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Backing Trades Thru Charts

  • #6,581
  • Nov 12, 2012 2:00pm Nov 12, 2012 2:00pm
Quoting tirmizi
hi Coke

i think with very tight calculation that EUR/JPY can go down as low as 100.10 or 100.13/14/15

to my calculations this pair has not completed the retrace fully, you bought at 100.80 and stops at b/e that is very good, if you get stopped out look to buy at 100.13/14/15

GL buddy
hi every one!!!

i have with after very extensive and precise calculation come with new numbers

if euro$ recent low breaks then 2651/53/55 could be potential bottom

pound$ if this recent low breaks then 5831/33/35 could be potential bottom

eur/jpy if this recent low breaks then 100.13/15 or 99.83/85/87

USDOLLAR recent high 9991 breaks then 10005/07 could be potential top

thanks and GL all
Learning Requires Failure
  • #6,582
  • Nov 12, 2012 2:03pm Nov 12, 2012 2:03pm
Quoting TheLastCoke
Thanks for sahring your view Tirmizi....Could you plase add a chart to show why you are looking at 100.15.
i think there is no need of charts i am just inter relating these pairs pound euro and USDOLLAR to explain me more that i am just calculating exact retrace these pair are having atm

thanks and good luck
Learning Requires Failure
  • #6,583
  • Nov 12, 2012 2:10pm Nov 12, 2012 2:10pm
lol come on T


Quoting tirmizi
hi every one!!!

i have with after very extensive and precise calculation come with new numbers

if euro$ recent low breaks then 2651/53/55 could be potential bottom

pound$ if this recent low breaks then 5831/33/35 could be potential bottom

eur/jpy if this recent low breaks then 100.13/15 or 99.83/85/87

USDOLLAR recent high 9991 breaks then 10005/07 could be potential top

thanks and GL all
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,584
  • Nov 12, 2012 2:19pm Nov 12, 2012 2:19pm
Quoting TheLastCoke
Gbp/usd

Attachment

Attachment
GBP/USD LL made and TL confluence is getting better

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  • #6,585
  • Nov 12, 2012 3:08pm Nov 12, 2012 3:08pm
Hi LC would you concider this a wedge ? on aud cad
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,586
  • Nov 12, 2012 3:22pm Nov 12, 2012 3:22pm
Quoting Bones
Hi LC would you concider this a wedge ? on aud cad
IMO Bones, the patten has too much empty space, I like to see a clear contracting PA going from UTL to LTL or vice versa with al least 5 touches

Attached Image (click to enlarge)
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  • #6,587
  • Nov 12, 2012 3:25pm Nov 12, 2012 3:25pm
right thanks LC ,I see what you mean
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,588
  • Nov 12, 2012 3:37pm Nov 12, 2012 3:37pm
Quoting Bones
right thanks LC ,I see what you mean
Something like this would be a nice Symmetry for that pattern:

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  • #6,589
  • Nov 12, 2012 3:53pm Nov 12, 2012 3:53pm
ok cool really im un educated in such things and tbh not been great at it but its important I learn

im gonna read all your links
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,590
  • Nov 12, 2012 4:03pm Nov 12, 2012 4:03pm
I've taken interest in your thread TLC. I can see I have so much to learn.
  • #6,591
  • Nov 12, 2012 4:13pm Nov 12, 2012 4:13pm
TLC is this something you would have been interested in. Price had retraced to the 50% fib then broke out of the wedge to the upside. Never mind my entry which was off a BUOEB on the H4 time frame.
Attached Image (click to enlarge)
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  • #6,592
  • Nov 12, 2012 4:25pm Nov 12, 2012 4:25pm
Quoting Winston Reed
TLC is this something you would have been interested in. Price had retraced to the 50% fib then broke out of the wedge to the upside. Never mind my entry which was off a BUOEB on the H4 time frame.
Welcome aboard WR, Thanks for sharing your work here. My entry for continuation or reversal patterns are usually at retest after the TL, Neck Line, Confirmation Line, etc is broken
  • #6,593
  • Nov 12, 2012 4:29pm Nov 12, 2012 4:29pm
Quoting Winston Reed
TLC is this something you would have been interested in. Price had retraced to the 50% fib then broke out of the wedge to the upside. Never mind my entry which was off a BUOEB on the H4 time frame.
Original Post:

