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Magnetic Line Trading with KiwiOz

  • #41
  • Apr 17, 2014 8:04am Apr 17, 2014 8:04am
Quoting jsr
{quote} Hi KiwiOz. What about these ones? {image} {image}
This one has potential & is how I will trade it if we get below the support lines at around 1280. Wait for the triangle break. Could go either way.
Attached Image (click to enlarge)
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  • #42
  • Apr 17, 2014 8:10am Apr 17, 2014 8:10am
Thanks for your reply, KiwiOz

  • #43
  • Apr 17, 2014 5:27pm Apr 17, 2014 5:27pm
Bitcoin
"Mornin' All. Wave 4 STILL in progress. Ugly SOB.......Sitting at the Daily pivot which is a good sign. Should go down from here.
I'm still getting 445.
Warning, Warning. This ugly retrace has the potential to back as far as 510. The previous retrace went back 74%. This one has only got to 38% so far.....Doing so would turn this ugly duckling into a beautiful swan ABC...........
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  • #44
  • Apr 17, 2014 5:46pm Apr 17, 2014 5:46pm
Gold
Pure speculation but a possibility to be wary of...
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  • #45
  • Apr 17, 2014 6:00pm Apr 17, 2014 6:00pm
I like the look of this Ozzie set-up........
That's not to say it could still turn for another Bull run if it turns & breaks the purple resistance line. 4H chart.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audusdh4.png Size: 40 KB
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  • #46
  • Apr 18, 2014 8:46am Apr 18, 2014 8:46am
Bitcoin....... I'm seeing down, down, down.........
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: btcusddaily.png Size: 41 KB
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  • #47
  • Apr 18, 2014 8:58am Apr 18, 2014 8:58am
.ABC retrace, HnS. Divergence. It's all there....
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  • #48
  • Apr 18, 2014 12:16pm Apr 18, 2014 12:16pm
Quoting KiwiOz
I like the look of this Ozzie set-up........ That's not to say it could still turn for another Bull run if it turns & breaks the purple resistance line. 4H chart. {image} {image} {image}
Hi kiwioz, do you use your cci indicator for entries? Would your cci be similar to the default cci indicator apart from the red and green center lines?
A 1 pip gain is better than a 1 pip loss.
  • #49
  • Apr 18, 2014 8:29pm Apr 18, 2014 8:29pm
Quoting aeternum
{quote} Hi kiwioz, do you use your cci indicator for entries? Would your cci be similar to the default cci indicator apart from the red and green center lines?
Yes same as standard CCI but gives more info'
I never go against the 4H chart CCI. Gives excellent divergence.
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  • #50
  • Apr 18, 2014 9:57pm Apr 18, 2014 9:57pm
Quoting KiwiOz
Automatic support & resistance lines...... Check my profile page to find files to download if you want them. http://www.forexfactory.com/search.php?searchid=9393067 Just added this one too. Daily Pivot points. Price more often than not goes to the Daily pivot during the Asian session. S1 S2 & 2 R1 R2 quite often tie in nicely with daily target lines. {image} {file} {file}

Provided link doesn't works....
There is a winner and a loser, nothing in between.
  • #51
  • Apr 19, 2014 8:24am Apr 19, 2014 8:24am
Quoting KiwiOz
Bitcoin....... I'm seeing down, down, down......... {image} {image}
KiwiOz, a question about the 2nd Bitcoin chart here, as well as the 2nd Ozzie chart in the post just prior...

Those last targets (in gold color) seem to be calculated from thin air. What are you drawing those base lines (if that's the right word) against?

