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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,781
  • May 21, 2015 1:25am May 21, 2015 1:25am
Morning! GU, strong support, PP and MA, divergence, engulfing
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  • #9,782
  • May 21, 2015 1:46am May 21, 2015 1:46am
Quoting fxnikolaev
Morning! GU, strong support, PP and MA, divergence, engulfing {image}
Nice one, fxn. Gone a lot higher since. Missed this unfortunately, due to other duties.
  • #9,783
  • May 21, 2015 1:48am May 21, 2015 1:48am
Hi EV,,,yes..got your message...and understood. Happy trades all
  • #9,784
  • May 21, 2015 1:56am May 21, 2015 1:56am
Quoting eyevoltage
{quote} Nice one, fxn. Gone a lot higher since. Missed this unfortunately, due to other duties.
much higher
  • #9,785
  • May 22, 2015 1:37am May 22, 2015 1:37am
G'day guys
took a long trade on the EUR/USD today
bounce off MR1 / round number.
closed due to Draghi speech was coming.
+8 pips.
not sure how to add chart yet
Cheers
P.S did anyone get the USD/CHF short?
Attached Image (click to enlarge)
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  • #9,786
  • May 22, 2015 1:47am May 22, 2015 1:47am
Did that chart work for everybody?
Cheers
  • #9,787
  • May 22, 2015 2:15am May 22, 2015 2:15am
Quoting coastie
G'day guys took a long trade on the EUR/USD today bounce off MR1 / round number. closed due to Draghi speech was coming. +8 pips. not sure how to add chart yet Cheers P.S did anyone get the USD/CHF short? {image}

Looks like a good trade, maybe next time move SL to breakeven, was your target R1?
  • #9,788
  • May 22, 2015 2:26am May 22, 2015 2:26am
Thanks PixeLM,
target was MR2/ 1.2000.
still may go.
  • #9,789
  • May 22, 2015 2:47am May 22, 2015 2:47am
Quoting coastie
Thanks PixeLM, target was MR2/ 1.2000. still may go.
Its Friday, anything can happen!

Im out for the week, hardly traded this week at all. Next week should be better time wise.
  • #9,790
  • May 22, 2015 3:08am May 22, 2015 3:08am
Quoting coastie
Did that chart work for everybody? Cheers
Hi coastie. In my view, price was just consolidating where you entered your trade. It all looks very cramped in there, mate, and my point of view is that it probably would have been better to see if there was a breakout above R1, which actually occurred. Getting in there would have got you around 20 pips or so. Just my opinion, mate, but I reckon that it's always better to stand back when price is consolidating, and wait for a breakout.
  • #9,791
  • May 22, 2015 3:15am May 22, 2015 3:15am
Thanks EV,
One question?
Is that classed as a harami or engulfing? Where the blue triangle is.
As you can see from my chart, I re-entered after there was no real impact from the Draghi speech.
Cheers
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Click to Enlarge Name: EURUSDM15.png Size: 33 KB
  • #9,792
  • May 22, 2015 3:53am May 22, 2015 3:53am
Quoting coastie
Thanks EV, One question? Is that classed as a harami or engulfing? Where the blue triangle is. As you can see from my chart, I re-entered after there was no real impact from the Draghi speech. Cheers {image}
Might be my eyes, mate, but I can't see either! Is it the first triangle or the second triangle you're on about? By the way, I've only just realized that that consolidation area formed a bullish triangle pattern.
Attached Image
  • #9,793
  • May 22, 2015 4:11am May 22, 2015 4:11am
LOL!!!
I supposed to say the blue rectangle not triangle, sorry.
its the 2 candles inside the blue rectangle. but looking at your chart it looks different to mine.
in my chart the second candle in the rectangle (green candle) opened 0.7 pips higher than the previous candles close. does that classify as a harami?
I never even saw the bullish triangle, but did notice the lows getting higher. if that makes sense.
thanks for your help,
cheers
  • #9,794
  • May 22, 2015 4:24am May 22, 2015 4:24am
Quoting coastie
LOL!!! I supposed to say the blue rectangle not triangle, sorry. its the 2 candles inside the blue rectangle. but looking at your chart it looks different to mine. in my chart the second candle in the rectangle (green candle) opened 0.7 pips higher than the previous candles close. does that classify as a harami? I never even saw the bullish triangle, but did notice the lows getting higher. if that makes sense. thanks for your help, cheers
If you're referring to the large pin candle and the green candle that follows it, then it classifies as a "sash" pattern. A harami is when the body of a candle is totally engulfed by the previous candle's body. Hope that makes sense, mate.
Gotta go now......lots to do today.
God bless
  • #9,795
  • May 22, 2015 5:04am May 22, 2015 5:04am
A pattern is a pattern...regardless of time frame. This is an hourly chart... I didn't trade this...just an observation. Happy trades all
Billy
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  • #9,796
  • May 24, 2015 10:38pm May 24, 2015 10:38pm
Hi guys, would you think this qualifies as a bull flag?
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  • #9,797
  • May 24, 2015 11:59pm May 24, 2015 11:59pm
Quoting apo
A pattern is a pattern...regardless of time frame. This is an hourly chart... I didn't trade this...just an observation. Happy trades all Billy {image}
That is failed pennant
  • #9,798
  • May 25, 2015 12:00am May 25, 2015 12:00am
Quoting PixeLM
Hi guys, would you think this qualifies as a bull flag? {image}
Flag, but measure ur target, it is not the best trade
  • #9,799
  • May 25, 2015 12:02am May 25, 2015 12:02am
Quoting PixeLM
Hi guys, would you think this qualifies as a bull flag? {image}
I would say yes.
Plus its now sitting on previous support and MR1.
  • #9,800
  • May 25, 2015 12:03am May 25, 2015 12:03am
Quoting fxnikolaev
{quote} Flag, but measure ur target, it is not the best trade
I agree, way too early with low volatility, I suspect a pullback before more bull.
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