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  • #18,841
  • Dec 8, 2012 10:26pm Dec 8, 2012 10:26pm
Quoting DaddyBear
I don't believe everyone agrees with my projection. Any opinions are welcome.
there is a gap up on M15 chart..
perhaps that should be closed before we can go higher..
  • #18,842
  • Dec 8, 2012 10:32pm Dec 8, 2012 10:32pm
Quoting dbutton1990
I feel we are headed up, not down...I'm curious as to how you developed the current channel. Thanks
The channel has been established by four contact points as shown in the chart below. The 5th contact point shall be at the top not the bottom. In other words, the projected short term downward move may not touch the LTL of the daily/H4 channel. IMO
Attached Image (click to enlarge)
Click to Enlarge Name: DAVID-3.JPG Size: 63 KB
daddybearforex. com
  • #18,843
  • Dec 8, 2012 10:35pm Dec 8, 2012 10:35pm
Quoting HelloOz
there is a gap up on M15 chart..
perhaps that should be closed before we can go higher..
Could you post that M15 gap up?
daddybearforex. com
  • #18,844
  • Dec 8, 2012 10:39pm Dec 8, 2012 10:39pm
When I wrote the messages and prepared the projection charts, I went through many layers of thinking to come to the conclusion. This process helped me understand more about EWP. My time was well spent. Now, I know how to break through the bottleneck of thinking.
daddybearforex. com
  • #18,845
  • Dec 8, 2012 10:43pm Dec 8, 2012 10:43pm
Quoting DaddyBear
The channel has been established by four contact points as shown in the chart below. The 5th contact point shall be at the top not the bottom. In other words, the projected short term downward move may not touch the LTL of the daily/H4 channel. IMO
Thanks!
Good luck and may the odds be ever in your favor!
  • #18,846
  • Dec 8, 2012 10:44pm Dec 8, 2012 10:44pm
Quoting HelloOz
i think you are desperate..
but i like it..
I think MAXIM has been addicted to his bearish ideology too long to get out now.
daddybearforex. com
  • #18,847
  • Dec 8, 2012 10:51pm Dec 8, 2012 10:51pm
I was a perma-bear all the time before. It's not good when trading the Forex market. Finally, I got out of that cave and saw a new world under the sun. A time to short and a time to long if a trader wants to make pips seriously.
daddybearforex. com
  • #18,848
  • Dec 8, 2012 10:55pm Dec 8, 2012 10:55pm
Quoting DaddyBear
I was a perma-bear all the time before. It's not good when trading the Forex market. Finally, I got out of that cave and saw a new world under the sun. A time to short and a time to long if a trader wants to make pips seriously.
A smart bear senses the change of wind directions and acts accordingly.

http://www.forexfactory.com/attachme...1&d=1342530438
daddybearforex. com
  • #18,849
  • Dec 8, 2012 11:07pm Dec 8, 2012 11:07pm
Trading the Forex markets is very tough to be success. In order to move to the higher levels of trading thinking, one has to give up a lot of old school teachings not to add more ideologies. Less is more!

Some people believe in one trading method without any doubt. To me, this is incredible. For example, the method of breakout keeps a trader from shorting until the pair drops another 200 pips to break through a specific level. I don't understand this concept at all. Selling high and buying low is the way to go IMO.
daddybearforex. com
  • #18,850
  • Dec 8, 2012 11:15pm Dec 8, 2012 11:15pm
Quoting DaddyBear
I need some feedback in regard to my projection. Anyone?
Aud m30 m15 Target 1.0435-10
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud 30m.gif Size: 39 KB
Click to Enlarge Name: aud 15m.gif Size: 35 KB
  • #18,851
  • Dec 8, 2012 11:17pm Dec 8, 2012 11:17pm
Quoting DaddyBear
Trading the Forex markets is very tough to be success. In order to move to the higher levels of trading thinking, one has to give up a lot of old school teachings not to add more ideologies. Less is more!

Some people believe in one trading method without any doubt. To me, this is incredible. For example, the method of breakout keeps a trader from shorting until the pair drops another 200 pips to break through a specific level. I don't understand this concept at all. Selling high and buying low is the way to go IMO.
You have to find one trading strategy that works for you and go for it. However, passing on a 200 pip trading opportunity is insanity to me. The triangle break out method I find in consistent. I myself like to trade via the Fibonacci's. DB, how did you begin to trade in the forex market? Do you just trade the aud/usd?
Good luck and may the odds be ever in your favor!
  • #18,852
  • Dec 8, 2012 11:19pm Dec 8, 2012 11:19pm
Quoting DaddyBear
Trading the Forex markets is very tough to be success. In order to move to the higher levels of trading thinking, one has to give up a lot of old school teachings not to add more ideologies. Less is more!

