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  #66092  
Old Jun 12, 2010 4:36am
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Originally Posted by Dan-FX View Post
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?

Thanks and have a good weekend
As well as leaving your TLs that have multiple touches try connecting the last two obvious swing high point as soon as they have happened to make a fresh line. Its the third touch that usually gets the reaction we want and then i personaly wait to see if it holds up on the next approach to see if it is worth keeping on my chart. see the chart for an example of how i plot them...
Also its worth noting that when they line up with an MA or other confluencing areas/factors they will be more chance of a good reaction. The good thing about TLs is that they keep you trading the trend and therefore make things that bit easier.

hope this helps

jon
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  #66093  
Old Jun 12, 2010 4:39am
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Originally Posted by ghous View Post
I can't believe I googled that!

gotta laugh old buddy!!
btw some great posts recently bro

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Hookers for everyone! . . wait . .that may not be appropriate.
...well if your offering Jarroo....im single!!.... lol

jon
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  #66098  
Old Jun 12, 2010 6:32am
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Originally Posted by Grousman View Post
Hi all, been a while since posting, actually got a day job so kind of busy....
i like this one a little also, not the best situation with it coming at the end of a ranging market but the dbl bottom looks good.Couple that with a weak looking GB and it could be a quick trade.(with tight Jarroo type MM )
i would like to see it break with some momentum though through the first area i marked on the chart with my first TA at .8400, mabye even close it all there if it reaches..? We have div which shows up clearly on the 4h TF which targets around 8400 also.

jon
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  #66099  
Old Jun 12, 2010 6:35am
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Originally Posted by Pinbar View Post
I could always become single if given the chance.
lol...just dont tell the missus you said that!! lol

jon
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  #66128  
Old Jun 13, 2010 2:45am
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Originally Posted by jarroo View Post
She's on her way buddy. lol






jon
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  #66242  
Old Jun 14, 2010 5:49am
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anyone else short gb?? bad news for the currency today

jon
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  #66247  
Old Jun 14, 2010 6:04am
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Originally Posted by supremeChaos View Post
bad news? why is price up
i remember your preferred trading strategy (found in your profile): "wait for price to go up, and buy the day before!"
well, i was short the day before today. learned it from u
lol...its jus a guess but i think it was jus a squeeze, i see price dropping from here???dont quote on it ! i'm short from a touch trade from 1.4750, so lets see how it goes..??


jon
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  #66249  
Old Jun 14, 2010 6:09am
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Originally Posted by nasir.khan View Post
Small PB @ 50%.

Make your own decision.
.
yeah, shame bout the bar size or it would be a really nice setup. Still could be of course...

jon
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  #66251  
Old Jun 14, 2010 6:21am
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Originally Posted by supremeChaos View Post
i see..
good luck & be alert bro...
..yeah we might see it hit 1.4780-1.4800 yet (or more )
i took half off allready at +20 as i had quite a small stop so not worried

jon
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  #66274  
Old Jun 14, 2010 10:24am
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Originally Posted by novice198 View Post
Hi Mike,

Thanks for your feed back, however, not sure what you mean by above statement. Can you pls elaborate further.

Cheers
Novice198
im not Mike and im sure he will give you the better explanation but to give you the idea as im in a similar trade atm. my reasons for taking it were the break of the base of the consolodation which also broke a RN and the failed BUOB on the 1h TF. but if you look at the 15 min TF you can see it break and retest the area which confirms the validity of the break and shows that it is not just random price movement
hope this helps

jon
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  #66278  
Old Jun 14, 2010 11:03am
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Originally Posted by mbqb11 View Post
Hey Novice, what it means is simply selling under the new low that got created by the initial breakout. So when price pullsback that low that got created by the initial burst you can place a sell stop under that area if you get no PA. Again this is just another way to get yourself into a trade without PA in certain circumstances. I marked the area in blue with where I mean you would place your sell order.

Hope that helps
Mike
aha sorry Mike got the wrong end of the stick there. thanx for clearing that up

jon
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  #66283  
Old Jun 14, 2010 11:21am
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Originally Posted by mbqb11 View Post
Hey Guys,

I thought my previous post would help maybe not lol

It is simply selling a new low, if this happened to the upside you would be buying a new high. It is just a way to get into a breakout pullback that doesn't give good PA on the pullback but where your "area" still holds.

Hope this clears it up
Mike
dont worry, its clear lol. and i understood, i should have read the original post before posting !!
jon
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  #66289  
Old Jun 14, 2010 1:15pm
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hey Bug, heres the ATR indicator you asked for

jon
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