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[swingitbaby] 22/4/2011 21:51

Nice lemons :))

[and then] 22/4/2011 07:13

Update shows i should have taken that trade too, the risk when the candles reached the top of the channel was merely a point plus the spread, this kind of R/R should always be taken.
25 points would just about have been achieved, notice the line it bounced off was one i added to my 4 hr chart some weeks ago, an obvious points target...


I haven't drawn it in, but once again there was substantial PD formed as suspected to give warning of trend change

[jon827] 21/4/2011 12:47

interesting thread and then :)

[and then] 21/4/2011 12:37

Here is a similar set-up on the AUDGBP. I much prefer the earlier set-up - (the first visit to the trough!) and am sitting this one out, but it is exactly the same in principle to the last chart. the difference is that this one has already given up a load of points to the downside this morning... Don't get greedy!
We shall keep an eye out for divergence of course!

[and then] 21/4/2011 12:29

Another winner (with a dollop of patience!)

The Loonie likes to test your stop regularly during London hours. The point here is that - the trend is down, the CCI gives trigger and confirmation candles quite early, but trend goes into a continuation channel, this gives it the chance to take you negative right up to within a point of your stop (which should be a full pip above the highest candle of the last pullback). Having done so regularly the most points will be gained by waiting after the trigger bar for this to happen. It will enable the (in this case) short to be entered a pip or two before the top and of course if the pattern fails you can exit for a point above the stop, thus only risking 3/4 points plus the spread. You will already be into profit before it drops to the original trigger candle and thus easily get the required target points...

Here's the chart.

[and then] 20/4/2011 14:28

So, one more update on the $/yen position earlier


This mornings chart...





and a few moments ago...

[and then] 20/4/2011 12:03

Update to loonie earlier...

This mornings chart...





and the update...

[and then] 20/4/2011 08:56

The point is we are looking for low risk/v.high probability trades. No need to chase hundreds of points. If you are sure of direction for the next 12/15/20 points you can increase your stake size accordingly and watch the bank balance go up!

[and then] 19/4/2011 20:26

Here's typical double take of Divergence before trend change. Just when you think you've got a healthy dose, along comes some more just to make sure!

Last change of direction yesterday for the Euro....

[and then] 19/4/2011 18:46

Not sure what's happened to the markets lately, but many set-ups just aren't materialising. Its as if its doing it to taunt you... this was a swing low, retrace and nice forming flag. the CCI gave clearance but the following confirmation candle just wouldn't drop the extra half a pip to activate the trade. If any proof were needed that it works, look at what happened next! A big rise! If we make a lower high, its a great short. the indicators will give the green light if so...

[and then] 19/4/2011 15:18

Ok update... didn't quite go according to plan, i cheated a little with the lines anyway! but the thing about divergence is even if it prolongs the change of direction, it often creates two peaks. the end result is still the same... I actually decided to short it with a small stake, but tight stop, which got hit quite quickly... i left it to pursue the euro and forgot about it until now... i guess its a small 'steak' for me tonight as well now! :)

[and then] 19/4/2011 11:50

Gold: Just posting for a reference, but looks like divergence followed by 123 reversal. Backed up by possible Head & Shoulder pattern.
Not taken the trade, but will revisit later to see how it plays out...

Just when everyone was waiting for 1500!

[goofball25] 19/4/2011 11:39

roger that space