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- Dra replied Sep 2, 2008
Well I'm not a "bottom picker" so I dont look at these formations, IMO I think these only work when trading consolidation. Otherwise you will get burn especially the past few weeks with the trending markets.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 2, 2008
TLs are correct, your chart is ok. There is no difference between C & 3, you choose anyone you want to use. Trades are placed at C & 3, the same points basically. My chart posted below, if you get lost just follow the colors.(lol) Theres an old UP ...
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 2, 2008
I'm sure there will be many more opportunities so dont get too hard on yourself.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 2, 2008
audnzd — I was an hour late, so I stay out of this trade, hope yall are in. Entry shown below. Market test the up TL, pulls back and forms nice evening star. There was a breach of the inner TL, but it was a break above. A bull candle would to ...
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 2, 2008
Your stop should be just below that last morning star next time.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
Its just a shift in the channel, the up trend still in order.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
Reason not to delete TLs. — On the chart posted below you will see that market pounce upon a TL(thick white line) that was hidden/drawn months ago. At the same point where it and the current down TL meets look what happen. It test the old TL ...
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
Start the TL from the previous high to A, you will see there was an entry at C. Thats it basically.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
Yes, but not when there is a TL break/trend reversal.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
First thing you do when looking at a naked chart is draw the TLs, all that can be draw, connecting higher lows and lower highs. In an up trend your A would be where the TL start, B at the previous high, C at the TL from the retrace at B and D at the ...
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
The past TLs are still valid, I'm not seeing where any new ones needed at the moment on my charts.
A,B,C,D - 1,2,3,4 System
- Dra replied Sep 1, 2008
Thats not a bad entry, that was a tweezer bottom at the 61.8, almost at the TL, the market does not have to be exactly at the TL for you to enter.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 31, 2008
EURGBP — I never trade this pair before, I didnt even had it on my screen. Sherm I would be looking for Long entries on a retrace to the outer TL. If theres an entry after the retrace to the TL, set your TP below .8100/resistance, the market ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 30, 2008
lol. yea both are EB, you'll see the difference on the charts. Or we could say EBl for bullish and EBr for bearish.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 30, 2008
Add 20 - 30 pips both ways to support and resistance on 4H charts. So that means if the previous low was 94.80 and the market goes to 94.60, thats basically still at the same level. 94.40 and below would validate a low. Reason is at times the market ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 30, 2008
Well first thing is that we MUST respect the outer/long term TLs. That small down TL on the chart was a counter trend thats also "tradable", but as soon as the market reaches the outer TL, which is up, we start looking for Long entries. On the chart ...
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 29, 2008
I see no reversal candle formation at the TL, that wasn't a valid entry. Your entry should be on one of the following candle formations- Evening Star, Engulfing Bearish, Tweezer Tops. Trade what you see next time around.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 29, 2008
Another good week trading FX. Hope yall have a great weekend.
A,B,C,D - 1,2,3,4 System
- Dra replied Aug 29, 2008
The usdjpy was a text book setup, hope yall catch it. Chart below.
A,B,C,D - 1,2,3,4 System