many thanks for your sharing especially the C-Forks.
best regards.
- guandi
slipshod wrote:The pairs I posted before last week's trading, revisited (all H4):-
USDCHF AUDCAD AUDUSD USDJPY
Support, Resistance & Chart patterns
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guandi
- Trader
- Posts: 24
- Joined: Wed Nov 16, 2011 2:34 am
Re: Support, Resistance, Chart patterns and an oscillator
Hello slipshod,
many thanks for your sharing especially the C-Forks.
best regards.
- guandi
many thanks for your sharing especially the C-Forks.
best regards.
- guandi
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slipshod
- Trader
- Posts: 404
- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
You're most welcome guandi, glad its of help 
Just the one chart this week as I'm very pressed for time...
AUDUSD
Just the one chart this week as I'm very pressed for time...
AUDUSD
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garyfritz
Re: Support, Resistance, Chart patterns and an oscillator
I hear that. I still have to work for a living. Balancing things is hard. I find it really hard to stay focused on my paying job when there are much more interesting trading things to play with. Lately I've had to almost completely drop trading analysis & programming so I actually get some work done. I'm keeping up with this forum and that's about it.slipshod wrote:So all of a sudden my trading and analysis time has pretty much disappeared - I thought I'd be able to balance things, but it hasn't worked out that way so far.
Sigh. Gotta get the trading ramped up to where I don't need the job. Thought I'd get there this year but so far it's not looking promising...
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slipshod
- Trader
- Posts: 404
- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
Heh, looks like we're both in the same boat. In the bounce back from the GFC I had a magic run with shares, made 400% over the space of 6 months just trading part-time while working my day job. So when I was laid off I thought great, now I can take this on full-time I can really make a go of it.
Then the share market started to tank, so I looked at forex - how hard can it be, thought I? Little did I know...
Then the share market started to tank, so I looked at forex - how hard can it be, thought I? Little did I know...
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slipshod
- Trader
- Posts: 404
- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
Btw given AU's chart pattern (3 posts up) I hope y'all jumped in short when it rolled over. 120 pips so far and counting.
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slipshod
- Trader
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- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
AU again, this time from a H1 chart...
Edit: The pressure is building on this one. I expect a violent move in one direction or the other soon.
Edit: The pressure is building on this one. I expect a violent move in one direction or the other soon.
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slipshod
- Trader
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- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
and updated again. AU is all I'm trading right now, simply due to time constraints...
Edit: Wow, forget the comments about being flat. As soon as that news broke I'm as long as a piece of string! Talk about trade opportunity of the week.
Edit: Wow, forget the comments about being flat. As soon as that news broke I'm as long as a piece of string! Talk about trade opportunity of the week.
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slipshod
- Trader
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- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance, Chart patterns and an oscillator
Friday was so promising after that news announcement that I took a day's break from programming in order to trade it. Fortunately there were clear chart patterns on the M5 timeframe that made this day an easy one to trade, and never once was a short entry justified...
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slipshod
- Trader
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- Joined: Tue Dec 27, 2011 9:14 am
- Location: Australia
Re: Support, Resistance & Chart patterns
AUDCAD update:-
Back on the 4th June (http://www.stevehopwoodforex.com/phpBB3 ... 004#p15004) I posted the chart showing a bullish falling wedge with an extended break below that looked like crossing up, with the comment "if it can bust above the wedge lines it could be a good long opportunity"...
Time for an update - sure hope someone took advantage of that long (I sure didn't, too busy with work etc etc). I doubt its finished yet either, as the target line of the Wolfe Wave is still nearly 200 pips above the price.
Back on the 4th June (http://www.stevehopwoodforex.com/phpBB3 ... 004#p15004) I posted the chart showing a bullish falling wedge with an extended break below that looked like crossing up, with the comment "if it can bust above the wedge lines it could be a good long opportunity"...
Time for an update - sure hope someone took advantage of that long (I sure didn't, too busy with work etc etc). I doubt its finished yet either, as the target line of the Wolfe Wave is still nearly 200 pips above the price.
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Liam
- Posts: 6
- Joined: Sat Jun 30, 2012 6:50 am
Re: Support, Resistance & Chart patterns
Thank you for a great price action board slipshod.
To me, indicators attempt to translate price action and unless you speak the language of price, you cannot tell when an indicator is not telling the truth. Case in point:
A Mafia Godfather finds out that his bookkeeper, Enzo, has cheated him out of 10 million bucks.
His bookkeeper is deaf.
That was the reason he got the job in the first place.
It was assumed that Enzo would hear nothing that he might have to testify about in court.
When the Godfather goes to confront Enzo about his missing $10 million, he takes along his lawyer who knows sign language.
The Godfather tells the lawyer, "Ask him where the 10 million bucks is that he embezzled from me.
The lawyer, using sign language, asks Enzo where the money is.
Enzo signs back, "I don't know what you are talking about."
The lawyer tells the Godfather, "He says he doesn't know what you are talking about."
The Godfather pulls out a pistol, puts it to Enzo's temple and says, "Ask him again!"
The lawyer signs to Enzo, "He'll kill you if you don't tell him."
Enzo signs back, "OK. You win!
The money is in a brown briefcase, buried behind the shed in my cousin Bruno's backyard in Woodbridge !
The Godfather asks the lawyer, "What did he say?"
The lawyer replies,
" He says you don't have the balls to pull the trigger."
To me, indicators attempt to translate price action and unless you speak the language of price, you cannot tell when an indicator is not telling the truth. Case in point:
A Mafia Godfather finds out that his bookkeeper, Enzo, has cheated him out of 10 million bucks.
His bookkeeper is deaf.
That was the reason he got the job in the first place.
It was assumed that Enzo would hear nothing that he might have to testify about in court.
When the Godfather goes to confront Enzo about his missing $10 million, he takes along his lawyer who knows sign language.
The Godfather tells the lawyer, "Ask him where the 10 million bucks is that he embezzled from me.
The lawyer, using sign language, asks Enzo where the money is.
Enzo signs back, "I don't know what you are talking about."
The lawyer tells the Godfather, "He says he doesn't know what you are talking about."
The Godfather pulls out a pistol, puts it to Enzo's temple and says, "Ask him again!"
The lawyer signs to Enzo, "He'll kill you if you don't tell him."
Enzo signs back, "OK. You win!
The money is in a brown briefcase, buried behind the shed in my cousin Bruno's backyard in Woodbridge !
The Godfather asks the lawyer, "What did he say?"
The lawyer replies,
" He says you don't have the balls to pull the trigger."