High velocity trading

out of USDCAD closing manually with +3, I don't like the PA now.

Here's why I don't like it!

USDX H4 EW analysis

http://img820.imageshack.us/img820/2963/usdx240ew.png

And here's the USD CAD H4 EW

http://img222.imageshack.us/img222/2130/usdcadh4ew.png

ok so now USDCAD is going lower, GU and GJ are going higher and that's just to reinforce that trading is first of all a patience game.

Today I ran out of patience and prolly halfed my profit points in half,

Though we live to fight another day.

New trade setups for today

GU short sell @ 6257 if 6260-6280 is taken out TP + 100 SL 20

AUDUSD short sell @ 0557 - reason - PA rejected @ WP (cancel if PA takes on WP @ 0616). SL 20 TP 100.

GBP CAD short sell @ 5857 SL 20 TP 5690. cancel if PA stalls @ 5880.

EU short sell @ 4119 SL 4167 TP 3980.

USD CAD short sell @ 9737 TP @ 9677 SL 20

NZD USD short sell @ 8047 TP 7880 SL 30

Also will look to short sell EJ very soon here's the H1 chart

http://img19.imageshack.us/img19/800/ejh1harmonic.png

On euro it looks like a very strong put level is acting as magnet now, the options lie @ 4240-4260 area, I won't be too surprised if we reach that area soon and then reverse sharply.

thread closed, due to company agenda. hope to be back autumn 2011.

http://www.forexfactory.com/showthre...59#post4647259

Any chance of a quick heads up on Mongolian's technique and the improvements you were going to suggest before you go?

Thanks

yeah why not? trade off M5 TF and setup a shi channel and use TD sequential count, only trade in the direction of shi channel. Below weekly pivot only short, above weekly pivot only long. Look for PA reversals @ count of five on TD sequential.

That's almost it, this will filter out 85% of bad entries.

have fun!

Long time no update, I was busy running an oil company for a change.

Right now got more spare time, so will do updates now and again.

Here's the GU D1 chart with pattern scan / cycle analysis. The R/R is shifting to the downside. Reversal stick was printed directly @ an important TL and strong S/R area. I would expect 6200 to be printed sometime next week.

6220 is monthly pivot, it also happens to be the quarterly pivot, so a strong level acting as a magnet, once resistance is met.

Is there confluence with EU? I'm not sure really, EU seems to be in sideways mode for now, however there is confluence with USDX, since it's making a cup handle shaped low and preparing for a rebound.

Here's the GU D1 anyway. The way to trade this is to look for previous support becoming resistance since previous week and going short.

http://img10.imageshack.us/img10/716...ly20082011.png

Also here's is a Monday 22/08/2011 Neural Net forecasted high/low. let's see how that works.

The way I trade it is to look for trade setups during London session only, so if we reach 6546 I'd look to go short and set TP @ 6366
and vice versa if we head straight for the low during londong, I'd look to get in long and buy @ 6366 and TP @ 6546.

HIGH is 1.6546


LOW is 1.6366

A better explanation of the recent rally and it coming to a halt are the CALL options levels, clearly 6600 was an area of very heavy call interest, the level was hit and options met strike price before expiry, which is actually today.

Now that the big money cashed out I expect a decent-size correction into the next week. Here's the chart with call levels and august expiration calendar.

http://img838.imageshack.us/img838/928/gucallsaug.png

Monday EU H1 chart with PA forecast. we are very likely to try for previous Friday high and then reverse to 4200 area.

The NN forecast for high/low on Monday 22/08/2011 is as follows:

HIGH IS 1.4450

LOW IS 1.4254


http://img28.imageshack.us/img28/112...11forecast.png

I think it's worthwhile to post this setup on EJ H1, I've placed green lines to represent safe entries. I would like PA to confirm strong resistance area, represented by red rectangle on Monday, and will look for safe entries upon breach of green lines on the chart. SL @ previous high, TP's are pretty much on the chart. Let's see how it goes. This trade setup got very decent potential and awesome R/R ratio.

http://img823.imageshack.us/img823/8...up21082011.png

Also lets consider this GBP CHF H4 chart. PA met strong resistance @ MP. Long wicked candles indicate MP rejection. TL also broke to the downside.

I'd look to initiate shorts, however SL needs to be monitored closely and there are zones of resistance just 20-40 pips below current price.

Overall a trade with a very good potential. Upside is capped for now.

And you kinda can't go wrong with this trade. As markets detiorate further, more money will surely flood into CHF making it a stronger currency.

http://img806.imageshack.us/img806/5...h421082011.png

GBP CAD is very close to expiring. H4 chart shows that PA met very strong resistance, now zooming in you can see very long wicked and short body red candles indicating a bear take over and this means that this thing is going down and very soon as well.

Targets on downside are 300 500 and 700 pips away from current price. This trade got awesome potential and very tradeable R/R ratio. I would place a stop just above recent high.

http://img809.imageshack.us/img809/7...ry21082011.png

thank you

GBP USD Tueday High/Low NN forecast:


1.6491 1.6335

Looks like a short to me, but will wait for LBO still.


EUR USD Tueday High/Low NN forecast:


1.44801.4229

ok, today High/Low forecasts were pretty much off the target, although I did in fact short EUR USD, however I did that because of TA confluence - PA was rejected @ touch of TL and weekly R1, so that was the deal here, however the system did forecast an almost perfect high on euro.

Next High/Low update before London open tmrw.

GBP USD Wednesday High/Low NN forecast:


1.6564 1.6353


EUR USD Tueday High/Low NN forecast:


1.44751.4276 (revised)