Nice charts Kruspe...looking at the same....setting up nice for the end of week runs....caution is still the word of the day with EOQ close outs and window dressing.....Kruspe wrote:Hi,
another possible trade setup.. GBPCAD, 3 pushes down again, I expect some consolidation during the Asia session, some false breakout (I would really appreciate something like W pattern) and then go up ?
50% re-tracement of the previous down leg puts you near the "D" point....reasonable possibilities...Fable wrote:Hi guys !
As I try to trade "naked" and to find patterns.
Here is something (maybe, I'm no pro) interresting on the EJ (H1):
I see a Wolfe wave (in red) + some acceleration (in blue, a possible second WW forming ?) + also some double bottom.
What's your opinion on this ?
Very best regards, hope it's not complete bullshit.
Fable
ps: I just saw that I didn't take the price on the screenshot, sorry about that I just closed the chart.
Red Wave 4 is around 123.8
You will find the stop hunts hit the market maker change over times between the sessions as well as in between push 2 and 3, or when price has traveled a good distance. They like to throw the stop hunt in to clear traders out of correct positions as well as put them into the wrong positions before the next price move.nicoacademia wrote:one area that comes immediately to my attention over this week is that i must improve is to wait for a stop hunt first before adding to my existing.
2 days in a row i'm like wasting my margin on crap.
Cap said the first move would be a fake.
check out EURUSD.
Here's a couple other ways to take entry into the "M" formation.followNev wrote:AUD/USD m15
Went short yesterday at the first sign of a Double topping 'M' pattern. Closed the trade when going to bed as price had not closed below the neck line. When I woke up, noticed that price had moved lower, retraced to form a new Swing high and was on its way back down again.
Now I am in profit again, though the stop is at BE, i'll await a new swing high before moving my stop again.
The key was to bank some profits but also to take the Double top 'M'. Now even if I get stopped out at BE, i'll have taken some money off the table. Ideally, when there is divergence on the CCI , i may close some of the current position and re-enter short at the next signal. We'll see.!!
http://content.screencast.com/users/fol ... igzag2.gif
Yes...looks like 3 legs down, with a nice pin. The low could be tested before the rise though...also note how tick volume dried up after the "pin" formation... indicating price exhaustion....hodgires wrote:it looks like GBPCAD is ready to go up, on h4 chart...look at the pin that has formed. Is this a correct assessment on gbpcad, captain?
Rich
I'm not sure about your GJ trade Gerry, a chart would help us to see.....Mescalitofx wrote:good morning
i took a sell trade on GBPJPY yesterday, closed it out with a small loss, when i went to sleep it dropped lower ..... i am very confused at the moment as i was expecting a HIGHER UP leg to complete the 3 rise up on higher TF.
Question for CJ: when do u decide to pull the plug when the map is not like u planned. do u trade lower timeframe to cover losses or drawdown when u enter Higher timeframe.
I see EURCAD
on the third level low.
gonna take a buy here. will post later the image and on 15min chart we also have 3 levels
Grab a handful a day and run to the beach, have a cold one and enjoy!Mescalitofx wrote:I am out.... FLAT
took some pips
Up to the next cycle
Market is like a spring being torsed up before they(foxy) catapult it.
brrrr, makes me nervous. grab profits and run...
That's what it's all about. Adding to your pool of knowledge....applying it to what is working for you and making it work better.Evaluator wrote:Captain Jack,
I have been testing your adaptation of Nannningbobs 10.4 and using your 10.5 in 15M and I really like what I am seeing. Using 10.5 in 15M really clears up alot of confusion and makes it clean and clear.
My congratulations to you. For example, GBPUSD today was a nice move.
Evaluator.
