Trades based on Market Geometry and Price Action

the aud/usd also has a good down pattern. i will post chart tomorrow after the analysis. but it looks like it is the best one of the best charts for the coming week...

Hi all

My chart shows possible retracement up to 16280/16300 and RSI is oversold so possible up to 50 level there too. Watch Euro too for possible up move over coming few days.

rgds

i do agree with this possible retracement. the market will do it obviously.
regarding the eur/usd, i expect the same movement. retrace back up before going down till at least the strong support in yellow...And then, we will have to see what it will tell us.

cheers

here is my idea for fractal swings on eu chart

if the first is close higher then the last y bars then there is a new low point/support within the last y bars
or
if the first is close lower then the last y bars then there is a new high point/resistance in the last y bars

for this chart i chose 16 bars, so every point with an x on the chart is the high/low point of where price first moved higher/lower then the last 16 bars

the gold lines are the s/r levels the x points created
you can see price has broken through downwards, with an x on a high point below 14450 and is approaching old resistance turned support at 143062

i would wait for a pull back to 14450 to look for any shorts...either that or short below 143062

the flaw is that the high/low points may lag, but i think its good for analyzing where the latest swings were

might seem complicated to some but i think its really just a quantified way of looking at it. The original fractal indicator doesn't change on close, it will pop up mid bar, which i never liked

i dont use it right now but i think it could be a good addition
...long post i know

that's good Kas. i guess, it's this strategy you used to get earlier in your short. quite interesting. i will into it...

its similar...im using something different to plot s/r right now...the eu chart was just an example of how to draw s/r with what i call close fractals and use the high/low points to identify the current swing...but i use the same principal for the s/r, break below a level, look for shorts, break above, look for longs...ideally i would like those x points drawn in automatically so i don't have to keep doing it manually but i guess on a longer term chart it wont be as much of a bother

yes i think...but even automatically drawn, it won't be as perfect as you wished...

yeh might have a problem with waiting for it to complete the close so the x can be drawn on the high/low point, by that time the move could be done...never tried it, just been on my mind

ok

i have just shorted gold at 1,531.05 sl =1555 tp1=1,475.00 tp2=1,425.00

the Australian dollar has also confirmed its down trend...like the eur/usd. i think this wek will see the euro weakening against major pairs..all euro set up are bearish. (eur/usd, eur/gbp, eur/yen) . And this situation is reinforced by the dollar index which is gaining in strength with this beautiful weekly engulfing reversal candle....

just a little bit of patience to wait for retracement, and enter these trades...

cheers

was stopped out on my uj trade, ah well

i don't like too much this currency....

howcome you dont like uj? what ones do you prefer?

other majors, and some crosses like eur/gbp and gbp/chf..these pairs i understand their behavior, but not the uj

i see...looks like nzus and nzjp are moving down pretty nicely, what do you think? tryn to find an entry on nzus

yes you are right...nzd/usd has started a nice down move. this week will be quite interesting and easy to make pips, since patterns are so clears and obvious...

the nzd/yen is also on a down trend...but i recommend you to wait for a nice break-retrace before entering the trade...

no movement tonight. may be 5 am will bring something in...

hi, whats up?? ur not trading today??? cant see any quotes from u