Two Lines and a Chart

Well, I had clinic appointments all day yesterday and I was just too exhausted to make any trades in the middle of the night, so I am behind the eight ball here when it comes to being right with my entries and exits. I will work on getting the ship righted again and back on track.

It is turning out to be a challenging experience trying to trade make it to every 4-hour bar to see what the next move is.

Well, I have had some intersing few days.

First, while I was working on my reversal rules of counting bars, etc. that I have laid out in the first post, I decided to put into use the trendline by angle tool using the 60 and 300 degree features. These are some nice features, as they are allowing me to do many things.

1) They are allowing me to stay in trades longer.

2) They are allowing me to add on positions, which is what I want to be able to do.

3) They are allowing me to anticipate when a pair will reverse. Sometimes I will be wrong and other times I will be right.

4) They have made it much easier (I think) for me to read my charts and so hopefully I will make less mistakes with my entries.

5) They have also allowed me to take into account chart patterns as they materialize, so I can be better prepared to know what is coming ahead.

All in all, I have made lots of good progress and I hope to get the 1st page updated as quickly as I can.

Dust!

I will go over more detail on the first post when I get a chance

Here is some charts to mess around with:

Secondary trade triggered long. I will make the TP at the 161 fib extension. If I ever get my trade explorer up and running again, my exit and entry points will be visible again.

Until my sentiment changes, I will now only be taking long trades for the eurchf. It would have also been at this momemt (well, a few candlesticks ago), that I would have closed all my short trades.

Chart:

I'm still torn in Elliot speak if we are correcting or looking at a five wave move up...what I'm noticing is that we are consolidating in a triangular fashion with most of the dollar pairs, which is indicative of a 4th wave after this extended 3rd wave move. On the other hand it could be distribution of positons before we resume the bigger picture downtrend. This coming week I'm looking short at the top of the triangle and long at the bottom until we break one way or the other. I think the "boys" will be trying to shakeout as many as possible before they flush it the way they want it to. It does look very bullish, but over done at the moment. Here's my GU chart. Time wise I feel like we are close to a significant swing, which in this case would be a swing high. short.

I think that the key is going to be in the next move up. If the next move up can reach that upper level band area again, I would feel confident in saying that we have entered a consolidation range area where it is time to add more longs waiting for the break higher. If it does not get that high, than I will be looking for short position. We'll see...

Let's keep in touch and lets see if we can't get on the right side of this thing!

Dust

some VSA on EU

Your weekly chart looks incredible for a sell!

The daily chart to me looks a little questionable. I have to do some more work on the dailly charts, but wont be able to while in the hospital this week. In theory, I may have already been long on it, but I think that the rules I use for the H4 entries need to be a bit different for the daily entries.


Love your charts man. Post them any time. Unless I am seeing something wrong, I would be placing an order above that last bar by 50 pips or so.

Funny how my h4 and w1 strategies work good but they need to be differnt on the daily chart. UGH! There aways has to be something.

It will be a strugle for me to do much, but I will do what I can while I am here getting well.

Dust

Alright. I have entered one gbpusd short and am planning on entering one more trade a little later today of the price action is correct. It seems a lot of other traders were skeptical yesterday as was I, as there was not enough strength to keep it down. Hence, the bounce back up, From here I will watch the price, see what it does, and enter another trade if everything fits into place.

Currently looking for a short on eurusd

Maybe we have reached a top trendline bounce down point at the blue line. Not going to count on that yet. Justg going to use this as the TP point for long trades from a lower starting point, until she willingly flips over for me