Quoting TheLastCoke
EUR/GBP

Attachment

EUR/GBP 50% fib had a nice Bullish Confluence in it, now that Descending TL is getting broken we may see a nice development for your entry. Good Luck

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  • #6,594
  • Nov 12, 2012 4:49pm Nov 12, 2012 4:49pm
I should have waited to see a retest of the UTL of the wedge but I wonder if you could comment on what seemed like a possible earlier entry. It seems you take many trades off fib retracements at confluence with ppzs or s/r with obvious flips. In this EURGBP chart the hit off the 0.79957 line (a ppz from what I can see) at the 50% fib seemed to me to have been a good trade even before the wedge break. Or would seeing this wedge forming have been a reason to wait for the break.

One other thing. I follow J16. You seem to take touch trades without the "price action" which I would like to be able to do. Learning much here and I am quite intrigued by the harmonics, baffling really to me but the fibs at confluence I can digest.
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  • #6,595
  • Nov 12, 2012 4:50pm Nov 12, 2012 4:50pm
Quoting TheLastCoke
Original Post:




EUR/GBP 50% fib had a nice Bullish Confluence in it, now that Descending TL is getting broken we may see a nice development for your entry. Good Luck

Attachment
LOL you answered my question while I was typing. Thanks!!!!
  • #6,596
  • Nov 12, 2012 5:10pm Nov 12, 2012 5:10pm
Quoting Winston Reed
I should have waited to see a retest of the UTL of the wedge but I wonder if you could comment on what seemed like a possible earlier entry. It seems you take many trades off fib retracements at confluence with ppzs or s/r with obvious flips. In this EURGBP chart the hit off the 0.79957 line (a ppz from what I can see) at the 50% fib seemed to me to have been a good trade even before the wedge break. Or would seeing this wedge forming have been a reason to wait for the break.

One other thing. I follow J16. You seem to take touch trades without...
I wouldn't really look at EUR/GBP as a mid-term trade before the 50% fib test because of the previous test that went below the level (white circle, kind of a weak signal) on the other hand, it sure was a nice level to enter as a short term entry (taking the rejection) but now if the descending TL that I pointed before gets broken, I'd hold on to your long looking for yellow level test where may be a good place to take profits.

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  • #6,597
  • Nov 12, 2012 7:10pm Nov 12, 2012 7:10pm
Quoting Winston Reed
You seem to take touch trades without the "price action" which I would like to be able to do. Learning much here and I am quite intrigued by the harmonics, baffling really to me but the fibs at confluence I can digest.
It is just a different approach to PA (daily candle average, consolidation periods, poor rejection, tight range, etc), I will try to explain why the entry criteria was met or why the setup was cancelled.

Harmonincs are just a combination of fibs in a very particular way, best thing about it is that D (entry level) are at extrems where the RRR is fantastic. Easiest way to start is with a simple AB=CD pattern, they are the mother of harmonics.

Keep this in mind:
AB=CD when D=100% the periods should also be equal (time and lenght). Good setup if symmetry is acceptable
AB=CD when D= 127% try to look for another confluence for a strong reliability
AB=CD when D= 161% last Possible Reversal Point (for AB=CD alone not for harmonic combination) and usually this is a good setup just by itself
  • #6,598
  • Nov 12, 2012 8:12pm Nov 12, 2012 8:12pm
I've created a Poll, multiple choice is allow and participants aren't showed.
  • #6,599
  • Nov 12, 2012 8:32pm Nov 12, 2012 8:32pm
Quoting TheLastCoke
EUR/JPY Also at BE with poor development
EUR/JPY is testing LTL again. SL was set at BE+2 but broker executed at -7

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  • #6,600
  • Nov 13, 2012 8:14am Nov 13, 2012 8:14am
I think you already posted something on this one.
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