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Pitchfork Goldmine!

  • #1,821
  • Jun 22, 2011 12:27pm Jun 22, 2011 12:27pm
Cad-Jpy continued...

Didn't get back in. Oh well..

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,822
  • Jun 22, 2011 12:36pm Jun 22, 2011 12:36pm
Quoting TraderMeir
Donna, we went right into the energy point, however, I do not see good enough separation to take a trade of of it yet. I am going to give it another bar.
I see what you mean. As Tim would say..."Buy another bar".

Price is approaching an SH on my H4 view...around 82.62. If price can break and hold above it, then maybe it will go to the ML of an upward sloping fork I have there.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,823
  • Jun 22, 2011 12:40pm Jun 22, 2011 12:40pm
There is something about the CAD/JPY that is making me think that it's going to roll over. I see your chart and I like the sliding parallel below, but I am going to just watch for now and see if price tells me anything regarding the Schiff.
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  • #1,824
  • Jun 22, 2011 12:52pm Jun 22, 2011 12:52pm
Quoting TraderMeir
There is something about the CAD/JPY that is making me think that it's going to roll over. I see your chart and I like the sliding parallel below, but I am going to just watch for now and see if price tells me anything regarding the Schiff.
Certainly wouldn't hurt to watch and be cautious. Wise trading. Nearing resistance...your Schiff, my SH on H4 and resistance on H1. Either sellers get on or the bulls gear up and blast through.

Time will tell,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,825
  • Jun 22, 2011 1:05pm Jun 22, 2011 1:05pm
I think we can see the drama unfolding now as the market battles this one.

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,826
  • Jun 22, 2011 1:11pm Jun 22, 2011 1:11pm
What does SH stand for?
  • #1,827
  • Jun 22, 2011 1:14pm Jun 22, 2011 1:14pm
While we wait out the battle (which I think we are at a Balance Line), thought I would throw up another chart I am watching. Waiting to see a return to the lower median line parallel.
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  • #1,828
  • Jun 22, 2011 1:16pm Jun 22, 2011 1:16pm
Quoting TraderMeir
What does SH stand for?
SH = Sliding Parallel. These are symbols Andrews used. I have a glossary of them and any others I use on the blog.

Btw, how many pairs do you watch?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,829
  • Jun 22, 2011 1:37pm Jun 22, 2011 1:37pm
about 14. but any given day it's probably about 4-5. In my morning routine I go over a bunch and see which one might be setting something up or are acting in some tradeable manner.
  • #1,830
  • Jun 22, 2011 1:41pm Jun 22, 2011 1:41pm
Quoting FX4Newbies
SH = Sliding Parallel. These are symbols Andrews used. I have a glossary of them and any others I use on the blog.

Btw, how many pairs do you watch?

FX4

How many do you watch?

(Oh, and I woudl keep an eye on AUD/USD, it looks like it might finally be setting something up - though I hate taking trades this late in the day.)
  • #1,831
  • Jun 22, 2011 1:42pm Jun 22, 2011 1:42pm
Quoting TraderMeir
about 14. but any given day it's probably about 4-5. In my morning routine I go over a bunch and see which one might be setting something up or are acting in some tradeable manner.
Okay. I actually watch 15 plus Xau-Usd and Xag-Usd. I post 10 plus the metals on the blog. Don't watch the Aud-Cad though. I use a worksheet to find the ones that look promising...or at least that is my daily plan.

Don't like getting in now either....dead zone sometimes.

Back to Cad-Jpy...won't even count the pips (no crying over spilled milk...or missed pips). You trade and learn, right? There's always another.

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,832
  • Jun 22, 2011 1:51pm Jun 22, 2011 1:51pm
Cad-Jpy looks like it is going to pop again. Tempted to jump in...you know how that psychology works LOL.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,833
  • Jun 22, 2011 1:58pm Jun 22, 2011 1:58pm
Short at 0.83860

http://img543.imageshack.us/img543/3773/captureyh.png
What is any ocean but a multitude of drops?
  • #1,834
  • Jun 22, 2011 2:01pm Jun 22, 2011 2:01pm
Quoting FX4Newbies
Cad-Jpy looks like it is going to pop again. Tempted to jump in...you know how that psychology works LOL.

FX4
yep, I am quite familiar with it. I have been sitting here most of the day just watching (that can be extremely frustrating, feeling that you're missing everything), but I would like a nice clear signal. Perhaps a re-test on the WL?
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  • #1,835
  • Jun 22, 2011 2:13pm Jun 22, 2011 2:13pm
Quoting Xhale12
Short at 0.83860

http://img543.imageshack.us/img543/3773/captureyh.png
A tricky sell for me. Not too convinced at the moment.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,836
  • Edited 2:53pm Jun 22, 2011 2:18pm | Edited 2:53pm
Well, I have to admit, I traded the pop LOLOLOL. Got the bottom of the barrel...+few pips LOLOLOL, but I don't feel as bad. At least I wasn't just going on emotion: I had an entry that I would have traded and I knew I would not be there too long. Probably setting up to go again, but I think I'll pass. Don't want to be slammed into some Big Boy's pending sell order. At this point I prefer to start afresh.

Taking a break now so I can begin my afternoon routine.

All the best,

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,837
  • Jun 22, 2011 2:27pm Jun 22, 2011 2:27pm
Quoting FX4Newbies
A tricky sell for me. Not too convinced at the moment.

FX4
Yea I got stopped out. Damn I need more patience.
What is any ocean but a multitude of drops?
  • #1,838
  • Edited 3:12pm Jun 22, 2011 2:34pm | Edited 3:12pm
Quoting Xhale12
Yea I got stopped out. Damn I need more patience.
We all have our days when we do stuff we don't like...and we see it after the fact (sometimes even before, and we still do it anyway ). I'm getting better at graciously bowing out and getting back on track and standing in queue patiently for the next one.

From my eyes to yours...

Just put this together when I saw your post. Seeing possible bullish on H4, and possible bearish setting up on H1. Proper timing is going to need patience...and an open mind, whichever way the market decides to go. It WILL tell you.

By the way, the green dashed fork "should have been" an upward fork, based on the alternating sequence of the pivots. Maybe its a tell. There are ways to make modifications, but I will leave it at that here.

Okay, I'm out now. Want to get some reading done today. Will check in later on.

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,839
  • Jun 22, 2011 3:04pm Jun 22, 2011 3:04pm
This red fork gets a decent touch...see blue arrow. Not too much different overall.

Okay, I'm gone now.

FX4
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Trade what you see, not what you think or feel. Let the market come to you.
  • #1,840
  • Jun 22, 2011 7:56pm Jun 22, 2011 7:56pm
Long at 82.530

http://img861.imageshack.us/img861/5598/capturebv.png
What is any ocean but a multitude of drops?
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