On-site guru & also FF member's' psychiatrist, when not drinking tea
- #15,441
- Oct 2, 2015 9:43am Oct 2, 2015 9:43am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
- #15,442
- Oct 4, 2015 6:33pm Oct 4, 2015 6:33pm
- | Commercial User | Joined May 2007 | 7,685 Posts
Attached is the weekly EUR/USD chart. I am seeing a potential ascending triangle. Although this pair is very tight and noisy at the moment, the longer-term is starting to look like we are at least trying to break higher. I think 1.15 remains the key figure for the bulls to overcome......
- #15,443
- Oct 16, 2015 1:44pm Oct 16, 2015 1:44pm
- | Commercial User | Joined May 2007 | 7,685 Posts
^^^^
Looking at the above chart, I think something is amiss with the old Greenback. In fact, if we fall below the 93 handle on the US Dollar Index, I think it will officially be the end of the uptrend in the Dollar. Longer-term moves in the GBP/USD, EUR/USD, USD/CAD, NZD/USD, and AUD/USD will be seen against the USD. Its bee a couple of years, and that is about how long these things happen.
Looking at the above chart, I think something is amiss with the old Greenback. In fact, if we fall below the 93 handle on the US Dollar Index, I think it will officially be the end of the uptrend in the Dollar. Longer-term moves in the GBP/USD, EUR/USD, USD/CAD, NZD/USD, and AUD/USD will be seen against the USD. Its bee a couple of years, and that is about how long these things happen.
- #15,446
- Mar 17, 2016 3:23pm Mar 17, 2016 3:23pm
Hi CW,
i would like to ask you a few things about the silent method in order to understand if i got it right.
Here is what i have learned reading the thread so far:
1)Open the weekly chart and draw the most obvious S/R levels where price was influeced in the past. Use round numbers for such levels (example, 1, 1.15, 1.2, 1.25 ...and so on)
2) It would be better if the weekly chart shows a clear active trend in order to catch moves in that direction ; anyway we dont exclude rangebound markets, provided the S/R are weekly obvious levels to trade from/to
3)Toggle down to 4H or D charts waiting for price to show a clear price action signal (pin bars, or outside bars) off the weekly S/R lines drawn before.
4)Once the entrance has been triggered the main target is the next key S/R level on the weekly chart, buy we look at S/R levels on the entrance timeframe to trail the stop behind . For example, lets say you entered on a 4H PB, you will check what price does at next 4H S/R; each time price breaks a S/R area on 4H you trail the stop loss behind the closest round number. In this way you can hopefully trail the stop until the main weekly target has been reached.
Here is an example of trade i took yestarday, applying the above, on EUR JPY.
The W S/R areas i identifed are 127 and 102.5.
Trend is down and yestarday there was a 2 bars PB @127.I have drawn the two closest levels on Daily that price has to break before getting to 120.5.
What do you think about it?
i would like to ask you a few things about the silent method in order to understand if i got it right.
Here is what i have learned reading the thread so far:
1)Open the weekly chart and draw the most obvious S/R levels where price was influeced in the past. Use round numbers for such levels (example, 1, 1.15, 1.2, 1.25 ...and so on)
2) It would be better if the weekly chart shows a clear active trend in order to catch moves in that direction ; anyway we dont exclude rangebound markets, provided the S/R are weekly obvious levels to trade from/to
3)Toggle down to 4H or D charts waiting for price to show a clear price action signal (pin bars, or outside bars) off the weekly S/R lines drawn before.
4)Once the entrance has been triggered the main target is the next key S/R level on the weekly chart, buy we look at S/R levels on the entrance timeframe to trail the stop behind . For example, lets say you entered on a 4H PB, you will check what price does at next 4H S/R; each time price breaks a S/R area on 4H you trail the stop loss behind the closest round number. In this way you can hopefully trail the stop until the main weekly target has been reached.
Here is an example of trade i took yestarday, applying the above, on EUR JPY.
The W S/R areas i identifed are 127 and 102.5.
