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  • #435,441
  • May 4, 2011 2:03pm May 4, 2011 2:03pm
Quoting PipChick
About HS patterns...and I dont give a horses patoot what the freaking internet says. All I can is what I have witnessed for yrs. Anyways, about the HS patterns... "USUALLY" when we are in a strong uptrend and a smaller TF chart such as the m30 to the m5 develops a HS to the downside, they usually do not complete and you get faked out..AKA LOSE PIPS. But...USUALLY when we are in a strong uptrend (as we are seeing with the EU) and price forms an invers HS, it is usually good for some nice pips and completes. Now.... lets say right now the eu daily...
I find that H&S patterns do tend to work better on the lower timeframes, but that does not mean they don't work on the higher timeframes. If you trade patterns with great success then fair play to you. There are many different ways to skin a cat!
  • #435,442
  • May 4, 2011 2:04pm May 4, 2011 2:04pm
Quoting PipChick
Now.... lets say right now the eu daily decides to form a HS over the next few weeks, then there is a very good chance the trend will change as that HS that forms at the TOP OF A TREND plays out.

Something has to end the trend doesnt it?
true indeed. Top of the trend obviously has under it some level of support, which would make the neckline.
we could be laying right now on the neckline, as 4880 proved to be strong,
head @ 5100, back at 4880 for a week and off to the beach. Or to ski along Yeti.
  • #435,443
  • May 4, 2011 2:04pm May 4, 2011 2:04pm
Quoting AllyB
sure was eagle eye!...
Nice trading! If you can consistently average 30-40/day , you can start compounding some of the profits and trade 2 separate accounts with a different risk profile......all in time
" Never let the past hold the future to ransom "
  • #435,444
  • May 4, 2011 2:04pm May 4, 2011 2:04pm
Quoting bbakker
I find that H&S patterns do tend to work better on the lower timeframes, but that does not mean they don't work on the higher timeframes. If you trade patterns with great success then fair play to you. There are many different ways to skin a cat!
Very true and none of us can see exactly what another trader can see. We all have different brains.We just have to trade what WE OURSELVES see.
  • #435,445
  • May 4, 2011 2:05pm May 4, 2011 2:05pm
Quoting PipChick
For instance ...yesterday I posted several charts of the m15. So many in fact that I got sick of seeing them myself. But to expand more on t=the HS patterns...the h1 had traded the range for days..some people just push buy every time it hits the bottom, taking the chance that it will go right thru the bottom, but some people like myself, waited for a smaller tf to form a inverse head and shoulder pattern near the bottom of the range. That allow for extra confirmation. So the pattern took the pair back to the top. But...I was trading the inverse...
Right. It is finding which ones will have a higher probability of success and that can only be done through years of screen time and experience.
  • #435,446
  • May 4, 2011 2:06pm May 4, 2011 2:06pm
Quoting bbakker
Right. It is finding which ones will have a higher probability of success and that can only be done through years of screen time and experience.
Right
  • #435,447
  • May 4, 2011 2:06pm May 4, 2011 2:06pm
Quoting PipChick
About HS patterns...and I dont give a horses patoot what the freaking internet says. All I can is what I have witnessed for yrs. Anyways, about the HS patterns... "USUALLY" when we are in a strong uptrend and a smaller TF chart such as the m30 to the m5 develops a HS to the downside, they usually do not complete and you get faked out..AKA LOSE PIPS. But...USUALLY when we are in a strong uptrend (as we are seeing with the EU) and price forms an invers HS, it is usually good for some nice pips and completes. Now.... lets say right now the eu daily...

Totally agree ,

They are great for confirming tops in uptrend and bottoms in downtrend .

The rest of them are not worth a carrot.
making green pips large and red pips small this is my goal.
  • #435,448
  • May 4, 2011 2:06pm May 4, 2011 2:06pm
Quoting pipper
Darn H&S


Its done now and we are going down ' usd will gain from this week ' a 1 year TL is on the way blocking eu from getting higher ' so be ready guys its show time for usd ' anyways ecb conference will start the proccedings for usd and i will post some strong reasons and with help of some chart ' in some time and let you know why i said the above words "
finding A M S
  • #435,449
  • May 4, 2011 2:11pm May 4, 2011 2:11pm
United 1 up in Champions League... Barca vs ManU.... nice
Disclaimer: Check your 1m charts
  • #435,450
  • May 4, 2011 2:12pm May 4, 2011 2:12pm
Quoting PayTheLimit
Indeed..., glad to see you killed today...nice...
Quoting Venice


Cheers!
thanks PTL ... considering i just watched and didn't make a trade all day yesterday this got me back on track.

i think we should join him Venice!