Some people believe in one trading method without any doubt. To me, this is incredible. For example, the method of breakout keeps a trader from shorting until the pair drops another 200 pips to break through a specific level. I don't understand this concept at all. Selling high and buying low is the way to go IMO.
For me breakout method is when market range in 20-30 pips around 8-16 hour, then break up or down first target 20-30 pips.
  • #18,853
  • Dec 8, 2012 11:20pm Dec 8, 2012 11:20pm
Quoting Tim_isoara
Aud m30 m15 Target 1.0435-10
Tim, nice chart indeed. But, I'd say 1.0444 first stop. IMO
daddybearforex. com
  • #18,854
  • Dec 8, 2012 11:32pm Dec 8, 2012 11:32pm
Quoting dbutton1990
You have to find one trading strategy that works for you and go for it. However, passing on a 200 pip trading opportunity is insanity to me. The triangle break out method I find in consistent. I myself like to trade via the Fibonacci's. DB, how did you begin to trade in the forex market? Do you just trade the aud/usd?
I used to trade options but found out Forex in 2008. I gradually transfered to Forex trading only. The high leverage was very attractive to me at that time. I traded different pairs before. This year I decided to focus on AUDUSD only.
daddybearforex. com
  • #18,855
  • Dec 8, 2012 11:34pm Dec 8, 2012 11:34pm
Quoting Tim_isoara
For me breakout method is when market range in 20-30 pips around 8-16 hour, then break up or down first target 20-30 pips.
Is this the only method you use in trading?
daddybearforex. com
  • #18,856
  • Dec 8, 2012 11:42pm Dec 8, 2012 11:42pm
my view from other concept ( pitchfork and ema 200 from various timeframe on the same 4H time frame as main window )
by drawing pitchfork, a bit clear where the pa is located right now and crossing ema will tell us something later...

1 cent and only ..


Quoting DaddyBear
I need some feedback in regard to my projection. Anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: puyeng 2.gif Size: 30 KB
not euphoria follower
  • #18,857
  • Dec 8, 2012 11:49pm Dec 8, 2012 11:49pm
Quoting dbutton1990
You have to find one trading strategy that works for you and go for it. However, passing on a 200 pip trading opportunity is insanity to me. The triangle break out method I find in consistent. I myself like to trade via the Fibonacci's. DB, how did you begin to trade in the forex market? Do you just trade the aud/usd?
BTW, I don't sue old school teachings to trade. I designed my own indicators based on my understanding of the market behaviors.

Someone posted a message that he wouldn't short until it breaks 0.98 when the Aussie was at 1.02xx. Recently, another one said he won't long until it break 1.06xx when the Aussie was at 1.03xx.

IMO, this kind of breakout is for some big boys with huge funds to make a windfall in a short time frame. They are not day traders. A day trader has to use different mindset to trade.
daddybearforex. com
  • #18,858
  • Dec 8, 2012 11:51pm Dec 8, 2012 11:51pm
Chinese retail sales data is positive. Not sure if there'll be a gap up, but a slight move higher in the beginning of the week is possible.
  • #18,859
  • Dec 8, 2012 11:53pm Dec 8, 2012 11:53pm
Quoting DaddyBear
BTW, I don't sue old school teachings to trade. I designed my own indicators based on my understanding of the market behaviors.

Someone posted a message that he wouldn't short until it breaks 0.98 when the Aussie was at 1.02xx. Recently, another one said he won't long until it break 1.06xx when the Aussie was at 1.03xx.

IMO, this kind of breakout is for some big boys with huge funds to make a windfall in a short time frame. They are not day traders. A day trader has to use different mindset to trade.
I am now of the opinion that aud is a good long only above 1.07 -
1,06X is not a safe level for longs - despite the year old triangle.
  • #18,860
  • Dec 8, 2012 11:53pm Dec 8, 2012 11:53pm
Quoting iqyu5an
my view from other concept ( pitchfork and ema 200 from various timeframe on the same 4H time frame as main window )
by drawing pitchfork, a bit clear where the pa is located right now and crossing ema will tell us something later...

1 cent and only ..
I have found that it is hard to apply Andrew's pitchfork to the charts correctly in order to get the real view [not rear view]. How do you use pitchfork? Thanks.
daddybearforex. com
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