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Trades based on Market Geometry and Price Action

  • #2,221
  • Jul 15, 2011 11:58am Jul 15, 2011 11:58am
this is a mental game...
but next week, after the completion of this retracement, price will go up, strongly up...
we know all these insiders tricks
  • #2,222
  • Jul 15, 2011 12:34pm Jul 15, 2011 12:34pm
please, move stop loss on aud/usd to 1.0680 to protect some profits, and set the take profit at 1.0600
  • #2,223
  • Jul 15, 2011 1:33pm Jul 15, 2011 1:33pm
Quoting dailyking
this is a mental game...
but next week, after the completion of this retracement, price will go up, strongly up...
we know all these insiders tricks
Same, I'm expecting one more drive down, before a larger retracement up next week.
  • #2,224
  • Jul 15, 2011 2:08pm Jul 15, 2011 2:08pm
we are mapping eur/usd...that's good. i think this pair is good to trade
  • #2,225
  • Jul 15, 2011 2:11pm Jul 15, 2011 2:11pm
up +248 pips in total on my 3 aud/usd trades. not bad for a no-volume friday
  • #2,226
  • Jul 15, 2011 2:53pm Jul 15, 2011 2:53pm
Quoting dailyking
we are mapping eur/usd...that's good. i think this pair is good to trade
what is "mapping"?

and congrats on the AUD/USD trades!
good end to the week!
  • #2,227
  • Jul 15, 2011 2:55pm Jul 15, 2011 2:55pm
mapping the chart is reading the chart as a road map

thanks...
  • #2,228
  • Jul 15, 2011 3:40pm Jul 15, 2011 3:40pm
Quoting dailyking
mapping the chart is reading the chart as a road map
With "mapping" = "reading", I'm not clear on what you mean by your comment "that's good" regarding reading the EUR/USD. Does that perhaps mean is it good to read/study the charts, or does it perhaps mean something more specific such as that the charts are revealing particular patterns (Market Geometry and Price Action) that you look for? And if the latter, what patterns are you seeing in the "mapping" today that is good?

Thanks for your help and great calls.
  • #2,229
  • Jul 15, 2011 3:48pm Jul 15, 2011 3:48pm
mapping=reading the chart, understanding the behavior of the market,and not letting oneself be fooled by noise and insiders tricks...whatever insiders do, or whatever the market will show,there is a clear direction that appears.. if you learn for example the principle of highs and lows in the markets, you will see that,it is one of the law of the markets...
  • #2,230
  • Jul 15, 2011 4:05pm Jul 15, 2011 4:05pm
how many years have you been trading ?
  • #2,231
  • Jul 15, 2011 4:31pm Jul 15, 2011 4:31pm
I've been trading off and on for a couple decades, predominately options on the major stock indicies. Last couple of years I've been doing forex too. Now planning to make forex a regular part of my trading. Need strategies that don't require being available all the time, preferably as little time as possible at regular times. Index option trading has met that need for me, and I think forex strategies such as yours can also fit my needs. Your trading calls are impressive! I'm just not sure how or how long to learn what you do. Any suggestions of what to read and do?

Thanks again for your great calls and help.
  • #2,232
  • Jul 15, 2011 4:31pm Jul 15, 2011 4:31pm
Quoting pipster42
With "mapping" = "reading", I'm not clear on what you mean by your comment "that's good" regarding reading the EUR/USD. Does that perhaps mean is it good to read/study the charts, or does it perhaps mean something more specific such as that the charts are revealing particular patterns (Market Geometry and Price Action) that you look for? And if the latter, what patterns are you seeing in the "mapping" today that is good?

Thanks for your help and great calls.
i suggest you take a look at babypips.com and go through the grades there...just trying to help
  • #2,233
  • Jul 15, 2011 4:38pm Jul 15, 2011 4:38pm
i will recommend you to read the book by stephen bigalow:
profitable candlesticks trading. but you can start by this one 12 signals to master any market...

http://www.optionsprofit.net/images/...%20Signals.pdf

also, read Larry Pesavento: trade what you see

great knowledge to get from these 2 books
  • #2,234
  • Jul 15, 2011 4:54pm Jul 15, 2011 4:54pm
Quoting Kas1
i suggest you take a look at babypips.com and go through the grades there...just trying to help
thanks. baby steps to pips suit me fine!
  • #2,235
  • Jul 15, 2011 4:59pm Jul 15, 2011 4:59pm
Quoting dailyking
i will recommend you to read the book by stephen bigalow:
profitable candlesticks trading. but you can start by this one 12 signals to master any market...

http://www.optionsprofit.net/images/...%20Signals.pdf

also, read Larry Pesavento: trade what you see

great knowledge to get from these 2 books
Thanks. Those will be on top of my reading list. If you think they're good, they must be great!

To all - Have a Great Weekend!
  • #2,236
  • Jul 15, 2011 5:27pm Jul 15, 2011 5:27pm
thank to you too..have a great week end too
  • #2,237
  • Jul 16, 2011 9:51am Jul 16, 2011 9:51am
eur/usd is showing a small bullish movement in the overall down trend...a good retracement next week, will be surely followed by an up move...
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd.gif Size: 16 KB
  • #2,238
  • Jul 16, 2011 9:54am Jul 16, 2011 9:54am
the 4 hr chart is more expressive, and give a good idea of price movement
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd.gif Size: 17 KB
  • #2,239
  • Jul 16, 2011 10:01am Jul 16, 2011 10:01am
gbp/usd is also in the same configuration...a retracement is in the making before a reversal. i suspect this reversal to turn back up and break the down trend line
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.usd.gif Size: 18 KB
  • #2,240
  • Jul 16, 2011 10:04am Jul 16, 2011 10:04am
4 hr is clear enough...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.usd.gif Size: 17 KB
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