Watch out for divergence.
Attached Image (click to enlarge)
4 Hour Strategy (MACD)
- #26,504
- Dec 20, 2013 12:09pm Dec 20, 2013 12:09pm
- | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
{quote} {quote} I have nothing to say too you, horrible person...It's only 2.5 degrees here this morning...grrrr
I am seeing head and shoulders everywhere, some not working some working, BUT I am seeing them on the chart which is the beginning.
Yaakruay I also have problems identifying patterns in charts. I stumbled upon a website called compassfx. Maybe you’ve been there. Just type in compassfx in google and go to video library. There are A LOT of excellent videos to watch and it’s free. I am still working through those videos. They cover a lot of topics. I just started with a topic called chart patterns. There they talk about patterns. I also did the Fibonacci topic which I found very very very helpful. I use Fibonacci extensions to predict profit targets. There are even videos about basic Fundamentals. However I’m not a big fan of the strategy they use on that website. (to many rules, everything repaints so it’s difficult to backtest)
- #26,506
- Dec 20, 2013 12:33pm Dec 20, 2013 12:33pm
{quote} Thanks everyone for your hospitality. And Trademin for your response. I agree that the MA’s were to flat. And like Yaakruay said the 8&21ema was like spaghetti. I went back in history and looked for better setups. See attachments. Next time wait for price to break out of the consolidation period and pull back. I just need to be patient and practice more. Sometimes I find it difficult to determine a consolidation "block". You make it look so easy. Practice Practice Practice {image} {image}
here is something for you,
"Sometimes I find it difficult to determine a consolidation "block".
To get less confuse about consolidation is to rely on the 21ema, just concentrate on the 21ema on the 4hrs chart. Look now where the 21ema is flat, you should see a consolidation. Look to imagine a rectangle that would contain the candles. If you don’t see a flat 21ema, there is no consolidation. Refer always to the 21ema. Why referring to the 21ema: it is because the 21ema is where we take action from.
have a nice day,
Yvon
- #26,507
- Dec 21, 2013 12:12am Dec 21, 2013 12:12am
- | Joined Dec 2013 | Status: It's all about S/R | 256 Posts
{quote} hi, here is something for you, "Sometimes I find it difficult to determine a consolidation "block". To get less confuse about consolidation is to rely on the 21ema, just concentrate on the 21ema on the 4hrs chart. Look now where the 21ema is flat, you should see a consolidation. Look to imagine a rectangle that would contain the candles. If you don’t see a flat 21ema, there is no consolidation. Refer always to the 21ema. Why referring to the 21ema: it is because the 21ema is where we take action from.
- #26,509
- Dec 21, 2013 11:58am Dec 21, 2013 11:58am
Hi all...
Xmas is just few days ahead. Remembering all the times celebrating Christmas Eve while I was on Catholic highschool
in Jakarta.
Singing "O Holy Night" while carol by candlelighting.
It is a beautiful memory
========================
I was still shorting EU at 1.3653. SL at 1.3730 hope provide enough breathing room.
Will watch the H4 and weekly charts closely, as I am expecting EU forming the right shoulder both in MACD and candlesticks.
Target 1.3570 for now. Second target is to wait until the right shoulder fully formed.
========================
There is some view on UJ as well ^^
Salam sukses,
Arrow
Xmas is just few days ahead. Remembering all the times celebrating Christmas Eve while I was on Catholic highschool
in Jakarta.
Singing "O Holy Night" while carol by candlelighting.
It is a beautiful memory
========================
I was still shorting EU at 1.3653. SL at 1.3730 hope provide enough breathing room.
Will watch the H4 and weekly charts closely, as I am expecting EU forming the right shoulder both in MACD and candlesticks.
Target 1.3570 for now. Second target is to wait until the right shoulder fully formed.
========================
There is some view on UJ as well ^^
Salam sukses,
Arrow
Own your own mind.
- #26,511
- Dec 21, 2013 12:15pm Dec 21, 2013 12:15pm
Damn!! No trades for me today. AUDUSD did not give TC on my chart. NZDUSD candle closed right on my trendline. Did not want to risk it. USDCAD did not show TC on my chart. If anyone made pips today please email me some.
AUDUSD may performing a pullback both on H4 and Daily chart.
==================
Dear Mr Philip Nel,
I always know you are here with us somehow. What a great teaching sir.
Thank you very much.
Tuhan berkati Philip Nel
Own your own mind.
- #26,513
- Dec 21, 2013 2:10pm Dec 21, 2013 2:10pm
Hi. Just to say thanks to all the people that keep this thread alive. A merry Christmas and a wonderful 2014 to all of you. May you make lots of pips.
...glad to hear from you,
Yvon
- #26,517
- Dec 22, 2013 2:57am Dec 22, 2013 2:57am
- | Commercial User | Joined Nov 2006 | 2,223 Posts
Here is the AudUsd video according to the Market Rhythm.
- #26,518
- Dec 22, 2013 5:06am Dec 22, 2013 5:06am
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
Here is a little video. Hope it can help someone. {file}
thank you .
merry Christmas and happy new year.
A chart helps those who can read it.
