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High velocity trading

  • #421
  • Sep 24, 2011 1:34am Sep 24, 2011 1:34am
http://img535.imageshack.us/img535/3...h124092011.png

EUR JPY H1 chart

Very nice shortable setup spotted on EJ, I will look for rejection of the highlighted area @ confluence with TL. If PA is rejected 104-104.20, will short sell with SL 25 and TP @ 102.20.

However, if TL breaks and PA breaks 104.60-80 area, looking to go LONG TP @ 105.80-90 area. SL 25 as well.

Prefer SHORT over LONG, however will refer to this chart for final decision. Entry as usual on M30 charts, once a red-green candle makes a decision. Always timing my candles, and not jumping too early - patience is required as usual.
  • #422
  • Sep 24, 2011 1:42am Sep 24, 2011 1:42am
http://img813.imageshack.us/img813/7...w124092011.png

Here's AUD USD Weekly Chart. It looks like we reached an area of important technical confluence. I would expect price action to retrace from current levels. It's a pretty strong trend line and technical reversal level.

I'd expect price action to rebound at least 200-300 pips, before we attempt to break this trend line. It's hard to imagine this TL breaking just after one test!
  • #423
  • Sep 24, 2011 1:53am Sep 24, 2011 1:53am
Guys gotta go, going out of town for the weekend. Will try to update setups/charts before market open on Sunday. Have a good one!
  • #424
  • Sep 24, 2011 1:53am Sep 24, 2011 1:53am
so that everyone can see it, here's copy paste - see previous page for attachments!

Guys, here's the requested template, which I'm using myself.

just put tpl into templates of your MT4 and ex4 into indicators folder.

b-clock is candle timer
shi channel - is a shi channel - very flexible, check it out
floor pivots weekly - best weekly pivot indicator that I know of
pivot 4 custom timeframe - can display weekly, monthly, mid pivots, etc.
I use this to display monthly pivots.

Hope this helps, if not let me know!
  • #425
  • Sep 24, 2011 6:14am Sep 24, 2011 6:14am
Quoting ruffryders
http://img683.imageshack.us/img683/2...d123092011.png

Guys here's the D1 XAU USD chart. We are below MP/WP also TL broke @ 1782. Now we are below 1700. Next up is 1650. Can it provide support?

The real question here is what will happen on BRENT, once it reached 100. Will it retrace? Or will it crack 100 and go lower possibly to 94-96 area?

Also lets look at GOLD quarterly levels for a sec.


1744.0000 R3
1660.0000 R2
[b][color=darkred]1580.0000...

Noted and marked with week and month pivots..on several charts... looking for confluence..
  • #426
  • Sep 24, 2011 12:06pm Sep 24, 2011 12:06pm
http://img703.imageshack.us/img703/2...h124090211.png

Let's review GU H1 chart. It looks like PA will retest 5600-5700 this week.

Suggested plan: LONG GU @ 5533 SL 25 TP 5668
  • #427
  • Sep 24, 2011 12:13pm Sep 24, 2011 12:13pm
http://img853.imageshack.us/img853/9...h124092011.png

Let's review EU H1 chart.

Suggested gameplan - LONG BUY from 3540-3550 for TP @ 3680. Then SHORT sell from 3680-3700 TP @ 3500. Use 25 as SL.
  • #428
  • Sep 25, 2011 2:02am Sep 25, 2011 2:02am
EUR CAD H4 chart - possible H&S setups

http://img703.imageshack.us/img703/8...ad25092011.png

I'd be looking for price action reaction, when/if it reached the 4140-80 area for signs of reversals. It's always good to wait for neckline break though, so lets' monitor this pattern and see how it develops this week.
  • #429
  • Sep 25, 2011 2:11am Sep 25, 2011 2:11am
GBP NZD H4 - looking for tech confluence for price action reversal

http://img153.imageshack.us/img153/4...h425092011.png

My gameplan here - look for PA to reverse in the highlighted area. Use a tight stop @ MR1 + 40 pips. Look for M30-H1 reversal red stick in the highlighted area. Short sell. Set TP1 @ + 150 TP2 @ + 300 pips.

This looks like a very interesting trade setup.
  • #430
  • Sep 25, 2011 2:25am Sep 25, 2011 2:25am
CME Group Raises Comex Gold Margins By 21.5%, Silver Margins By 15.6%

Surely this will result in more downside on gold this week.
  • #431
  • Sep 25, 2011 2:33am Sep 25, 2011 2:33am
http://img708.imageshack.us/img708/6...sd25092011.png

The downmove on precious metal is not over yet. Check out this SILVER H4 chart. We are on the way to 26. Price took out the median line and slides through every resistance at ease. 26 is definitely next up and this means for gold price of approx 1400-1500.

