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Backing Trades Thru Charts

  • #4,401
  • Mar 14, 2011 9:09am Mar 14, 2011 9:09am
Quoting TheLastCoke
GBP/USD May be heading north. I had a Bearsih setup at the TL + 38% Fib confluence but was cancelled after the H&S like formation.

Attachment

Attachment
GBP/USD H&S is Confirmed, 61% Fib may be next stop

Attached Image (click to enlarge)
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  • #4,402
  • Mar 14, 2011 9:29am Mar 14, 2011 9:29am
Hi Coke. Here's my take on GU. Sold on basis of H1 formation.

Looking to TP around 1.6022.
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  • #4,403
  • Mar 14, 2011 9:37am Mar 14, 2011 9:37am
Quoting stevefx
Hi Coke. Here's my take on GU. Sold on basis of H1 formation.

Looking to TP around 1.6022.
Hello Steve, it might work. We'll find out soon as it is approcahing the confirmation line as retest. In my original Bearish setup I was looking to profit at the Left Shoulder level. (kind of a more conservative approach)
  • #4,404
  • Mar 14, 2011 9:44am Mar 14, 2011 9:44am
Quoting TheLastCoke
Hello Steve, it might work. We'll find out soon as it is approcahing the confirmation line as retest. In my original Bearish setup I was looking to profit at the Left Shoulder level. (kind of a more conservative approach)
Yes I see what you mean. H4 is going to move it up and I might settle for less here, but should be good for at least 60 pips. ()
  • #4,405
  • Mar 14, 2011 10:07am Mar 14, 2011 10:07am
Help Japan

https://www.paypal-donations.com/pp-...gn.jsp?cid=-12
  • #4,406
  • Mar 14, 2011 10:39am Mar 14, 2011 10:39am
AUD/NZD ''Trapped'' Between UTL and 23% Fib

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  • #4,407
  • Mar 14, 2011 10:53am Mar 14, 2011 10:53am
Quoting TheLastCoke
GBP/USD H&S is Confirmed, 61% Fib may be next stop

Attachment
GBP/USD Rejected at CL, in case the long was taken, it is time to set the SL to BE or +.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd hs2 fcs.gif Size: 31 KB
  • #4,408
  • Edited 11:35am Mar 14, 2011 11:11am | Edited 11:35am
Quoting TheLastCoke
EUR/USD SL to BE at TL Retest

Attachment
EUR/USD Reached setup technical target. (FCS closed it on Friday for +130)

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Click to Enlarge Name: eurusd fcs.gif Size: 23 KB
  • #4,409
  • Mar 14, 2011 11:22am Mar 14, 2011 11:22am
Quoting TheLastCoke
GBP/USD Rejected at CL, in case the long was taken, it is time to set the SL to BE or +.

Attachment
GBP/USD Tiem to give this gentle H&S a rest. It was rejected at previous top (yellow dotted line).

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd hs3 fcs.gif Size: 32 KB
  • #4,410
  • Mar 14, 2011 11:31am Mar 14, 2011 11:31am
Due to current circumstances in Japan, trading any Japanese Yen crosses is not recommended.

''The Bank of Japan pumped in a record 15 Trillion Yen ($183 Billion) into the economy as the nation’s strongest earthquake triggered a big drop in stocks as the Nikkei dropped 6.2% most since 2008, Topix dropped 7.5% while the Hang Seng gained 0.3% and Shanghai Composite was unchanged. BOJ Governor Shirakawa said that he is ready to unleash ‘massive’ liquidity to support markets when he spoke at today’s monetary policy meeting which was brought forward to tackle current issues.''

Source ACM Newsletter
  • #4,411
  • Mar 14, 2011 10:58pm Mar 14, 2011 10:58pm
The EURO may be getting ready for a bigger Bullish Rally.
The following table shows the strong positive correlation between those pairs in a Daily TF.

