Price is everything

CLOSED

Dude... sick sick trade!

I said look left and trade to the hard right




termed - the hard right because it hasn't happened yet ......... it unfolds infront of your winning or lossing account, hence HARD RIGHT

then that makes me pretty sick

the act of asking this - you find it difficult to believe you can be right


show me anything here that we have done that you can't do ...........

This is Master Red...

[Drunk crap here]

Indeed.

Btw Michael get on skype!

Sunday evening buddy. Unless it is an emergency, tell me.

Just had a few questions about the 1M gap filling thing, not that important, if you have time on Sunday evening that would be great, im working on completing my eu zones and charts, basically threw almost everything out for now.

See you on sunday!

we don't need a sword to cut the market

Getting drunk and finishing up on analysis, will post each pair i trade but it will take some time, ill bookmark this for future reference. Its usually charts not chats but ill take some time explaining the charts in here since its the weekend and i dont wanna polute intraday trading with long-ass analysis that consumes time.

Weekly:


This is for anthonix and the other pitchfork traders mostly: Andrews teaches us that a fork where price fails to reach the median line resolves itself to the C pivot. There are certain timezone techniques to this but i find them highly unreliable and its easier to spot priceaction

Supply/Demand: Just the Obvious really

Priceaction: Ive been warning people about those damn daily pins, it was about at that time when everyone and their mother were screaming: "GO SHORT LOL, IF YOU DONT SHORT YOURE AN IDIOT".
Must have been around that time since thats what most trades saw, sure its not a disagreeable statement but you HAVE to be careful with pinbars, the best entries on pinbars are almost exclusively the 50% mark with stops above the pin high. unless priceaction indicates it wont move north which you can see at lower timeframes.

To be honest it looks to me like were more probable to revisit the Blue fork upwards. Draw the 25% and the 50% lines on that weekly fork and you will see how the bounces reacted along the lines and how it reacted at support. Its very clear actually. So this adds to the probability of longtrades.
Technically the target is 1.397x-1.407x (yes i know thats about a 100 pip range) which is where the bears engulfed the buyers heavily.


Daily:


Dailywise theres nothing more to add than for the weekly, the daily has been very helpful with determining longterm direction with the greenish pitchfork, it looks like its supply capped but its gaining momentum, so see weekly analysis. Reversal doji played out nice as i speculated on, question remains if momentum can keep up and ofcourse where the big boys want this. The less obvious the more likely usually, just try catching the zones really if youre a swingtrader.

4HR:


This is where shit gets real. It actually looks like it broke the bullflag (Thank you Martin (SDVSA) for pointing that out in skype). Credit goes to Martin for spotting that flag. If the next pole complies with the length of the previous one we will be getting another 400-500 pips north which is exactly out target of 1.42x (or the weekly target of 1.397x-1.407x)

As you see ive marked the important supply zones from the previous rally, you can see them in more detail in the following charts.

1HR:


Zones ill be watching out for in more detail over the next week.
The ive added horizontal lines you can see where the levels are exactly, then go to where i marked them on the breakout (4hr and 1hour) and zoom into the 15M chart, you will see why immediately. I call these true supply zones, BUT as Redsword correctly stated you need to watch price actions reaction alongline these zones otherwise they are worthless horizontal levels. But if they get engulfed i will use them as demand zones to reload on Longs assuming momentum is present.

15M:


There is no particular reason why i added this chart other than that i had a discussion with red earlier. He pointed out that what this pattern is; the last couple of bars after the engulfing; is actually a bearflag due to the 15M pole created downwards. So intraday i might use this to watch PA and see if there are reversal poles, then use this as supply or demand depending on direction. We might see some down movement and retracement from people who left positions open over the weekend or from banks who created positions during the weekend.

Overall:


I remain with the stance that im a scalper, but if i see certain bumps along demand levels i will certainly not hesitate to enter some longterm positions which ill be keeping.

My subjective Sentiment remains Bullish even though id have a bias of EU visiting 1.18 or at least 1.25 before the year ends.
For next

As usual please feel free to criticize, comment, add suggestions or things that ive missed, sometimes the things that appear obvious to you arent that obvious to other people. Its unlikely people will change my mind on trades but its nice to have a discussion over the weekend while there is no trading activity and we arent busy watching our scalps like a hawk

The next couple of charts might take a while because im still adding some horizontal levels on EU which i need to finish otherwise i cant scalp. Some historic levels have become obsolete right now, rechecking every line right now... cough... i need more vodka now. Also Fringe airs in an hour or so, cant wait to download it.

EDIT:

forgot to add one little thing on the 4hr chart which isnt obvious at first:


The infamous inverse head&shoulders, it would be interessting to see this one play itself out because if it does and it doesnt fail there is a guarantee for a long to 1.425x, eventhough as i said i prefer the bullflag on 4hr.

Good work!
We'll see how it unfolds next week.

http://www.forexfactory.com/showpost...postcount=6499

ant-

just an idea...

nice chart cablito

It looks like you have invested a lot of time and energy. But in the end, price either goes up or down. Isn't it easier to trade with price as it moves rather than analyse the past?

Hi Peirce,

It does take a lot of time and energy to survive in this business.



Yes, price goes only either up or down but how we manage our capital exposure and take maximum profit is not as easy as saying UP or DOWN.


How are they different? Even when the market is running, we still need to wait untill the bar/ candle closes to make a call otherwise we’re jumping the gun/ gambling. When the bar/candle closed that’s already the past, and we make our trading decision based on what happened in the past. It just takes a quicker thinking to do it.

Welcome and your contribution will be appreciated. Thanks.

ant-

levels for the coming days http://forexoholic.blogspot.com/2011/02/20022011.html

- rather than analyse the past? ...........




have you ever drawn a down trendline or up trendline on fx chart, ANY PAIR ANY TF?