Let's see how it goes then!
  • #432
  • Sep 25, 2011 3:59am Sep 25, 2011 3:59am
Cracker Charts and Info....THANK...YOU...Am long Cable from Friday nite Aussie time..stop at break even..possie taken based mainly on what i say price action wise..on USD ..CAD.. and Cable ..Silvermmm Wot A fkng correction..dangerous game any one holding... and i know several..
  • #433
  • Sep 25, 2011 7:33am Sep 25, 2011 7:33am
R.R.. re your 1/4 pivots.. using the range and projecting off centre pivot... by 2.618% gives current hi almost exact.. at 1920.. according to my calculations..so if rotating back ftrom this point..to its point of origin... should give 1496...but could rotate from current point to 1700 befor heading down.. which is current weekly mid point..also current weekly.. pivots.. range 100 % extended gives 1500..which is of course almost 1/4.. mid exact ..These are not my rules but some one else who trades this way solely..any comment?? is your thinking along these lines..???Reason i ask is.. cause the current pivots... because of such a small range doesnt make much sense to me..So in finishing I and using fibo pivots... I have got..year 50% at1490.. 1/4.. at 1496.. and current week at 100% at 1500..
Oh SHI channel..what a beauty.. Thanks..
  • #434
  • Sep 25, 2011 1:03pm Sep 25, 2011 1:03pm
Quoting danc
R.R.. re your 1/4 pivots.. using the range and projecting off centre pivot... by 2.618% gives current hi almost exact.. at 1920.. according to my calculations..so if rotating back ftrom this point..to its point of origin... should give 1496...but could rotate from current point to 1700 befor heading down.. which is current weekly mid point..also current weekly.. pivots.. range 100 % extended gives 1500..which is of course almost 1/4.. mid exact ..These are not my rules but some one else who trades this way solely..any comment?? is your thinking...
My thinking is that since we are below QR2 and MS1 we are about to test QR1 @ 1580. Will we reach QP @ 1496? Hmmm, hard to say really, last week to go before end of September. September 30th is obviously quarterly options expiration date. This can move markets in a big way.

AWR on gold in 105 dollars. Even if we crack lower this week, this gives a downside target of 1550 approximately. I'd say it's fair to expect more volatility this week, as bulls will fight back for sure. However, margin hike by CME should not be taken lightly. Last time around it sent XAG USD (silver) propelling downwards in a hurry.

All in all gotta be on a lookout for stronger levels this week (monthly, quarterly). I won't even look @ weekly, aside from WP to gauge price weakness/strength.
  • #435
  • Sep 25, 2011 1:16pm Sep 25, 2011 1:16pm
AUD USD LONG @ 9913 SL 25 TP 125 pips
  • #436
  • Sep 25, 2011 1:21pm Sep 25, 2011 1:21pm
http://img13.imageshack.us/img13/1803/euw125092011.png

Just a gentle reminder, on EU W1 chart we reached an important decision-making area. We are still at the cross roads, as the break of the important support area is still possible, so we need to watch that level carefully!
  • #437
  • Sep 25, 2011 6:24pm Sep 25, 2011 6:24pm
RR.. Thanks for .. yr reply..and insight into yr thinking..

I Am long Aussie too..
  • #438
  • Sep 26, 2011 12:10am Sep 26, 2011 12:10am
http://img535.imageshack.us/img535/5...nt26092011.png

BRENT update. We are on the way to the highlighted area, which is below 100 mark. I suppose 100 will offer some resistance, but 94-96 will be up next, after 100 dollar mark is cleared.

I will be careful with EU/AU/GU longs, before we bottom out on precious metals / oil. Longs can be taken, only if we get strong reversal candles on M30-H1.
  • #439
  • Sep 26, 2011 12:13am Sep 26, 2011 12:13am
Quoting ruffryders
http://img13.imageshack.us/img13/1803/euw125092011.png

Just a gentle reminder, on EU W1 chart we reached an important decision-making area. We are still at the cross roads, as the break of the important support area is still possible, so we need to watch that level carefully!
I think by looks of it EU support is not gonna hold.

This means all LONG setups (EU, GU, AU) will be cancelled. We will only look to short sell then.

Need to be very careful with oil/metals melting down.
  • #440
  • Sep 26, 2011 12:32am Sep 26, 2011 12:32am
Quoting danc
RR.. Thanks for .. yr reply..and insight into yr thinking..

I Am long Aussie too..
careful, for the reasons I highlighted above. BRENT is melting down and looks like it's not gonna stop.
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