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  • #11,521
  • Feb 5, 2013 2:16pm Feb 5, 2013 2:16pm
Quoting Saxon
EU got a last min push which negated my formation. Was looking for a nice round "spout" formation with a doji to confirm, but now we have something messy.
If EU can break this H1 fib and move to the next, there is a nice quick tight PPZ trade up there.
Are talking about this?
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  • #11,522
  • Feb 5, 2013 2:27pm Feb 5, 2013 2:27pm
Ya, draw and FE on that last little swing and you got it
  • #11,523
  • Feb 5, 2013 2:31pm Feb 5, 2013 2:31pm
It's ST but you can still probably get a few off of it.
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  • #11,524
  • Feb 5, 2013 2:42pm Feb 5, 2013 2:42pm
Quoting Saxon
It's ST but you can still probably get a few off of it.
Got it Thanks!
  • #11,525
  • Feb 5, 2013 6:33pm Feb 5, 2013 6:33pm
Quoting Forexgogo
Are talking about this?
Hey Forexgogo/Saxon,

Just wondering, what's a "spout" formation?
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  • #11,526
  • Feb 5, 2013 10:21pm Feb 5, 2013 10:21pm
Quoting TradeYourEdg
Hey Forexgogo/Saxon,

Just wondering, what's a "spout" formation?
You're going to have to use your imagination with me on this one:
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  • #11,527
  • Feb 6, 2013 9:20pm Feb 6, 2013 9:20pm
Quoting Saxon
You're going to have to use your imagination with me on this one:
real imagination at work... hahahaha....

I'm assuming you're analysis is to follow the "flow" of tea/coffee when it comes out i.e. short?
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  • #11,528
  • Feb 7, 2013 12:09pm Feb 7, 2013 12:09pm
Quoting TradeYourEdg
real imagination at work... hahahaha....

I'm assuming you're analysis is to follow the "flow" of tea/coffee when it comes out i.e. short?
Ya, I generally don't like the spout to be higher than the body, but you have the general idea. There is a fine line between this and an ascending triangle though, so it has to be pretty on the spot.
  • #11,529
  • Feb 7, 2013 12:33pm Feb 7, 2013 12:33pm
Quoting Saxon
Ya, I generally don't like the spout to be higher than the body, but you have the general idea. There is a fine line between this and an ascending triangle though, so it has to be pretty on the spot.
nice call, and image of the setup too.......
  • #11,530
  • Feb 7, 2013 8:02pm Feb 7, 2013 8:02pm
Quoting Saxon
Ya, I generally don't like the spout to be higher than the body, but you have the general idea. There is a fine line between this and an ascending triangle though, so it has to be pretty on the spot.
it would have been a beautiful double top if price stopped at that level.. tho I'll just call it a final test.. not an exciting name compared to yours.. hehe

interesting point on the triangle and I do agree.. they are quite different behaviours

thanks for sharing..
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  • #11,531
  • Feb 10, 2013 8:00pm Feb 10, 2013 8:00pm
Some of my charts. Also, watching AU H4 for a potential inverse HS. We shall see though.
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  • #11,532
  • Feb 10, 2013 8:03pm Feb 10, 2013 8:03pm
Quoting TradeYourEdg
real imagination at work... hahahaha....

I'm assuming you're analysis is to follow the "flow" of tea/coffee when it comes out i.e. short?
ya, like I said, it's a fine line between this formation and a ascending triangle. This one you look for PA to round off and end with a doji or two. If PA doesn't break the previous high, even better. But you got the idea down, it should pour out.
  • #11,533
  • Feb 10, 2013 8:20pm Feb 10, 2013 8:20pm
Just stumbled upon this thread. I just placed a short on the CHFJPY 1D @ 101 with first TP at 99.85 and second at 99.00. Looking for a nice pull back after topping out.

EDIT: I am kind of eying a supply zone around 97ish. May unload there.
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When the facts change I change my mind, what do you do sir
  • #11,534
  • Feb 11, 2013 1:49pm Feb 11, 2013 1:49pm
These two are crazy similar, anyone else seeing this? HA H1 chart also agrees
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  • #11,535
  • Feb 11, 2013 1:53pm Feb 11, 2013 1:53pm
Quoting Saxon
These two are crazy similar, anyone else seeing this? HA H1 chart also agrees
That's if PA doesn't drop below swing low right now...
  • #11,536
  • Feb 11, 2013 5:00pm Feb 11, 2013 5:00pm
Quoting Saxon
These two are crazy similar, anyone else seeing this? HA H1 chart also agrees
yes that it the twin egg pattern....
  • #11,537
  • Feb 11, 2013 7:24pm Feb 11, 2013 7:24pm
Some of what I'm looking at for AU
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  • #11,538
  • Feb 11, 2013 8:22pm Feb 11, 2013 8:22pm
Quoting Saxon
Some of what I'm looking at for AU
Ditto

But I'm looking for a support around 1.02, and 1.618 fib

potential range bound..
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  • #11,539
  • Feb 11, 2013 8:24pm Feb 11, 2013 8:24pm
Quoting Saxon
ya, like I said, it's a fine line between this formation and a ascending triangle. This one you look for PA to round off and end with a doji or two. If PA doesn't break the previous high, even better. But you got the idea down, it should pour out.
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  • #11,540
  • Feb 11, 2013 8:29pm Feb 11, 2013 8:29pm
I'm watching Gold, looking for a pullback to 1653.5 ish before a short
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