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THE only Pattern

  • #1,641
  • May 8, 2017 11:49am May 8, 2017 11:49am
Quoting atheer1
{quote} {image} {image}
Thank you Atheer
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,642
  • May 8, 2017 12:02pm May 8, 2017 12:02pm
Quoting chararu
Hi Atheer1, looking at USDJPY currently. Can one say it is in reversal mode yet? I am a newbie and just started following your threads. Your explanations are easy to understand and planning on demoing a while.
At what time frame you think.............there might be a reversal...........so that I can answer your question
atheer1
  • #1,643
  • May 8, 2017 12:06pm May 8, 2017 12:06pm
Question:

Test your mind?

From Risk/reward perspective.......would you long GU from 1.2930 now or not?and why?

Attached Image (click to enlarge)
Click to Enlarge Name: 17.png Size: 33 KB
atheer1
  • #1,644
  • May 8, 2017 12:23pm May 8, 2017 12:23pm
Quoting atheer1
Question: Test your mind? From Risk/reward perspective.......would you long GU from 1.2930 now or not?and why? {image}
That looks like a double top on GU so possibility of reversal. Hopefully.
  • #1,645
  • May 8, 2017 12:36pm May 8, 2017 12:36pm
Quoting chararu
{quote} That looks like a double top on GU so possibility of reversal. Hopefully.
Yes.................but not to that point I was pointing
atheer1
  • #1,646
  • May 8, 2017 12:47pm May 8, 2017 12:47pm
Charau...............

For UJ I think no pullback before 114.50-60 speaking of daily .........if broken then 115.................115.40-50
atheer1
  • #1,647
  • May 8, 2017 12:53pm May 8, 2017 12:53pm
Quoting atheer1
Question: Test your mind? From Risk/reward perspective.......would you long GU from 1.2930 now or not?and why? {image}
I'm probably wriong but looks like it will hit another zone at 129.55 ish so straight in to resistance. So no is my answer
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,648
  • May 8, 2017 12:58pm May 8, 2017 12:58pm
Quoting fisheggs
{quote} I'm probably wriong but looks like it will hit another zone at 129.55 ish so straight in to resistance. So no is my answer
Excellent...........you get the right answer you are good chart reader
atheer1
  • #1,649
  • Edited 1:21pm May 8, 2017 1:03pm | Edited 1:21pm
Quoting atheer1
{quote} you are good chart reader
Thank you! I just can't spot these in real time or ahead of the trade as yet.
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,650
  • May 8, 2017 1:54pm May 8, 2017 1:54pm
Quoting fisheggs
{quote} Thank you! I just can't spot these in real time or ahead of the trade as yet.
I'm in the same boat, getting there slowly, its tricky but almost feels too easy once you see it, wondering how it can be so simple.. solid formula with human nature at the heart of it, PA is like watching human emotions at work..
  • #1,651
  • May 8, 2017 5:21pm May 8, 2017 5:21pm
sell GU from around 1.2950-60
atheer1
  • #1,652
  • May 8, 2017 5:34pm May 8, 2017 5:34pm
Sell EU from 1.0930-50
atheer1
  • #1,653
  • May 8, 2017 5:53pm May 8, 2017 5:53pm
atheer1,

(newbie here)..

Thank you for sharing the system. I have few questions.

1) How do you determine SL
2) How do you determine TP and also partial close in profit
3) do you use trail stop?
4) do you take market order or pending order in the closest grid
  • #1,654
  • May 8, 2017 6:17pm May 8, 2017 6:17pm
Quoting sdatta
atheer1, (newbie here).. Thank you for sharing the system. I have few questions. 1) How do you determine SL 2) How do you determine TP and also partial close in profit 3) do you use trail stop? 4) do you take market order or pending order in the closest grid
welcome

*** SL is just above/below the level R/S that should be respected ...........usually about 10 pips.........sometimes little more max 20 pips.........so should not pick weak levels

*** TP next important R/S.........and partially close when price action showed a momentum enough to make a new high/low...........

***No I do not use trail stop

***Mostly market orders rather than pending
atheer1
  • #1,655
  • May 8, 2017 7:36pm May 8, 2017 7:36pm
Quoting atheer1
{quote} welcome *** SL is just above/below the level R/S that should be respected ...........usually about 10 pips.........sometimes little more max 20 pips.........so should not pick weak levels *** TP next important R/S.........and partially close when price action showed a momentum enough to make a new high/low........... ***No I do not use trail stop ***Mostly market orders rather than pending

atheer1,

thanks for your responses. few more questions (trying to learn)

1. "..usually about 10 pips" do you still trade on M1 or M5?
2. what would you generally do if there is an running trade and it shows an opposite signal?
  • #1,656
  • May 8, 2017 11:23pm May 8, 2017 11:23pm
Quoting birdland
GJ finding support around 145.90-146.00? i will watch
worked out!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 79 KB
trading is like dancing, don't think and just listen to the music!
  • #1,657
  • May 8, 2017 11:26pm May 8, 2017 11:26pm
Quoting atheer1
sell GU from around 1.2950-60
Hi Atheer,

Where are you targetting with this? I see a zone at 129.30 and 129.00
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,658
  • May 8, 2017 11:28pm May 8, 2017 11:28pm
Quoting birdland
{quote} worked out! {image}
Very Nice !
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
  • #1,659
  • May 9, 2017 12:05am May 9, 2017 12:05am
Quoting sdatta
atheer1, (newbie here).. Thank you for sharing the system. I have few questions. 1) How do you determine SL 2) How do you determine TP and also partial close in profit 3) do you use trail stop? 4) do you take market order or pending order in the closest grid
here you go,
a small compilation by ensale
Attached File(s)
File Type: pdf The only pattern You need to trade.pdf   3.4 MB | 554 downloads
  • #1,660
  • May 9, 2017 12:52am May 9, 2017 12:52am
Quoting bistolis
{quote} here you go, a small compilation by ensale {image}
cool...thanks
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