Two trendlines, ultimate reward
- #503
- May 11, 2016 3:11am May 11, 2016 3:11am
- Joined Jan 2010 | Status: .... | 3,910 Posts
gu weekly.
- #504
- May 18, 2016 3:59am May 18, 2016 3:59am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
{quote} Hi all and smikesterI have AUDUSD here. Problem is maybe in my MT4 with chart on AUDUSD. GAP between Daily and Weekly TL's. {image} {image} {image}
Gone to a better place
- #505
- Jun 1, 2016 7:16pm Jun 1, 2016 7:16pm
- Joined Jan 2010 | Status: .... | 3,910 Posts
this thread dead too....
too bad.
here possible EG setup.
I had a few EG bear setups that failed.
Will be monitoring the 1m timeframe to sell a break.
too bad.
here possible EG setup.
I had a few EG bear setups that failed.
Will be monitoring the 1m timeframe to sell a break.
- #506
- Jun 2, 2016 4:03am Jun 2, 2016 4:03am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #507
- Edited 4:50am Jun 2, 2016 4:14am | Edited 4:50am
- Joined Jan 2010 | Status: .... | 3,910 Posts
{quote} I have a slight problem with the lower line. How is that valid? Interestingly your lines intersect at .7800, which is also a 61.8% retracement.
connect 2 significant points that have not been broken much and you have support/resistance.
Like this:
http://www.forexfactory.com/showthre...49#post8957649
or
http://www.forexfactory.com/showthre...16#post8947416
I messed up with my ABCD pattern. did not get in, so much opportunity,
I believe we may se 0.765 again where we will have an opportunity towards 0.786 (fib number).
I thought before we could see 0.753 but am not so sure about it anymore, time is running out.
The top area should be retested from above so taking profit there is a good idea.
So will try to sell at lines setup, buy at bottom blue area and close/sell at top blue area. After retest blue area from above i buy it back. But be careful it could go to 0.753 although it seems unlikely now.
Bit messy chart but if you focus you'll understand.
- #508
- Jun 2, 2016 5:14am Jun 2, 2016 5:14am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Very grateful for your sharing your hard work. This is all I've got for this pair at the moment:
These horizontal lines are labelled W = weekly; M = monthly; and BRN = big round number, etc. Significant pivots in the past. I sometimes miss some important ones. Interesting how the price got jammed?
So a scenario could be break to upside, .7800, then short to retest this level and so on. Tradeable anyway. Cheers.
These horizontal lines are labelled W = weekly; M = monthly; and BRN = big round number, etc. Significant pivots in the past. I sometimes miss some important ones. Interesting how the price got jammed?
So a scenario could be break to upside, .7800, then short to retest this level and so on. Tradeable anyway. Cheers.
Gone to a better place
- #509
- Jun 2, 2016 5:31am Jun 2, 2016 5:31am
- Joined Jan 2010 | Status: .... | 3,910 Posts
Very grateful for your sharing your hard work. This is all I've got for this pair at the moment: {image} These horizontal lines are labelled W = weekly; M = monthly; and BRN = big round number, etc. Significant pivots in the past. I sometimes miss some important ones. Interesting how the price got jammed? So a scenario could be break to upside, .7800, then short to retest this level and so on. Tradeable anyway. Cheers.
on lower tf you can see these lines being hit to the pip.
The bigger one i posted may work like a magnet because its better and close by.
- #510
- Jun 2, 2016 9:19am Jun 2, 2016 9:19am
- Joined Jan 2010 | Status: .... | 3,910 Posts
{quote} This is a resistance area. on lower tf you can see these lines being hit to the pip. The bigger one i posted may work like a magnet because its better and close by. {image}
i think the first setup was missed. confluence is pretty much lost now.
- #511
- Jun 2, 2016 4:11pm Jun 2, 2016 4:11pm
- Joined Jan 2010 | Status: .... | 3,910 Posts
It broke down and made congestion, may take some time to turn the ship around.
try to short it to given level like smikester said.
could become inverted H&S pattern.
try to short it to given level like smikester said.
could become inverted H&S pattern.
Hi cassyd, Both setups seems promising and great for reactivate this frum Here you will have mine.. USD JPY.. {image}
.... all the best to those who have taken this trade.
Hi all IMO too many t/ls are being drawn and all that does is create confusion for yourselves. I spoke about this some while back in this thread and provided the simple means to easily identify the meaningful or optimum tl which I called hidden t/l for ease. Look back in the thread at my posts and study what I said carefully along with quite a few pictorial examples of live trades that I entered. One t/l is all that is ever needed....it's all there in my previous posts, but it got swamped by the ridiculous amount of others posting lines here...
all the best
- #520
- Aug 2, 2016 5:42am Aug 2, 2016 5:42am
- Joined Jan 2014 | Status: Trader | 1,784 Posts
[quote=cassyd;9062230]{quote} Hi LL. I wish I understood your method. I tried back then when you introduced it and now when you mentioned it but I failed. It's not your fault I am just a slow learner myself all the best[/quote
Using a single t/l is like angling, and that too needs practice, trial and error also to become successful.
The square shows the best waters, the t/l is the bait, the t/l break is the hook, and the t/p targets are the fish size you're looking to land, and the stops can be considered as your overall effort.
All of this means one thing, learn to fish.....because wishing to fish won't work!
all the best[/quoteUsing a single t/l is like angling, and that too needs practice, trial and error also to become successful.
The square shows the best waters, the t/l is the bait, the t/l break is the hook, and the t/p targets are the fish size you're looking to land, and the stops can be considered as your overall effort.
All of this means one thing, learn to fish.....because wishing to fish won't work!