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Trades based on Market Geometry and Price Action

  • #921
  • Jun 18, 2011 5:47pm Jun 18, 2011 5:47pm
yes usd/chf is ready for sellers.. but you need to fine tune your entry point waiting for a retracement on a 4hr time frame. don't take any trade tomorrow before 9 pm, the close of the 1st 4hr candle.

wait for a retracement in the retracement channel or a break of friday's low .
look at the chf/yen, and usd/yen they are good set up too.
a retracement on the usd/chf around 0.8526 will be a perfect entry point...

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: usd.chf.gif Size: 15 KB
  • #922
  • Jun 18, 2011 6:20pm Jun 18, 2011 6:20pm
i'm heading out...have a good evening
  • #923
  • Jun 18, 2011 7:45pm Jun 18, 2011 7:45pm
i dont think our brokers open at the same time each week, mine is 3pm pst...not every broker has identical data
  • #924
  • Jun 18, 2011 8:12pm Jun 18, 2011 8:12pm
i use eastern standard time
  • #925
  • Jun 18, 2011 11:37pm Jun 18, 2011 11:37pm
Quoting Kas1
i dont think our brokers open at the same time each week, mine is 3pm pst...not every broker has identical data

What is your closing price on GBPUSD? I've got 16177 on one platform and 16189 on the other!
  • #926
  • Jun 18, 2011 11:54pm Jun 18, 2011 11:54pm
Quoting dailyking
yes usd/chf is ready for sellers.. but you need to fine tune your entry point waiting for a retracement on a 4hr time frame. don't take any trade tomorrow before 9 pm, the close of the 1st 4hr candle.

wait for a retracement in the retracement channel or a break of friday's low .
look at the chf/yen, and usd/yen they are good set up too.
a retracement on the usd/chf around 0.8526 will be a perfect entry point...

cheers
Just looking at the 4hr chart on USDCHF maybe caution is warranted? Looking at the RSI another possible move upwards as we've bounced off the 50 level. Don't know if I'm right - time will tell!

rgds
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4hr.gif Size: 23 KB
  • #927
  • Jun 19, 2011 12:02am Jun 19, 2011 12:02am
Quoting dailyking
short term opportunity on the chf/jpy chart. the weekly chart is showing a bearish turn, supported by the 4 hr chart. now, what we have to do is to wait patiently for the retracement, and enter the trade.
no rush needed here. Because, if you are right, and too early in your trade, the you aill be wrong....

cheers
Crystal clear and simple analysis as allways .
I always tend to image too much and complicate stuff , but you always seem to correct me .

I love the weekends, thinking about those pips that are coming ,,, forget about those that are leaving .
  • #928
  • Jun 19, 2011 12:28am Jun 19, 2011 12:28am
Quoting jmtini
What is your closing price on GBPUSD? I've got 16177 on one platform and 16189 on the other!
161914 is mine...almost all change their spreads differently, even alpari uk and alpari us prices on are slightly different
  • #929
  • Jun 19, 2011 4:57am Jun 19, 2011 4:57am
my closing price on gbp/usd is 1.6191 with forex ltd and 1.61779 with fxdd. but i think, they will adjust it...
  • #930
  • Jun 19, 2011 5:39am Jun 19, 2011 5:39am
thats why i think its good to have a couple confirmation indicators, because not everybody is looking at the same thing

here is uj i think there may be buyers at the beginning of the week
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 33 KB
  • #931
  • Jun 19, 2011 6:20am Jun 19, 2011 6:20am
I like to trade levels but look at market geometry too.
Here's what I see in eurusd
http://i.imgur.com/twXHC.png
  • #932
  • Jun 19, 2011 6:43am Jun 19, 2011 6:43am
it's possible. but these buyers must know that there are playing against the trend...when knowing that, you can successfully scalp for profits
  • #933
  • Jun 19, 2011 9:05am Jun 19, 2011 9:05am
us ca looks like its ready to move down for a bit as well...i guess this is another one where you need to be aware you may be going against the prevailing trend
Attached Image (click to enlarge)
Click to Enlarge Name: usca.gif Size: 33 KB
  • #934
  • Jun 19, 2011 9:06am Jun 19, 2011 9:06am
usd/yen and gbp/yen are showing strong signals to the downside. As usual, in this case, we have to wait for the retracement and then enter the trade in the direction of the trend. nice set up to come this week. the Japanese yen is definitely strong

Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd.yen.gif Size: 27 KB
Click to Enlarge Name: gbp.yen.gif Size: 17 KB
  • #935
  • Jun 19, 2011 8:01pm Jun 19, 2011 8:01pm
tonight, i will buy euro...i will buy eur/usd, eur/gbp, and eur/cad in case it confirm the signal
  • #936
  • Jun 19, 2011 8:12pm Jun 19, 2011 8:12pm
Quoting dailyking
tonight, i will buy euro...i will buy eur/usd, eur/gbp, and eur/cad in case it confirm the signal
no ej?...bought gu and sold us ch already...at 142286 might long eu
  • #937
  • Jun 19, 2011 8:39pm Jun 19, 2011 8:39pm
i don't like the eur/yen set up
  • #938
  • Jun 19, 2011 8:47pm Jun 19, 2011 8:47pm
buy eur/cad at 1.4025 sl=1.3980 tp=1.4073
Attached Image (click to enlarge)
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  • #939
  • Jun 19, 2011 8:52pm Jun 19, 2011 8:52pm
buy eur/usd at 1.4284 sl=1.4250 tp=1.4380
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd.gif Size: 16 KB
  • #940
  • Jun 19, 2011 9:02pm Jun 19, 2011 9:02pm
just bought eur/gbp now at 0.8837 sl=0.8820 tp=0.8865

sorry the stop is 0.8820
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