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Defensive Trading the Force Continued

  • #41
  • Jan 11, 2016 6:18pm Jan 11, 2016 6:18pm
Quoting fxforfun
What about GBP/USD? {image}
Good pair. You can see perfect trending all the way down to the range its in now. Lots of good continuations ive circled in blue. Looking at the chart and all the resistance barriers in place for the bulls id say its likely headed bear. Fewer obstacles and it makes more sense. The chart looks very appealing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 77 KB
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  • #42
  • Jan 11, 2016 6:24pm Jan 11, 2016 6:24pm
Re Gold,

The chart shows good separation at what I believe will be key support levels. The space in between the support levels leave room for retracement and continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.png Size: 74 KB
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  • #43
  • Jan 12, 2016 3:36am Jan 12, 2016 3:36am
Quoting forexjedi
{quote} I can see your thought process. It is possible if the price closed at that level the PA could carry the price down to the lowest TL and then likely bounce for a go back to the top of the triangle to hit the resistance TL.
Thats my plan Jedi .. may the force be with you ..
  • #44
  • Jan 12, 2016 11:44am Jan 12, 2016 11:44am
just returning from some travels. I'll update this thread in a few hours.
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  • #45
  • Jan 12, 2016 11:51am Jan 12, 2016 11:51am
Quoting forexjedi
{quote} Good pair. You can see perfect trending all the way down to the range its in now. Lots of good continuations ive circled in blue. Looking at the chart and all the resistance barriers in place for the bulls id say its likely headed bear. Fewer obstacles and it makes more sense. The chart looks very appealing. {image}
Did anyone trade this pair with my method based on my chart analysis? If so please post your results. The pair was gbp usd.
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  • #46
  • Jan 12, 2016 1:25pm Jan 12, 2016 1:25pm
Quoting forexjedi
The gold chart above shows massive range for a bearish movement offering good Risk Reward. This chart is at the top of my list.
Gold has made its bearish movement and is currently in retracement and im looking for continuation. When I left you with this chart the price was at the yellow trend line. You can see how it broke support then made a retracement followed by a continuation for some pips. I would add to a position here on continuation of the trend.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.png Size: 77 KB
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  • #47
  • Jan 12, 2016 2:03pm Jan 12, 2016 2:03pm
Hi Forexjedy, thanks for your thread, it is, very nice and fit my stile. For continuation of the trend you mean some price action like engulfing candle, inside out, pin bar, etc...?
Thanks!
Syl
  • #48
  • Jan 12, 2016 2:11pm Jan 12, 2016 2:11pm
Quoting sylbolid
Hi Forexjedy, thanks for your thread, it is, very nice and fit my stile. For continuation of the trend you mean some price action like engulfing candle, inside out, pin bar, etc...? Thanks! Syl

Good question. From the chart above, you can seethe bearish engulfment on the last candle at the green line. I draw a tiny TL to trace the retracement and when the price closes above or below it depending on trend direction I consider it continuation. You may also notice how the price retraced almost directly at the first support on the gold chart above. Support/resistance levels are TP levels. In this case with gold I closed half my position and moved my stop to BE. Ill add the half position I closed back into my position on continuation.
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  • #49
  • Jan 12, 2016 2:16pm Jan 12, 2016 2:16pm
Quoting sylbolid
Hi Forexjedy, thanks for your thread, it is, very nice and fit my stile. For continuation of the trend you mean some price action like engulfing candle, inside out, pin bar, etc...? Thanks! Syl
The orange lines are support levels. The support levels are based on the retracement and continuation of the previous uptrend to the left.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.png Size: 79 KB
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  • #50
  • Jan 12, 2016 2:27pm Jan 12, 2016 2:27pm
I put a poll on page 1. Heres the link http://www.forexfactory.com/showthread.php?t=573589 please take the time to vote.
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  • #51
  • Jan 12, 2016 2:52pm Jan 12, 2016 2:52pm
AUD USD

Heres something to keep our eyes on. MASSIVE potential for a bullish movement right up to the blue Trend Line in the top right nad corner of the screen shot. The red lines going up the chart are resistance lines where I expect the price to retrace before the trend continues. Some possible scenarios for the upcoming price action (PA) are also plotted.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 85 KB
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  • #52
  • Jan 12, 2016 3:01pm Jan 12, 2016 3:01pm
The pink circles on the chart show previous trend continuations from the bearish trend. As the price reverses into bullish mode these areas become resistance. This is why I drew the red lines as resistance lines. At these levels, traders that are short will likely have stop loses but also, traders holding med term positions will be looking to add to their positions at these levels. So in order for the price to move up there needs to be more volume going long then short. The price will likely retrace at these levels because do to traders closing positions and short traders adding to positions. The continuation finally happens when one side gives in.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 90 KB
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  • #53
  • Jan 12, 2016 3:08pm Jan 12, 2016 3:08pm
AUD USD

Regarding this pair. You cant be biased toward a movement. Its also like that this pair could continue its bearish movementas there is almost no support below the 0.6900 level. In the end its all about whats most likely based on the facts, experience and logic.
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  • #54
  • Jan 12, 2016 3:37pm Jan 12, 2016 3:37pm
Why this works,

What's happening on these charts? By using two 24 moving averages we are capturing the trend from the daily chart. The leading indicator which is the yellow MA is giving us the direction. So what I am doing is trading the momentum of the daily trend on the 1H chart. I am using long term momentum to make med/short term trades. By drawing our support and resistance trend lines on the 1H chart is how I capture the med/short term trend. When the trend match up its go time. I wait for the trend to start and then i wait for a retracement. On continuation is when I open my trade.
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  • #55
  • Jan 12, 2016 3:44pm Jan 12, 2016 3:44pm
Does anyone have a chart they want to see put up here?
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  • #56
  • Jan 12, 2016 3:48pm Jan 12, 2016 3:48pm
Any chart within Forex to respect FF.
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  • #57
  • Jan 12, 2016 3:58pm Jan 12, 2016 3:58pm
AUD USD,

Theres so much range on this chart for a solid trade. Due to all the resistance (red lines) it could be a rough ride. Its possible the price could get stuck in a range half way up to the upper resistance trend line but by that time you should have pips locked in. Obviously im going to wait for the setup.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 74 KB
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  • #58
  • Jan 12, 2016 4:09pm Jan 12, 2016 4:09pm
AUD USD

For me the key to getting into this trade would be to wait for a close above the green horizontal line and wait for the retracement to form then enter on cuntinuation with a stop below the closest support.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 75 KB
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  • #59
  • Jan 12, 2016 4:18pm Jan 12, 2016 4:18pm
Quoting forexjedi
{quote} Did anyone trade this pair with my method based on my chart analysis? If so please post your results. The pair was gbp usd.
I caught this trade yesterday......gbp/usd.........good for 80 pips....had to go to bed.....but it went for 180.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDecnH1.png Size: 30 KB
  • #60
  • Jan 12, 2016 4:23pm Jan 12, 2016 4:23pm
Quoting kaiser soze
{quote} I caught this trade yesterday......gbp/usd.........good for 80 pips....had to go to bed.....but it went for 180. {image}
Good job. Some rock solid movement. Theres almost nothing holding this pair up right now GBP USD. If it continues to drop I bet it hit the 1.4200 level.
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