My long term positions are still positive(I am short) but the little that I traded the last 2 weeks short term I also had mixed results....
I am not on the ball....lately....
- #13,981
- Nov 15, 2012 7:13pm Nov 15, 2012 7:13pm
- | Commercial User | Joined Apr 2012 | 1,026 Posts
- #13,982
- Nov 15, 2012 7:21pm Nov 15, 2012 7:21pm
On your charts you have some TL and some support and resistance lines....some of them are correct and some of them are not.....
Most look OK......you will have to follow and learn.....
TL's are discretionary so 2 traders TL's might not be exact.......but you are on the right track....
Look at Steve's charts......(I know they might be overwhelming in the beginning.....but do not give up....) his trendlines are amazing,
and very correct....look at the shorter term ones....to start of with......after 1 month you should feel more comfortable........
i try to draw TL like mr.steve.... thats a lot of lines ... some of them i understand and some of them i dont understand....
but i will keep up and keep learning....
- #13,984
- Nov 15, 2012 7:54pm Nov 15, 2012 7:54pm
- Joined Aug 2009 | Status: Trader | 2,576 Posts
owh.... TY mr.4xPIPAHOLIC
i try to draw TL like mr.steve.... thats a lot of lines ... some of them i understand and some of them i dont understand....
but i will keep up and keep learning....
Just the basic ones......soon you will be seeing them everywhere......it will become second nature....
Here is an example.....
- #13,985
- Nov 15, 2012 8:03pm Nov 15, 2012 8:03pm
My friend.....you do not have to do so many trend lines.....you can start with something basic and evolve from there comfortably.....
Just the basic ones......soon you will be seeing them everywhere......it will become second nature....
Here is an example.....
- #13,992
- Nov 16, 2012 12:27am Nov 16, 2012 12:27am
- Joined Aug 2012 | Status: Trader | 4,266 Posts
Good morning.
I remain bullish today. Target 2844. Reason? IMO Bullish pennant on tf 1,5,15,30,1H that is resting on inverted H&S neckline. H&S weight 79 pips, so targeting the area 40-50. Also matches with %100 fibextension drawn from 2717(l)-2801(h)-2760(pb).
TY and i wish you all a succesful trading day
15MIN Chart
I remain bullish today. Target 2844. Reason? IMO Bullish pennant on tf 1,5,15,30,1H that is resting on inverted H&S neckline. H&S weight 79 pips, so targeting the area 40-50. Also matches with %100 fibextension drawn from 2717(l)-2801(h)-2760(pb).
TY and i wish you all a succesful trading day
15MIN Chart
- #13,993
- Nov 16, 2012 12:29am Nov 16, 2012 12:29am
- | Joined Feb 2009 | Status: Trader | 2,444 Posts
Good one. However, do not tell this to Steve 
My friend.....you do not have to do so many trend lines to start off with.....you can start with something basic and evolve from there comfortably.....
Just the basic ones......soon you will be seeing them everywhere......it will become second nature....
Here is an example.....
- #13,994
- Nov 16, 2012 12:35am Nov 16, 2012 12:35am
my first trade of the day is long @ 2768 , SL 2753 , TP1 (50%) 2795 TP2 2815
reasons: overnight-built bottom at pivot-point 2767
Triangular consolidation with
H1 upwardschannel's lower TL hit by just now
23.2 Fibonacci of recent upmove reached
reasons against it: maybe just a false breakout out of H4 / D1 downchannel, yet it's next importatn fibonacci (on my chart hehe ) will be @ 2800, which is beyond my TP1 --> taking special attention on that one!
(didn't blank account-details as it iis just myfxbook-demo/contest - Account ; I trade the same setup on my real account too though)
reasons: overnight-built bottom at pivot-point 2767
Triangular consolidation with
H1 upwardschannel's lower TL hit by just now
23.2 Fibonacci of recent upmove reached
reasons against it: maybe just a false breakout out of H4 / D1 downchannel, yet it's next importatn fibonacci (on my chart hehe ) will be @ 2800, which is beyond my TP1 --> taking special attention on that one!
(didn't blank account-details as it iis just myfxbook-demo/contest - Account ; I trade the same setup on my real account too though)
Broke to the downside . No target in mind yet, but I will be watching PA for how long it will continue.
I too think we are destined for some good upside in the near future. However IMO this has been looking quite overbought and in need of a pullback. I think you're too soon, but hey we gotta stick to our own plans right? Good luck (but only when I close my short haha)
. No target in mind yet, but I will be watching PA for how long it will continue.my first trade of the day is long @ 2768 , SL 2753 , TP1 (50%) 2795 TP2 2815
reasons: overnight-built bottom at pivot-point 2767
Triangular consolidation with
H1 upwardschannel's lower TL hit by just now
23.2 Fibonacci of recent upmove reached
reasons against it: maybe just a false breakout out of H4 / D1 downchannel, yet it's next importatn fibonacci (on my chart hehe ) will be @ 2800, which is beyond my TP1 --> taking special attention on that one!
Attachment
(didn't blank account-details...
I too think we are destined for some good upside in the near future. However IMO this has been looking quite overbought and in need of a pullback. I think you're too soon, but hey we gotta stick to our own plans right? Good luck (but only when I close my short haha)
- #13,996
- Nov 16, 2012 12:43am Nov 16, 2012 12:43am
- | Joined Sep 2012 | Status: Halal Forex I Hope. | 150 Posts
Good morning.
I remain bullish today. Target 2844. Reason? IMO Bullish pennant on tf 1,5,15,30,1H that is resting on inverted H&S neckline. H&S weight 79 pips, so targeting the area 40-50. Also matches with %100 fibextension drawn from 2717(l)-2801(h)-2760(pb).
TY and i wish you all a succesful trading day
15MIN Chart
- #13,997
- Nov 16, 2012 12:44am Nov 16, 2012 12:44am
Good morning.
I remain bullish today. Target 2844. Reason? IMO Bullish pennant on tf 1,5,15,30,1H that is resting on inverted H&S neckline. H&S weight 79 pips, so targeting the area 40-50. Also matches with %100 fibextension drawn from 2717(l)-2801(h)-2760(pb).
TY and i wish you all a succesful trading day
15MIN Chart
- #13,998
- Nov 16, 2012 12:45am Nov 16, 2012 12:45am
- Joined Aug 2012 | Status: Trader | 4,266 Posts
Broke to the downside
I too think we are destined for some good upside in the near future. However IMO this has been looking quite overbought and in need of a pullback. I think you're too soon, but hey we gotta stick to our own plans right? Good luck (but only when I close my short haha)
- #14,000
- Nov 16, 2012 12:48am Nov 16, 2012 12:48am
- Joined Aug 2012 | Status: Trader | 4,266 Posts
still bullish? i mean 28 area that's strong. i dont see it any time soon...
But this is FX. everybody has his own sentiments and tech analysis .