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  • #41
  • Edited 10:27am Dec 15, 2010 2:04am | Edited 10:27am
Quoting Gambler180
GBP/USD has broken a trend line on the H4 chart and I think some pips could be earned by selling if price breaks below support on the hourly chart.
I was right. Because of bad news in UK the GBP has fallen in value and I earned 37 pips

Edit: If I hadn't closed the position I would have had a floating profit of more than 150 pips by now.
If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #42
  • Dec 19, 2010 7:37am Dec 19, 2010 7:37am
This is a very nice pattern. Flat-top Triangle. The price is pushing upwards and i expect it will break the upper trendline. And i will trigger my trade once I see Breakout,Pullback and continuation pattern.
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  • #43
  • Edited 9:28am Dec 19, 2010 9:08am | Edited 9:28am
Nice to see how long term traders do , may watch at time .

though now/never not trading this pair but seeing some long term interest & may trade next , eurchf, just opposite weakest to strongest perhaps next .

bear continued & can even do next towards 1.2600 but will look for the bounce for pullback towards 1.3765 with or without 1.4425 & 1.4700. will take long at 1.2862 breaks up & hold as of lower tf tl or at ltl 1.2600 any come first.

fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #44
  • Dec 19, 2010 11:53am Dec 19, 2010 11:53am
Another good long term trade possible is usdjpy I see & will look for it next.

flat top ok but price failed closed daily tl close price at 83.88 but next may do easily & so will not wait it next on daily tf rather h4 close below 83.70 may take the indication breakout below for next 83.24 areas confirmation & further break to 82.17 to 81.68 , both for long entry .

If next breakout out upside same H4 utl close price 84.35 then think of long start for 84.53 break confirmation .

anyway 82.17 / 81.68 and 84.35/53 whichever come first will long to see .
possible target 112.84,115.25,126.81 .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #45
  • Dec 20, 2010 8:02am Dec 20, 2010 8:02am
Looks like my prediction is right
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  • #46
  • Dec 20, 2010 4:42pm Dec 20, 2010 4:42pm
Just waiting for the price to bounce off the upper trendline.
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  • #47
  • Edited 12:37am Dec 22, 2010 12:18am | Edited 12:37am
Quoting fontu
Nice to see how long term traders do , may watch at time .

though now/never not trading this pair but seeing some long term interest & may trade next , eurchf, just opposite weakest to strongest perhaps next .

bear continued & can even do next towards 1.2600 but will look for the bounce for pullback towards 1.3765 with or without 1.4425 & 1.4700. will take long at 1.2862 breaks up & hold as of lower tf tl or at ltl 1.2600 any come first.

fontu
bear continued below 1.2600 , ok & now taking a long to see if can do long term here against strong down .

wherase for usdjpy , price rightly about test 83.44 & exptected break down , not ready yet long term long yet .
Not a long term trader , hope x-trade & others doing evaluate the cases.
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #48
  • Dec 22, 2010 12:46am Dec 22, 2010 12:46am
Nice thread. Most people are trading to try and win a quick buck...nice to see other longer term traders.

Here is a screenshot of my layout w/ 1hr charts, and the other is E/U on a weekly with very very simple analysis. Basically, if we break the bottom here, I expect to see 1.24, and if we break to the upside, I expect to see 1.40.

I play daily charts too.

http://i1142.photobucket.com/albums/...w25/chart1.jpg

http://i1142.photobucket.com/albums/...w25/chart2.jpg
  • #49
  • Dec 22, 2010 2:14am Dec 22, 2010 2:14am
Hello guys,

Just would like to share some of my analysis as well.

On a side note, I would like to ask a question that has been bugging me for quite a long while;

For horizontal Support/Resistance Lines (not trendlines), do you try to connect the HIGHS/LOWS of the candles together or the CLOSING PRICE, or a MIX OF BOTH as long as it looks relevant. Would Greatly appreciate if a seasoned trader share his view? I feel that it is important especially for breakout trading, drawing correct horizontal lines of support and resistances can make a big difference.

A big thank you and regards!
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  • #50
  • Dec 22, 2010 12:12pm Dec 22, 2010 12:12pm
Quoting Maveri4k
Hello guys,

Just would like to share some of my analysis as well.

