Circular Trendlines | Page 24 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Circular Trend-Waves 414 replies

How do I change the color of trendlines? 2 replies

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Recommend an ebook on trendlines.... 10 replies

Short trendlines 7 replies

Attachments: Circular Trendlines
Exit Attachments

Circular Trendlines

  • #461
  • Jun 27, 2011 12:10pm Jun 27, 2011 12:10pm
I like your strategy. Its very reasonable and good. I am on a buy with multiple lots at

4135, 4185 and 4215.

Stoploss to entry on all of them, and planning to get out at 4340.

I dont see this pair making any strong move downwards within the next 24-36 hours

Also all retracements have been 88.6

The drop from 4694 did retrace 88.6% of the rise from 3975
The next drop from 4443 retraced 88.6 of the rise from 4050

Quoting TraderFitz
Got my 10 and 20 sell. Moved SL to BE we will see if I get another 10 for my 30.
  • #462
  • Jun 27, 2011 12:19pm Jun 27, 2011 12:19pm
It is still respecting the south pole of the black circle at 1.4300
Attached Image (click to enlarge)
Click to Enlarge Name: June 27 2011 1HR.JPG Size: 158 KB
  • #463
  • Jun 27, 2011 12:27pm Jun 27, 2011 12:27pm
Yes, you are right, and I am watching it closely on M1

But the behaviour when it tries to break one of these poles is numerous small attempts or just a hanging around the area and being slightly rangebound.

Suddenly a spike will come and then it will get inside the circle, and does a bit of back and forth until the second thrust comes and the circle is broken for good.




Quoting TraderFitz
It is still respecting the south pole of the black circle at 1.4300
  • #464
  • Jun 27, 2011 12:36pm Jun 27, 2011 12:36pm
Here is what I am seeing on the 15M. What do you think?


It is the south pole of the black circle and the north pole of the red circle. That is why it has absorbed both big moves upward.
Attached Image (click to enlarge)
Click to Enlarge Name: June 27 2011 15M.JPG Size: 154 KB
  • #465
  • Jun 27, 2011 1:19pm Jun 27, 2011 1:19pm
Yes, this is very tricky, and in most instances takes a while for things to clear up, but if you notice on the black circle its very close to the spot where the sout pole looses a bit of strength along the perimeter, and blends in to the right side of the perimeter,

AND as long as it can make few attempts to climb on your red circle, then that might be all that is needed to use the red curve as support and generate power to clear the south pole of your black one.


Quoting TraderFitz
Here is what I am seeing on the 15M. What do you think?


It is the south pole of the black circle and the north pole of the red circle. That is why it has absorbed both big moves upward.
  • #466
  • Jun 27, 2011 1:24pm Jun 27, 2011 1:24pm
On the M1 this is what I see, and there is a struggle along the boundaries for either side to find a gap.

Same as what you are concluding, just a different view.


Quoting TraderFitz
Here is what I am seeing on the 15M. What do you think?


It is the south pole of the black circle and the north pole of the red circle. That is why it has absorbed both big moves upward.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M1.jpg Size: 49 KB
  • #467
  • Jun 27, 2011 1:28pm Jun 27, 2011 1:28pm
Quoting Kambooj
Yes, this is very tricky, and in most instances takes a while for things to clear up, but if you notice on the black circle its very close to the spot where the sout pole looses a bit of strength along the perimeter, and blends in to the right side of the perimeter,

AND as long as it can make few attempts to climb on your red circle, then that might be all that is needed to use the red curve as support and generate power to clear the south pole of your black one.

Yep, it is fun to discuss it. It helps me learn. What did you think about the red circle? Is it a legit circle?
  • #468
  • Jun 27, 2011 1:35pm Jun 27, 2011 1:35pm
You can have the Legit circles, which contain motion within a eye or a crescent shape, but at the same time you can draw temporary curves which show resistance / support on either sides. So right now we might not know that the upward or maybe downward motion will be part of what future EYE or CRESCENT shape and if the curve that you have drawn is all we have

then I say yes it is legit for now and later it might change, which probably it would


Quoting TraderFitz
Yep, it is fun to discuss it. It helps me learn. What did you think about the red circle? Is it a legit circle?
  • #469
  • Jun 27, 2011 1:37pm Jun 27, 2011 1:37pm
Your red circle is very interesting, because off the left side of the pole it got broken real hard and suddenly at the pole was a major resistance.

Usually its gradual along the perimeter, but here is a variation

Nice chart

Quoting TraderFitz
Here is what I am seeing on the 15M. What do you think?


It is the south pole of the black circle and the north pole of the red circle. That is why it has absorbed both big moves upward.
  • #470
  • Jun 27, 2011 2:14pm Jun 27, 2011 2:14pm
Quoting Kambooj
Your red circle is very interesting, because off the left side of the pole it got broken real hard and suddenly at the pole was a major resistance.