Trend is down and yestarday there was a 2 bars PB @127.I have drawn the two closest levels on Daily that price has to break before getting to 120.5.
What do you think about it?
- #15,448
- Mar 18, 2016 1:32pm Mar 18, 2016 1:32pm
Hi Chris,
here a couple of analyses, waiting for todays close.
GBP AUD: price is likely to form a PB Bullish at 1.90 on the W chart (lets wait for the close), whereas on D chart there was a bullish pinbar yestarday. Today such PB on Daily seems to be broken. In such case, I think an upper move towards 1.98 is possible.
USD CHF: price broke the TL and it seems it is breaking also the S @0.975. In such case i would wait for a retrace on D/4H to go short down to 0.9450.
What do you think about such analyses?
Do you have any advice on the way to proceed to create a straightforward training program about your method?
Thanx
Mark
here a couple of analyses, waiting for todays close.
GBP AUD: price is likely to form a PB Bullish at 1.90 on the W chart (lets wait for the close), whereas on D chart there was a bullish pinbar yestarday. Today such PB on Daily seems to be broken. In such case, I think an upper move towards 1.98 is possible.
USD CHF: price broke the TL and it seems it is breaking also the S @0.975. In such case i would wait for a retrace on D/4H to go short down to 0.9450.
What do you think about such analyses?
Do you have any advice on the way to proceed to create a straightforward training program about your method?
Thanx
Mark
- #15,450
- Mar 19, 2016 2:05pm Mar 19, 2016 2:05pm
Hi Chris,
thank you for checking and commenting my posts.
I well understand you are a busy man, and i am not surpsied at all you are a "most wanted" by many funds and forex operators. The job that you have done on this thread is amazing and, by only by reading it every smart forex operator would say " Hey I absolutely need to hire that guy!!".
That said, i think i will go on posting my analysys and reading the thread, and i i'll wait for you to find a way for me to learn the method and follow you path (cause i really want to).
Here are a few charts of the "hot" pairs for next week (apart from GBPAUD and EURJPY already analyzed in the previous post):
Any comments are welcome.
Mark
thank you for checking and commenting my posts.
I well understand you are a busy man, and i am not surpsied at all you are a "most wanted" by many funds and forex operators. The job that you have done on this thread is amazing and, by only by reading it every smart forex operator would say " Hey I absolutely need to hire that guy!!".
That said, i think i will go on posting my analysys and reading the thread, and i i'll wait for you to find a way for me to learn the method and follow you path (cause i really want to).
Here are a few charts of the "hot" pairs for next week (apart from GBPAUD and EURJPY already analyzed in the previous post):
Any comments are welcome.
Mark
- #15,452
- Mar 22, 2016 4:23pm Mar 22, 2016 4:23pm
I post the update of EURJPY trade i am in.
Price reacted at the first D level around 125.2, putting today a PB in opposite direction.
That is poiting out a possible retrace back to my entry point. However the trend is still down so i keep things going, leaving stop like where it is.
Chris, how would you behave is such a situation?
Price reacted at the first D level around 125.2, putting today a PB in opposite direction.
That is poiting out a possible retrace back to my entry point. However the trend is still down so i keep things going, leaving stop like where it is.
Chris, how would you behave is such a situation?
- #15,459
- Apr 4, 2016 7:22am Apr 4, 2016 7:22am
- | Commercial User | Joined May 2007 | 7,685 Posts
Looking at this market at the moment...... WTI Crude (CFD). I like the look of a short-term range. I will be buying above the top of this candle, if it looks anything like it does now. I think we will continue to bounce around for a while - but there are a lot of moving pieces in this particular market at the moment.
- #15,460
- Apr 5, 2016 9:04am Apr 5, 2016 9:04am
- | Commercial User | Joined May 2007 | 7,685 Posts
Looking at tomorrow, we have the FOMC Meeting Minutes coming out. I would anticipate that the Fed will express concerns, etc.....and that it would show some extended dovishness. If that's the case, a bounce in the EUR/USD pair wouldn't be out of the question. I think we are eventually going to test 1.15