On a side note, I would like to ask a question that has been bugging me for quite a long while;

[size=3][b]For horizontal Support/Resistance Lines (not trendlines), do you try to connect the HIGHS/LOWS of the candles together or the CLOSING PRICE, or a MIX OF BOTH as long as it looks relevant. Would Greatly appreciate if a seasoned trader share his view? I feel that it is important especially for breakout trading, drawing correct horizontal...
Mav

Ive been trading for several years, although unfortunatly, not yet full-time but here is my 2 cents. Some traders see highs and lows as price rejection and ignore them, because price was not able to close at those levels.

I feel differently. In my opinion, as long as price GETS to a certain price level, then that IS support or resistance. Highs and lows have psychological impacts on peoples minds.

If highs and lows were not important, then why does cnbc along with everyone else tend to talk about major highs and lows being broken?...obviously these are important levels, and should not be ignored.

Ultimately, its your call, as I don't think there is really a right or wrong answer.
  • #51
  • Dec 22, 2010 12:46pm Dec 22, 2010 12:46pm
Waiting for a break on e/u.

http://i1142.photobucket.com/albums/...5/eurusd-1.jpg
  • #52
  • Dec 22, 2010 10:04pm Dec 22, 2010 10:04pm
Quoting fontu
bear continued below 1.2600 , ok & now taking a long to see if can do long term here against strong down .

wherase for usdjpy , price rightly about test 83.44 & exptected break down , not ready yet long term long yet .
Not a long term trader , hope x-trade & others doing evaluate the cases.
fontu
Bear continued eurchf after a test entry , ok , next entry long will wait for below 1.22 & keep the lowest one ultimately till works .

usdjpy , broke out as expected & will wait for the entry long , not scalping.
fontu
Attached Images
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #53
  • Edited 12:34pm Dec 23, 2010 12:18pm | Edited 12:34pm
Quoting fontu
Bear continued eurchf after a test entry , ok , next entry long will wait for below 1.22 & keep the lowest one ultimately till works .

usdjpy , broke out as expected & will wait for the entry long , not scalping.
fontu
the long entries work ok today , positive . will kepp the lowest one 1.2458 as chances may be low next .
anyway good to trade long term & check once per day .

next usdjpy long may not ready yet & another pair usdchf ,waiting entry long . 0.9545 or low .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #54
  • Edited 11:39am Mar 15, 2011 11:22am | Edited 11:39am
Here is an update on the IBM setup that I showed you in december. As you can see a lot of money could have been earned.
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #55
  • Sep 19, 2011 3:41am Sep 19, 2011 3:41am
When price breaks this triangle on the monthly chart I think it is a good idea to use the equity millipede strategy on the lower timeframes. What do you think?
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #56
  • Oct 5, 2011 3:41am Oct 5, 2011 3:41am
nice. i like this thread. i do something similar
  • #57
  • Nov 11, 2011 3:16pm Nov 11, 2011 3:16pm
Here is a monthly GBP/JPY chart with trend lines. I think the current trend line will be broken soon(within a year). Last month formed a bullish engulfing candle and on the daily chart a pinbar has just formed.

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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #58
  • Jan 9, 2014 7:49am Jan 9, 2014 7:49am
Quoting Gambler180
Here is a monthly GBP/JPY chart with trend lines. I think the current trend line will be broken soon(within a year). Last month formed a bullish engulfing candle and on the daily chart a pinbar has just formed. {image}
Thanks to abenomics a lot of money could have been earned on this setup. The chart below is a weekly chart.
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #59
  • May 23, 2016 7:11pm May 23, 2016 7:11pm
Here is what happened with the EUR/GBP setup. I hope that someone made a lot of pips on this one. It almost couldn't have been more perfect. Especially for people using the equity millipede strategy.
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If slaughterhouses had glass walls, everyone would be a vegetarian!
  • #60
  • Last Post: May 23, 2016 7:28pm May 23, 2016 7:28pm
Quoting Gambler180
If AUD/USD shows weakness on the daily or weekly charts I think a lot of money could be made by shorting this pair. On the monthly chart it is close to a 20+ year high. What do you think will happen with this pair? {image}
It didn't happen immediately. In fact it rose a lot but look at where it is now almost 6 years later. How much could you have earned by looking for selling opportunities just a few years ago? People using the equity millipede strategy could have earned a fortune on this pair and it was so obvious that the pair should fall if you also look at fundamental factors.
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If slaughterhouses had glass walls, everyone would be a vegetarian!
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