Cheers!
  • #435,451
  • May 4, 2011 2:13pm May 4, 2011 2:13pm
Come on baby.

And this is the top for now lol.

Only jokin am short anyhow I will be closing soon .

Attached Image (click to enlarge)
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making green pips large and red pips small this is my goal.
  • #435,452
  • May 4, 2011 2:14pm May 4, 2011 2:14pm
u were looking at a long ABCD to 1.50 or so.

i am looking at ABCD on the 30 that points to 1.4790.

one of us will be right! LOL

how was your day?

mine was (and is) fine but got a little worried at the top. but that's me: some see targets on cycles, i see entries

Quoting PipChick
Very true and none of us can see exactly what another trader can see. We all have different brains.We just have to trade what WE OURSELVES see.
dreams do come true.
  • #435,453
  • May 4, 2011 2:15pm May 4, 2011 2:15pm
Don't know about that... Remember Sarkozy, the French President said investors who bet against the euro will get their fingers burned. 1.50+ at least

Quoting prashant7
Its done now and we are going down ' usd will gain from this week ' a 1 year TL is on the way blocking eu from getting higher ' so be ready guys its show time for usd ' anyways ecb conference will start the proccedings for usd and i will post some strong reasons and with help of some chart ' in some time and let you know why i said the above words "
Disclaimer: Check your 1m charts
  • #435,454
  • May 4, 2011 2:17pm May 4, 2011 2:17pm
Quoting Gleneagles
Nice trading! If you can consistently average 30-40/day , you can start compounding some of the profits and trade 2 separate accounts with a different risk profile......all in time
3 x 12 = 36 that will work

piece of cake
  • #435,455
  • May 4, 2011 2:19pm May 4, 2011 2:19pm
Quoting pipper
United 1 up in Champions League... Barca vs ManU.... nice
Make that 2-1... 4-1 agg
  • #435,456
  • May 4, 2011 2:21pm May 4, 2011 2:21pm
Quoting wannaberich
u were looking at a long ABCD to 1.50 or so.

i am looking at ABCD on the 30 that points to 1.4790.

one of us will be right! LOL

how was your day?

mine was (and is) fine but got a little worried at the top. but that's me: some see targets on cycles, i see entries
Hey wannaberich..You see an abc short on the m30 and I see an abc long on the m30..lol But yes, this time of day, either could play out but..there is bullish hidden divergence . I also see this tl on the daily so I would be afraid to A) go against the trend and B) have a supporting TL in my way. Its just about risk tho for me
Attached Image (click to enlarge)
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  • #435,457
  • May 4, 2011 2:22pm May 4, 2011 2:22pm
Still awaiting a break of one of these levels....hope its worth the wait...
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Click to Enlarge Name: chart 1.gif Size: 16 KB
Look Sharp/Trade Tight
  • #435,458
  • May 4, 2011 2:23pm May 4, 2011 2:23pm
Quoting pipper
Don't know about that... Remember Sarkozy, the French President said investors who bet against the euro will get their fingers burned. 1.50+ at least

but thats a statement from a patriotic person and we all know ' a thing which goes up must come down ' an euro with a value of 1.5 $ has and can come down little bit ' i am not against euro ' just suggesting to beware of longing euro from here as technicals doesn't support anymore highs ' let me post some really supportive charts then based on that we can discuss more
finding A M S
  • #435,459
  • May 4, 2011 2:25pm May 4, 2011 2:25pm
I think they will push it past 1.50.. If they don't, then it will be a long way down imo

Quoting prashant7
but thats a statement from a patriotic person and we all know ' a thing which goes up must come down ' an euro with a value of 1.5 $ has and can come down little bit ' i am not against euro ' just suggesting to beware of longing euro from here as technicals doesn't support anymore highs ' let me post some really supportive charts then based on that we can discuss more
Disclaimer: Check your 1m charts
  • #435,460
  • May 4, 2011 2:26pm May 4, 2011 2:26pm
Here is the h4 chart:
So will we go back to the bottom of the bull flag tl? We could but I wont short into it because of the bullish hidden divergence and the daily TL. It "could " be a fake out. But if it isnt and it goes to the bottom, I will be watching for a signal to buy down there.
Attached Image (click to enlarge)
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