Also, how do you decide whether to use candle wicks or not? I notice sometimes you use the end of the wick as a starting point and other times you draw from the candle body...
cryptocurrency everytime
  • #52
  • Apr 19, 2014 9:56am Apr 19, 2014 9:56am
Quoting venzen
{quote} KiwiOz, a question about the 2nd Bitcoin chart here, as well as the 2nd Ozzie chart in the post just prior... Those last targets (in gold color) seem to be calculated from thin air. What are you drawing those base lines (if that's the right word) against? Also, how do you decide whether to use candle wicks or not? I notice sometimes you use the end of the wick as a starting point and other times you draw from the candle body...
Hi venzen.
Yes they are drawn out of thin air...Lol....They are speculation lines drawn in expectation of where I expect the next speed bump to be. So long as price goes as expected I should only have to make minor adjustments when price gets to those lines. You will note in both cases, the speculation line coincides with a prior target line. I guess the key is "So long as price goes as expected"
Drawing from candle bodies or wicks....... Hard to explain. Generally I find drawing from bodies gets the best results. But sometimes it just looks right to draw from wicks. It comes with experience i guess.
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  • #53
  • Apr 20, 2014 12:16am Apr 20, 2014 12:16am
Quoting KiwiOz
{quote} Hi venzen. Yes they are drawn out of thin air...Lol....They are speculation lines drawn in expectation of where I expect the next speed bump to be. So long as price goes as expected I should only have to make minor adjustments when price gets to those lines. You will note in both cases, the speculation line coincides with a prior target line. I guess the key is "So long as price goes as expected" Drawing from candle bodies or wicks....... Hard to explain. Generally I find drawing from bodies gets the best results. But sometimes it just looks...
Ah! I get it - thanks for explaining.
cryptocurrency everytime
  • #54
  • Apr 21, 2014 6:53pm Apr 21, 2014 6:53pm
Quoting KiwiOz
Bitcoin "Mornin' All. Wave 4 STILL in progress. Ugly SOB.......Sitting at the Daily pivot which is a good sign. Should go down from here. I'm still getting 445. Warning, Warning. This ugly retrace has the potential to back as far as 510. The previous retrace went back 74%. This one has only got to 38% so far.....Doing so would turn this ugly duckling into a beautiful swan ABC........... {image}
Still an ugly duckling. Retrace got to a double top at 504......Double tops (bottoms) act similar to an H n S. Target for this is 468. Whether it keeps going down from there or whether we are in wave 2 of 5 of a major move North is still to be seen.
I have been using a strong telescope to find a reason to look North on the big picture. I may have found it.
If the move from 340 to 540 was wave 1 & wave 2 is in progress now as an ABC, this would end wave 2 at 412. This would also tie in with the inverted HNS at the top of wave 1......
I am however still prepared for a continuation South to around 250. One step at a time.
Attached Image(s) (click to enlarge)
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  • #55
  • Edited 7:38pm Apr 21, 2014 7:12pm | Edited 7:38pm
nice thread..i like consolidation on 1 hr OZ and have gone long side I have a cluster of my own magnetic lines going consolidation.. thinking short term picture not looking so good at mo BUT we see.....have taken opposite side of coin GBP AD EUAD.. notice clear CCI diverge on 4 hr.. may be totally wrong thou
Attached Image (click to enlarge)
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  • #56
  • Apr 21, 2014 8:14pm Apr 21, 2014 8:14pm
Quoting danc
nice thread..i like consolidation on 1 hr OZ and have gone long side I have a cluster of my own magnetic lines going consolidation.. thinking short term picture not looking so good at mo BUT we see.....have taken opposite side of coin GBP AD EUAD.. notice clear CCI diverge on 4 hr.. may be totally wrong thou {image}
I agree. A nice trade down to 0.9290 is likely with a speed bump at 0.9300........
Attached Image (click to enlarge)
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  • #57
  • Apr 21, 2014 8:27pm Apr 21, 2014 8:27pm
Gold is certainly getting very interested in the downside.......
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  • #58
  • Apr 21, 2014 8:49pm Apr 21, 2014 8:49pm
Quoting danc
nice thread..i like consolidation on 1 hr OZ and have gone long side I have a cluster of my own magnetic lines going consolidation.. thinking short term picture not looking so good at mo BUT we see.....have taken opposite side of coin GBP AD EUAD.. notice clear CCI diverge on 4 hr.. may be totally wrong thou {image}
I out now wit nice little earn out OZ and GB/Ad.. and EUAD.. picture OZ 15 m
Attached Image (click to enlarge)
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  • #59
  • Apr 21, 2014 8:50pm Apr 21, 2014 8:50pm
Quoting KiwiOz
Gold is certainly getting very interested in the downside....... {image}
MMMMMMMMMMMMM
  • #60
  • Apr 21, 2014 9:45pm Apr 21, 2014 9:45pm
Quoting danc
{quote} I out now wit nice little earn out OZ and GB/Ad.. and EUAD.. picture OZ 15 m {image}
Good scalping, but I am not into that. I am into the big picture.with longer term trades.
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