If the TL is stong enough to make a LL this might be a turning point:

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  • #3,997
  • Jan 11, 2011 12:47pm Jan 11, 2011 12:47pm
I look forward to Coke's feedback on this; but wanted to present a possible scenario if the current Supply level gets broken. Personally, I remain bearish in the medium term.

Quoting gta5555
GBP/USD

hi Coke,

if the level as well as trendline as mentioned by Teemo, gets broken dont u think its better to go for a bullish setup instead of any bearish setup, because that level was tested number of times. c the chart for reference

thanks
GTA
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"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #3,998
  • Jan 11, 2011 12:56pm Jan 11, 2011 12:56pm
Oops -Sorry Coke - long day; I could have avoided being repetitive here if I paid better attention to your chart.


Quoting TheLastCoke
Yes, basically the same chart I have.
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #3,999
  • Jan 11, 2011 1:37pm Jan 11, 2011 1:37pm
sorry for my english!
it is look like a Falling Wedge to me.
the area you mark it is a area that a correction will take place and then we go north .
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  • #4,000
  • Jan 11, 2011 7:49pm Jan 11, 2011 7:49pm
Quoting TheLastCoke
GBP/AUD SL adjusted, Currently +60

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GBP/AUD Setup Closed, -35

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