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Chart Discussion

  • #121
  • Dec 19, 2011 6:54pm Dec 19, 2011 6:54pm
Quoting andrew93
If count in spread at 4 pip, the stop loss on your limit is around 10 pip. Just curious: do you usually aim for such tight stop or is it the particular case?
no, stop was wider, after rejection i moved it.
if yellow UTL breaks it will probably get higher for a hh so i will have lost the trade.
  • #122
  • Edited 2:12am Dec 20, 2011 2:00am | Edited 2:12am
Quoting longshot_nl
no, stop was wider, after rejection i moved it.
if yellow UTL breaks it will probably get higher for a hh so i will have lost the trade.
well rejection was poor.
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  • #123
  • Dec 20, 2011 2:52am Dec 20, 2011 2:52am
Quoting longshot_nl
pair setting up nicely for a short..
still ok...
i put parallel lines on there which all work more times.
the green one is a pitchfork.
the little red channel is bugging me a bit though becouse it more bulls when it breaks.
so i hope there will be confluence between a yellow or green line and the fib.
preferably the green one becouse its the median line of the pitchfork.
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  • #124
  • Edited 5:17pm Dec 20, 2011 10:05am | Edited 5:17pm
Quoting jsmanuse
Looks like the bears ate their Wheaties as I thought they would.

_Joe
Nothing like a clear failure to show what is going to happen... it didn't meet the first C target.
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  • #125
  • Dec 20, 2011 11:17am Dec 20, 2011 11:17am
Quoting TheLastCoke
AUD/CAD Pick one answer: Is it going to break UTL (upper TL) or is it going to be rejected and test LTL (lower TL)?
Guess Bulls won after all, No LTL test nor LL
  • #126
  • Dec 20, 2011 4:14pm Dec 20, 2011 4:14pm
Quoting TheLastCoke
If you really HAVE TO PICK a side, which one would you choose and why?
GBP/JPY Looks like Bulls want to rally. Cons: Because it broke near the apex it can heavily return when reached.

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  • #127
  • Dec 20, 2011 4:38pm Dec 20, 2011 4:38pm
USD/JPY Your opinion on this one: Right now it is testing TL + 200SMA, is it going to break TL and reach level 2 or is it going to be rejected and test level 1? (it is kind in the middle right now to be fair)

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  • #128
  • Dec 20, 2011 5:10pm Dec 20, 2011 5:10pm
Quoting TheLastCoke
USD/JPY Your opinion on this one: Right now it is testing TL + 200SMA, is it going to break TL and reach level 2 or is it going to be rejected and test level 1? (it is kind in the middle right now to be fair)

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more inclined to south maybe? but honestly i am flat on this one. price rising towards timeline but price bounced from bullish 61.8. no bearish divergence. but im betting my ass somethings going to happen. 4/8ths of the square mirror moving average spot on the cycle. honestly it should rise. it broke a bearish fan line should reach the next. north. its at a new square so MAYBE it rises north.


i never trade the yen only once for a 50+ pip run for lame 7 hours wait. if i had to take a trade i would go short.
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Have I got something on my face, SOLDIER?
  • #129
  • Dec 20, 2011 8:39pm Dec 20, 2011 8:39pm
Quoting TheLastCoke
USD/JPY Your opinion on this one: Right now it is testing TL + 200SMA, is it going to break TL and reach level 2 or is it going to be rejected and test level 1? (it is kind in the middle right now to be fair)

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I'm inclinded to give UJ bulls the benefit of the doubt. Bearish wave from apex seems complete to me when I look at the patterning, and bullish wave from bottom looks like good impulse and retracement. Even if it falls off a little I'd look for dips to be bought. Not trading this one though.
  • #130
  • Dec 21, 2011 5:01am Dec 21, 2011 5:01am
Quoting stevefx
I'm inclinded to give UJ bulls the benefit of the doubt. Bearish wave from apex seems complete to me when I look at the patterning, and bullish wave from bottom looks like good impulse and retracement. Even if it falls off a little I'd look for dips to be bought. Not trading this one though.
I agree. Here's a chart with my thoughts. It uses indicators so don't kill me:

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This chart shows several types of divergence. Monthly...

This next chart is an Ichimoku Kinko Hyo chart and should never be underestimated for daily trading on this pair. It's no coincidence, in my opinion, that the intervention took the price above the cloud. There's loads to discuss here but briefly: Price is now above cloud (support) with flat Senkou Span. Senkou Span A and B starting to change over (Kumo twist). Kijun Sen and Tenkan Sen cross a few days ago, above cloud.

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There's something to chew on. Sorry TLC, I know none of this matches your technical style.
Gone to a better place
  • #131
  • Dec 21, 2011 5:17am Dec 21, 2011 5:17am
Quoting smikester

There's something to chew on. Sorry TLC, I know none of this matches your technical style.
That's why we are here for, thanks for sharing!
  • #132
  • Dec 21, 2011 5:52am Dec 21, 2011 5:52am
Quoting TheLastCoke
EUR/GBP Approaching entry

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imho, would be better if happens next week.
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  • #133
  • Dec 21, 2011 9:03am Dec 21, 2011 9:03am
gbp aud 4h

possible LTL retest
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  • #134
  • Dec 21, 2011 9:05am Dec 21, 2011 9:05am
gbp chf weekly

unusual usage of pitchfork but may work anyhow..
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  • #135
  • Dec 21, 2011 9:08am Dec 21, 2011 9:08am
Quoting longshot_nl
eur nzd daily
- previous support broken 4 times already.
- bearish price action.
+ high RRR
+ confluence
+ previous down trend broken up and made hh
some rejection found
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  • #136
  • Dec 21, 2011 5:13pm Dec 21, 2011 5:13pm
aud cad retest here?
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  • #137
  • Dec 21, 2011 5:29pm Dec 21, 2011 5:29pm
aud nzd...
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  • #138
  • Dec 21, 2011 5:34pm Dec 21, 2011 5:34pm
Quoting longshot_nl
aud cad retest here?
I like your charts but rarely comment because you often pull up pairs which I don't trade. In this case I thought I'd have a look. I thought that 1.0300 support was only H4 but no, there it is monthly support in 1993 or somewhere. So yes I'd trade that, especially if it's a trend line retest - watch for price action around there on the H1 or H4... Spreads a bit much for me, though, because I like to confirm PA at H4 or D1 and then get in on H1 max, preferably a small bar. Stingy or what? Anyway, I'm enjoying your charts.
Gone to a better place
  • #139
  • Dec 21, 2011 5:40pm Dec 21, 2011 5:40pm
Quoting smikester
I like your charts but rarely comment because you often pull up pairs which I don't trade. In this case I thought I'd have a look. I thought that 1.0300 support was only H4 but no, there it is monthly support in 1993 or somewhere. So yes I'd trade that, especially if it's a trend line retest - watch for price action around there on the H1 or H4... Spreads a bit much for me, though, because I like to confirm PA at H4 or D1 and then get in on H1 max, preferably a small bar. Stingy or what? Anyway, I'm enjoying your charts.
thanks a lot
  • #140
  • Dec 25, 2011 5:31pm Dec 25, 2011 5:31pm
Quoting TheLastCoke
GBP/JPY Looks like Bulls want to rally. Cons: Because it broke near the apex it can heavily return when reached.

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GBP/JPY Retracement made at Apex

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