- Search Metals Mine
-
aediaz1 replied Mar 5, 2008Example how profitable descending triangles can be ; Edit: This pattern is valid right away when candle is confirmed outside of it
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Your welcome, hope we can still can enjoy more positive pips in the future
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
That's very good ! Make sure you stay near when big news is coming up
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Had a minor limit buy order on 205.60. Still, its + pips
I have been aiming for 208.47 as first target (50% retracement on 4h chart) and 212 as second target on a long-term basis. Here is some old charts I have posted ;Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
I'm glad on your behalf if that prevented you from going short
Auslanco - GBP/JPY and GBP/USD (newstrade)
- aediaz1 replied Mar 5, 2008
Patience pays off ?
I still aim for those 2 targets (second around 212) ;Auslanco - GBP/JPY and GBP/USD (newstrade)
- aediaz1 replied Mar 5, 2008
I hope you all got some piece of this ride.
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Aye, take a look at 1h chart, ascending triangle; If this breaks, I'm looking for 160pips +. Look out for US ISM Non-Manufacturing Composite in 10mins !
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Nice1, speaking of ascending triangles; 1h chart
Auslanco - GBP/JPY and GBP/USD (newstrade)
- aediaz1 replied Mar 5, 2008
Pennant marks the midway point in a move. Since gbp/chf on that time-frame just moves up and down, I wouldn't call it a perfect one. Best examples is when you have a strong bear/bull move and then it occurs. As we had on the gbpjpy example earlier ...
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
I agree on 205.50 level, if broken we should see more buying of GJ. Its not only Asia high, it's in the same area to previous high lately. I calculate my pivots from both London and Asia start (24h).
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
aiyahmarklah; look how Asia low play as a magnet for price. Could be that london pivot is nearby
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Not sure what you mean. Only help I could provide here is ; try and see how price reacts when it breaks one of those two lines
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
If you wanna gain more knowledge about patterns, lines etc go to url , a well-known trader named T. Bulkowski have this great site to learn from. Take a look.
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
For the matter of practice; another pennants on 5m chart gbpjpy. As stated before, a pennant is a pattern for continuation of currently trend. So, we are looking for a break to the upside.
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
I like to include shadows as well,because it includes more of the markets swings. But if you are doing ok with drawing from close-price, then continue
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Yes, services PMI (Purchasing Manager's Index) in UK
Drawing correct resistance and support-lines
- aediaz1 replied Mar 5, 2008
Thank god I had that S/L on gbpjpy @ +1 ! Didn't see that coming. Some strong GBP news spiked it up by 60 pips in no-time
Drawing correct resistance and support-lines