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[brettus]

sitting here this morning this chart catches my eye Cad is range bound

View attachment 82648

Hi Pocrel.

Thats a good chart. I will try trading the false break out on these, because there is an obvious range there. I will watch out getting caught short or long through a break out of the range.

For example to the support side. If it trades through 1.0210 (bottom support line) i think it will likely go to 1.0200 - 1.0205 retrace back to 1.0220 - 1.0240 and below 1.0200 i will put my stop entry to sell. similar with the upside. USDCAD isnt a currency pair i would normally trade, but i think it should work.

 

[pozzyp]

Cable trade not looking to clever.

 

[pozzyp]

Annnnd stopped out, Typical that the first trade I post in a while gets taken out

 

[pocrel]

hi Brettus,
i understand what your saying, works well in a ranging market its called a Lost Motion trade, usually reverses exactly at the double bottom or just brakes it and then reverses back the lenght of the channel, its a very good trade except you get globered it a trending market if you do this

another way of measuring if the bottom has not been broken and remain intact is fib the range and if it does not go past 1.27 extension and price reverses back into the range that gives you another entry

pat

 

[pocrel]

Great to see you Pozzy mate, damn that trade came so close hate that
very unlucky i was short cable myself from 14823 on a diagonal line brake, took my position off way to quick again so pissed of we my discipline i just dont seem to be able to hold positions open lossing alot of cash over it now.

need to get a grip

anyway back to watching

 

[brettus]

Annnnd stopped out, Typical that the first trade I post in a while gets taken out

There was news of the Lib dem - Conservative coallition agreement as you put on that trade mate. It's just typical and it will probably find its way back down to those levels unless more news comes out.

 

[brettus]

Hopefully it got down to 1.0200 and bounced off 1.0220

 

[brettus]

Hopefully it got down to 1.0200 and bounced off 1.0220

Had a sell at 1.0195 and was within a point of getting filled. I dont like USDCAD. No interest in USDCAD btw.

 

[pocrel]

hi Brettus it took a while not the best currency today very chopy hope you made something off of it as i am no sure which way you where playing it, i thought you were going to buy it at 00 for 20 points?
it aint my favorite pair either

 

[brettus]

hi Brettus it took a while not the best currency today very chopy hope you made something off of it as i am no sure which way you where playing it, i thought you were going to buy it at 00 for 20 points?
it aint my favorite pair either

It worked out ok in the end. I think that's the only bit I got right. The sell I was looking for. The break of the range to me confirms a move lower but will hurt you if you jump on it straight away and like clockwork there was a pullback.

 

[pocrel]

how did you play it?
as i got stopped out,my stop was to tight i sold the second brakout but that did nt work and then of course it finallly went but to late for me anyway caught eur/gbp down instead

winning day in the end but no thanks to CAd

 

[brettus]

how did you play it?
as i got stopped out,my stop was to tight i sold the second brakout but that did nt work and then of course it finallly went but to late for me anyway caught eur/gbp down instead

winning day in the end but no thanks to CAd

I had my entry at 95 and fortunately didnt get filled when it popped down briefly. So i got lucky in the end. It was all thanks to the mauling of dollar today due to the coallition talks progressing. Hit 3 targets. It makes life so much easier when you have a few people looking at the charts. Cheers lads. Other than that i had a quiet day.

 

[pozzyp]

Hi Guys,

Brettus I know you Love your Triangles check out cable hourly for this. Similar story on GBPJPY to.

 

[brettus]

Hi Guys,

Brettus I know you Love your Triangles check out cable hourly for this. Similar story on GBPJPY to.

Morning mate. You got that right!! GBPJPY could be a better one. Bigger moves! It's on its way up. It went 15points through my line. Hopeing for small pullback doesnt look good though... Ok i have my 20 tick pullback. I'm looking to buy through todays high, ignoring yesterdays high as i think that wont come into play. Cheers mate!

 

[pocrel]

fantastic trade on that gbp/jpy trade brettus you must have clean up?

good man

just wondering are your triangles the same as wedges?

what do you see as the main differences?

thanks

pat

 

[brettus]

fantastic trade on that gbp/jpy trade brettus you must have clean up?

good man

just wondering are your triangles the same as wedges?

what do you see as the main differences?

thanks

pat

Both the same mate wedges triangles. I had the GBPUSD perfect Waited for the 20 tick pull back after going through trend line confirming order to go long. Had a a buy at 04 Took out a bit at 24 and 34, ran the last bit which got stopped out at my entry. Didnt even go a tick against me and thats the plan right?

 

[pocrel]

just lookin at this lads aud/usd



might brake up or down, watching it for a setup

i will sell the brake down if it happens here at 8958

 

[brettus]

just lookin at this lads aud/usd

View attachment 82752

might brake up or down, watching it for a setup

It looks ok. Theres alot of white space between those lines which suggest it's not valid i see more of a channel formed on that and do believe it will break to the upside as it is most likely on a channel trending down. At the moment it looks a perfect sell off the support line you have drawn. I'll be interested to see if tests fridays close to fill in the gap at 0.8880 and then finally work its way back up. Looks bullish though. I will play close attention to that line. Thats a big trend line on a 2hour chart should be good for 50pips or more.

 

[pozzyp]

I was looking at this on cable, Still using that support line from this mornings setup.

Little doubletopish with a rising support level. Prob with these sorts of patterns is theres so many of them. Thats why I dont trade them much unless they are really solid. Think you know where you stand a little better with horizontal levels. Just my opinion though.

 

[pozzyp]

Higher low, higher high (still forming) and looking for a cheeky long as that support level looks like it might hold.