Hi cgriffin,
Yes, you are correct this trade was not a Basic Setup.
But someone just shouted .....(see attached pic) and herd just repeat and follow.
Another simple system - Time-Frame 15
- #17,767
- Dec 17, 2012 12:48am Dec 17, 2012 12:48am
- Joined Dec 2010 | Status: Never Stop Learning | 7,326 Posts
- #17,773
- Dec 17, 2012 12:58am Dec 17, 2012 12:58am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #17,774
- Dec 17, 2012 1:08am Dec 17, 2012 1:08am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
Last bit of trading opinion for the year. Would not be surprised to see ej and eur fall, mainly for ej to close the gap. Poss buy areas for eur the D pivot and M2 ie 1.3124 and 1.3112.
I'll pop in from time to time but for me trading is done for another year. All the best to everyone here, happy holidays and we'll see you next year for more trend trading (with hopefully some well chosen CT moves).
All the best.
I'll pop in from time to time but for me trading is done for another year. All the best to everyone here, happy holidays and we'll see you next year for more trend trading (with hopefully some well chosen CT moves).
All the best.
- #17,775
- Dec 17, 2012 1:12am Dec 17, 2012 1:12am
[quote=emmanuel7788;6298140]
Hi Emmanuel,
I'm trying to understand your post here. So, do you mean that actually what LE1 draw on the picture, about the arrow, is not the complete picture? Corresponding to his post number #2988, so that arrow didn't tell us about some pattern was being developed?
If so, then is it correct the way I analyze the chart like below :
Analyze on Daily chart :
1. On daily, price is open just exactly on the resistance line on 1.3168.
2. Previous daily chart failed to close above the resistance line.
3. Price still above EMA 10, above EMA 50, and above EMA 200. According to the textbook, we should hope for BUY today as we only trade away from EMA 200.
4. But looking at point 1 and 2, there is an opportunity for counter trade today.
5. We also see support on 1.3126. if we have counter trade today, this point could be our target.
Down to H4 :
1. I am adding 1 support line, 1.3062.
So on M15 :
1. If I trade CT, I will sell once price rebound to 1.3168 and targetting 1.3126.
2. If i want to trade Textbook, I'll be waiting price to go near EMA 200 on M15, and if there's a confluence today on support line I draw (1.3126) with EMA 200 (may be for the next couple hours, the EMA 200 which is now on 1.3108 will go to around 1.3126), AND I suspect Price will rebounce there, then I will take BUY trade.
but..... I am still confuse to see that Peacock Chart?
http://www.forexfactory.com/attachme...1&d=1355613531
Hi Surfer,
To tell you the truth, it took me more than 10 hours and many times going back to this 'peacock' charts posted by LE1 to try and understand why he made this chart. My mind was corrupted by my own style of trading and I failed to see the obvious. Like you I was trying to look for missing arrows, wrong arrow position,...
I'm trying to understand your post here. So, do you mean that actually what LE1 draw on the picture, about the arrow, is not the complete picture? Corresponding to his post number #2988, so that arrow didn't tell us about some pattern was being developed?
If so, then is it correct the way I analyze the chart like below :
Analyze on Daily chart :
1. On daily, price is open just exactly on the resistance line on 1.3168.
2. Previous daily chart failed to close above the resistance line.
3. Price still above EMA 10, above EMA 50, and above EMA 200. According to the textbook, we should hope for BUY today as we only trade away from EMA 200.
4. But looking at point 1 and 2, there is an opportunity for counter trade today.
5. We also see support on 1.3126. if we have counter trade today, this point could be our target.
Down to H4 :
1. I am adding 1 support line, 1.3062.
So on M15 :
1. If I trade CT, I will sell once price rebound to 1.3168 and targetting 1.3126.
2. If i want to trade Textbook, I'll be waiting price to go near EMA 200 on M15, and if there's a confluence today on support line I draw (1.3126) with EMA 200 (may be for the next couple hours, the EMA 200 which is now on 1.3108 will go to around 1.3126), AND I suspect Price will rebounce there, then I will take BUY trade.
but..... I am still confuse to see that Peacock Chart?
- #17,776
- Dec 17, 2012 1:18am Dec 17, 2012 1:18am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Last bit of trading opinion for the year. Would not be surprised to see ej and eur fall, mainly for ej to close the gap. Poss buy areas for eur the D pivot and M2 ie 1.3124 and 1.3112.
I'll pop in from time to time but for me trading is done for another year. All the best to everyone here, happy holidays and we'll see you next year for more trend trading (with hopefully some well chosen CT moves).
All the best.
Enjoy reading your posts
In trading, you have to be defensive and aggressive at the same time
- #17,777
- Dec 17, 2012 1:24am Dec 17, 2012 1:24am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
X-man the legendary conqueror of markets
- #17,778
- Dec 17, 2012 1:25am Dec 17, 2012 1:25am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
Roman's riddle is good lol. I got simple one too, if you guys have time.
All you need to do is to get a pencil or pen and connect/cross all 9 points using 4 straight lines. There is only one condition: all straight lines have to be plotted sequentially, meaning place where you stop 1st line, you need to start 2nd.
X-man the legendary conqueror of markets
- #17,779
- Dec 17, 2012 1:30am Dec 17, 2012 1:30am
- | Commercial User | Joined Aug 2011 | 2,409 Posts
X-man the legendary conqueror of markets