Attached Image (click to enlarge)
Click to Enlarge Name: Correlation Table.gif Size: 27 KB


EUR/AUD Is coming from an UTL channel retest and just broke previous top
#4399

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EUR/CAD Is currently testing a Major TL but the break of previous Resistance may favor the TL break

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EUR/GBP made an inverted H&S, pair found support at previous top (red level)

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp fcs.gif Size: 28 KB


EUR/NZD is currently testing the Major 23% fib (HH already made) after a retracement at previous Resistance that acted as support #4340

Attached Image (click to enlarge)
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EUR/USD A 23% Fib Retracement is usually made after a trend
continuation #4379

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If the positive correlation keeps on playing, the rest EUR/ pairs may follow EUR/AUD and EUR/NZD
  • #4,412
  • Mar 15, 2011 5:21am Mar 15, 2011 5:21am
Got drawn down a bit more than I would have liked on the GU trade, but it worked out.

This is a good spot to look for longs IMHO, right around 1.6.

I interpret its upward potential from the H4 as being around 1.62-ish.
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  • #4,413
  • Mar 15, 2011 5:25am Mar 15, 2011 5:25am
IMHO another possible turning point for EU.
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  • #4,414
  • Mar 15, 2011 7:02am Mar 15, 2011 7:02am
Quoting TheLastCoke
The EURO may be getting ready for a bigger Bullish Rally.
EUR/AUD Is coming from an UTL channel retest and just broke previous top

EUR/CAD Is currently testing a Major TL but the break of previous Resistance may favor the TL break

EUR/GBP made an inverted H&S, pair found support at previous top (red level)

EUR/NZD is currently testing the Major 23% fib (HH already made) after a retracement at previous Resistance that acted as support...
EUR/USD is the only left behind:

EUR/AUD Keeps on Bullish

Attached Image (click to enlarge)
Click to Enlarge Name: euraud fcs.gif Size: 26 KB


EUR/CAD Broke TL

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EUR/GBP Red level respected, upward move upto confirmation line

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EUR/NZD Keeps on Bullish

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EUR/USD Finding support at previous top. If pair is rejected, level at 1.4035 may be broken.

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Click to Enlarge Name: eurusd fcs.gif Size: 22 KB
  • #4,415
  • Mar 15, 2011 7:26am Mar 15, 2011 7:26am
EUR/CAD & EUR/NZD Making new highs
  • #4,416
  • Mar 15, 2011 7:53am Mar 15, 2011 7:53am
hi G.my first post.i agree with u eurusd still bullish.long at 3870 for 4003 target as long 3855 support hold...
Attached Image (click to enlarge)
Click to Enlarge Name: eu311.png Size: 41 KB
Gold Expedition Return This Year: -15.9%
  • #4,417
  • Mar 15, 2011 7:58am Mar 15, 2011 7:58am
Quoting budak baru
hi G.my first post.i agree with u eurusd still bullish.long at 3870 for 4003 target as long 3855 support hold...
EUR/USD Very high RRR, around 6.5:1, not a bad deal
  • #4,418
  • Mar 15, 2011 8:38am Mar 15, 2011 8:38am
Quoting longshot_nl
IMHO another possible turning point for EU.
i wanted to share this chart, i makes my bearishness a bit clearer.
even if this is a correction, this last wave should be more relevant in time.
I marked the corrections, the chart that isn't marked, is most probably impulsive.
just my oppinion..
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  • #4,419
  • Edited 3:35pm Mar 15, 2011 8:47am | Edited 3:35pm
Quoting TheLastCoke
EUR/USD is the only left behind:

EUR/USD Finding support at previous top. If pair is rejected, level at 1.4035 may be broken.

Attachment
EUR/USD 70 Pip Rejection so far

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90 Pip

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110 Pip

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150 Pip

Attached Image (click to enlarge)
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  • #4,420
  • Mar 15, 2011 11:50am Mar 15, 2011 11:50am
Quoting TheLastCoke
GBP/USD Nice Job Steve, spot on. You milked it both ways
Thanks Coke, sometime I get lucky...

Actually, Mladen, the guy who invented the TMA indicator deserves the credit. This indi has helped me a lot. All those lines on my charts are just multiple applications of the same indicator set at different measurements of standard deviation. It just helps me see the cycles and spot the overshoot areas.

Maybe some temporary rejection at 6095/99 area, but I would want to hold this long until 6140 min.
Attached File(s)
File Type: mq4 TMA.mq4   8 KB | 221 downloads
File Type: tpl 7tma.tpl   16 KB | 275 downloads
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