Trading Inside A Price Ppattern

This is a discussion on Trading Inside A Price Ppattern within the General Trading Chat forums, part of the Reception category; I have another post about projecting where prices may go when looking at a price pattern. This is the chart ...

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Old Jun 1, 2009, 4:59pm   #1
 
rtsurvivor's Avatar
Joined Aug 2008
Cool Trading Inside A Price Ppattern

I have another post about projecting where prices may go when looking at a price pattern.

This is the chart I added to that post and it is projecting prices to go up to the 1.45xx/1.46xx area.
.
NOTE: The daily chart is for last Friday 5/29/09 and the the 30' chart is for todays trade 6/1/09

(I made a video on the chart and will make another after the price move has completed)

Click the image to open in full size.

The two patterns are the Ascending Triangle and the Bull Flag. The time frame is for the EUR/USD Daily.

I still think that prices are going to go up. Ok, so what about shorter time periods?

There is no reason that the 30' for instance can't be traded as well.

NOTE: There may be trades in the 15' and below but I don't trade anything shorter the the 30'.

The chart below is a close up of the EUR/USD Daily that is showing the 30' time period.

Click the image to open in full size.

There is a good shorting trade taking place as I write this. (Hi-lited in Yellow) Note in the bottom indicator where the light-Green turned to Dark Green. It's the start of a 50 or so pip short.

I guess my point here is to show that a daily price move has many smaller price movements inside the major move. Why not take advantage of them?

Good trading to all
RT...
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Old Jun 3, 2009, 1:49am   #2
 
rtsurvivor's Avatar
Joined Aug 2008
Thumbs up Trading Inside A Price Pattern Movement

rtsurvivor started this thread I'm not sure how to do this so I'm adding to this post.

I am using two price patterns, Ascending Triangle, Bull Flag, to project price movements for the EUR/USD.

Below is a chart for the 30' of the EUR/USD. Notice the big move up throughout the day.

Todays movement, 6/2/09, was spectacular to say the least. There was about a 180 +/- pip gain from the #2 point at the bottom of the chart.
(It was a 123 UP pattern.)

Earlier in the day there was about a 50+ pip sell. (It's shown in the chart just above this one.)

Some days are really good!

Click the image to open in full size.



I made a video of the ongoing trade. You can find it on YOUTUBE
(My YT ID is rtsurvivor) I don't think we can post videos here.

I'm going to put all of the videos on my blog. (I'm still working on that.)
With a bit of luck I think I can get the videos posted on my site tomorrow.

Trading certain price patterns can be quite profitable when they are done right.

Anyhow
good trading to all
RT...
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