Usually its gradual along the perimeter, but here is a variation

Nice chart

Couple more circles
Attached Image (click to enlarge)
Click to Enlarge Name: June 27 2011 15M.JPG Size: 170 KB
  • #471
  • Jun 27, 2011 2:36pm Jun 27, 2011 2:36pm
Yes, its really trying to push through the one where motion is going from the perimeter to perimeter
Quoting TraderFitz
Couple more circles
  • #472
  • Jun 27, 2011 2:47pm Jun 27, 2011 2:47pm
Quoting Kambooj
Yes, its really trying to push through the one where motion is going from the perimeter to perimeter
It did push through the green and black circle in the last 15 min.
  • #473
  • Jun 27, 2011 2:58pm Jun 27, 2011 2:58pm
Yes, and thats the initial stages, still waiting for the spike
Quoting TraderFitz
It did push through the green and black circle in the last 15 min.
  • #474
  • Jun 27, 2011 6:55pm Jun 27, 2011 6:55pm
Quoting Kambooj
Yes, and thats the initial stages, still waiting for the spike
Looking at the graph, the red line will be penetrated (target 1.4445) but blue line act as a strong wall and force is downwards!
There is always a price for promises you don't keep!
  • #475
  • Jun 27, 2011 7:09pm Jun 27, 2011 7:09pm
Yes, and on the hourly (http://www.forexfactory.com/showthre...6#post4729416)

it can go a bit higher to 4500. We will have to see what its gonna do by the time the EUR session opens
Quoting DragonFire
Looking at the graph, the red line will be penetrated (target 1.4445) but blue line act as a strong wall and force is downwards!
  • #476
  • Jun 27, 2011 11:07pm Jun 27, 2011 11:07pm
H1
The EUR was able to get a touch to the green circle from the low of 4100, but still there is not enough sustanance to be able to hold itself inside the circle and climb upwards. If it can maintain 4280-4290 support level, then there is a chance to go upwards to 4460-4500 zone, otherwise there is a missing circle, pink in color on the H1 chart that could support a drop to 4230-4240 region. So in this case we have to prepare for another buy at 4240 region.

M5
The M5 and M15 chart are creating the most creative opportunities for circle drawing. If the dotted red circle cant sustain itself, then the first level of support is anywhere in between 4230-4240 (the black circle on the right hand side), and below that would be 4190 region (The Solid Red Circle)

Either spots are good buy position. The area of the circle where the motion might hit in one case is to the left of the pole of the black circle, and in another case is to the right of the pole of the red circle, both areas have enough intensity to repel the motion upwards. One circle could sustain a blow, while the next line of defense (the red solid circle) could turn the motion upwards.

Price action is still not poised for a reversal until 4460-4500 level is reached. So we are still in a buy situation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 93 KB
Click to Enlarge Name: EURUSD_M5.JPG Size: 146 KB
  • #477
  • Jun 28, 2011 8:54am Jun 28, 2011 8:54am
H1
Today is going to be a tough trading day. The major move seems to be going more downwards towards 4140 region again. This is due to the barrel roll effect exhibited by the upper black and green circles. This pair at the moment could not generate enough momentum from 4240 to go through the green circle shown towards 4500, and is destined to drop lower. This is further shown by the dotted black band of resistance.

M5
There is a lot of agitation specially at the poles between the 2 strong black curves. This is further complicated by the push of the 2 blue circles. A strong thrust must be generated either way, but due to the high resistance band on the H1 time frame, there is more inclination towards a downward break than a upward break. However false breaks can occur and we might go as high as 4360 before the final drop happens.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD_H1.jpg Size: 78 KB
Click to Enlarge Name: EURUSD_M5.jpg Size: 78 KB
  • #478
  • Jun 28, 2011 9:00am Jun 28, 2011 9:00am
Today would be a good day to see whether a max would be hit around the 10:15 AM -12:00 PM EST time frame. Although trading will be choppy, but I suspect because the market does not have enough more room to go upwards, we could be seeing 4340-4350 region being hit during that time, which could be a good sell opportunity. By the time Trichet speaks at 2:45 we should be in the 4260-4270 region.
  • #479
  • Jun 28, 2011 10:18am Jun 28, 2011 10:18am
Quoting Kambooj
Today would be a good day to see whether a max would be hit around the 10:15 AM -12:00 PM EST time frame. Although trading will be choppy, but I suspect because the market does not have enough more room to go upwards, we could be seeing 4340-4350 region being hit during that time, which could be a good sell opportunity. By the time Trichet speaks at 2:45 we should be in the 4260-4270 region.

So, now that it hit 1.44 it dropped back down but appears to be building again
  • #480
  • Jun 28, 2011 10:22am Jun 28, 2011 10:22am
Quoting TraderFitz
So, now that it hit 1.44 it dropped back down but appears to be building again


Well never mind. I shorted at 1.4350 and then reloaded again at 1.4365
2 traders viewing now